审计监察需要注意的几个问题

审计监察政策性强，时间紧，任务重，存在着一定的风险。我们在实践中摸索到一些有效方法，可防范审计风险。     

警惕银行中间业务五种风险

目前，我国商业银行正面临着业务转型，结构调整的局面。一方面，随着资本市场的逐步完善，直接融资渠道的拓宽，企业贷款有效需求增速放缓，另一方面，金融运行出现的“宽货币，紧信贷”的局面以及利率市场化步伐的加快，对银行存贷款定价能力，风险识别能力的要求进一步提高，这使得银行继续依靠利差维持自身发展的路子越来越窄。     

建筑工程承包风险管理浅析

工程建设时间紧、任务重、投资大、要求高，是一项具有风险的事业。建筑企业要想在日益激烈的市场竞争中寻求发展，就必须进行风险管理，对项目进行风险评估与分析，建立风险防范预案以规避风险。     

银行揽储带来的投资机会

近期在互联网金融大潮的冲击下，银行客户流失风险加大，加之央行暂停逆回购，流动性趋紧的商业银行限于内外交困之中。     

中小银行过快扩张风险问题探析

近年来，中小银行（本文所指中小银行，如无特别说明，均指全国性股份制商业银行和城市商业银行）过快扩张，一旦内部风险管理和控制无法跟上扩张的步伐，就容易出现问题，甚至形成风险。本文基于货币政策趋紧和监管政策趋严的背景，对中小银行过快扩张导致的风险问题与隐患进行了分析，并提出了合理建议，以期对其稳健发展有所裨益。     

弱势盘整格局难改

由于短期资金面趋紧以及企业业绩下滑．加上市场传闻四起．大盘上周连续多日阴跌，并跌破整数关口和重要的均线支撑．预计未来大盘或仍难摆脱弱势整理格局。投资者需控制风险．不要盲目抄底。     

园林绿化企业财务风险的防范

财务风险贯穿于企业生产经营过程的始终，由于绿化工程的季节性特点和绿化植物的生物学特性，使施工的紧迫性压力增大，而且绿化工程投资规模大、时间紧、达标率要求高，以及运输和天气等影响因素多，使得其面临的财务风险增大。因此，绿化工程单位必须树立财务风险观念．建立和完善财务风险防御机制．加强对财务风险的防范和控制．减少和避免财务风险，使企业得以健康稳定发展。     

基于久期理论的商业银行利率风险实证研究

随着我国利率市场化进程的加快，商业银行所面临的利率风险越来越严重，对利率风险的管理也越来越受到关注。本文通过对久期理论及模型的研究，对比其他理论方法简要分析了久期在我国的适用性，之后结合我国商业银行的相关财务数据，实证分析了我国商业银行所面临的利率风险，并对多家商业银行的风险进行了比较，最终给出简要的结论及相应的建议。     

中国财政负担——赤字累积大透视

近年来．我国各级财政基本都是在艰难中运行的。支出这根弦绷得愈来愈紧，累积性赤字越来越大．收支弹性越来越小——     

风险导向审计在高校固定资产投资审计中的应用

随着教育的发展越来越快，对于高校固定资产投资管理与审计的要求也越来越高，高校固定资产的审计压力也越来越大，如果没有处理好就会直接导致内部矛盾，文章根据高校固定资产投资审计中的应用风险，并提出风险导向审计模式下需要注意的固定资产投资审计所需要注意的问题。     

Role of financial regulation and innovation in the financial crisis

Using the financial and macroeconomic dataset of 132 countries, this study empirically analyzes the effects of financial regulations and innovations on the global financial crisis. It shows that regulatory measures such as restrictions on bank activities and entry requirements have decreased the likelihood of a banking crisis, while capital regulation and government ownership of banks have increased the likelihood of a currency crisis. Financial innovation has contributed to the banking crisis but contained the currency crisis. This study also shows that judicious implementation of regulatory measures is critical to financial stability because some regulations, if implemented simultaneously, can further aggravate or alleviate a crisis.     

Bank productivity growth and convergence in the European Union during the financial crisis

This paper examines the bank productivity growth and integration process for the 28 EU countries during three main phases of the financial crisis: the U.S. subprime crisis (2007–2008), the global financial crisis (2009–2010) and the sovereign debt crisis (2010–2012). We extend the Malmquist Productivity Index by applying an additive two-stage DEA model. This allows us to explore the sources of growth in different stages of production. Furthermore, we assess the integration of European banks by analyzing the β-convergence and σ-convergence of the two-stage Productivity Index. Our results show a productivity growth during the U.S. subprime crisis, but a consistent decline during the global financial crisis. The loss of competitiveness of the European banking system is due to the drop in growth of the performance stage and technical change. Finally, we find a strong convergence pattern during the financial crisis, mainly driven by the catch up process of some Eastern countries and the drop in performance of Western countries.     

金融危机启示:金融一体化监管趋势下的保险监管

任何一次危机的爆发都是风险释放的过程,研究危机更重要的是关注风险的积累过程。因此,分析危机前的风险积累过程,查找危机产生的原因,对防范和化解危机具有现实意义。本文通过对新近发生的美国次贷危机进而延伸到对10年前亚洲金融危机分析,以及全球金融一体化监管最新演进趋势的借鉴,论述我国保险监管组织架构的未来展望。     

Global financial crisis: The challenge to accounting research

Accounting practices are deeply implicated in the current financial crisis and in proposals for recapitalizing financial institutions and restoring stability to the global financial system. This essay discusses the methodological and theoretical gaps in accounting research that explain our failure to anticipate the crisis and limit our ability to analyze and respond to it.     

The global financial crisis and the evolution of markets, institutions and regulation

This paper analyses the recent global financial crisis in the context of the dual processes of market development and regulation. It discusses how, in the absence of a globally integrated financial framework, past and present regulations and interventions in reaction to national and global financial crises did not resolve the cross border regulatory arbitrage. The paper discusses how crises often lead to the emergence of new national and international institutions. It also analyses the proposed “new global framework” that needs to be in place if the policy recommendations contained in the G20 communiqué are going to be effectively implemented. The paper argues that unless international agreements are ratified by all nations and become part of national rules and laws, the presence of regulatory arbitrage and the lack of adequate cross border information and data may prevent the global economy from addressing the underlying causes of the recent global financial crisis. The paper also discusses the evolution of central banks and their new role in contributing to global financial stability. The paper argues that the recent global financial crisis has provided a unique opportunity to go beyond economic data and attempt to capture cross border financial data and other information that could assist international and national institutions to measure and manage financial risk more effectively. Finally, the paper discusses “too big to fail” and argues that only an internationally integrated financial system will make large banks global, both when operational and in the event of insolvency.     

The impact of the global financial crisis on the cross-currency linkage of LIBOR–OIS spreads

This article examines the impact of global financial crisis on cross-currency linkage of the LIBOR–OIS spread, a financial stress measure in interbank markets. The impulse response analysis is conducted in a multivariate setting, adopting the bias-corrected bootstrap as a means of statistical inference. The overall evidence suggests that the crisis has substantially changed the nature of the cross-currency interactions in liquidity stress. Also global money markets have failed to contain stress in US dollar funding and the role of the Japanese yen as a liquidity source appears to be significant, while these two currencies drive the cross-currency system of liquidity stress.     

Capital and credit market integration and real economic contagion during the global financial crisis

This study investigates the role of financial integration in the spread of global financial crisis. In particular, this study shows how the effect of the crisis on real business cycle co-movement varied for capital and credit market integration, using a sample of 58 countries in 2001–2013. During the global financial crisis, the United States – the epicenter of the crisis – experienced a severe downturn in the real economy, and other countries followed suit. We find that during the global financial crisis, the business cycle co-movements between the United States and the rest of the world were stronger when the level of capital market integration between them was higher. However, the co-movements were weaker when the level of credit market integration was higher. These findings are robust even when including investment channels, local fundamental factors, endogenous policy responses across countries, and alternative measures for financial integration and business cycle co-movements.     

How the UK economy weathered the financial storm

Prior to the global financial crisis of 2008, the UK had the largest banking sector asset to GDP ratio among large countries, and had experienced rapid real property price increases as well as a persistent current account deficit in the preceding decade. These factors, together with its role as an international financial centre, made the UK economy particularly vulnerable to the onset of the global financial crisis. Although the initial drop in real GDP was steep, we provide evidence that the economy has weathered the financial storm better than many feared, and has fared no worse than its peer group of major economies. In this paper we assess the reasons underlying this outcome, including the possibility of exaggerated vulnerabilities, global economic recovery, the flexible supply side of the UK economy, as well as fiscal, financial and monetary policy interventions. Our analysis suggests that all of these factors played a role in cushioning the impact on the UK real economy, leading to a more benign outcome than most observers expected.     

全球金融危机后的场外金融衍生品市场变革

后金融危机时代的全球场外衍生品市场正处于深刻变革之中，各国政府、监管部门和金融行业改革场外衍生品市场的一系列举措对我国也有着重要的借鉴意义。文章对金融危机以来全球场外衍生品市场发展改革的情况进行了整理研究，并结合我国实际提出相关建议。     

危机后美国金融综合统计的发展与部门协调

较为完善的货币与金融统计,是制定适当的宏观经济和金融政策的必要前提。2008年国际金融危机暴露出金融统计的严重缺陷。危机后,美联储积极改进和完善金融综合统计框架,拓宽统计覆盖范围,从更广阔的视角来审视整个金融体系的运行状况和风险。同时,通过成立专门机构便利跨部门信息共享以及采用“一对一”签署备忘录的形式,加强部门间的协调与合作,完善信息共享功能,增强宏观调控和金融风险防控的有效性、针对性和前瞻性。美联储金融综合统计的发展经验和部门间信息共享机制,对完善我国金融统计工作有借鉴意义。