创业投资机构与创业板IPO首日折价行为研究

创业投资对创业企业IPO的影响主要集中在核证监督和信号传递效应两方面。国外学者利用发达资本市场数据实证发现:有创业投资支持的创业企业IPO首日折价低于无创业创投资支持的创业企业。然而,一些学者利用中国创业板数据实证却发现:有无创业投资参与的企业IPO首日折价率并无显著差别。文章基于中国证券市场运行结构,运用信号博弈和两阶段博弈模型探寻中国创业投资在IPO首日核证监督效应微弱的深层次根源。     

并购企业支付方式选择与内部控制、资本结构——基于logistic回归模型的实证研究

以2008—2010年间沪市上市公司的922起并购案例为研究样本,通过logistic回归方法,实证分析了内部控制水平、资本结构对并购支付方式选择产生的影响。研究发现：与现金支付相比,资产负债率越低,股权支付的可能性越大;内部控制水平越低,股权支付的可能性越小。内部控制水平与资本结构对资产支付及其他支付方式（以混合支付为主）影响不显著。     

什么决定了企业的最佳规模?——关于企业规模的研究述评

企业规模问题是企业理论中的焦点问题,通过从市场范围、生产要素、交易费用、产权、激励成本和信息成本等六个方面综合考察决定企业规模的因素以及相应的实证研究结果,指出了关于企业规模的企业理论对企业并购的理论启示和现实意义,并展望了今后的研究前景。     

外资并购国有企业的法律管制问题

外资并购国有企业是投资的热点，但存在“超国民待遇”、国有资产流失、国有股利益和债权人利益的保护、平等竞争及反垄断等问题。要解决这些法律问题，我国应借鉴发达和发展中国家管理并购的经验；同时，从我国实际出发，制定相关法律，逐步对外资实行国民待遇，加强国有资产评估的监督，规范并购程序，保护债权人的利益。     

Strategic Grading in the Product Acquisition Process of a Reverse Supply Chain

Most recommerce providers have moved to a quality‐dependent process for the acquisition of used products. They acquire the products via websites at which product holders submit upfront quality statements and receive quality‐dependent acquisition prices for their used devices. Motivated by this development of reverse logistics practice, the aim of this study is to analyze the product assessment process of a recommerce provider in detail. To this end, we first propose a sequential bargaining model with complete information which captures the individual behavior of the recommerce provider and the product holder. We determine the optimal strategies of the product holder and the recommerce provider in this game. We find that the resulting strategies lead to an efficient allocation, although the recommerce provider can absorb most of the bargaining potential due to his last mover advantage. In a second step, we relax the assumption of complete information and include uncertainty about the product holder's valuation of the product. We show the trade‐off underlying the recommerce provider's optimal counteroffer decision and analyze the optimal strategy, using a logistic regression approach on a real‐life dataset of nearly 6,000 product submissions. The results reveal a significant improvement potential, compared to the currently applied strategy.     

网络环境中的图书馆采购工作

随着网络技术的不断发展 ,图书馆采购工作表现出了新的特点。为此 ,图书馆采访人员应采取措施加以应对。     

软件无线电中正交数字变频的DSP实现

介绍了软件无线电的概念及DSP基本原理,利用DSP实现软件无线电中的正交数字变频技术,给出了中频下变频的数字化实现的主程序.     

Constructing identity with L2: Pronunciation and attitudes among Norwegian learners of English1

This study investigates L2 pronunciation and evaluation of American and British varieties of English among Norwegian adolescent learners. By integrating quantitative sociolinguistics and L2 acquisition, the article investigates stylistic practice in an L2 context. Results from an auditory analysis of four phonological variables and a matched‐guise test are interpreted with reference to speaker commentary. Learners’ self‐expressed accent aims correlate significantly with accent use, but American English is the dominant pronunciation. Results show that both L1 and L2 speakers of English varieties are socially evaluated by the learners; British English is considered the most prestigious model of pronunciation, while American English is associated with informality. These evaluations seem to motivate learners’ pronunciation choices. The data indicate blended use of the English varieties. Learners seem to exploit linguistic resources from English, and reshape and adapt the social meaning of the variables to a local construction of identity.     

基于绿色规模效益的中周连锁零售业并购

中国连锁零售业虽然销售规模和企业规模不断扩大。但与国外连锁零售业相比，还存在市场集中度低、规模经济不明显等问题。合理扩大连锁零售企业的规模既是完善自身发展、获得协同效应的有效手段，也是应对外资企业冲击的迫切需要。在分析中国连锁零售业现状和并购效应以及评论中国连锁零售企业并购历程的基础上，提出并购是获取规模经济的有效途径，并从政府、社会、企业三方面提出完善中国连锁零售业并购的措施。     

简易晶体管特性图示仪

介绍了一种以单片机为核心，结合普通双踪示波器的简易晶体管特性图示仪，对该仪器的结构组成框图和软硬的设计作了较详细的介绍。