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简介：ThispaperexaminestheeffectofgovernmentpoliciesonthefinancingdecisionsoffirmsinChina.Arealoptionsmodelisdevelopedtounderstandhowfiscalandmonetarypoliciesaffectcorporateleverage.Themodelpredictionswillbetestedwithacomprehensivepaneldatasetspanningfrom2002to2011.Thisworkdocumentsrobustevidencethatshowthepositiveassociationofbothtaxandrisk-freeratewithfirmleverage:increaseintaxrateandriskfreeratebyonestandarddeviationresultsintheincreaseincorporateleveragesby0.61to1.06percentand2.54to3.68percent,respectively.Inaddition,theproductionsofthefirmsarenotaffectedbythetaxrateintheshortrun,andthefirmsareoperatingintheiroptimalmarketleverage.Theimpliedtaxrateandriskfreeratearesolvedbyassumingthatthefirmsachievetheiroptimalleverages.Theimpliedtaxratedeclineswiththesize,whereastheoppositegoesforimpliedrisk-freerate.

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简介：Thispaperconstructedportfoliosaccordingtothegrowthratesandtheirstabilityoffirm'stotalstockholders'equitypershareandnetincomepershare,usingallthefirms'informationofShanghaiA-sharemarket.Wefoundthatthemarketexhibitssomeoverreactiontothegrowthraieoffirm'snetincomepershare,andisn'tsensitivetothestabilityoffirm'sgrowthrates.

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简介：改进在人们中华民国(中华人民共和国)和美国(美国)之间的关系并且保证他们作为联盟者而非作为竞争者一起工作能对武装冲突用作稳定的力量，特别地与包围国家。在PRC和美国之间的经济、社会、政治的关系沿着一次多山的旅行进行了。作为在世界上的第二最大的经济，PRC继续了开发它的军人并且被决定爬工艺的梯子。这生长导致了US和PRC被叫作超级大国的G-2。当US霸权继续变弱，这种G-2关系正在变得更重要。与重要经济，政治，并且在危险中的安全问题加强这些关系的努力被优先考虑并且实现，是关键的。一个严密prioritization过程，分析网络过程(ANP)此处被使用在G-2关系中优先考虑努力和行动。模型与结果和在场的广泛的敏感分析被介绍另外的卓见进建议答案。

简介：ThispaperaddressesthesupplychainengineeringanditsapplicationinChina’sretailingindustry.Basedontheapproachesofsystemsengineering,weproposetheconceptofsupplychainengineering,whichappliestheideaofsupplychainmanagementtotheengineeringpracticesthroughtheadvancedinformationandmanagementtechnology,tointegratethesupplychainsystemandoptimizeitsoperations.WethenillustratetheapplicationofthesupplychainengineeringinChina’sretailingindustry.Insuchpractices,wedevelopedthevirtualretailingenterprisemodeandtheFROM-SCMsystem,anddesignedthesalesassistantetc.SuchtheoryandpracticesaresuccessfullyappliedinMeiyijia,whichhastransformedMeiyijiafromatraditionalretailertoamodernserviceenterprise,andtheprofitsareresultedfromtheservicefeesratherthanthetraditionalsurplusbetweenbuyingandsellingprices.NowMeiyijiahasbuiltanecosystemwiththeretailerinthecore,theheadquarterastheserviceplatform.ThesuccessofMeiyijiainrecentyearsshowstheeffectivenessofthesupplychainengineering.

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简介：大、复杂的建设从各种各样的来源投射脸风险，如此的工程的成功的结束取决于有效风险管理。这研究调查参予在中国构造AP1000核电厂的中国公司面对的风险。AP1000核反应堆是新的，产生III+反应堆由Westinghouse并且到设计了在中国首先被造。半结构化的会见途径被用来从在中国涉及AP1000工程的专家得到信息。基于会见，风险的各种各样的来源被识别。通常除了将军冒险那megaprojects脸，有唯一的风险，从象工艺、政治、组织上、单个的人员风险那样的各种各样的来源产生。风险管理策略被建议管理在学习识别的一般、唯一的风险。这研究的调查结果将对涉及AP1000核电厂的构造减轻与工程联系的风险的中国公司有用。

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简介：TheestablishmentoftheChinaPilotFreeTradeZone(FTZ)hassignificantlypromotedinternationaltrade,financialdevelopment,andeconomicgrowth.Buildinginternationalfinancialcenters(IFCs)satisfiesthedemandforFTZstofacilitatefinancialdevelopment,aswellaspromotingeconomicgrowth.Thus,successfullypredictingthenextIFCinChinaundertheFTZframeworkisanimportantissue.Inthisstudy,weappliedgreyrelationalanalysiscombinedwithentropymethodtopredictpotentialIFCsamongsevenFTZcities.Accordingtotheresults,ourinterestingfindingsinclude:1)the'totalstockturnover','totalvalueofimportsandexports',and'ForeignDirectInvestment(FDI)'arekeyindicatorsfordeterminingfutureIFCs;2)amongsevencities,ShenzhenandTianjinarehighlylikelytobecomethenextIFCs,whileShanghaiisalreadyanIFC.

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简介：中国从严肃的水问题正在经历。在在堤的构造的中国的九主要的河盆之中有许多差别，水库，制约，洪水分泌物工程，洪水转向工程，浇生态的建设，水管理管理，等等。为九条主要的河的水资源的阴影价格能提供建议给中国政府。这篇文章开发价格基于优化模型的amultiperiod输入产量接近的一个动态阴影。不同于以前的途径，新模型基于动态可计算出来的一般平衡(DCGE)解决水资源的边缘的long-termprices的问题的模型。首先，DCGE的定义和算法被详细描述。第二，为在在用国家的水管理input-holding-output的中国的1949-2050的九条主要的河的水资源的阴影价格的结果搁置因为在1999的九条主要的河被列出。这篇文章的Aconclusion是为九条主要的河的水资源的阴影价格大部分基于缺乏的程度。水资源的售价应该经由代表阴影价格的参数的用法被修订。

简介：Acommonfeatureofpreviousstudiesabouttheapplicationofdataenvelopmentanalysis(DEA)todetermineenvironmentalandeconomicefficienciesisthatthetwowereanalyzedinseparatemodelsorframeworks.Thepurposeofthispaperistoanalyzetheeconomicefficiencyandenvironmentalefficiencywithasinglemodel.ThispaperproposesanintegratedDEAmodel,basedonamodificationofthedirectionaldistancefunction,whichallowsustodecomposetheeco-efficiency(EE)intotheeconomicefficiency(ECE)andenvironmentalefficiency(ENE).TheECEcharacterizestheabilityofgainingeconomicbenefitswhiletheENEcharacterizestheabilitytocontrolpollutantemissionsinproductionactivities.IdentificationofECEandENEcanhelpdecisionmakersofdifferentregionsdetectwhatkindoffactor(economicinefficiencyorenvironmentalinefficiency)isthemainsourceofeco-inefficiency.ThiscanhelpdecisionmakersmoretargetedtoimproveEE.Toillustratethefeasibilityofourapproach,acasestudyof30regionsinChinaispresented.Theempiricalresultsshowthatalmostallregionshaveveryhigheconomicefficiencies.Theenvironmentalinefficiencyisthemainsourceofeco-inefficiency.Thedifferencesofenvironmentalefficienciesleadtothedifferencesofeco-efficienciesintheeast,centralandwestareas,whiletheeconomicefficienciesdonothavesignificantdifferencesamongtheseareas.Theeconomicefficienciesshowedanopposite'V'shapeandtheenvironmentalefficienciesshowedadecreasingtrendduringtheperiod2010–2014.