本文以股票流动性和企业并购为研究对象,使用根据高频数据计算得到的相对有效价差代表股票流动性,采用2003-2015年上市公司数据,研究股票流动性和企业并购行为之间的关系,并从机构投资者的视角对二者之间的影响机制进行探讨,使用倾向得分匹配(PSM)对结论的稳健性进行检验.研究发现:(1)股票流动性能够有效提高企业中的机构投资者持股比例,对基金持股比例的提升作用高于保险资管和合格的境外机构投资者,且在民营企业中的作用显著强于国有企业;(2)机构投资者持股能够显著提高企业的并购概率,但仅显著存在于民营企业,且基金持股对并购概率的提升作用显著强于保险资管和合格的境外机构投资者.

文章从商业银行风险承受水平的视角,构建面板数据模型,利用中国商业银行证券化数据,研究资产证券化对商业银行动机扭曲的影响.结果表明,无论在通常情况下,还是在非常时期,资产证券化都会增强商业银行经营资产的流动性,进而提高银行的风险承受水平.为防范商业银行进行证券化后的风险上升,有效的流动性监管是必要的.

As the increasing complexity of money laundering practice becomes more obvious,CPA has been involved in combating money laundering internationally.The international trend of CPA anti-money laundering is discussed firstly as the promising starting point;then this paper elaborates the CPA anti-money laundering auditing theoretical basis from the perspectives of auditing function,risk orientation,and career advantages;served to highlight the necessity and feasibility of CPA's role in fighting money laundering;last but not least,based on the study of the relevant anti-money laundering law and regulations in China,the paper aims to offer a preliminary proposal to CPA anti-money laundering auditing.

<span id="ChDivSummary" name="ChDivSummary" class="abstract-text">论文基于45家中国商业银行2002²011年的非平衡面板数据,从商业银行效率测度模型及其影响因素计量模型出发,对风险约束下的中国商业银行效率及其多方面的影响因素进行了系统的实证分析。结果表明,各商业银行的效率水平不断提高且差距逐渐缩小;无论是从估计参数的假设检验来看,还是从不同情形下的效率值测算结果来看,风险因素对样本银行效率存在显著影响,不考虑风险因素将导致所得效率值的明显低估;在效率的影响因素中,市场占有率对商业银行效率存在明显的负面影响,产权改革、改制上市、战略引资、宏观经济环境以及资产规模则具有明显的促进作用。</span>

Based on the unbalanced panel data of 45 commercial banks in China from 2002 to 2011,from TFP growth measure model of commercial banks and its influencing factors econometric model,this paper carried out a systematic empirical study on the total factor productivity growth and its various influencing factors.The results show that most of the commercial banks have achieved TFP growth,but there are obvious differences between different commercial banks.In the decomposition of TFP growth,technical efficiency change accounted for the largest proportion,followed by changes in scale efficiency,and technological change is minimum.Opening of the market has a significant negative impact of TFP growth of the commercial banks.Property rights reform,strategic investors,asset size and capital market development have significant role in promoting TFP growth in the presence of the commercial banks.

本文从创业教育的概念及其特征出发，分析了创业教育目标的层次性及其在高等教育目标框架下对会计专业人才培养目标和知识构成的影响路径，并探讨了其与会计专业人才培养目标的融合，并指出与现有教学体系方面融合的五个方面：课程体系、教学内容、信息技术、国际化教学、考核方案的融合。

Based on provincial panel data from 2002 to 2010,this paper used the Malmquist productivity index to measure total factor productivity and decomposition of the value changes in our health care system.Then we conducted in-depth analysis of the influencing factors of productivity growth using two-stage method and the Tobit model.The study found that to achieve 41.8% growth in total factor productivity of our health care system as a whole,the source of growth comes from technological progress,population density,level of education,public health spending,health care structure of the geographical distribution of the intensity and configuration of technical and non-technical staff are the important factors of technological progress and productivity growth.These findings have important referencing significance for further deepening the reform of the health care system.

本文通过对某高校的会计学院2009届、2010届本科学生毕业论文、指导手册、指导教师评阅意见、评阅小组与答辩小组评阅意见、毕业论文成绩单等实地调查;学校与部分二级学院论文教学工作制度及执行的跟踪调查,面向学生的问卷调查,分析了学院管理、教师指导、学生写作的问题与成因,并提出了相关建议。

This paper estimated the technical efficiency of the regional health care system by sing a stochastic frontier production model,and the based on provincial panel data from 2002 to 2010.The study found that the efficiency of China′s health system as a whole is relatively low and regional differences are significant.The level of economic development,population size,education level and input for public health,as well as the number of hospital and health care technical staff significantly influence the efficiency of medical technology in different aspects.At the overall background that the regional economy develops in an imbalanced way,the main avenue to enhance the efficiency of medical and health service is to increase the input for public health,introduce a competitive mechanism,raise the technical level and optimize the proportion of the staff of medical establishments.

本文在国际金融危机的背景下,研究汇率变动对我国物价波动的传导机制,剖析汇率传导的直接、间接影响。通过建立递归的SVAR模型,利用脉冲响应和方差分解,量化汇率对CPI的影响程度和时滞效应。研究发现:短期来看,人民币升值对通货膨胀的具有一定的抑制作用;长期来看,汇率变动引起的外汇储备对CPI的影响较强。

This paper analyzed the total risk, systemic risk and non-systematic risk of China's listed banks from the two dimensions of longitudinal dynamic changes and lateral variations, based on the unbalanced panel data of 14listed banks in China from March 2007to February 2011, and by building a multi-factor risk measurement models.The study found that the total risk and systematic risk of the listed banks had a more substantial decline during the sample period.The major commercial banks showed the lowest level of risk.The systemic risk average accounting was up to 78.23%, indicating that the risk of China's banking industry mainly comes from the systemic risks.From the viewpoint of change in trend, systemic risk variation of the three types of commercial banks is basically the same and tends to converge, while the non-systemic risk does not show a clear linear variation and tends to diverge in the later period of research.

A quality index of internally-controlled information disclosure based on entropy model measurement is established in this paper,on the basis of which an empirical test is made on the relationship between the quality of internally-controlled information disclosure and cost of capital in accordance with internally-controlled information disclosure from the listed companies in the years of 2008—2011. The test results show that since 2009,the higher of the quality of internally-controlled information disclosure for the listed companies,the lower the cost of capital for them at the same circumstance,which suggests that the internally-controlled information disclosure has begun to capture much concern in the market,meaning that internally-controlled information disclosure brings not only burden but also benefit for the listed companies.

<span id="ChDivSummary" name="ChDivSummary" class="abstract-text">本文采用2007年1月～2011年12月中国16家上市银行面板数据,首先,通过三因素风险估计模型对系统性风险和非系统性风险进行分解;然后,通过构建随机边界成本函数,将风险因素引入银行效率的测算模型,利用单阶段估计技术,对风险、治理结构、市场结构等影响因素进行分析,并对风险约束模型和无风险模型进行比较。研究发现,不考虑风险因素将导致无效率值的明显高估;在所有模型中,大型商业银行均显示出较强的成本优势。</span>

This paper examined the relation between disclosure quality of internal control and the performance of operation of companies by establishing an index of disclosure quality of internal control which is based on the entropy theory,and by taking ROA,ROE,EPS,Tobin's Q and the composed index of operation IOP as a variant of proxies,we find there does exist a positive relation between disclosure quality of internal control and the operational performance of a company.Therefore,the company which shows high quality of internal control disclosure will manifest a better operational performance,which means,at the current stage,disclosure of internal control in China stock markets is useful for making a decision in the stock investment market.

Case teaching materials of advanced financial accounting is the important foundation of the implementation of the case teaching about this course.Presently,not only the number of such materials is scarce,but also the quality of writing is questionable.Through the survey,it shows that the construction of advanced financial accounting case textbook lags,the collection way and construction mechanisms is inadequate,the case content and structure are out of touch with teaching practice,and the case content layout and form design are defective.Therefor,to promote and improve the construction of advanced financial accounting case textbook is urgent.

This paper introduced Herfindahl index to measure the degree of business structure diversification.Based on the panel data of 19 major commercial banks from 2000 to 2010 it carried out a systematic analysis of the relationship between the diversification of the revenue structure,operating performance and the risks of China's commercial banks through the establishment of diversified performance,diversification of risks and risk-performance model.The study found that diversification effectively reduced the risks of banks,but it did not affect bank performance improvements which mainly come from property rights reforms,the introduction of foreign investment,governance mechanisms,as well as the expansion of bank asset size which leads to economies of scale in recent years.These findings have an important reference for further reform and development of China's banking industry.

The assessment on the quality of the disclosure of the internal control information of a listed company is of an extraordinary value whether it is considered theoretically or used for the governing practice.Aiming at the existent drawbacks of the measuring methods including those measuring the detailed degree of the disclosure of the internal control information,measuring the dummy variables,and measuring with the synthetic indicators,we have constructed a quality index for the disclosure of the internal control information based on the measurement of the entropy model and testified it empirically.The results denote that the measuring index is not all-sided,and objective,but can be used more conveniently and rapidly;the measuring results are more reliable,not only reflecting the background of the change in the system,but effectively reflecting the qualitative difference between individuals as well.

Based on the panel data of 31 provinces and metropolises from 2002 to 2010,and under the DEA-Tobit two stage analytical framework,this paper researches the dynamic effects of demographic factors on China's regional public health service efficiency.Firstly,the technical efficiency,pure technical efficiency and scale efficiency of the health care system in various provinces is estimated basing on the data envelopment analysis(DEA).Then the demographic variables affecting the efficiency such as population size,population density,education and urbanization rate are tested by the method of limited dependent variable Tobit model.The results show that the population size and population density are significantly positive to the overall service efficiency of the health care system while education,urbanization rate shows insignificant correlation with the overall efficiency,but t are significantly correlated to scale efficiency and pure technical efficiency of the health care system.

Based on the translog funds demand stochastic frontier model,and employing an one-step analysis approach,this paper examined banking fund input efficiency in China,paying attention to inefficiency effects.The study found that China's banking funds inefficiency increased to a certain extent during the sample period.The city commercial banks showed the highest efficiency,the large commercial banks had the lowest efficiency,and the joint-stock commercial banks remained consistent with the industry average during the entire sample period.Stock issue had positive impact on bank efficiency,market share and efficiency was positively related with each other,expansion effect of asset size was negative,nature of property rights and capital efficiency was not necessarily linked,foreign equity participation and market deregulation had limited impact.The research findings have important implications on future bank reforms in China.

From the micro scope of factor input and corporate governance structure,and by establishing a translog labor demand stochastic boundary model and employing single stage estimation technique,the authors evaluate the inefficiency of labor input of commercial banks in China,and the other determinants such as ownership,governance structure,and market structure.Research shows that labor inefficiency of Chinese commercial banks did not show a clear downward tendency with time goes on in addition to a sharp decline at the initial stage of the research.City commercial banks show the highest level of labor efficiency,while large scale commercial banks have the lowest efficiency,but the gap becomes smaller with time passes by.Labor efficiency is negatively correlated with asset size,it significantly promotes market opening,system reform and stock issuing,but is has no significant influence on foreign equity participation.Based on this,the authors propose the reform orientation of Chinese commercial banks under that background of financial liberalism.