Reviewing IFRS Goodwill Accounting Research: Implementation Effects and Cross-Country Differences

We review 42 studies from 2008 to early 2017 about IFRS goodwill accounting choices for recognition, impairment, and disclosure of goodwill, focusing on cross-country evidence of implementation effects. We develop a model of application of goodwill accounting based on IFRS 3, IAS 36, and country- and firm-level influences to analyze the research and to summarize existing evidence about goodwill accounting choices. We report evidence in support of IFRS accounting for goodwill recognition, impairment, and disclosure from many countries. However, evidence regarding value relevance is mixed. Overall, there is a lack of cross-country evidence regarding factors affecting goodwill accounting. Many studies show goodwill recognition, impairment, and disclosure are associated with economic and firm factors, and there is some evidence about the impact of managerial incentives and a lack of timeliness in impairment recognition. There is scope for more cross-country studies showing how institutional factors affect the application of IFRS 3 and IAS 36.     

Market Sentiment and Investor Overreaction: Evidence from New York Listed Asian Country Exchange Traded Funds

This article investigates Asian Country Exchange-Traded Fund (ETF) price deviation with underlying due to market sentiment. By implementing a dynamic contrarian trading strategy and a buy-and-hold strategy, this article finds that significant abnormal excess trading profit can be generated by capitalizing on the overnight price reversion. The excess return generated by the dynamic strategy over buy-and-hold separates the influence of market sentiment to ETF price deviation from fundamental movements. By studying the relations between variations of the excess returns and market sentiment, the article finds that the ETF price deviation is highly influenced by market sentiment and the effect exacerbates during financial crisis and distress.     

邓小平人才思想与中国现代化

邓小平人才思想是建设有中国特色社会主义理论的重要组成部分,是加快我国政治与经济体制改革、实现四个现代化的重要推动力.我国当前实施的人才强国战略是邓小平人才思想的新发展,是对中国人才发展战略的创新.积极倡导邓小平人才思想并使之与中国现代条件相结合,能有力地促进中国现代化的新发展.     

Managing country-of-origin choices: competitive advantages and opportunities

This study investigates the effects of country-of-design/country-of-assembly combinations on consumers' evaluative beliefs about and attitudes toward buying automobiles. The effects are compared across groups of consumers differing with respect to levels of consumer ethnocentrism. Two design countries and two assembly countries (Japan or US) were considered, yielding four possible design-country/assembly-country combinations. The results suggest that manufacturing products in the country in which they are sold not only provides closer access to the market, but also allows multinational manufacturers to ‘blur the boundaries’ regarding a potentially sensitive country-of-origin issue among highly ethnocentric consumers. At the same time, they can leverage their country-brand images to appeal to those customers who recognize a particular country's ability to design high quality cars, regardless of their country of assembly.     

发达国家与发展中国家贸易条件比较与实证分析

近二十多年来,各国经济都发生了翻天覆地的变化,贸易条件也随之不断改善。本文根据1981年至2003年的统计数据建立计量回归模型,分析了发达国家和发展中国家贸易条件变化情况,并加以比较,最终得出结论。     

乡村旅游促进社会主义新农村建设对策研究

近年来,云南省乡村旅游蓬勃发展。大力发展乡村旅游,是云南省建设旅游支柱产业的需要,也是社会主义新农村建设的重要途径之一,发展乡村旅游不仅可充分、合理地利用云南省各类乡村资源,促进农民创收、增收,改善乡村自然环境和人文环境,也能实现以城带乡,共同发展。但云南省的乡村旅游也存在缺乏总体规划和法律保障,行业管理、村级管理薄弱,利益分配不公、服务水平低、缺乏乡村特色等问题,结合社会主义新农村建设的五个方面的工作任务,应实施乡村旅游的专项规划,并予以政策性扶持,建立健全利益分配机制,实施培训、引导、示范三大工程,实施乡村旅游生态保护系列项目,由各级政府推动和实现乡村旅游的科学管理、民主管理。     

新时代中国的源技术再选择与重化工业布局——基于大国崛起的视角

迄今为止的世界经济是中小型国家经济起飞和发展的时代。中国经济的崛起标志着世界经济进入了新的时代——大国经济崛起的时代,这必将对经济学、经济发展模式、世界经济格局、国际经济秩序等领域带来一系列的深刻变革。不难预料,自然资源条件的约束,将是对我国经济社会发展发生基本的、长期的和经常性作用的因素。必须从需求和供给的诸多方面思考和设计中国的资源战略,但我们认为,其中最重要的是“源技术再选择”和“重化工业再布局”,而且这两者之间是相辅相成的。新的源技术必须符合两个条件：一是推动产业技术体系彻底变革,二是解决人类发展不可持续的问题。另一个思路是把重化工业尽可能布局在沿海,并作大作强,是中国解决资源短缺进而走向经济大国所不可回避的选择。这一点,应该向日本学习。     

What Drives Price Differentials of Consumables in Europe? Size? Affluence? Or Both?

Prices of many consumables differ substantially across the European Union (EU) due to natural segmentation and to the survival of residual man-made barriers. However, we do not know much about the direction and the cause of deviations among countries differing mainly in size and income of their citizens. Here, we wish to fill this gap. We go through some simple theoretical analysis and show that, in the presence of mild barriers to trade, as those persisting among EU countries, prices should be lower in large countries. On the contrary, prices will be higher where people enjoy better standards of living which translate into higher marginal willingness to pay by consumers. We perform a parallel empirical investigation to assess the relative weight of the two main forces driving prices apart across countries and we test our theoretical proposition through a simple econometric analysis of prices of consumables across the EU. Country size and affluence explain price differentials in a convincing manner. However, the relative importance of the two variables changes as we consider the EU after the establishment of the Single Market or when we analyse a subsample of fast growing EU members.

中韩农村财政补贴政策比较研究

农村的发展离不开政策的支持.韩国的新村运动正是在政府财政资金的大力支持下取得成功的,其独具特色、成效显著的农村财政补贴政策可资借鉴.我国正处于新农村建设初期,农民实力不济,发展动力不足.政府必须充分发挥主导作用,通过制定和执行合理的财政补贴政策,增加农民收入,提高农民生产积极性,以此促进新农村建设进程,实现农村的全面发展.     

Environmental Risk and Foreign Equity Ownership in Joint Ventures in China

ABSTRACT

Environmental risk in a host country is a key issue that foreign firms must deal with when deciding how much equity ownership to acquire and how much control to have in an equity joint venture (EJV) in that country. This study examines the relationship between changes in the risk situations in China and the level of foreign equity ownership in the EJV. It hypothesizes that Japanese partners would be more likely than U.S. or Hong Kong partners to acquire a 50% or higher level of equity ownership. This tendency would become more pronounced when the risk conditions in China deteriorate. The empirical results, based on 3,838 EJVs in China that had foreign partners from U.S., Japan, Hong Kong and Europe during the 1979–1992 period, are largely consistent with the hypotheses.