农业政策性银行转型问题探析

目前,我国农业政策性银行如何实现转型引起了广泛关注。本文针对农业政策性银行的实际,提出了转型的着力点应放在调整职能拓展业务范围上;切入点应放在完善内部经营机制和运行体制改革上;突破点应放在外部经营环境的改善上。     

农业政策性银行转型问题探析

目前,我国农业政策性银行如何实现转型引起了广泛关注.本文针对农业政策性银行的实际,提出了转型的着力点应放在调整职能拓展业务范围上;切入点应放在完善内部经营机制和运行体制改革上;突破点应放在外部经营环境的改善上.     

我国政策性银行的改革与发展

迄今，我国政策性银行建立和运作已近十年，为我国经济建设、宏观调控、农业发展和对外贸易的发展发挥了重要作用。但另一方面，政策性银行的建立和发展中也暴露出了诸多矛盾和问题。解决这些问题应加强政策性金融领域的立法工作；完善我国政策性金融体系；解决政策性银行发展的动力机制问题，转变政策性银行的经营机制；赋予政策金融机构在决定贷款投向上的自主权；允许政策行银行利率在一定范围内浮动；解决政策性银行的资金来源问题；允许推出政策性金融创新产品和业务。     

论政策性银行立法的有关问题

本文对政策性银行立法的有关问题、特别是中国政策性银行立法的有关问题进行了探讨。文中首先探讨了国外政策性银行立法的一些特点； 然后对中国政策性银行立法的有关问题， 包括我国现行主要的政策性银行立法文件、我国现行政策性银行立法存在的问题、制定中国政策性银行法的必要性、制定中国政策性银行法应注意的问题等进行了研究分析； 最后， 作者就中国政策性银行法应包括的主要内容提出了自己的意见和建议     

中国农业发展银行基于开发性金融理论的转型思考——以农发行乌兰察布市分行为实证

随着我国金融体制改革的不断深化，国有政策性银行的改革也越来越为人们所普遍关注，目前中国国家开发银行已成功实现商业化转型．中国进出口银行的改革计划也已提上议事日程，而同为三大政策性银行之一的中国农业发展银行的改革方案却迟迟没有定论。本文以开发性金融理论为基础，以农发行乌兰察布市分行经营数据为实证。对农发行基于开发性金融的转型进行了有益的探讨，并对转型动因、转型依据和转型优势进行了详细说明。     

在转型中实现发展——对农发行互助县支行的调查

政策性银行转型，是对政策性银行的发展目标、经营模式、体制机制等进行战略性调整，是政策性银行发展进程中一次极为深刻的变革。目的在于增强对市场经济的适应能力，实现又快又好发展，进一步强化支持经济发展的功能。     

农发行职能定位应把握好几个问题

随着我国社会主义市场经济建设的不断进步，传统意义下政策性银行的历史性阶段任务也随之完成，其传统作用（即依靠国家资源提供政策性信贷资金）逐渐受到质疑，政策性银行走向转型势在必行。     

政策性银行转型要闯三道关

2006年1月5日中国人民银行召开的工作会议上,央行有关负责人表示,国家开发银行、进出口银行、农业发展银行等三家政策性银行的改革将在2006年正式启动。之前,专家一直呼吁,在大力推进国有商业银行改革的同时,决策层应帮助政策性银行尽快实现转型,通过建立现代银行制度,实现机构的可持续发展,进而服务于国家政策和战略导向。随着国内经济发展步伐不断加快, 当前的经营环境已然将传统意义上的政策性银行推入到一个尴尬的处境。政策性银行若不乘势突破原来的职能定位, 不仅其本身的生存发展成为“老大难”问题,而且我国经济将因政策性银行改革滞后,无法开足马力突破新时期的瓶颈领域。     

新形势下我国政策性银行转型的模式选择

政策性金融是与商业性金融相对应的,是现代金融体系的重要组成部分。继国有商业银行股改之后,三大政策性银行的转型问题已成为国内金融改革的又一个焦点。本文对中国三大政策性银行的发展历程及其现状、当前政策性银行发展过程中存在的突出问题、国外政策性银行转型的趋势和做法进行分析,结合我国目前实际对政策性银行改革的四种模式进行了比较和探索。     

金融危机背景下日韩政策性银行转型及其启示——基于DBJ和KDB的转型分析

本文剖析了日本政策投资银行和韩国产业银行在金融危机背景下商业化转型的最新动态,并对两家政策性银行在此次全球金融危机中的应对举措进行了分析。最后总结和归纳了两家政策性银行商业化转型带来的启示和经验,并对我国政策性银行的商业化转型提出了若干政策建议。     

Bayesian Premium Rating with Latent Structure

We propose a fully Bayesian approach to non-life risk premium rating, based on hierarchical models with latent variables for both claim frequency and claim size. Inference is based on the joint posterior distribution and is performed by Markov Chain Monte Carlo. Rather than plug-in point estimates of all unknown parameters, we take into account all sources of uncertainty simultaneously when the model is used to predict claims and estimate risk premiums. Several models are fitted to both a simulated dataset and a small portfolio regarding theft from cars. We show that interaction among latent variables can improve predictions significantly. We also investigate when interaction is not necessary. We compare our results with those obtained under a standard generalized linear model and show through numerical simulation that geographically located and spatially interacting latent variables can successfully compensate for missing covariates. However, when applied to the real portfolio data, the proposed models are not better than standard models due to the lack of spatial structure in the data.     

The development of the group accounts disclosure system in Japan

The Japanese disclosure system of consolidated statements was introduced in 1977 and extensively revised in 1997. The role of the bureaucracy has been significant in these developments and seems to be part of Japan's closed culture. However, other explanations could also be applied. In particular, although Japanese firms opposed such disclosures on the basis of preparation costs, the Japanese government had to modernize the disclosure system, including consolidation, in order to develop the securities market regardless of an individual company's interests.     

Moments of Compound Mixed Poisson Distributions

Recursive formulae are derived for the evaluation of the moments and the descending factorial moments about a point n of mixed Poisson and compound mixed Poisson distributions, in the case where the derivative of the logarithm of the mixing density can be written as a ratio of polynomials. As byproduct, we also obtain recursive formulae for the evaluation of the moments about the origin, central moments, descending and ascending factorial moments of these distributions. Examples are also presented for a number of mixing densities.     

The designing of corporate accounting law in Japan after the Second World War

After the Second World War, during the neutralization of the controlled economy of wartime Japan, a design for a Corporate Accounting Law was elaborated by the Investigation Committee on the Business Accounting System. The Investigation Committee tried to establish not only new business accounting standards but also a central and independent administrative organ of corporate accounting regulation on the basis of the Corporate Accounting Law. The Corporate Accounting Law was expected to lay the legal foundation of the new corporate accounting regulation regime in Japan. Nevertheless, even though the original design of the fundamental accounting law was never realized, it should be considered the starting point for our understanding of external accounting history in post-war Japan.     

The deliberation around accounting techniques: accounting for depreciation and foreign exchange in an Indian jute company, 1870-1900

This paper examines the way two accounting techniques, namely depreciation and foreign exchange, were deliberated on, between 1870 and 1900, in an Indian jute company whose shareholders resided in the UK. The arena for these deliberations was the conflictual relationship between controlling and non-controlling shareholders as to how best to account for depreciation and foreign exchange especially when the particular accountings affected distributional issues such as the dividend decision. The purpose of this paper is to analyse and explain the processes by which a company's accounting practices emerge and develop as a contest between different interests. Accounting framed the parameters of the deliberations and provided the language of power and dissent. The paper uses a rich archive that includes narrative and accounting material.     

Short-sale refinancing and price adjustment speed to bad news: Evidence from a quasi-natural experiment in China

Short selling may accelerate stock price adjustment to negative news. However, the literature provides mixed evidence for this prediction. Using short-sale refinancing and a staggered difference-in-differences (DID) model, this paper explores the effect of short selling on stock price adjustment. Our results show that (1) short-sale refinancing improves the speed of stock price adjustment to negative news. This result holds after we control for endogeneity. (2) The positive relationship between short-sale refinancing and stock price adjustment speed is significant in subsamples of stocks with higher earnings management or lower accuracy of analyst forecasts, indicating that firms with more opaque information are more likely to be targeted by short sellers. In subsamples of stocks with a higher ownership concentration or lower ownership by institutional investors, short selling is more likely to increase the speed of stock price adjustment, indicating that ownership structure may influence negative news mining. (3) As short-sale refinancing exacerbates the absorption of bad news by stock prices, it increases crash risk. This study enriches the research on the economic consequences of short selling and provides empirical evidence supporting regulations on short selling in China.     

Pricing Dynamic Insurance Risks Using the Principle of Equivalent Utility

We introduce an expected utility approach to price insurance risks in a dynamic financial market setting. The valuation method is based on comparing the maximal expected utility functions with and without incorporating the insurance product, as in the classical principle of equivalent utility. The pricing mechanism relies heavily on risk preferences and yields two reservation prices - one each for the underwriter and buyer of the contract. The framework is rather general and applies to a number of applications that we extensively analyze.     

Guidelines for Manuscripts Submitted to The China Journal of Accounting Research

正The China Journal of Accounting Research"CJAR"(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditing and corporate governance issues that relate to the greater China region.We welcome the submission of both theoretical and empirical research papers pertinent to researchers,regulators and practitioners.Authors should note:1 Submissions must be original     

Guidelines for Manuscripts Submitted to The China Journal of Accounting Research

正The China Journal of Accounting Research"CJAR"(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditing and corporate governance issues that relate to the greater China region.We welcome the submission of both theoretical and empirical research papers pertinent to researchers,regulators and practitioners.Authors should note:     

The China puzzle: Opportunities for accounting research

How can China achieve phenomenal economic growth despite what is considered as 'weak' institutions in market-based economies? Xu(2011) provides a framework to u...