东道国ESP系统与东道国外商直接投资特征研究--以中国为例

国际直接投资地域结构的时空差异性对忽视东道国因素的传统国际投资理论提出了挑战。文章研究了东道国因素对国际生产资本地域运动的影响，提出了国际直接投资是东道国因素与投资主体三优势综合作用的结果，东道国环境、体制、政策系统的状态特征决定了东道国外资特征等观点，并实证研究了中国改革开放进程与外商对华投资规模和结构的内在互动性。     

解读2005年中国国际收支平衡表

国际收支平衡表不仅综合记载了一国在一定时期内与世界各国的经济往来的情况和在世界经济中的地位及其消长对比情况,而且还集中反映了该国的经济类型和经济结构。2005年,中国的国际收支巨额顺差,具有鲜明特色.透过国际收支平衡表,可以发现中国国际收支的结构特征、问题所在,进而提出改进措施和政策建议。     

论中国特色社会主义经济学的核心范畴

确立中国特色社会主义经济学的逻辑起点，必须突出它的特殊性，而不能照搬以往的经济学。迄今，所有的经济学由于其任务和宗旨不同大体可分四种类型、四个逻辑起点。中国特色社会主义经济学根据它的任务和宗旨，需要在科学社会主义实践逻辑的基础上，进行科学抽象，分析其矛盾特殊性的三个表现及中国的个性，揭示以社会主义本质为核。范畴和逻辑起点的理论规定性，进而全面展开，创立新的架构。     

金融工具会计准则交易税制设计的思考

为了规范金融工具的确认和计量,反映金融工具对金融机构财务状况和经营成果所带来的真实影响,揭示其潜在风险,提高金融机构的会计信息的质量,新颁布的金融工具会计准则采用公允价值计量,并将损益纳入当期损益。本文分析了此举对我国税制所产生的影响,并对金融工具交易的税制设计提出了设想。     

试论“治道”与中国管理哲学

本文针对牟宗三先生所提出的“政道”与“治道”说,考察了中国传统思想史中“治道”概念的内涵,认为所谓“治道”,其广义的指涉范围包括了中国古代学者们针对如何治理国家的问题所提出的理论、学说、思想等构成的以“治国平天下”为宗旨的知识体系。从管理哲学的角度,研究中国传统治道思想,也是可能的。     

Utilizing Printed Media to Understand Desired Leadership Attributes in the People's Republic of China

Using news media as a reliable source, we content analyzed stories on business leaders in two major official Chinese newspapers in three different time periods over the past 20 years. Results show that the reform has brought an increase in stories of business leaders, and in coverage of the desirable leadership attributes relating to Confucian virtues, communist ideologies, and modern management philophies. The results suggest that, by publicizing and adorning specific leaders in both government and business sectors in the official media, the government reinforces the traditional values that are consistent with communist ideologies, and at the same time, it also introduces Western management values to suit the current needs of the society. The results of our study echo the findings of empirical studies on Chinese values that used data collected using other methods. We therefore encourage future research to use the printed media as a potentially valuable source of data for tracking changes in social phenomena in a society over time.     

中资银行迎接外资银行全面竞争的策略研究

随着中国银行业市场不断扩大对外资银行的开放程度,在华外资银行已在市场份额、客户营销、业务经营及人才吸引等方面对中资银行的经营形成挑战。中资银行只有加快改革进程,进一步提升自身的竞争力,才能在2006年底中国银行业全面开放后从容应对外资银行的激烈竞争。本文结合当前中国银行业的改制过程,提出了中资银行的应对策略,即通过与外资银行的业务及股权合作来弥补自身不足,通过调整经营结构实现经营战略的转型,通过完善公司治理培育自身的核心竞争力,通过解决经营中的实际问题提高市场应变力,通过落实“以人为本”的理念切实提升人力资源价值。     

中国饲料工业期货的价格发现实证研究

本文借助向量自回归模型、协整检验、误差修正模型、方差分解、脉冲响应函数等方法,以中国唯一的饲料工业期货———大连商品交易所豆粕期货品种为例,研究了期货价格与现货价格之间的动态关系,定量刻画了期货市场在价格发现中的作用。研究结果显示:豆粕期货价格与现货价格存在相互引导关系,并且期货与现货价格之间存在长期均衡关系,对豆粕期货来说,期货市场在价格发现功能中起到主导作用。     

Announcement effects of bank mergers in Europe and the US

We investigate the announcement effect of large bank mergers in the European and US stock market. Cumulative abnormal returns are calculated on the basis of the performance vis-à-vis the market and a sector index. Mergers result in small positive abnormal returns. Target banks realize significantly higher returns than bidders. In many respects, there is a difference between the announcement effects of European bank mergers compared to those in the US.     

The Wealth Effects of Fairness Opinions in Takeovers

This paper explores the wealth effects associated with a bidder's decision to solicit a fairness opinion in a takeover transaction. Using a hand‐collected sample with bidders’ filing proxy statements, this paper finds that the use of fairness opinions does not negatively affect bidder shareholders’ wealth, a finding that contradicts prior studies’ findings. In addition, I find a positive wealth effect associated with bidder use of fairness opinions in the post‐Rule 2290 period. Collectively, these results are consistent with a fairness opinion being used by bidder management as a means to facilitate transactions rather than a mechanism to entrench management.