Effect of corporate social responsibility on creation of added value

In the process of financial management and operation, a firm should not only aim to maximize its shareholders' benefits, but also consider the interests of all stakeholders. Bearing social responsibility to each stakeholder to a certain extent and pursuing harmonious social development are fully consistent with the concept of China's building a harmonious socialist society. Furthermore, added value also reflects the idea of social responsibility Based on the relational contract theory, the paper divides stakeholders into staff and shareholders under relational contracts, creditors, suppliers and consumers under transactional contracts and governments and communities under special contracts. The paper details the effect mechanism of a firm's bearing social responsibilities to each stakeholder on the creation of added value respectively, and considers that corporate social responsibilities should be included in the system for creating added value to theoretically support firm managers to fulfill social responsibilities.

CNPC Added Value Tops 100-billion Yuan in 1995

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Photoelectrocatalysis for high‐value‐added chemicals production

Photoelectrocatalysis(PEC)is a promising approach that can convert renewable solar energy into chemical energy,while most concern is concentrated on PEC water splitting to obtain high‐value‐added fuel—hydrogen.In practice,more economic benefits can be produced based on PEC technique,such as H_(2)O oxidative H_(2)O_(2) synthesis,organic selective oxidation,organic pollutants degradation and CO_(2) reduction.Although there are plenty of excellent reviews focusing on the PEC water splitting system,the production of various high‐value‐added chemicals in PEC systems has not been discussed synthetically.This Account will focus on the production process of various high‐value‐added chemicals through PEC technology.The photoelectrode design,reaction environment and working mechanisms of PEC systems are also discussed in detail.We believe that this comprehensive Account of the expanded application of photoelectrocatalysis can add an inestimable impetus to the follow‐up development of this technology.

Catalytic conversion of CO_2 to value added fuels: Current status, challenges, and future directions

The electrochemical reduction of C02 into liquid fuels especially coupling with the intermittent renewable electricity offers a promising means of storing electricity in chemical form, which reduces the dependence on fossil fuels and mitigates the negative impact of anthropogenic C02 emissions on the planet. Although converting CO2 to fuels is not in itself a new concept, the field has not sub- stantially advanced in the last 30 years primarily because of the challenge of discovery of structural electrocatalysts and the development of membrane architectures for efficient collection of reactants and separation of products. This overview summarizes recent advances in catalytic conversion of CO2 and presents the challenges and future directions in producing value-added fuels.

Global Development of Mobile Value Added Services

With the increasing demand for VAS from the subscribers, mobile operators are making efforts to create more services to promote the continuous development of the non-voice service application. The following three mobile VASes are becoming the development focus of operators.

Taxation in a Decentralized Value Added Tax Regime: Implications for States in Nigeria

The study examined the implication of a decentralized Value Added Tax system for states in Nigeria.It is a theoretical presentation that made is made of journals,articles,and data from the National Bureau of Statistics(NBS)accessed on Google Scholar Websites.A total of eighty(80)articles were accessed.Results from a theoretical review revealed that while few states in Nigeria are in favor of a decentralized VAT administration in the country,quite a number of them(States)are averse to the new VAT regime due to differences among the states in terms of volume of business activities and economic power as many of the states rely on federal allocation.The study,therefore,recommends Partial Decentralization(PD)of VAT administration in Nigeria as a measure of autonomy for states that will guarantee fairness in resource control in the Nigerian Society.

Value-Added Trade and Evolution of China's Comparative Advantages

Based on heterogeneity in firm's sales destinations and trade patterns, this paper estimates China's ratio of value-added exports(RVAE) using value-added trade accounting, and discusses the evolution of China's comparative advantages from the perspective of value-added trade. Our research findings suggest that without taking into account heterogeneity in firm's sales destinations and trade patterns,China's RVAE will be overestimated. Conventional gross trade accounting underestimates the export competitiveness of China's labor-intensive and capital intensive sectors, but overestimates the export competitiveness of China's technology-intensive sectors,which leads to a significant reversal of comparative advantages. Conventional gross trade accounting method overestimates the trade surplus of China's manufacturing and technology-intensive sectors with the US by about 60% and 85% respectively.

Empirical Analysis on Performance Evaluation of A Pharmaceutical Company Based on Economic Value Added

Objective To establish an economic value added(EVA)performance evaluation system to maintain the competitiveness of pharmaceutical company A under the environment of fierce competition in the pharmaceutical industry.Methods An EVA performance evaluation model was established by adjusting the items of EVA performance evaluation index,such as after-tax profits,total invested capital and weighted average cost of capital rate.Results and Conclusion EVA values of pharmaceutical company A from 2014 to 2018 were calculated and compared with the traditional performance evaluation method,it was found that EVA performance evaluation model reflected the real performance of pharmaceutical company A.Therefore,pharmaceutical company A is doing well,but its growth rate is unstable.

Growth and Interactions of Multi-Source Perturbations in Convection-Allowing Ensemble Forecasts

This study investigated the growth of forecast errors stemming from initial conditions(ICs),lateral boundary conditions(LBCs),and model(MO)perturbations,as well as their interactions,by conducting seven 36 h convectionallowing ensemble forecast(CAEF)experiments.Two cases,one with strong-forcing(SF)and the other with weak-forcing(WF),occurred over the Yangtze-Huai River basin(YHRB)in East China,were selected to examine the sources of uncertainties associated with perturbation growth under varying forcing backgrounds and the influence of these backgrounds on growth.The perturbations exhibited distinct characteristics in terms of temporal evolution,spatial propagation,and vertical distribution under different forcing backgrounds,indicating a dependence between perturbation growth and forcing background.A comparison of the perturbation growth in different precipitation areas revealed that IC and LBC perturbations were significantly influenced by the location of precipitation in the SF case,while MO perturbations were more responsive to convection triggering and dominated in the WF case.The vertical distribution of perturbations showed that the sources of uncertainties and the performance of perturbations varied between SF and WF cases,with LBC perturbations displaying notable case dependence.Furthermore,the interactions between perturbations were considered by exploring the added values of different source perturbations.For the SF case,the added values of IC,LBC,and MO perturbations were reflected in different forecast periods and different source uncertainties,suggesting that the combination of multi-source perturbations can yield positive interactions.In the WF case,MO perturbations provided a more accurate estimation of uncertainties downstream of the Dabie Mountain and need to be prioritized in the research on perturbation development.

Integration of Individualized Management Systems （MSs） as an Aggregating Factor of Sustainable Value for Organizations An Overview Through a Review of the Literature

Nowadays, there exist various standards for individual management systems （MSs）, at least, one for each stakeholder. New ones will be published. An integrated management system （IMS） aims to integrate some or all components of the business into one coherent and efficient MS. Maximizing integration is more and more a strategic priority in that it constitutes an opportunity to eliminate and/or reduce potential factors of destruction of value for the organizations and also to be more competitive and consequently promote its sustainable success. A preliminary investigation was conducted on a Portuguese industrial company which, over the years, has been adopting gradually, in whole or in part, individualized management system standards （MSSs）. A research, through a questionnaire, was performed with the objective to develop, in a real business environment, an adequate and efficient IMS-QES （quality, environment, and safety） model and to potentiate for the future a generic IMS model to integrate other MSSs. The strategy and research methods have taken into consideration the case study. It was obtained a set of relevant conclusions resulting from the statistical analyses of the responses to the survey. Globally, the investigation results, by themselves, justified and prioritized the conception of a model of development of the IMS-QES and consequent definition and validation of a structure of an IMS-QES model, to be implemented at the small- and medium-sized enterprise （SME） where the investigation was conducted.

Does the EVA valuation model explain the market value of equity better under changing required return than constant required return?

Through the Economic-Value-Added(EVA)valuation model,the expected market value of equity can be determined by adding the book value of equity with the present value of expected EVAs under the assumption of constant required return and constant return on equity.The equation of EVA valuation model has taken its shape under the assumption of constant required return and constant return on equity.However,a large body of empirical evidence indicates that required rate of return never remain constant.The EVA-valuation model formulated under constant required return cannot be implemented under the scenario of changing required return.In this study,we explored whether the EVA valuation model could be implemented under changing required return by making any changes in the model and found that it could be implemented under the scenario of changing required return by replacing the book value of the equity of the existing model with the present value of required earnings or normal market earnings.We further examined whether the explanatory ability of the EVA valuation model under the assumption of changing required return is better than that of the valuation model under the assumption of constant required return.Relative information content analyses were conducted by considering sample of the intrinsic value of equities determined by valuation models and the market value of equities of 69 large-cap,88 mid-cap,and 79 small-cap companies.The results showed that the EVA-based valuation model with changing normal market return outperformed the EVA-based valuation model with constant required return.

Audit Committee, Value Creation Efficiency and Capital Employed Efficiency

This study contributes a number of innovative and interesting empirical findings with a view of four audit committee characteristics to predict overall value creation efficiency and capital employed efficiency using value added intellectual coefficient （VAICTM） method. Using purposive sampling, 34 property, real estate, and building construction firms listed on Indonesia Stock Exchange in 2011 were selected. Empirical findings could not provide a significant relationship between audit committee characteristics and the overall value creation efficiency as well as capital employed efficiency. This implies that currently, the number of members, number of meetings, number of independent commissioners, and accounting or finance expertise in audit committee cannot be expected as drivers of business value creation in Indonesian context, more specifically for property, real estate, and building construction industry. The overall lack of significant relationships may potentially result from limited human capacity, lack of financial expertise, and inadequate knowledge about the role of audit committee to add value to the business.

Opportunities of Doubling Indian Farmers Income by Post Harvest Value Addition to Agricultural Produce

The governments across the developing countries are facing a challenge of steadily increasing population,maintaining balance in demand and supply of food and upliftment in socio-economic status of farming community.Among the leading developing countries,India has successfully increased agricultural crop production by fourfold,thus having at most potential for adoption of secondary agriculture practices after harvest of farm produce.Post-harvest processing of agricultural produce like milling of cereals and pulses,extraction of oil from oilseed crops,development of value added ready to eat and ready to serve food product etc.not only facilitate efficient utilization of crop produce but also check losses fetching better returns to the farmers/entrepreneurs.Post-harvest processing operations at the production catchment area helps in minimizing post harvest losses,helps in generating employment opportunities in rural areas,purity assured products in turn open window for the developed products to qualify for wider market.

Adding Value through Innovation——Woolmark's first China Australia Merino Summit

As a renewable,sustainable natural fiber to live with,Australian Merino wool has been showcased at World Expo 2010 Shanghai.

Adding Extra Value

China and Africa finding new ways to drive all aspects of mutual development A total of 210 orphans in the three states around Abuja,capital of Nigeria,went to a summer camp to celebrate the country’s Children’s Day on May 27.Huawei Technologies Co.,a leading global information and communications technology solutions provider from China,sponsored the event.

Adding Value

THE thunderous roar of water falling over Victoria Falls had to compete with a swarm of politicians who descended on Zimbabwe＇s tourist haven in mid-August 2014. Heads of state and leaders from Southern African Development Community （SADC） countries were there to attend the 34th SADC Heads of State and Government Summit. Under the theme “SADC Strategy for Economic Transformation： Leveraging the Region＇s Diverse Resources for Sustainable Economic and Social Development through Beneficiation and Value Addition.” the summit was opened by newly appointed chairman of SADC. Zimbabwe＇s President Robert Mugabe.

Adding Value to History

As a historical city rich in cultural heritage, Chaoyang is doing its utmost to protect, preserve and promote its culture FOR years iron ore was mined from the Niuheliang area,several kilometers from Chaoyang City in northeast Chi-na’s Liaoning Province. The high-grade iron ore from the

Trade Benefits and Environmental Costs of GVCS: A Case Study of the BRICS

As the international trading system has developed with the division of Global value Chains (GVCS), the export trade of Brazil, Russia, India, China, and South Africa (BRICS) has grown rapidly. The resulting growth of carbon emissions has drawn wide attention from the international community, necessitating the comparison of the trade benefits and environmental costs of the BRICS participation in GVCS. Based on the Eora database, this paper constructs a decomposition framework for the calculation of export value-added and embodied carbon, based on a multi-region input-output (MRIO) model. The trade benefits and environmental costs paid by the BRICS’ total exports from 1990 to 2015 were measured and the imbalance was analyzed, along with the causes. The results show that the main value-added and carbon embodied in the BRICS’ exports originate from their own countries, and the domestic value-added content of the BRICS’ exports decreased while the foreign value-added content increased.

The Innovation Research of Financial Early-Warning Index Measurement

The period economic fluctuation is vital for an enterprise to exist and further develop, it directly affect the enterprise financial health. So, it is significant to build up financial early-warning index and measure the warning condition that the enterprise faces and take the effective measures to eliminate. We criticize Altman’sZ calculating model and build up some new indexes for enterprise financial early-warning condition measuring and making sound decision.

Analysis of China's tobacco industry competition modes in the government monopoly environment

China is by far the largest producer of tobacco products in the world. As a big tax source, tobacco industry brings about 10%of China's annual income.At present tobacco industry is under the administrative monopoly management in China. The nation's policy and management mechanism greatly influence the competition structure of tobbacco industry. Due to the double character of tobacco, the country generally imposes a high tax and limits total product output in order to control the tobacco market. Therefore, the price signal of tobacco market is distorted and to a large extent the competition of the industry is far from a free one. The cigarette production is in a multi element competition style within the nation's planning system. In other words, administrative monopoly and over competition exist simultaneously in China's tobacco industry. The country predetermines the output quota of each cigarette manufacturing enterprise and the actual production outputs of these enterprises could be adjusted through the quota trades among them. The competition in tobacco industry is mainly represented in 3 modes, i.e.production output competition based on quota trades, value added competition in producing and marketing, and the niche market competition based on product classification.