中国近代前期的房地产经营——以徐润(1838—1911)的房地产生涯为例

徐润(1838—1911)是中国近代房地产史上的一位重要人物。本文以《清徐雨之先生润自叙年谱》为主要史料,结合与徐润往来频繁人等的文集记述及当时的报刊资料,讨论徐润的房地产经营从1863年起步到1883年极盛和破产、之后慢慢恢复、东山再起的历史,在此基础上探讨中国近代前期房地产经营的兴趣、动机、环境、融资方式、空间范围、组织形式等。在以往学者从行业角度对近代中国房地产业进行整体性考察的基础上,从单个房地产商的经营生涯入手,提供了一个观察近代中国房地产商业史的微观视角。

中国城市房地产业史回溯

当代中国的房地产市场正成为最富吸引力的投资热点;对城市土地经济运行规律的探索,也已成为今日经济理论界的前沿课题。在这样的时候,人们往往急于寻找“他山之石”,却忽略了上个世纪中叶就开始起步的中国房地产业自身积累的历史经验。 这是一段鲜为人知的行业史。正是在1840——1949年这长达一个世纪的时间里,中国沿海沿江城市崛起的近代房地产业,带动和促成了封建的土地制度向近代资本主义城市土地使用制度的转变,奠定了中国城市化最初的物质基础。

中国城市房地产业史回溯(二)

第二章 房地产业的黄金时代 经历了19世纪后半叶的初兴与20世纪初期的短暂的起飞阶段后,到本世纪20—30年代,中国房地产业步入了自己的黄金时代。 首先,社会经济的增长奠定了房地产业在各城市普遍发展的坚实基础。本世纪20—30年代,或者说在两次世界大战之间这段时期,虽有30年代初期世界性经济危机的波及,但从整体上看,中国资本主义经济成份有了明显的增长,工业化已经起步,是中国近代经济史上发展最快的时期。这一大背景,构成了房地产业大发展的根本因素。 其次,这一时期也是近代中国社会急剧动荡,局面十分复杂的阶段,致使各地房地产业的发展形成不同的特点。例如贸易关系的转变。

犹太哈同经营地产的诀窍

长袖善舞的"犹太老手" 最近,来自美国的朋友告诉我:2002年10月4日,洛杉矶加州大学北岭图书馆,举行一次盛大宴会,赴宴者都是六、七十岁以上的犹太老人,他们分居在世界各地,都曾经在三、四十年代的上海生活和工作过.他们在上海有一段难忘的经历,也是各行各业的创业者和成功者,对上海有过贡献.人们称他们为"中国老手"(Old China Hands),他们也以此自豪.

Fair Valuation Issues and the Subprime Mortgage Debacle： Could Generally Accepted Accounting Principles Underlying the Historical Cost Method Have Prevented the Crisis？

There are three primary methodologies employed to determine real estate value in the appraisal industry： the cost approach, the sales approach and the income approach. The definition of market value is defined as： ＂a type of value, stated as an opinion that includes a set of assumptions concerning the market＂. Unfortunately, untrained and unlicensed appraisers provided opinions using primarily the sales approach or market data approach and virtually ignored the other two methodologies. The ensuing game of ＂Can You Top This＂ resulted in creating an out-of-control real estate market driven by unregulated fiduciaries as appraisers.

Financial Statement Valuations in Italian Accounting Thought Between the 19th and the 20th Century： From ＂Exchange Value＂ to ＂Historical Cost＂

The main subject of this paper is the theory of financial statement valuations observed in its historical development. More notably, regarding the subject, the research is concerned with some theoretical concepts developed by the Italian doctrine in a very specific age, namely, between the 19th and the 20th century, which in fact, devoid of any accounting regulation. This paper analyzes in particular the shift from the exchange value rule to the historical cost method and tries to explain the reasons of such a development. In the second half of the 19th century, some of the best Italian scholars, who were faced with the need to properly develop the problem of accounting valuations, thought that it was appropriate to rely on concepts that belonged to similar sciences, such as economics and real estate appraisal, by blindly borrowing the theory of value from the former and the theory of valuations from the latter. During that age, everything hinged around the concept of exchange value. At the dawn of the 20th century, the Italian accounting doctrine began to wonder about a subject that was crucial to the financial statement theory： the informative purposes underlying the financial statements. At the same time, the first principle took shape, which might be called as the ＂finalistic principle of value＂. It is still the basis of the theory of financial accounting measurements, for which different evaluative criteria must be applied to different informative purposes. Thus, an alternative criterion to that of the exchange value makes its appearance on the scene of the accounting valuations, notably the historical cost. The introduction of the historical cost criteria and above all the relinquishment of the combination of the ＂economic cost＂ in favor of that of the ＂manufacturing cost＂ allow the Italian accounting to get rid of the theories of economics and real estate appraisal, thus, becoming independent regarding the financial statement valuations.