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Research on Existing Problems and Countermeasures of Budget Performance Evaluation of Public Institutions in China from the Perspective of the New Budget Law
Issue:
Volume 7, Issue 1, January 2019
Pages:
1-8
Received:
5 November 2018
Accepted:
13 December 2018
Published:
24 January 2019
Abstract: Budget performance management is not only the core element of financial management of public institutions in China, but also an important basis for public institutions to perform their duties. Budget performance evaluation is an important carrier of budget performance management. It assumes the important functions of optimizing resource allocation and controlling cost. Its level is an important indicator to measure the scientific management of public institutions. Strengthening budget management and improving expenditure efficiency and effect are the key points of the new budget law. Combined with the current situation of public institutions in China, this paper analyzes and studies the challenges faced by public institutions and the problems existing in budget performance evaluation after the implementation of the new budget algorithm, and puts forward corresponding countermeasures and Suggestions, hoping to provide important support for strengthening budget management and improving the level of budget management of public institutions in China.
Abstract: Budget performance management is not only the core element of financial management of public institutions in China, but also an important basis for public institutions to perform their duties. Budget performance evaluation is an important carrier of budget performance management. It assumes the important functions of optimizing resource allocation ...
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Predictability of Financial Crisis via Pair Coupling of Commodity Market and Stock Market
Issue:
Volume 7, Issue 1, January 2019
Pages:
9-16
Received:
20 December 2018
Accepted:
14 January 2019
Published:
31 January 2019
Abstract: The complex interactions between stock market and commodity market in financial crisis has been investigated by many researchers, but there is less known about how useful the pair coupling of the two markets for predicting financial crisis, where the pair coupling is the hidden essence of market interactions. This article investigates three kinds of couplings, namely time coupling, frequency coupling and space coupling, which are the different aspects of the pair coupling. In addition, a two-layer model, namely CHMM-ANN, is proposed to investigate the couplings and evaluate the predicting abilities based on the couplings. Coupled Hidden Markov Model (CHMM) is adopted at the bottom level to capture the hidden couplings, and then the couplings are put as input to classical Artificial Neural Network (ANN) at the top level to predict financial crisis. The experiment results on real financial data confirm the advantages of the pair coupling in predicting financial crisis.
Abstract: The complex interactions between stock market and commodity market in financial crisis has been investigated by many researchers, but there is less known about how useful the pair coupling of the two markets for predicting financial crisis, where the pair coupling is the hidden essence of market interactions. This article investigates three kinds o...
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The Impact of Fiscal Policies on R&D at the Firm Level
Issue:
Volume 7, Issue 1, January 2019
Pages:
17-21
Received:
20 December 2018
Published:
1 February 2019
Abstract: The existing researches about the effects of public policies on promoting enterprise innovation are mostly on large enterprises, but few on small and medium-sized enterprises. The literature on small and medium-sized enterprises in developing countries is even less. As an important part of the world economy and an important representative of developing countries, it is necessary to study the impact of China's public subsidies and tax incentives on the innovation and research and development of Chinese SMEs. Based on the relevant enterprise data, using the LSDV model, this paper empirically finds that the Chinese government's fiscal subsidy policies indeed promote enterprise innovation. After controlling for the year fixed effect and industry effect, government subsidies did stimulate enterprises' R&D investment, but the stimulus effect was very weak. Considering the endogeneity of public subsidies, the author added the lag term of public subsidies into the model, and the promotion effect of the policy was significantly enhanced. With the expansion of enterprise scale and the passage of enterprise establishment years, enterprise innovation investment decreases. The conclusion of this paper provides a basis for the government to formulate relevant policies. Government subsidies should be increased for newly established companies and for small and micro businesses.
Abstract: The existing researches about the effects of public policies on promoting enterprise innovation are mostly on large enterprises, but few on small and medium-sized enterprises. The literature on small and medium-sized enterprises in developing countries is even less. As an important part of the world economy and an important representative of develo...
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Disclosure of Critical Accounting Judgments and Key Sources of Estimation Uncertainty in the Financial Statements of Companies in Nigeria
Clement Chiahemba Ajekwe,
Adzor Ibiamke
Issue:
Volume 7, Issue 1, January 2019
Pages:
22-31
Received:
17 December 2018
Accepted:
28 December 2018
Published:
11 May 2019
Abstract: This paper performs a thematic survey of published financial statements of 17 consumer goods companies listed on the Nigerian Stock Exchange (NSE) to investigate their level of compliance with regulatory requirements regarding disclosure of critical accounting judgments and major sources of estimation uncertainties in their financial statements. High quality disclosures in this area enable users to assess the quality of managements accounting policy decisions and the likelihood of future changes in the amounts appearing in the financial statements in a way that generic disclosures do not. Data was collected from the annual reports and accounts of the sampled companies in the financial reporting year ended in 2017. Using descriptive statistics and content analysis, it was found that firms provide some disclosures, but the information is not sufficiently informative to give users meaningful insights. Overall, the level of disclosure fell short of the intentions of the relevant regulatory requirements. The findings suggest that in addition to the guidance in the IFRS illustrative examples, it may be necessary to train accountants and auditors in Nigeria on disclosing accounting critical judgments and key sources of estimation uncertainties in compliance with regulatory intentions and requirements thereby increasing the informational value of these disclosures in financial reports.
Abstract: This paper performs a thematic survey of published financial statements of 17 consumer goods companies listed on the Nigerian Stock Exchange (NSE) to investigate their level of compliance with regulatory requirements regarding disclosure of critical accounting judgments and major sources of estimation uncertainties in their financial statements. Hi...
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