终身证券市场禁入的正当性难题及其化解

我国证券监管所采用的终身证券市场禁入，剥夺了行为人参与证券市场的资格或机会，需要接受“正当性”的拷问。基于公共利益理论、利益平衡分析等论证证券市场禁入的正当性，未深入到行为人自身内部寻找正当性根据，均存在一定的局限性。证券市场禁入的正当性基础，应当回归到行为人自身，注重行为人自身“适合”参与证券市场的可期待性。终身证券市场禁入具有鲜明的“惩罚性”，面临着责任追究无边界等正当性难题。化解这一难题的路径是去除证券市场禁入的“惩罚性”，允许被禁入对象“救赎”自己，建立终身证券市场禁入的适时退出程序，明确终身证券市场禁入的退出标准，动态跟踪监测被禁入对象个体情况，适时赋予其参与证券市场的“第二次机会”。     

计量体系的建设与应用

计量体系包括标准的建设及以技术为手段的计量管理。标准是衡量质量高低的基本依据,各项标准的实施,又要以相应的计量检测和科学的计量管理为技术手段和管理基础。企业计量体系运行的成功与否,直接关系到产品质量结果的控制。经过陕西省质量技术监督初审和2次复查考核,2008年1月份,建标申请经考核合格后获得了授权,并于2月份,压力类强检仪表也获得了对内强检资质。长庆油田分公司第二采气厂计量体系的建设与运行步入正规化、运行基本实现了专业化。     

Renewable energy and low-carbon policy spillover effects on natural gas demand

Recent legislation intended to increase the use of renewable energy sources and lower the amount of carbon dioxide emissions from energy has changed the structure of energy markets. The effect of these policies on carbon-intensive fuel sources is rather obvious. For natural gas, though, the effect is not immediately clear. This letter uses a structural model of natural gas demand to uncover whether these policies have led to increased demand because natural gas is a relatively clean source of energy that couples well with renewables or if these policies have crowded out natural gas on net.     

Ethical leadership and its impact on service innovative behavior: The role of LMX and job autonomy

This study examined the effect of ethical leadership on service innovative behavior of employees at small and medium sized tourist hotels in Uttarakhand, India. It has forwarded an integrated model that highlights the relationship between ethical leadership and employees' service innovative behavior while interacting through leader-member exchange and job autonomy. Using a sample of 468 customer contact employees and their 117 supervisors, hierarchical regression was conducted to establish the relationship. Findings of the study revealed that ethical leadership promoted service innovative behavior of the hotel employees mediated through leader-member exchanges. Further, it was also found that the level of service innovative behavior was commensurate to the perception of employee job autonomy. Based on the study findings, implications for theory and practice are discussed.     

International Public Sector Accounting Standards （IPSAS） Implementation in the European Union （EU） Member States

The aim of this paper is to analyze the implementation level of International Public Sector Accounting Standards （IPSAS） in the member states of the European Union （EU）. After an introduction of the legislative framework in the EU and a review of the literature about the implementation of IPSAS in the EU member states, this paper classifies, on the basis of a survey, the states according to their formal implementation levels of IPSAS. It also analyzes the types of accounting （cash basis accounting, modified cash basis accotmting, accrual accounting, and modified accrual basis accounting） used by the states studied. The survey shows that there are important disparities among the member states, both for the application of IPSAS and for the type of accounting that is used. Furthermore, it appears that even if IPSAS is not legally adopted in most European member states, there is a tendency to use modern accounting systems based on accrual accounting close to IPSAS.     

FDI and inequality in Vietnam: An approach with census data

We investigate the effects of inward FDI on income distribution and absolute living standards in Vietnam using census data from 1989 to 2009. We compute the number of employees of foreign establishments in each of Vietnam's provinces for each year, and use that as a measure of local FDI. We estimate the effects of FDI on local households’ living standards as reported in the data, broken down by educational background to allow us to analyze effects on inequality. Estimates based on the repeated cross section indicate that rising FDI in a province is associated with a slight decline in living standards for households there if they do not have a member employed by the foreign enterprises, with only modest gains for households who do have a member employed by the foreign enterprises. These estimates may reflect composition effects, however, since we find large movements of people toward the provinces receiving the FDI. The findings show that measuring the effect of FDI on household welfare is more difficult than measuring the effect of trade policy, and may pose a difficulty for the view of FDI as a general anti-poverty strategy.     

浅析我国会计国际化的现状和发展趋势

随着全球经济一体化的不断发展,各国在资本市场国际化的大环境下,在构建特色经济体制的形势下,开始不断探索和发展会计国际化的方向与进程。探讨我国经济环境下会计国际化的现状及日后发展趋势,有利于完善我国现有的会计制度和会计准则,加快我国经济的发展步伐。     

Exploring the design of conscious media

Our existing model of media, based upon a consumptive-materialist–atomistic orientation, falls short in seeking to promote mainstream awareness of systemic and integral thinking in society-at-large. This paper presents evolutionary guidance media, a new model for media arising from evolutionary perspectives including systems science, humanistic, transpersonal and integral studies designed to promote planetary consciousness and give rise to an ecological–spiritual–integral mindset. Two key elements of evolutionary guidance media are discussed: a databank containing purposeful data from nine or more dimensions of human activity, and transception, the infusion of cyberception with qualities arising from mutual causality. Specific types of transception are introduced including Gaiaception, Agoraception, and Dharmaception. Organizations and companies already in the process of creating green media, socially responsible media, and spiritual, or transformational media are vanguards of the development of conscious media.     

Disclosure and the cost of equity in international cross-listing

In this paper, we examine the relationship between disclosure level and the cost of equity capital for a sample of international firms cross-listing on the New York Stock Exchange. Increased disclosure has the potential to reduce information asymmetry, reduce the cost of financing and increase analyst following. Using an international asset pricing model, we find that listing firms experience a decrease in both disclosure risk and systematic risk while matching firms do not. Further, we find that the magnitude of the decrease is related to three types of disclosure: accounting standards; analyst following; and exchange/regulatory investor protection. Our results suggest that increased disclosure through accounting standards is beneficial to investors and that disclosure can be accomplished through information intermediaries, e.g., analyst following. For firms with the lowest levels of disclosure prior to cross-listing, all three types of disclosure appear to be valuable.

Firm behaviour under pollution ratio standards with non-compliance

This paper compares a firm’s short run optimal production and abatement rules under emission level standards and standards expressed in terms of emissions per unit of output (ratio standards). The models allow for non-compliance with standards, with expected penalties dependant on either level or relative violations of the standard in question. It is shown that ratio arguments make a difference to the optimal decision rules derived for a profit-maximising firm. For example, for a given level of emissions the firm both produces more, and abates more, under a ratio standard, so that ratio and level standards cannot be used interchangeably to achieve the same combination of emissions and output. The implications for the efficiency of pollution control are briefly discussed.