虚拟经济条件下的资本市场与宏观经济分析

200211246ModernEconomicScienceNov1,2002Vol124No16X,(,300071):20,,,,,:;;:F123116:A:1002-2848(2002)06-0069-042030,,,,20,,,2070,,,,,,,,,,,,,,,,,,,,96X:2002-10-08:(1956-),,,,,:;(1976-),,,,,,,,,,,,,,,,,,,,,,,,,,,,,11,,,,,,,,,,,:W+De+R+=GDP,W,De,R,,,,,,,,GDP,,,,,,:Y=C+S;S=DS+EDS,E07,,,,,,,,,:D1=f(DS;E)D1;E,,,,:E=E+E2.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,17,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,:,J.M.,1986:,:,J.M.,1999:,:,1989:,:,1998:,,1994::,,2000::,:,2000:,5,1999:,5(:)27KeyWords:financialengineering;riskmanagement;financialproductCapitalMarketandMacroeconomicsintheFictitiousEconomyLIUXin,GUOJin2xing(theEconomyInstituteofNankaiUniversiy,Tianjin,300071,China)Abstract:Alongwiththefictitiouseconomyfastdevelopingsince1970s,weneedanewmacroeconomictheorythatcanlinkcapitalmarkettheorytomacroeconomictheory.Thisarticletriestotakecapitalmarketasanendogenouspartofeconomy,andtorelatecapitalmarketwithhouseholds,firmsandbanks,thustoanalyzemacroeconomicfluctuationmoreprecisely.KeyWords:theFictitiousEconomy;CapitalMarket;MacroeconomicsGovernanceMechanismofCentralandLocalTaxPowerinTransitionalPeriodLIXiang2ju(SchoolofEconomicsandFinance,XianJiaotongUniversity,Xian710061,China)Abstract:Theissueoftaxpowergovernancebetweenthecentralgovernmentandthelocalgovernmenthasbeenaheadache.Thesoberreformersshouldkeepproperlybalancedcentralizationanddecentralization.Neitherhighcentralizationnorblindlynon-restrictivedecentralizationwilldogoodtosolvingtheproblem,unlesssoundinstitutionsareestablished.KeyWords:transitionalperiod;taxpower;internationalexperienceforreference;governancemechanismANewDiscoveryinCurrentAuditingRelation:theDistortedRole,ThinkingandSystemFENGJun2ke(SchoolofAccounting,XianJiaotongUniversity,Xian710061,China)Abstract:Throughtheanalysisofnon-governmentalauditingrelationincurrentauditingmarket.Itcanbeseenclearlythatadislocation,tovaryingdegrees,hasoccurredtobothrealandidealpartsplayedbythethreetypesofauditingrelationalpersons,whichresultsinthechaoticauditingrelationorder.Sincethesethreetypesofpersonslookontheothertwoaspectsinauditingrelationsindifferentthinkingway,thecoordinationofauditingrelationshasbeenbesetwithdifficulties;theauditorshaveundertakenmoresocialresponsibilities.Thepaperholdsthatthearrangementofpresentauditingsystemthatservestheinvestors,maybecomeamereformalityinthecourseofpractice,thustheinvestorsinterestsbeingignoredtoacertainextent.KeyWords:auditingmarket;auditingrelation;auditingrelationpersonAtentativeProbeintotheStrategicM&AofTransnationalEnterprisesAnInspirationfromClassicalCasesSHENMi2ling(DepartmentofTradeandEconomics,NorthwestInstituteofPoliticalScienceandLaw,Xian710063,China)Abstract:The1990shaveseentherapidstrategicM&A,notonlyonlargescale,butalsoindiverseforms,thusbecomingthebasicwayofcapitalflowsandcapitalrestructuring.ThroughtheintroductionandanalysisofthebackgroundoftransnationalstrategicM&Aandtheclassicalcases,thispapercomesupwithproposalsandcountermeasuresinpracticingstrategicM&A.KeyWords:strategicM&A;classicalcase;inspiration;proposal;countermeasure49