Analysts' Forecasts and the Broker Relationship

Analysts' ability to forecast earnings per share has been the subject of considerable debate. A concern highlighted in previous research is the agency problem which may arise when analysts have a close working relationship with the firms for which they are providing forecasts. This paper provides evidence that this relationship does not improve the accuracy of the earnings forecasts, but stimulates optimistic forecasts. In addition, the paper examines whether firm size is a factor in forecast accuracy or bias.     

Differential reporting in Germany - A historical analysis

Based on a contingent perspective of accounting change, this paper reviews the historical development of differential reporting in Germany, by drawing on primary and secondary sources. The main objective of the paper is to shed light on the driving forces and main influential parameters that have shaped the existing differential reporting framework. This historical approach supplies interesting insights for the current discussion on differential reporting in Germany produced by the EU Regulation on the application of International Accounting Standards.     

An axiomatic approach to \boldsymbol{\varepsilon}-contamination

Summary.  Suppose that an economic agent is 100% certain that uncertainty she faces is characterized by a particular probability measure, but that she has a fear that, with 100% chance, her conviction is completely wrong and she is left perfectly ignorant about the true measure in the present as well as in the future. This situation is often called -contamination of confidence. The purpose of this paper is to provide a simple set of behavioral axioms under which the decision-makers preference is represented by the Choquet expected utility with the -contamination of confidence.Received: 25 November 2002, Revised: 15 November 2004, JEL Classification Numbers:   D81. Correspondence to: Hiroyuki OzakiWe are grateful to an anonymous referee. The referees comments greatly improved the exposition of the paper. The work reported here is partially supported by a grant from the Economic and Social Research Insitute, the Cabinet Office, the Government of Japan.     

Tari–tax reforms and market access

Reducing taris and increasing consumption taxes is a standard IMF advice to countries that want to open up their economy without hurting government finances. Indeed, theoretical analysis of such a tari–tax reform shows an unambiguous increase in welfare and government revenues. The present paper examines whether the country that implements such a reform ends up opening up its markets to international trade, i.e. whether its market access improves. It is shown that this is not necessarily so. We also show that, comparing to the reform of only taris, the tari–tax reform is a less efficient proposal to follow both as far as it concerns market access and welfare.     

新冠疫情对我国中小企业经济状况的影响及对策分析

2020年以来,新冠疫情对我国中小企业的影响巨大。论文从收入、成本、现金流三个方面分析了疫情下我国中小企业的现状及可采取的对策,以期助力中小企业渡过难关。     

新农村建设背景下河北省小城镇发展战略研究——兼以保定市知名小城镇发展经验为例

小城镇的发展是实现社会主义新农村建设的一个重要方面,它在改变城乡二元社会结构,促进地方经济发展,带动城乡劳动力和人口转移等方面发挥着重要的作用。文章分析了在建设社会主义新农村的大背境下,河北省小城镇在数量、经济、基础设施等方面的特点及问题,并提出小城镇的未来发展战略。     

电子商务环境下中小企业供应链管理研究

随着电子商务的应用,企业供应链管理正在发生着变化。我国电子商务发展以及我国企业发展的独特情况,决定了我国电子商务环境下供应链管理的独有的特点。文章从国内外文献研究着手,阐述了我国电子商务发展和我国企业发展的特点,进而结合传统供应链管理模型提出了在电子商务环境下中小企业供应链管理的模型,并提出了在该模型下,供应链管理应将物流、信息流和资金流分开管理。最后,提出了在该模型下供应链管理的建议与策略。     

城市“夹心层”的住房问题及解决途径——以广州市为例

住房是人类生活稳定的第一要素,是人类最基本的需求之一,也是每个个体化生活方式的终极归宿形式之一,因此住房是关系国计民生的重大经济和社会问题。在政府推出各种住房保障政策后,产生了仍然存在住房困难但被政策忽略的群体——"夹心层"。本文将主要分析"夹心层"由来,探讨其收入范围,并提出解决途径,以改善居住环境、维持社会稳定、营造和谐氛围。