论我国鼓励对外投资政策的调整

源于1979年的我国对外直接投资发展至今,已经取得了不小的成就,尤其是1993年以后的六七年中,我国对外投资企业数量和投资金资是以往15年总和的3～4倍,呈现出迅速发展的势头。截至1999年底,我国在国外的投资企业近6000家,协议中方总投资70亿美元,涉及的国家和地区超过了160个,投资领域也跨越了近20个行业。

论我国国际投资协定外国投资者优惠待遇限缩的谈判选择

长久以来,国际投资协定在程序和实体上赋予了外国投资者优于本国投资者的待遇。近期,美欧在缔结新的国际投资协定时均对外国投资者优惠待遇进行适当限缩。由于中国给予外国投资者的优惠待遇存在扩大的趋势,面对这一议题,我国国际投资协定谈判应审慎考虑限缩外国投资者的优惠待遇,选择限缩的适当条款,厘清限缩的具体范围。虽然欧美倡导的限缩模式存在单向性和效力方面的不足,但是取得了一定的限缩效果。中国可考虑在国际投资协定的谈判中探索接受并改进限缩外国投资者优惠待遇的可能性。

瑞士投资环境简介

瑞士投资环境简介对外资的开放程度一、对外资的开放程度瑞士欢迎外资并且给外资以国民待遇。联邦政府对外资采取不加干预的政策，政府措施仅限于为外资和本国投资创造和保持有利的大环境。其中包括保持政治、经济稳定、强有力的法律体系、良好的基础设施和高效的资本市场...

投资保险概述

投资保险是各国为了鼓励本国私人资本向海外投资,保障本国投资者在海外投资的利益而举办的一种政治风险保险。 投资保险在国外产生的历史不长,是第二次世界大战以后开始出现并于六十年代逐渐发展起来的。投资保险的产生,有其特定的时代背景,二十世纪前叶,北美。

资本市场的渐进开放——“双Q”制度

有关中国资本市场开放的问题一直是人们关注的焦点，随着中国入世，这个问题更已提上了议事日程。然而无数金融危机的前车之鉴提醒着我们资本市场的开放必须谨慎，使资本市场的发展实现“稳中求进”。

Threshold Effects in the Capital Account Liberalization and Foreign Direct Investment Relationship

This paper examines how capital account liberalization （CAL） affects foreign direct investment （FDI） inflows. Authors use a dynamic panel model encompassing 14 Middle East countries over the period from 1985 to 2009. The findings suggest that countries that are able to reap the benefits of the capital openness policy satisfy certain threshold conditions regarding the level of financial development and institutional quality. Thus to promote FDI, governments in this region should develop a set of policies that not only focus on financial openness, but also on the improvement of the financial system and legal institutions.

Comparative Study on Venture Capital among U.S.A., Japan and China

This essay, through comparing venture capital in China＇s modernization with U.S.A., Japan, summarizes the different characteristics of venture capital of the United States and Japan, and thinks that China＇s present modernization, as a flag of developing countries, has already entered middle period of industrialization, according to the experience of U.S.A., Japan and reality of China. The technological progress mode has already been changed from technology import to technological innovation stage at this time. In order to encourage innovations, we must develop venture capital in a more effective manner. The national conditions have determined the technology import of China, which must start with a high points, this is the most important condition of target to choose. The venture capital of China in system transitional period should use U.S.A.＇s experience for reference even more on the capital source to pay close attention to the capital sources of the government and bank. Once the government guides and starts the market, the folk capital will show the natural instinct of the capital automatically Risk investment is the embodiment capitalized personality spirit, in order to dispose such ambitious culture. We need the reform of the system as well as dispose risk investor＇s stratum at present.

Energy Abundance and China's Economic Growth: 2000–2014

Based on the interprovincial panel data of 2000–2014, this paper carries out an empirical analysis on the relationship between energy abundance and economic growth to test the theoretical hypothesis of ‘resource curse' and explore its transmission mechanism for China and its three regions. The results show that, at the national level, positive correlation is present between energy abundance and economic growth, proving that the ‘resource curse' phenomenon does not exist in China as a whole. Moreover, material capital input, human capital input and the level of opening to the outside world could promote economic growth, while technology innovation input may hinder economic growth. As seen by region, a positive correlation also exists between the energy abundance and economic growth in the eastern and western regions, and there is no ‘resource curse' phenomenon either. In all three regions, the human capital input could promote economic growth. Material capital input could promote economic growth in the eastern but hinder economic growth in the western region; the level of opening to the outside world could promote economic growth in the eastern region. It is known through further survey and analysis on the transmission mechanism of resource curse that, at the national level, material capital input, human capital input, and the level of opening to the outside world present positive correlation with energy abundance, indicating that energy development becomes an important transmission factor by strengthening material capital input and human capital input and raising the level of opening to the outside world. However, technology innovation input presents negative correlation with energy development. As seen by region, both the material capital input and human capital input present positive correlation with energy development strength in the three regions. Similar as the eastern region, the level of opening to the outside world presents positive correlation with energy industry development in the middle and western regions; however, the energy development presents negative correlation with technology input level in the western region.

Balance Analysis of Profit and Loss on Exploiting Coal-Bed Gas in China

Models about four aspects according to the balance principle and practice in China were established, which involve the minimum production scale, alert production scale, safe running scale, and the goal production scale for specified profit level. It provides an effective quantitative analyzing method for the investors of coal bed gas exploitation project.

Review on China Power Economy in 2004 and Near-Term Prospects

This paper introduces overall policy and economic environment for power industry in China. Thepolicy environment tends to be favorable, while the economic environment seems worrisome. The latter ismainly due to energy transportation blocking and price escalating. The paper also introduces the performanceand development of listed power companies, and points out that the power stock market is still promising andpower industry is still valuable for investment.

Shift of Driving Force for China's Industrial Growth during 1979-2012——A Trend toward Worsening Efficiency

The driving force for China's industrial growth has shifted from the synergy of efficiency and factor input to the dominance of capital input alone.With the boundary of 2003,the contribution of capital to the growth of China's industrial economy increased from the annual average of 34.07%to 89.28%while the contribution of TFP dived from the annual average of 47.34%to-4.08%.Meanwhile,TFP growth rates dropped from the annual average of 4.6%to-0.05%and marginal capital output ratio went down from0.61 in 2002 to 0.28 in 2012.This indicates that the investment-driven pattern of China's industrial growth has been confronted with severe inefficiency.Further research suggests that the tendency of worsening industrial growth efficiency already became significant prior to the global financial crisis of 2008 and the eruption of the global financial crisis is not the fundamental reason for the worsening of efficiency and only exacerbated its tendency.The current government-led and investment-driven pattern of industrial growth is the root cause of such efficiency deterioration.Therefore,in order to achieve the transition towards innovation- and efficiency-driven growth pattern,the key is to make an appropriate distinction in the relationship between market and government,i.e.,the government must create a perfect institutional system where the market plays a decisive role and take proactive initiative to promote technology innovation and transfer on the basis of respecting market mechanism and the intent of market entities.

Venture capital in Japan and enlightenment to China

In the business world, there have always been people are willing to start business, and other people are willing to back them and share the risks and rewards of enterprises, so in a sense, there has always been entrepreneurship and venture capital （VC）. Despite of Japanese VC has gone through ups and downs, Japanese VC continues to lead Asia and is second only to U.S. Japanese government has recognized the economic benefits of fostering the creation and development of venture finns, and has applied themselves assiduously to the task of creating a supportive environment. This paper provides some context for understanding the Japanese venture capital industry. Then it set forth an evolution of Japanese venture capital. The heart of the paper is devoted to discussion of the key features of Japanese venture capital. This includes information concerning the size of the industry, the players, and the nature of the Japanese venture capital investment. This is followed by an analysis of some of the obstacles to a more vibrant Japanese venture capital industry which gives us some enlightenment to Chinese venture capital development now. This paper also shows that the relative of the US, the Japanese venture capital industry is a young, small industry. In a word, it shows that there is still a substantial space for further development, which makes VC is still a promising industry in Japan.

Pricing factors in capital market and investment strategy： Evidence from Chinese listed companies

This paper explores the performances of some frequently used asset pricing factors and their investment implications in Chinese stock market. It is noted that CAPM model can hardly be applied to Chinese market as portfolios based on 13 values cannot generate high return against high risk. However, two factors （Size and B/M） from Fama-French model （1992） deliver better performances. Such findings indicate that models based on theoretical analysis are somewhat away from practice, and those risk factors from empirical studies are more applicable though not based on theories. Therefore, further researches are desirable concerning asset pricing factors.

How Do Investors Evaluate Business Continuity Management （BCM） Disclosures in Emergency Situations？ Evidence From the Great East Japan Earthquake

This study examines economic effects of business continuity management （BCM） disclosures through analyzing changes in shareholder returns in the wake of the Great East Japan Earthquake. The author examined differences in the recovery of share price between disclosing and non-disclosing corporations. The results show that the cumulative average abnormal returns （CAARs） of disclosing corporations recovered faster than non-disclosing corporations. Then, the author examined differences in the recovery of share price between developing and non-developing corporations. The results show that there is no statistically significant difference in the recovery of share price between developing and non-developing corporations. Finally, the author examined the differences of BCM between disclosing and non-disclosing corporations. The results suggest that BCM or business continuity plan （BCP） disclosing corporations have a broader coverage of the BCP, more appropriate procedures for responding to emergency situations, more effective training of the BCM, and more mature BCM systems than non-disclosing ones.

Research on VAM --Based on The Analysis of Practical PE Cases In China

Valuation Adjustment Mechanism of PE in western capitalist countries＇ economic activity is a high-risk, high-yield investment financing. As a new import from at the beginning of entering into China, the law and practice of the exploration of the related theory have not stopped. This article integrates the actual case of China＇s enterprises to participate in the bet agreement.It proposes to bet on the agreement of the meanings, contents, elements, and introduces the related concept of contrast and analysis, bet agreement on hot issues existing in the practice. It also put forward personal views and Suggestions on legislation.

The development of Japanese accounting system from Meiji Restoration to twenty first century

Japanese accounting system has been strongly influenced by the culture and foreign influences. The initial regulatory framework was based on German model. After Second World War, the accounting system moved to the American investor orientated approach, then later the development was the results of the own needs and satisfaction with the culture influences.

Exiles Turn Lemons Into Lemonade： Multiethnic Poets of the US Crossing Borders

This study critically examines selections from the political poetry of African American writer Amiri Baraka （Le Roi Jones） and Arab American writer Suheir Hammad and the path they have chosen for themselves as exiles reflected in their writing. Edward Said＇s theory of exile is employed to illuminate common areas of interests that link the two writers together as exiles. The study reveals their attitude toward various issues that impact both races, the African American and Arab American such as imperialism, colonization, and oppression. Their poetry underlines the impact of capitalism and racism on US society and other nations disempowered by imperialism.