企业资本预算决策再分析——风险测量与规避

初始投资、年现金净流量、寿命期、基准贴现率等预测值,是投资决策分析的计算依据,而实践中投资活动充满了不确定性。应用敏感性分析,场景分析,盈亏平衡分析评估不确定因素对项目经济效果-净现值的影响,是防范各种不利状态下的风险与损失的有效方法。     

浅析成本法转为权益法——与张瑜东同志商榷

长期股份投资在会计核算上有两种方法 :成本法和权益法。当投资企业因追加投资等原因取得对被投资企业控制、共同控制或实施重大影响时 ,对长期股权投资的核算应从成本法改为权益法。     

Refining the Concepts of Territorial Revenue Assignment,Substate Fiscal Self-rule and Territorial Fiscal Balance

Fiscal federalism has offered a template for understanding intergovernmental fiscal relations. Yet when politicians are involved in day-to-day decentralization it may happen that some of the normative elements of fiscal federalism do not fit reality. Substate entities may go beyond the own-source paradigm and have a practical interest in alternative forms of fiscal self-rule. To better understand this pragmatism a threefold stage model of territorial revenue assignment is presented drawing on some insights offered by Germany’s fiscal constitution. Within this framework a reassessment of the role of territorial levels as levels during vertical revenue assignment is undertaken, a new typology of fiscal self-rule is introduced, and finally a theory of multiple territorial fiscal balance points is outlined, including the one based on the real domain of substate own policy-making.     

Do intergovernmental transfers affect the distribution of manufacturing production across regions in federal countries? Theory and evidence for Argentina

The effect of changes in the distribution of top-to-bottom intergovernmental transfers on the location of manufacturing production is analysed using a modified version of the footloose capital model. An increase in the share of transfers received by a region increases its share of manufacturing production the larger are transaction costs; the larger is the share of transfers going directly to consumers; the larger is the share of manufacturing consumption vis-à-vis non-tradable consumption; and the easier consumers can substitute among manufacturing varieties. Using data for Argentina for 1983-2005, the empirical analysis appears to support the existence of two distinctive regimes, with smaller/poorer provinces benefiting in terms of the location of manufacturing production as a response to an increase in transfers. Also, for these provinces, the benefits are greater if they are politically aligned with the federal government, especially through the receipt of discretionary transfers. For large/rich provinces, the evidence is less conclusive.     

动产抵押制度不合理吗？——兼与方金华、林旭霞商榷

我国《物权法》规定了动产抵押权制度。这一法制创新既不会引起理论上和实践上的缺陷,当然就更不会因所谓的缺陷而被让与担保制度替代。相反,《物权法》关于动产抵押权的规定为我们进一步创新担保物权体系,并最终制定一部“统一动产担保法”开辟了视野。     

律师阅卷难的法理分析及其立法建议

本文针对律师阅卷难的问题对全案移送制度及垄断证据的检察特权进行了法理分析;并在此基础上提出了全案移送检察院法院的“双轨制”,并对保障律师司法建议权提出了自己的看法。     

An analysis of science–industry collaborative patterns in a large European University

Our paper analyses the modalities according to which a large European university collaborates with firms by exploring its relational portfolio. We address this issue by exploiting a database that lists more than 1,000 firms having collaborated with the University Louis Pasteur (ULP) between 1990 and 2002. We first observe the relative importance of four collaborative channels (private contracts, European contracts, co-publications, co-inventions) across the whole population of firms. Second, using a multi-correspondence analysis, we derive a typology of collaborative patterns which underline the discriminating features of the frequency of interactions, of the exclusive versus open character of the relationships and of the nature of the collaborative channels. Four coherent classes emerge from particular combinations of these relational characteristics. Finally, using multinomial logit estimation, we show how this diversity of partnerships is connected to some individual attributes of the firms: size, status, sector and location.

长期股权投资两种核算方法的比较与转换

长期股权投资在会计核算上有两种方法 :成本法和权益法。这两种核算方法具有不同的特点并能够实现相互之间的账务转换。企业应当根据不同情况 ,分别采用成本法或权益法核算     

The politics of federal transfers in Putin’s Russia: regional competition,lobbying, and federal priorities

Most studies of intergovernmental financial flows in the Russian Federation focus on the federal center’s decision-making in determining the direction of these flows. Anecdotal evidence, however, suggests that regional governments employ a variety of tools and strategies to compete over federal transfers. This study uses data on federal transfers during 2002–2012 to examine the factors associated with the politically sensitive share of such transfers occurring in this period. The key findings highlight the importance of administrative capacity and the value of attracting attention from, as well as cultivating relations with, federal officials for shaping decision-making on the distribution of federal transfers. We discuss some specific strategies used by more successful regional governments in attracting additional federal funds.     

Optimal transfers and participation decisions in international environmental agreements

The literature on international environmental agreements has recognized the role transfers play in encouraging participation in international environmental agreements. However, the results achieved so far are overly specific. Therefore, we develop a more general framework that enables us to study the role of transfers in a systematic way. We propose transfers using both internal and external financial resources for making “welfare optimal agreements” self-enforcing. To illustrate the relevance of our transfer scheme, we use a stylized integrated assessment simulation model of climate change to show how appropriate transfers may induce almost all countries into signing a self-enforcing climate treaty.