Pampanga is the top tilapia-producing province in Philippines. One of its municipalities, Minalin, is considered as one of its major centers of production. This study aims to determine the impacts of climate change ha...Pampanga is the top tilapia-producing province in Philippines. One of its municipalities, Minalin, is considered as one of its major centers of production. This study aims to determine the impacts of climate change hazards on the economic performance of tilapia-intensive pond culture in Minalin, Pampanga considering the threats to the industry, livelihoods, and food security. Results revealed that the economic performance of tilapia pond operations using semi-intensive large-scale culture was affected by climate change, as reflected in the reduction of yield among tilapia pond operators. This makes intensive tilapia pond farming in Minalin still a viable venture but will now require more than a year to pay for investment (variable and fixed) costs if under climate change risks. The study recommends strengthening capacity building related to climate-smart tilapia farming technologies for pond operators and to implement appropriate technologies to address climate change risks.展开更多
Objective To study the impact of independent R&D and collaborative innovation on economic performance in the pharmaceutical industry.Methods A panel regression model was established by selecting the panel data of ...Objective To study the impact of independent R&D and collaborative innovation on economic performance in the pharmaceutical industry.Methods A panel regression model was established by selecting the panel data of China’s pharmaceutical industry from 2009 to 2019.Results and Conclusion Independent R&D and collaborative innovation of the pharmaceutical industry in eastern,central and western regions of China had a positive effect on economic performance.Besides,the promotion effect of independent R&D was greater than that of collaborative innovation.The positive driving effect of economic performance is the largest among the three regions,followed by the central and western regions.The collaborative innovation has the greatest positive effect on economic performance in the central region,followed by the eastern and western regions.展开更多
In this article,an approach for economic performance assessment of model predictive control(MPC) system is presented.The method builds on steady-state economic optimization techniques and uses the linear quadratic Gau...In this article,an approach for economic performance assessment of model predictive control(MPC) system is presented.The method builds on steady-state economic optimization techniques and uses the linear quadratic Gaussian(LQG) benchmark other than conventional minimum variance control(MVC) to estimate the potential of reduction in variance.The LQG control is a more practical performance benchmark compared to MVC for performance assessment since it considers input variance and output variance,and it thus provides a desired basis for determining the theoretical maximum economic benefit potential arising from variability reduction.Combining the LQG benchmark directly with benefit potential of MPC control system,both the economic benefit and the optimal operation condition can be obtained by solving the economic optimization problem.The proposed algorithm is illustrated by simulated example as well as application to economic performance assessment of an industrial model predictive control system.展开更多
Background:Saving and investment are two of the most important tools for economic growth.The interest rate has always been considered an important determinant of saving and investment.However,according to Islamic teac...Background:Saving and investment are two of the most important tools for economic growth.The interest rate has always been considered an important determinant of saving and investment.However,according to Islamic teachings,riba or earning interest on saving or investment is forbidden,and thus,many Muslims try to avoid earning income from the interest rate.Therefore,the aim of this study is to assess the effects of this religious guideline on the financial decisions of an Islamic country’s population and its impact on saving and investment.Methods:We applied the random effect and system generalized method of moments(GMM)model separately to data of 17 non-Islamic and 17 Islamic countries from 2005 to 2013.Results:The results suggest that people in Islamic countries are not concerned about the interest rate on saving,but in non-Islamic countries,the interest rate,per capita income,and inflation have significant positive impacts,and national expenditure has a significant negative impact on saving.However,in Islamic countries,remittances received and national expenditure have negative significant impacts,and per capita income has a positive significant impact on saving.In the case of investment,interest rate and inflation show a negative effect on investment while trade affects investment positively in both Islamic and non-Islamic countries.Furthermore,domestic credit provided by banks has a negative significant effect on investment in non-Islamic countries,while in Islamic countries,remittances show a positive significant impact on investment.Conclusions:The governments and policy makers of Islamic countries should not imitate the economic policies of non-Islamic countries because religious factors play an important role in the interest rate-saving relationship.Instead,they should increase per capita income by improving employment conditions and by reducing remittances received and national expenditure.Policies on saving should not allow earning interest.Furthermore,in order to increase investment,efforts should be made to lower the interest rate and inflation,and to enhance remittances received and trade.These policies will increase saving and investment in Islamic countries,ultimately resulting in improved economic growth.展开更多
Based on the methods of financial analysis, the direct earnings in mergers and acquisition M&A, profit or loss from stock price fluctuation, influence on the earning per stock(EPS) and revenue growth after M&A...Based on the methods of financial analysis, the direct earnings in mergers and acquisition M&A, profit or loss from stock price fluctuation, influence on the earning per stock(EPS) and revenue growth after M&A were analyzed in detail. And several quantitative models were established in relevant part accordingly. It can be useful to improve the present low efficiency in the M&A performance in Chinese capital market.展开更多
The production of safety food is an important foundation for establishing a Food Quality Safety Management System. The investigation focused on 11 kinds of safety food produced by 11 agricultural enterprises in Jiaxin...The production of safety food is an important foundation for establishing a Food Quality Safety Management System. The investigation focused on 11 kinds of safety food produced by 11 agricultural enterprises in Jiaxing, a part of the Yangtze River delta region in China. The economic performances of safety foods were also analyzed. The analysis showed that safety food production input was more than that of normal food and had different cost items compared to normal food. The rate of cost overflow was lower than the rate of comparative returns, resulting in the economic performance of safety food being higher than that of normal food. However, there were some problems, such as high quality without high prices. In the production of safety food, we will mainly pay attention to them.展开更多
This report is accomplished by China Textile Machinery and Accessories Association to be part of the Annual Report of China Textile Industry that comes out in the middle of the year.Given that all the official statist...This report is accomplished by China Textile Machinery and Accessories Association to be part of the Annual Report of China Textile Industry that comes out in the middle of the year.Given that all the official statistics are channeled to each industrial sector four times a year(March,May,Aug.Nov.) ,it comes as no surprise at all when an annual report is prepared at the beginning of the new year by taking eleven months into account because of the data availability from the government.This report of Chinese textile machinery industry is also based on the data attainable from Jan.to Nov.in 2009.展开更多
Chinese wool textile industry kept devel- oping smoothly, though RMB was rising in value and textile trade conflicts took place in succession. The whole industry increased but wool fabric’s market share shrank. Manuf...Chinese wool textile industry kept devel- oping smoothly, though RMB was rising in value and textile trade conflicts took place in succession. The whole industry increased but wool fabric’s market share shrank. Manufacture rose compared with last year. For the first three quarters, manufac- ture of wool yarn and wool fabric went up 4.9% and 16.1%展开更多
[Objectives]This study was conducted to study the effects of whole-plant corn silage and whole-plant wheat silage on growth performance and economic benefits of beef cattle.[Methods]Thirty Simmental crossbred cattle w...[Objectives]This study was conducted to study the effects of whole-plant corn silage and whole-plant wheat silage on growth performance and economic benefits of beef cattle.[Methods]Thirty Simmental crossbred cattle were selected and randomly divided based on their weight into two groups,15 cows in each group,with an average weight of 398 kg.Each group was fed the same concentrated feed,and the whole-plant corn silage and wheat silage were fed as roughage feed,respectively.The experimental period was 90 d.[Results](1)There was no significant difference in the initial weight of beef cattle between test group 1 and test group 2(P>0.05).Compared with group 2,group 1 had a higher final weight,average daily gain,and dry matter intake of beef cattle,without significant differences(P>0.05).Group 1 was 0.58%,1.99%,and 1.43%higher than group 2,respectively.The feed-to-gain ratio of test group 1 decreased by 0.54%compared with test group 2(P>0.05),with no significant difference therebetween.(2)The economic benefit of group 1 was 11.45 yuan/(day·capita),while the economic benefit of group 2 was 2.41 yuan/(day·capita),and group 1 was 9.04 yuan/(day·capita)higher than group 2.[Conclusions]Whole-plant corn silage for feeding beef cattle has the advantages of good weight gain and low breeding cost,and can be popularized in beef cattle fattening.展开更多
This paper examines total factor efficiency and productivity performance by taking into account local government debt (LGD) in 31 Chinese provincial regions for the period 2000-2013. The results show that neglecting...This paper examines total factor efficiency and productivity performance by taking into account local government debt (LGD) in 31 Chinese provincial regions for the period 2000-2013. The results show that neglecting LGD may overstate economic performance in Chinese provinces. The eastern region shows better performance in single jactor efficiency and total factor efficiency than the non-eastern regions. The western region shows the worst total factor performance. The north-eastern region is the only region that has experienced a decline in total factor performance. The state-dominated, investment- driven development model may help technological progress across Chinese regions but could lead to significant factor misallocation. We argue that biases towards more state- dominated investment and land supply in less productive western, central and north- eastern regions, at the expense of investment and land supply in more productive eastern regions, have contributed to the recent slowdown in economic growth in China. Therefore, .further market-oriented reforms in factor markets should be considered in the future.展开更多
Chinese sea perch(Lateolabrax Maculatus)is one of the main marine fish culture species in China,its green development has received increasing attention and its ecological economic study is rare.Based on field survey,t...Chinese sea perch(Lateolabrax Maculatus)is one of the main marine fish culture species in China,its green development has received increasing attention and its ecological economic study is rare.Based on field survey,this paper takes water pollution tax of China as conversion indicator for aquaculture eutrophication to simulate aquaculture waste fee for further analyzing the ecological impact of Chinese sea perch’s aquaculture.For data analysis,data envelopment analysis model has been used.The comparison for Chinese sea perch’s economic performance and ecological economic performance under its main aquaculture systems has been done.The results show that:1.The simulated waste fee has no significant impact for the comparison.2.Ranking for ecological economic performance’s ecological economic,technical and scale efficiency is as follow:pond farming,offshore cage culture and cage culture.3.Offshore cage culture is the only system presenting positive increase for ecological economic performance,which makes its aquaculture activity more sustainable than other systems.4.The key point of green development is to maximize the ecological economic efficiency of main aquaculture systems.Thus,offshore cage culture is the most sustainable aquaculture system among China’s current marine fish culture systems,and other systems need innovation for achieving the green development of China’s aquaculture.展开更多
What are the effects of weak economic performance in East and Southeast Asia?In particular,does weak performance lead to citizens'dissatisfaction and,correspondingly,increase preference for stronger govermments wh...What are the effects of weak economic performance in East and Southeast Asia?In particular,does weak performance lead to citizens'dissatisfaction and,correspondingly,increase preference for stronger govermments who may achieve economic targets more quickly?Recent elections in less democratic nations and emergent democracies of East and Southeast Asia suggest growing support for political parties carries over from previous authorities.And,governments are harking back to policies of the past that emphasise economic performance over political development in order to motivate political support.However,few studies system-atically assess how weak economic performance affects citizens'political support.This paper addresses this neglect.Using public opinion surveys from the Asian Barometer,we track how eco-nomic performance affects political support over time in countries with a multiparty system.The results offer two useful insights.First,economic performance is robustly and positively related to government approval.Thus,strong economic performan'e corre sponds with strong support for government while weak performance yields weak support.Importantly,this finding is consistent with the large amount of literature on economic voting.Second,economic performance is not consistently related to democratic support;instead,political influence plays an intervening role in how economic performance affects democratic support.This underlines the significance of institution-building for political stability and political development in the region.Equally important,the results tie to the literature on political institutionalisation and democratic support.In conjunction,the results embrace East and Southeast Asia into the broader disciplinary research of motivation theory-building and empirical studies.展开更多
Recently several countries and district have been experiencing economic reforms which lead to very different results, among them China, Poland, Bulgaria and North America. It is necessary to inspect how the enterprise...Recently several countries and district have been experiencing economic reforms which lead to very different results, among them China, Poland, Bulgaria and North America. It is necessary to inspect how the enterprise is running in these countries and what′s the difference between the enterprises from China and other countries. In this paper, an application of data envelopment analysis (DEA) for measuring and evaluating the economic operating efficiency of forty enterprises from four countries and district: China, Poland, Bulgaria and North America is presented. This non parametric method allows efficiency to be measured without having to specify either the form of the production function or the weights for the different inputs and outputs used. Furthermore, the correspondence evaluating results are analyzed.展开更多
The paper considers the relationships between financialisation and economic performance.Financialisation is a persistent feature of industrialised capitalism,the nature of which differs over time and space.The present...The paper considers the relationships between financialisation and economic performance.Financialisation is a persistent feature of industrialised capitalism,the nature of which differs over time and space.The present era of financialisation(since circa 1980)has been a world-wide phenomenon proceeding from different starting points and developing at different speeds,and can be viewed through the lens of variegated financialisation.The major features of the present era of financialisation are outlined.The increased scale of the financial sector leads to the issue of the relationship between financialisation and economic performance,and whether the additional resources used in the financial sector have been socially beneficial.The paper is completed by some brief remarks on the possibilities of de-financialisation.展开更多
In this study the authors analyse the possible effect of firms' economic conditions and financial performance on accounting quality. Bradshaw, et al. (2004), Gelos & WEI (2005) stated that financial reporting qu...In this study the authors analyse the possible effect of firms' economic conditions and financial performance on accounting quality. Bradshaw, et al. (2004), Gelos & WEI (2005) stated that financial reporting quality is fundamental for investors and it affects international capital movements. Following Schipper & Vicent (2003), the authors estimated accounting quality by abnormal accruals and earnings persistence. The authors' contribution consists of investigating a huge number of firms from 17 European countries using unbalanced panel data. The authors found evidence that economic conditions affect accounting quality: big firms and those with high current earnings exhibit better financial information. These results are robust because they do not depend on the accounting quality proxy, even when the authors estimated regression with economical and financial factors alone or together. Financial performance does not seem to affect accounting quality. However, this relation is not linear because in high leveraged firms, the capital structure becomes determinant.展开更多
Most listed Chinese firms engaged in the production and sale of garment have already announced their 2010 financial results. Here we performed an analysis of economic performance of these fi rms based on the data of t...Most listed Chinese firms engaged in the production and sale of garment have already announced their 2010 financial results. Here we performed an analysis of economic performance of these fi rms based on the data of their financial results.展开更多
文摘Pampanga is the top tilapia-producing province in Philippines. One of its municipalities, Minalin, is considered as one of its major centers of production. This study aims to determine the impacts of climate change hazards on the economic performance of tilapia-intensive pond culture in Minalin, Pampanga considering the threats to the industry, livelihoods, and food security. Results revealed that the economic performance of tilapia pond operations using semi-intensive large-scale culture was affected by climate change, as reflected in the reduction of yield among tilapia pond operators. This makes intensive tilapia pond farming in Minalin still a viable venture but will now require more than a year to pay for investment (variable and fixed) costs if under climate change risks. The study recommends strengthening capacity building related to climate-smart tilapia farming technologies for pond operators and to implement appropriate technologies to address climate change risks.
基金Research on the Innovation and Development Strategy of the Pharmaceutical Industry in Liaoning Province(No.2020lslktyb-095).
文摘Objective To study the impact of independent R&D and collaborative innovation on economic performance in the pharmaceutical industry.Methods A panel regression model was established by selecting the panel data of China’s pharmaceutical industry from 2009 to 2019.Results and Conclusion Independent R&D and collaborative innovation of the pharmaceutical industry in eastern,central and western regions of China had a positive effect on economic performance.Besides,the promotion effect of independent R&D was greater than that of collaborative innovation.The positive driving effect of economic performance is the largest among the three regions,followed by the central and western regions.The collaborative innovation has the greatest positive effect on economic performance in the central region,followed by the eastern and western regions.
基金Supported by the National Creative Research Groups Science Foundation of China (60421002) and National Basic Research Program of China (2007CB714000).
文摘In this article,an approach for economic performance assessment of model predictive control(MPC) system is presented.The method builds on steady-state economic optimization techniques and uses the linear quadratic Gaussian(LQG) benchmark other than conventional minimum variance control(MVC) to estimate the potential of reduction in variance.The LQG control is a more practical performance benchmark compared to MVC for performance assessment since it considers input variance and output variance,and it thus provides a desired basis for determining the theoretical maximum economic benefit potential arising from variability reduction.Combining the LQG benchmark directly with benefit potential of MPC control system,both the economic benefit and the optimal operation condition can be obtained by solving the economic optimization problem.The proposed algorithm is illustrated by simulated example as well as application to economic performance assessment of an industrial model predictive control system.
文摘Background:Saving and investment are two of the most important tools for economic growth.The interest rate has always been considered an important determinant of saving and investment.However,according to Islamic teachings,riba or earning interest on saving or investment is forbidden,and thus,many Muslims try to avoid earning income from the interest rate.Therefore,the aim of this study is to assess the effects of this religious guideline on the financial decisions of an Islamic country’s population and its impact on saving and investment.Methods:We applied the random effect and system generalized method of moments(GMM)model separately to data of 17 non-Islamic and 17 Islamic countries from 2005 to 2013.Results:The results suggest that people in Islamic countries are not concerned about the interest rate on saving,but in non-Islamic countries,the interest rate,per capita income,and inflation have significant positive impacts,and national expenditure has a significant negative impact on saving.However,in Islamic countries,remittances received and national expenditure have negative significant impacts,and per capita income has a positive significant impact on saving.In the case of investment,interest rate and inflation show a negative effect on investment while trade affects investment positively in both Islamic and non-Islamic countries.Furthermore,domestic credit provided by banks has a negative significant effect on investment in non-Islamic countries,while in Islamic countries,remittances show a positive significant impact on investment.Conclusions:The governments and policy makers of Islamic countries should not imitate the economic policies of non-Islamic countries because religious factors play an important role in the interest rate-saving relationship.Instead,they should increase per capita income by improving employment conditions and by reducing remittances received and national expenditure.Policies on saving should not allow earning interest.Furthermore,in order to increase investment,efforts should be made to lower the interest rate and inflation,and to enhance remittances received and trade.These policies will increase saving and investment in Islamic countries,ultimately resulting in improved economic growth.
文摘Based on the methods of financial analysis, the direct earnings in mergers and acquisition M&A, profit or loss from stock price fluctuation, influence on the earning per stock(EPS) and revenue growth after M&A were analyzed in detail. And several quantitative models were established in relevant part accordingly. It can be useful to improve the present low efficiency in the M&A performance in Chinese capital market.
文摘The production of safety food is an important foundation for establishing a Food Quality Safety Management System. The investigation focused on 11 kinds of safety food produced by 11 agricultural enterprises in Jiaxing, a part of the Yangtze River delta region in China. The economic performances of safety foods were also analyzed. The analysis showed that safety food production input was more than that of normal food and had different cost items compared to normal food. The rate of cost overflow was lower than the rate of comparative returns, resulting in the economic performance of safety food being higher than that of normal food. However, there were some problems, such as high quality without high prices. In the production of safety food, we will mainly pay attention to them.
文摘This report is accomplished by China Textile Machinery and Accessories Association to be part of the Annual Report of China Textile Industry that comes out in the middle of the year.Given that all the official statistics are channeled to each industrial sector four times a year(March,May,Aug.Nov.) ,it comes as no surprise at all when an annual report is prepared at the beginning of the new year by taking eleven months into account because of the data availability from the government.This report of Chinese textile machinery industry is also based on the data attainable from Jan.to Nov.in 2009.
文摘Chinese wool textile industry kept devel- oping smoothly, though RMB was rising in value and textile trade conflicts took place in succession. The whole industry increased but wool fabric’s market share shrank. Manufacture rose compared with last year. For the first three quarters, manufac- ture of wool yarn and wool fabric went up 4.9% and 16.1%
基金Supported by The Fourth Batch of High-end Talent Project in Hebei ProvinceHebei Provincial Science and Technology Innovation Leading Talents(21130243A)。
文摘[Objectives]This study was conducted to study the effects of whole-plant corn silage and whole-plant wheat silage on growth performance and economic benefits of beef cattle.[Methods]Thirty Simmental crossbred cattle were selected and randomly divided based on their weight into two groups,15 cows in each group,with an average weight of 398 kg.Each group was fed the same concentrated feed,and the whole-plant corn silage and wheat silage were fed as roughage feed,respectively.The experimental period was 90 d.[Results](1)There was no significant difference in the initial weight of beef cattle between test group 1 and test group 2(P>0.05).Compared with group 2,group 1 had a higher final weight,average daily gain,and dry matter intake of beef cattle,without significant differences(P>0.05).Group 1 was 0.58%,1.99%,and 1.43%higher than group 2,respectively.The feed-to-gain ratio of test group 1 decreased by 0.54%compared with test group 2(P>0.05),with no significant difference therebetween.(2)The economic benefit of group 1 was 11.45 yuan/(day·capita),while the economic benefit of group 2 was 2.41 yuan/(day·capita),and group 1 was 9.04 yuan/(day·capita)higher than group 2.[Conclusions]Whole-plant corn silage for feeding beef cattle has the advantages of good weight gain and low breeding cost,and can be popularized in beef cattle fattening.
文摘This paper examines total factor efficiency and productivity performance by taking into account local government debt (LGD) in 31 Chinese provincial regions for the period 2000-2013. The results show that neglecting LGD may overstate economic performance in Chinese provinces. The eastern region shows better performance in single jactor efficiency and total factor efficiency than the non-eastern regions. The western region shows the worst total factor performance. The north-eastern region is the only region that has experienced a decline in total factor performance. The state-dominated, investment- driven development model may help technological progress across Chinese regions but could lead to significant factor misallocation. We argue that biases towards more state- dominated investment and land supply in less productive western, central and north- eastern regions, at the expense of investment and land supply in more productive eastern regions, have contributed to the recent slowdown in economic growth in China. Therefore, .further market-oriented reforms in factor markets should be considered in the future.
文摘Chinese sea perch(Lateolabrax Maculatus)is one of the main marine fish culture species in China,its green development has received increasing attention and its ecological economic study is rare.Based on field survey,this paper takes water pollution tax of China as conversion indicator for aquaculture eutrophication to simulate aquaculture waste fee for further analyzing the ecological impact of Chinese sea perch’s aquaculture.For data analysis,data envelopment analysis model has been used.The comparison for Chinese sea perch’s economic performance and ecological economic performance under its main aquaculture systems has been done.The results show that:1.The simulated waste fee has no significant impact for the comparison.2.Ranking for ecological economic performance’s ecological economic,technical and scale efficiency is as follow:pond farming,offshore cage culture and cage culture.3.Offshore cage culture is the only system presenting positive increase for ecological economic performance,which makes its aquaculture activity more sustainable than other systems.4.The key point of green development is to maximize the ecological economic efficiency of main aquaculture systems.Thus,offshore cage culture is the most sustainable aquaculture system among China’s current marine fish culture systems,and other systems need innovation for achieving the green development of China’s aquaculture.
基金the National Research Foundation of Korea[NRF-2015S1A3A2047036].
文摘What are the effects of weak economic performance in East and Southeast Asia?In particular,does weak performance lead to citizens'dissatisfaction and,correspondingly,increase preference for stronger govermments who may achieve economic targets more quickly?Recent elections in less democratic nations and emergent democracies of East and Southeast Asia suggest growing support for political parties carries over from previous authorities.And,governments are harking back to policies of the past that emphasise economic performance over political development in order to motivate political support.However,few studies system-atically assess how weak economic performance affects citizens'political support.This paper addresses this neglect.Using public opinion surveys from the Asian Barometer,we track how eco-nomic performance affects political support over time in countries with a multiparty system.The results offer two useful insights.First,economic performance is robustly and positively related to government approval.Thus,strong economic performan'e corre sponds with strong support for government while weak performance yields weak support.Importantly,this finding is consistent with the large amount of literature on economic voting.Second,economic performance is not consistently related to democratic support;instead,political influence plays an intervening role in how economic performance affects democratic support.This underlines the significance of institution-building for political stability and political development in the region.Equally important,the results tie to the literature on political institutionalisation and democratic support.In conjunction,the results embrace East and Southeast Asia into the broader disciplinary research of motivation theory-building and empirical studies.
基金:Supported by National Natural Science foundation of China ( No.79770 1 0 3
文摘Recently several countries and district have been experiencing economic reforms which lead to very different results, among them China, Poland, Bulgaria and North America. It is necessary to inspect how the enterprise is running in these countries and what′s the difference between the enterprises from China and other countries. In this paper, an application of data envelopment analysis (DEA) for measuring and evaluating the economic operating efficiency of forty enterprises from four countries and district: China, Poland, Bulgaria and North America is presented. This non parametric method allows efficiency to be measured without having to specify either the form of the production function or the weights for the different inputs and outputs used. Furthermore, the correspondence evaluating results are analyzed.
基金This paper draws on the results of research undertaken within the project Financialisation,Economy,Society and Sustainable Development(FESSUD)which received funding from the European Union Seventh Framework Programme(FP7/2007-2013)under grant agreement no.266800 and for which I am the principal investigator.
文摘The paper considers the relationships between financialisation and economic performance.Financialisation is a persistent feature of industrialised capitalism,the nature of which differs over time and space.The present era of financialisation(since circa 1980)has been a world-wide phenomenon proceeding from different starting points and developing at different speeds,and can be viewed through the lens of variegated financialisation.The major features of the present era of financialisation are outlined.The increased scale of the financial sector leads to the issue of the relationship between financialisation and economic performance,and whether the additional resources used in the financial sector have been socially beneficial.The paper is completed by some brief remarks on the possibilities of de-financialisation.
文摘In this study the authors analyse the possible effect of firms' economic conditions and financial performance on accounting quality. Bradshaw, et al. (2004), Gelos & WEI (2005) stated that financial reporting quality is fundamental for investors and it affects international capital movements. Following Schipper & Vicent (2003), the authors estimated accounting quality by abnormal accruals and earnings persistence. The authors' contribution consists of investigating a huge number of firms from 17 European countries using unbalanced panel data. The authors found evidence that economic conditions affect accounting quality: big firms and those with high current earnings exhibit better financial information. These results are robust because they do not depend on the accounting quality proxy, even when the authors estimated regression with economical and financial factors alone or together. Financial performance does not seem to affect accounting quality. However, this relation is not linear because in high leveraged firms, the capital structure becomes determinant.
文摘Most listed Chinese firms engaged in the production and sale of garment have already announced their 2010 financial results. Here we performed an analysis of economic performance of these fi rms based on the data of their financial results.