炒期必知的5节课

心理因素对于炒期成功至关重要.美国投资大师杰西里费默认为,期市里只有两种情感--希望和恐惧.问题在于,当投资者该恐惧的时候却满怀希望,手里拿着亏损的头寸就是不能及时斩仓,总幻想市场有一天能朝着对自己有利的方向发展,以至于最终遭受巨亏;该满怀希望的时候却又十分恐惧,手里持有盈利的头寸时总担心盈利会跑掉,于是早早获利了解,其结果是抓了芝麻丢了西瓜.与期货交易知识、技术、系统乃至策略等只要肯付出朝夕即可掌握不同,要形成成功的投资交易心理,非得投入交易实践,持之以恒、积极主动磨练心智不可.     

北川平安希望小学600余师生转危为安63小时

从5月12日16时,在不断的强烈余震中,平安人寿四川分公司工会主席谢富康一直不停地给北川平安希望小学校长蒲春明打电话,发短信.特大地震,通信受损,无法联系的情况让人绝望.一个又一个可怕的消息接踵而来!北川受灾严重!北川中学校舍垮塌!北川县城几乎夷为平地!!但是平安没有放弃,不断地联系,但是,一直无法接通……北川平安希望小学失去联系的消息传到平安深圳总部,集团董事长兼CEO马明哲十分心焦,他嘱咐同事们一定要想办法和学校取得联系.     

冲刺，用脚步拉近生命的距离——记人保财险阿坝分公司总经理雷云

"天翻地覆"的地震 一切都发生得那么突然! 5月12日下午14点28分,当伴随巨大的轰鸣声,脚下的土地和身处的办公大楼开始剧烈地摇晃时,正在公司如常工作的中国人保阿坝分公司的干部员工们突然愣住了.当办公桌面的物品在摇摆中摔落地面,天花板在异响中掉落尘渣的几秒钟之后,有人醒悟地喊了一声"地震了,快跑!"人们这才踩着慌乱的脚步冲向门外.     

多数北京人预计今年房价不会大涨

北京市建委网站今日公布一项调查结果显示，仅百分之六的购房者表示受去年央行加息影响将终止购房计划，认为该市今年房价涨幅将超过百分之五的人不到三成。调查数据表明，北京商品住宅购房对象正趋年轻化，二十至三十岁群体是商品房购房主力，去年第四季度其占总体比重又有大幅增长，目前占近四成。     

夏斌：加息与准备金率对股市影响有限

国务院发展研究中心金融研究所所长夏斌5月19日表示,5月18日央行宣布同时上调利率和准备金率对股市具有一定影响但不会很大,需使用综合措施调控,此次措施出台的时间略迟.央行还需要结合资产价格的变动状况,进一步密切关注流动性的变化.     

强国之路30年 《中国改革开放30年学术研讨会》发言摘要

以中国共产党十一届中央委员会第三次全体会议为起点的中国改革开放事业已经走过30年的历程，在这30年中，我国的社会、经济等各个方面都发生了深刻的变化。国民经济和综合国力正在向着世界强国迈进，我们这个具有悠久历史和灿烂文化的传统文明古国，焕发出了勃勃生机，正如毛泽东同志所言：“我们正在前进，我们正在做我们的前人从来没有做过的极其伟大光荣的事业，我们的目的一定要达到，我们的目的一定能够达到!”为纪念改革开放30周年，对改革开放的历程进行总结，以期将之推向前进，本刊特开设“改革回眸与展望”栏目，对改革开放事业进行回顾与展望。[编者按]     

审计

《财富》杂志公布2015年世界500强企业名单
　　7月22日,《财富》杂志社官方网站公布了2015年世界500强企业名单。在2015年度的排行榜中,美国上榜企业数量与去年持平,仍然为128家,占世界500强总数的25.6%,而中国紧随其后占21.2%,为106家。榜单冠军仍旧是去年榜首美国企业沃尔玛,中国企业中石化表现强劲,在榜上排名比去年上升一位,排名超过壳牌石油,成为榜单亚军,荷兰壳牌石油跌至第三位。根据发布的榜单,占据后7位的企业依次为中石油、埃克森美孚、英国石油公司、国家电网公司、大众公司、丰田汽车公司、瑞士嘉能可。     

银行业从业人员资格认证专业科目考试在全国举行

2007年10月27日,中国银行业从业人员资格认证专业科目考试在全国省会城市和部分地市举行.共有22万人次银行业从业人员报名参加此次"个人理财"和"风险管理"专业科目的考试.本次考试得到了中国银监会和各银行的高度重视和大力支持,银监会纪委书记王华庆、在京各商业银行相关部门负责人分别到北京考场巡视并指导工作.     

当前我国网络金融发展现状及其问题的探究

网络金融的英文表述是Net-finance,对其概念的理解主要有三点:一是本质特性方面,网络金融是以计算机技术、网络信息技术和软件技术为支撑的融合传统和现代金融服务的现代金融运作形式.二是业务范围方面,网络金融是在互联网上开展的银行、证券、保险、期货等多种金融业务的总称.三是营运框架方面,网络金融是网络金融机构、网络电子交易、网络金融市场和网络金融监管等方面金融营运结构的总称.网络金融开启了金融服务的新时代,在我国得到了迅速的发展,但也暴露了一些问题,这些问题严重制约了我国网络金融的进一步发展.     

电梯一卡通迎来大市场

手持一张小小IC卡,某单位一名职员朝单位大门边的机器终端轻轻刷了一下,并输入一串密码,大门便自动打开.刷卡的同时,系统也记录下了他当天的出勤情况.这是深圳很多办公楼常见的一卡通智能卡系统.看着这名职员刷卡,深圳市旺龙智能科技有限公司的员工显得格外得意,因为各办公楼使用的一卡通系统全是由旺龙公司研发的.     

教育与资本怎样的前景怎样的现实

来自政府的声音: "动员各种社会资源,发展教育" 此次论坛上财政部长助理张少春的发言是最受关注的发言之一.他的演讲传达出的信息有这样几方面:第一,谈到现实,他认为全社会对教育的巨大需求与我国公共投入不足已成为我国教育事业发展的突出矛盾.近年来,以公共部门投入为主,多渠道筹措教育经费的教育投入机制成为解决这一问题的重要途径,也使得公共部门与私营部门在教育领域的合作日益密切.第二,谈到前景,他认为,1.中国经济持续、快速的增长对高技能人才产生巨大的需求,这为私营部门的参与提供了广阔空间.2.随着公共财政职能的不断完善,财政资金将在各项教育事业中重新进行分配,进一步优化财政支出结构,提高资金的使用效率.在"十一五"期间,我国将把公共支出的重点转移到农村.我们将逐步把全体农村适龄儿童的义务教育全部纳入公共财政体制.     

Debt and Taxes and Uncertainty

With a graduated personal tax schedule, Miller showed that there could be an equilibrium debt supply for the corporate sector as a whole. In the presence of uncertainty there is also a unique debt/equity ratio for each individual firm, and this ratio is related to the firm's operational risk characteristics. However, if firms merge and spin off in response to tax incentives, the identity of firms is ambiguous and only the corporate sector is a meaningful construct. These arguments are developed in both discrete and continuous models that employ extensions of the arbitrage-free pricing theory.     

East and west and north and south : A preliminary model

The Brandt report and other proposals for a new North-South world order continue to be the focus of lively debate, yet it is often argued that little concrete has emerged from their recommendations. A major reason for this, the author argues, is that the East-West conflict component is not sufficiently taken into consideration-East-West tensions are a severe constraint on and a determining factor of North-South relations. Using influence diagrams, the author develops a flexible framework for discussion and assessment of N/S-E/W relations.     

Director gender and mergers and acquisitions

Does director gender influence CEO empire building? Does it affect the bid premium paid for target firms? Less overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make acquisitions and if they do, pay lower bid premia. Using acquisition bids by S&P 1500 companies during 1997–2009 we find that each additional female director is associated with 7.6% fewer bids, and each additional female director on a bidder board reduces the bid premium paid by 15.4%. Our findings support the notion that female directors help create shareholder value through their influence on acquisition decisions. We also discuss other possible interpretations of our findings.     

Political corruption and mergers and acquisitions

This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring firms to use excess cash for payment, which mitigates the negative effect of corruption on acquirer shareholder value. The evidence indicates that acquisitions help acquiring firms convert cash into hard-to-extract assets and relocate assets from the high to low corruption areas, thereby shielding their liquid assets from expropriation by local officials.     

Trust and cross-border mergers and acquisitions

A number of studies suggest that social trust matters for investment. Using different measures of trust from World Values Survey, we show that countries where people display higher levels of trust engage in more cross-border M&A activities. When they do, these acquirers pay lower premiums. To the extent that these acquirers also tend to engage in larger acquisitions as well, our findings suggest that a larger selection pool of potential targets and higher value targets enable these acquirers to negotiate for lower premiums. We do not find evidence of the significant effect for target country trust levels. Hence, trust may benefit those acquiring firms in cross-border transactions.     

Tournament-based incentives and mergers and acquisitions

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm's CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms' stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms' managers to make greater efforts and take more risk that result in superior acquisition performance.     

Corporate Innovations and Mergers and Acquisitions

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.