区域经济一体化在构建大牡丹江战略中的实践

十七大报告、牡丹江市第十次党代会报告和十届四次全会报告中都提到区域经济协调发展的问题,这是一个关系国家、地区发展的重要战略。本文结合三个报告和大牡丹江战略来阐述区域经济一体化在牡丹江的实践。     

复杂产品系统采购的付款机制研究:以飞机为例

在论述飞机购置费付款方式演变的基础上,探讨性地提出了里程碑付款方式,它是大型飞机购置费未来的必然发展趋势。然后,就里程碑的内涵与外延,从购置费价格的构成、付款节点的设立、价格激励项的内涵与外延等角度,进行了理论性研究。     

我国环境保护的公共财政政策分析

环境问题正极大地制约着我国国民经济与社会的健康发展。随着我国全面进入工业化、城市化的经济高速发展阶段,未来几十年间,污染治理和生态保护的任务将十分繁重。支持环保是公共财政责元旁贷的重要职责,建立健全环境公共财政政策体系已成为当前我国改革和发展的重要议程。本文对公共财政支持环境保护进行了简要的理论阐述,分析了我国财政环保投入存在的主要问题及其根源,在此基础上提出了完善环境保护公共财政政策的总体思路与政策建议。     

Contemporary University Strategising: The Financial Imperative

This paper examines the financially focused strategies now evident amongst institutions competing for space in the global higher education system. In their search for increasing financial self‐sufficiency, universities and other higher education providers are examined for their primary competitive strategies. The study provides comprehensive evidence of their cost and operating efficiency strategies, facilitated by increasingly pervasive financial performance accountability systems. The primary operational strategies of teaching and research are found to have been transmogrified into strategies of customised education and research that is primarily focused upon and measured in terms of its funds generation. These trends contribute to complex performance management and accountability challenges as universities’ senior managers balance their internal financial ambitions with the expectations of external stakeholders, while simultaneously projecting sanitised imagery through corporate public relations strategies.     

从ROE的实证分析看上市公司的业绩操纵行为

上市公司为了达到配股或避免被“摘牌”的目的 ,对净资产收益率(ROE)或盈亏临界点进行了业绩操纵 ,这可从业绩分布的统计分析研究得到验证。建议改进配股资格的控制参数 ,适当调整 ROE标准 ,防止过度的业绩操纵行为 ,完善财务会计法规 ,加强监管和上市公司与中介机构的自律。     

基于生态安全格局的城乡生态空间布局与优化*——以宣城市为例

[目的]构建生态安全格局、优化城乡生态空间布局,对提升生态环境承载力、促进生态与经济协调发展具有重要作用。[方法]以宣城市为例,基于Arc GIS的空间叠加技术,通过生态系统服务价值评价识别主要生态源地,并采用最小累计阻力模型(MAC)选取生态战略点及生态廊道分布,构建出生态安全格局,进而对宣城市城乡生态空间布局进行优化。[结果](1)生态极重要和高度重要区域面积为918. 78km~2,占全区面积的35.53%;(2)生态源地的总面积为978.83km~2,占全区面积的37.85%;(3)选取的生态廊道多呈现出南北向的连接走向分布,但两点之间相互连接的空间网络化程度较低,且构建出生态高与较高安全区面积为921.70km~2,占宣城市区面积比重为35.65%;(4)优化并形成"绿核+水廊+绿廊"多层次、网络化的宣城市城乡生态空间结构,并进一步优化空间布局。[结论]可为构建生态安全格局、保障城市生态安全、优化城乡生态空间布局提供科学参考。     

定向增发缘何演变成大股东获取控制权收益的工具?——基于驰宏锌锗案例的研究

以驰宏锌锗面向大股东定向增发为案例,对大股东控制下的上市公司将股改与定向增发捆绑于一起的真正原因进行剖析,结果显示:大股东通过将股改和定向增发捆绑于一起来操纵定向增发发行价格和利用低质资产认购股份,巩固了其在上市公司的控制权地位,获取了控制权收益,从而使得中小股东的利益受损。另外,作为市场运行机制规则制定者的政府所设计的非公开发行制度存在的缺陷致使大股东利用对上市公司的控制权,方便地通过定向增发这一关联交易"谋求"到了自身利益的最大化,侵害了小股东的利益,加剧了大股东和小股东之间的代理冲突。     

Advertising, Its Determinants, and Market Structure

This study derives a formal model of firm advertising behavior and applies it to the industry level to figure out the relationship between advertising and market structure. The firm advertising model shows that both consumer preference andfirm-specific advertising competence jointly determineprofit-maximizing advertising intensity. At the industry level, advertising intensity is represented multiplicatively by consumer preference and a measure of market structure, which reflects the joint distribution of the levels of advertising competence and market shares among firms. The new market structure measure suggests that those single-dimensional measures of market structure such as seller concentration and the Herfindahl index are inadequate in explaining interindustry differences in advertising intensity, and that the long-debated advertising-concentration relationship differs depending primarily on the appropriability of advertising. An empirical analysis of 426 five-digit Korean manufacturing industries shows that an inverted U-shaped relationship between the Herfindahl index and industry advertising intensity is observed for consumer goods industries but a lazy J-shaped relationship for producer goods industries.     

资产专用性视角下的资本结构动态分析

本文按照公司价值最大化思路建立考虑资产专用性和资本成本因素的资本结构动态模型，以资产专用性为视角考察资本结构动态过程的路径和原因。研究表明，资产专用性程度对公司资本结构动态演变的过程和结果都有深刻的影响，权益资本成本和负债资本成本的不同动态特性诱致公司资本结构动态演变。利用中国上市公司财务数据所进行的实证检验结果显著地支持本文的理论模型和结论。