我国刑法中的背信类犯罪及其立法完善——关于增设金融行业从业人员背信罪的再思考

为了准确有力地惩治金融证券期货市场上的犯罪，可以参考国外违背信任罪的长处，完善我国刑法中的现有规定。以特别背信罪的形式规定金融行业从业人员背信罪，符合中国的实际，具有一定的科学性和较高的可操作性。处理好刑事法与其他法律的衔接问题、完善诉讼制度、加强金融监管、扩大金融行业从业人员的投资途径，都是完善金融从业人员的法律规范所必要的配套措施。     

金融行业道德风险防范与管理探究

金融行业的效益是与其风险成正比,其中的道德风险系数很大,部分金融行业从业人员不能坚守自身的道德底线,极易被巨大的利益所诱惑从而越过道德甚至是法纪的底线,导致金融行业从业人员违规行为层出不穷,故此,加强对金融行业道德风险防范与管理探究具有十分重要的意义。本文就此问题与各位同行进行探讨。     

社会转型时期金融行业腐败的原因与治理对策

所谓金融行业腐败是指国有金融企业机构及其从业人员,在经营管理及相关活中,为谋取私利,利用掌握的资金资源及相关资源,违反我国法律及现行金融相关政策、规定,并侵害国家、公众及本企业组织的利益的行为或现象.金融行业已经成为我国社会转型时期腐败的重灾区之一.     

中德反内幕交易罪机制比较研究

德国是世界经济大国,德国反内幕交易犯罪机制很有特点,其行为样态的宽泛性、设置模式的灵活性以及处置机制的多样性,使得德国刑法能够有效防范内幕交易犯罪.中国在<证券法>、<期货交易管理条例>以及1997年<刑法>中都有对内幕交易罪之规定,但和德国内幕交易罪的刑事立法相比,仍存在明显不足.因此中国<刑法>应当对德国内幕交易罪刑法规制的立法经验及理论有所借鉴.     

我国金融行业培训的现状分析

金融业作为知识型人才密集行业,其竞争的激烈性和复杂性对从业人员的素质要求越来越高.培训作为人力资源开发、管理的有效手段,在全面提高金融业从业人员素质、提高其执行能力、推动金融业战略目标实现等方面,发挥着越来越重要的作用.本文从金融行业培训的特点着手,在分析金融培训的理论动因的基础上,研究了现阶段政府、企业、自律组织三种不同类型的组织在金融行业培训中的现状.     

社会转型时期金融行业腐败的新特征

所谓金融行业腐败是指国有金融企业机构及其从业人员,在经营管理及相关活中,为谋取私利,利用掌握的资金资源及相关资源,违反我国法律及现行金融相关政策、规定,并侵害国家、公众及本企业组织的利益的行为或现象.     

论如何有效预防金融职务犯罪

金融职务犯罪是指金融从业人员利用金融行业的特殊性,在本职岗位和各种业务活动中利用职务之便所进行的违法犯罪行为,其内涵与狭义的金融犯罪概念基本相同.金融是现代经济的核心,金融在不断发展的同时,也成了职务犯罪的高发区,金融职务犯罪给国家和人民财产造成了难于估量的损失.     

结合金融业的特点和职责开展优质文明服务

结合金融业的特点和职责开展优质文明服务今秋，中宣部和中国人民银行在北京联合举办了金融系统优质文明服务事迹报告会。这次会议的召开，对加强金融行业从业人员的职业道德教育，提高金融行业优质文明服务水平．促进全社会精神文明建设都具有十分重要的意义。金融是现代...     

我国金融从业人员职业素养培育初探

随着我国经济的发展,金融行业逐渐兴起,而金融从业人员的职业道德、法制观念以及职业技能等因素对于金融行业的稳定发展具有直接影响。文章主要针对培养我国金融从业人员职业素养进行分析,结合金融行业实际情况,从多方面深入研究与探索,进而为强化我国金融从业人员职业素养提供有力依据。     

社会转型时期金融行业腐败的原因与治理对策

所谓金融行业腐败是指国有金融企业机构及其从业人员,在经营管理及相关活中,为谋取私利,利用掌握的资金资源及相关资源,违反我国法律及现行金融相关政策、规定,并侵害国家、公众及本企业组织的利益的行为或现象。金融行业已经成为我国社会转型时期腐败的重灾区之一。一、社会转     

The theoretical underpinnings of government policy,turbulence and performance in the service sector: a conceptual framework

The objective of this paper is to provide a theoretical framework to study the relationship between host country government policy, market and technological turbulence, competitive intensity and export marketing performance in the financial services sector using Dunning’s (J Int Bus Stud 11(1): 9–31, 1980) eclectic paradigm. A literature review is used to define and set out the main conceptual framework and propositions for further research. A better understanding of the factors that contribute to export marketing performance success in the financial services sector is provided. The managerial implications of such a study would be to provide important knowledge or understanding for international business practitioners in the financial services sector. Such a study could also confirm the role that host country governments play in the performance of export ventures in the financial services sector and could make financial services exporters aware of the significance of environmental turbulence and its impact in the global market place.     

Phasing out the GSEs

We develop a new model of the mortgage market that emphasizes the role of the financial sector and the government. Risk tolerant savers act as intermediaries between risk averse depositors and impatient borrowers. Both borrowers and intermediaries can default. The government provides both mortgage guarantees and deposit insurance. Underpriced government mortgage guarantees lead to more and riskier mortgage originations and higher financial sector leverage. Mortgage crises occasionally turn into financial crises and government bailouts due to the fragility of the intermediaries’ balance sheets. Foreclosure crises beget fiscal uncertainty, further disrupting the optimal allocation of risk in the economy. Increasing the price of the mortgage guarantee “crowds in” the private sector, reduces financial fragility, leads to fewer but safer mortgages, lowers house prices, and raises mortgage and risk-free interest rates. Due to a more robust financial sector and less fiscal uncertainty, consumption smoothing improves and foreclosure rates fall. While borrowers are nearly indifferent to a world with or without mortgage guarantees, savers are substantially better off. While aggregate welfare increases, so does wealth inequality.     

中国金融部门杠杆周期分析——基于1998-2018年的数据证明

结合中国经济金融体系发展实践,以银行部门（其他存款性公司）总资产/实收资本作为代理指标分析中国金融部门杠杆率的周期性特征,并对周期形成原因进行探究,对我国金融部门杠杆周期与金融周期的顺周期性进行检验。结果显示：在观测期内,中国金融部门杠杆经历了多个短周期,短周期长度在9～16个季度（约2～4年）不等,并经历了至少1次中周期,中周期时间约为35个季度（约9年）;我国金融部门杠杆周期与国家金融监管政策密切相关;我国金融部门的杠杆周期与金融周期并不必然表现为顺周期性。因此,我国应当更加注重金融监管政策和信贷政策的配合协同,科学反映金融部门杠杆情况,维护金融稳定,防止发生系统性金融风险。     

中国家庭偿债能力:衡量与影响因素

居民部门债务的快速增长和过度累积可能导致经济体系产生潜在的金融风险。本文以2011-2017年中国家庭金融调查(CHFS)数据为研究样本,选取了综合衡量家庭偿债能力的指标,并根据宏观层面的不良贷款率对该指标进行校准。进一步地,本文基于衡量结果分析了我国家庭偿债能力的影响因素。研究发现:第一,2011-2017年期间我国金融脆弱性家庭占比呈逐年上升趋势,且现阶段我国金融脆弱性家庭变动状况存在明显的人群异质性和地区异质性。应警惕居民部门杠杆率过快上升的透支效应和潜在风险,关注低收入家庭的偿债风险。第二,购房预期收益上升使家庭产生加杠杆行为,导致家庭过度负债从而使家庭偿债能力进一步恶化。本研究对我国居民部门的金融风险监测、评估和预警有一定启示。     

Sectorial differences in corporate financial behavior: an international survey

This survey-based research deals with sectorial differences in terms of three main corporate finance policies: investment, financing and dividend. We used a multinational survey that was distributed to the chief financial officers in five countries: the US, the UK, Germany, Canada and Japan. We found statistically significant differences between the nine sectors examined in terms of all the three major financial policies. These differences may be due to the following: (1) the unique financial needs and operating conditions of each sector and (2) the imitation effect according to which firms imitate the financial behavior of other firms in their sector. We found that the use of established investment appraisal techniques is most common in the construction sector and least common in the technology sector. The IRR is the most frequently used investment appraisal technique for the entire survey sample, especially in the communication sector; however, it is rarely used in the technology sector. The technology sector has the lowest level of financial leveraging, while the finance sector has the highest level. A constant sum per share is the most common dividend policy in the following sectors: retail and wholesale, services, manufacturing and transport. On the other hand, construction, energy, communication and technology sectors are characterized by a high percentage of firms that do not pay dividends at all.     

Monetary policy games,financial instability and incomplete information

In the aftermath of the recent global financial crisis, monetary authorities, while pursuing traditional objectives, such as the control of inflation, are also eager to promote financial stability. In this paper, we model the strategic interaction of the central bank and the financial sector and explore a simple monetary policy game with perceived substantial risks to financial stability, where the central bank can be of two types, one pursuing strict inflation-targeting and the other concerned with affecting the expectations formed by the financial sector participants; however, the financial sector is unsure which, due to incomplete information. The conclusion is that for small shocks to inflation there is a pooling equilibrium, whereas for larger shocks there is separation. In the latter case, the central bank that has an explicit financial stability concern is willing to exercise more muted control to inflation in order to reinforce the safety of the financial sector.     

Is sovereign risk related to the banking sector?

We examine whether the banking sector within a nation is related to sovereign risk. We hypothesize that more competitive and sophisticated financial systems are less prone to panics or bank runs, and consequently will be associated with superior sovereign credit ratings. Using Ordered Probit with Aggregate Time Effects methodology, our results show that banking sector characteristics such as concentration in the banking system, liquidity of bank assets, and size of financial system are significantly related to sovereign credit ratings. Since the use of these sovereign ratings is ubiquitous in international finance in varied applications such as determination of the cost of international borrowing by governments, international cost of capital for FDI, and others, the relationships identified in this paper have important public policy implications.     

政策性金融与地方金融的互动模式与运用探讨

政策性金融能否与商业金融有机统一，是地方经济发展的重要突破口。目前，商业银行是地方建设的主要资金来源，政策性金融因为投入不够，其应该发挥的社会效益并没有显现成效。本文以服务于区域经济为立足点，提出了加强二者关联的技巧和完善途径，从而改变现阶段地方金融失衡的状态。     

Measuring systemic importance of financial institutions: An extreme value theory approach

This paper proposes a set of market-based measures on the systemic importance of a financial institution or a group of financial institutions, each designed to capture different aspects of systemic importance of financial institutions. Multivariate extreme value theory approach is used to estimate these measures. Using six big Canadian banks as the proxy for Canadian banking sector, we apply these measures to identify systemically important banks in Canadian banking sector and major risk contributors from international financial institutions to Canadian banking sector. The empirical evidence reveals that (i) the top three banks, RBC Financial Group, TD Bank Financial Group, and Scotiabank, are more systemically important than other banks, while we also find that the size of a financial institution should not be considered as a proxy of systemic importance; (ii) compared to the European and Asian banks, the crashes of the U.S. banks, on average, are the most damaging to Canadian banking sector, while the risk contribution to the Canadian banking sector from Asian banks is quite lower than that from banks in the U.S. and euro area; (iii) the risk contribution to Canadian banking sector exhibits “home bias”, that is, cross-country risk contribution tends to be smaller than domestic risk contribution.     

Trust in financial services: Retrospect and prospect

Fostering and maintaining high levels of trust in the financial services sector is seen as crucial because of the characteristics of many financial service and in order to promote consumer engagement in the sector. In this article, we report evidence from a body of work and other commentary to provide an insight into trends in consumer trust in the sector as a whole, in comparison with other organisations and how different types of financial services provider have performed relative to each other. We show that the financial services sector as a whole is trusted more than some comparator institutions, and that aggregate levels of trust in the sector have fluctuated a relatively small amount subsequent to the financial crisis. However, important differences between provider types are apparent and these differences have become more profound in the recent past. We provide suggestions as to how trust in the sector may be improved and provider an analysis of current initiatives to improve trust levels in the sector in general and in banking in particular.