股市公共性:股权分置改革的理论根据

本文对股权分置改革中的几个主要理论进行了分析，认为“流通股含权”说、“合同”说等是不能成立的；从政府政策的公共利益出发，提出了股市公共性学说。强调这一学说是支持股权分置改革的理论依据，据此分析了股权分置改革中的一系列政策举措。     

Study on Corporate Governance Structure of Public Enterprise from the Angle of Railway Renewal and Overhaul Rights

Governance mode, in which governance structure and relationships among transaction parties as well as the concerning economic performance of property rights allocation are determined, is always the initial and overall incentive institutional arrangement. Railway transportation facility renewal and overhaul rights take on dualistic characteristics of both public goods and enterprise goods. For those renewal and overhaul rights obviously belonging to public domain with prominent commonweal features, organization mode of public enterprise can take advantages of government and market govemance, save transaction cost, improve production efficiency, simultaneously fulfill society and enterprise objectives. Viewed from the angle of renewal and overhaul rights, even though we cannot eliminate, we can reduce the public domain in Chinese railway system by means of organization boundary adjustment, establishment of railway transportation enterprises providing complete transportation product for the transportation market. The paper strongly maintains that it is imperative to arrange railway renewal and overhaul rights within public domain through special governance structure on the basis of special lawmaking institutional supply.     

服务型政府建设中的问题探析

服务型政府建设不仅仅是政府的事，也是民众的事。在服务型政府的建设过程中，政府需要与人民互动；完善政府体系内的立法机关、行政机关、司法机关三者之间的关系和行为模式要同步进行改革，才能建设一个完整的服务型政府体制；政府机关的内部行政管理也必须从管制转向服务．服务型政府建设需要做到内外兼修；建设服务型政府也必须要解决对政府职能、规模、技术及投入与产出观念上和实践中出现的各种问题，最后也必须认识到建设服务型政府将是一个长期性的过程。     

Xenophobia and the Size of the Public Sector in France: A Politico-economic Analysis

Anti-immigrant feeling (xenophobia) among voters was a key factor in the second-place victory of Jean Le Pen's National Front Party in the 2002 French national election. Here, we study the effect of anti-immigrant sentiment on the equilibrium position of political parties on the economic issue, which we take to be the size of the public sector. We model political competition among three parties (Left, Right, and Extreme Right) on a two-dimensional policy space (public sector size, immigration issue) using the PUNE model. We calibrate the model to French data for the election years 1988 and 2002, and show that politics have changed significantly over this period, from being centered primarily on economic issues, to non-economic issues such as immigration and security/law-and-order. We estimate that in 2002, the effect of voter xenophobia was to reduce the voters' choice of public-sector size between 11% and 28% of one standard deviation of the population's distribution of public-sector size ideal points, from what it would have been, absent xenophobia.     

社会审计文化与审计质量关系的思考

社会审计文化是我国社会审计人员长期审计实践活动形成的经验、知识积累的系统总结.审计文化与审计质量关系的研究,对规范会计师事务所执业行为,提高会计师事务所执业质量,降低审计风险,促使会计师事务所更规范地从事审计业务,完善我国资本市场,恢复目前我国股民对上市公司审计披露信息的信心,具有指导意义.     

Business and Marketing Ethics as Professional Ethics. Concepts, Approaches and Typologies

Marketing ethics is normally marketed as a sub-specialization of business ethics. In this paper, marketing ethics serves as an umbrella term for advertising, PR and sales ethics and as an example of professional ethics. To structure the paper, four approaches are distinguished, with a focus on typical professional conflicts, codes, roles or climates respectively. Since the moral climate approachis more inclusive than the other approaches, the last part of the paper deals mainly with moral climates, within the above-mentioned marketing sub-professions.     

值得高度重视的公共安全国际标准化发展动向

本文指出近期ISO、IEC安全标准化的三大重要动向和欧、美、日等发达国家的对策,分析了安全国际标准对我国国际贸易和产业国际竞争将带来的影响,提出应对安全国际标准的对策建议。     

论公共行政体制建设

建立和完善与社会主义市场经济体制相适应、与民主政治建设相配套，既符合国际规则，又兼顾我国实际的公共行政体制，是党的十六大提出的要求，也是全国人民的共同心愿。     

Underpricing,Share Overhang,and Insider Selling in Follow‐on Offerings

Prospect and information‐momentum theories predict that insiders can offer fewer shares in an initial public offering (IPO) to create informational momentum and obtain higher prices in follow‐on offerings. I find that dilution and insider participation in the IPO are negatively related to the number and size of follow‐on offerings, consistent with the prediction. However, insider selling in follow‐on offerings is positively related to IPO selling, contrary to the theories. Returns around follow‐on offering announcements are more negative for newly public firms than older firms, but for newly public firms do not differ by whether the announcement comes before or after the lockup expiration date.     

Comment on “Revealing Differences in Willingness to Pay Due to the Dimensionality of Stated Choice Designs: An Initial Assessment”

There are very few studies that quantify the interactions and tradeoffs between statistical and cognitive efficiency in designing stated-choice studies. While a conceptual framework for evaluating cognitive strategies would be desirable, Hensher adopts a strictly empirical approach in this experiment. The success of the study must be evaluated in light of his aggregating attributes rather than controlling the number of attributes, asymmetry in the narrow-range and wide-range attributes, and lack of orthogonality between the number of attributes and number of alternatives. Nevertheless, Hensher challenges uncritical acceptance of any given set of design features and correctly insists that we confirm our experience with rigorous, quantitative experiments.