我国居民储蓄-投资转化效率的实证分析

完整的居民储蓄-投资转化效率应该包括资本形成效率和资本形成后的资本配置使用效率两个层次。通过设计一定的量化指标对之进行考察我们发现:改革开放以来,我国居民储蓄-投资转化的资本形成效率总体上有了一定的改善,但仍处于较低水平;而居民储蓄-投资转化的资本配置使用效率,不但起点不高,而且呈现不断恶化的趋势。

治理结构与投资效率关系研究——基于国有与民营上市公司的分析

本文选取沪深A股上市公司2010—2012年数据,研究公司治理结构下股权结构、董事会特征和高管激励对投资效率的影响关系。结果显示,国有企业的投资效率整体上低于民营企业,第一大股东的持股比例与企业的投资效率呈倒"U"型的曲线关系,较弱股权制衡度、董事长与总经理的两职分离、适当低的董事会频率、良好的高管薪酬和股权激励,有助于提高企业的投资效率;而董事会规模和独立董事比例对投资效率的促进作用不明显。

金融深化视角下储蓄——投资转化效率的实证研究

储蓄是投资的根本源泉,高的储蓄-投资转化效率可以促进资本形成,进而推动经济增长。而经济的持续增长与金融深化有密切的联系,金融深化对经济增长最基本的贡献就是动员储蓄,提高储蓄-投资转化效率。本文从金融深化的理论基础出发,利用1981-2003年的统计资料分析了金融深化程度与储蓄-投资转化效率的关系,指出了金融抑制是制约储蓄向投资转化的根本原因,并在此基础上提出了通过金融深化提高储蓄-投资转化效率的途径。

提高我国储蓄——投资转化效率的对策研究

实证分析表明我国储蓄-投资转化效率低下的问题比较突出。提高我国储蓄-投资转化效率的对策是:第一,建立和完善金融市场,疏通我国储蓄-投资转化的各中渠道;第二,深化金融体制改革,建立适合我国的金融主导型储蓄投资转化机制;第三,深化制度改革,营造高效率储蓄-投资转化的制度环境。

我国储蓄─投资转化效率低下的原因分析

实证分析表明我国储蓄—投资转化效率低下的问题比较突出,主要原因是:第一,我国储蓄—投资转化的渠道存在障碍,表现为住户储蓄向实物投资的渠道不畅,储蓄—投资转化的政府渠道存在障碍,国外部门储蓄对国内投资的替代;第二,储蓄—投资转化机制失调;第三,在市场经济条件下促进储蓄—投资转化的制度(包括非正式制度)供给不足。

Public and Private Investment in the Port Sector in Mexico, 2000-2010： A Study Through Data Envelopment Analysis

Knowing the level of efficiency of investment applied in ports of Mexico is relevant information for the design of port policies that contribute to its development and thus to greater freight movement. The objective of this paper is to analyze the technical efficiency obtained from International Mexican Ports, through the use of the technique of Data Envelopment Analysis （DEA）. It uses data regarding public and private investment in ports applied during the period 2000-2010 and its influence on the number of Twenty-foot Equivalent Unit （TEU）. Because it has been applied the DEA-CCR （the linear programming model） model input oriented, thus not only the efficiency is calculated in ports, but benchmarking is also obtained to determine the efficient ports that serve as reference to those who were found to be inefficient. The results obtained showed that Manzanillo and Progreso were the most efficient ports. On the other hand, the ports that were not efficient for any of the years reviewed were Mazatlan and Lazaro Cardenas. Generally, public investment has been increasing over the period, and public policies are not designed to allow the ports to have an international projection.

Improving Investment and Financing Mechanism, Speeding up the Energy Reform Process-Interpretation to Implementing Opinions on Deepening Reform of Investment and Financing System in Energy Industry

Under the context of economic transformation and upgrading and the continued advancement of supplyside reforms in China, the development of the energy industry is confronted with many problems and challenges, such as insufficient energy investment, a shortage of financing channels,and the low participation of social capital. In order to fully mobilize social capital to invest in energy, enhance energy investment efficiency, expand energy financing channels,and increase the vitality of the energy industry, the state has recently issued the Implementing Opinions on Deepening the Reform of Investment and the Financing System in the Energy Industry( "Opinions"). This paper provides a deep interpretation of this document from the perspectives of the background for the investment and financing system reform in the energy industry,the main content of the reform, the problems and challenges confronting the reform,and the expected effects from the reform, and analyzes the objectives, ideas and problems of the reform, in order to effectively promote the investment and financing system reform in the energy industry.

Research on the Influence of Debt Financing on Corporate Investment--Based on Political Relations Perspective

we have done the research on the influence of debt financing on corporate investment Based on political relations perspective. The results show that the impact of debt financing on corporate investment from the political perspective and confirmed debt financing is more easily lead to inefficient investment under the influence of political relations.

Cooperation Between Co-operative Business Organization and Investor Owned Firm to Stimulate Economic Growth of a Country： A Cooperative Advantage Approach

This study elaborates that the economic growth of a country depending on not only the business performance of the investor owned firms （IOFs）, but also the business surplus of the cooperative organizations （Co-ops）. The policy maker should have the level of understanding and competence to blend five different factors related to organizational structure and business model of the Co-ops and the IOFs to the five similarities factors on the managerial approach of them into one marked. The study investigated five similarities factors and included into a conceptual structural model with its six measurement models, economic growth model, general national factor model, market and industry factors model, Co-ops/IOFs opportunities/threat model, Co-ops/IOFs strength /weakness model, and lastly the Co-ops/IOFs firm dynamic/active： sales, profit, and lost model. Reliability of the six similarities measurement models was tested by the Delphi technique with a sample of 33 respondents. The study found that, apart from the six measurement models, it also has two intervening factor variables that will reduce the power and magnitude of the economic growth which will come from mismanagement of policy maker： These factors are the different in intemational culture among countries, and the global warming and natural disaster from the excess consumption and excess production. These selfish, competition and economic greedy of people will lead to economic, social, and natural disaster problems. To reduce the socioeconomic disadvantages and global disaster, board＇s committee, and Co-ops manager as well as chief executive officer （CEO） of the IOFs must have a good understanding on these five similarities factors. Appropriate management of these five similarities factors will lead the firms to reach their high managerial efficiency, customer value, firm value, and finally economic growth.

Analysis on the Influence of Inefficient Investment of Internal Controls

This paper takes 2011-2013 Chinese A shares of listing Corporation as the object of study and researchs the problem between internal controls and overinvestment and tmderinvestment.Through this paper, the study find reasonable and effective internal controls can restrain overinvestment and underinvestment, Overall, strengthening the constmclion of internal controls is an effective way to improve the efficiency of corporate investment.

Earnings information quality, debt maturity structure and investment efficiency

This paper studies the effect of earnings information quality and debt maturity structure and their interaction on investment efficiency. The results show that companies with higher earnings information have higher investment efficiency, and the quality of earnings information has increased investment efficiency by reducing the lack of investment and suppressing overinvestment. The companies with higher short-term debt ratio show higher investment efficiency. The results show that there is a certain substitution effect between the effect of earnings information quality and the maturity strueture of debt on the efficiency of investment.

Research on the Relationship Between Financial Redundancy, Financing Constraints and Investment Efficiency in Manufacturing Listed Companies

Investment helps companies achieve innovation. Efficient investments often do more with less. Manufacturing enterprises should pay more attention to the issue of investment efficiency, seize investment opportunities and achieve efficient investment. Due to the continuous increase of borrowing costs in the financial markets, enterprises are getting more and more difficult to raise funds from the outside, so more and more enterprises are turning their attention to the financially redundant resources within the enterprises. Making good use of financially redundant resources will help enterprises solve the financing difficulties and enable them to have sufficient funds for investment activities and lay the foundation for sustainable development.

Study on engineering audit based on Valuation

in the bill of quantities mode, audit department how to perform the function of supervision, control the cost of the project, to improve the infrastructure investment efficiency to have the important meaning. This article from the valuation list elements of engineering audit mode based solutions, engineering audit under BOQ valuation mode is put forward from the audit information management, engineering contract claim, audit personnel quality etc..

Sustainable Energy Potential in the Egyptian Residential Sector

This paper presents an overview of sustainable energy investment potential in the Egyptian Residential Building sector. It demonstrates an analysis of the problems that faces the residential sector, house hold consumption and overview of the building construction, energy and renovation. The paper summaries the Egyptian EE （energy efficiency） policies and measures and the possibility to uses and finance that face EE and RE （renewable energy） policies to overcome the Barriers to enhance the Egyptian economy specially in the residential sector.

Optimizing the drilled well patterns for CBM recovery via numerical simulations and data envelopment analysis

Coalbed methane(CBM) commercial development requires choosing the arrangement of the wells.This should be done by considering the corresponding input-output(investment-profit) efficiencies.Simulations were obtained from the computer modeling group(CMG) given the reservoir conditions of the Panzhuang block in the southern part of the Qinshui Basin.This is a demonstration region for CBM development located in Shanxi province of northern China.The sensitivity of gas production from a single vertical well to the primary reservoir parameters was estimated first.Then multi-well gas production from three different well patterns was simulated to estimate the most appropriate well spacing.Combining the investment requirements then gave investment-profit efficiencies for these well patterns.A data envelopment analysis(DEA) model was used to optimize the efficiency.The results show that the permeability,the reservoir pressure,and the gas content have an evident impact on single well gas production.The desorption time has little or no affect on production.The equilateral triangular well pattern(ETWP) in a 400 m well spacing is,for multi-well development,the optimal pattern.It has a better input-output ratio,a longer stable yield time,and provides for greater CBM recovery than does either the rectangular well pattern(RWP) or the five point well pattern(FPWP).

Distributed Generation Influence on Power Distribution System Development in Poland

A lot of individual electricity sources of small power common （called distributed generation） occurred in Polish power sector during the last period. Gradual increases of distributed generation will cover current and future demand of consumers as well as allow to keep essential reserves in distribution and transmission grids. Emphasizing on this problem can upgrade economic efficiency and grid significance of distributed generation for investors and distribution utilities in Poland.