钢铁行业优化资本结构探讨

以钢铁行业的上市公司为研究对象,从资本结构的角度入手,在借鉴国内外资本结构理论研究成果的基础上,探讨我国钢铁行业资本结构与其公司收益之间的关系。     

用数学方法分析会计现象

用数学的方法来分析会计问题,达到学科间知识的相互渗透,实现"数学辅助会计,会计促进数学".本文以2004-2005年20家电力行业上市公司对外披露的财务数据为样本,采用多元回归分析方法对我国电力行业上市公司的资本结构及其影响因素的关系进行实证分析.最后针对电力行业上市公司存在的问题提出了优化上市公司资本结构的对策与思路,以提高公司的获利能力,增强企业的竞争力.     

中小企业股票风险与收益的实证研究

资产资本定价模型(CAPM)是现代金融理论的核心内容,广泛应用于金融资产的定价分析及投资决策领域。总结现有文献资料,运用CAPM模型,以沪市人民币普通股股本小于5000万的80家上市公司过去三年风险收益为样本进行检验,得出了我国中小企业股票风险与收益之间基本上呈现负线性相关关系的结论,为进一步研究中小企业股票风险与收益提供了理论基础和实证支持。     

中金黄金荣获“2012年度中国上市公司资本品牌百强”“2012年度中国上市公司市值管理百佳”奖

2012年5月26日,由中国上市公司市值管理研究中心、清华大学中国金融研究中心与新浪网联合主办,中国上市公司协会和中国国际公共关系协会共同指导,以"资本市场品牌与股东价值管理"为主题的第六届中国上市公司市值管理高峰论坛在北     

投资者过度自信与企业投资行为——基于2006-2008年中国上市公司的实证研究

基于行为金融理论,选取2006-2008年沪、深两市上市公司相关数据,在控制其他可能影响上市公司投资水平的因素后,以年换手率作为投资者过度自信的代理变量,实证检验了投资者过度自信对上市公司投资行为的影响.结果显示,投资者过度自信与上市公司投资水平间存在显著的正相关关系,为投资者过度自信影响上市公司投资决策假说提供了经验证据.以上市公司年度托宾Q回归的残差衡量股票错误定价,从非均衡定价的角度直接衡量投资者过度自信,进一步对上述结果进行了稳健性检验,得到相似的结果.因此,如何有效减少投资者过度自信导致的上市公司非效率投资决策,应成为未来引导企业投资政策关注的重点.     

我国有色板块上市公司融资偏好研究

有色产业是我国的支柱产业之一,本文以有色板块上市公司作为研究对象,分析了有色板块上市公司融资的现状,指出了有色板块上市公司当前资本结构存在的突出问题,并从股份发行制度、资本市场和地方政府角色等方面剖析了问题的根源。     

上市公司会计制度的变更机理:基于两个视角

本文从上市公司资本运营中出现的重大问题和产权制度改革两个视角出发,结合相关企业实际,提出了上市公司会计制度的变更机理,并阐述了会计制度变更对上市公司的发的影响.     

上市公司董事会治理与债务杠杆及期限的选择

根据已有的文献,作为公司内部治理核心的董事会与资本结构在控制代理成本方面可以互相替代或互相补充;债务,作为资本结构的一部分,特别是短期债务对上市公司的管理者有潜在的约束作用.在此前提下,运用中国上市公司的数据研究了上市公司董事会治理特征对资本结构选择的影响.从董事会独立性、规模、董事会活动、领导权结构、董事持股以及审计委员会设置六个方面来衡量董事会治理特征,实证结果表明:董事会治理对债务杠杆的选择有显著影响,对债务期限选择的影响则并不显著.     

基于财务数据的有色金属上市公司成长危机研究

有色金属行业是国民经济发展重要命脉,在当前经济低迷背景下发展面临着诸多问题,成长性研究是有色金属行业研究的重要内容。以2013年有色金属行业上市公司为样本做实证研究,基于财务数据运用Logit regression构建模型,采用2014年的样本公司对模型进行稳健性检测,最终结果表明,Logit模型可以有效预测有色金属行业上市公司成长危机。企业业绩、资本结构和营运能力是影响有色企业成长性的重要因素。     

经济增加值对企业价值相关性的实证分析

经济增加值作为传统会计盈余指标的拓展,能够对企业的价值创造进行真实而全面的表述.以国务院国资委2010年起在中央企业全面推行经济增加值考核体系为契机,使用2005-2008年度资本市场上市公司的公开数据.研究了经济增加值与企业价值的相关性.结果表明:在价格模型下,经济增加值与股价显著相关;在收益模型下,经济增加值不能对股票收益进行较好的解释.对经济增加值构成要素增量信息含量进行了实证检验,认为:计算经济增加值时,进行会计调整具有一定的积极意义.同时,对经济增加值理念在上市公司推广应用的可行性进行了分析与探讨.     

转炉炉壳热应力分析

根据实际转炉建立实体模型。以有限元为手段,考虑了炉衬和炉壳材料的物性参数随温度变化的特点和炉衬与炉壳之间膨胀间隙,计算了转炉炉壳在温度载荷和炉衬膨胀压力同时作用下的热应力。所得结果可为转炉炉壳设计提供依据。     

焦炭热性能指标意义浅析

通过对焦炭在高炉内的历程及其变化规律的剖析,阐述焦炭热性能指标的意义,形象地把焦炭在高炉内的损耗分为三部分(M1,M2,M3)。指出M2对焦比及焦炭价格有一定的指导作用。     

Results of treatment of cancer of the cardia

Cancer of the cardia is traditionally discussed with cardiac cancer of the lower portion of the esophagus and upper gastric cancer invading the esophagus, and the specific characteristics of cancer of the cardia have never been clearly defined. We reviewed the outcome of 172 patients with adenocarcinoma of the cardia who had undergone radical surgery between 1949 and 1994 in the Division of Gastrointestinal Surgery of the Cancer Institute Hospital. The centers of the tumors were located within 2 cm above and below the boundary between the esophagus and the stomach, and their longitudinal diameter was less than 8 cm. We divided the patients into an early period (1949-1979; n = 79) and a late period (1980-1994; n = 93), and focused on the historical transition. There were no differences in patient gender or histology between the two periods. However, the late period was associated with fewer cases of esophageal invasion and shorter longitudinal diameter, as the age of the population advanced. The number of advanced cancers such as the localized and infiltrative type had decreased, and early cancer and early clinical stage had become more common, but despite the fact that the number of early cancers had increased, extended dissection, such as thoracic and paraaortic lymph node dissection, was performed more frequently. By clinical stage, the long-term outcome markedly improved in Stage I patient in the late period, and tended to improve in Stage II and III patients. This appears to have been attributable to the prevention of micrometastasis by extended dissection, although the number of early cancers is another major potential cause. There were no differences in the outcome of Stage IV patients between the two periods, and further advances in multimodality therapy must be awaited. The range of resection is basically proximal gastrectomy, and if there are adequate indications, the prognosis is favorable. In view of the status of lymphatic flow and lymph node metastasis, and long-term results, lateroaortic lymph node dissection is important. Since the number of early cancer patients has been increasing, if intraabdominal recurrence is prevented, intrathoracic lymph node dissection will contribute greatly to the outcome of such patients.     

The effect of amount of possession of the trait of hostility on accuracy of perception of hostility in others.

Some theories of personality hold that an individual's perception of others is influenced by his own personality characteristics; more specifically, that a trait of low social value will be projected more into others, and that insight into the possession of these characteristics reduces this distortion. These 2 hypotheses were tested by having a group of college students rate each other (including themselves) on degree of friendliness or hostility. Agreement with group rating about self yielded the insight score. In general, the hypotheses were supported; the "friendly" Ss were most accurate in their perception of others, and insight was positively associated with accurate perception. From Psyc Abstracts 36:04:4HL16M. (PsycINFO Database Record (c) 2010 APA, all rights reserved)     

Effect of antibiotics of chemotaxis of human leukocytes

The effect of 20 different antibiotics on chemotaxis by human neutrophils was studied. Human leukocytes incubated with chloramphenicol, rifampin, sodium fusidate, and tetracyclines in vitro showed markedly depressed migration. The mechanisms by which these antibiotics affect leukotaxis are discussed.     

Quality of life of relatives of mental patients

Usage of quality of life of psychiatric patients' relatives as the parameter of estimation of the quality of psychiatric care is considered. By means of standard questionnaire elaborated by the authors as well as by means of both individual and group conversations the quality of life was analyzed in 40 relatives which lived together with psychiatric patients. Different spheres of their life and difficulties (financial, social-psychologic, production) were examined in families with such patients. The defects of psychiatric care that had direct influence on the quality of life of the psychiatric patients' relatives are outlined.