Abstract

Understanding the incentives for and consequences of accounting method choices is important to various constituents of accounting. In 1998, a Chinese accounting regulation allowed listed companies to voluntarily write‐down assets through their income statements. The regulation was amended in 1999 to require all companies to write‐down assets, with a retroactive adjustment of pre‐1998 asset impairment to the beginning equity. These events allow us to unambiguously identify a test sample that voluntarily wrote down assets in 1998, and a control sample that suffered from asset impairment but chose not to write‐down. This research setting is free from many problems that have been identified in the asset write‐down literature. Overall, we find that the voluntary asset write‐downs have a positive valuation effect. While recognizing the possibility of alternative explanations, we believe our results, taken together, are more consistent than others, with the voluntary write‐downs being a signal of the potential for performance improvement. We provide evidence consistent with this signaling explanation. This study adds additional evidence to the accounting choice literature by taking advantage of a unique research opportunity in China and adopting a broad approach to examining both the incentives for and consequence of voluntary asset write‐downs.

Keyword

Abstract

The rise of China and its major corporations will be a key economic development in this century. Even as leading Chinese firms show their muscle through ambitious acquisitions of firms like Thinkpad and RCA, many western investors and business leaders know little or nothing about them. This book looks at the rise of Chinese firms, who they are, how they'll change the global competitive landscape, their strengths and weaknesses, and how established western firms might meet the challenges and opportunities this trend presents.

Keyword

Abstract

Keyword

Abstract

本书包括：展现你的领导“范儿”、正念：风暴中心的静谧、坚持还是妥协等内容。

Keyword

Abstract

《中欧商业评论精选集·人文卷-人文沥金》，本书主要探讨了公共性缺失的危机；改革需要新的历史观；“温州模式”的真身；大爱无疆——从中国传统文化谈企业家的社会责任等有关内容。

Keyword

Abstract

玫琳凯（中国）化妆品有限公司（以下简称“玫琳凯中国”）发展出了一套以美国达拉斯总部的运营模式为基础、同时具有中国特色的创新运营体系，并且这些制度和方法也开始被总部的员工一起学习和推广。玫琳凯中国到底是如何从客户端、信息系统和生产供应链，来打造其在中国本土化的卓越运营？ http://www.ceibsreview.com/show/index/calssid/28/id/1635

Keyword

Abstract

Keyword

Abstract

出口边际涵盖了广度边际、深度边际、价格指数、数量指数和质量边际。将109个国家的实际汇率体制分成固定汇率、爬行汇率、管理浮动和自由浮动四类,运用1992-2001年各国对美国的制造业产品出口数据,估计了各类汇率体制对出口边际的影响。研究发现,固定汇率制对出口广度和深度的促进作用是和汇率低估程度紧密相关,只有当汇率低估程度达到30%以上时,固定汇率制才对出口广度和深度起到促进作用。固定汇率和爬行汇率制国家的出口质量较低,而管理浮动制国家的出口质量较高。虽然在固定汇率制下大幅低估汇率能够促进出口,但它是以低价低质为竞争手段的,而管理浮动制能够抑制低价促进出口的程度,使得提高质量成为促进出口的手段,有助于一个国家保持长远的出口竞争力。

Keyword

出口边际 ;  汇率低估 ;  汇率体制

Abstract

Keyword

Abstract

Keyword