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Energy, just like labor and capital, is universally acknowledged to be the fundamental production factor and strategic resource of an industrial society. China's sustained rapid economic growth has resulted in its ever-growing energy import dependency, especially oil. Meanwhile, world energy markets have fluctuated dramatically, and international crude oil prices have risen sharply. These factors have combined to make national energy security a hot strategic issue for China's government and society.
Focusing on these issues, Energy Economics: Modeling and Empirical Analysis in China includes analyzes of the scenarios of different policies. A comprehensive reference on China's energy policy, the book covers:
The first volume of a series of China Energy Reports, this book is a collection of the research results on energy strategy and policy issues investigated by the Center for Energy & Environmental Policy Research (CEEP), Institute of Policy and Management (IPM), and Chinese Academy of Sciences (CAS). It only analyzes the policies of the issue, but also briefly discusses econometric models and methodologies, data sources and pretreatment, and present empirical result analyses and discussions and opportunities for further study. Exploring changes in the international and domestic energy-economy, the book provides support for decision-makers and promotes the exchange of findings with energy policy research peers.
With the collapse of Enron and other similar scandals, financial reporting and its relation to corporate governance has become a contentious issue. In this revealing book, author Paul Rosenfield involves the reader in exploring contemporary financial reporting and skilfully highlights the deficiencies in current methods. In doing so it provides a user-oriented guide to the salient issues which affect all aspects of financial accounting. Contemporary Issues in Financial Reporting challenges the reader to critically think through the issues and arguments involved in the practice of financial reporting. It goes to the heart of the most difficult and controversial problems, investigating the major issues and commenting upon the solutions offered in financial reporting literature. The grave defects in current accepted accounting principles are demonstrated and exposed, and alternative solutions are offered. Written by a former Secretary General of the International Accounting Standards Committee, practitioners and accounting scholars alike will find this volume to be an essential addition to their libraries.
This timely book examines the effects of financial liberalization in the more advanced economies of Southeast Asia. The book also analyses the degree to which emerging and transitional economies in East and South Asia can benefit from this example. The weakness of the banking sector is examined in order to explain the reasons behind the currency crisis and to prescribe policies to avoid a similar episode in the future. Further, the book documents the individual steps taken to liberalize the economies over a period of about 20-30 years in each country. The analyses reveal that liberalization led to high growth in economies undertaking such reforms while unwillingness to take such reforms appear to have led to poor growth and hence low social development. This finding contradicts the common belief that liberalization led to the financial crisis and then to growth collapse. An efficient and liberalized financial sector is an essential precondition for promoting and accelerating economic growth and welfare. Arguments supporting this policy are based on the experience of Southeast Asian economies, particularly the pioneers such as Malaysia, Singapore, Indonesia and Thailand. This has led some less developed countries in East and South Asia to initiate the process of financial sector reforms and to realize the potential benefits of such reforms. The authors analyse the reform process and the lessons to be drawn from the experiences of these economies in their quest for sustained development in East and South Asia.
The complete guide to internal auditing for the modern world Brink's Modern Internal Auditing: A Common Body of Knowledge, Eighth Edition covers the fundamental information that you need to make your role as internal auditor effective, efficient, and accurate. Originally written by one of the founders of internal auditing, Vic Brink and now fully updated and revised by internal controls and IT specialist, Robert Moeller, this new edition reflects the latest industry changes and legal revisions. This comprehensive resource has long been and will continue to be a critical reference for both new and seasoned internal auditors alike. Through the information provided in this inclusive text, you explore how to maximize your impact on your company by creating higher standards of professional conduct and greater protection against inefficiency, misconduct, illegal activity, and fraud. A key feature of this book is a detailed description of an internal audit Common Body of Knowledge (CBOK), key governance; risk and compliance topics that all internal auditors need to know and understand. There are informative discussions on how to plan and perform internal audits including the information technology (IT) security and control issues that impact all enterprises today. Modern internal auditing is presented as a standard-setting branch of business that elevates professional conduct and protects entities against fraud, misconduct, illegal activity, inefficiency, and other issues that could detract from success. * Contribute to your company's productivity and responsible resource allocation through targeted auditing practices * Ensure that internal control procedures are in place, are working, and are leveraged as needed to support your company's performance * Access fully-updated information regarding the latest changes in the internal audit industry * Rely upon a trusted reference for insight into key topics regarding the internal audit field Brink's Modern Internal Auditing: A Common Body of Knowledge, Eighth Editionpresents the comprehensive collection of information that internal auditors rely on to remain effective in their role.
This book critically examines the progress made on macroeconomic stabilization and financial sector reform in the transition economies of Central and Eastern Europe. It relates microeconomic experiences to the broader macroeconomic context of reform, and emphasises that macro reform is underpinned by micro and institutional reform, especially in the financial sphere. Key features include: * bank and enterprise restructuring and the progress towards the resolution of banking and bad debt problems * implications of bank and enterprise restructuring for corporate governance and company performance * an evaluation of bank-enterprise relationships * exchange rates and capital flows, with an analysis of the capital inflow problem and the performance of fixed exchange rate regimes in the post-stabilization phase of the transition * detailed surveys of individual firm and bank behaviour and performance during the reform process. The book will be welcomed by scholars and practitioners interested in monetary and financial economics, the economics of transition and comparative economic systems.
This important book presents a new original study of the German and UK financial markets. It addresses the relationship between corporate governance, ownership and financial performance in German and UK firms floated during the 1980s. Marc Goergen uses detailed company micro-data to examine the ownership and performance of each firm from the time of its flotation to six years later. He finds that the evolution of ownership depends on certain corporate characteristics and that differences in financial performance cannot be explained simply by differences in the concentration of ownership. The book sheds new light on the important issue of whether corporate ownership influences or is influenced by financial performance. The main findings of the book have important implications for public policy and the current public debate on corporate governance and the globalisation of financial markets. They are important for established financial markets and the transitional economies of Eastern and Central Europe as well as for international scholars interested in issues of corporate governance and the performance of firms.
A mixture of academic and practitioner research, this is the most detailed book available that provides an account of open market operations. With broad international appeal it includes discussions of central bank operations in Europe, North America, Australia and Japan.
Exploring the effectiveness of short-term interest rates and other modern central bank activities in monetary policy and the effect of structural changes in the securities markets and greater liquidity upon them, this volume represents a unique exchange of views between central bankers. It covers a range of topics including:
Covering the full range of the subject, both the issues and geographically, in a logical order and in a coherent style the, this set of carefully selected papers on a common theme are an essential read for undergraduate and postgraduate students studying Macroeconomics, international finance and banking.
Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by an internationally recognized expert, this book, on a controversial and intensely debated topic, is the only definitive reference source available on the topics of fair value and financial reporting. This book draws chapters from a diverse range of contributors and on different aspects of the subject together into one volume.Divided into three sections, it: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical perspectives, including possible future uses, alternative measurement paradigms and how it compares with other valuation models explores fair value accounting in practice, including audit, financial instruments, impairments, an investment banking perspective, approaches to fair value in Japan and the USA, and Enron's use of fair value.An outstanding resource, this Companion is an indispensable resource that is deserving of a place on the bookshelves of both libraries and all those working in, studying or researching the areas of international accounting, financial accounting and reporting.
This book is a companion volume to the author's classic The Capital
Budgeting Decision and explores the complexities of capital
budgeting as well as the opportunities to improve the decision
process where risk and time are important elements.
There is a long list of contenders for the next breakthrough for making capital budgeting decisions and this book gives in-depth coverage to:
Money and Macroeconomics is a significant collection of David Laidler's most important papers on the so-called `monetarist counter-revolution'. This volume contains both published and unpublished examples of his influential contribution, detailing empirical work on the demand for money, the economics of inflation, the foundations of the `buffer stock' approach to monetary theory, the monetarist critique of new classical economics and issues of economic policy. David Laidler has also prepared a personal memoir to accompany his volume which gives a revealing account of his academic career and influences, and places each essay in its original intellectual context. Money and Macroeconomics presents in one volume David Laidler's most important contributions to monetary economics. It will be invaluable to monetary and financial economists as well as policy makers and historians of economic thought.
This is a self-contained treatment of all the of the accounting and finance needed for students to be able to work effectively at the highest levels within business. It is written in a readily accessible style, covering three key areas: financial accounting, including the analysis and forecasting of accounting information; management accounting; and corporate finance. The focus is on the interpretation and analysis of accounting and financial information and is especially relevant for courses in either accounting, finance and financial management. The book is filled with examples taken from the practical world of business and draws on the authors' extensive experience of the problems of the senior manager. The style is designed to make the subject easily accessible even for the student who finds numbers and analysis challenging. A suite of teaching materials is available for download including tips and templates to help establish a new course of study. -- .
Until now there were no published analyses of the recent solvency work conducted in Europe, specifically the risk categories proposed by the International Actuarial Association (IAA). Answering the insurance industry's demand in the wake of the EU Solvency II project, Solvency: Models, Assessment and Regulation provides a concrete summary and review of solvency and inspires additional work in the field. Following an introduction to the concept, the first section of the book provides a historical review of solvency, detailing solvency regulation and accounting within the EU. A review of the steps leading to Solvency II looks at accounting, supervision, the actuarial field, the first phase of Solvency II, international approaches to banking, and the solvency systems of 12 major nations. The second section explores the current basis for solvency modeling, focusing on the valuation of assets and liabilities, dependency and various conservative approaches, as well as a baseline and benchmark approach. This section also provides examples of risk structure and the effects of diversification. The final section discusses groups and internal modeling as it relates to EU Solvency II. It addresses insurance groups, financial conglomerates, reinsurance, the importance of internal modeling and stress testing, and the current state of the second phase of EU Solvency II.
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