论集权、分权均衡的实现及我国财政体制的优化

集权与分权的边际收益都是递减的,因此在政府间合理划分财政管理权限需要在二者之间实现边际收益相等。假定政府是利他的,追求公共利益最大化,则无论采用"自上而下"分权的思路还是采用"自下而上"授权的思路,都可以在集权与分权之间实现均衡;但如果政府是自利的,则采用"自下而上"授权的思路比采用"自上而下"分权的思路更有利于在二者之间实现均衡。我国财政体制问题的症结在于我国政府间特殊的权力划分关系,要解决我国的体制问题需要实现由"自上而下"分权向"自下而上"授权的转变。     

盈余稳健性与资产负债表稳健性的关联性

以中国上市公司为研究样本,采用盈余反应非对称系数和权益市场账面价值比(MTB)作为度量指标,对盈余稳健性与资产负债表稳健性的关联性进行实证检验,结果表明:盈余稳健性与资产负债表稳健性显著负相关,即资产负债表稳健性的存在会对盈余稳健性产生影响,随着资产负债表稳健性的提升,基于先占作用,公司的盈余稳健性会降低。     

畜禽载畜量预警的实证分析——以内蒙古牧业旗为例

从宏观经济的角度,以内蒙古33个牧业旗草畜平衡状况为例,建立了可食饲草储量模型、适宜载畜量估算模型和畜禽载畜量预警模型,并进行了实证分析,得出载畜量超载率。通过主要加入畜禽利用率、标准干草折算系数、草地利用率等参数弥补现有模型的不足。最后给出相关的政策建议。     

可持续发展理念下基于BSC-模糊物元的企业绩效评价

按照可持续发展战略的要求,基于平衡计分卡的四维思想,对平衡计分卡的结构内容进行改进,构建了包括持续增长财务、相关利益反映、QHSE运营流程、持续创新能力4个维度的企业绩效评价指标体系,并形成物元模型的物元特征集合,应用模糊物元分析方法,构建了可持续发展理念下基于BSC-模糊物元的企业绩效评价模型。最后进行了实例应用分析。     

考虑质押物损耗的存货质押融资决策模型

质押物的完整性是关系存货质押融资业务能否顺利开展的重要问题,质押物损耗长期困扰各参与方,阻碍了存货质押融资业务的顺利开展。考虑质押物损耗和第三方物流企业对质押物监管所带来的损耗节约的基础上,研究了存货质押融资最优决策。研究表明:当零售商的初始现金余额很低时,零售商的最优订购数量随着初始现金余额的增加而减少,之后零售商最优订货量保持不变,直到初始现金余额大于某一水平时,零售商的最优订货量开始增加;在零售商贷款且不存在破产风险时,银行的收益随着零售商初始现金余额增加而减少;当风险估值是需求的增函数时,零售商的最优订货量随利率减少。     

基于IE技术的笔记本电脑生产线平衡优化

文章通过对A公司笔记本电脑组装生产线进行研究,发现其存在生产线平衡率不高的问题。然后,根据生产线平衡的步骤及方法,运用统计分析的x-σ管制方法和ECRS方法,重新确定了工时,调整了部分作业工序内容,使各工序节拍趋于一致。     

An empirical investigation on loan applications and fear of rejection of external financing in the foodservice industry

This article examines the loan application decision patterns of small-cap foodservice firms and the causes of these firms’ discouragement (fear of rejection) in relation to their external finance-seeking efforts. We utilize information and data collected by the Survey of Small Business Finances on a variety of aspects related to small-cap foodservice firm owners and firms, including market-lender characteristics, use of financial services, and income and balance sheet information in the United States. Our primary findings reveal that sufficient liquidity and owner net worth reduce external finance seeking. In addition, firm credit quality and owner minority status increase discouragement toward external finance seeking, while education reduces fear of rejection.     

Game Outcome Uncertainty and Television Audience Demand: New Evidence from German Football

Despite its prominence in the economic literature, our knowledge regarding the role of game outcome uncertainty (GOU) in spectator decision‐making is fairly limited. Even worse, studies testing the uncertainty of outcome hypothesis (UOH) by exploring TV demand for European football have further intensified the original ambiguity. In this paper, we revisit the role of GOU in spectator decision‐making by testing the UOH with regard to two different sporting products: (1) domestic league and (2) knockout tournament games. Analyzing TV demand for almost 1,500 German football games, we find support for the UOH in league, though not in knockout tournament games.     

Evidence of Manager Intervention to Avoid Working Capital Deficits

We study managers’ interventions in financial reporting by examining working capital deficits, measured as current ratios less than 1.0. Current ratios represent important balance sheet liquidity indicators to lenders and creditors, and have an identifiable and naturally occurring reference point at 1.0, analogous to the profit/loss income statement reference point. We find that distributions of reported current ratios of both U.S. and non‐U.S. firms exhibit a discontinuity at 1.0. For U.S. firms, we find that the discontinuity increases with exogenous increases in the cost of credit in the economy, and that determinants of the likelihood to achieve a given current ratio are diagnostic precisely at the 1.0 discontinuity location but not at other nearby locations in the current ratio distribution. U.S. firms that avoid working capital deficits report lower proportions of inventory and higher proportions of accounts receivable in current assets and, when credit is tight, higher proportions of cash, consistent with managers increasing sales volume so as to capitalize profit margins and thereby increase current assets. For non‐U.S. firms, the discontinuity is more pronounced for observations from common law countries, a proxy for jurisdictions where financial reports are more intended to provide decision‐useful information. The evidence suggests that managers intervene to achieve a balance sheet reporting objective that stems from stakeholder use of reference points.     

利用能源平衡表校准投入产出表的方法与应用

针对模型模拟中投入产出表与能源平衡表投入产出关系可能不一致的问题,利用投入产出分析的价格模型,用能源平衡表对投入产出表进行了部门能源消费的校准,得到的混合型投入产出表与能源平衡表完全符合。这一工作可以改进目前可计算一般均衡（CGE）模型工作中广泛存在的数据不一致、调整缺乏依据以及比较与校准不足的问题。