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20104181JOURNALOFZHONGNANUNIVERSITYOFECONOMICSANDLAW.4.2010BimonthlySerial.181(,200030):,,,,,,:;;;:F810.422:A:100325230(2010)0220065206,,,,,,,,,,,,(60%),(GDP)70%,,,,2009,4216%,,,(20075218%6415%5617%),,,,,,,,,,,:2010205212:(1972),,,,56,,,,,,,,,,,,()1984,,10,,,,,,,,,,1984,3,,,,,,,,,,,,,1984,,()1994,1992,,,,,,,,1994,,:,,;,,;,3%5%,,()2004,200210,12,,,,1994,,,2004,,662009,,6%4%3%,,,,,,,,19942004,1994,,,,,,,,,,,:(),,2009GDP19949,5914%7519%,,,,,,,,,2009,,,20071612%,(2419%)(2317%)(3510%),(714%)(616%)(1210%),,,,,(),,,019%,215%,1215%,815%,4%,,3%5%,,,:,,,[1]2009,(1500,10%),,,(),,,76,,,,,,,1994,,,1994,,,,,,,;,,,,,[2],(),,,,,,,,11(),,,,,,,;,,,70%,,,,,,,,,,,,,,,,,,,,,86,,,,,,,,,,,,,,(),:,,;,,,;,,,,,150,:,,,,,;,,,,,,(VAT);,,,,,,(goodsandservicetax,GST)[3],,,,,1986,,30,,,(),,,,,,,,,,,,7525,200918481,13916,4565;9014,33.8%,[4],,,,,,,,17%,13%,3%,,,,96,,,,,,,,(17%),;17%,13%,;,,,,,,,,[5],,,,,;,,,,,,,,,,,(),,,,,,3%,,,,,,,,,:(),,,,,,,,,:[1].[N].,2009-03-06(A10).[2].[J].,2009,(5):8-17.[3].[J].,2009,(12):38-40.[4].[J].,2009,(8):48-50.[5],.[J].,2009,(12):36-38.(:)07controlrightsandresidualclaimrightsunderthebalanceamongresponsibility,rightandobligation.Corporatepropertyrightsoptimizationcanberealizedbymeansofcorporategovernance,whichisgoodtopropertyrightsimprovementifbetterment.Lastbutnotleast,residualpropertyrightsandsurpluscorporategovernanceisaconcentrateddistrictofcorporatepropertyrightsoptimization.Keywords:PropertyRightsOptimization;AccountingFunction;SurplusCorporateGovernanceASurveyoftheTheoryofTwo2SidedMarketinIndustrialOrganizationXIONGYan49(SchoolofEconomics,DongbeiUniversityofFinanceandEconomics,Dalian116025,China)Abstract:Inthereviewofthetheoreticalliterature,thepaperexpoundstheconclusionsoftherelativeresearchfromdefinition,characteristics,structure,behaviorandperformanceoftwo2sidedmarket.Ultimately,Theauthorbelievesthatthetheoryandpracticeofthetwo2sidedmarketwillbead2vancedinthreemajortrends:thescopeofmarketperformanceinthetwo2sidedmarketwillbefur2therexpanded;thestudyofthetwo2sidedmarketpolicywillbecomeamajortrendoffuturedevelop2ment;theempiricalanddynamicanalysisofthetwo2sidedmarketwillbegraduallystrengthened.Keywords:IndustryOrganization;Two2SidedMarket;PlatformIndustryServiceIndustriesDevelopmentandReformofGoodsandServiceTaxSysteminChinaWEILu65(SchoolofInternationalandPublicAffairs,ShanghaiJiaoTongUniversity,Shanghai20030,China)Abstract:Itsaninevitablechoicetodeveloptheserviceindustriesinordertochangethedevelopmentmodeandadjusttheeconomystructure.TheemphasisofreformofGoodsandServiceTax(GST)SysteminChinaisnearlyonthegoodssincereformandopening.Thebusinesstaxappliedtotheserviceindustrieshashamperedthedevelopmentoftheserviceindustries.ThemodernValue2Addedtax(VAT)shouldbethegoalofGSTsreforminChina.ThisreformshouldbecombinedwiththereformofwholetaxsystemandfiscalmanagementsysteminChina.Keywords:ServiceIndustries;GoodsandServiceTax,BusinessTax;Value2AddedTaxReviewoftheImpactofManagersPsychologicalandBehavioralBiasonCorporateInvestmentSHENGHuRAOYulei77(SchoolofBusiness,CentralSouthUniversity,Changsha410083,China)Abstract:Managersirrationalbehaviorhasimpactonthecorporateinvestmentdecisions.Alotofliteratureshavetheoreticallyanalyzedandempiricallystudiedthemanagerspsychologicalandbe2havioralbiasontheimpactofcorporateinvestment.Suchasheuristicbias,overconfidence,myopicandsoon,itwillcausemanagerirrationalbehavior.Whilethemanagerspsychologicalandbehav2ioralbiassuchaslossaversion,envy,andherdbehaviorhaveonlystudiedbyuseofcases.Experimentaleconomicshasanimportantinfluenceontheresearchoftheimpactofmanagersirra2tionalbehavioroncorporateinvestment.Keywords:Managers;HeuristicBias;Overconfidence;Myopia;HerdBehavior;CorporateInvestmentSoftBudgetConstraints,Over2investmentandSeasonedEquityOfferingsSHENGMingquan1,2LIHao284(1.SchoolofBusiness,NankaiUniversity,Tianjin300071,China;2.SchoolofAccounting,AnhuiUniversityFinanceandEconomics,Bengbu233041,China)Abstract:ThispaperinvestigatestherelationsbetweenSoftBudgetConstraintsandSeasonedEquityOfferings(SEO)inChina’sListedCompanies.Firstly,onthebasisofDMdynamicmodel,thepaperconstructsthedecisionmodelofSEO;Thesampleofthepaperincludesalllistedcompaniesin2008-2009,thengetsthefollowingfindingsaftercontrollingotherinfluentialfactors:Ourlistedcompa2nyhaspreferencetoover2investmentundersoftbudgetconstraintsenvironment,andthepreferenceofthestate2ownedcompanyismorethantheprivate2ownedcompany’s.Whatsmore,ourlistedcompanysstrongpreferencetoSEOissignificantlycorrelatedwithover2investment.Keywords:SoftBudgetConstraints;Over2investment;SeasonedEquityOfferings441