专利价值评估:方法、障碍与政策支持

专利价值评估是专利运营过程中非常重要的环节。本文首先对专利价值评估方法进行了归类,并对这些方法的适用性和优劣势进行了比较分析,在此基础上,结合基于《资产评估执业准则——无形资产》和《专利资产评估指导意见》,提出了在准则执行过程中存在的障碍和困难,最后基于这些障碍提出相关的政策建议。     

资产弃置会计服务管理——以煤炭行业为例

中国是煤炭的生产与消费大国。煤炭企业的生产经营活动会对环境造成污染和破坏,应履行资产弃置义务。目前,中国煤炭企业资产弃置费用普遍确认不足或没有确认,同时存在远期义务到期违约风险。文章认为,煤炭行业组织应该增加在煤炭企业资产弃置会计中的服务管理职能,通过参与保证金制度管理、联营基金管理并与注册会计师合作来保证煤炭企业资产弃置义务的履行,并提出了政府对煤炭行业组织服务管理职能履行的支持手段。     

资产证券化流程及其会计处理研究

资产证券化是19世纪金融领域最重要的创新实践成果,它在西方发达国家发展迅猛,但在我国仍属于起步和探索阶段.与西方发达国家相比,我国资产证券化发展的程度不同、法律界限不同,会计处理流程也有差异.首先分析资产证券化的概念,解剖资产证券化的内涵和4种基本形式,其次详细解读最有影响力的信贷资产证券化的流程,最后对比国际和国内在会计上处理资产证券化的异同.认为在资产证券化过程中,证券化资产转让会计处理的关键和难点就是"真实出售"的确认,把握证券化资产控制权是否转移是解决问题的关键要素.     

New Evidence on the Ability of Asset Prices and Real Economic Activity Forecast Errors to Predict Inflation Forecast Errors

This paper investigates the impact of both asset and macroeconomic forecast errors on inflation forecast errors in the USA by making use of a two‐regime model. The findings document a significant contribution of both types of forecast errors to the explanation of inflation forecast errors, with the pass‐through being stronger when these errors move within the high‐volatility regime. Copyright © 2016 John Wiley & Sons, Ltd.     

Re-engineering transformer maintenance processes to improve customized service delivery

The outage of a transformer in a power generation system will generally result in a shutdown of the entire system.Consequentially,large amounts of revenue are lost to the plant owner with a substantial negative impact on the civil community and industrial customers.This paper analyzes the current maintenance practices(i.e.,an as-is process model) of a transformer manufacturing company,which provides maintenance services to power generation plants and reports the major weaknesses in current business pract...     

Risk factor beta conditional value‐at‐risk

We propose a new approach to the estimation of the portfolio Value‐at‐Risk. Based on the assumption that the same macroeconomic factors affect returns of all assets in a portfolio, this methodology allows the generation of the sequence of hypothetical future equilibrium portfolio returns given the historical values of the underlying macroeconomic factors and the asset betas with respect to these factors. Value‐at‐Risk is then found as an appropriate percentile of the corresponding hypothetical distribution of the portfolio profits and losses. The backtesting results for the six Fama–French benchmark portfolios and the S&P500 index show that this approach yields reasonably accurate estimates of the portfolio Value‐at‐Risk. Copyright © 2008 John Wiley & Sons, Ltd.     

国有商业银行创新不良资产处置手段的思考

分析了创新不良资产处置手段的必要性和可行性,探讨了如何实现不良资产处置手段的创新及需要的政策支持.     

从救市一周年看美国的国家本质

美国政府“问题资产救助计划”（TARP）救市方案实施一年以来，在政府资金的帮助下，各大金融机构起死回生，逐步走向赢利状态，而广大中小银行及货款机构却濒遭破产厄运，全关失业人数继续增加，老百姓生活更加困难．救市措施并没有解决金融危机的根源问题，反而让大量资金流入外国银行或私人腰包，部分纾因资金无法收回．事实表明美国政府救市的目的是为了雏护大资本家的利益，美国政府是美国大资本家的后台，是美国的总资本家，美国的国家政权是为资产阶级利益服务的工具．     

政府和社会资本合作对企业债务期限结构的影响——来自中国上市公司的微观证据

基于2013-2018年我国上市公司微观数据的实证研究表明,政府和社会资本合作会显著影响企业的债务期限结构,即增加长期有息债务、降低短期有息债务占比.此外,相比于建筑、房地产等高负债行业的企业,低负债行业的企业参与政府和社会资本合作项目投资会显著提高自身债务率;从债务期限来看,政府和社会资本合作会增加高负债行业企业的长期有息债务.进一步研究表明,资产流动性是政府和社会资本合作影响企业债务期限结构的作用渠道.     

Analyzing Macroeconomic Forecastability

This paper estimates, using stochastic simulation and a multi‐country macroeconometric model, the fraction of the forecast error variance of output changes and the fraction of the forecast error variance of inflation that are due to unpredictable asset price changes. The results suggest that between about 25% and 37% of the forecast error variance of output growth over eight quarters is due to asset price changes and between about 33% and 60% of the forecast error variance of inflation over eight quarters is due to asset price changes. These estimates provide limits to the accuracy that can be expected from macroeconomic forecasting. Copyright © 2011 John Wiley & Sons, Ltd.