It has been established that a cationic rhodium(I)/H8-binap or binap complex catalyzes two different modes of cyclization of ホウ-alkynyl aldehydes with carboxylic acid anhydrides to give cyclic aldehyde gem-dicarboxylates and cyclic alkenyl esters through cleavage of the carboxylic acid anhydride C-O bond. The reaction of a terminal ホウ-alkynyl aldehyde with di-Et pyrocarbonate afforded a cyclic allylic carbonate with a high ee value. [on SciFinder(R)]