No value in par: a history of the no par value debate in the United Kingdom

Proposals for shares of no par value have been considered several times this century, and there have been recommendations by government committees and unfulfilled government commitments to introduce them. This paper traces the history of the debate in the United Kingdom, from attempts by guarantee companies last century to issue shares without any value attached, up to a 1973 White Paper. It shows that failure to introduce no par value shares can be explained variously by ignorance, misunderstanding and political cowardice and highlights the way in which the issue became a significant factor in industrial relations during the 1950s.     

一部规范土地市场的重要规章——关于<招标拍卖挂牌出让国有土地使用权规定>的几点说明

2002年5月9日，国土资源部田凤山部长签署部第11号令，自2002年7月1日起施行《招标拍卖挂牌出让国有土地使用权规定》，本文就《规定》的重要意义及其主要内容，作了几点重要的说明。     

浅析王建民的《第二二胡狂想曲》及对教学的影响

王建民是近年来在我国民族器乐尤其是在二胡曲创作方面卓有成绩的一位现代作曲家,他的"中西并存、雅俗并用"的创作理念为我们创作了四首优秀的二胡狂想曲,本文将从曲式结构、风格特点、技术技巧等方面阐述其《第二二胡狂想曲》的艺术特色及对教学的影响。     

论新世纪的“一号文件”与农民增收

为促进农民增收,党中央和国务院在新世纪连续七年出台＂一号文件＂聚焦＂三农＂。＂一号文件＂以其导向的鲜明性和权威性,产生了良好的政策效应,为农民增收创造了有利条件。然而,农民增收的艰难性要求＂一号文件＂寻求制度突破,实现财税制度、农产品价格制度、户籍制度和土地产权制度的创新。     

非国有林权转让

林木的所有权及森林、林木、林地的使用权可以转让。厘清非国有林权的静态支配关系是非国有林权转让的前提。林权的转让应实行自愿平等、兼顾效率和公平的原则以及有利于林业可持续发展的原则。林权的变动应实行登记生效主义，但是，是否登记不影响林权转让合同的效力。登记机构对林权的变动应进行实质审查，但是，对符合法定条件的林权转让，没有自由裁量权。     

无赔款优待模型在住院医疗保险定价中的运用

非寿险精算中的无赔款优待模型（NCD）主要应用于机动车辆保险，本文试着将其应用于住院医疗保险中，结果认为，NCD对住院医疗保险保费的制定有一定的指导作用。     

基于软交换的容错7号信令协议栈的设计与实现

在近几年涌现的各种通信新技术中,以软交换技术为核心的下一代网络技术无疑是众多新技术创新的亮点之一。在软交换系统架构中,信令网关是实现PSTN和IP网络信令互通的核心关键设备。提出了一种应用于软交换系统中信令网关的容错7号信令协议栈的设计与实现方法,应用该协议栈构建的高可用的信令网关,适应了软交换系统下电信级信令网关的高可用性设计要求。     

Cognitive Dissonance as an Explanation of Goodwill Write-Offs

While agency theory has been an important part of accounting academic research, many researchers have suggested that other theories should also be considered. One such theory is the theory of cognitive dissonance. In this study, the authors develop competing hypotheses based on agency theory and the theory of cognitive dissonance regarding the decision to record an impairment of goodwill. Using an archival research methodology, they test the hypotheses on a sample of 2,274 firm-year observations. The results are consistent with the theory of cognitive dissonance even after controlling for variables that have been found to be significant under agency theory. The authors conclude that there is strong evidence to suggest that agency theory does not uniquely explain the results of management decisions as seen through financial reporting data.     

SEC FRR No. 48 and analyst forecast accuracy

SEC FRR No. 48 requires that all firms report their market risk exposures by choosing among three alternative formats: sensitivity analysis, tabular and value at risk (VaR). In this article, we examine how different methods affect analyst forecast accuracy. By regressing analyst forecast errors on a company’s choice of disclosure method, we find that analyst forecast errors are smaller for firms using VaR and tabular than for firms using sensitivity analysis. Our findings suggest that VaR and tabular approaches are more informative than sensitivity analysis.     

SCS模型在无资料地区径流模拟估算中的应用*——以清河流域为例

［目的］无资料地区的水文模拟,一直是摆在水文工作者中的一大难题。文章尝试利用由美国农业部水土保持局开发的SCS（Soil Conservation Service）模型对资料稀缺的西安市清河流域开展径流模拟估算。［方法］该模型结构简单,参数较少,极大地降低了对研究区基础地理数据与水文数据的依赖程度。由于缺乏实测历年径流总量数据,该文提出径流系数区间法来验证SCS模型模拟效果。以径流系数取值区间的平均值计算出的年际平均径流总量作为验证的参考值。［结果］（1）清河流域历年的年径流总量与年降雨总量有很好的对应关系,在不考虑地下水损耗的情况下,年降雨量越大,地表径流也越大,其中2003年径流总量最大,达到1 400万m3,最小为1997年的300万m3。（2）为弥补研究区资料稀缺问题,用径流系数区间法对模拟结果进行验证,验证结果为确定性系数09,纳什系数06,结果表明,基于SCS模型模拟估算清河流域年际径流总量取得了令人满意的效果。［结论］SCS模型在清河流域的成功应用表明,该模型可以在无资料地区或资料稀缺地区开展径流模拟,由于其建模简洁,极大地降低了在类似无资料区域开展水文模拟的难度,为此类地区开展水文研究提供了新的途径。研究结果可为当地水资源管理提供一定依据。