The Usefulness of Earnings and Book Value for Equity Valuation in Emerging Capital Markets: Evidence From Listed Companies in the People's Republic of China

This paper examines the relative value relevance in equity valuation of two sets of accounting information of listed Chinese companies which issued the so-called B shares to foreign investors on the Chinese stock exchanges. These firms are required to prepare two sets of financial statements: one based on China's accounting regulations (domestic GAAPs) and the other based on International Accounting Standards (IASs). The study adopted the Ohlson (1995) model and used the Davidson-MacKinnon J-test to assess which one of these two competing sets of accounting information is more closely associated with the share prices. The results showed that earnings and book value reported based on IASs have greater information content than those based on domestic GAAPs. The results of yearly regression analysis generally suggested that the explanatory power of these earnings and book values for share prices increased over time.     

论当代国际政治经济学理论研究的局限性、逻辑起点与微观基础

本文在文献比较与综合的基础上分析了当代国际政治经济学理论研究存在的问题。当代国际政治经济学理论研究缺乏严密的假设前提与逻辑起点,理论解释也缺乏坚实的微观基础。建立在可认识、可评价与可选择行动集合基础上的国际行为主体行为目标与方式的设定,是当代国际政治经济学理论研究的逻辑起点,也是理论建构的微观基础。国际行为主体间相互依赖的方式与机制、国际活动外部性内部化方式与机制、国际公共治理等问题共同构成了当代国际政治经济学理论研究的主要内容。     

新常态下军民融合协同创新与战略性新兴产业成长研究

新常态下充分发挥国防科技创新资源优势,以军民融合协同创新和成果产业化促进战略性新兴产业成长,对主动适应新常态,培育发展新动力和驱动经济发展方式转变具有重要意义。在提出军民融合协同创新概念,分析其与战略性新兴产业成长运行机理的基础上,提出了军民融合协同创新促进战略性新兴产业成长的3种实现路径以及对策建议。     

基于乡镇企业战略体制变革的企业文化变革

本文阐述了新时期的我国乡镇企业所面临的竞争局势、产业结构调整问题,乡镇企业急待需要进行战略体制变革;探讨了企业体制变革的维度之一——企业文化变革对于这种企业战略体制变革的功效。具体地描述企业文化变革与战略体制变革的路径选择的优化问题,便于企业操作或实施。     

西部地区高校技术创新评价指标体系设计方法研究

西部地区是我国少数民族的主要聚居区,高等学校在西部地区技术创新活动中起着举足轻重的作用。论文首先阐明设计西部地区高校技术创新评价指标体系的现实意义以及当前我国技术创新评价指标体系研究存在的主要问题;接着着重分析设计西部地区高校技术创新评价指标体系的基本原则,并在此基础上提出设计西部地区高校技术创新评价指标体系的基本框架。     

奥运营销要与奥运精神契合

文章通过分析奥运营销与奥运精神契合的原理和原则,目的是使商家的奥运营销,更具有穿透性。     

环渤海区域经济协调机制和政府作用

区域经济协调发展就是指在本区域经济交往日趋密切、相互依赖日益加深的情况下,发展上协调互动,从而达到和实现区域经济可持续发展的过程。促进区域经济协调发展,需要以政府间的协调配合为平台,且由此来构建和运行区域经济协调机制。     

论中国城市化转型升级的策略研究

在转变发展方式背景下,中国城市化应从粗放型向集约型、从单体向集群、从生产型向消费型、从东部向中西部、从单元向多元化功能升级转型,但在升级转型的进程中,受到发展理念、经济结构与制度、规划与战略和高房价等因素的约束。因此,文章提出消除制度障碍和体制创新、新型城市化与新型工业化有机互动、依托大城市促进中小城市和小城镇发展、重建政府治理结构以提高城市管理水平等对策措施,推动中国城市化的成功转型和健康发展。     

Comparing factor analytical and circumplex models of brand personality in brand positioning

Competition has never been greater, which means it is more important than ever that organizations assess their brand management strategies, including brand personality management. However, little empirical research addresses the brand personality concept, particularly its role in product evaluation. An exception, which views brand personality as a set of human personality characteristics associated with a brand, has been criticized for its use of a factor analytical approach. An alternative approach posits that the brand represents a relationship partner with which the consumer may choose to engage; it corresponds to the interpersonal circumplex approach to personality modeling. The present study compares these two approaches by developing brand positioning maps and predicting consumer outcomes. The results support the factor approach in a purely quantitative sense, but the circumplex approach offers both a richer qualitative explanation of the findings by encompassing a broad spectrum of traits and a more diagnostic prediction of consumer outcomes. The alternative conceptualization of brand personality contained in these results should be of interest to brand managers. © 2009 Wiley Periodicals, Inc.     

创新,大型百货商店的复兴之路

近些年来,一些大型百货商店沦落到惨淡经营甚至破产的境地,缺乏特色、盲目投资、消费升级乏力、外资企业冲击、多业态竞争加剧是其重要原因.如今,面对我国快速增长的零售市场,面对国内外全方位的冲击,大型百货商店必须进行全方位地创新.可以肯定地说,大型百货商店只有依靠创新才有可能走向复兴.