Abstract:In traditional, Power Industry is operated in vertical monopoly. Since the early 1980's, many countries have implemented electricity sector reforms. Many of these reforms have unbundled generation, transmission, distribution, and supply activities of the sector and introduced competition in generation and supply. An increasing number of countries are also adopting incentive regulation to promote efficiency improvement in the natural monopoly activities - transmission and distribution. This paper gives an introduction to incentive regulation, and analyses the experiences and lessons of price cap, which is one of methods of the theory of incentive regulation, applied widely in these reforms. According to the analysis, we design a hybrid scheme, which combines yardstick competition and benchmarking technique.

Abstract:This paper empirically discusses the mechanism of China Neutral Technology by Embodied Spillovers from North America, and the effect on China economic growth. The simulations show that the effects of technology spillovers on both the innovating and the receiving economies depend on SS and AC. The three sectors spillovers of North America can improve China's Hicks-neutral technological progress, but only the third industry can increase the output of same industry of China, and decrease the output of other two industries. Based on the simulations, some advices are given on China trade policy.

Abstract:This paper analyzes the industrial organization of public utility and its cause and synthetically researches government direct regulating pricing methods of public utility, mostly the static or dynamic cost mark-up pricing methods. It is indicated by the means of game theory and imperfect contract theory, under the conditions of imperfect information and the government's inferior position, It's impossible to develop the incentive mechanism to utility enterprise, makes low productivity in public utility. The inefficiency of the cost monitor and control is inevitable when the direct regulation pricing system be used. The thought of direct pricing methods is a mechanical obstruction to improve the effectiveness of public utility. It's the radical approach for the government to reform the regulation modes in order to improve the effectiveness and social surplus of public utility.

Abstract:The connection between China's Stock Market and Economic Growth is always regarded by economic and finances studies. For the time limit of the developing of stock market and the difficulty of data's collection, it is still in studying that the connection between stock market and economic growth, especially the causation versus regression. By the method of Demirguc - Kunt and Levine,this paper empirically tests the connection between China's stock market and economic growth on the season serial data from 1995 to 2000.The test indicates that there are insignificant between them.

Abstract:This paper discusses the efficiency of embodied spillover from North America and Japan to China. We suppose that embodied spillovers are transmitted by international trade. The efficiency of a country or an area utilizes the embodied spillovers depends on two aspects,which are AC(Absorption Capacity)and SS(Structural Similarity). The empirical analysis show that China's utilizing efficiency of the embodied spillovers from Japan(0.322 8) is larger than from American(0.187 3).

Abstract:For further optimizing the personal income tax rate in China, and making it more efficiently in adjusting income distribution and increasing its speed of international process, we provide the pattern of upended "U", the upper limit of optimized marginal tax rate and the range of paying taxes of levying the highest marginal tax rate of personal income tax according to the most suitable tax theory and the drawback of personal tax rate in China, the mathematical method. The personal income tax rate function of optimization is also given. We finally get the advancements of it in income distribution and international process through putting it into practice and comparing to the former rate.

Abstract:Developing of real estate industry is one of the important ways to optimize Chongqing's industry structure and develop Chongqing's economy based on the relative theory. This paper brings forward an aggregate demand forecasting model on the residence of Chongqing main city zone according as data of the level of residence and relative factors in a certain period of Chongqing main city zone,by the way of gradually regressing and compounding forecasting. The model indicates that, according with the characteristic of residence,the aggregate demand of the residence is positive correlation to the polulation of Chongqing main city zone.

Abstract:Before the gap enlarging among the areas in the western region, and on the basis of the theory and model of development pole, this paper studies the way of optimizing of industry structure of Chongqing in order to accelerate the rate of progress of the development of the western region, and to advance its economy power during it. By indexing the system's construction and analysing the demonstration, we consider that the instrument manufacturing sector, building, transport equipment manufacturing, general machinery, finance and insurance, and service industry of IT should be cultivated and supported as the cut-in industries in Chongqing.

Abstract:As a large burning coal country, resolving the SO2 letting problem is the most important thing in the environment protection work. Electric power industry reveals the supply's load rate declining and the discrepancy between apex and vale augments year after year. It makes the load adjustment become an imminency task in the electric power industry. The article popularizes the light power saving technology in the inhabitant living lighting power through reinforcing the DSM technology. It studies the influence on energy and environment after using the technology. It studies avoidable electricity quantity, avoidable electricity power, avoidable apex load, avoidable coal consuming and avoidable SO2 lettling. At last, it makes a concrete analysis with a city's example.

Abstract:According to the industrial character of old industrial basement, such as Chongqing, we select preliminarily the candidated inferior position industries by using DEA analyse model. The synthetical basical coefficient of candidated inferior industries is obtained by analysing their indices such as income elasticity of demand, compared superiority coefficient, compared rate coefficient and technical progress rate, etc. Finally determine inferior industries which was supposed to exit by considing fully society progress and continuable development. A new idea are provided for industral structure adjustment for old industrial basement in China.

Abstract:Productivity analysis is the main instrument exploring the source of growth, and the important means to determine the growth quality. From the World War II, the focus of productivity research in the world changed from partial factor productivity to total factor productivity, and this is the beginning of modern productivity research. On the basis of reviewing the total-factor productivity research in China and abroad, the research status is briefly discussed, and some suggestions are given to our research.

Abstract:The American put valuation problem is very important and complicated in the Option Pricing Theory (OPT), and so far the appropriate continuous-time pricing model and compact valuation formula for the American put option have not been found. On the basis of the research works of many scholars such as Black, scholes, Parkinson, Brennan, Schwartz, Rendleman, Bartter, Cox, Ross and Rubinstein etc., making use of the notion of limitation and the binomial approach, this paper constructs and realizes gradually approaching algorithm of pricing American put options. Its reasonability, convergence and validity are tested by computer programming. The results show that this algorithm can effectively resolve the American put valuation problem.

Abstract:Under uncertainty which the enterprise asset value follows an exogenous stochastic differential equation, total value of the enterprise equals to asset value added to present value of tax sheltering about coupons, minus present value of bankruptcy costs. Present values of tax-sheltering and bankruptcy costs are contingent claims of the enterprise asset value, which depends on endogenous bankruptcy point. An expression about asset value of endogenous bankruptcy is obtained by "high contact" condition, base on which effects on the stockholders and creditors are given when capital structure is dynamically adjusted, and interest and strategy of stockholders and creditors are discussed.

Abstract:The traditional method used often is net present value method(NPV)for valuing project. NPV is useful in many cases, but it doesn't get to the heart of how intimately linked capital allocation is to long term corporate strategy. In general,past investment projects generate future as well as current opportunities-an important consideration that NPV rarely takes into account. This paper presents an advanced valuation techniques-the real options approach that remedies some of the deficiencies inherent in traditional NPV. The main emphasis will be on techniques that emphasize the role that the adoption of projects plays in the overall long term strategy of a corporation. Because in reality the future markets have the great uncertainty that produces risky or opportunity with project so as to change the value of project. This will have an effect on decision making. The real options approach recognize that financial market information can be useful for determining the expected cash flows of a project as well as the appropriate discount rate and can thus provide more accurate estimates of value. Base on this, how to use the real options approach is introduced. The role that the real options approach played in valuing the project with abandonment or defer or extend etc. strategic options is described with examples.

Abstract:Operation of Debt to equity Swaps are thought to be a game process of conflict of interest when concerned interest groups seek furthest uses of them and dispute eminent domain of financial resources if state owned enterprise's property right configuration is not to be changed. That is to say, operation of swaps of debt to equity is one game between commercial bank and state owned enterprise firstly, and then it is another game of actualizing contract between AMC and stated owned enterprise. So the corresponding models are constructed according to game theory. The result indicates that enterprise and bank can compass an equilibrium and come to an agreement of swaps of debt equity. Nay, AMC must build up hawkish visualize to supervise and control enterprise's financial affairs and management in order to gain dividend and rights of section is bought back.

Abstract:Small sum credit is a efficient way to help farmer shake off poverty. The opportunity cost of win the loan, refinancing rat and the probability of success of have effects on the development of this item. In many areas, if the loan can't be paid in time, farmer will be punished. The way has great efficiency on the farmer who owes the loan on purpose. But the effect on the farmer who doesn't owe the loan on purpose of the way hasn't been studied. The relationship between the probability of winning the loan and these factors has been studied by a simple method in this paper. The conclusion is, the decrease in the opportunity cost and refinancing rat, the increase in the probability of success can help farmer win the loan. If there is no outstanding payment on purpose, the punishment has no advantage.

Abstract:More and more reconstruction events happened in China, it becomes a hot point. Lots of literatures are about reconstruction theory, reconstruction motives, reconstruction modes, reconstruction performance, but no one is a bout the relation between reconstruction motives and its performance. This paper takes those companies in Shenzhen Exchange reconstructed in 1999 as study samples, groups them on its reconstruction motive and analyzes their reconstruction performance by financial data before and after reconstruction. It is pointed out that the relation between reconstruction motives and performance.

Abstract:According to the mutual relations of standard costing,activity-based costing and inner transfer pricing, this paper explores systematically the approaches of the integrations of the above three in the large or medium enterprises that carry out decentralized management. Further, we raise three models as external report model, internal decision model and social contribution model, based on the financial accounting, managerial accounting and incremental accounting respectively. Finally, we investigate the principle of stratified application of the integration of standard costing, activity-based costing and inner transfer pricing, in the perspective of practice. The formula is presented that decomposes the inner transfer pricing, budgets the comprehensive cost and converses the variable cost & materiel cost into the manufacturing cost.

Abstract:This paper studies the behavior of velocity of money in China from 1980 to 2000, the result shows the long-run velocity of money is declined, but the short-run velocity of money is fluctuated with economic periods. We consider the main determinants of circulation velocity to be financial development, economic system, and economic periods.

Abstract:The authors use the ideas and methods of the game theory to reveal that, under the condition of dissymmetrical information, it can't form an effective cooperative relationship among supervisor organization, the shareholders and the enterprises. In the capital market, we explain the cooperative conditions and determinants researched. Only through strengthening the force of punishment towards providing the false information and increasing the benefit received by providing the real information, the enthusiasm of the founders' providing the false information drops, and the necessity of the supervisor organization's checking decreases. Finally, we give some suggestions about the construction and consummating of the capital market of the enterprise.

Abstract:Earning report is a main accounting report that transmits earning information to users. It is the core of financial reports system. Earning information is significant to users' decision making. This paper studies the respond of stock trading volume to earning report and draws the curve of trading volume before and after earning report. This paper further does a regression analysis of accidental earning and abnormal return rate, and draws the relation curve of them on the earning report date to prove stock trading volume does have remarkable respond to earning report. This research is significant to either lessen small investors blindness investment and help them make reasonable forecast to markets and regulate the disclosure of listed companies.

Abstract:The listed firm' information disclosure violation is the expectation result of violation cost-benefit under improper Corp governance. The information disclosure violation penalty imposed by CSRC and Stock Exchange doesn't prevent the violation behavior. The author puts forward Penalty effect issue of information disclosure violation and applies SUR event study method to statistical data. The empirical study yields several findings: 1) the penalty doesn't have enough intensity; 2) market response correlates to disciplinary action with publicity and severity; 3) penalty as a whole doesn't increase the violation cost. At last the paper presents some propositions based on the empirical analysis.

Abstract:Some symmetric mathematical models, such as Tech-Tech or Tech & Market - Tech & Market, had been set up in the researches of theoretical models of cooperative behavior among firms in strategic alliances. An asymmetric model is established in this paper by discussing the Tech-Market type strategic alliances and expressing the strength contrast between the partners in an alliance by the Bass diffusion models. The benefits changes of alliances partners are studied in several different occasions, and the model about the influences of learning upon partnership is built by introducing the learning mechanism to retrofit the Bass models. Then it is proved that the learning mechanism possesses strategic significance to the partnership, that is to say, the development of an alliance is beneficial to the partner who has higher learning efficiency and unfavorable to the other one. At the same time, the original cause of the strategy, i.e., gaining foreign investment and technology by let foreign firms own some domestic market share, was not work well in last ten years in China, has been revealed. It is pointed out that China's firms should do their best to improve their learning efficiency when they participate in the international alliances.

Abstract:This paper introduces the theory and research result on the manager pay. The mutual effect between manager pay firm performance is analyzed, and the managerial shareholding has no significant effect on firm performance, but the managerial annual pay has significant positive effect on the firm performance in Chinese public companies. It is found that the board structure and the owner nature have different effect to the style of manager payment. Finally, we put forward some feasible suggestion of buillding up a set of payment mechanism for Chinese public companies.

Abstract:In the strategic cooperation, relative status of the two partners which joined together by the covenant has a great impact on the finally profit distribution. It is analyzed by game theory in this paper that the influence of exterior cooperative opportunities upon the status of a firm when the firm join in an alliance. We focus on the great impact, which is produced by the chance to cooperate with the others that belong separately to the two firms in a strategic cooperation, on the status and profit distribution of the two parts. It is found that a firm will possessed a powerful status in an alliance and carve up more profits from the alliance when it has more opportunities for cooperating. The status differences between the cooperative partners can be better described when a firm sets up a strategic cooperation by combining the method The former researches are done which inspect the inner factors, such as the degree of firms being eager to join an alliance.

Abstract:There exists the information asymmetry between banks and enterprises that need loan, which can cause the problem of adverse selection. With the symmetry information, banks and enterprises can manage to reach best contracts. However, with the information asymmetry, when banks select the price of loan according to the average risk level of borrowers, the problem of adverse selection appears. Mortgage and guarantee are all very helpful to deal with adverse selection in some sides. For example, guarantee can send a signal to banks that enterprises could be low risky, and mortgage can make highly risky enterprises give up borrowing since it will bear more responsibility for its fail. A form of contract that connects the price of loan with the value of mortgage can help to recognize the style of different borrowers.

Abstract:In 1995, Padmanabhan and Vrat presented inventory models for deteriorating items with a constant selling price and stock dependent selling rate . Based on the result, in 2000, Kun-Jen Chung, Peter Chu and Shaw-Ping Lan devoloped the necessary and sufficient conditions of the existence and uniqueness of the optimal solutions of the profit per unit time functions without backlogging and with complete backlogging. Actually, the selling price need not be constant, it may be variable . This paper puts forward an EOQ model when the selling price is variable without backlogging, discusses the existence and uniqueness of optimum solution. The example is provided to illustrate the model. The theoretical evidence is provided for the inventory system to make management decision.

Abstract:Improves investment decision method NPV method by introducing risk. This paper CAPM and certainty equivalent wealthare applied because of NCF'S volatility of venture capital projects, on the basis of which, debt capital is introduced. the dissertation derives a levered risky project's NPV formula, which broadens applying range and lessens constrain conditions. For risky projects investment decision, the research provides a new theoretical basis.

Abstract:knowledge management is an effective method to improve the enterprise's competitive ability. To construct knowledge system is the base for the performance of knowledge management. According to the theory and method of system engineering, information system and information management, this paper gives an architecture of enterprise knowledge management system basing on management information system. The architecture includes several main parts, such as knowledge base, knowledge base management system, people for knowledge management and users. A function structure of knowledge management system is given too.

Abstract:In supply chain management, the forms of cooperation between the manufacturer and the supplier are various, and the forms of cooperative investment in supplier's renovation, study of fresh product and founding the system of share information are important. Incomplete Contracting Approach is applied to study the property delimitating and its efficiency problems of cooperative investment the strategy of manufacturer supports the renovation of supplier in supply chain through analyzing the equilibrium of incomplete information game in the cooperative investment of manufacturer and supplier. We illustrates the fitness of the three manufacturer's strategy of supporting, which are former share investment, let profit and subsidy. The conclusion is given that both parties define the form of property is basis on respective ability of bargaining.

Abstract:Agile virtual enterprise (AVE) is an important organization mode of 21 st century and an important method to response quickly to the changes of the market as well. Based on the analysis of the connotation of AVE and the differences between traditional enterprises and AVE, through a variety of views including function view, human/organization view, process/control view, information view, and resources view, the concept model of AVE is established. A variety of issues during the lifecycle of the AVE are also researched. The operation mode of the AVE and the questions that must be paid attention to are presented. This is helpful to understand and master the meaning and feathers of AVE, and to the practice of AVE in China, which will contribute to the improvement of compete ability of Chinese enterprises.

Abstract:Developing logistic based on e-commerce has been a hot point in the logistical field ,but putting the e-commerce logistic into reality still need further research .This paper suggests a logistical discount model. This model was directed by the ideal of logistic integration .The transportation discount was taken as a main instrument to reflect this idea. This model can be adopted by the fourth logistical company which want to make a profit from e-commerce logistic. After an analysis, the author gives an algorithm about the model.

Abstract:The article deals with the guidance of Two-Factor Theory. There are two kinds of customer expectations, which are basic expectation and potential expectation. Basic expectation is similar to dissatisfiers and potential expectation is similar to satisfiers. Basic expectation and potential expectation are different in different stage of customer lifecycle, therefore, corresponding measures are supposed to be taken to meet their different stages.

Abstract:The efficiency of the listed companies, to much extent, results in that of the corporate governance, and meanwhile, whether the corporate governance is effective or not depends on the rationality of the share structure, in which large shareholders are always playing an important role. In China it is essential for security market to develop soundly. So there is not too much to emphasize the effects of the listed companies share structure on the efficiency of governance. In this paper using the methods of canonical test and synthetically grading, the authors analyze 139 Chinese listed companies, the samples of our empirical analysis, and draw conclusions that the proper degree of the share's decentralization will lead to the improvement of performance. Furthermore, both over-decentralized share and the other extreme also are propitious to the control of insiders' control and the stimulation of managers.

Abstract:In the theory and practices of international relationship marketing, relationship quality (RQ) has been paid more and more attention to in the research of enterprises' multi-national business. This paper begins with the analysis of the characteristics of relation and relationship quality, and explains the effect of RQ on the international purchasing alliance decision by a causal analysis model set up. In this model, by theoretical analysis, develop four factors to describe RQ and make an empirical analysis with the answers of 151 purchasing managers in the questionnaire. The result shows that RQ has been the critical factor of international transaction decision.

Abstract:It is crucial for corporations to select a proper development mode in competitive market. Diversification has been one of the most popular development modes that corporations all over the world pursued since 1960's. The relationship between diversification and economic performance is also an important subject for the research in strategic management. This paper re-examines the economic performance of China listed corporations and designs the measure index system of diversification strategy and economic performance. Moreover, it adopts empirical study on the relationship between them through the approaches such as regression model, variance analysis. It attempts to seek for the diversification development mode fit for China corporations so as to enhance economic performance.

Abstract:As the development of knowledge economic , human resource has been the core of the world economic .So searching the reasonable evaluating and managing methods becomes one of the hot issues which have been concerned by people . Traditional evaluating methods of human resource are simple and direct , but they greatly depend on people's subjective judgement and experience . In order to overcome the default , this paper puts forward the method of synthetically evaluation on rough sets, which takes advantage of the rough sets theory, the concept of information entropy and relative analysis to filter the original indexes, then to standardize the importance degree of every index and get the weight of every index. Synthetically valuation model and corresponding arithmetic are summed up. Finally the sample illuminates the validity and feasibility of this method.

Abstract:Economic chaos is a random-like dynamic behavior resulting from definitive economic system . Although the time series from economic system isn't forecasted in a long term ,but can be predicted precisely in a short term , thus , by which a deterministic model can be constructed . To search chaos character in economic time series , we present a combined forecasting method of economic chaos basing on genetic algorithms and the reconstruction of phase space given by Wolf, this method takes advantage of genetic algorithms to determine the weighting coefficient of combined forecasting. It's greatly overcome the defaults that when traditional forecasting of economic chaos single model is mostly used so as to affect the forecasting precision. At last , an example is given to testify the validity and feasibility of this method.

Abstract:In the group decision supporting system, no matter how excellent the individual decision terminal is, it's difficult to ensure the correction of the final decision without a efficient and reliable GDSS coordinated system.Since the voting instrument is the key part of the GDSS, the efficiency and the reliability of the system are very important and must be programmed specially. Under the common situation, the voting instrument is produced by the pure software method. However, the pure software method is liable to be attacked and destroyed by the computer virus and hacker program in the circumstance of the network group decision system. While, the voting model based on the hardware logic method takes the advantage of the speed and reliability over the software model.