In 2004,Guangzhou Education Bureau introduced an English oral test into its existing Guangzhou Senior Secondary School Entrance Examination(hereafter,SSSEE)with the intention of shifting from grammar-based English tea...In 2004,Guangzhou Education Bureau introduced an English oral test into its existing Guangzhou Senior Secondary School Entrance Examination(hereafter,SSSEE)with the intention of shifting from grammar-based English teaching at junior secondary school to a communication-based teaching approach.This paper presents preliminary research findings related to the washback effects of the oral test on teaching.The data were collected via focus groups and questionnaires.The nature of the washback effects of the SSSEE English oral test is discussed from six dimensions.The study shows that washback is a complex phenomenon and it can be conceptualised via a multidimensional model.展开更多
This paper presents a pilot effort to identify a methodology to more efficiently codify, quantify and illustrate the intrinsic values associated with ecological resources as expressed by stakeholders. Existing methodo...This paper presents a pilot effort to identify a methodology to more efficiently codify, quantify and illustrate the intrinsic values associated with ecological resources as expressed by stakeholders. Existing methodologies examine the value of ecological resources, but are often criticized for their monetary focus. These methods generally produce quasi-market values for non-market resources. The natural and cultural resources associated with a national park are analyzed in terms of the expressed values of active stakeholders to quantitatively produce multiple dimensions of value for each resource relative to all others. The resulting abstract and graphical value-space quantitatively reflects stakeholder participation, reflects non-market intrinsic value, and proactively contributes to environmental management and decision making.展开更多
According to Bloomberg on November 12, China Petrochemical Corp., Asia’s biggest ref iner, agreed to buy a 30 percent stake in Galp Energia SGPS SA (GALP)’s Brazilian unit, its second invest- ment in offshore oil fi...According to Bloomberg on November 12, China Petrochemical Corp., Asia’s biggest ref iner, agreed to buy a 30 percent stake in Galp Energia SGPS SA (GALP)’s Brazilian unit, its second invest- ment in offshore oil fields in Latin America’s largest economy in as many years.展开更多
BP,the UK energy group,is planning to sell one of its biggest Chinese investments,by disposing of its 50percent stake in the SECCO petrochemicals plant near Shanghai.BP is the latest western oil company to curtail act...BP,the UK energy group,is planning to sell one of its biggest Chinese investments,by disposing of its 50percent stake in the SECCO petrochemicals plant near Shanghai.BP is the latest western oil company to curtail activity in China,as energy groups reel from low crude and petrochemical prices.China’s slow liberalization展开更多
How Egypt can attempt to revert back to its former glory OPTIMISTS who entertained thoughts that Egypt would revert to its former state of peace and tranquility after parliamentary elections must have been badly jolte...How Egypt can attempt to revert back to its former glory OPTIMISTS who entertained thoughts that Egypt would revert to its former state of peace and tranquility after parliamentary elections must have been badly jolted in early February.This is when a fairly innocuous event,a football match between two traditionally rival teams,ended with the death of over 70 people.How a sporting event can lead to such sectarian-motivated carnage underpins the deep-seated animosities unleashed after the January 25,2011 revo-展开更多
The reforms of China's financial system have significantly changed the country's financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institution...The reforms of China's financial system have significantly changed the country's financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institutions. This study investigates the motivations behind and economic consequences of this recent proliferation of investments in financial institutions by nonfinancial listed firms. We find that the motivations for holding equity stakes in financial institutions include alleviating the pressure of industry competition, reducing transaction costs, and diversification to reduce risk. These investments, however, have double-edged effects on the performance of the investing firms. While their investment income increases, their operating income and overall return on assets decrease, as the investment income cannot compensate for the decrease in other operating income. The investing firms' cost of debt also increases, their cash-holding decreases, and stock price performance does not improve after investing in financial institutions. These effects contrast with the enthusiasm nonfinancial listed firms have for investing in financial institutions. The empirical findings in this study can inform financial industry regulators and decision-makers in listed firms. We advise nonfinancial firms to be cautious when considering investing in financial institutions.展开更多
This paper aims to discuss and analyze the distribution characteristics of the private placement among different regions and different industries by state-owned and private holding enterprises as well as the changed e...This paper aims to discuss and analyze the distribution characteristics of the private placement among different regions and different industries by state-owned and private holding enterprises as well as the changed earning capacities of the capital before and after the placement. Taking the private placement financing data of the listed companies during the period of 2006-2011 in China's A-share markets as the sample, this study adopts the panel data model to conduct a quantitative analysis of the industrial upgrading effect of the private placement by listed companies with different holding natures. The empirical results show that though the private placement by the state-owned and private holding enterprises has not significantly improved the Clark index in any region, the private placement by private holding companies has significantly improved the growth rate of the tertiary industry in the eastern region. While reducing the proportion of the tertiary industry in GDP in the central and western regions, it has also improved the growth rate of the secondary industry and its proportion in GDP in that region to a larger extent. Yet the private placement of state-owned enterprises has no significant effect on the industrial upgrading path in any region except that it helped to raise the proportion of the secondary industry in GDP a little in the eastern region.展开更多
With Tehran clinging to its hard-line policy, experts are extremely cautious about the future of the Iranian nuclear issue Recent moves have once again high- lighted the complexity of the Iranian nuclear issue. In a m...With Tehran clinging to its hard-line policy, experts are extremely cautious about the future of the Iranian nuclear issue Recent moves have once again high- lighted the complexity of the Iranian nuclear issue. In a meeting in London on February 26,展开更多
文摘In 2004,Guangzhou Education Bureau introduced an English oral test into its existing Guangzhou Senior Secondary School Entrance Examination(hereafter,SSSEE)with the intention of shifting from grammar-based English teaching at junior secondary school to a communication-based teaching approach.This paper presents preliminary research findings related to the washback effects of the oral test on teaching.The data were collected via focus groups and questionnaires.The nature of the washback effects of the SSSEE English oral test is discussed from six dimensions.The study shows that washback is a complex phenomenon and it can be conceptualised via a multidimensional model.
文摘This paper presents a pilot effort to identify a methodology to more efficiently codify, quantify and illustrate the intrinsic values associated with ecological resources as expressed by stakeholders. Existing methodologies examine the value of ecological resources, but are often criticized for their monetary focus. These methods generally produce quasi-market values for non-market resources. The natural and cultural resources associated with a national park are analyzed in terms of the expressed values of active stakeholders to quantitatively produce multiple dimensions of value for each resource relative to all others. The resulting abstract and graphical value-space quantitatively reflects stakeholder participation, reflects non-market intrinsic value, and proactively contributes to environmental management and decision making.
文摘According to Bloomberg on November 12, China Petrochemical Corp., Asia’s biggest ref iner, agreed to buy a 30 percent stake in Galp Energia SGPS SA (GALP)’s Brazilian unit, its second invest- ment in offshore oil fields in Latin America’s largest economy in as many years.
文摘BP,the UK energy group,is planning to sell one of its biggest Chinese investments,by disposing of its 50percent stake in the SECCO petrochemicals plant near Shanghai.BP is the latest western oil company to curtail activity in China,as energy groups reel from low crude and petrochemical prices.China’s slow liberalization
文摘How Egypt can attempt to revert back to its former glory OPTIMISTS who entertained thoughts that Egypt would revert to its former state of peace and tranquility after parliamentary elections must have been badly jolted in early February.This is when a fairly innocuous event,a football match between two traditionally rival teams,ended with the death of over 70 people.How a sporting event can lead to such sectarian-motivated carnage underpins the deep-seated animosities unleashed after the January 25,2011 revo-
基金financial support from the National Natural Science Foundation of China (Project Nos.:71372151 and 71272201)
文摘The reforms of China's financial system have significantly changed the country's financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institutions. This study investigates the motivations behind and economic consequences of this recent proliferation of investments in financial institutions by nonfinancial listed firms. We find that the motivations for holding equity stakes in financial institutions include alleviating the pressure of industry competition, reducing transaction costs, and diversification to reduce risk. These investments, however, have double-edged effects on the performance of the investing firms. While their investment income increases, their operating income and overall return on assets decrease, as the investment income cannot compensate for the decrease in other operating income. The investing firms' cost of debt also increases, their cash-holding decreases, and stock price performance does not improve after investing in financial institutions. These effects contrast with the enthusiasm nonfinancial listed firms have for investing in financial institutions. The empirical findings in this study can inform financial industry regulators and decision-makers in listed firms. We advise nonfinancial firms to be cautious when considering investing in financial institutions.
文摘This paper aims to discuss and analyze the distribution characteristics of the private placement among different regions and different industries by state-owned and private holding enterprises as well as the changed earning capacities of the capital before and after the placement. Taking the private placement financing data of the listed companies during the period of 2006-2011 in China's A-share markets as the sample, this study adopts the panel data model to conduct a quantitative analysis of the industrial upgrading effect of the private placement by listed companies with different holding natures. The empirical results show that though the private placement by the state-owned and private holding enterprises has not significantly improved the Clark index in any region, the private placement by private holding companies has significantly improved the growth rate of the tertiary industry in the eastern region. While reducing the proportion of the tertiary industry in GDP in the central and western regions, it has also improved the growth rate of the secondary industry and its proportion in GDP in that region to a larger extent. Yet the private placement of state-owned enterprises has no significant effect on the industrial upgrading path in any region except that it helped to raise the proportion of the secondary industry in GDP a little in the eastern region.
文摘With Tehran clinging to its hard-line policy, experts are extremely cautious about the future of the Iranian nuclear issue Recent moves have once again high- lighted the complexity of the Iranian nuclear issue. In a meeting in London on February 26,
