Time to Keep Fit!

At 7 o'clock at night,Adeline Yue,who works at a foreign company in China, called it a day,packed up her bags and walked to a nearby fitness club to do her daily workout.Dancing with the music,Yue eased away the 10 hours of tired- ness and pressure of work,sweating and panting."I really enjoy coming here,to completely relax myself,and at the same time,work on a healthy body,"she said as she ran on the treadmill.     

强化企事业单位内部审计的研究

随着企事业单位管理的需要,内部审计显得越来越重要。本文通过阐述我国企业内部审计中存在的问题,从内部审计认识、内部审计建设、内部审计人员三个方面进行分析,从中找出对策。     

从美国物质科学资助转变看学科均衡发展

本文介绍了美国从70年代至今对物质科学资助的转变历程,探究其资助转变背后对于学科均衡发展的考量,其中,重点讨论美国国家科学基金会(NSF)在保持美国学科均衡发展中的重要作用和美国在不同时期通过资助转变对学科发展失衡的调节.最后,文章还就美国围绕学科均衡发展进行资助调整对我国的启示进行了分析.     

中国金融业分业经营与混业经营研究

实践表明，混业经营有助于增强金融机构的国际竞争力，促进一国经济的发展，目前已成为全球金融业发展的趋势。就我国而言，从长远的角度来看，混业经营是金融业的必然选择，但短期内尚不具备过渡的条件。由于我国已加入WTO，所以目前应抓住机遇，采取相应的对策，为将来混业经营作好准备。     

我国财务软件的发展趋势

本文针对E时代的要求以及加入世界贸易组织给我国带来的挑战，通过对当前财务软件开发和应用的分析，为我国财务软件发展提供了一些新思路。     

Village Elections,Accountability and Income Distribution in Rural China

1. Introduction The village election was first envisioned by the late chairman of the National People’sCongress (NPC), Mr Peng Zhen, in the mid-1980s to enhance village governance after the commune system was dissolved in China in the early 1980s. In 1987, the NPC passed a tentative version of The Organic Law of the Village Committee (OLVC), and started a 10 year experiment of village elections. In 1998, the NPC formally passed the law and elections quickly spread to the whole count…     

Dynamic scoring: Alternative financing schemes

Neoclassical growth models predict that reductions in capital or labor income tax rates are expansionary when lump-sum transfers are used to balance the government budget. This paper explores the consequences of bond-financed tax reductions that bring forth a range of possible offsetting policies, including future government consumption, capital tax rates, or labor tax rates. Through the resulting intertemporal distortions, current tax cuts can be expansionary or contractionary. The paper also finds that more aggressive responses of offsetting policies to debt engender less debt accumulation and less costly tax cuts.     

井下作业企业实施品牌战略探讨

针对目前井下作业企业在品牌建设中普遍存在的问题进行深入分析，着重剖析了制约品牌建设的各种不利因素．提出了在现有条件下井下作业企业如何实施品牌战略的设想，指出井下作业企业要实现成为世界级的公司目标，就必须走向世界，积极参与国际竞争，进一步加强品牌战略。     

Asymmetric volatility in the foreign exchange markets

We examine the presence or absence of asymmetric volatility in the exchange rates of Australian dollar (AUD), Euro (EUR), British pound (GBP) and Japanese yen (JPY), all against US dollar. Our investigation is based on a variant of the heterogeneous autoregressive realized volatility model, using daily realized variance and return series from 1996 to 2004. We find that a depreciation against USD leads to significantly greater volatility than an appreciation for AUD and GBP, whereas the opposite is true for JPY. Relative to volatility on days following a positive one-standard-deviation return, volatility on days following a negative one-standard-deviation return is higher by 6.6% for AUD, 6.1% for GBP, and 21.2% for JPY. The realized volatility of EUR appears to be symmetric. These results are robust to the removal of jump component from realized volatility and the sub-samplings defined by structural-changes. The asymmetry in AUD, GBP and JPY appears to be embedded in the continuous component of realized volatility rather than the jump component.     

美国低成本航空公司经营战略研究

以美国西南航空公司为例,通过分析其竞争战略、价值链系统和经营决策要素,说明低成本航空公司经营成功的经验。以此为借鉴,对中国发展低成本航空公司的不利条件进行分析,指出应通过实行市场化和引入民营资本等措施发展中国的低成本航空市场,以增强行业的整体竞争力。