中国上市公司最优资本结构统计分析

文章分析了最优资本结构的几种衡量标准，认为市场价值是衡量最优资本结构的最佳标准。以2000-2005年中国上市公司为样本，对最优资本结构的年度差异和行业差异进行了统计检验，给出了分年度、分行业的最优资本结构，并封统计结果进行了讨论。     

Debt and corporate governance in emerging economiesEvidence from India1

We analyze the role of debt in corporate governance with respect to a large emerging economy, India, where debt has been an important source of external finance. Using cross‐sectional data on listed manufacturing firms we estimate, simultaneously, the relation between Tobin's Q and leverage for three years, 1996, 2000 and 2003. Our analysis indicates that while in the early years of institutional change, debt did not have any disciplinary effect on either standalone or group affiliated firms, the disciplinary effect appeared in the later years as institutions became more market oriented. We also find limited evidence of debt being used as an expropriation mechanism in group firms that are more vulnerable to such expropriation. In general, our results highlight the role of ownership structures and institutions in debt governance.     

上市公司财务管理目标的选择

“股东财富最大化”与“企业价值最大化”分别作为上市公司的财务管理目标,一直深受关注。文章从上市公司的治理结构入手,重点分析我国的国情特别是上市公司的现状,得出股改后的中国选择“企业价值最大化”作为财务管理目标是必然的。     

Lease Financing and Corporate Governance

Lease financing is a well‐recognized mechanism for reducing the agency costs of debt. This study examines whether firms that attempt to control the agency costs of equity through strong governance structures, including Chief Executive Officer compensation alignment and board structure, are more likely to use an agency cost reducing debt structure, such as leasing. For a sample of large firms, we find that firms who use more incentive compensation and have more outside directors also tend to use more lease financing, suggesting these agency cost reducing measures are complements.     

武汉市科技投入结构分析及优化政策

本文通过对科技投入与经济增长的关系进行概括分析,在2002～2007年《武汉科技统计年鉴》数据的基础上,阐述了科技投入对武汉市经济和社会发展的重要意义;分析了武汉市的科技投入现状,并通过与国外一些发达国家及地区科技投入结构的系统比较,提出了优化武汉市科技投入结构的一些政策及建议。     

钢结构资产的抵押潜能:枣庄案例

枣庄市创新开办钢结构资产抵押贷款新业务,挖掘和提高了中小企业自身抵押担保能力,突破了钢结构厂房资产动产性质认定的瓶颈,符合政银企各方利益诉求,具有较强的可操作性、易复制性,对破解中小企业融资困局具有推广价值。     

浅谈钢结构厂房防火设计

文章简述了钢结构具有的特点,参考国内外资料,论述了钢结构抗火设计及防火保护的基本方法。并结合实际,从火灾危险性类别、防火设计方法、防火分区等方面阐述了钢结构的抗火设计思路,对钢结构厂房消防设计发展趋势进行了探讨。     

袋式除尘器的原理及在烟草生产中的应用

文章介绍了袋式除尘器分类、特点，以及袋式除尘器的结构与工作原理；着重介绍了袋式除尘器在烟草生产中的运行和管理，以及常见故障的处理方法，以供同行参考。     

钢管冷拔机结构缺陷的分析与改进方案的确定

冷拔机的小车钳口镶板、链轮、上料装置存在的设计结构缺陷,是造成冷拔机钢管弯曲的重要原因。文章通过对上述结构进行分析和重新设计,较好地解决了设计缺陷问题,提高了钢管拔直度。