新农村建设与经济发展模式重建

建设社会主义新农村,既是推动和促进我国农村经济和现代农业发展的必由之路,也是进一步加快我国整个国民经济增长和全面提高经济发展与社会进步综合效益的一个重要方面,并在促进和实现我国经济社会发展的地域构造与产业配置结构以及资源开发利用模式的有效转变与重建方面具有十分重要的现实意义和深远的历史意义.     

Portfolio Optimization under Lower Partial Risk Measures

Portfolio management using lower partial risk (downside risk) measures is attracting more attention of practitioners in recent years. The purpose of this paper is to review important characteristics of these riskmeasures and conduct simulation using four alternative measures, lower semi-variance, lower semi-absolute deviation, first order below targetrisk and conditional value-at-risk.We will show that these risk measures are useful to control downside risk whenthe distribution of assets is non-symmetric. Further, we will propose a computational scheme to resolve the difficultyassociated with solving a large dense linear programming problems resulting from these models. We will demonstrate that this method can in fact solve problems consisting of10⁴ assets and 10⁵ scenarios within a practical amount of CPU time.     

Credit Risk in Two Institutional Regimes: Spanish Commercial and Savings Banks

Although credit risk is an important factor that financial institutions must cope with, the determinants of bank problem loans have been little studied. Using panel data, we compare the determinants of problem loans of Spanish commercial and savings banks in the period 1985–1997, taking into account both macroeconomic and individual bank level variables. The GDP growth rate, firms, and family indebtedness, rapid past credit or branch expansion, inefficiency, portfolio composition, size, net interest margin, capital ratio, and market power are variables that explain credit risk. However, there are significant differences between commercial and savings banks, which confirm the relevance of the institutional form in the management of credit risk. Our findings raise important bank supervisory policy issues: the use of bank level variables as early warning indicators, the advantages of bank mergers from different regions, and the role of banking competition and ownership in determining credit risk.     

产权改革是经营改革的基础--论我国国有商业银行改革的关键

一般认为 ,产权改革是我国国有企业改革的关键。但对于同样属于国有企业的国有商业银行的改革 ,人们却往往把重点放在经营问题上 ,以至无法从根本上提高国有商业银行的效率。本文以我国国有商业银行的贷款量为切入点 ,运用模型和数据说明在产权关系不明晰的前提下 ,政府运用行政手段对银行经营者进行监管的不良效果 ,同时论证了产权关系对委托—代理问题的决定性作用     

经济结构调整与中小企业的发展

经济结构调整 ,朝阳和夕阳产业在不同国家有不同的表现 ,在产业轮换中 ,产业进入障碍限制了不同规模企业在部门间的资本转移。新兴产业是中小企业容易竞争优势的地方 ,但新兴产业不是向所有投资者开放。高新技术产业 ,需要全新概念的投资者 ,中小企业的投资者最好把投资局限在自己能力和熟悉的范围内 ,这是中小企业投资者保持投资的成功所在     

农村费改税实施的阶段性成就及新问题探讨

农村费改税从2000年在安徽省试点以来，2002年已推广到全国16个省，这项将造福我国9亿多农民的改革目前在已实施的地区取得的效果是显的，但也产生了一些新的问题。本通过对已实施地区阶段性成就的总结，探讨了其中出现的一些新问题。     

The effect of accounting firm mergers on the market for audit services: New Zealand evidence

This article examines the outcomes of accounting firm mergers using data about the frequency of audit switches, the numbers of partners in the respective firms, and perceptions revealed in interviews with partners. Evidence from client switches does not show any evidence that the mergers were followed by cost reductions, or of collusion to force prices up. The effects of the mergers appear to have been elsewhere—the merging firms reduced partner numbers substantially, increasing partner leverage so that individual remaining partners were better off. Data from interviews confirm these findings, and show that the culture of individual firms had a significant effect on determining which group of partners controlled the merged firm.     

Relationship equity and switching behavior in the adoption of new telecommunication services

This paper first defines and then presents a model of “relationship equity” for business markets. It points out that the potential benefits of managing relationship equity have been largely ignored and that a general model and stream of relevant research questions could be useful to marketing and relationship practitioners. The model developed considers the special case of key account management as antecedent, two different types of moderator variables, relationship equity as a perception by the buyer, and switching behavior via adoption of new telecommunication services as a result of this perception. The model is used as a basis for developing a number of working propositions.     

National culture and R&D and marketing integration mechanisms in new product development: A cross-cultural study between Singapore and New Zealand

The integration of R&D and marketing in new product development (NPD) is an important contributor to NPD performance. Of the mechanisms developed to aid functional integration, many have been developed in western cultural environments and may not have applicability in other national cultural settings. Using a sample of NPD workgroup personnel in New Zealand (NZ), the western cultural environment, and Singapore, quantitative and qualitative data have been used to measure national culture and determine the applicability of different organization integration mechanisms. Results show key differences between the two samples, indicating a link between formalization, centralization, role flexibility and interfunctional climate mechanisms with the Hofstede dimensions of Power Distance, Masculinity and Uncertainty Avoidance of national culture. Managerial implications are that national cultural values and settings of the respondents are important when determining best integration mechanisms.