资本跨境运作

作为大型企业CFO,应切实了解企业对跨境资本运作的意愿、目的,进而切实推进企业跨境资本运作,引导企业“走出去”和借力境外资本市场“引进果’,促进经济转型升级。     

境外IPO“汇”变

近年来,随着我国资本项目的不断开放,人民币不断增值,加上企业“走出去”战略的不断实施,境内企业境外上市及再融资不断增多,境外上市公司与境内企业之间发生的投融资交易已成为跨境资本流动的主要形式之一。在越来越多的企业为解决资金问题把通过境外上市作为融资谋发展的便捷之路时,管理部门应如何规范企业境外上市运作过程中出现的问题,促进企业境外上市融资活动的积极健康发展,是实施“走出去”发展战略中的重要环节。     

新时期中国对外直接投资影响因素的新变化

本研究基于Dunning的国际生产综合理论,并引入生命周期动态理论,基于2003-2015年中国对外直接投资国别面板数据,探索了世界金融危机以来中国对外投资的新变化.结果表明:东道国的市场规模、资源稟赋、战略资产稟赋、制度质量以及中国对东道国的出口等因素都对中国的对外直接投资产生影响,但在发达国家和发展中国家的表现有所不同.世界金融危机以来,中国的对外直接投资越来越倾向投资于高政治质量的东道国,并且越来越少的被东道国的自然资源稟赋所吸引,这些结果都符合并反映了中国经济自身发展的新变化.     

中国在澳洲的投资转型

随着中国经济的稳定上升和政府不断鼓励企业“走出去”,中国企业到澳大利亚发展和投资的兴趣也日益增长。     

不能承受的“谎言”之轻

今年以来登陆美国市场的中国概念股遭遇了“滑铁卢”,被集体“沽空”,股价普跌,甚至被停牌或勒令退市。在这场持续了大半年的中国概念股风波中,中国“走出去”企业的软实力形象颜面扫地。诚然,不能否认在这次集体沽空的背后有着诸多不可告人的阴谋。但是,毋庸质疑,在弱肉强食的市场环境中,苍蝇不叮无缝的蛋。毕竟多空双方利益的较量构筑了市场的生态平衡。     

“走出去”的最优税筹——境外所得税抵免制度对中国企业境外投资架构的影响及对策

从国际税收筹划角度,就125号文对中国企业境外控股架构的影响进行解析,可以帮助企业对境外投资进行更有效的筹划和安排。     

基于两阶段模型的中国海外石油投资区位选择影响因素研究

以中国石油进口来源国为样本,综合考虑东道国国内生产总值、石油资源、东道国与中国经济贸易情况以及东道国政治与商业风险情况等因素,选择了17个变量,利用Heckman Two-Stage模型分析了这些因素对中国海外石油投资区位选择决策的影响.研究结论指出,中国海外石油投资国家选择与其在选定国家投资规模的影响因素有所不同.前者主要受东道国GDP规模、GDP增长率、腐败控制力度等的影响,后者则受东道国GDP规模、石油出口能力、经济稳定状况的影响更加显著.另外,东道国货币价值及东道国法律制度情况对两者都产生显著的影响,但作用正好相反.     

北京六建奏响“走出去”主旋律

北京六建集团公司早在五年前就高瞻远瞩地提出了“立足北京．开拓外埠，放眼全球”的战略。     

优化“走出去”的资金配置

应该说,中国企业有了较长“走出去”的历史,由产品远销海外发展到技术甚至“公司”远销海外,这一过程人都遵循着生物演化的逻辑与次序——由小到大,由简单到复杂。然而,无论何种“走出去”模式或阶段,企业运营环节仍然离不开“货币的腾挪迭转”这一亩三分地。对“走出去”企业而言,优化资产负债表列永的多种币种的组合和配置元疑是个较大的挑战。     

基于遗传算法证券市场违规交易数据智能搜索

通过对我国证券市场中的内幕交易"老鼠仓"问题的研究,力图设计一个基于遗传算法的证券内幕交易异常数据自动检索系统,用来监控股票的违规操作.系统通过将遗传算法的快速搜索与异常处理判断模块结合,对出现异常波动的股票进行实时行情数据的跟踪、分析与调查,从中找出异常数据.之后再对这些异常数据进行比较和判断,定位该股是否具有违规的"老鼠仓"交易嫌疑,以此为证监部门判断某股是否有"老鼠仓"嫌疑提供依据.     

Nano boundary layers over stretching surfaces

In this paper, we present similarity solutions for the nano boundary layer flows with Navier boundary condition. We consider viscous flows over a two-dimensional stretching surface and an axisymmetric stretching surface. The resulting nonlinear ordinary differential equations are solved analytically by the Homotopy Analysis Method. Numerical solutions are obtained by using a boundary value problem solver, and are shown to agree well with the analytical solutions. The effects of the slip parameter K and the suction parameter s on the fluid velocity and on the tangential stress are investigated and discussed. As expected, we find that for such fluid flows at nano scales, the shear stress at the wall decreases (in an absolute sense) with an increase in the slip parameter K.     

Control over plate vibrations by boundary forces

The problem of control over plate vibrations is considered for the case when absolute values of controlling forces are bounded. The aim of the control is to get the plate into the so-called “ɛ-neighborhood” of the rest state in finite time.     

Integration over non-rectifiable curves and Riemann boundary value problems

In this paper we introduce an alternative way of defining the curvilinear Cauchy integral over non-rectifiable curves in the case of complex functions of one complex variable. Especially the jump behavior on the boundary is considered. As an application, solvability conditions of the Riemann boundary value problem are derived on very weak conditions to the boundary. Besides the complex case the consideration can be extended to the theory of Douglis algebra valued functions.     

Determination of the boundary value problem of the electromagnetic field over a closed regular boundary

The main aim of this theoretical study is to verify the uniqueness of the solution of boundary value problem defined by specifying the tangential components of the electromagnetic field over the closed regular boundary of a limited region containing a linear dielectric material. So, we have evaluated the components of the electric and magnetic fields and found that both fields do not vanish in any subregion or region, and the uniqueness of the solution is proved in case of both fixed and continuously varying dielectric.     

Beurling type quotient modules over the bidisk and boundary representations

This paper mainly concerns Beurling type quotient modules of H²(D²) over the bidisk. By establishing a theorem of function theory over the bidisk, it is shown that a Beurling type quotient module is essentially normal if and only if the corresponding inner function is a rational inner function having degree at most (1,1). Furthermore, we apply this result to the study of boundary representations of Toeplitz algebras over quotient modules. It is proved that the identity representation of C^∗(Sz,Sw) is a boundary representation of B(Sz,Sw) in all nontrivial cases. This extends a result of Arveson to Toeplitz algebras on Beurling type quotient modules over the bidisk (cf. [W. Arveson, Subalgebras of C^∗-algebras, Acta Math. 123 (1969) 141-224; W. Arveson, Subalgebras of C^∗-algebras II, Acta Math. 128 (1972) 271-308]). The paper also establishes K-homology defined by Beurling type quotient modules over the bidisk.     

Radiation field of whispering gallery waves over a concave-convex boundary

In this work the wave field arising over a concave-convex reflecting boundary is studied in the Kirchhoff approximation. The field arises as a result of the incidence of whispering gallery waves on an inflection point of the boundary from the concave side. The shortwave asymptotics of the Kirchhoff integral are obtained which is expressed in terms of special functions in a neighborhood of the inflection point of the boundary and in a neighborhood of the tangent to the boundary at the inflection point. Diagrams are constructed that illustrate the behavior of the scattered field.Translated from Zapiski Nauchnykh Seminarov Leningradskogo Otdeleniya Matematicheskogo Instituta im. V. A. Steklova AN SSSR, Vol. 104, pp. 49–65, 1981.     

Laminar boundary layer over a flexible surface in oscillatory flow

A two-dimensional oscillatory flow over a flat flexible surface is analysed. Low and high frequency solutions are developed separately. Results depicting the effect of surface flexibility on the flow in comparison to that over a rigid surface are presented.     

Elliptic boundary value problems of fluid dynamics over unbounded domains

In this paper we develop a Clifford operator calculus over unbounded domains whose complement contains a non‐empty open set by using add‐on terms to the Cauchy kernel. Using the knowledge about the Poisson equation allows us to prove a direct decomposition of the space , which will be applied to solve the linear Stokes problem in scales of ‐spaces over this kind of unbounded domains. This result will be used to investigate the Navier–Stokes equations by means of a Banach contraction principle. In the end, steady solutions of stream problems with free convection will be studied. Copyright © 2000 John Wiley & Sons, Ltd.