This article introduces the different development stages of reference materials （RMs） in China to illustrate their evolutionary course, describing their present situation and devel- opment trends, and proposing new ...This article introduces the different development stages of reference materials （RMs） in China to illustrate their evolutionary course, describing their present situation and devel- opment trends, and proposing new working areas and priorities.展开更多
The topic of the paper is the estimate of the benefit of control, according to the Barclay and Holderness method. The reference system of this research is Italy, given that the empirical evidence of the past which had...The topic of the paper is the estimate of the benefit of control, according to the Barclay and Holderness method. The reference system of this research is Italy, given that the empirical evidence of the past which had underlined private benefits particularly high among Italian companies and the reference period is 1999-2007. The idea of this research is to demonstrate that, since the Legislative Decree No. 58 of February 24, 1998 （Consolidated Law on Finance, henceforth Consolidated Law）, which has significantly changed the protection of minority shareholders, in Italian, the intensity of private benefits has on average declined sharply. To this end, considering the results of the empirical researches on periods pre-1998 and at the turn of the Consolidated Law, the paper provides evidence that the improvement of minority shareholder protection already shown by these researches is further accentuated over the years, because of the effects that the new regulatory framework has produced. In fact, the basic assumption is that the important laws, as Consolidate Law, require several years to produce the desired results in full. This idea is supported by the findings of research that show an average percentage of private benefits dropped to five percent of the capital. Hence, the investigation is extended to the demonstration of comparability of this estimation with other estimations quoted in literature, verifying the statistical significance of the correlations between the measures estimated and the variables considered as determinants in much of the literature.展开更多
One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is t...One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is to present the results of the author＇s empirical research concerning the usefulness of the estimates in the valuation of fixed assets held by the enterprises facing bankruptcy. The empirical research was carried out on a group of 100 companies on which courts declared bankruptcy in 2011 in Poland. The study sample constitutes 14% of the population and is a significant representation of the phenomenon. For comparisons of the carrying amounts and the estimated values, the assets recognized in the balance sheet under ＂property, plant, and equipment （PPE）＂ were selected. During the first stage of the research, the significance of PPE in bankruptcy proceedings was confirmed by comparing the share of their value within the estate with the costs of the proceedings recorded as a percentage of the value of the debtor＇s estate. In the next stage of the research, comparisons between the carrying amounts and the estimated values were made. Simple regression models were constructed. The research results confirm that in the case of a substantial doubt about an entity＇s ability to continue as a going concern, the informative value of financial statements is limited and the estimates of the fixed assets value are of fundamental importance.展开更多
Using an international reference ionosphere(IRI)model as a background ionosphere and applying the Kalman filter to update the state with observations,we develop an ionosphere data assimilation analysis system(IDAAS)to...Using an international reference ionosphere(IRI)model as a background ionosphere and applying the Kalman filter to update the state with observations,we develop an ionosphere data assimilation analysis system(IDAAS)to reconstruct a three-dimensional(3D)ionosphere with the GPS slant TEC and ionosonde data over east-south Asia.The preliminary results with the GPS data collected over east-south Asia on 30 June 2005 showed that inversed slant TEC has very good correlation with the observations both for the GPS sites being and not being involved in reconstruction.The inversed NmF2 and vertical TEC both demonstrate great improvement of agreement with those observed from ionosondes and TOPEX satellite independently.展开更多
文摘This article introduces the different development stages of reference materials （RMs） in China to illustrate their evolutionary course, describing their present situation and devel- opment trends, and proposing new working areas and priorities.
文摘The topic of the paper is the estimate of the benefit of control, according to the Barclay and Holderness method. The reference system of this research is Italy, given that the empirical evidence of the past which had underlined private benefits particularly high among Italian companies and the reference period is 1999-2007. The idea of this research is to demonstrate that, since the Legislative Decree No. 58 of February 24, 1998 （Consolidated Law on Finance, henceforth Consolidated Law）, which has significantly changed the protection of minority shareholders, in Italian, the intensity of private benefits has on average declined sharply. To this end, considering the results of the empirical researches on periods pre-1998 and at the turn of the Consolidated Law, the paper provides evidence that the improvement of minority shareholder protection already shown by these researches is further accentuated over the years, because of the effects that the new regulatory framework has produced. In fact, the basic assumption is that the important laws, as Consolidate Law, require several years to produce the desired results in full. This idea is supported by the findings of research that show an average percentage of private benefits dropped to five percent of the capital. Hence, the investigation is extended to the demonstration of comparability of this estimation with other estimations quoted in literature, verifying the statistical significance of the correlations between the measures estimated and the variables considered as determinants in much of the literature.
文摘One of the most important issues relating to the economic activity of an enterprise is a reliable valuation of assets. It is also one of the key elements in the condition of bankruptcy risk. The aim of this paper is to present the results of the author＇s empirical research concerning the usefulness of the estimates in the valuation of fixed assets held by the enterprises facing bankruptcy. The empirical research was carried out on a group of 100 companies on which courts declared bankruptcy in 2011 in Poland. The study sample constitutes 14% of the population and is a significant representation of the phenomenon. For comparisons of the carrying amounts and the estimated values, the assets recognized in the balance sheet under ＂property, plant, and equipment （PPE）＂ were selected. During the first stage of the research, the significance of PPE in bankruptcy proceedings was confirmed by comparing the share of their value within the estate with the costs of the proceedings recorded as a percentage of the value of the debtor＇s estate. In the next stage of the research, comparisons between the carrying amounts and the estimated values were made. Simple regression models were constructed. The research results confirm that in the case of a substantial doubt about an entity＇s ability to continue as a going concern, the informative value of financial statements is limited and the estimates of the fixed assets value are of fundamental importance.
基金supported by the National Natural Science Foundation of China(Grant Nos.41274159 and 40974094)the Special Scientific Research Fund of Meteorological Public Welfare Profession of China(Grant No.GYHY201106012)
文摘Using an international reference ionosphere(IRI)model as a background ionosphere and applying the Kalman filter to update the state with observations,we develop an ionosphere data assimilation analysis system(IDAAS)to reconstruct a three-dimensional(3D)ionosphere with the GPS slant TEC and ionosonde data over east-south Asia.The preliminary results with the GPS data collected over east-south Asia on 30 June 2005 showed that inversed slant TEC has very good correlation with the observations both for the GPS sites being and not being involved in reconstruction.The inversed NmF2 and vertical TEC both demonstrate great improvement of agreement with those observed from ionosondes and TOPEX satellite independently.
