水泥混凝土路面板破坏的原因及其防治

根据我国已建成通车的高等级公路的使用情况，从路基施工前准备、路基施工、台背处理、路面施工及路表面排水处理等方面较全面地分析了水泥混凝土路面破坏的原因及其防治。     

异步电机教学实验数据处理系统

本文介绍异步电机空载、短路、负载实验数据处理的数学方法和软件设计方法步骤,形成了实验教学软件。     

两个灰距离空间(■d)(■.ρ)

本文在邓聚龙教授提出的层次型灰数和信息型灰数——经典有理灰数的基础上,用近代分析的方法,给出两种灰距离空间(/.d)和(/.p),并结合几何直观将两种灰距离进行了比较。     

再就业小额担保贷款实证研究——以江西为例^①

本文在简要回顾前期研究成果的基础上，结合再就业小额信贷面临的难题，剖析了全国再就业小额担保贷款开展最早、规模最大的“江西模式”的运作机制，其成功之处在于下岗工人、金鬲虫组织、政府的效用水平实现了帕累托改进，并证明金融服务不仅能为高收入者“锦上添花”，而且能为低收入者“雪中送炭”；最后，本文在得出“江西模式”启示的同时，提出了进一步完善和推广再就业小额信贷的建议。     

2006年上半年海南省货币信贷运行情况分析

2006年上半年,海南省金融机构在加强防范信贷风险的基础上,加大信贷对地方经济增长的支持力度,信贷运行总体良好。本文概括了2006年上半年海南省信贷运行中突出特征,重点分析信贷运行中值得关注的问题和现象,并提出具体的、有针对性的对策建议。     

The effect of differential accounting conservatism on the “over-valuation” of high-tech firms relative to low-tech firms

This paper examines systematic differences in the level of accounting conservatism between high-tech and low-tech firms. Relying on the recent development in theoretical models and empirical measures of conservatism, we investigate conservative accounting practices and earnings management behavior in high-tech and low-tech firms. The results based on comparisons of cumulative nonoperating accruals, regression coefficients from the income timeliness models in Basu (1997), the distribution of earnings, and discretionary accruals between the two groups are consistent with a higher level of accounting conservatism in high-tech firms vis-à-vis low-tech firms. Additional analyses show that the effect of conservatism cannot be used as a defense for the over-valuation of high-tech firms.     

从国开行的统贷模式探讨中小企业融资难题

中国中小企业的组织形式、企业规模等因素,决定了股票和债券市场不可能成为其有效的融资渠道。没有足够的可抵押资产及相应的担保更无法获得银行贷款。国家开发银行开创性的创造出了一个开放性的融资体系。这个融资体系包括一个向中小企业提供贷款的平台和一个为贷款提供担保的平台。这种开放式融资体系中的贷款模式有效的破解了中小企业融资市场中的规模难题、软信息难题及担保难题,为商业银行提供了有效借鉴。     

Insider Ownership and Firm Value: Evidence from Real Estate Investment Trusts

Real estate investment trust (REIT) provides a unique laboratory to study the relation between insider ownership and firm value. One, a REIT has to satisfy special regulations which weaken alternative mechanisms to control agency problems. Empirically, I find a significant and robust nonlinear relation between Tobin's Q and REIT insider ownership that is consistent with the trade-off between the incentive alignment and the entrenchment effect of insider ownership. Two, many REITs are Umbrella Partnership REITs (UPREITs) which have dual ownership structure. They have both common shares and Operating Partnership Units (OP units). Property owners can contribute their properties to the UPREIT in exchange for OP units. Their capital gains taxes remain deferred as long as they hold onto their OP units and the UPREIT does not sell the properties they contributed. OP units owners are locked in with the firm and have incentive to monitor firm management, but their interests diverge from the common shareholders because their tax bases are much lower. Consistent with the trade-off between positive monitoring effect of OP units and tax-induced agency costs, I find that UPREIT's firm value increases with the fraction of OP units, but the effect is significantly weaker for the UPREITs where insiders hold OP units.     

直流无刷电机驱动控制在织机中的应用

由于织机送经电机转速控制的特殊性,一方面要求控制规律的易变性,另一方面要求转速的精确性和响应的及时性。本文介绍了无刷直流电机双极性可逆PWM控制在织机送经电机中的应用。     

浅谈大豆蛋白纤维及其产品的开发与设计现状

大豆蛋白纤维是一种新型的再生植物蛋白纤维,具有应用价值的该产品的开发设计成为纺织行业的重大举措。