财资管理助力企业战略

为适应商业模式变化、满足全球化背景下的公司财务需求，财资管理在企业发展过程中扮演了越来越重要的角色。金融危机后，重视现金管理、保持健康的现金流已成为企业战略管理的重要部分，写进众多公司的战略目标。     

钢铁业的绿色发展内涵

我们正处在经济全球化的大背景下,全球化正在改变企业的发展环境和成长基因。我们同时又面临资源和环境的压力,环境问题正日益"政策化""法律化",可持续发展成为全球企业的共同选择。     

联想公司战略变革分析

随着全球科技的迅速发展,公司的内外部条件均发生了巨大的变化,公司在经济大发展大繁荣背景下面临新的问题和矛盾,公司的战略变革显得尤为重要,以提高企业的绩效,为公司创造价值,实现产业调整与升级。本文主要以联想集团为例,对其战略变革进行研究,主要从战略变革类型、战略变革原因和阻碍方面进行分析。     

基于财务战略管理的企业盈利模式的思考

随着时代的不断发展,市场经济也处于蓬勃发展的阶段,经济全球化成为每个企业都要面临的问题。传统的财务管理理念在新经济时代下对于企业可持续发展的作用已经式微,为了保持企业内在的持续发展动力,必须从战略层面对企业的财务管理和公司治理进行严格的把控。企业在发展中的重要保障就是盈利,盈利模式的构造决定了企业是否能够持续的创造出有经济价值的发展模式。在社会经济飞速发展的背景下,企业竞争不断加剧,促使企业管理者必须采取更加有效的财务管理战略,开发新的盈利模式。     

通信企业技术标准中的专利战略

在知识经济背景下，专利战略已得到普遍认识，技术标准成为公司获得市场的法宝。本文主要介绍通信行业处于不同技术发展阶段的企业该如何运用专利技术标准化战略。     

探析全球化背景下建筑企业经济管理的新挑战

随着时代的发展,随着科技的进步,各个方面日益全球化。在全球化的大背景下,每个方面都发生了天翻地覆的变化。在这变化中,也充满了挑战。当然,建筑企业的经济管理是难以逃脱这种宿命的。本文就是以全球化背景下建筑企业经济管理的新挑战为主题,来进行探析的。     

振兴装备工业应充分发挥跨国公司的积极作用——从西电集团的成功案例看振兴我国装备工业之路

去年,应西安电力机械制造公司(以下简称“西电集团”)之邀,商务部研究院跨国公司研究中心对西电集团如何进一步进行战略调整进行了调研。中心与西电集团领导层以及各个子公司的管理层在内的近百人进行对话和情况了解,走访了东芝、三菱电机、ABB等著名跨国公司在华总部,并访问了中国机械工业协会、国家电网公司等有关机构和企业。本刊摘取了该调研报告,重点介绍西电集团在经济全球化的背景下,充分吸纳和整合国际先进资源,发挥跨国公司的积极作用,促进了自身的产业结构升级,提高企业竞争力。这从侧面反映了经济全球化,外资进入中国,有效地增强了我国的国家经济安全。     

比较优势、企业集群与城市竞争力研究

本文分析了在经济全球化和产业地方化的背景下城市竞争力的内涵,认为企业集群能够充分发挥城市的比较优势,有效地促使城市比较优势动态化从而提高城市竞争力,各级城市政府应实行企业集群发展战略,以应对经济全球化的挑战。     

大数据背景下企业财务风险管理研究

随着信息技术的兴起,“大数据+”的管理理念在各个行业与领域逐步延伸,数据被正式纳入为一项重要的生产要素,并日益成为各企业的核心战略资源。在大数据背景下,处在新发展态势下的企业已经无法依靠传统的风险管理模式来产生预期效益,大数据背景下的财务风险管理成为企业新的发展方向。本文主要讨论了利用大数据进行财务风险管理的优势,分析了目前企业利用大数据进行财务风险管理存在的问题,并根据问题提出了有针对性的建议,旨在帮助企业更好地实现财务风险管理。     

振兴装备工业充分发挥跨国公司的积极作用——从西电集团的成功案例看振兴我国装备工业之路

去年，应西安电力机械制造公司（以下简称“西电集团”）之邀，商务部研究院跨国公司研究中心对西电集团如何进一步进行战略调整进行了调研。中心与西电集团领导层以及各个子公司的管理层在内的近百人进行对话和情况了解，走访了东芝．三菱电机、ABB等著名跨国公司在华总部，并访问了中国机械工业协会．国家电网公司等有关机构和企业。 本刊摘取了该调研报告，重点介绍西电集团在经济全球化的背景下，充分吸纳和整合国际先进资源，发挥跨国公司的积极作用，促进了自身的产业结构升级，提高企业竞争力。这从侧面反映了经济全球化，外资进入中国，有效地增强了我国的国家经济安全。[编者按]     

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.     

银行软件项目外包管理分析

一、引言随着国民经济的不断发展,银行业务与外部企业的联系越来越密切。银行正逐步成为现代经济活动的中心,作为数据处理核心的银行业务应用也越来越大型化、越来越复杂化,因此许多银行也把软件项目逐步由原来的自主开发转变为与公司合作的方式,或直接外包开发的方式,银行本身的技术人员也逐步由开发转向项目管理。二、项目外包的分类银行项目的外包有以下几种情况:①部分子系统外包,有时由于银行的软件项目太大,单靠银行自身的开发力量基本无法在预定的时间内完成项目,只好把相对独立的部分外包;②直接购买软件公司的成熟产品,有些金融软…