论个人人力资本投资决策

个人投资是人力资本投资的重要主体,是形成大规模投资的关键主体。通过人力资本投资的成本与收益方法分析了个人人力资本投资的决策依据,对激励机制进行了讨论,总结了影响个人人力资本投资的主客观因素,最后,提出激励个人人力资本投资的对策建议。     

图示理论在商务英语听力教学中的应用

介绍了图示理论在大学英语教学中的应用,同时结合目前商务英语听力教学过程中所采用的一些教学方法,辅之以部分实例分析,对图示理论在商务英语听力课中的应用提出了一些有益的探索。     

独立审计质量影响因素分析

独立审计服务质量的高低影响到其对投资者保护的有效程度,进而影响到社会公众投资者的信心和一国资本市场发展的成熟程度。如何有效地提高独立审计质量,历来成为政府监管部门、立法机关、公众投资者等利益相关者关注的焦点。提高独立审计质量的一个前提是,需要明确影响独立审计质量的主要因素有哪些。对此,国内外许多学者对此进行过研究,这些研究或者是规范角度的一般理论分析,或者是从实证检验角度进行。本文则从较少受到关注的审计师专业胜任能力、审计师工作强度以及审计收费三个角度,进行实际调查分析,考察这三个因素对独立审计质量的影…     

Are managers strategic in reporting non-earnings news? Evidence on timing and news bundling

Using a comprehensive sample of non-earnings 8-K filings from 2005 to 2013, we examine whether firms strategically report mandatory and voluntary news. In particular, we examine whether firms report negative news when investor attention is low and whether they bundle positive and negative news. Our findings support the notion that managers believe in the existence of investor inattention and strategically report negative news after trading hours. These results particularly apply to public firms, where equity market pressures provide stronger incentives to mitigate market reaction to news by exploiting investor inattention. Further analysis of the market reaction to strategic disclosure uncovers no evidence of investor inattention, consistent with market efficiency. We also observe that public firms are more likely to strategically disclose through news bundling and that the likelihood of this increases with the likelihood of strategic disclosure through timing.     

会计信息在中国公司债交易市场中的有用性

利用中国银行间债券市场和交易所市场中公司债交易的相关面板数据研究了发债主体的会计信息在公司债交易市场中的有用性。研究结果表明:发债主体的会计信息会影响债券当年的年度持有收益率;现金流量和应计利润是会计盈余的两个组成部分,这两部分均与债券的年度持有收益率显著正相关;现金流量部分同应计利润项目相比,与债券收益率的相关性更强,这说明当市场或投资者对公司债进行估价时,赋予了现金流量更大的权重。     

蒸发器积霜对冷库热工状况的影响

为了探讨冷库蒸发器积霜对冷库热工状况的影响,为冷库及时化霜和无霜运行提供科学依据,试验选用10t3HP的双温双控冷库为研究对象,动态监测了蒸发器积霜前和积霜后两段时间内库温、霜温、蒸发器进风口与出风口温差、冷库耗电量,绘制了蒸发器外表面的三维温度场。试验结果表明:蒸发器积霜前,库温周期变化较为稳定;积霜后,冷库运行周期由3个阶段变为风机运行和制冷2个阶段且库温最低温度逐渐升高,达不到设定下限,周期变化幅度减小,用时缩短。积霜后的霜温周期最低值达到霜温设定下限,冷库不能在正常设定的范围内运行,蒸发器的制冷效率明显下降。蒸发器积霜使进风口与出风口温差减小;冷库运行12h的耗电量增加147.06%。积霜后蒸发器外表面三维温度场显著不同,各点温度都有所下降,偏离设计的最低温度。试验表明,冷库运行过程中不积霜运行是冷库节能安全运行的重要因素。     

Managerial actions and stock transactions during financial distress: Some empirical evidence

Should the current managers remain in control of the firm during financial distress? We address this issue by examining whether managers who take value-maximizing actions also refrain from abnormal selling of their own shares in the firm. Our empirical results show that managers in the action firms do not engage in abnormal selling even during periods of frequent earnings losses. These managers exhibit higher net purchases than the nonaction managers. Thus, trading behavior of the managers and the actions taken during poor performance both appear to be consistent with stockholder interests.     

税收优惠、社会性支出与外商直接投资——基于省际面板数据联立方程模型的研究

笔者利用我国1999年～2010年省际面板数据,实证研究了税收与FDI之间的非线性关系和社会性支出及其结构对FDI流入的影响.研究结果表明,现阶段,外资在进行区位选择的过程中并没有将税收优惠视为主导性因素,而是更重视当地的社会性支出水平;社会性支出与FDI之间存在显著的正向关系;FDI与税收之间存在倒U型曲线关系;社会性支出结构对FDI流入具有不同的影响.     

Methods for Environmental and Economic Accounting for the Exploitation of Wild Fish Stocks and their Applications to the Case of Icelandic Fisheries

The paper discusses methods for estimating the value of commercially exploited fish stocks and the cost of exploiting them. Methods which are recommended in the System of National Accounting (SNA) satellite system and the System for Integrated Environmental and Economic Accounting (SEEA) and relevant for this task are discussed. The paper questions the relevance of some of these methods. It argues for the integration of economic accounting for wild fish stocks with estimation of efficient management of them. Using biological and economic data makes it possible to produce consistent estimates of the value of fish stocks and the cost of exploiting them. These estimates are useful for national accounting and for guiding management of fisheries. This method allows estimation of the cost of inefficiency of fisheries management besides estimation of the cost of depletion. The different methods are illustrated using data on commercial fisheries in Iceland and the fish stocks that they exploit. It is shown that even if all methods are based on market valuation and use only objective data they lead to very different outcomes.     

生态系统服务功能评估在土地利用总体规划环境影响评价中的应用——以黑龙江省大庆市为例

环境影响评价在土地利用规划中的应用研究已经广泛开展,将生态系统服务功能价值核算应用到环境影响评价中,对大庆市1996—2010年土地利用总体规划进行环境影响评价。结果表明:研究期内,大庆市土地利用类型中未利用地和牧草地面积净减少;湿地、林地和居民及建筑用地面积净增加,其中湿地增加最多;大庆市生态系统服务总价值从1996年373.71×108元增加到2010年的787.07×108元,在规划期内净增加了413.35×108元,单项功能服务价值全部在增加,其中废物处理、气候调节和水源涵养增幅最大,这主要是由气候调节作用强的林地增加和水源涵养系数最高的水域增加共同引起的。人均生态服务价值也保持增长的趋势,增长的变化率为83.61%,说明该规划对大庆市生态环境状况的改善起到了促进作用,有利于生态环境保护目标的实现。