The development of the socialist market economy demands the furtherintensification of the reform of the management operating system (MOS)of the state-owned assets, the strengthening of the efficiency in the man-agemen...The development of the socialist market economy demands the furtherintensification of the reform of the management operating system (MOS)of the state-owned assets, the strengthening of the efficiency in the man-agement of state-owned assets,and the improvement of the operating bene-展开更多
In November 2011, the Australian government approved the legislation （Clean Energy Act 2011） to introduce a reduction plan of carbon emissions in Australia. This plan will be implemented from July 2012. This is one ...In November 2011, the Australian government approved the legislation （Clean Energy Act 2011） to introduce a reduction plan of carbon emissions in Australia. This plan will be implemented from July 2012. This is one of the first accounting studies to investigate the potential impacts of this plan on long-lived asset values and operating cash flows for Australian listed companies. A sample of Australian Securities Exchange （ASX） 200 indexed companies from 2＇006 to 2010 is used. Hypotheses are tested based on Heckman＇s （1979） two-stage approach. Three regression models are developed to examine the association between carbon emissions and asset values/operating cash flows. This study finds that asset values and operating cash flows will be adversely affected, if the reduction plan is implemented. Specifically, this study finds that the book value of long-lived assets will decrease, if listed companies are considered to be emissions-liable. The book value of long-lived assets is further found to be negatively associated with listed companies＇ carbon emission levels. This study also demonstrates that operating cash flows of emissions-liable companies will be adversely affected. However, this study does not find a relationship between operating cash flows and companies＇ emission levels. The empirical findings from Australian listed companies provide the evidence that the reduction plan of carbon emissions will adversely affect corporate entities＇ asset values and operating cash flows. The results further indicate that the magnitude of the impact will be proportional to the companies＇ emission levels. The implications of these empirical findings for listed companies, for the accounting profession, and for carbon emission regulators are also discussed.展开更多
Plant maintenance has been a discipline that has gradually evolved with the industrial revolution. For quite some time, it has been a ＂necessary evil＂ in production, manufacturing, and process settings. The changing...Plant maintenance has been a discipline that has gradually evolved with the industrial revolution. For quite some time, it has been a ＂necessary evil＂ in production, manufacturing, and process settings. The changing business needs and industrial conditions have had various impacts on the maintenance process, particularly over the last few years. While some industries have inherent difficulties seeing what maintenance is all about, others have begun to add more flavor to the organizational maintenance practices. This article brings an overview of developments within the offshore oil and gas production sector.展开更多
As a key part of a corporate＇s operation, Asset allocation is critical to its survival and development This paper uses Markowitz financial security portfolio theory on corporate＇s asset allocation, to derive the opt...As a key part of a corporate＇s operation, Asset allocation is critical to its survival and development This paper uses Markowitz financial security portfolio theory on corporate＇s asset allocation, to derive the optimal asset allocation for an corporate in China through case study.展开更多
文摘The development of the socialist market economy demands the furtherintensification of the reform of the management operating system (MOS)of the state-owned assets, the strengthening of the efficiency in the man-agement of state-owned assets,and the improvement of the operating bene-
文摘In November 2011, the Australian government approved the legislation （Clean Energy Act 2011） to introduce a reduction plan of carbon emissions in Australia. This plan will be implemented from July 2012. This is one of the first accounting studies to investigate the potential impacts of this plan on long-lived asset values and operating cash flows for Australian listed companies. A sample of Australian Securities Exchange （ASX） 200 indexed companies from 2＇006 to 2010 is used. Hypotheses are tested based on Heckman＇s （1979） two-stage approach. Three regression models are developed to examine the association between carbon emissions and asset values/operating cash flows. This study finds that asset values and operating cash flows will be adversely affected, if the reduction plan is implemented. Specifically, this study finds that the book value of long-lived assets will decrease, if listed companies are considered to be emissions-liable. The book value of long-lived assets is further found to be negatively associated with listed companies＇ carbon emission levels. This study also demonstrates that operating cash flows of emissions-liable companies will be adversely affected. However, this study does not find a relationship between operating cash flows and companies＇ emission levels. The empirical findings from Australian listed companies provide the evidence that the reduction plan of carbon emissions will adversely affect corporate entities＇ asset values and operating cash flows. The results further indicate that the magnitude of the impact will be proportional to the companies＇ emission levels. The implications of these empirical findings for listed companies, for the accounting profession, and for carbon emission regulators are also discussed.
文摘Plant maintenance has been a discipline that has gradually evolved with the industrial revolution. For quite some time, it has been a ＂necessary evil＂ in production, manufacturing, and process settings. The changing business needs and industrial conditions have had various impacts on the maintenance process, particularly over the last few years. While some industries have inherent difficulties seeing what maintenance is all about, others have begun to add more flavor to the organizational maintenance practices. This article brings an overview of developments within the offshore oil and gas production sector.
文摘As a key part of a corporate＇s operation, Asset allocation is critical to its survival and development This paper uses Markowitz financial security portfolio theory on corporate＇s asset allocation, to derive the optimal asset allocation for an corporate in China through case study.
