The paper investigates the long run relationship and causality issues between working capital and profitability in 66 firms in Nigeria by using the panel cointegration method for the period 1999-2007. The empirical re...The paper investigates the long run relationship and causality issues between working capital and profitability in 66 firms in Nigeria by using the panel cointegration method for the period 1999-2007. The empirical results show that there is long run steady-state relationship between working capital and profitability. However, the short run causal relationship runs from working capital to profitability suggesting that inefficient working capital management may harm profitability.展开更多
The current accounting system has no longer suited to the development of colleges and university. On the basis of analyzing the crux of the accounting system, we propose solutions to make college financial work more t...The current accounting system has no longer suited to the development of colleges and university. On the basis of analyzing the crux of the accounting system, we propose solutions to make college financial work more truly reflect the financial condition and fund utilizing situation. With the development of social economy and changes in the market system, university has entered a period of extraordinary development. According to the needs of universities development, university accounting system has also undergone a series of changes. From the accounting method to account setup and expenditures structure, it has made a series of adjustment, to a certain extent reflecting the funding operations of the university. But because accounting basis, accounting method, setup of accounting statement and other items are not suited to financial management needs of universities, some accounting treatments and statements reflecting can＇ t be a true reflection of the funding operations of universities and financial position.展开更多
In essence, this market is an information market, and the flow of information leads to the allocation of resources. Enhancing the effectiveness of information disclosure can make the information exchange between diffe...In essence, this market is an information market, and the flow of information leads to the allocation of resources. Enhancing the effectiveness of information disclosure can make the information exchange between different market participants freely and effectively, so as to optimize the distribution of market resources, and promote the health of the entire capital market to develop rapidly and sustainably. As an important part of a country＇s financial, bank has a special corporate form and link with many different broad stakeholders, whether the information disclosure effective or not, the bank exert more influence to the capital market and society compared with ordinary businesses, what＇s more, the negative effect by the asymmetric information or disclosure failure is also far more big than ordinary enterprises. William Mcdonough, former chairman of the Basel committee on banking supervision, once said： ＂the greatest enemy of financial stability is a loss of confidence, but the greatest damage to the confidence is the lack of reliable information.＂ Therefore, ensuring the quality of information disclosure and enhancing the effectiveness of listed bank information disclosure have a very important practical significance on safeguarding the legitimate rights and interests of the majority of investors and stakeholders and stable financial order.展开更多
Objective:To investigate gender difference in the effects of daytime sleep on item and source memories,which are dissociable elements of declarative memory,and the effects of sleep on recollection and familiarity,whic...Objective:To investigate gender difference in the effects of daytime sleep on item and source memories,which are dissociable elements of declarative memory,and the effects of sleep on recollection and familiarity,which are two processes underlying recognition. Methods:Participants saw a series of pictures with either blue or red background,and were then given a pretest for item and source memories. Then males and females respectively were randomly assigned either to a wake or a sleep condition. In the wake condition,participants remained awake until the posttest;in the sleep condition,participants slept for 1 h until awakened and asked to remain awake until the posttest. Results:Daytime sleep contributed to retention of source memory rather than item memory in females,whereas males undergoing daytime sleep had a trend towards increased familiarity. For females,however,neither recollection nor familiarity appeared to be influenced by daytime sleep. Conclusion:The mechanism underlying gender difference may be linked with different memory traces resulting from different encoding strategies,as well as with different electrophysiological changes during daytime sleep.展开更多
文摘The paper investigates the long run relationship and causality issues between working capital and profitability in 66 firms in Nigeria by using the panel cointegration method for the period 1999-2007. The empirical results show that there is long run steady-state relationship between working capital and profitability. However, the short run causal relationship runs from working capital to profitability suggesting that inefficient working capital management may harm profitability.
文摘The current accounting system has no longer suited to the development of colleges and university. On the basis of analyzing the crux of the accounting system, we propose solutions to make college financial work more truly reflect the financial condition and fund utilizing situation. With the development of social economy and changes in the market system, university has entered a period of extraordinary development. According to the needs of universities development, university accounting system has also undergone a series of changes. From the accounting method to account setup and expenditures structure, it has made a series of adjustment, to a certain extent reflecting the funding operations of the university. But because accounting basis, accounting method, setup of accounting statement and other items are not suited to financial management needs of universities, some accounting treatments and statements reflecting can＇ t be a true reflection of the funding operations of universities and financial position.
文摘In essence, this market is an information market, and the flow of information leads to the allocation of resources. Enhancing the effectiveness of information disclosure can make the information exchange between different market participants freely and effectively, so as to optimize the distribution of market resources, and promote the health of the entire capital market to develop rapidly and sustainably. As an important part of a country＇s financial, bank has a special corporate form and link with many different broad stakeholders, whether the information disclosure effective or not, the bank exert more influence to the capital market and society compared with ordinary businesses, what＇s more, the negative effect by the asymmetric information or disclosure failure is also far more big than ordinary enterprises. William Mcdonough, former chairman of the Basel committee on banking supervision, once said： ＂the greatest enemy of financial stability is a loss of confidence, but the greatest damage to the confidence is the lack of reliable information.＂ Therefore, ensuring the quality of information disclosure and enhancing the effectiveness of listed bank information disclosure have a very important practical significance on safeguarding the legitimate rights and interests of the majority of investors and stakeholders and stable financial order.
基金supported partially by the National Basic Research Program (973) of China (No. 2006CB303101)the National Natural Science Foundation of China (No. 90820305)
文摘Objective:To investigate gender difference in the effects of daytime sleep on item and source memories,which are dissociable elements of declarative memory,and the effects of sleep on recollection and familiarity,which are two processes underlying recognition. Methods:Participants saw a series of pictures with either blue or red background,and were then given a pretest for item and source memories. Then males and females respectively were randomly assigned either to a wake or a sleep condition. In the wake condition,participants remained awake until the posttest;in the sleep condition,participants slept for 1 h until awakened and asked to remain awake until the posttest. Results:Daytime sleep contributed to retention of source memory rather than item memory in females,whereas males undergoing daytime sleep had a trend towards increased familiarity. For females,however,neither recollection nor familiarity appeared to be influenced by daytime sleep. Conclusion:The mechanism underlying gender difference may be linked with different memory traces resulting from different encoding strategies,as well as with different electrophysiological changes during daytime sleep.
