Localisation barriers to trade: The case of South Africa’s renewable energy independent power program

South Africa’s Renewable Energy Independent Power Projects Procurement Program (REIPPPP) has been hailed as one of the most successful programmes of its kind, contracting 92 renewable energy projects totalling 6 328 MW and US$20.5 billion since its inception in 2011. Despite this success, the programme’s use of non-price factors such as local jobs, local black ownership, local content, and local community ownership in bid evaluation has generated criticism and controversy. Lessons learned in other countries about how and when to use policies like import substitution to promote sustainable economic development seem not to have been fully incorporated by the REIPPPP. We therefore offer a cautionary note that dramatic and impressive localisation results are not inevitable – especially considering the size of the South African market and accompanying investment uncertainties – and that there is bound to be a trade-off between price and non-price factors in these kinds of competitive procurement programmes.     

建筑结构设计中应注意的问题浅析

建筑结构设计是一项系统的、全面的工作,在设计中存在的问题是多种多样的,需要扎实的理论知识功底,灵活创新的思维和严肃认真负责的工作态度。通过加深对建筑结构设计内容与原则的认识,注意结构设计中常见的问题,可以有效地提高结构设计水平。     

流砂地质处箱涵施工技术浅析

流砂地质处结构物施工关键在于处理好地表水及地下潜层水,不扰动结构物外侧原状土,合理安排降水时间,使工作衔接紧凑,在保证施工质量的前提条件下能节约施工成本。     

浅谈公路沥青路面预防性养护

为了保持建成的公路具有良好的使用性能,保证社会经济所要求的适用质量和服务性能,保证国家的投资发挥最大的效益,必须遵循建养并重的方针,通过对现有路网的技术改造和强化科学养护管理,由原有的被动型,应急型的传统养护方式,向科学、现代的预防性养护方式转变。预防性养护正是这种有别于传统的矫正性养护的方式,是对现有道路有计划、经济有效的一项维护措施。     

钙质砂地基桩侧摩阻力影响因素分析

钙质砂是一种海洋生物成因的特殊岩土介质,在钙质砂地基中的桩基工程又很常见。桩侧阻力的研究是桩基承载力性状研究中的一个重点,由于受到诸多因素的影响,桩侧阻力的计算变得十分复杂,本文通过对桩长、桩径、桩周土性质、桩端土强度、时间长短等诸多影响因素的讨论,发现不同条件下桩侧阻力的变化具有一定的规律性,且这些因素有着相互的联系,并提出今后重点研究方向。     

杭州市教育系统学校基建项目绩效评价体系研究

简述了基建项目绩效评价的内涵,就杭州市教育基建支出及绩效评价的现状探讨如何构建杭州市教育基建支出评价体系。     

重构中职物流专业商品学课程内容的探讨

目前中职物流专业商品学课程在实践性、专业性等方面存在不足,需要重新构建商品学的教学内容,编写专门的教材,提升物流专业培养的职业素质和专业特色。     

Are Islamic incomes relevance to commercial banks in Malaysia？

A significant price-to-earnings relation is evident in many research findings, which includes study on Malaysia Stock Markets, that the strength, consistency and magnitude of the relation are not as large as those reported in institutionally more developed markets. However, the price adjustment is stronger if price reaction is measured over a long periods, which is consistent to speculative trading. Firm-specific variables such as revenue, firm size and debt-equity have no incremental information content beyond earnings implies that the market monitoring process in an emerging market focuses on earnings only during financial announcement. Therefore, this paper revisited the study on the relevant of accounting banks in Malaysia using the earnings response coefficients, earnings by looking at Islamic Income for commercial which are the earnings-to-share return coefficients that are estimated for sub earnings components by including Islamic banking incomes in the analysis. This paper discovered that though there is a positive effect, the earnings from Islamic banking operation are small. Thus, the total earnings as well as the sub-categories of earnings of banks appear to enter the pricing considerations of investors.     

国有林改革研究的回顾与分析

以2000年到2012年期间发表在《世界林业研究》、《林业经济》、《北京林业大学学报》、《东北林业大学学报》、《农业经济问题》等几类期刊上以及中国博士学位论文全文数据库、优秀硕士学位论文全文数据库的国有林改革文章为样本,对2000年以来中国国有林改革的过程,从研究内容、研究时间区间、期刊选择文章的偏好等3个维度进行了系统分析,形成了一系列研究结论,并提出了相应的建议。     

Information content and the contractual nature of hedging derivative incomes

In a sample of 87 banks representing 631 bank-years for the period 1996–2003, we examine whether information content of hedging derivative incomes is predicated on the contractual nature of the derivative. Of particular interest are the different abnormal trading volume reactions to incomes arising from executory contracts (i.e., cash flow and net investment hedges) and incomes arising from nonexecutory contracts (i.e., fair value hedges). We find a positive and significant relationship between two alternative measures of abnormal trading volume and incomes arising from cash flow and net investment hedges. The results are robust in an equity valuation framework. Our findings suggest that derivative incomes are informative, notably those incomes that are related to executory contracts. An implication for standard setters is that the complex rules for disaggregating incomes on hedging derivatives provide valuable information to the market.