刘萍秘书长在陕西考察调研中联评估集团母子公司试点工作

为深入了解评估机构做优做强做大及母子公司试点工作开展情况，中国资产评估协会副会长、秘书长刘萍于9月21日赴中联资产评估集团（陕西）有限公司考察调研．亲切慰问中联陕西公司员工，并就母子公司试点工作开展情况与中联评估集团和中联陕西公司负责人进行了座谈。中评协副秘书长韩立英、陕西省资产评估协会副秘书长朱国平等陪同调研。中评协注册部彭小蓉、国际部邵荣华一起跟随调研。     

刘红薇部长助理赴巾联评估集团调研

财政部部长助理刘红薇于2011年3月10日赴中联资产评估集团有限公司调研．了解评估行业发展情况。中评协副会长兼秘书长刘萍、财政部企业司副司长宋康乐、条法司副巡视员赵超、中评协副秘书长杨松堂等陪同调研。     

中评协在上海召开中小机构发展调研座谈会

近日，中评协在上海组织召开中小机构发展调研座谈会。中评协副秘书长杨松堂，上海评协负责人任方方出席会议，经隆、科华、沪南等7家评估机构代表应邀参加了会议。会议由杨松堂副秘书长主持。会上，杨副秘书长指出，本次调研的目的一方面是了解中小评估机构发展的经验和需求；另一方面是听取中小评估机构在行业管理、机构内部管理等方面对上级部门的意见和建议。中小机构是多数，是行业发展的基础。     

湖南省注协评协开展宣传工作调研

为贯彻落实中注协、中评协和湖南省财政厅对行业开展宣传工作的要求．进一步调动事务所对宣传工作的积极性．为各项工作顺利开展鼓劲造势,5月17日至21日．湖南省注协评协分管宣传工作的副秘书长李毅一行深入湖南艾普瑞资产评估有限公司、湖南天平正大资产评估有限公司等5家规模排前的评估机构,就机构开展宣传工作的情况进行调研。     

中评协副秘书长杨松堂赴广东调研

为了解中小资产评估机构的发展情况，推动中小资产评估机构做精做专做优．近日．中评协副秘书长杨松堂赴广东省参加部分中小资产评估机构做精做专做优座谈会。座谈会上，杨副秘书长在认真听取广东省部分资产评估机构负责人的发言后．作了重要讲话。     

资产评估执业质量是行业可持续发展的基石——2011年度证券评估资格资产评估机构执业质量检查总结会议在京召开

中国资产评估协会于4月13日至14日在北京召开了2011年度证券评估资格资产评估机构执业质量检查总结会议。财政部资产评估行业执业质量检查工作领导小组组长、中国资产评估协会副会长兼秘书长刘萍主持会议并讲话。财政部企业司副司长肖雪峰．中国资产评估协会副秘书长卞荣华参加会议并讲话。     

抓两头 促中间 引导行业健康发展——2012年度证券评估资格资产评估机构执业质量检查总结会议在京召开

2013年3月26日至27日,2012年度证券评估资格资产评估机构执业质量检查总结会议在京召开。财政部检查工作领导小组副组长、企业司副司长肖雪峰和中评协副秘书长卞荣华出席会议并讲话。     

捐资助学 奉献爱心

10月28日，河北省围场满族蒙古族自治县先任学校举行建校六周年捐赠仪式，相关政府部门、部队和企业等社会各界人士参加仪式。中评协会长贺邦靖率刘萍秘书长、杨松堂副秘书长及八家评估机构负责人参加．八家评估机构代表中国资产评估行向先任学校捐款115万元。     

中评协会长贺邦靖深入京沪两地评估机构调研

北京：中纪委委员、中国资产评估协会会长贺邦靖于4月8日、9日分别到北京的中和资产评估有限公司和中通诚资产评估有限公司进行调研。中国资产评估协会副会长兼秘书长刘萍．副秘书长岳公侠、杨松堂,党委副书记宋阳等陪同。     

贺邦靖会长赴北京、天津慰问评估机构并拜年

玉兔呈祥辞旧岁，金龙献瑞迎新春。在2012年新春佳节即将到来之际，中央纪委委员、中国资产评估协会会长贺邦靖于1月17—18日分别赴北京、天津走访慰问评估机构，对评估行业和评估机构同仁一年来为评估事业的努力与付出表示感谢和慰问，并送去新春的祝福。中评协副会长兼秘书长刘萍、副秘书长卞荣华、副秘书长韩立英等陪同慰问。     

Almanac of anticipations: The age of affluence—of anticipation—of anxiety—of automation—of discontinuity—of longing—of overkill—of space exploration

With this survey of developments in the futures field since 1945, I.F. Clarke completes his present series for Futures. He makes two major points: that forecasting techniques have become essential tools in the management of change; and that nuclear weapons and ecological problems have added a moral dimension to the study of the future. In the next issue of Futures he will start a new series on the range of future-thinking in the USA, from the expectations of the first settlers to the Star Wars programme.     

社会主义所有制形式的改革、完善与共产党执政能力的提高

在中国,所有制形式的调整、改革与完善,先进生产力的发展,党的执政能力建设,是社会主义建设过程中密切结合在一起的三个不同层面的发展关系.应在相互促进和共同提高中促进社会的和谐发展,保证社会主义现代化建设战略目标的顺利实现.     

基金公司经营融资融券业务的问题审视

融资融券业务正式运营已经开展,为证券市场带来了革命性的改革,作为证券市场的一大主体,基金公司面对融资融券也迎来了新的发展方向和挑战,本文从融资融券业务的运行机制入手,分析了基金公司融资融券的新契机,并对其即将面临的问题进行审视和剖析,进而提出策略建议.     

对基层人民银行科技工作的几点建议

银监会分设后,人民银行将专司货币政策、金融稳定、金融服务三大职能。作为人民银行的分支机构,基层人民银行的工作重心也将从金融监管调整到这三大职能上来。人民银行的科技部门,就要积极运用科技手段,为人民银行履行新的职能发挥“服务、支持、促进、发展”的作用。一、围绕三大职能搭建五大平台经过“六五打基础、七五作准备、八五大发展”几个阶段后,人民银行相继实现了核算电算化、清算网络化和办公信息化。特别是近一两年来,陆续开通了大额支付系统、信贷登记咨询系统、会计四集中系统、金融信息服务网站等系统,人民银行信息化水平又…     

Properties of time-series estimates of degree of leverage measures

Empirical studies suggest that time-series regression estimates of the degrees of operating and financial leverage have a tendency to produce measures less than one. According to ex ante theory, these measures should be greater than one for firms operating above the breakeven point. There have also been suggestions that the biases in these estimates may be attributable to an underlying increase in unit sales. This work presents evidence that these counter-intuitive measures are produced by changes in the firm's operating parameters (unit price, variable cost, fixed cost and interest payments). It further suggests that attempts to control for the underlying change in unit sales substantially increase the volatility of predicted estimates.     

浅议金融机构的举证责任

金融纠纷案件是当事人以存单或进账单、对账单、存款合同、保险单、票据、证券等凭证为主要证据向人民法院提出诉讼的案件,对于不同种类金融纠纷的当事人的举证责任,我国现行的金融法律、法规及司法解释有不同的规定。由于金融机构的特殊法律地位,发生金融纠纷时存在有关当事人将最后偿付风险转移给金融机构承担的主观故意,在客观上会使金融机构难以提供相应的证据来对抗不法债权人的诉讼请求,而导致金融机构败诉。为此,对金融诉讼案件中金融机构的举证责任加以研究具有重要的实践意义。     

The Usefulness of Measures of Consistency of Discretionary Components of Accruals in the Detection of Earnings Management

Abstract:  Prior research has shown the prevalence of measurement error in models used to estimate aggregate discretionary accruals. In these models, the incremental information content of the various components of accruals is ignored. Limited prior research and data gathered from firms under Securities and Exchange Commission (SEC) litigation indicate that managers use either one or more than one component of accruals simultaneously, in a consistent way to manipulate bottom-line earnings in a given direction. I propose two measures that capture the consistency between the discretionary components of accruals and test their significance in earnings management (EM) detection in firms that have artificially added accrual manipulation and firms that were targeted by the SEC for accrual manipulation. There is evidence that this information is incrementally useful in detecting EM. This finding paves the way for improvements in the discretionary accruals measure by including consistency information from the components of aggregate accruals.     

Summary of Results of Survey of Seminar Attendees

Abstract

The Society of Actuaries undertook a three-phase research project on mortality improvement in the three NAFTA countries: Canada, Mexico, and the U.S. Phase 1 consisted of a literature review of papers on projecting mortality levels in the future and a study of the trend in mortality improvement during this century. Phase 2 consisted of a discussion of different facets of modeling mortality rates at a seminar attended by 79 experts (actuaries, demographers, economists, and medical researchers) representing different countries. The last session of the seminar consisted of the completion of a survey by the attendees to obtain input for Phase 3, which would analyze the impact of mortality improvement on the social security system of each country. This paper summarizes the results of the survey.

The survey results illustrate the difficulty in forecasting mortality levels, because the effects of many factors that could have significant impact on mortality rates are unknown. This suggests the need for dynamic forecasting, which allows for the possibility of random shocks. A majority of the survey respondents believe that stochastic forecasting models, despite their complexity, have significant potential to add value. Respondents also believe that both historical data and cause-specific mortality forecasts are useful as input and also in validating forecasts of the aggregate levels of mortality. The challenge is to develop more sophisticated forecasting models to produce results that are relatively easy to interpret and to communicate these results to the desired audiences, including the public and policymakers.

The survey results suggest that the aggregate effect of lifestyle changes, medical advances, diseases, catastrophe, and physical environmental changes is an increase in life span. However, there is much uncertainty about the future. Respondents expect that beyond the year 2020 the mean annual rate of reduction in mortality for males age 65 and over will average about 0.58% for Canada, 0.76% for Mexico, and 0.67% for the U.S. The results for the female age 65 and over population are 0.64%, 0.83%, and 0.70%, respectively. The age 65 and over population is expected to see larger percentage reductions in mortality than the 0–14 and 15–64 populations. The reductions in male and female mortality will be ultimately the same, and the mortality levels in the three countries will ultimately converge, although differences may persist for decades.     

Separation of Unit of Account from Medium of Exchange

The separation of a unit of account (UoA) from a medium of exchange (MoE) in the commodity–money system is investigated by considering explicitly a seller's choice of UoA in terms of either an MoE or a unit of metal weight. If the likelihood of debasement of an MoE and its rate are high enough, the price is posted in terms of a unit of metal weight rather than an MoE. Interestingly, this MoE–UoA separated equilibrium yields the flexible nominal price, whereas an MoE–UoA integrated equilibrium yields the sticky one. This implies the nominal price rigidity in the fiat‐money system where MoE and UoA are integrated.