对债转股中市场力量的多维思考

市场取向的改革决定了债转股目标的实现，必须借助市场力旦，资产管理公司（AMC）运作过程中，无论是在“进入”还是”“退出”债转股企业都需要市场力量的支持，更重要的是，在债转股中，AMC必须运用“搭便车”策略，借助民间资本的市场力量作用，从战略高度上推动债转股的进行。     

收购兼并在上市公司发展战略中的地位和实施策略

本文主要阐述了以下三个方面的问题：（1）公司为何及时从事购并交易；（2）如何使购并活动获得成功；（3）制定中国进行购并行动的战略。     

税制改革与税收文化滞后分析

本文引入了税收文化滞后的概念,阐明了进行税制改革时将会出现税收文化滞后现象,它将影响到税制结构优化目标的实现,因此必须尽力减弱其影响,以确保税制改革的成效。     

Wage and Price Inflation in Poland in the Period of Transition: The Cointegration Analysis

The paper focuses on the long run relationships between wages, prices and labour productivity in the Polish economy by applying recent developments in the field of multivariate cointegration analysis. We followed modeling strategy which is suggested by Greenslade et al. (1999) and present all stages of the analysis which leads to the fully economically identified system of equations representing long run relationships. The investigation is based on the quarterly data from 1992.1 to 1999.2 which covers the period of transition of the Polish economy from the centrally planned system towards the market one. Basing on the empirical results we can argue that wages (costs) were one of the main forces driving inflation in Poland during that period. Also labor productivity proved to be stimulated by the increase of the real wages. On the other hand the hypothesis concerning the relationship between wages and unemployment was rejected by the data.     

中国制造业的效率分析及国际比较

文章分析了中国制造业的现状,用效率指数、相对生产率、劳动生产率等指标对中国制造业的效率进行了评价;指出了中国制造业虽然具有高效率指数和相对生产率,但劳动生产率却非常低。同时对中国制造业与经济发达国家之间的差距进行了分析,并将中国制造业的效率与美国、日本和韩国等经济发达国家进行了比较。     

Optimal Patent Protection in a Two-Sector Economy

This article addresses the issue of optimal patent protection in an economy with a downstream and an upstream sector. The key insight is that higher patent protection in the downstream sector raises the incentives of agents to do R&D in that sector but discourages innovation in the upstream sector because of a market size effect. Hence, higher patent protection in the upstream sector accelerates growth whereas higher patent protection in the downstream sector slows it down. If some innovation is socially desirable, optimal patent protection is necessarily higher in the upstream than in the downstream sector.     

日本金融业的"双重杠杆"现象剖析

一、令人关注的“双重杠杆”现象“双重杠杆”(Double-Gearing)也有人称之为双向杠杆,是指日本银行拥有大量的保险公司证券(通常以次级贷款和盈余票据形式持有),人寿保险公司也拥有大量的银行次级债券和股票,银行和保险公司互相持有彼此发行的证券的现象。在日本,保险公司是银行的大股东,持有每一家城市银行超过10%的股份,银行和保险公司互相交叉持股,依靠彼此信用筹集资金。截至2000年3月,保险公司提供给银行6.7万亿日元次级债券和7.7万亿日元股票,银行提供给保险公司2.3万亿日元盈余票据和次级债券。2000年,由于Chiyoda人寿保险公司、Ky…     

涛雒鱼骨庙

日照市靠海,在其辖区内的历史文化名镇涛雒镇,有一座颇具特点的鱼骨庙. 据史料记载,涛雒从汉代(公元前206年)开始就是商贾云集之地,到明朝时,已是人口密集、生意兴旺,再到后来,尤其进入20世纪初期,它已成了方圆百里的名镇.商户100多家,有银行,贩运、商铺、客栈、茶楼等,整个古镇经济繁荣、物流通畅,教育超前,名人辈出.