Unemployment insurance benefits and income smoothing

Labor unemployment insurance reduces unemployment concerns. We argue that these benefits moderate incentives to smooth earnings to reduce employees’ concerns about unemployment risk. Using exogenous variations in unemployment insurance benefits, we find evidence consistent with this argument. We also find that the link between unemployment insurance benefits and income smoothing is stronger when there is higher unemployment risk and when the firm is likely to employ more low-wage workers, who find unemployment insurance benefits especially useful. Our paper contributes to the literature by showing that public policy decisions such as unemployment insurance have significant, albeit probably unintended, externalities on corporate financial reporting.     

Mandatory IFRS adoption and management forecasts: The impact of enforcement changes

We examine how concurrent enforcement changes affect the positive relationship between mandatory IFRS adoption and firms’ voluntary disclosure. We show that the increase in the issuance of management forecasts after IFRS adoption is smaller for firms from IFRS-mandating countries with concurrent enforcement changes than for those from countries without such changes. We find no difference in the increase of forecast informativeness between firms from IFRS-mandating countries without concurrent enforcement changes and firms from non-IFRS-mandating countries; however, firms domiciled in IFRS-mandating countries with concurrent enforcement changes exhibit a significantly smaller increase in forecast informativeness. Our findings suggest that better IFRS enforcement distinctly weakens (strengthens) the positive effect of IFRS adoption on voluntary (mandatory) disclosure.     

FDI facilitated by agglomeration economies: evidence from manufacturing and services joint ventures in China

The open door policy of China’s economic reform since the 1980s has attracted heavy foreign direct investment (FDI) flows into China and especially to Guangdong (particularly the Pearl River Delta region, PRD) and induced significant economic growth during the past two decades. While there exist various classical theories of FDI in attempting to identify the determinants of FDI inflow and to explain the behavior of FDI flows, limited attention has been given from the perspective of agglomeration effects generated by a core-periphery (CP) relation.This paper intends to study the impacts of agglomerations on FDI inflows in the context of Krugman’s CP relation (1991) by investigating (1) the formation of a CP relation via gravity model analysis; (2) whether different types of industry FDI flows will respond differently in the CP-system, given agglomeration effects; and (3) whether FDI origin and firm scale matter in affecting FDI flows.A database consisting of a population frame of 37,742 firm-level manufacturing and services joint ventures investing in Guangdong in 1998 was used. Empirical results show that the agglomerations of the CP relation have affected FDI flow patterns. While both manufacturing and services FDI and sources of investment responded differently to the impacts, smaller firms were found more responsive to the CP-agglomeration settings regardless of FDI by industry type and by source. The significance and implications of the CP-system to further facilitate FDI in the region are discussed.     

Early Retirement and Bridge Employment Intentions Among Older Workers in Singapore

This paper examined the relevance of 14 demographic, cognitive, and affective factors in individuals' intentions to voluntarily retire early and to secure bridge employment after retirement. Results based on a sample of 361 respondents aged between 40 and 59 suggested that marital status, perceived negative age-health relationship, gender psychological readiness for retirement, and family orientation were related to early retirement intentions. Work centrality, perceived organisational attitude towards older employees, and psychological readiness for early retirement were related to bridge employment intentions. Implications for research were discussed.     

岑溪至梧州高速公路水泥混凝土路面滑模施工

高速公路实施滑模施工技术,它施工机械化程度高、规模大、速度快,特别适用于混凝土高速公路的大规模快速施工,有利于加快广西高速公路建设.     

中国城市可持续发展的国际借鉴

随着世界各国城市发展不断地向前推进,然而把发展目标具体化为追求GNP的增长而忽略社会和环境方面的指标,导致城市的可持续发展面临社会和环境问题的尴尬。为此,本文从制定和执行可持续发展政策的角度,举例美国旧金山、加拿大柏林顿城市的可持续发展实施概况,从中探索城市可持续发展的一般规律,寻求中国城市最优化可持续发展模式。     

政府审计成本管理探析

随着近年来审计公开力度的加大,审计透明度的增强,社会公众对审计监督的期望也越来越高。但长期以来审计任务繁重与审计资源相对短缺之间的矛盾也很突出。在审计经费有限的条件下,必须借助审计成本管理的手段来解决这一矛盾。本文就加强审计成本管理的必要性,审计成本管理的原则以及如何实现对审计成本的控制等方面进行了分析和探索。     

我国股份制商业银行面临的挑战与对策

加入WTO后，我国股份制商业银行在经营体制、经营理念、经营规模及技术、人才、安全等方面面临着挑战。为应对挑战，应建立现代公司治理结构，建立金融创新服务体系，坚持依法合规经营，组建银行集团，建立人才培养机制。     

运用马克思的资本理论分析现实经济问题--论国有资产管理中的资本经营

本文通过运用马克思的资本理论分析当今国有资产管理中的资本经营,指出国有资产管理必须关注资本经营,才能使国有资产的保值增值.同时,提出国有资产管理中的资本经营必须关注的几个问题.