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我国目前物流金融业务中实施的各种存货质押融资皆为大宗商品质押融资,非大宗商品质押融资还有待开发。依据质押存货选择原则,本文提出了一种从生产系统分析的角度分析非大宗商品的质量稳定性、价值稳定性、潜在变现能力和潜在销售能力的方法;该分析方法表明了部分非大宗商品用于质押融资的可行性与必要性,并在该分析方法的基础上制定了非大宗商品质押融资开发的基本流程。 相似文献
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一、物流银行质押贷款业务
物流银行的全称是物流银行质押贷款业务,物流银行是指通过仓单质押方式向银行融资而形成的资金中心,即仓单质押融资,是指货主(企业)把货物存储在物流公司仓库中,然后凭物流公司开具的货物仓储凭证向银行申请贷款,银行根据货物的价格向货主(企业)提供一定比例的贷款,同时由物流公司代理监管货物,这三者的关系中,物流公司担当中间人和担保人的角色。 相似文献
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小微企业在经济发展中起着非常重要的作用,但其融资难问题一直没有得到有效解决.运用演化博弈分析的方法,对商业银行和小微企业两大类主体的信贷市场进行分析,并在加入征信机构后了解博弈双方的决策行为对其博弈均衡的影响.得到的基本结论是:商业银行和小微企业在博弈过程中合作与否,取决于对方行为策略的选择,而且最终与演化稳定策略和鞍点的大小有关;征信机构参与下的小微企业融资更有效率,会让博弈双方达到最优的演化均衡状态.在此基础上,提出了助力小微企业融资的政策建议. 相似文献
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小微企业是非公经济的重要组成部分,也是国民经济中最活跃的群体。文章以应收账款融资为视角分析供应链融资系统中核心企业、商业银行和中小微企业三者之间相互作用关系,梳理了国内外学者对小微企业融资效果及供应链演化相关文献的研究,运用博弈论和信息经济学的理论方法构建了单一主体模型以及银行部门与中小微企业的双主体演化博弈模型,探讨供应链系统三个主体策略选择的行为演化过程及其收敛趋势,利用MATLAB仿真工具,分析参与主体在不同情形下演化稳定策略的走向。研究结果表明:(1)要实现供应链融资模式,取决于对违约企业施加监管和惩罚的力度;(2)小微企业选择违约策略给核心企业带来的损失较大时,可以通过影响中小微企业的行为选择从而对供应链金融的顺利进行产生影响。 相似文献
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We propose a fully Bayesian approach to non-life risk premium rating, based on hierarchical models with latent variables for both claim frequency and claim size. Inference is based on the joint posterior distribution and is performed by Markov Chain Monte Carlo. Rather than plug-in point estimates of all unknown parameters, we take into account all sources of uncertainty simultaneously when the model is used to predict claims and estimate risk premiums. Several models are fitted to both a simulated dataset and a small portfolio regarding theft from cars. We show that interaction among latent variables can improve predictions significantly. We also investigate when interaction is not necessary. We compare our results with those obtained under a standard generalized linear model and show through numerical simulation that geographically located and spatially interacting latent variables can successfully compensate for missing covariates. However, when applied to the real portfolio data, the proposed models are not better than standard models due to the lack of spatial structure in the data. 相似文献
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Stathis Chadjiconstantinidis Demetrios L. Antzoulakos 《Scandinavian actuarial journal》2013,2013(3):138-161
Recursive formulae are derived for the evaluation of the moments and the descending factorial moments about a point n of mixed Poisson and compound mixed Poisson distributions, in the case where the derivative of the logarithm of the mixing density can be written as a ratio of polynomials. As byproduct, we also obtain recursive formulae for the evaluation of the moments about the origin, central moments, descending and ascending factorial moments of these distributions. Examples are also presented for a number of mixing densities. 相似文献
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Jun Kawamoto 《Accounting, Business & Financial History》2001,11(3):331-348
The Japanese disclosure system of consolidated statements was introduced in 1977 and extensively revised in 1997. The role of the bureaucracy has been significant in these developments and seems to be part of Japan's closed culture. However, other explanations could also be applied. In particular, although Japanese firms opposed such disclosures on the basis of preparation costs, the Japanese government had to modernize the disclosure system, including consolidation, in order to develop the securities market regardless of an individual company's interests. 相似文献
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Junichi Chiba 《Accounting, Business & Financial History》2001,11(3):311-330
After the Second World War, during the neutralization of the controlled economy of wartime Japan, a design for a Corporate Accounting Law was elaborated by the Investigation Committee on the Business Accounting System. The Investigation Committee tried to establish not only new business accounting standards but also a central and independent administrative organ of corporate accounting regulation on the basis of the Corporate Accounting Law. The Corporate Accounting Law was expected to lay the legal foundation of the new corporate accounting regulation regime in Japan. Nevertheless, even though the original design of the fundamental accounting law was never realized, it should be considered the starting point for our understanding of external accounting history in post-war Japan. 相似文献
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Ross E. Stewart 《Accounting, Business & Financial History》2001,11(2):193-223
This paper examines the way two accounting techniques, namely depreciation and foreign exchange, were deliberated on, between 1870 and 1900, in an Indian jute company whose shareholders resided in the UK. The arena for these deliberations was the conflictual relationship between controlling and non-controlling shareholders as to how best to account for depreciation and foreign exchange especially when the particular accountings affected distributional issues such as the dividend decision. The purpose of this paper is to analyse and explain the processes by which a company's accounting practices emerge and develop as a contest between different interests. Accounting framed the parameters of the deliberations and provided the language of power and dissent. The paper uses a rich archive that includes narrative and accounting material. 相似文献
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Short selling may accelerate stock price adjustment to negative news. However, the literature provides mixed evidence for this prediction. Using short-sale refinancing and a staggered difference-in-differences (DID) model, this paper explores the effect of short selling on stock price adjustment. Our results show that (1) short-sale refinancing improves the speed of stock price adjustment to negative news. This result holds after we control for endogeneity. (2) The positive relationship between short-sale refinancing and stock price adjustment speed is significant in subsamples of stocks with higher earnings management or lower accuracy of analyst forecasts, indicating that firms with more opaque information are more likely to be targeted by short sellers. In subsamples of stocks with a higher ownership concentration or lower ownership by institutional investors, short selling is more likely to increase the speed of stock price adjustment, indicating that ownership structure may influence negative news mining. (3) As short-sale refinancing exacerbates the absorption of bad news by stock prices, it increases crash risk. This study enriches the research on the economic consequences of short selling and provides empirical evidence supporting regulations on short selling in China. 相似文献
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正The China Journal of Accounting Research"CJAR"(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditing and corporate governance issues that relate to the greater China region.We welcome the submission of both theoretical and empirical research papers pertinent to researchers,regulators and practitioners.Authors should note:1 Submissions must be original 相似文献
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We introduce an expected utility approach to price insurance risks in a dynamic financial market setting. The valuation method is based on comparing the maximal expected utility functions with and without incorporating the insurance product, as in the classical principle of equivalent utility. The pricing mechanism relies heavily on risk preferences and yields two reservation prices - one each for the underwriter and buyer of the contract. The framework is rather general and applies to a number of applications that we extensively analyze. 相似文献
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Jun Pan Liangliang Wang Xiaofeng Shen Zhibin Chen 《China Journal of Accounting Research》2016,(3):191-206
China’s slowing economic growth and rapid urbanization have made local government debt financing a significant issue.This study uses a sample of China’s provinc... 相似文献
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Masato Kikuya 《Accounting, Business & Financial History》2001,11(3):349-368
Historically, Japanese accounting standards have been quite distinct from International Accounting Standards (IASs) which have been perceived as being modelled on British-American accounting standards. However, in the 1990s, after the publication of E32 in 1989 and the IASC-IOSCO Agreement in 1995, the Business Accounting Deliberation Committee (BADC), the standards-setting body in Japan, has pursued a policy of harmonization with IASs. Accounting standards relating to consolidated financial statements of companies that make cross-border offerings of securities or operate worldwide are being revised drastically. This paper focuses on the development of international accounting harmonization and its impact on Japan. 相似文献