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We study the influence of stricter rules for determining performance measures for compensation contracts on managers' choice between real and accounting earnings management. Constraints, like accounting regulation or corporate governance, limit managers' influence on performance measures. We find that tighter constraints intensify real earnings manipulation, because they reduce incentives for managers to supply effort on investment activities. In turn, discretion allows managers to anticipate future benefits of investment and reduces real earnings management. The results hold when contracts include forward-looking information and suggest that constraints on managers' influence on performance measures drive the choice between accounting and real earnings management.  相似文献   
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This article presents a modification of Merton’s (1976) ruin option pricing model to estimate the implied probability of default from stock and option market prices. To test the model, we analyze all global financial firms with traded options in the US and focus on the subprime mortgage crisis period. We compare the performance of the implied probability of default from our model to the expected default frequencies based on the Moody’s KMV model and agency credit ratings by constructing cumulative accuracy profiles (CAP) and the receiver operating characteristic (ROC). We find that the probability of default estimates from our model are equal or superior to other credit risk measures studied based on CAP and ROC. In particular, during the subprime crisis our model surpassed credit ratings and matched or exceeded KMV in anticipating the magnitude of the crisis. We have also found some initial evidence that adding off-balance-sheet derivatives exposure improves the performance of the KMV model.  相似文献   
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The present paper explores the little studied area concerning the acquisition of recent biopharmaceutical initial public offering firms. We examine the nature of the relationship between the acquiring firm and the acquired initial public offering firm prior to the acquisition and from the perspective of the resource‐based view. We find to some extent that firm specific‐resources affect the prospect that the firm will be acquired. Furthermore, our findings show that firms with more of these types of resources are likely to be acquired by firms engaged in co‐opetition rather than by firms engaged solely in collaboration, competition, or (to a limited extent) with no prior relationship.  相似文献   
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The study surveyed 115 pregnant adolescents to determine their beliefs about nutrition during pregnancy. They were recruited from schools, clinics, residential homes, and public health facilities in 35 counties in middle and eastern Tennessee. Personal interviews and a 26-card game format were used to collect data. Participants read each belief from a card and attached it to a tack board indicating a response ranging from “strongly agree” to “strongly disagree.” Responses were factor analyzed, and those factors with loadings of ≥ .50 and with eigenvalues of unity were retained and named for the major concepts present in the belief statements. Subsequently, dietary patterns of the participants were compared to belief statements that mentioned specific foods and current recommendations for pregnancy. Adolescents agreed with recommendations associated with milk consumption and weight gain during pregnancy. These responses were consistent with a calcium intake of 1317 mg ± 669 and a mean weight gain of 36.3 ± 16.1 pounds. Erroneous beliefs, such as the baby getting what it needs over maternal needs, also received “agree” responses. Results overall indicate that pregnant adolescents in this group needed counseling about salt restriction, maternal versus fetal needs, and use of vitamin supplements during pregnancy.  相似文献   
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This is an exploratory study examining issues associated with women expatriates and their spouses. Individuals representing three groups - organizations, women expatriates, male spouses - were interviewed to identify their experiences and concerns. The authors conclude that this issue will pose a dramatic challenge for international organizations in the coming decades, and that it is timely to investigate the issue in more depth.  相似文献   
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Data from a study identifying consumer difficulties with the homebuying process were analyzed. The instrument listing 66 potential difficulties was mailed to a random sample of 250 homebuyers to indicate those encountered during search, purchase, and first year of occupancy. They were also asked to identify the two problems considered most important and their perceived causes. The response rate was 80.4 percent. Of the 201 households who responded, 153 were eligible buyers. The mean total number of difficulties reported by the sample was 7.16. Problems most frequently reported were higher utility costs, foregone activities, mechani cal system problems, necessary repairs or adjustments, delayed closings, and overlapping payments. Frequency distribution comparisons between sample subgroups showed sim ilarities on the most frequent difficulties, but variation in both content and rank order for the most important problems. Mean comparison tests revealed significant differences in total number of difficulties on the variables purchaser experience, income level, and age of struc ture. The 30 items reported most frequently by respondents were factor analyzed to identify underlying constructs. Upon extraction and rotation, 27 variables loaded upon four factors which were named: surprise difficulties, new-construction problems, financiallpersonal con sequences, and chain transaction constraints. Implications for further research and consumer education are drawn from the findings.  相似文献   
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Other people can profoundly influence individuals' feelings about their own body and physical abilities—important dimensions of personal identity and key factors related to lifestyle and body weight. Atotal of 103 adults shared narratives related to physical activity and body image. In relation to the influence of other people, some participants felt strengthened (e.g., praised, supported), and many participants reported damaging experiences (e.g., embarrassment, ridicule). The constructs of self‐esteem and sedimentation of experience helped guide interpretation of participants' stories. From a public health perspective, individuals need to feel competent to adopt and maintain a healthy lifestyle, and they need to feel worthy of living it. Recommendations are offered to help people engender these feelings in other individuals.  相似文献   
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