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In recent years, people have institutional arrangements of the CPA had a doubt. That lead to "an independent audit is not independent, "the major factor is the actual choice and pay the audit fees accounting firm that audited entity management. I believe that auditor independence from the source control problem, we must reform the current mode of unreasonable audit commission should be under...
This paper investigates the effects of corporate tax on debt structure of China listed companies, and its differences between state-owned companies and non-state-owned companies. We find that the proportion of interest-bearing debt to total liabilities is positive related to corporate income tax rate in state-owned companies, but not in non-state-owned companies; the maturity of interest-bearing debt...
Financing is a capital allocation process, the financing efficiency determines the capital allocation efficiency, affects the enterprise operating efficiency. In order to discuss the present situation of Heilongjiang coal enterprise financing efficiency, The paper established a factor set composed of capital cost, cash utilize efficiency, freedom degree of financing entity, normalization of financing...
Financing has become the bottleneck of SMEs' development. The introduction of the Real Right Law has conformed the need of the economic development, enlarged the range of the collateral, especially, added the floating mortgaging system. In the aspect of pledging, it has cleared that the accounts receivable can be pledged. And, it has stressed the real right publicity principle, strengthened the registration...
Construction industry has been regarded as the locomotive of Taiwan's business in 1970. Because there are inherent limitations, construction has gradually become a more backward industry. Taiwan joined the WTO in 2001, construction firms need to improve management and implementation of physical fitness to cope with the impact of open markets. In order to comply with the fairness and avoid unnecessary...
The small loan company is an emergent novelty for the Chinese credit market. The basic function of it is the financial intermediary which provides important services to some private sectors of the China economy. But as a new-born business, there are no systematic research on it and lack of effective supervision as well. This study investigates the credit risk mitigation techniques and features of...
The newly formed AVIC is trying to become a world-class aviation industry. Overseas mergers and acquisitions is an effective method to achieve its strategic goals. Summarized the possible risks in overseas mergers and acquisitions in the aircraft industry by the analysis of modern overseas mergers and acquisitions and proposed risk aversion, risk control measures.
The reverse merger is a form of mergers and acquisitions, also an indirect channel for enterprises to realize listing and financing. From the perspective of risk analysis, by selecting three representative shell resource markets, America, Hong Kong and mainland China, the article reveals the hierarchy of different shell resource markets, and studies some problems about shell choice, ways of reverse...
Based on the data of Chinese listed private enterprises from 2005 to 2008, we study the relationship between environmental, political connections and the audit requirements. The results showed that, in the areas of poor market environment, companies tend to choose low-quality auditors and are more motivated to seek political connections. We also find that politically connected firms prefer low-quality...
Despite to the initial attractions, the international projects are potentially high-risk and their negative impacts can affect international contractors if the risks are not identified in the contracting phase. The implementation of an efficient risk management process can reduce the negative impacts of identified risks which may in turn increase the profit of these companies. Risks of international...
Based on the analysis of current situations of logistics finance of SMEs in China, existing problems, such as environmental risk, pledge risk, operational risk of financial institutions, management risk of logistics enterprises, are analyzed, countermeasures are proposed. The result show that to strengthen risk management of SMEs in China, should build a good legal framework for preventing risks;...
According to the current law, transportation is divided into operational and non-operational transportation. However, there are shortcomings in the explanation which results in lots of contradicts between road transport supervising organization and operator and negatively affects operating environment. Based on the analysis of the existing legal provisions, this paper will explain in details the existing...
This paper analyzed the affecting factors, from company internal government structure to external governance system, on the disclosure of internal control information of the listed company, taken the 2009 annual report of company listed on GEM board as a sample for study. According to analysis of covariance, chow test, the conclusion indicated that the disclosure degree of internal control information...
Along with the development of the capital market in our country, merger as an important activity on capital market appears more and more active and enjoys rich variety. Merger process is usually accompanied by the flow of related parties' interest, but the flow of interest need be balanced, thus the interest of shareholders and creditors can be out of protection, which tells that there would be many...
With the implementation of new accounting standards, there are some misunderstandings in China's accounting academic circles and practices in the accounting professional judgment. Professional judgments is subject to state laws, facts and evidences, multi- constraints from the enterprise and the management. From the financial reporting point of view, accounting professional judgments should be subject...
This article regresses the data of settlement and litigation from a Life Insurance Stock Company Limited in Beijing during the period of 2005–2008, finding that the insurer's indemnities adjudicated by a judge is far less than the amounts offered by a policyholder, being little correlated with amounts offered by a policyholder while related strongly to indemnities accepted by an insurer. District...
Cash dividend policy is one of the laws of a company. It is the reflection of the controller's will and is penetrated with his interest inclination. There are probably three situations in which the controller takes the advantage of the cash dividend to mine a tunnel through which to expropriate on the interests of others: mining tunnel of the operator for expropriation on the interests of shareholders,...
E-commerce, on the one hand bring huge economic benefits to SMEs (small and medium enterprises), on the other hand bring credit risk, transaction risk, mode selection risks, strategic risks and the risk of talent and technology to SME. To identify correctly these risks and avoid these risks is very important for small and medium enterprises development. This requires the community, government and...
Based on the samples of listed manufacturing companies in Shanghai and Shenzhen security markets from 2001 to 2004, the empirical study shows that there is a positive correlation between the level of legal protection for investors, product market competition and corporate capital allocation efficiency. When legal protection for investors is poor, product market competition can more significantly increase...
Using family controlled listed firms as the sample for 2002–2007 year, we test whether capital expenditure of listed family firms depends on internal cash flow and what's the causes if it is. We find that there is investment-cash flow sensitivity in family firms and the reason is the financing constraints of family firms. So the primary measure to promote family firms development is solving its financing...
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