商业品牌竞争——零售业发展的大趋势

论文论述了商业品牌内涵及其价值,认为商业品牌竞争是商业发展的大趋势,应用先进理念加强零售业品牌建设,转变增长方式和提高核心竞争力,实施商业品牌竞争战略。     

《非货币性资产交换》准则变化及其问题探讨

非货币性资产交换准则是为适应证券市场的发展和企业经营方式的变化由财政部制定的，换入资产入账价值的计价引进了商业实质和公允价值理论，在损益的确认方面与国际惯例一致，更趋合理，但也存在判断的困难。     

从竞争战略到价值革新战略的转变

目前企业战略管理基本都是以竞争为中心，这种基于竞争的战略是一种“零和”战略。企业采用竞争战略是受古典经济学的影响和由传统生产要素的稀缺性所决定的。随着IT技术的进一步发展和知识经济的到来，知识已经取代传统的资金、设备等成为主要的生产要素．知识的非稀缺性使得基于竞争的战略再没有生存的空间。本文讨论了一种新的战略即基于价值革新的战略，并对这两种战略的形成机制进行了分析和比较，最后重点讨论了价值革新战略的管理和运作．认为企业必须转向价值革新的战略。     

煤发热量含义及其相互关系

指出煤的发热量是一项重要指标。重点介绍不同燃烧状态，不同基准的发热量的含义及其相互关系。     

Cost control based on value chain paying equal attention to earning more income and cutting down expense

According to the idea of cost control based on the value chain, several important factors are necessary. Firstly, it is necessary to have enough resources, which must be invested to create advantageous value chain based on customer value. It is also necessary to be sure of the cost advantage of the value chain. Secondly, the consumption of resources must be reduced as much as possible to enable the smallest operating cost for the value chain and make sure of the cost advantage based on maximum business value or profit. It is a kind of cost control from the whole view of creation and supply of value. In practice, it is also a kind of cost control system based on the value chain. It includes enough control and necessary resource investment from the view of the value creation, and keeps consumption of resources to a reasonable level from the view of the value supply. The main object of the first factor is to construct the advantageous value chain from creating customer value; and the second factor is to strengthen the advantageous value chain from supplying or producing customer value. Therefore it is a new kind of idea to explore this cost control from the whole view of creation and supply of value. It is more profitable for businesses to gain sustainable competitive advantage.     

中国上市公司最优资本结构统计分析

文章分析了最优资本结构的几种衡量标准，认为市场价值是衡量最优资本结构的最佳标准。以2000-2005年中国上市公司为样本，对最优资本结构的年度差异和行业差异进行了统计检验，给出了分年度、分行业的最优资本结构，并封统计结果进行了讨论。     

What determines early exercise of employee stock options in Australia?

Employee stock options (ESOs) are a popular way of remunerating employees. We analyse factors at the firm and option level affecting the employee's decision to exercise ESOs before they mature. Exercises over the period 1998–2004 are analysed and the key factor influencing early exercise is found to be dividends. Exercises frequently occur well before maturity, but in most cases little time value is sacrificed. Our findings have implications for the ‘fair’ valuation of ESOs in companies’ financial statements, as required by the relevant Australian accounting standard, AASB 2.     

VALUING NON-MARKET GOODS USING CONTINGENT VALUATION

Abstract. Contingent valuation is a technique being developed by economists for the valuation of environmental commodities not traded in markets. This paper discusses the major problem areas associated with this method of value estimation. These comprise bias (strategic, hypothetical and design biases); the discrepancy between willingness-to-pay and compensation demanded; the aggregation procedure; the choice of question format; and non-use values. Some evidence from comparative studies is reported, and comments made on the accuracy of contingent valuation answers, Finally, the conditions under which contingent valuation seems to operate best are set out.     

上市公司财务管理目标的选择

“股东财富最大化”与“企业价值最大化”分别作为上市公司的财务管理目标,一直深受关注。文章从上市公司的治理结构入手,重点分析我国的国情特别是上市公司的现状,得出股改后的中国选择“企业价值最大化”作为财务管理目标是必然的。     

中小企业人力资本价值探析

近年来,我国中小企业得到迅速发展,在发展经济、提供就业等方面都做出了积极的贡献。而中小企业中人力资本究竟价值几何越来越受到理论界和企业关注。本文从无形资产的角度考虑人力资本的价值,希望能起到抛砖引玉的作用,让中小企业和学者可以从更多的角度评估人力资本的价值。