浅析楼顶高大模板支撑专项施工方案——以南宁市竹排冲1日泵房改扩建工程为例

文章以南宁市竹排冲旧泵房改扩建工程为例,通过对运行层梁板高大模板支撑进行受力计算与分析,并在实践中加以验证,保证了高大模板支撑体系的稳定与安全.     

全方位不等高斜柱式铁塔基础的尺寸控制

简述了自蓉线工程不等高斜柱式铁塔基础的分坑、制模以及其浇制等子工序的尺寸控制方法。     

Is the optimum quantity of money compatible with the unique price level under laissez-faire?

The purpose of this paper is to set forth a general equilibrium model to demonstrate that even if the real social costs of producing money are positive, the optimum quantity of money is incompatible with the unique price level under laissez-faire if zero-degree homogeneity of the production-maintenance cost function in M and P is assumed.     

论企业债券信用评价机构及其功能

根据现代金融中介理论中的信息生产模型和受托监控模型,分别从企业债券信用评价机构在降低交易费用、信息生产等方面的功能角度,对企业债券信用评价机构的发展给予了充分的理论证明。     

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《三岔口》Divergence 导演陈木胜主演:郭富城吴彥祖罗嘉良李心洁宁静郑伊健《三岔口》的名称是源于同名京剧剧目,故事的发展也与京剧剧情有异曲同工之妙,片中三个人分别是律师、警察、职业杀手.但每一个人都有一点不容于本身职业的性格,与此同时,城中不断发生着其他罪案,动机不明的凶杀案、失踪案比比皆是.这些无头公案有可能与三位主角拉上关系。三岔口.充满了太多不可测的人和事……导演似乎在和观众玩一个心理游戏到底谁是真凶?他们之间又有着如何的关联?重重谜团只有最后才能揭开谜底。     

Optimum tariff on imports from imperfectly competitive labor-managed firms

This paper develops a model of international trade between a labor-managed economy and a capitalist economy and examines the short- and long-run optimal specific tariff in the presence of foreign imperfect competition among labor-managed firms. It will be shown that the underlying conditions for the optimal tariff rule are different from conventional wisdom.     

In Defense of Incentive Compensation: Its Effect on Corporate Acquisition Policy

Financial economists have long recognized that compensation design, particularly the use of equity-based compensation, can provide strong motivation for corporate managers to make value-maximizing decisions. But the perception of excesses in equity-based pay for U.S. executives has become pervasive and has led many to question its efficacy. The fundamental problem is one of measurement–while it is relatively easy to measure the cost of equity-based compensation, it is difficult to determine the extent to which equitybased compensation actually causes managers to direct corporate resources into value-maximizing ventures.
The authors of this article focus on corporate acquisition policy and argue that if equity-based pay is an effective motivator, it should limit management's inclination to overpay for acquisitions and to make unwise acquisitions. In their study of 1,719 mergers and tender offers over the period 1993–1998, the authors found that bidding companies with higher proportions of equity-based pay paid lower takeover premiums, acquired targets with stronger growth opportunities, and undertook acquisitions that were received more favorably by the market both upon announcement and over time.     

Technological Upgrading under Tariffs and Equivalent Quotas*

This paper compares the effect of tariffs and that of equivalent quotas on the domestic firm’s production technology choice when it competes with a foreign firm in the domestic market. It is shown that under Bertrand price competition, the ranking of technology under tariff protection and quota protection is ambiguous, as it depends on the relative strength of the strategic vs output effects. The equivalent quota regime can generate a higher‐technology (implying a lower production cost) choice than the tariff regime if the strategic effect dominates the output effect. In contrast, the technology level is necessarily higher under the tariff regime than under the equivalent quota regime when the firms engage in Cournot quantity competition.     

Investor protection and corporate cash holdings around the world: new evidence

We provide new evidence that firms under weak governance regimes hold less cash than firms operating under strong governance, contrary to previous literature. Our findings also establish that there are two independent effects for the de jure and de facto aspects of governance that protect minority shareholders. Consistent with managerial empire building prediction, our study reveals that firms deplete their excess cash by overinvesting and this effect is exacerbated in countries with weak governance. The excess cash depletion has an adverse impact on firm performance, more so in countries with weak investor protection which is in support of the agency costs explanation.     

Product market pricing power, industry concentration and analysts’ earnings forecasts

This is the first study to establish a link between product market power and analysts’ earnings forecast accuracy and bias. Relating two different dimensions of market power to earnings forecastability, we document that (a) a firm’s relative pricing power and (b) its industry concentration are strong positive determinants of analysts’ earnings forecast accuracy. We find that forecasting earnings of higher market power firms is less complex due to their ability to withstand cost shocks as well as greater informational-efficiency enjoyed by such firms. Further, forecast optimism increases with weakening product market pricing power and with lower industry concentration. The knowledge derived from this study will hopefully improve the accuracy of equity valuation, and thereby engender better buy-side (stock selections) and sell-side recommendations by analysts. Our analysis also suggests that brokerage firms compensating analysts based on forecast accuracy need to adjust for the differential in the information complexity of different industries.