The development of the group accounts disclosure system in Japan

The Japanese disclosure system of consolidated statements was introduced in 1977 and extensively revised in 1997. The role of the bureaucracy has been significant in these developments and seems to be part of Japan's closed culture. However, other explanations could also be applied. In particular, although Japanese firms opposed such disclosures on the basis of preparation costs, the Japanese government had to modernize the disclosure system, including consolidation, in order to develop the securities market regardless of an individual company's interests.     

Nonlinear Drift And Stochastic Volatility: An Empirical Investigation Of Short-Term Interest Rate Models

In this article I provide new evidence on the role of nonlinear drift and stochastic volatility in interest rate modeling. I compare various model specifications for the short‐term interest rate using the data from five countries. I find that modeling the stochastic volatility in the short rate is far more important than specifying the shape of the drift function. The empirical support for nonlinear drift is weak with or without the stochastic volatility factor. Although a linear drift stochastic volatility model fits the international data well, I find that the level effect differs across countries.     

Glamour and Value Strategies on the Tokyo Stock Exchange

This paper evaluates the performance of glamour and value strategies and tests the extrapolation model for the Japanese equity market. In general, value stocks outperform glamour stocks by between 6 and 12 percent per annum for the five years after portfolio formation. Evidence from past, future and expected growth provides strong support for the story developed in Lakonishok, Shleifer and Vishny (1994). It is difficult to attribute the value premia to the difference, if any, in risk factors. In addition, the book-to-market premium is much closer to an arbitrage opportunity than the size premium.     

Germany Enjoys Splendid Trade Partnership with China

“China and Germany are longterm trade partners, The volume of our bilateral trade has reached more than $54 Million in 2004, Chinese Prime Minister Wen Jiabao and German Chancellor Gerhard Schroder have agreed to double our bilateral trade volume by the year 2010.“ Dr. Volker Stanzel,German Ambassador gave an active appraise on the bilateral trade relations when interviewed by China‘s Foreign Trade.……     

神经网络在实验室检测工作质量管理及控制中的应用

对实验室检测工作质量中存在的风险因素进行研究,形成风险评价指标体系,并运用BP神经网络建立风险分析评价模型,对风险评价指标进行量化评价,最终获得量化的实验室整体检测工作质量风险数据,为实验室有效管理提供科学决策依据。     

企业理财系统的耗散结构观

耗散结构理论可以解释社会现象。将耗散结构理论用于企业理财系统的优化,可实现其增强系统活力、实施动态管理、获得整体优化效应以及规避控制风险的管理目标。     

南京国民政府“裁厘改统”效果评析

裁厘改统"是南京国民政府时期最重要的财政税制改革之一,但对于此次改革的评价如何却一直存在较大争议。本文通过分析南京国民政府"裁厘改统"的预期目的和实际达到的效果,结合当时国内商民对"裁厘改统"的改革诉求,对南京国民政府的此次改革做一次全面的解析,重新审视这次改革的积极意义和消极影响。     

Bottom-up learning in marketing frontlines: conceptualization, processes, and consequences

This study proposes a frontline learning process by which organizations capture new knowledge generated by frontline employees in addressing productivity-quality tradeoffs during customer interactions and transform it into updated knowledge for frontline use. Updated knowledge, in turn, is posited to influence customer satisfaction and financial outcomes (i.e., revenue, efficiency). Empirical testing with multi-source data reveals that: (1) knowledge articulation mediates the transformation of knowledge generated in the frontlines into updated knowledge, (2) updated frontline knowledge positively impacts customer and financial outcomes, and (3) frontline employee workload inhibits the transformational process unless it is at an intermediate level (inverted U-effect), while employee goal convergence bolsters it linearly.     

Non-financial hurdles for human capital accumulation: landownership in Korea under Japanese rule

This study examined the relationship between land inequality and human capital accumulation in the Korean colonial period by using a panel data set from 1934 to 1942. Evidence of the adverse relationship between land inequality and the accumulation of human capital has thus far only been presented by using data from Western countries and from countries that achieved industrialization not under colonial occupation but by their own economic interest. The presented findings thus contribute to the body of knowledge on this topic and confirm the generalizability of the Galor model by analyzing the unique Korean context under Japanese rule in the early twentieth century. It is the first study to present evidence that inequality in landownership had an adverse effect on the level of public education in the Korean colonial period (i.e., it is a non-financial hurdle for human capital accumulation). By using a fixed effects model and a fixed effects two-stage least squares model with an instrumental variable estimation, this study exploits variation in inequality in land concentration across regions in Korea, accounting for the unobserved heterogeneity across these regions. Overall, this analysis establishes a highly significant adverse effect of land inequality on education in the Korean colonial period.     

地质雷达探测技术在水库放水洞病害治理中的应用

为解决新疆努尔加水库放水洞内壁渗水、渍水等病害问题,根据工程特征和病害治理的要求,运用地质雷达探测技术对放水涵洞进行了检测.采用地质雷达探测仪,对放水涵洞洞身进行全断面扫描,完成了八条雷达测试剖面线.探测涉及的介质有砂砾石层、黏土、沙土、泥岩、砂岩、混凝土、钢筋、钢管、地下水、空气.通过分析探测目标体的电性差异和边界特...