试论企业“亚健康”状态的会计控制

医学领域把"亚健康"理论的提出称为人类认知的一场革命。将此概念引入企业范畴,可以引起管理者、投资者及企业其他利益相关者对企业的该种状态的重视,避免企业滑向破产、清算的窘境;更重要的是还可趋利避害,使企业保持可持续发展的良好状态。

企业“亚健康”状态下的会计政策选择

医学领域把“亚健康”状态称为人类认知的一场革命,将此概念引入企业范围,从而引起管理者、投资者及企业其他利益相关者重视企业的该种状态,避免企业滑向破产、清算的深渊,更重要的是趋利避害,使企业处于可持续经营的良好状态。

谁有资格得到风险投资

风险投资者特别偏爱那些在高技术领域具有领先优势的公司，比如软件、药品、通信技术领域。如果风险企业家能有一项受保护的先进技术或产品，那么他的企业就会引起风险投资公司更大的兴趣。这是因为高技术行业本身就有很高的利润，而领先的或受保护的高技术产品／服务更可以使风险企业很容易地进入市场。

Small and Medium Enterprises Environment Case of Albania

Small and Medium Enterprises （SMEs） play an important role in all economies and are key generators of employment, earnings, and economic growth stimulators. In Albania, small and medium enterprises represent 99.6 percent of all registered business entities and are the main source in providing employment （Enhancing SME Development in Albania： A Study on Macro-Financial Soundness Indicators, 2011）. The aim of this study is to give a short description on the situation of the small and medium enterprises in Albania, giving more focus on the problem faced and the role of the Albanian government on this process. A descriptive analysis is carried out using secondary sources. This study will be a reference for any future study that will be focused on the identification and assessment of factors affecting the SME＇s performance and the examination of relationship between fmancial institutions and SMEs growth.

An Enquiry Into the Responsiveness of Corporate Profitability to Corporate Governance Mechanism＂ Evidences From Malaysian Government-Linked Companies （GLCs）

Realizing the importance of corporate governance, many governments have embarked upon various initiatives. In Malaysia, the recently introduced Green Book program aims to strengthen the corporate governance among the government-linked companies （GLCs）, in view of their significant contributions to the national socio-economic development. The Green Book initiative, launched in 2005, contains, among other things, a provision to create a high-performing board. Performance of GLCs, therefore, is likely to scale better heights with the modification of the constitution of the boards. The present paper aims to examine the association between the selected corporate governance attributes and performance of GLCs in 2010, approximately five years since the implementation of the transformation program. The regression analysis reveals that none of the selected corporate governance indicators has significantly impacted the performance of GLCs. The findings serve as a wake-up call to the authorities to appraise the effectiveness of the transformation program in enhancing the performance of GLCs.

Legal Framework of Shari＇ah Corporations in Malaysia： Special Reference to Waqf Corporation

In Malaysia, the Islamic commercial institutions were established under respective legislations which contain express term on their status as a body corporate. Examples of these institutions are Islamic banks, zakah institutions, Pilgrimage Board and Islamic insurance （takaful） companies. In 1998, Johor Corporation （JCorp） initiated a corporate waqf entity known as Waqaf An-Nur Corporation Berhad （WANCorp）. In 2011, Majlis Agama Islam Wilayah Persekutuan （MAIWP） collaborated with Tabung Haji to develop a Class AWaqf building leased to Bank Islam Malaysia Berhad （BIMB）. The developments in waqf involving corporate entities are worth to be analyzed in order to create a new framework of waqf practice. This paper deliberated the attributes of corporations under the Malaysian law and compares them with the principles of Islamic law （Shari＇ah）. For the purpose of discussion, this paper refers to WANCorp and Awqaf Holdings as examples ofwaqf corporations in Malaysia.

Implications of a Crisis on Small Businesses in the European Union and Republic of Croatia

Until the early 1990s Croatia has been neglecting, and even underestimating the significance, the role, the needs, and the results of small businesses （small and medium entrepreneurship）. Complete attention was focused on big companies. Relatively late, in 2002, small businesses, within the statutory legislation, have gotten its appropriate legal status and economic relevance. Today it is treated as a ＂basic necessity＂ of every society and a generator of economic development. But, economic crisis that has been present since 2008 has manifested all of its negativities, which has reflected on the present state of the economy, the whole society, and it is also shown from the results and some relevant indicators.

Development of Competitive Advantage in Apparel Industry in Kenya

The Kenyan apparel industry has played a major role in the country＇s economic development; however the sector＇s competitiveness has decreased due to inadequate industrial strategy and loss of global markets resulting from elimination of quotas in 2005. China and other Asian countries＇ ability to produce quality products efficiently at lower comparative costs has been threatening apparel manufacturers in most developing countries in Africa. The purpose of this study is to analyse Kenya＇s apparel industry＇s current situation and to recommend some strategies for regaining business competitiveness in the apparel sector. This paper examines how apparel firms could develop competitive advantages in both local and global markets. It uses Porter＇s diamond and business value chain models as a basis of analysis for interpreting competitive factors within Kenya＇s apparel industry. In addition to extensive literature reviews, the paper provides in-depth overview of Kenya＇s apparel sector business dynamics and its relationships with local and global markets. Conclusions are drawn based on the analyses of Porter＇s theoretical models in relationship to Kenya＇s apparel industry business dynamics. Taking into account the global apparel business factors, recommendations are made on how the Kenya＇s apparel industry can regain business competitiveness.

Entrepreneurship and Growth in Emerging Mini-dragon Economies： A South-East Asia Perspective

Entrepreneurship and growth are driving forces in the development of emerging economic systems. In this exploratory study we discuss emerging economies within a South-East Asia context. In particular, we expand on a previous study on the East Asian Tiger economies, and introduce the mini-dragon economies of Indonesia, Malaysia, Thailand, and Philippines. We explore the role of various economic indicators and indices entrepreneurship and SMEs as drivers of growth in these emerging economies. Growth factors unique to the region are also identified, and institutional and government interventions are recommended. Furthermore, we elaborate on the interdependence of the entire region on each of the mini-dragon economies. Since we have highlighted only a few of the emerging economies in the region, opportunities exist to expand the base for further study

SMEs Access to Financial Services： Bankers＇ Eye

This paper reports Tanzanian bankers＇ reasons for not giving SMEs the amount they request as loans to finance their businesses. Open ended interviews were used to collect primary data from eight interviews in six commercial banks that serve SMEs and which have been in operation for more than five years. Secondary data was obtained from different documents like World Bank reports, brochures and websites of visited banks to mention the few. Findings show that sectors which are perceived as too risky by banks, poor documentation by borrowers which make banks unable to assess their creditworthiness, lack of understanding by SMEs themselves as to why they are doing businesses they do, lack or very limited knowledge on financial management by SMEs, lack of awareness of different products offered by different banks, stagnant businesses as well as lack of proper securitiries to cover their loans are reasons behind banks reluctant to provide loans to SMEs. Findings clearly show that it is still difficult for new SMEs to access finance from banks in Tanzania. It is critical for existing SMEs to put their houses in order to the level that is acceptable by banks if they need to approach banks for loans. Banks in Tanzania need to review their policies on the maximum amount of loans to SMEs to reflect the market demands. At the moment, new SMEs should not have much hope of getting finance assistance from most banks. Further, training institutions should continue educating SMEs on relevant aspect that are important to lenders and lastly, the government should consider providing guarantee to SMEs sectors that are perceived as too risky by banks just like the ongoing initiatives in the agriculture sector.

Corporate governance mechanisms and performance： Analysis of Malaysian family and non-family controlled companies

Most study concentrating on family and non-family companies is conducted overseas with little research carried out in Malaysia. This study examined the impact of corporate governance mechanisms on family and non-family controlled companies＇ performance. The sample size of this study is 730 companies listed on Bursa Malaysia from 2003 to 2007. The findings reveal that corporate governance mechanisms influence the family and non-family controlled companies＇ performance. But not all corporate governance mechanisms are significant. The significant variables differ between family and non-family controlled companies. Thus, regulators need to be vigilant that family and non-family controlled companies practise differently and to set different code needed for each type of families.

An Instrument Variable Model of the Impact of Financing Decisions on Performance of Small Businesses in Australia＇s Pre-global Financial Crisis

Firm level empirical research on the impact of financing decisions on small business performance is scarce in the Australian context. This study adopts an instrument variable （IV） approach to analyze the impact of financing decisions, in particular, equity or debt are obtained, on the performance of small businesses by using the panel data from Australian Bureau of Statistics （ABS） Business Longitudinal Database （BLD） 2004-2005, 2005-2006, and 2006-2007. Performance variables, i.e., sales and expenditure, are used as dependent variables. Equity and debt obtained are used as independent variables （or known as treatments）. IV includes size of the business, age of the business, number of locations, and industry division etc.. The results from IV modeling outperformed those obtained from OLS （Ordinary Least Squares）. Findings include： （1） financing has significantly positive impacts on the performance of small businesses in Australia; （2） equity and debt financing are used as alternatives, comparatively, equity financing is preferred; （3） capital purchases are largely funded by debt financing, while non-capital purchases and salary expenses are funded by equity financing; and （4） equity financing is more often used by firms with increasing capital purchases and declining non-capital purchases, while debt financing is used by firms with the opposite trends. The paper concludes with a discussion of the limitations of this research and future research＇s directions.

Change of Management Values in Estonian Business Life in 2007-2009

The paper deals with the change of management values in Estonian business life in the year of the rapid growth （2007） as compared with the year of hard decline （2009）. The hypothesis is set that company managers do not have permanent values but they change accordingly to the change in economic conditions： in economical welfare situations business-managers more eagerly take larger responsibilities on ethical and philantrophical stages but in crisis only the lower stages （economical and legal ones） could be detained. In the paper, we firstly observe if values change in general and secondly we study if our pre-stated hypothesis holds. As the research method we use the method of critical incidents

The Impact of Nationalisation on CSR Policy in Citadele Bank and CR Study of the Latvian Retail Banking Sector

The present research paper is dedicated to the analysis of the impact of nationalisation on Corporate Social Responsibility （CSR） Policy in Citadele bank （formerly Parex） and Corporate Responsibility （CR） study of the Latvian banking sector. The goal is to analyse the notion of nationalisation, the history of Citadele bank, and to scrutinise CSR policy and its aspects. Research aim is to explore the impact of CSR activities implemented by Citadele on customers＇ views after the nationalisation of the bank. The research methodology involves the analysis of the existing theoretical literature and a quantitative research method-survey conducted by an international research agency. The article also explores CSR activities of commercial banks in Latvia by applying the comparative method of research.

Determinants of Financial Reporting Quality： An In-Depth Study o f Firm Structure

This paper examines the effects of firm structure on the financial reporting quality of Nigerian-quoted manufacturing firms by using assets, the leverage, the share dispersion, and the residuals of the modified Edward Bell Ohlson （EBO） model as proxies of firm structure and the financial reporting quality respectively. The data are extracted from 12 sample firms representing 50% （as the population of the study） of all the quoted manufacturing companies in Nigeria. A multiple regression is used as a tool of analysis for the study. The result reveals a strongly positive relationship between the firm structure and the financial reporting quality of the quoted manufacturing firms in Nigeria. Therefore, it is recommended among others that the regulators should enforce more on the financial statement disclosure and transparency among companies quoted on the Nigerian Stock Exchange （NSE）, in order to ensure a higher quality of the financial reporting

Competition in Marketing： Survival Yardstick for Small and Medium Enterprises （SMEs） in Nigeria

The topic investigated competition in marketing as a survival yardstick for small and medium enterprises （SMEs） in Nigeria. The objectives addressed by this study were： （1） identifying different types and intensity of competition that SMEs are exposed to along the life-cycle portfolio in Nigeria; （2） quantifying the strength of SMEs vis-a-vis some foreign enterprises in terms of market competition; and （3） proffering solutions on how best they could match competitively these foreign enterprises. Relevant models and theories were employed in literature to evolve detailed analysis of issues relating to the variables used in terms of competition in marketing and survival of juice-producing SMEs. Two hypotheses were investigated through the survey of 20 prominent Ikeja based SMEs using Cluster sampling, 5-points Likert summated rating scale was adopted, while Yard＇s formula with 95% confidence level and 5% error tolerance was used. Alternative form validity of the instrument was measured at 0.63 while its reliability was measured at Cronbach＇s alpha of 0.70. Pearson＇s product-moment correlation was used in testing hypothesis 1 while standard multiple regressions were used to test hypothesis 2. Findings revealed that there was strong relationship between survival of juice-producing SMEs with forms of competition on a firm＇s life-cycle; while competition had positive effects on survival components for the enterprises. It was concluded that since competition subsists in any firm＇s life-cycle, strategies to support operations for survival must be adopted. It was recommended that operators of SMEs have to monitor and manage competition as it affects their businesses positively and/or negatively.

Chongqing Sino-Australia Waterproof Material Co,Ltd

China West International Holdings Limited is an Australian listed company.It specialized in in- dustrial investments in construction materials,energy development,infrastructure,etc.At present, China West International Holdings Limited wholly controls Yuan Construction and sale of common Portland cement,limestone mining,etc.,also controls advanced technology companies.Wholly owns Chongqing Sino-Australia Waterproof Material Co.,Ltd.

Determinants of Capital Structure in the Nigerian Listed Insurance Firms

The paper investigates the determinants of capital structure in Nigerian listed insurance firms using data obtained from annual report of the sampled firms for the period of 2001-2010. It used five explanatory variables to measure their effects on debt ratio. Multiple regression is employed as a tool of analysis. The result reveals that all the explanatory variables have statistically and significantly influenced the explained variable. The results approve the prediction of pecking order theory in the case of profitability and trade-off theory in case of tangibility variables. The growth variable supports the agency theory hypothesis whereas size variable confirms to the asymmetry of information theory. It is therefore recommended that the management of listed insurance firms in Nigeria should always consider their positions using these capital structure determinants as important inputs before embarking on debt financing decision.

Audit Committee Attributes on Audit Fees： The Impact of Malaysian Code of Corporate Governance （MCCG） 2007

The evolution of corporate governance has created a competitive environment among the companies to catch the attention of investor＇s confidence. This paper aims to examine the relationship between the audit committee attributes and the audit fees. Specifically, this paper aims to examine the effects of audit committee expertise （number of financial-related director＇s trainings and experience） on audit fees. The data are obtained from annual reports of the population of Bursa Malaysia listed companies for both Main and Ace markets in year 2008. The results show that audit committee size is significant and has a positive association with audit fees. However, audit committee＇s financial related training is significant and has a negative association with audit fees. These results suggest that financial training of audit committee could have an impact on the lower audit fees. However, audit committee expertise is significant and has a positive association with audit fees. This suggests that financial-related training is needed in order to enhance the expertise of audit committee members.

Simulation Models for Evaluation and Selection of Depreciation Policy for Agricultural Companies in the Republic of Bulgaria

In the present paper, the results from research on the influence of criteria （factors） such as depreciation method, materiality threshold, and inflation rate on the selection of depreciation policy are shown. The research has been carried out with the help of specifically devised simulation models. The simulation is realized in accounting for the unevenness of money in time and the profitability of the company, the tax rates for corporate tax, and the inflation rate. The models have been devised after analyzing methodology issues, related to depreciation policy and investigating current practices in its implementation in specific agricultural companies in present-day Bulgaria. It has been determined that there is a clear-cut relation between the profitability of the companies and the materiality threshold and depreciation method chosen. The main conclusion is that when the companies develop their depreciation policy, at ceteris paribus they should select higher materiality thresholds and diminishing balance depreciation methods due to the inequality of money in time, the acceleration of obsolescence, and the inflation processes.