最低工资制度对我国区域城镇就业的影响

本文对我国东、中、西部三大区域最低工资制度对城市就业的影响进行了研究,首先,对三大区域最低工资实施概况及特点进行了分析,其次,运用面板数据模型对三大区域最低工资标准对城镇就业的影响进行了计量分析,最后根据模型计量结论提出了相应的政策建议。     

工程量清单计价在建设工程造价管理中的应用

实行工程量清单计价,是我国建设领域的一场革命;是工程造价管理改革的里程碑;是采用技术手段规范建设市场秩序,是从源头治理腐败的措施之一;是我国加入WTO后,建设领域与国际接轨的具体措施。现就工程量清单计价在建设工程造价管理中的应用进行简要分析。     

关于《油田生产系统能耗测试和计算方法》标准中几个问题的探讨

针对SY/T5264-2006《油田生产系统能耗测试和计算方法》标准在指导油田生产系统能耗测试工作时存在的问题,基于目前国内油田生产系统能耗测试技术现状,讨论了标准中存在5个方面的问题,并对修订标准提出了几点建议。     

The Air Transport Industry Crisis in Brazil and in the USA and Companies' Additional Value Due to Real Options Analysis

ABSTRACT

This research describes the analysis of a Brazilian international airline of a regular passenger air transport company, modeled according to real options analysis. Such analysis is appropriate since the air transport industry, nowadays, in crisis in Brazil and in the USA, is subjected to strong uncertainties such as passenger revenue and airplane fuel prices. Through real options analysis, we show that flexibility due to the options to expand and reduce flight frequencies or even to abandon operations, together with market uncertainties, adds considerable value to an air carrier's planes, making it possible to show its creditors a less myopic business viability when compared to traditional valuation methods.

RESUMEN. Esta investigación describe el análisis elaborado sobre una empresa brasileña de transporte aéreo internacional de pasajeros, trazada de acuerdo a un análisis de las alternativas reales. Este tipo de análisis se considera apropiado, ya que la industria de transporte aéreo, que actualmente sufre una crisis tanto en Brasil como en los Estados Unidos, está sujeta a fuertes incertidumbres tales como los ingresos obtenidos con el transporte de pasajeros y los precios del combustible aéreo. Gracias al uso del análisis de las alternativas reales, demostramos que la flexibilidad resultante de las alternativas de expansión y reducción de las frecuencias de los vuelos o hasta el abandono de ciertas operaciones, conjuntamente con otras incertidumbres del mercado, agregan un valor considerable a las aeronaves de la aerolínea, permitiendo que muestre a sus acreedores una factibilidades menos restringida en comparación a la obtenida con los métodos de evaluación tradicionales.

RESUMO. Esta pesquisa descreve a análise de uma rota aérea internacional de uma companhia brasileira de transporte aéreo regular de passageiros, modelada a partir da análise de opções reais. Tal análise se mostra apropriada uma vez que o setor de transporte aéreo, atualmente em crise no Brasil e nos EUA, está sujeito a consideráveis incertezas, tais como receita de passageiros e preços do combustível de avião. Através da análise de opções reais, mostramos que a flexibilidade proporcionada pelas opções de expandir ou reduzir freqüências de vôo ou até mesmo abandonar operações, somada às incertezas do mercado, adicionam valor considerável a uma companhia aérea de carreira, possibilitando mostrar a seus credores uma viabilidade de negócio menos míope quando comparada àquelas geradas por métodos tradicionais de avaliação.     

Book Reivew Section

Books reviewed:
Alan Davies, Myles McGregor-Lowndes and Robert Craig The Internet for Accountants
Wayne Lonergan The Valuation of Businesses, Shares and Other Equity , 3rd Edition
Frank K. Reilly and Keith C. Brown Investment Analysis and Portfolio Management , 5th Edition     

On the Asymmetry of the Vagueness Band in Willingness to Pay Answers

The NOAA panel for Contingent Valuation opened up the question of the possibility of using trichotomous choice discrete formats in CV studies. In this paper we show how the trichotomous choice format can be used for testing the successfulness of the project definition in the questionnaire. We shall define the vagueness band around the true outcome of the project to be valued and we allow it to be asymmetric. It is shown how this asymmetry can be modelled and estimated. We also show how these new models are generalisations of ordinary ordered probit/logit models.     

Lean Trees—A General Approach for Improving Performance of Lattice Models for Option Pricing

The well-known binomial and trinomial tree models for option pricing are examined from the point of view of numerical efficiency. Common lattices use a large part of time resources for calculations which are almost irrelevant for the solution. To avoid this waste of resources, the tree is reduced to a lean form which yields the same order of convergence, but with a reduction of numerical effort. In numerical tests it is shown that the proposed method leads to a significant improvement in real calculation time without loss of accuracy for a broad class of derivatives.     

分部报告的会计难点分析

风险报酬法与管理法各有优缺点,我国应以行业或地区为标准,并结合内部组织制度和内部报告制度确定。报告分部一般可采用国际上10%和75%的标准,结合我国国情还应作进一步的考察。在披露内容上,注意分部收入和分部费用中一些非常项目和不能合理分摊的项目不宜进入分部报告,注意选择适当的分部报告方式。     

Linear Accounting Valuation When Abnormal Earnings Are AR(2)

The Ohlson (1995) model assumes that abnormal earnings follow an AR(1) process primarily for reasons of mathematical tractability. However, the empirical literature on the Garman and Ohlson (1980) model finds that the data support an AR(2) lag structure for earnings, book values and dividends. Moreover, the AR(2) process encompasses a far richer variety of time series patterns than does the AR(1) process and includes the AR(1) process as a special case. This paper solves the Ohlson model directly for an AR(2) abnormal earnings dynamic. The model is estimated on a time series firm-level basis following the approach used by Myers (1999). It is found that, like the Ohlson AR(1) model, the Ohlson AR(2) model severely underestimates market prices even relative to book values. These results further bring into question the empirical validity of the Ohlson model.     

The Use of Census Data for Hedonic Price Estimates of Open-Space Amenities and Land Use

Hedonic price models for determining marginal implicit prices of open-space amenities and nonresidential land use were estimated using housing data from the census. Alternative model specifications were compared to evaluate the effects of aggregating land-use data by alternative levels of census geography as well as the use of different sample sizes of census blocks. It was determined that land use is best aggregated at the block group level and that entire populations or very large sample sizes of census blocks should be used with hedonic models.