Marketing versus public relations in selling nuclear power

All too often, the terminology and practices of public relations are used when marketing is what is really needed. This misapplication appears most often when a concept, an idea, or an intangible product is involved. Webster defines public relations as: relations with the general public through publicity; those functions of a corporation, organization, branch of military service, etc., concerned with informing the public of its activities, policies, etc., and attempting to create favorable public opinion.This definition implies a general, ongoing effort to supply information supporting the image of an organization. There is, however, a considerable difference between this kind of activity and the specific, overt process of marketing. This difference has been particularly apparent in attempts of public utilities to “sell” nuclear power plants. Utilities, of course, are monopoly suppliers and, as such, must seek a favorable image in the community. Thus, when public opposition to nuclear power plants mounted, many utilities responded with stepped-up public relations programs; the method they knew best. This article examines the experience of several utilities in locating nuclear plants and suggests how marketing techniques might be used in selling this intangible product.     

An outcome-based assessment of international transfer pricing policy

Instead of concentrating on the selection of the optimal transfer pricing method, this paper focuses on the consequences of international transfer pricing for multinational entities. A sample of U.S.-based multinational firms is employed to determine if transfer pricing results in measurable financial outcomes. Results of the study indicate that firms employ international transfer pricing to meet a variety of objectives. The dollar value of international transfers and the foreign sales percentage are both significant explanatory variables for the financial outcomes of these objectives.     

利用闪存芯片作存储器的单片机应用系统

在测量及测试应用系统中,为使现场采集的数据在突发性的掉电过程中不被丢失,且能长时间的保持,可采用32M位闪存芯片KM29N32000TS作为存储器。本文以AT89S51单片机为例介绍它在单片机系统中的硬件连接和软件编程方法。     

Target zones in theory and history: Credibility, efficiency, and policy autonomy

An experiment with an exchange-rate band in Austria-Hungary in the early 20th century provides a rare opportunity to discuss critical aspects of the theory of target zones. Providing a new derivation of the target zone model as a set of nested hypotheses, the inference is drawn that policy credibility and market efficiency were paramount in the success of the Austro-Hungarian experience.     

Fair value disclosures and crash risk

In response to the public criticism of the inadequate disclosures mandated by SFAS No. 157, Fair Value Measurements, the FASB issued ASU (Accounting Standards Update) 2010–06, Improving Disclosures about Fair Value Measurements, and ASU 2011–04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements, in an effort to increase the reporting transparency. We examine whether the increased fair value disclosures required by these two updates effectively decrease crash risk, defined as the frequency of extreme negative stock returns. In support of the hypothesis, we find that increased transparency from these updates reduces crash risk among U.S. banking firms and that the reduction is greater in banks that have a higher level of Level 3 financial assets.     

上市公司“MD&A”信息质量评价模型——基于政府监管的视角

管理层讨论与分析(Management’s Discussion and Analysis,MDA)作为财务报表的有益补充,因其能够有助于增强信息披露的针对性和有效性而越来越受到信息使用者的关注。针对我国MDA信息质量不高的现状和评价体系不尽完善的情况,总结和吸收前人的研究成果,合理界定MDA信息质量特征。在此基础上,充分考虑MDA信息的生成机制和外部评价结果,采用层次分析法,构建适合我国上市公司MDA信息质量评价模型。     

The Global Financial Crises of 2007–2010 and the future of capitalism

This paper presents an analysis of the 2007-2010 Global Financial Crisis which started with the sub-prime crisis in the U.S. and became global very fast. It argues that the financial system in the United States is a complex interlocking structure of markets, institutions and regulators. The causes and culprits of the crisis, the misaligned incentives of participants and exogenous events such as the wars in Afghanistan and Iraq, precipitated failure in key markets: commodities, sub-prime housing, equities, and credit. One of the strategic consequences of this crisis is that the US will lose its dominance in world power, the frequent crises and vulnerabilities of the Neoliberalism and examines the future of capitalism. Of the alternatives to economic system, the capitalism is the most viable economic system. However, it must adopt real and efficient allocation of resources to maximize welfare of all parties and seriously address the income inequality. It must reject crony capitalism, enact true financial regulation of institutions and markets, end corporate socialism and address the system’s structural deficiencies.     

Evaluating Board Roles Performance in Adopting Corporate Social Responsibility （CSR） Practices

The purpose of this paper is to evaluate the board roles that make a board effective in the performance of adopting corporate social responsibility （CSR） practices. This paper examines directors＇ perceptions of the three main roles： monitoring, service, and strategic, which provide tools for critically understanding how the board adds the value in moving the organization towards more CSR practices. The stakeholder theory is used to distinguish the influence of the three main roles on the adoption of CSR practices. Primary data were collected for this research by conducting structured questionnaires with a sample of 461 directors from Saudi listed companies for study purpose. The results show that an appropriate mix of directors＇ roles and the development of sound board monitoring and service roles are the most crucial determinants of CSR adoption in Saudi listed companies. As the extant corporate governance and CSR literatures do not provide a clear perspective with contradictory outcomes about board roles in influencing CSR practices, the originality of this research is its contribution by evaluating the directors＇ perceptions of developing a direct relationship between the board roles and the adoption of CSR practices. Furthermore, the use of the stakeholder theory provides additional insights into identifying the most influential board role factors enhancing stakeholders＇ expectations of CSR practices.     

Social-economic Development of Small West European Peripheral Countries

In the framework of different countries＇ international comparison, the objective of this paper reflects research topic of investigation--the identification of small countries, revealing features of economic development and business growth in economic history context of small economies classification. The object of investigation focuses on West European and Nordic countries＇ small economies. The hypothesis of the article is that small states under consideration are developing as the business competitive peripheries areas due to the special Scandinavian capitalist model development characterized by high level of social capital. The statistical data base includes Organization of Economic Cooperation and Development indicators, World Bank parameters and Nordic transnational corporation＇s annual reports. The paper considers the following research questions： （1） the critical overview of the mainstream academicians opinions concerning different-scaled economies, （2） classification of small states and clarification of different groups of the small-scaled countries role in the world and regional economy through historical context, （3） estimates and variants of small countries＇ social-economic development in accordance with different parameters, （4） consideration of Nordic European countries coming to the business model of the competitive peripheral social-economic development. The main summing up conclusion is that small economies of Nordic Europe are converting nowadays into the experimental laboratory of the European and world economy due to the specific model of their social-oriented economic and business growth, their geopolitical location between developed European integration complex embracing presumably small-scaled states from one side and large-scaled emerging market economy of Asian continent from the other side.