职工篮球对于企业发展的重要性

随着社会经济的不断发展和现代企业制度的逐渐完善,企业管理更加趋向于人性化和科学化,重视开发职工的生产潜力和生产价值。在企业发展的过程中,职工参加篮球活动能够更好地促进企业文化的建设,提高职工对企业文化的认同感,提高职工的工作积极性和主动性,增强企业内部的凝聚力,促进企业的可持续发展。论文主要针对职工篮球对企业发展的重要意义进行探究。     

客户重要性与会计信息可比性 ——来自中国证券市场的经验证据

审计师的执业特征对被审计单位的会计信息质量有一定的影响。以审计师客户重要性为经,以会计信息可比性为纬,运用2005—2014年我国A股上市公司数据实证分析审计师客户重要性与会计信息可比性之间的相关性。实证结果表明：会计师事务所对某一客户的经济依赖越强,该客户的会计信息可比性越差;同样地,签字注册会计师的客户重要性与会计信息可比性呈现显著负向关系;并且,会计师事务所和签字注册会计师的客户重要性在对会计信息可比性的作用过程中存在互补关系。     

Capital and resolution policies: The US interbank market

We develop an empirically based simulation study to test two types of policies designed to control systemic risk: preventive policies targeting capital requirements and mitigation policies targeting default resolution. We find that capital buffers reduce both the number of defaults and the resulting losses. The loss reduction benefit increases as the magnitude of adverse shocks becomes higher. We find that a simple branch-breakup resolution strategy reduces the loss borne by the Federal Deposit Insurance Corporation (FDIC). The mitigation effect becomes higher as the fraction of assets resolved through auctions and auction competitiveness increase.     

Default contagion and systemic risk in loan guarantee networks

This paper studies systemic risk in the Chinese debt market stemming from inter‐corporate loan guarantees using field data from Zhejiang Province. We apply a weighted and directed network model to analyse the implications for default contagion and systemic risk under different stress testing scenarios. The empirical results indicate that the topology of the loan guarantee network is close to a ‘scale‐free’ structure, which is known to be robust against accidental failures but vulnerable to coordinated attacks. Hence, the network is able to cope with idiosyncratic shocks resulting from single company failures, but can easily suffer from more widespread contagion if a group of systemically important companies are hit by a targeted shock. We further demonstrate that within our sample of small and medium‐sized enterprise (SME) companies, increasing leverage reduces network stability and exacerbates the effects of contagion. More lenient bank lending policies increase the survival rate of sample companies and thereby reduce the losses from default contagion.     

A comprehensive approach to measuring the relation between systemic risk exposure and sovereign debt

Using an integrated model to control for simultaneity, as well as new risk measurement techniques such as Adapted Exposure CoVaR and Marginal Expected Shortfall (MES), we show that the aggregate systemic risk exposure of financial institutions is positively related to sovereign debt yields in European countries in an episodic manner, varying positively with the intensity of the financial crisis facing a particular nation. We find evidence of a simultaneous relation between systemic risk exposure and sovereign debt yields. This suggests that models of sovereign debt yields should also include the systemic risk of a country's financial system in order to avoid potentially important mis-specification errors. We find evidence that systemic risk of a country's financial institutions and the risk of sovereign governments are inter-related and shocks to these domestic linkages are stronger and longer lasting than international risk spillovers. Thus, the channel in which domestic sovereign debt yields can be affected by another nation's sovereign debt is mostly an indirect one in that shocks to a foreign country's government finances are transmitted to that country's financial system which, in turn, can spill over to the domestic financial system and, ultimately, have a destabilizing effect on the domestic sovereign debt market.     

基于VaR模型的商业银行体系系统性风险研究

本文以中国2016年之前上市商业银行作为中国银行业的代表,测算银行业系统性 风险VaR。整体来讲,我国银行业系统性风险较低,但VaR在2015年较高。虽如此,我国银行业资本持有量能够抵御银行体系的系统性风险。在系统性风险VaR贡献度方面,本文实证分析表明,在样本期间内,浦发银行、中国银行、农业银行、交通银行贡献度较高。银行体系系统 性风险VaR受GDP增长率和沪深300指数收益率的显著影响。     

基于经济资本管理的贷款系统性风险防范研究

在系统性风险防范的视角下,本文对经济资本管理的基本方法进行了重新梳理,发现现行的经济资本管理会导致亲周期效应问题,削弱其防范系统性风险的能力。为此,要在系统性风险防范目标下改进经济资本计量方法,以科学的系统性风险预测为基础确定经济资本限额,优化经济资本在行业和地区层面的分配,以及通过贷款集中度管理追求风险分散最大化,从而实现对系统性风险的有效防范。     

系统性金融风险的监测和度量——基于中国金融体系的研究

国际实践表明,系统性金融风险不仅危及金融稳定,更会给宏观经济和社会财富造成巨大损失。在国际金融危机带来的外部风险输入和我国转轨阶段自身周期性和结构性问题叠加的背景下,我国实体经济与金融体系面临的风险上升并逐步显现。如何构建系统性金融风险的监测和度量方法,从而有效地识别、防范和化解风险成为一个重要而紧迫的课题。本论文借鉴国内外最新的研究和实践成果,在国内外现有研究尚不成熟的方面深入探索。论文将系统性金融风险产生的原因归纳为内部和外部两大因素,将传导机制归纳为内部传导和跨境传导,将扩散机制归纳为信贷紧缩机制、流动性紧缩机制和资产价格波动机制。立足我国转轨体制特点和当前系统性金融风险状况,论文提出了包含7个维度的系统性金融风险综合指数,在采用马尔科夫状态转换方法对综合指数进行实证分析的基础上,识别和判断风险指标的状态和拐点,并度量和预警综合指数状态转移的信息,由此有效衔接宏观审慎和微观审慎,构建一个既可以综合分析整体风险,又可以分解进行局部研究的系统性金融风险监测和度量方法。综合指数模型还引入了指数修正机制以更好地适应中国金融市场的动态发展。     

工作重塑对工作投入的影响：基于优势比较分析方法

文章旨在探讨三维工作重塑量表与四维工作重塑量表、同一量表不同维度对工作投入相对解释力。采用问卷调查,以327名员工为被试,运用回归分析、优势比较分析对假设进行检验。结果表明：(1)任务重塑、认知重塑与工作投入显著正相关,关系重塑与工作投入不相关,且任务重塑、认知重塑与关系重塑对工作投入的解释力依次递减;(2)增加结构性工作资源、增加挑战性工作要求正向预测工作投入,而减少阻碍性工作要求、增加社会性工作资源对工作投入的影响不显著,且增加结构性工作资源、增加挑战性工作要求、减少阻碍性工作要求、增加社会性工作资源对工作投入的解释力依次递减;(3)四维工作重塑量表对工作投入的解释力高于三维工作重塑量表,但差异不大。     

现金流量表分析与应用研究

现金流量是企业生存和发展的命脉,而现金流量表是反映一家公司在一定时期现金流入和现金流出动态状况的报表。通过现金流量表提供的信息,信息使用者可以掌握企业资产变动情况,了解企业的资产流动性、偿债能力和支付投资者报酬能力。现金流量表是企业投资活动成败的晴雨表,对企业的发展非常重要,其为改善企业资金管理指明了方向。