18—20世纪初俄国价格和工资的变化趋势

18世纪中叶全俄市场形成。在统一的空间框架下,俄国不同地区之间的价格和工资变化趋于同步。彼得堡工人实际工资水平的变化反映了俄国所有工人物质状况的变化,虽然各地区的价格和工资水平存在差异,但变化的一致程度非常高。     

青岛房价分析

近几年来,青岛房价一直呈上涨趋势,并且这一趋势将持续下去。面对市民持续增长的住房需求和不断走高的房价,政府管理部门采取多种手段平抑房地产价格,谨防“过热”现象的发生。建议增加土地供应,控制贷款,限制高档住房项目开发并支持低收入家庭,培养房地产品牌。     

论建设工程施工合同不适用情势变更制度

情势变更制度是我国民法草案中一条极富争议的法律制度。但在建设工程施工合同中此制度不适用。本文从建设工程施工合同的四种价款确定方式,即成本加酬金、可调价格、固定单价和固定总价出发,研究了不同条件下情势变更制度的适用,认为建设工程施工合同不适用情势变更制度。     

电价市场化制度设计研究

电荒的原因是由于电力部门的垄断经营和政府部门的行政干预.电价的市场化改革是根本解决电力问题的关键.文章在分析目前的改革措施及其存在问题的基础上,提出一个打破电力垄断的制度框架.     

WTO框架下我国农业国内支持的立法思考

世贸组织的《农业协议》明确规定了各国农业的国内支持规则 ,而我国在入世时也就此问题作出了郑重的承诺。在现阶段 ,研究我国农业的国内支持和补贴水平 ,分析国内支持措施的重要作用 ,对提高我国农业的国际竞争力和增加农民收入有着重要的意义。本文拟结合 WTO的相关规则和我国的国内实践 ,从立法角度对我国农业的国内支持措施的调整作出有益的探索 ,以建立一套行之有效的国内支持的法律体系。     

资本化视角下的农地使用权交易

农地使用权是土地承包经营权物权化的一种用益物权。农地使用权交易的实质是将农地作为产权和资本来经营。农地使用权交易在产权明晰的前提下,依照有偿使用和有偿流转原则,通过市场机制形成农地使用权的均衡价格,实现农民发展权益。该机制不仅有利于农地形成规模化、集约化经营,而且将更有效地保护耕地,实现农地资源有效率地配置,促进城乡经济全面协调发展。     

非财产损害赔偿之一般理论

非财产损害赔偿可以用金钱来赔偿,有不同学者对其正当性用事后的功能性补偿、事前威慑以及受害人事前保险的理论来说明,但是上述理论各自有其缺陷,尤其是在实际操作过程中,即赔偿额的算定中,并不能发挥相应的作用,从而难以为实践所采用。相反,价目表通过集体估价确定各种非财产性损害的价格,同时不排斥个案情况,是较为合理且操作性较强的确定损害赔偿额的方式。     

Financial systems,corporate control and capital accumulation

The rise of financial markets, backed by the revolution in information technology,has been one of the pillars of the new economy. Asset price inflation, financed by debt, has now become the driving force in capital accumulation and equity-linked markets for corporate control have significant effects on both corporate strategic management and the growth of the business sector. This paper develops a model to study these relationships. One component of the new circumstances is that an active market for control forces firms to boost their share price in response to the threat of take-over and, to maintain a minimum return on equity, they have to distribute dividends or buy back shares. As a consequence, the share of profits dedicated to financing internal growth is reduced, corporations increase their indebtedness and thereby become constrained by banks. The interplay of these multi-dimensional pressures delivers a straightforward, but nonetheless important lesson: everything else being equal, the more active the market for control, the lower the growth rate.     

The Effectiveness of Insider Trading Regulation in Italy. Evidence from Stock-Price Run-Ups Around Announcements of Corporate Control Transactions

All developed countries and most emerging countries restrict insider trading in the belief that it may undermine investors' confidence and the integrity of financial markets.Such regulation, however, has proved to be relatively ineffective almost everywhere, as shown by the records on convictions in the last few decades and by the pervasiveness of insider trading signalled by stock-price run-ups around announcements of private information.Identifying illegal insider transactions may be difficult: the private information must be material, i.e. price-sensitive, and in some countries prosecutors have to prove the use of such information by corporate insiders. Moreover, the investigative powers of the enforcing Authority may be weak and the deterrence of criminal sanctions may be diminished by lengthy proceedings, especially when alternatives, such as administrative fines and civil actions, do not exist.To date, the Italian legal system has experienced great difficulty in detecting and punishing illegal insider trading. Since they were first enacted in 1991, the insider trading rules have led to two convictions and to a very low ratio of prosecutions to allegations of illegal trading. Moreover, leakage of private information appears to be widespread, given that news about firm-specific events seems to be incorporated in stock prices long before it is disclosed in public announcements.This paper examines the effectiveness of Italian insider trading legislation by focusing, among other things, on the stock-price run-up around announcements of corporate events. In particular, after a brief survey of earlier research on legal and illegal insider trading and on the most important weaknesses in the Italian legal framework, standard event-study methodology is used to analyse stock-price run-ups around 29 announcements of corporate control transactions in the period 1998–2000. Indicators of the leakage of non-public material information are then constructed, showing that securities prices follow similar patterns regardless of whether insider trading is likely to have occurred. This evidence raises questions as to the efficacy of Italian insider trading regulation and the paper concludes with some suggestions as to how it could be improved.     

北京市政府采购执行过程中存在的问题及对策

政府采购可以节约财政资金、提高采购效率、发挥政策功能和行为导向作用。行政、事业单位在政府采购执行过程中,却出现了采购价格高、资金浪费等问题,本文针对北京市有关单位在政府采购执行过程中存在的问题进行了分析,阐述了产生问题的原因,并在此基础上提出了改进与完善的对策。