Is the relationship between investment and conditional cash flow volatility ambiguous,asymmetric or both?

We investigate the effect of cash flow volatility on investment. Our evidence suggests that financially constrained firms decrease investment (i) when experiencing persistently high volatility; (ii) when experiencing both high volatility and negative cash flow growth realisations; and (iii) when holding low cash levels and experiencing both high volatility and a negative cash flow growth realisations. In financially unconstrained firms, the above effects are either not found or are of relatively low economic importance. Overall, our findings lend support to the financial flexibility literature and tend to contradict predictions of the real options literature.     

对构建普惠金融体系的思考——以吉林省为例

普惠金融是2005年联合国在小额信贷年上提出的一个金融发展的概念。我国的普惠金融发展较为迅速，尤其是针对农业、农村、农民的三农普惠金融发展初具规模，江西、重庆、内蒙古、浙江等地都相继出台各种惠农措施践行普惠金融。吉林省作为我国的农业大省，农村发展的信贷需求较大，本文从吉林省金融的供需现状出发，提出了吉林省普惠金融体系构建的想法。     

区域经济协调发展的金融法控制研究

随着市场经济制度的不断完善,同时区域经济发展的差距也拉大了,虽然区域经济不协调发展的解决有多种办法,但金融法作为宏观调控居于核心地位。本文首先对区域经济协调发展金融法调控的内涵和相关的理论进行了分析,紧接着指出我国区域经济协调发展金融法调控的现状、存在的问题;最后提出完善我国区域经济协调发展金融调控法律制度的对策建议。     

流转税收入分配调节功能初探

流转税不仅是筹集财政收入的重要手段，而且还具有一定的收入分配调节功能。近几年来我国税收不断超收，流转税作为我国的主体税种在组织财政收入方面的作用发挥的比较好，但其在调节收入分配方面的作用却表现不足，导致流转税调节收入分配乏力的主要原因是现行的流转税设计存在一些问题，因此只有改革和完善现行流转税制，才能更好地发挥流转税的收入分配调节功能。     

企业财务管理信息化建设分析

积极推进企业财务管理信息化建设,不但是探索企业资金集中统一管理的有效途径,也是当前加强企业管理、深化企业改革、规范建立现代企业制度过程中的一项重要工作,特别是随着国有企业改革的深化和我国加入世贸组织,积极推进财务管理信息化建设,不仅有助于加强企业内部财务管理与资金监控,从而提高资金使用效率和实现风险控制,而且对于增强我国企业的核心竞争力,积极参与国际竞争有着十分重要的现实意义和深远的战略意义。本文分析了我国企业财务管理信息化建设中存在的问题,提出了加快企业财务管理信息化建设的对策。     

关于我国农村流通领域中经营主体改革的一个新构想

改革开放30年来,我国农村流通领域取得重要进展,但目前我国农村流通领域仍存在比较突出的问题。本文主要从流通领域中的经营主体出发,分析了目前多元化主体存在的问题,提出了一个对经营主体改革的一个新构想。     

Competition or Oligarchy?: The Jordanian Business Elite in Historical Perspective

Abstract

It is of ten stated that eco nomic re form in Jor dan is com -pli cated by the fact that the rent cir cu la tion dur ing the oil boom of the 1970s and early 1980s has led to the emer gence of an allocative state sub or di nat ing the pri vate sec tor. How ever, as I will ar gue in this pa per, there ex ists a pri vate sec tor elite in Jor dan en joy ing vast priv i leges that con trib utes to the prob lem of trans form ing a rent-based econ omy into a fully-fledged, com pet i tive mar ket econ omy. The pa per fo cuses there fore on the his tor i cal de vel op ment of this busi ness elite and on its re la tion ship with se nior bu reau crats.     

中学历史课教学改革中教师角色的定位与转换

中学历史课所传授的是综合性很强的知识,对于引导中学生健康成长具有非常重要的作用。中学历史课教师要适应新形势的需要,在观念、内容、方法和机制上不断创新。本文从中学历史课教学改革中教师的角色定位和策略上提出了几点有益的探讨。     

Financial safety nets: reconstructing and modelling a policymaking metaphor

This paper explains that financial safety nets exist because of difficulties in enforcing contracts and shows that elements of deposit-insurance schemes differ substantially across countries. It shows that differences in the design of financial safety nets correlate significantly with differences in the informational and contracting environments of individual countries and that a country's GDP per capita is correlated with proxies for a country's level of: (1) informational transparency, (2) contract enforcement and deterrent rights, and (3) accountability for safety net officials. The analysis portrays deposit insurance as a part of a country's larger safety net and contracting environment. This means that there is no universal method for preventing and resolving banking problems and that the structure of a country's safety net should evolve over time with changes in private and government regulators' capacity for valuing financial institutions, disciplining risk taking and resolving insolvency promptly, and for being held accountable for how well they perform these tasks.     

基于岗位技能培养的高职商务英语教学改革探析

高职院校的教学目标应以培养学生的岗位技能为中心。基于此,高职院校的英语专业教学应以市场就业为导向,以岗位技能培养为核心,构建语言+专业+技能的模块化教学体系,培养市场需要的一专多能的复合技能型人才。