赢得值管理在工程总承包项目中的应用

本文以工程总承包工程项目中的赢得值管理为研究对象,目前的工程项目对进度、造价控制提出了更高的要求,采用科学的赢得值管理,可以将项目的进度与成本有机地结合起来,对开展总承包项目具有一定的应用意义。     

试析国际工程承包行业的核心竞争力——以我国对非承包工程为例

核心竞争力已经成为一个企业在激烈竞争中取得成功、实现持续发展的关键。国际承包工程行业处在快速发展的阶段,面对国际市场的激烈竞争,只有提升核心竞争力,才能拓展经济发展空间,取得更大的发展和进步。本文以我国对非承包工程为例,根据波特五力模型来分析承包工程行业的核心竞争力,从降低成本、建立企业联盟、实现工程承包多样化,完善业务链、开拓业务领域注重人才培养方面提出提升我国对非承包工程的核心竞争力的方略。     

A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong

This article aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracts (GMP/TCC) over and above the traditional lump‐sum contractual arrangement through an empirical questionnaire survey conducted in South Australia and compared with the findings in Hong Kong. The Mann‐Whitney U Test indicated differences in perception between the two groups of respondents on the majority of the identified benefits. The study has provided an in‐depth understanding of the perceived benefits of the GMP/TCC scheme, hence leading to a wider application of those alternative integrated procurement strategies in both regions for reference by the construction community at large.     

Fixed Asset Revaluation and Equity Depletion in the UK

UK GAAP has traditionally allowed the write-off of purchased goodwill directly to reserves, resulting in the widespread depletion of book equity. Companies have also been permitted to revalue fixed assets at management's discretion. This study examines whether upward revaluations have been associated with the depletion of book equity and with other costly contracting explanations identified in prior research. Our results provide strong support for the equity depletion hypothesis, both with regard to the decision to revalue and the timing of the revaluations. Indebtedness, liquidity, size and fixed asset intensity are also consistently associated with upward revaluation.     

Is Beta Dead or Alive?

The debate about whether beta is dead or alive has heated up once again. We believe the empirical work supporting either side of the argument is limited because market frictions are not adequately addressed. This study clarifies the controversy about the issue by creating a new moving-average beta and analyzing two market anomalies: the turn-of-the-year and the Monday effects. What is discovered in this research is (1) that a fundamental source of the problem underlying the two types of market anomalies is the persistence of market frictions that retard the arbitrage process; (2) that beta is seriously ill if the effects of market frictions are ignored; and (3) that beta is alive and well if the effects of market frictions are accommodated. Also, we show, by using an optimal lead/lag structure, the moving-average beta provides significantly higher explanatory power for the turn-of the-year and the Monday effects than betas created from ordinary least squares regression and Scholes-Williams and Fama-French methods because the moving-average beta accommodates the effects of market frictions into the body of beta itself. This new type of beta, a moving-average beta, is demonstrated to be robust.     

论倒签提单的法律性质

倒签提单是海上贸易中常见的一种行为，因倒签提单引起的争议案件也常有发生，严重扰乱了正常的国际贸易秩序。虽然倒签提单在我国的司法实践中通常被认定为一种侵权行为，然而在学术界关于倒签提单的性质仍然存在不同的观点。通过对诸多观点的分析与评价，提出对倒签提单法律性质的看法。     

建筑工程总承包模式下的物资采购及细化管理

在我国建筑市场,工程总承包管理是近年来常见的一种工程管理模式。对工程总承包单位来讲,如何合理使用项目资金,降低物资采购成本,完善物资管理体系,是建筑工程总承包模式下工程管理中的一个值得探讨的问题。     

Emerging Market Business Cycles: The Role of Labor Market Frictions

Emerging economies are characterized by higher variability of consumption and real wages relative to output and a strongly countercyclical current account. A small open economy model with search‐matching frictions and countercyclical interest rate shocks can account for these regularities. Search‐matching frictions affect permanent income, and increase future employment uncertainty, heightening workers' incentives to save and generating a greater response of consumption and the current account. The greater consumption response feeds into larger fluctuations in workers' willingness to work, while interest rate shocks lead to variations in firms' willingness to hire; both of these outcomes contribute to highly variable wages.     

银行视角下农村土地承包经营权抵押融资探析

随着2014年中央一号文件的出台,农村土地承包经营权抵押融资问题再次引起广泛的关注。当前农村土地承包经营权抵押融资面临着法律禁止和政策突破的矛盾。在这个背景下,推行土地承包经营权抵押融资亦面临着一些不容忽视的困难,如抵押融资渠道不足、银行业金融机构面临高风险、相关配套机制不完善等。这就需要通过完善相关配套机制、完善以风险管理为核心的土地承包经营权抵押贷款银行管理体制、探索土地承包经营权抵押担保新模式等措施突破困境。