同济堂股权收购案例中的资产评估问题研究

资产评估是企业并购过程中的核心环节,但近年来评估中的问题仍层出不穷。本文依据资产评估行业准则和企业价值评估的要求,对同济堂股权收购案例进行了研究,对其在评估程序和收益法的使用上存在的不足进行分析与改进,并以此为基础,从资产评估行业长远发展的角度提出若干建议。     

Dory & Nemo Early Learning Center

The case requires students to evaluate the current situation and growth options of a small business, Dory & Nemo Early Learning Center (D&N), which provides intergenerational programming to preschool children at a retirement home. The learning center was opened in September 2014, and it was able to make a small profit each year. However, it is projected that there would be a 75 percent decrease in net income from $8,072 in Fiscal 2016 to $1,819 in Fiscal 2017. Davis and Nathans, business partners of D&N, met to discuss the following growth options: (i) Mosaic Retirement Residences' proposal to set up two learning centers at their retirement homes each year for a total of six in three years and (ii) Harmony Retirement Residences' proposal for leasing space to set up learning centers at their retirement homes, one new learning center a year for a total of three in three years. Furthermore, Davis and Nathans had decided to increase the program fee from $320 to $350 per week for the 2017–18 academic session in September. They would also like to reduce their workload from 50 to 40 hours per week, increase their vacation time from two to three weeks, and increase their salaries and bonuses. Students must consider personal objectives of business partners and mission of D&N in the analysis. They learn to identify relevant information for decision making, apply appropriate analytical tools for quantitative analysis, integrate qualitative and quantitative factors in decision making, and make recommendations consistent with analysis.     

China's economic development: does exchange rate and FDI nexus matter?

This study aims to investigate the relationship between China's exchange rate, foreign direct investment (FDI) inflows, and economic development. We applied the bound testing approach on aggregate level data from 1981 to 2013. The results showed that the Chinese economy benefitted from a lower exchange rate over this period, and that there was a direct link between FDI inflows and economic development on an aggregate level both in the long and short run. The results of the Granger causality test identified a long‐ and short‐run association among these variables. The GMM estimations with dummies for financial crises and RMB exchange rate policy fluctuations also confirmed the growth enhancing impact of the exchange rate and FDI inflows. To promote sustainable economic development in the future, China should focus on improving the levels of domestic investment and human capital, as well as supervising the level of openness and capital controls.     

对于我国公平与效率关系的经济学思考

本文主要通过对我国公平与效率关系的描述及当前面临的现状的分析,运用帕累托效率的分析方法,得出公平与效率本质上具有一致性的结论,在此基础上提出公平与效率可以实现最优结合。我国目前正值“十一五”规划纲要的实施初期,大力发展和谐社会,应该在微观领域体现效率优先的原则,宏观领域公平优先的原则,来实现二者的最优结合。     

The Negligence Rule in the Presence of Judicial Corruption and Social Norms

This paper investigates the phenomenon of judicial corruption and incorporates it into Polinsky, A. M. (1980). Strict liability vs. negligence in a market setting. American Economic Review, 70, 363–367 framework so as to analyze the efficiency of the negligence rule. By shedding light on the role of social norms in regard to the phenomenon of judicial corruption, this analysis provides implications for policy. First, more prevalent corruption at the status quo tends to intensify the extent of the corruption itself and, as a result, the effectiveness of the government’s corruption enforcement is greatly lessened. This implies that an excessively lenient policy of corruption may result in an uncontrollable consequence; once corruption becomes rampant, it is costly to bring it down. Of great importance, in the presence of such a corruption effect, the social optimum cannot be achieved based on the negligence rule and the equivalence between the strict liability and negligence rule fails. Secondly, the attitude of the society toward a corrupt judge plays a crucial role in governing the effectiveness of an efficient wage arrangement. If the society can fully accept a corrupt judge, corruption will never be controlled even with the incentive wage scheme.

中国参与区域经济合作的历史进程及战略深化

20世纪90年代以来,与国内不断深入的改革开放历史进程相适应,面对席卷全球的世界经济一体化和新一轮区域经济一体化浪潮,中国开始了积极参与区域经济合作的艰辛探索,历经10多年的辛勤耕耘,取得了可喜成果,初步构建了多层次、多种机制的“米”字型区域经济合作基本框架。但中国的区域经济合作战略带有一定程度的“模糊性”和“软弱性”,总体上表现为一种务实的运动和一个具体的进程,没有清晰的议程和核心的目标。本文对中国参与区域经济合作的历史进程及当前的战略深化进行了初步探讨,并提出了自己的看法和见解。     

从“责任”的角度对全民健身思考

社会需要健康、家庭需要健康、事业需要健康,维护和尊重自身健康是一种责任,本文运用文献检索法、逻辑分析法、比较法等研究方法,总结了学界对全民健身的相关研究,发现其中存在理论研究不足、缺乏用责任的理念分析全民健健身运动这一系统工程,最后提出应运用责任理念来建构未来的全民健身运动。     

基于国内外高技术产业基地经验比较分析对我国基地发展提出的若干保障措施

本文研究旨在基于高技术产业基地保障体系的系统框架,总结和借鉴国外高技术产业基地保障措施经验的基础上,面向国家高技术产业基地"十二五"乃至中长期跨跃式发展面临的新形势、新规律、新使命、新任务,探讨进一步系统探讨了基地保障措施的途径,提出了若干保障措施,为新时期高技术产业基地建设的规划编制和管理决策提供参考。     

浅谈天然气销售企业的财务管理

随着市场对天然气需求的增加,天然气销售企业的市场环境发生了巨大的变化,本文就天然气销售企业的现实环境做一个概述,然后对其存在的财务管理问题进行一个梳理,并根据现实存在的财务问题找出相应的解决方法.     

Effects of mentoring functions on receivers' organizational citizenship behavior in a Chinese context: A two-study investigation

This research examines the relationship between mentoring functions received by employees and their organizational citizenship behavior (OCB), and the moderating effects of perceived quality relationships with mentoring function providers in China. Results of Study 1 from a sample of 385 supervisor-subordinate dyads reveal that role modeling received by protégés positively relates to their OCB, and perceived mentoring relationship quality moderates the association between career support received and protégés' OCB. Moreover, nonprotégés and protégés who receive high levels of overall mentoring functions perform more OCB than protégés who receive low levels of mentoring functions. Results of Study 2 from 258 supervisor-subordinate dyads show that role modeling received by subordinates positively relates to their OCB directed at individuals (OCBI) and at the organization (OCBO) while career support received positively relates to OCBO. Additionally, leader-member exchange moderates the linkages of role modeling with OCBI and OCBO.