从源头上构筑顶岗实习质量保障体系

顶岗实习是高等职业教育不可或缺的教学环节,要确保顶岗实习质量,必须从理念转变、方案设计、教学延伸、利益维系等方面构筑顶岗实习质量保障体系。     

人权与法制的关系及其发展的历史考察

人权法制化往往是先形成政治原则宣示和宪法中的人权原则,再逐步构建人权法律体系。从世界范围来说,先有国内人权立法,再发展到国际人权立法,反过来又推进国内人权法制。人权与法制不可分割。人权是法制的核心内容和根本价值,法制是人权的体现和保障。努力实现和健全人权法制,才能更好地保障和落实人权,全面发展人权事业。     

飞鸿公司的燃眉之急

飞鸿股份有限公司主要从事国内沿海和国际远洋货物运输业务。2008年，该公司准备增加公司的运力，购买一艘7万吨级的散装二手货船，而该船在二手船市场上国内外买家众多，竞争激烈。飞鸿公司急需在最短时间内融资到1500万美元购买该船，于是，飞鸿公司向Z银行提出融资申请。考虑到从海外购买船只需要等待政府批准，这与公司急需购买船只是相矛盾的，且在当时国际金融危机爆发和中国航运业指数下滑背景下，银行向飞鸿公司提供贷款会有较大风险，而银行又有向客户提供优质服务的使命，怎么办？Z银行做出决定变得非常艰难。该案例属于决策型案例，描述了Z银行经理层的决策场景和特定的决策过程。     

国际制度与新进入国家的相互合法化

通常的观点认为,制度先行者塑造国际制度,新进入国家接受国际制度的塑造。作者对这一理论观点进行了修正,认为新进入国家参与国际制度的过程也是国际制度提高其合法性的一个同步过程:国际制度需要通过容纳新进入国家的关切来提高自身合法性;同时,新进入国家的关切得到容纳要以其接受制度宗旨为前提。双方产生了相互合法化的需要,它们需要同步接纳对方的合理诉求。一方面,国际制度是制度先行者互动形成的规则体系,未能包含更广泛的国家的关切事项,其合法性因而是有限的。另一方面,新进入国家参与国际制度通常需要接受已有制度的基本宗旨,否则它可能不会被接受为新成员。如果双方不能实现相互合法化,那么新进入国家与国际制度的关系将止步不前。而如果双方实现了相互合法化,使新进入国家取得国际制度成员资格成为可能。其结果是,新进入国家取得了为未来制定规则的机会,因而能够对国际制度的未来走向产生持续影响。     

商业银行拓展地方政府融资平台业务的前景与策略

商业银行发展政府融资平台业务,能够通过放贷获得经济收益,提高市场份额,密切银政关系,提升市场美誉度。但地方政府融资平台可能给商业银行带来责任主体模糊、杠杆率偏高、偿付风险、流动性风险、项目合规风险和政策性风险等风险;在金融体系层面,融资平台贷款信用承诺实际上是商业银行的自我授信。如果风险控制不当,政府债务风险、房地产开发企业债务风险等有可能集中于商业银行,使后者成为风险集聚的洼地。发展融资平台业务,应合理利用资产证券化,严格授信制度,采用银团贷款,加强财务监督,以及探索投资市政债和利用直投方式灵活介入项目等。     

论中国法治进程中农民的平等权及其保障

平等权是我国公民的一项基本权利。作为公民的农民,应享有与其他社会主体平等的权利,但目前我国农民的经济权、教育权及财产权等方面的权利仍然得不到平等和应有的保障。农民权利的法律保障是法治建设不可回避的问题,因此,我们必须立足我国的客观实际,构建农民权利法律保障制度,采取切实措施促进和保障农民的平等权利。     

Optimal portfolios with a positive lower bound on final wealth

We consider the determination of optimal portfolios under a lower bound on the final wealth. Possible applications range from capital guarantee strategies over life insurance investment where part of the benefit is a guaranteed return on capital to continuous-time mean-variance problems with a strictly positive lower bound. Our solution method consists of transforming the original problem into a portfolio problem without a positive lower bound but a transformed utility function and a modified initial wealth.     

A Portfolio's Country Exposure Management: The Case of Latin American Mutual Funds

This study empirically examines the forecasting ability and performance of Latin American fund managers by evaluating changes in portfolio country exposure. It employs a methodology based on attribution returns. An attribution return is defined as the difference between the actual monthly fund return and the return that would have been generated by the previous month portfolio's country exposure. The study finds three major results. In the aggregate, Latin American fund managers demonstrate forecasting ability as evidenced by a positive and statistically significant attribution return. The fund managers outperform a regional benchmark when measured with Jensen's alpha, and the attribution return is positively correlated with alpha. Attribution returns are mostly negative during periods of financial instability in the region.     

论物业管理安全保障体系的建设

在后勤基地的物业管理工作中,要做到安全工作层层把关,严格遵守各项安全生产规章制度,加强领导的安全监管责任,加强安全管理的奖罚制度,将安全工作扎扎实实的搞好,将事故隐患消除在萌芽状态。     

Why is timing perverse?

The existence of negative market timing, even for passive portfolios, poses a relevant puzzle when assessing portfolio management. In this paper, we develop a simple theoretical model so as to explain why such perverse market timing might occur and why those stocks with the lowest beta in upward markets exhibit pronounced negative timing. Our explanation is based on the existence of higher correlations of stocks in down markets than in up markets. We find that changes in beta, which drives timing, has four components; however, just two of these, mean covariance shift and covariances dispersion map, serve to explain the asymmetric behavior across stocks. We find that a high percentage of the negative market timing ability identified for mutual funds in the literature could be explained by this bias.