The Impact of Institutional Differences on Derivatives Usage: a Comparative Study of US and Dutch Firms

This paper examines the influence of institutional differences on corporate risk management practices in the USA and the Netherlands. We compare results to surveys in each country using a strategy that corrects for differences over industry and size classes across the Dutch and US samples. We document several differences in the firms’ uses and attitudes towards derivatives and attempt to attribute them to the differences in the institutional environments between the USA and the Netherlands. We find that institutional differences appear to have an important impact on risk management practices and derivatives use across US and Dutch firms.     

Derivative activities and the risk of international banks: A market index and VaR approach

The results of a comparison of international banks using a three-factor multi-index model and a modified value-at-risk (VaR) analysis indicate that the use of options increases the interest rate beta for all banks, while both interest rate and currency swaps generally reduce risk. The results are the strongest and the most consistent for U.S. dealer banks, followed by European banks, and then Japanese banks. Furthermore, the evidence suggests that the VaR approach to risk management can effectively be used by both domestic as well as international banks, although the results appear to be somewhat sensitive to the regulatory environment in which the bank operates.     

葛洲坝二江电厂监控系统升级改造的实施与探讨

葛洲坝二江电厂计算机监控系统投产于1995年,运行时间已久,无论从硬件还是软件方面已不能满足目前的生产要求。升级后的新系统在各个方面均有了很大程度的改进,它的应用使得葛洲坝二江电厂的自动化控制程度有了很大的提高,为厂站“无人值班(少人值守)”的现代化管理以及三峡—葛洲坝梯级电站的联合调度提供了有力的保障。     

事业单位固定资产管理必须加强

加强事业单位资产管理，管好用好国有资产，保证资产的安全、完整，对促进事业单位发展意义重大。为此，必须从建立资产管理机构、建立全面预算控制制度，完善基础管理工作等入手，强化事业单位固定资产管理。     

Sources, uses, and forms of data in the new product development process

This paper presents qualitative and exploratory research investigating the role that managing knowledge and information plays in new product development (NPD). A set of 20 in-depth interviews uncovered eight basic types of information used throughout the NPD process and three general approaches to managing information needed in the NPD process. Although some exemplary companies seem to do an outstanding job of collecting and disseminating information, the majority of firms struggle. NPD process automation solutions tackle part of the problem, ignoring nonquantitative data forms and the full picture of information use throughout the entire development process.     

经济增加值(EVA)在经营决策评估中的应用

EVA是从股东财富最大化出发来衡量公司业绩的指标,国外许多大公司的成功实践证明了它的价值。本文从公司的经营决策评估角度探讨其应用性,试图为提高中小企业的科学决策水平提供一些帮助。     

基于Intranet/Internet的大坝安全监测信息查询系统

大坝安全监测信息的网上发布可以让人们了解各种实时、动态信息，文 中主要介绍了在Intranet/Internet下采用ASP(active server pages)结合VBScript，JavaS cript及ActiveX技术进行大坝安全监测信息查询系统开发的方法及步骤，并结合实际系统的 开发加以说明。     

广州蓄能水电厂运行与管理的现代化

介绍了广州蓄能水电厂的基本情况，其借鉴国外电站管理的先进经验，从设备在线监控 到运行、检修、生产管 理和办公均全面应用以计算机为核心的自动化系统及计算机网络技术，为提高机组安全可靠 运行、电站的管理水平和减人增效方面发挥了很好作用。文中着重介绍广州蓄能水电厂的运 行管理方式及值班规则、生产管理和设备管理方法、办公自动化经验以及相关的规章制度。     

工程建设的新特点与中国三峡总公司的可持续发展

本文介绍了三峡工程进入2002年后工程建设的新特点,并对工程下一步两个重点项目三期截流和碾压混凝土围堰的技术难点和工期安排做了深入分析。另外,作者根据国家电力体制改革的重要内容,以及中国三峡总公司自身情况,对公司未来的可持续发展之路亦做了深入探讨。借助中国三峡总公司的品牌优势和资本实力,吸收其它形式的能源,优化能源结构;进一步降低工程造价,提高三峡电价在电力市场的竞争力;依靠科学管理,实现电力生产利润最大化,深化内部改革等措施,促进中国三峡总公司可持续发展。     

Smart work and hard work: explicating a learning orientation in strategic management accounting

This paper examines the skills and aptitudes necessary to undertake a strategic management accounting project. It argues that individuals involved in such projects are required to work both smart and hard. This argument is developed theoretically by reference to the work of educational psychologists who have identified two different types of goal orientation which people pursue in achievement situations: the learning orientation and the performance orientation. Evidence that strategic management accounting requires a learning orientation is provided by means of a case study which describes its use in a competitive tendering situation. This is followed by a discussion of the potentially symbiotic relationship of strategic management accounting and organizational learning. The discussion leads to the specification of a research agenda that may have significant implications for the practice and learning of management accounting.