Further issues in forecasting primary energy consumption

The series of papers by Marchetti [8, 9, 10] and Graham and Senge [4] (published in this journal between 1977 and 1980) represents a useful alternative approach to the problems of energy demand forecasting and primary energy substitution. The learning system approach seems a most appropriate investigative framework, given the aggregated treatment of the energy supply-demand system. It is also interesting for its attempt to establish a link between the structure of the primary energy markets and the 50–60 year cycles of basic innovations.This paper seeks to illustrate further conclusions from the reported research findings, by considering additional energetic criteria. These additional criteria—energy concentration (or quality) and energy accessibility—appear to reinforce the linkage between innovation waves and primary energy substitution patterns, though we modify the interpretation placed on this connection. Furthermore, the additional criteria lead to alternative conclusions about future energy supply, namely that previously discarded energy sources may be revisited and may retain some of their earlier market share.     

Group Affiliation and Ownership Concentration as Determinants of Capital Structure Decisions: Contextualizing the Facts for an Emerging Economy

This study considers the firm’s affiliation with business groups and the ownership structure as determinants of leverage decisions in Chilean firms. The major findings show that group-affiliated firms take advantage of internal capital markets and transactions with related parties (e.g., low transference price or loans at competitive interest rates) that reduces the demand for external debt. Majority shareholders in affiliated firms behave as controllers of managers, on the one hand, and avoid the supervisory role of debt, on the other hand. In stand-alone firms, supervision led by majority shareholders is complemented by the monitoring role of debt through higher levels of leverage. We conclude that further developments in capital structure theories adjusted to the particularities of the different institutional contexts are needed.     

Trade Between North Korea and China: Firm-Level Analysis

Using the unique survey data involving 138 Chinese firms, this study examines the determinants of the performance of the Chinese firms doing businesses with North Korea. The business ties between the Chinese firms and their North Korean counterparts affiliated with the army are positively correlated with the former’s performance. This finding suggests that North Korea’s “Military First” policy acts as a guiding principle of the resource allocation in the country’s export sector. We also found that South Korean sanctions against North Korea were ineffective in banning North Korean goods from gaining access to the South Korean market possibly because of the circumvention of Chinese firms.     

基于“新都市主义”的混合社区:城市郊区化的一个新思路

在中国诸多大中城市郊区化进程中,一个非常显著的现象是:高档和低档住宅的二元分立,从而破坏了人们居住空间的复合性及和谐性.造成这一现象的根本原因并非人们的"阶层"意识,而是城市郊区化的潜在思路:仅仅关照人们的居住,却没有关照人们的生活,人们的完整生活在郊区化过程中被割裂了.解决这一问题的出路是构建混合式社区,而其理论基础是新都市主义.     

滨海新城的发展策略

通过对我国滨海新城发展背景的回顾,总结其发展特征,认为滨海新城发展的本质是工业化超前城市化发展。未来滨海新城的发展必须面对土地、生态多方面的制约,表现在发展模式、经济形式和功能构成上有所转变。由此从区域、产业、城市空间、土地利用、生态景观、旅游等多方面展开应对性策略研究。     

供应链下的新型物流——第四方物流

目前第四方物流（4PL）作为一种新的物流形态已经引起了理论界和企业界的重视,文中介绍了第四方物流的内涵及特点,分析了第四方物流与第三方物流的区别,随后介绍了第四方物流公司的运作模式。     

The Reaction by Industry Insiders to M&;As in the European Financial Industry

This paper looks at the reaction by industry insiders, industry analysts and competing firms, to the announcement of M&As that took place in the European Union financial industry in the period 1998–2006. Analysts covering firms involved in an M&A transaction do not significantly alter their recommendation. This is consistent with the hypothesis that the transaction on average is “fairly priced” and that stock market prices reflect all relevant information on the assets. We also find that the correlation between excess returns for merging and competing firms is positive and, in some cases, significantly higher for domestic mergers than for international deals. This is consistent with the idea that domestic deals are more likely to have a negative impact on industry competition.

美国SEC采取的异常行动对IASB影响的分析——SEC提出以IFRS取代US GAAP

本文试图研究美国 SEC 于2007年发布两个要求评论的文件草案(一为概念公告,另一为建议规则),这两个公告的主题是允许美国上市公司和外国在美国上市的私人公司均可按照国际财务报告准则编报它们的财务报表,而无需按美国公认会计原则进行调整,这是国际会计与审计界一件关键性大事。本文对美国 SEC 出人意外的行动——将在2013年采用 IFRSs 取代本国的 GAAPs 及其背景进行了分析,并提出我国值得考虑的对策。     

马克思与新制度经济学学者企业边界观点比较研究——以企业边界扩张约束问题为视角的分析

马克思与西方新制度经济学学者都对企业的规模边界约束因素进行了分析.但马克思主要从现实的生产环节出发,从生产力与生产关系历史发展之具体角度进行分析;而新制度经济学学者主要从交易费用这一相对抽象角度进行分析.两种理论主张对现实都有一定的启示意义.