A股上市公司变相财务操纵对行业估值的影响

关于上市公司利润操控的相关研究主要是将净利润作为一个事关操控的敏感指标,但在监管与被监管双方努力的博弈下,其可被操纵的潜力已被充分挖掘。从实证角度关注上市公司财务操纵的其他可操作途径,其中就包括一些看似合理的变相财务操纵手段。按照2001年中国证监会公布的《上市公司行业分类指引》,把我国上市企业分为13个行业,对不同行业内企业2003—2013年部分主观可操控的财务指标与其所在行业的平均市盈率进行格兰杰因果检验和回归分析,结果表明,一些行业内企业的部分财务指标与其所在行业的平均市盈率存在领先与滞后关系,并且影响作用显著。     

隋唐时中国宗教政策

导引
　　中国有悠久的历史。历史上每个朝代有主要思想的宗教信仰。通过这小论文来要研究各朝代流行的宗教有什么。我要研究那朝代兴起那宗教的一些背景是什么样的。     

Product universality and design for supply chain management

We describe our experience of developing models in which the principles of design for supply chain management (DFCM) have been implemented for new product development at Hewlett-Packard Company (HP). This experience arises from the development of a new product that is scheduled to be released in 1995. A key design decision faced by the product development team was whether to use a universal module or regionally dedicated modules to satisfy global market requirements. We describe a wide range of factors—including manufacturing and logistics costs—that could be used to support the design decision; these factors associated with product and process design contribute to tolal supply chain costs. We review the analytical model used to evaluate the cost and service implications of the two design alternatives. Finally, we discuss qualitative considerations that might influence the eventual decisions as well as the lessons learned from this real world experience.     

Just-in-time purchasing: an empirical investigation

The just-in-time (JIT) literature suggests that, for JIT to be successful, a manufacturing firm has to make changes in its purchasing operations. However, empirical examination of the JIT purchasing related issues is limited. For example, a literature search identified 49 JIT purchasing articles. Of these, only 14 are empirical studies; two dealing with statistical testing of a few JIT purchasing issues. This comprehensive empirical study is undertaken to investigate (a) changes in the purchasing attributes since JIT implementation, (b) supplier evaluation cri-teria, and (c) problems with JIT purchasing implementation. Statistically significant changes are observed in 28 out of 32 attributes identified in the literature, suggesting that the manufacturing firms are successfully implementing JIT purchasing programmes. Of the 14 supplier evaluation criteria, the empirical investigation shows nine of them being important. Erratic demand for the product and customized product are found to be problematic (but not very problematic as suggested in the JIT literature( in JIT purchasing implementation.     

DISARMING THE OPPOSITION: THE PRESIDENT, THE PUBLIC, AND THE INF TREATY

Data from a nationwide opinion survey are used to test the propositionthat President Reagan's sponsorship of the INF treaty effectivelydisarmed the opposition that hard-liners would normally haveregistered against the treaty. The data are consistent withthis interpretation. That is, the president's endorsement ofthe treaty had only a modest impact on those who perceived theSoviets as relatively nonthreatening, but it had a much morepronounced impact on those who viewed the Soviets as threatening.These results shed new light on the extent to which and theconditions under which Americans are willing to set aside theirown policy predilections and follow along behind presidentialinitiatives in the international arena.     

Everybody In? The experience of disabled students in further education

The authors report on a study of student attitudes towards disabled students in three colleges of further education. They found that many non-disabled students were not aware of the various issues facing disabled students at the colleges. Social contact between disabled and non-disabled students was not extensive, although those who had attended school with disabled pupils were more likely to have friendships with disabled students at college. Whilst non-disabled students were strongly supportive of inclusive education in principle, many saw inclusion in the mainstream as conditional on the particular impairment of an individual. Disabled and non-disabled students supported the view that early social and educational contact results in greater mutual understanding, and is of benefit to all students.     

SOME LIKE IT HOT: INDIVIDUAL DIFFERENCES IN RESPONSES TO GROUP FEELING THERMOMETERS

In this paper we explore the nature and causes of individualdifferences in the use of feeling thermometer items to evaluatesocial groups. Some respondents have a general tendency to assignhigher overall temperature readings and some tend to use a widerrange of the temperature scale. These tendencies are partiallyunderstandable in terms of the respondent's evaluations of socialgroups, but other important predictors are identified. Methodsof adjusting feeling thermometer scores to account for individualdifferences are explored, using data from the 1984 AmericanNational Election Study. The conclusion is that some sort ofadjustment is probably useful for those studying supportersof conservative groups, though such a procedure may not be neededfor those who focus on liberal groups.     

Judgments of the Carter-Reagan Debate: The Eyes of the Beholders

In line with social-psychological theory and with findings fromprior analyses of the impact of televised campaign debates,the 1980 Carter-Reagan debate seems to have been interpretedlargely in light of preexisting candidate preferences. Knowledgeof whether a viewer intended to vote for Carter or Reagan and,for undecided voters, knowledge of position on the liberal-conservativecontinuum, permit accurate predictions to be made of judgmentsof who won the debate.