物流企业核心竞争力的财务指标及评价方法

本文认为,企业的产品竞争力及资源整合与创新能力是影响企业核心竞争力的主要因素。而物流营运能力指标、物流偿债能力指标、物流获利能力指标、物流发展能力指标等则是影响物流企业核心竞争力的财务指标。文章指出,可采用层次分析法(AHP法)对其财务指标进行综合评价。即将问题予以层次化,根据指标性质和要达到的最终目标,将考评指标分成不同组成因素,并根据因素间的关联影响及隶属关系将其按不同层次进行聚集组合,形成一个多层次结构模型,从而最终把系统分析归结为最低层(具体考评指标)相对于最高层(总目标)的相对重要权值的确定或相对优劣次序的排序问题。     

Accounting and Medicine: An Exploratory Investigation into Physicians’ Attitudes Toward the Use of Standard Cost-Accounting Methods in Medicine

Research studies demonstrate wide variation in how physicians diagnose and treat patients with similar medical conditions and suggest that at least some of the variation reflects inefficiencies and unnecessary medical costs. Health care researchers are actively examining ways to reduce variations in practice through standardization of medicine to reduce the cost of treatment and ensure the quality of outcomes. The most widely accepted form of this standardization is Evidence Based Best Practices (EBBP). Furthermore, financial health care providers such as hospitals and managed care organizations are investigating methods to tie resource usage to medical protocols in their efforts to monitor and control health care costs. Such proposals are contentious because they report on physicians’ medical practice behaviors (such as the number of tests ordered, use of specific therapies, etc.) and such reports could potentially be used to influence their clinical behaviors. The intent of this exploratory study was to examine physicians’ perceptions about linking a standard costing system to EBBP guidelines. The authors interviewed nine practicing physicians asking each physician to respond to the question, ‘As a physician working in a hospital environment, what are your reactions to and concerns with combining standard costing techniques with EBBP?’ The interviews were in-depth and free form in nature. The physicians’ responses were recorded and analyzed using Grounded Theory Methodology. Using this methodology the field data was categorized into two major themes. The most important theme centered on ethics and the second theme was concerned with the implementation and use of a standard cost system in regard to EBBP. If physicians’ worries about ethical dilemmas and implementation issues are not resolved, then it is likely that doctors would be unwilling to participate in any efforts to develop or use a standard cost-reporting system in medicine. While this study was exploratory in nature, it should provide future guidance to accountants, health care researchers and health care providers about physicians’ issues with the use of standard costing methods in medicine.     

Foreign Direct Investment and the External Wealth of Nations: How Important Is Valuation?

While the balance sheet approach has increased the focus on position data, differences in valuation practices for foreign direct investment (FDI) make cross‐country comparisons difficult. To enhance comparability, the IMF's Balance of Payments and International Investment Position Manual, sixth edition, which some countries have already implemented and others will implement in the coming years, recommends seven methods for valuation of unlisted FDI. This paper demonstrates that both the valuation method and simple differences in estimation techniques can fundamentally change a country's financial balance sheet. Using Denmark as an illustration, unlisted FDI equity liabilities vary from 22 to 156 percent of GDP when applying different estimation techniques, but just one valuation method, price to earnings. These measurement uncertainties can lead to important misunderstandings and affect policy recommendations, thus pointing to the need for further international harmonization. While the results are presented in an FDI context, the uncertainties also apply to other macroeconomic datasets, including national accounts statistics.     

未预期货币政策冲击与股票价格

货币政策影响股票价格的理论机制清晰确凿,实证检验的主要挑战是资本市场对货币政策冲击可能存在事先预期。基于货币政策公告后的国债收益率变动,文章识别了未被市场充分预期的货币政策冲击,并实证考察了 2000 年以来历次法定存款准备金率调整和贷款基准利率调整,发现未预期货币政策冲击对股票市场价格产生显著影响,1% 的未预期“降准”会引起上证指数和深证综指上涨 1.39% 和 1.415%,1% 的未预期“降息”会引起上证指数和深证综指上涨 0.662% 和 1.01%。     

Equity culture development in Central and Eastern Europe: The role of institutional and managerial factors

In this paper we argue that the development of equity culture in the CEECs is dependent on the presence of a combination of factors stemming from the external institutional and internal managerial environments of the firm. We adopt an inductive approach by firstly analysing two levels of data followed by a conceptualisation based on gained results. We examine data for ten CEECs (all current EU members) for four years 1996, 2000, 2004, and 2008. To examine the characteristics of the institutional and managerial environments of the CEECs and assess their similarities to four benchmarks (UK, USA, Germany, and Japan) we apply a Co-Plot methodology. We find that the presence of an advanced and well developed institutional framework together with the existence of specific managerial conditions is a necessary condition for equity culture development. One could argue that in the CEECs the transition process of institutional conditions necessary for the development of a sound financial system is in place but with some limitations. Furthermore, we find that managers in countries with the best potential for equity culture development are highly motivated, high-skilled people with international corporate experience.     

关于财政审计一体化条件下部门预算执行审计方法的探讨

目前,财政审计一体化为中央部门预算执行审计带来明显变化。对派出审计局而言,这也是深化部门预算执行的一个良好契机。如何适应这些变化,对于深入落实科学发展观,树立财政审计理念,更新知识,拓宽审计思路,意义重大。今后,应进一步坚持派出审计局"严格查处、立足整改、规范提高"的工作方针,不断研究探讨部门预算执行审计的方法。     

Do rating agencies’ decisions impact stock risks? Evidence from European markets

This article analyses the effect of rating agencies’ decisions on stock risks for European issuers concerning five kinds of events. Our approach is an extension of dummy variable regression event study methodology, using a GARCH(1,1) estimation to capture simultaneously the impact on both systematic and specific stock risks. This new methodology allows us to obtain both global results by categories of rating decisions and individual results, event by event. We document, globally, a positive impact of upgrading on systematic risk, a negative impact of rating confirmation on specific risk, and no significant impact in all other cases. Regarding event-by-event results, the proportion of rating actions exhibiting a significant effect on risk is almost always observed between 20% and 30%. The weak evidence of a global effect on systematic risk may be due to the lack of informational content of the rating decisions on the stocks’ risk, or the existence of rebalancing effects between systematic and idiosyncratic risks. Furthermore, it should be noticed that the decline in volatility in case of a rating affirmed is an insight of the certification role played by the agencies.     

Assessing Different Spatial Grouping Algorithms: An Application to the Design of Australia's New Statistical Geography

Abstract

Algorithms have been used to assist in the design of statistical geographies which define areal groupings for which official data are collected. Typically the groupings based on different parameter values or different algorithms are not formally compared, but summary statistics based on each solution can be constructed, some of which are based on fuzzy set principles. These principles can also be used to make incremental adjustments to solutions, based on different criteria. In this paper, we adopt the above methodology to compare the new statistical geography for New South Wales developed by the Australian Bureau of Statistics with that generated by an amended version of the Coombes algorithm.

RÉSUMÉ On a utilisé des algorithmes pour faciliter la conception de géographies statistiques définissant des groupements par zone pour lesquels des données officielles sont recueillies. En général, on ne compare pas officiellement les groupements basés sur différentes valeurs paramétriques ou différents algorithmes, mais il est possible de créer des statistiques sommaires sur la base de chaque solution, certaines desquelles sont fondées sur des ensembles de principes flous. Ces principes peuvent également être utilisés pour effectuer des modifications progressives sur des solutions, sur la base de différents critères. Dans la présente communication, nous adoptons la méthodologie susmentionnée pour comparer la nouvelle géographie statistique pour la province des Nouvelles Galles du Sud, créée par l'Australian Bureau of Statistics, avec celle qui a été produite par une version modifiée de l'algorithme de Coombes.

EXTRACTO Se han utilizado algoritmos para ayudar en el diseño de geografías estadísticas que definan los agrupamientos de áreas para los que se recopilan datos oficiales. Típicamente, los agrupamientos basados en valores de parámetros diferentes o algoritmos diferentes no se comparan formalmente, pero pueden construirse estadísticas resumidas basadas en cada solución, algunas de las cuales se basan en principios establecidos difusos. Estos principios también pueden emplearse para hacer ajustes incrementales a soluciones, basados en diferentes criterios. En este estudio, adoptamos la metodología anterior para comparar la nueva geografía estadística aplicable a Nueva Gales del Sur, desarrollada por la Australian Bureau of Statistics, con la generada por una versión modificada del algoritmo de Coombes.

摘要 : 在统计地理学设计中人们引入一些算法来定义采集官方数据的不同区域

分组 。通 常情况下 ' 基于不同参数或者算法的分组方式之间不会进行正式比较 ' 但是我们可以基于每种方法构建统计概要 ' 其中有一些使用了模糊集合理论 。这些理论也可用来根据不同准则对方案进行增量调整 。本文中 ' 我们使用上述方法比较了澳大利亚统计局为新南威尔士州建立的新统计地理学和采用修订的Coombes算法 得到的统计地理学 。