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1.
ABSTRACT This study examines the four commonly tested hypotheses in hydroelectricity consumption – economic growth literature for 12 Asian countries. Our results from a recently developed hidden cointegration technique uncover rich and significant relationships between negative and positive components of the variables under consideration. In particular, we find evidence to support the neutrality hypothesis in five countries (Bangladesh, Indonesia, Pakistan, Philippines, and Thailand), the growth hypothesis in four countries (India, Japan, South Korea and Taiwan), and both growth and conservation hypotheses in three countries (China, Malaysia, and New Zealand). These findings suggest that appropriate economic policies should be elaborated on the basis of the country’s specific hydroelectricity consumption–growth nexus. Finally, our new evidence suggests that the lack of stable relationship between hydroelectricity consumption and economic growth documented in previous studies for some of these countries could be due to the failure to properly account for the nonlinearity property in the data. 相似文献
2.
We examine and compare a large number of generalized autoregressive conditional heteroskedastic (GARCH) and stochastic volatility (SV) models using series of Bitcoin and Litecoin price returns to assess the model fit for dynamics of these cryptocurrency price returns series. The various models examined include the standard GARCH(1,1) and SV with an AR(1) log-volatility process, as well as more flexible models with jumps, volatility in mean, leverage effects, t-distributed and moving average innovations. We report that the best model for Bitcoin is SV-t while it is GARCH-t for Litecoin. Overall, the t-class of models performs better than other classes for both cryptocurrencies. For Bitcoin, the SV models consistently outperform the GARCH models and the same holds true for Litecoin in most cases. Finally, the comparison of GARCH models with GARCH-GJR models reveals that the leverage effect is not significant for cryptocurrencies, suggesting that these do not behave like stock prices. 相似文献
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Using data for 18 major tourist originating countries to India from 2001 to 2015, this study examines the major determinants of international tourist arrivals in India. The results indicate that past experiences of the tourists, per capita income in the tourist originating country, relative costs of living between India and the country of origin, and the level of infrastructure development in India are key determinants of international tourist arrivals in India. Furthermore, both transportation and communication infrastructure are important in attracting tourists to India. In particular, evidence suggests that availability of road and air network and telephone connections has favourable impacts on international tourist arrivals in India. These results are robust to the inclusion of additional variables. These results have important policy implications. 相似文献
5.
G. Baikunth Nath 《Scandinavian actuarial journal》2013,2013(4):205-210
Abstract The distribution of any linear combination of a finite number of truncated exponential variates from possibly n distinct populations is obtained by using the Laplace transform. The distribution is demonstrated in a compact form which is quite suitable for computational purposes. The results are exemplified. Finally, a brief remark on the distribution of the product of truncated exponential variates is also added. 相似文献
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Janek Ratnatunga Michael S.C. Tse Kashi R. Balachandran 《The International Journal of Accounting》2012,47(3):281-301
Despite its theoretical superiority, the activity-based costing (ABC) model has had only moderate success in replacing the traditional volume-based absorption costing models in complex organizations worldwide. Even in organizations that have launched ABC projects, the implementations often do not sustain. In response to this general lack of enthusiasm worldwide for ABC, accountants developed the time-driven activity-based costing (TDABC) model as an alternative cost allocation model. This paper presents a comparison of the TDABC model with ABC, and considers if this alternative cost allocation model (1) is easier to implement from an international perspective and (2) provides comparable cost information for decision making. We use a case study in a country outside the model's country of origin to understand the similarities and differences in absorption costing systems that use ‘volume,’ ‘activities,’ and ‘time’ as the drivers of indirect cost allocations. We also use the case study to ascertain if any country‐specific factors impede ABC implementation. We conclude the following: the TDABC model has similar implementation complexities to ABC if modelling conditions are strictly adhered to; these complexities are independent of country‐specific factors; and in its simplest form, the model generates the same decision information errors of traditional costing. 相似文献
8.
Sungsoo Yeom Kashi R. Balachandran Joshua Ronen 《Review of Quantitative Finance and Accounting》1993,3(2):149-169
This paper studies the economic incentives of participative budgeting through the design of incentive schemes within the agency
theory framework. In particular, a piecewise linear incentive scheme (PLIS), an optimal version of Weitzman's New Soviet Incentive
Scheme (NSIS), is derived.
The characteristics of PLIS are: first, unlike NSIS, the bonus (penalty) rates of the optimal PLIS vary according to the agent's
type in order to improve the principal's welfare, second, a penalty may be imposed on the overfulfillment of the agent's performance
in order to maintain incentive compatibility, and finally, it is shown that if the coefficients are constant as in NSIS, there
is no need for participative budgeting.
Also, PLIS is compared with a quadratic incentive scheme. Both incentive schemes achieve the optimal solution, but each incentive
scheme has its own advantage over the other depending on the situation. 相似文献
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Piyush Tiwari & Hiroshi Hasegawa 《Review of urban and regional development studies : RURDS : journal of the Applied Regional Conference》2000,12(1):54-73
This paper reports on the estimation of housing demand for tenants in Tokyo Metropolitan Region using household level data for 1993. The results indicate that the rental housing demand is inelastic with respect to permanent income and price, with coefficients as 0.31 and -0.093 respectively. Other important variables, which determine housing demand for tenants are length of stay and type of household. Larger households demand more housing. However, keeping the size of household constant, households with elderly members have higher demand for housing. The only exception to the rule is households formed with members not belonging to same nucleus family demand less housing. 相似文献