基于价值工程理论的房地产性价比确定

高性价比已成为房地产开发商和消费者共同追求的目标,然而长期以来性价比都只是定性描述。本文建立了房地产性能评价指标体系,并应用价值工程理论构建了房地产性价比的确定模型,将其定量化,最后通过一个案例进行了说明。     

Managerial bonding and stock liquidity: An analysis of dual-class firms

Given the decision to create a second class of stock through a dual-class structure, we propose that management is more (less) likely to create a liquid secondary market for both classes of shares the lower (higher) its willingness to tie its personal wealth to firm performance. If market makers recognize this relation, they should assign a higher likelihood to trades motivated by superior information in shares of firms that list both classes of stock and a lower likelihood for firms that list only one class of stock pursuant to recapitalization. Additionally, they should assign a lower likelihood to trades motivated by superior information in shares of IPOs that choose a dual-class structure and list only one class relative to IPOs that remain single-class. Our empirical tests based on IPOS and recaps between 1985 and 1988 provide support for these propositions.     

Ownership structure and golden parachutes: Evidence of credible commitment or incentive alignment?

Using a sample of S & P 500 firms, we find that golden parachutes are associated with concentrated external ownership, less concentrated internal ownership, and non-Delaware incorporation. We find little support that concentrated external owners use golden parachutes as credible commitment devices. The general multivariate results support the incentive alignment hypothesis, and reaffirm the view that golden parachutes are a mechanism used to align managerial and shareholder interests when there is a separation between ownership and control. (JEL G32)     

基于集成化供应链的ERP、CRM与SCM的整合

在企业信息化建设进程中,ERP、CRM与SCM作为关键技术在不同的领域中发挥着重要作用。本文运用集成化供应链管理模型,对于如何从供应链的角度出发,实现三者的有机整合进行了探讨,提出了以集成化供应链为基础的将三者集成的设想。     

现代服务业与工业城区的功能优化——以上海市宝山区为例

从剖析工业城区的发展特征入手,深入探讨了工业城区发展现代服务业的必要性和可能性,认为现代服务业发展不仅是工业城区功能优化的需要,也是工业城区彰显特色和优势的需要.结合上海市宝山区的发展,指出有选择地培育现代服务业的特色部门,有助于推动工业城区的功能优化.     

建立城市边缘群体社会保险制度的设想

在目前我国经济体制转型期间,大批农村劳动力向城镇转移已成为一个令人瞩目的经济和社会现象,随之而来的是大量我们所没有遇到过的新问题。一个值得我们特别关注的问题是,在农村劳动力转移的过程中,一部分农民处于社会保障的真空地带。如何确定进城农民的社会保障项目和待遇水平,使城市与农村社会保障之间在一定程度上有所联结,对我国工业化进程中大量农村劳动力的顺利转移,实现产业结构的战略调整,完善社会保障制度具有重要的意义。     

Ownership structure and post-issue operating performance of firms conducting seasoned equity offerings in Thailand

This paper investigates the post-issue operating performance of companies that conducted seasoned equity offerings (SEO) in the Stock Exchange of Thailand (SET) during the period 1991 to 1994. It is documented that SEO firms exhibited declining operating performance after the offering. Further, there is a negative relation between inside ownership concentration and postissue operating performance decline. In support of the signaling effect, the ratio of issue proceeds to pre-issue equity also negatively relates to post-issue operating performance. Further, the negative relation between issue proceeds and operating performance decline is intensified among SEO firms with high insider ownership concentration. The finding offers evidence in support of agency conflicts and information asymmetry and suggests that the two factors are operating simultaneously.     

构建数字金融综合监管体系

<正>我国“十四五”数字经济发展规划明确提出,坚持金融活动全部纳入金融监管,加强动态监测,规范数字金融有序创新,严防衍生业务风险。作为数字经济时代金融与科技深度融合的产物,数字金融在给金融业改革发展带来新活力新动能的同时,也催生了一系列风险挑战。加强和改进数字金融监管既是促进数字金融守正创新的必然要求,也是推动数字经济健康发展的重要举措。     

零售企业自有品牌实施的必要性与可行性

零售企业自有品牌在西方发达国家已有几十年的发展历史了,并取得了很大的成功,在今天终端为王的商业时代,更被视为零售业的未来的发展趋势.零售企业发展自有品牌体现了市场经济条件下"以商导工"的市场本质,彰显了"以顾客为中心"的精神,在为顾客提供更为细致、更为个性化的商品和服务的同时,零售企业也塑造了自己的品牌,提高了知名度和美誉度,凝聚了庞大的中小生产商阵容为其提供品种多样、质量可靠稳定的商品,最终为零售企业自身赢得商业竞争中的诸多战略优势.随着我国市场经济的发展,有越来越多的达到一定规模、享有良好商誉的大型零售企业具备了开发自有品牌的条件,中国本土的大型零售企业实施自有品牌战略正当其时.