Line-of-Business Disclosures and Spin-Off Announcement Returns

We investigated disclosure decisions by identifying a circumstance, the spin-off of a segment, where the benefits of disclosure should outweigh the costs. We compared the valuation revisions associated with spin-off announcements of firms with previous line of business disclosures to valuation revisions of firms making spin-off announcements without these disclosures. We found significant stock price increases associated with the spin-off announcement regardless of prior segment disclosure history. We also found, however, that the stock price increases were temporary for firms without prior segment disclosures, while the valuation revisions for firms with previous line-of-business disclosure information persisted.Data Availability: The data employed in this study are available from the sources identified in the text.     

特殊工况下盾构机出井吊装施工技术研究

为了解决在特殊情况下进行管片外径为8.8 m的盾构机接收、拆解和吊装作业问题,结合施工现场实际情况,对特殊工况下盾构机吊装出井技术措施进行研究。首先对吊装过程中最不利因素进行分析,其次提出了在结构未完全完成工况下盾构机吊装解决方案,同时进行了有、无措施的吊装作业对现有不完整井结构变形影响的数值模拟分析,并分析了在有措施的工况下吊车支腿地基承载力及基坑侧压力,最终提出了在接收井结构不完整情况下盾构机接收、拆解、吊装出井及施工监测的技术措施。结果表明：实际工程应用中,所提盾构机出井吊装施工技术措施可行可靠;有限元分析结果与实际监测变形规律基本一致,变形可控。研究结果丰富了特殊工况下盾构机吊装作业的施工技术,可为类似情况下的隧道工程吊装作业提供借鉴。     

完善我国分部报告准则内容探析

随着我国经济的不断发展，分部报告的作用日益重要，对于分部信息的披露规范也越来越重要，因此有必要对分部报告准则进行研究，以完善分部信息的披露，保证经济的健康、有效运行。     

Change in value relevance of quarterly foreign sales data of U.S. multinational corporations after adopting SFAS 131

This paper investigates the change in value relevance of quarterly foreign sales data of U.S.-based multinational enterprises after adopting Statement of Financial Accounting Standards No. 131 (SFAS 131). First, I examine whether the interim foreign sales data of all sample firms are valued at a higher rate by equity investors after the firms adopt SFAS 131. My empirical findings indicate that for all sample firms the value relevance of quarterly foreign sales data increases after the firms adopt SFAS 131. I then examine whether the valuation consequence of firms that change their geographic segment definition after they adopt SFAS 131—segment change firms—changes after those firms adopt SFAS 131. Based on the empirical results, I conclude that quarterly foreign sales data of segment change firms are priced at a relatively higher rate after SFAS 131 is adopted.

软流塑超浅埋小半径穿越危房始发施工技术

以无锡地铁1号线08标[胜利门站-三阳广场站]盾构区间为工程背景,总结了软流塑超浅埋小半径穿越危房始发的施工技术,介绍了盾构在此种复杂恶劣条件下施工的控制措施及实施过程中遇到的问题和解决方法。     

高环境风险下盾构在全断面粉细砂层中的掘进控制

本文介绍了郑州地铁2号线广~新~国区间EPB盾构在全断面富水粉细砂层中掘进遇到的一系列困难时,采取的一些相应改进措施与掘进参数调整,最终达到安全下穿重大环境风险的施工成果。     

Equally weighted portfolios vs value weighted portfolios: Reasons for differing betas

We prove that constituent companies’ capital structure and tax shield cause the difference in systematic risk between an equally weighted portfolio and a value weighted portfolio in an efficient market where the CAPM holds. The difference in systematic risk has positive association with component companies’ default risk.     

DL/I技术浅析

本文针对ＩＢＭ公司ＤＬ／Ｉ数据库的数据模式、程序调用、出错信息等方面，详细论述其定义和格式，以及程序调用的一些技巧。     

铁路桥连续刚构边跨现浇段的吊架设计及受力检算

采用挂篮施工的连续刚构边跨现浇段的支架形式多种多样，其设计目的是施工简便、安全牢固、确保质量及节约成本。在遂渝二线铁路薛家坝涪江左线特大桥连续刚构梁边跨现浇段施工时采用型钢吊架支撑。吊架分别利用原施工悬浇节段的挂篮及在墩顶预埋“工”字钢作支承点。吊架施工现浇段不仅结构简单、施工方便，而且在安全、质量及效益方面均取得了很好的效果。文章对型钢吊架的设计、施工方法进行了详细介绍，并对吊架进行了受力分析及验算，验证了方案的可行性，为以后同类桥型的施工提供参考。     

Social inequalities in injury risk in Wales,U.K.

Road traffic accident data in Nigeria generally lack exact coordinate information. Accident analysis is, therefore, restricted to aggregate data on trends, magnitude and temporal dimensions. This article addresses the road accident problem in Jos between 1995 and 1999 through a road profiling approach. Results show that four gateway routes, seven multilane roadways (including two gateway routes) and seven road intersections accounted for 84% of all traffic accidents, 84% of injured casualties and 88% of fatalities. This approach allows for quantification of impacts of controlling for accidents by deliberate profiling of roads for close monitoring and policing. For example, reducing accident counts and fatalities by 50% each on gateway routes will amount to ～35 and 40% reduction in accident and fatality counts, respectively. Countermeasures must consider these roadways and intersections as important inputs in their accidents and casualty reduction targets.