印度金融外包服务业发展情况考察报告

本文作者随团赴印度进行实地考察,对印度政府推动金融外包(BPO)服务业发展方面所积累的丰富经验进行调查了解,介绍了印度金融外包服务业的发展现状和主要经验,提出了学习和借鉴印度金融外包服务业的发展经验和管理模式,大力发展我国金融外包服务业(BPO)的思路。     

金融业务流程外包服务平台建设研究

本文阐述了国际金融中心开展离岸金融业务特别是金融BPO业务的发展背景,分析金融BPO业务的功能和发展趋势,考察上海发展金融BPO业务的有利条件,强调按照"高、新、特"的原则,重点扶持金融服务外包业务(BPO)研发和人才培养,创新金融体制与市场机制,就上海建设离岸金融BPO中心与人力资源供应模式创新的整合问题提出系统、可行的建议方案.     

金融业务流程外包服务平台建设研究

本文阐述了国际金融中心开展离岸金融业务特别是金融BPO业务的发展背景,分析金融BPO业务的功能和发展趋势,考察上海发展金融BPO业务的有利条件,强调按照"高、新、特"的原则,重点扶持金融服务外包业务(BPO)研发和人才培养,创新金融体制与市场机制,就上海建设离岸金融BPO中心与人力资源供应模式创新的整合问题提出系统、可行的建议方案。     

金融业务流程外包服务平台建设研究

本文阐述了国际金融中心开展离岸金融业务特别是金融BPO业务的发展背景,分析金融BPO业务的功能和发展趋势,考察上海发展金融BPO业务的有利条件,强调按照高、新、特的原则,重点扶持金融服务外包业务(BPO)研发和人才培养,创新金融体制与市场机制,就上海建设离岸金融BPO中心与人力资源供应模式创新的整合问题提出系统、可行的建议方案。     

国际财务外包与中国适用

PREFACE/前言作为全球BPO市场的子类国际财务外包近年来发展迅速,市场规模逐渐变大,影响力逐渐增加。而对我国来说,承接国际财务外包是一项新课题,是机遇也是挑战、有优势也有劣势,因此要不断强化自身优势,解决自身问题,需要政府支持、企业进步。     

BPO推进集约化的商业模式

随着信息技术的高速发展，企业问的竞争愈演愈烈，以，降低成本为目的的非核心业务流程外包（BPO）成为了企业发展的热点。越来越多的欧美国家大型IT企业、金融机构和其他服务型企业通过BPO使企业资源得到最佳分配，降低了企业的生产成本，减少了经营风险，增强了企业的核心竞争力。面对蕴含大量商机的国际服务外包市场，越来越多有外包服务能力的国家也正在成为欧美企业理想的海外转包地。     

融和金融服务外包信息化实践

抓住国内金融改革的机遇,融和集团在现金整点金融服务外包（BPO）领域走得越来越稳、越来越成熟,最近几年,在工商银行、交通银行、农业银行等国内大型银行以及全国各地不同层级银行不断推进业务。BPO在国内是一个新的业务领域,目前市场上缺乏比较成熟的相关信息化解决方案。     

中国缩小与印度的BPO差距

<正>加拿大调研顾问公司XMGGlobal于2010年11月12日发布的研究报告显示,2010年中国的外包行业(BPO)正在稳步缩小与BPO大国印度的差距。在全球外包市场总规模中,中国占357.6亿美元,相当     

中国缩小与印度的BPO差距

加拿大调研顾问公司XMGGlobal于2010年11月12日发布的研究报告显示,2010年中国的外包行业（BPO）正在稳步缩小与BPO大国印度的差距。在全球外包市场总规模中,中国占357．6亿美元,相当于28．7％的市场份额,印度占543．3亿美元和43．7％的市场份额。     

打造西安对欧美服务外包的BPO-ITES“航母”

<正>服务外包的分类及内涵服务外包产业主要分为两大类:ITO和BPO。ITO是信息技术外包,包括互联网应用,信息管理,软件开发、硬件维护在内的委外业务;BPO从事业务流程经拆分后的数据信息采集,集成,分析等委外业务。     

OUTSOURCING AND MARKET VALUE OF THE FIRM: TOWARD A COMPREHENSIVE MODEL

We analyze the effect of buyer, contract, and vendor characteristics on abnormal stock returns among firms that have announced large scale Information Technology (IT) and Business Process outsourcing (BPO) contracts. We draw upon a comprehensive dataset on outsourcing announcements, augmented with data from public sources. Salient buyer factors examined include use of a wide range of organizational controls. On the vendor side, we examine the impact of vendor size, contract size and reputation. Our study shows that use of behavior controls, outcome controls (negative), vendor reputation, and industry of buyer firm affect market value. When limited to buyer related factors, use of behavior and clan controls is positively related to abnormal returns around IT outsourcing announcements. An interesting finding is that IT and BPO success require different sets of controls. Copyright © 2014 John Wiley & Sons, Ltd.     

TARP’s deadbeat banks

This paper tests whether poorly capitalized banks with troubled loan books are more likely to miss their bailout dividends. Privately held banks with weaker core capital ratios, more charged off loans, more allowances for loan losses, and more non-performing loans are more likely to miss their Troubled Asset Relief Program (TARP) dividends. Banks that issue non-cumulative preferred stock are also more likely to be TARP deadbeats. In addition, banks that missed a bailout dividend in the prior quarter are significantly more likely to miss the next bailout dividend.     

Openness, profit opportunities and foreign banking

Using new data from the World Bank and OCC surveys, we show correlations across a wide range of countries between foreign banking and domestic economic, financial and bank regulatory conditions. Foreign banking tended to be more prevalent in countries that were more open to foreign ownership of their banks, more open to banks’ engaging in a wider range of financial activities and more open to international trade. Restrictions on foreign ownership of domestic banks that were in place in the late 1970s reduced the current extent of foreign banking. Foreign banking was negatively correlated with current restrictions on banks’ securities, insurance and real estate activities. Countries that had more international trade tended to have more foreign banking. Foreign banking was more pervasive in countries where banking was more profitable and where the domestically-owned banking sector was smaller relative to GDP.     

外国企业来我国上市的必要性及其法律准备

中外股市都存在着三大定理,即"会有越来越多的公司上市"、"会有越来越多的资金入市"和"牛市总比熊市长"。这给我们的启迪是:要使越来越多的公司上市以扩大供给,要使越来越多的资金入市以扩大需求。为使越来越多的公司上市以扩大供给,为了建立中国的国际金融中心,就应该允许外国企业来我国上市。未来牛市格局为外国企业来我国上市提供了经济上的可行性,为此,我国要做好一系列的法律准备,包括制定专门的规范性文件,规定外国企业境内首次公开发行并上市的各种条件和程序;对外国企业在我国境内发行证券实行注册制;完善保护投资者的法律制度等。     

Director overconfidence

We examine overconfident chief executive officer (CEO) directors and find they attend more board meetings, are more likely to serve on the nominating or the compensation committee, have more independent directorships, and foster higher attendance rates on boards. Boards with overconfident directors are more likely to appoint a better prepared and more reputable CEO following a turnover. These newly appointed CEOs are also more likely to be overconfident. This evidence indicates overconfident CEO directors exhibit significant influence on the board and over the firm's CEO selection.     

Do state subsidies increase corporate environmental spending?

This study investigates the impact of state subsidies on corporate environmental spending of Chinese listed firms between 2011 and 2018, using a hand-collected data from corporate annual and environmental responsibility reports. We find a positive relationship between state subsidies and corporate environment spending, indicating firms receiving government subsidies are more likely to behave more environmentally responsible. In addition, the positive relationships are more pronounced among the non-state-owned enterprises (non-SOEs) and the firms experiencing financial constraints. It is because, non-SOEs are more likely to lose government support comparing to their SOE peers, thus making more efforts to address corporate pollution. Moreover, firms subject to financial difficulties tend to build an environmental responsible image and to contribute more in environment protection.     

Investment cycles and startup innovation

We find that venture capital-backed startups receiving their initial investment in hot markets are more likely to go bankrupt, but conditional on going public, are valued higher on the day of their initial public offering, have more patents, and have more citations to their patents. Our results suggest that VCs invest in riskier and more innovative startups in hot markets (rather than just worse firms). This is particularly true for the most experienced VCs. Furthermore, our results suggest that increased capital in hot times plays a causal role in shifting investments to more novel startups by lowering the cost of experimentation for early stage investors and allowing them to make riskier, more novel, investments.     

Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention

This paper studies a general equilibrium model that is consistent with recent empirical evidence showing that the U.S. price level and inflation are much more responsive to aggregate technology shocks than to monetary policy shocks. Specifically, we show that the fact that aggregate technology shocks are more volatile than monetary policy shocks induces firms to pay more attention to the former than to the latter. However, most important, this work adds to the literature by analytically showing how monetary policy feedback rules affect the incentives faced by firms in allocating attention. A policy rule responding more actively to inflation fluctuations induces firms to pay relatively more attention to more volatile shocks, helping to rationalize the observed behavior of prices in response to technology and monetary policy shocks.     

Corporate social responsibility,country-level predispositions,and the consequences of choosing a level of disclosure

We study the different levels of corporate social responsibility (CSR) disclosures of the largest European firms. We find that firms are more predisposed to disclose more CSR information in countries with better investor protection, higher levels of democracy, more effective government services, higher quality regulations, more press freedom, and a lower commitment to environmental policies. Our analysis of the association of different levels of CSR disclosure with share prices indicates that a high level of CSR disclosure is associated with higher share prices, whereas a low level of CSR disclosure in sensitive industries is associated with lower share prices (compared to no disclosure). These results are also present when we analyse changes in CSR disclosure and are robust to the inclusion of an accounting quality measure in our model. The overall effect of the association of higher levels of CSR disclosure with higher share prices is stronger in countries with more democracy, more government effectiveness, better regulatory quality, and more press freedom. Therefore, market participants find CSR disclosures more informative in countries where investors are in a better position to voice their concerns and where there is better regulation and more effective government implementation of regulations.     

The Size and Structure of the World Mutual Fund Industry

This paper analyses the mutual fund industry for 20 countries using a new database of more than 50,000 mutual funds. The results suggest that more developed industries provide more benefits to investors as they diversify more internationally, charge lower annual charges and present more product sophistication. The results also have important policy implications by emphasising the role of competition and contestability in industry development. Fewer barriers to entry are positively associated with a larger industry, and concomitantly with more efficiency in terms of returns and fees.