辽宁省金融脆弱性研究

当前关于金融脆弱性的研究集中于国家这一宏观层面，对于省域金融脆弱性的研究还存在相当大的研究空间。正是基于这样一种相对创新性的视角，在对金融脆弱性现有研究进行综述的基础上对辽宁省的金融脆弱性的诱因进行了分析，并提出推动非银行金融机构的发展、拓展规模较大的银行的非利息收益以提升银行盈利能力以及全力清除不良贷款是应对辽宁省金融脆弱性的可行策略。     

Investor behaviour and reaching for yield: Evidence from the sterling corporate bond market

We provide evidence on how corporate bond investors react to a change in yields, and how this behaviour differs in times of market‐wide stress. We also investigate ‘reaching for yield’ across investor types, as well as providing insights into the structure of the corporate bond market. Using proprietary sterling corporate bond transaction data, we show that insurance companies, hedge funds and asset managers are typically net buyers when corporate bond yields rise. Dealer banks clear the market by being net sellers. However, we find evidence for this behaviour reversing in times of stress for some investors. During the 2013 ‘taper tantrum’, asset managers were net sellers of corporate bonds in response to a sharp rise in yields, potentially amplifying price changes. At the same time, dealer banks were net buyers. Finally, we provide evidence that insurers, hedge funds and asset managers tilt their portfolios towards higher risk bonds, consistent with ‘reaching for yield’ behaviour.     

Derivative activities and the risk of international banks: A market index and VaR approach

The results of a comparison of international banks using a three-factor multi-index model and a modified value-at-risk (VaR) analysis indicate that the use of options increases the interest rate beta for all banks, while both interest rate and currency swaps generally reduce risk. The results are the strongest and the most consistent for U.S. dealer banks, followed by European banks, and then Japanese banks. Furthermore, the evidence suggests that the VaR approach to risk management can effectively be used by both domestic as well as international banks, although the results appear to be somewhat sensitive to the regulatory environment in which the bank operates.     

城市旧住宅小区管理模式研究

城市旧住宅小区管理模式有物业管理模式、社区管理模式和单位自管模式之分。旧小区管理模式改革和创新是建立政府行政管理与居民(业主)自治管理相结合、社区管理与物业管理相结合的混合型管理模式,其实现途径是加强政府对旧小区管理的领导和支持,充分发挥小区自治组织的作用,积极推行物业管理模式,更新思想观念,提高物业管理服务水平,建立物业管理与社区管理相结合的运作机制,加强法制建理服务设。     

国内个人理财业务发展探析

近年来,个人理财业务在我国金融市场中得到了快速的发展,使该业务成为了商业银行新的利润增长点.根据我国商业银行业务现状,结合香港的个人理财服务之鉴,分析国内理财业务存在的问题,提出对策建议.     

日本主银行制度演变的路径分析

日本主银行制度源于战前的银行体制和二战期间的“军需企业指定金融机关”制度。战后，日本金融体制基本被保留下来，在日本经济恢复和高速增长期，日本企业与银行通过相互持股紧密结合起来，形成了企业和银行相互促进、共同发展的良性循环．但是，在20世纪90年代日本泡沫经济崩溃以后，紧密的银企关系加剧了企业危机与银行危机的连锁反应，导致银行与企业相互羁绊的恶性循环．     

New Labour and Community Protests: the Case of the Govanhill Swimming Pool Campaign, Glasgow

Taking the case study of a community based protest against the closure of a swimming pool in Glasgow, this paper seeks to raise important critical questions about some of the key ideas informing New Labour's urban policy agenda: social capital and active community. It argues that normative notions of active citizenship seriously conflict with bottom-up community protests, highlighting in the process issues of power and inequality. Against claims that New Labour is promoting government through community, here we claim that in the context of this community protest, there was government against community.     

Sources of Bank Interest Rate Risk

We investigate bank stocks'sensitivity to changes in interest rates and the factors affecting this sensitivity. We focus on whether the exposure of commercial banks to interest rate risk is conditioned on certain balance sheet and income statement ratios. We find a significantly negative relation between bank stock returns and changes in interest rates over the period 1991–1996. We also find that bank characteristics measured from basic financial statement information explain bank stocks'sensitivity to interest rate changes. These results suggest that bank managers, analysts, and regulators can use this information to assess the relative risk exposure of banks.     

国有银行应战外资银行的初级阶段及对策

国有银行面临着中国入世后外资银行的强大挑战。在中国银行业逐步开放的过程中，将会形成一个双方竞争的初级阶段。这个阶段是国有银行在同对方全面竞争前调整自己，适应新对手、新环境的难得机遇。本文分析了竞争初级阶段的特征及对手可能采取的策略，并阐述了发挥国有银行竞争优势、提高技术水平和管理能力的基本对策。     

Financial Globalization,Social Exclusion and Financial Crisis

This paper suggests one set of mechanisms that ties financial globalization processes to local dynamics of financial inclusion or exclusion. Specifically, this paper explores the worldwide reconsideration of financial firms’ strategies that has accompanied financial globalization. It is shown that the neoliberal and asymmetric‐information approaches to credit markets and financial crises in developing economies overlook these dimensions of financial globalization because of their tendency to focus on representative credit markets. Banks’ strategic shift has led to the global homogenization and stratification of financial practices—and this in turn has been a key driver of processes of financial exclusion. Financial exclusion then involves bifurcation within financial markets, so that different markets serve different portions of the household and business population. This analysis suggests a reconstruction of Minsky’s microfoundational model of the origins of financial fragility and crisis, which shifts from Minsky’s emphasis on a representative borrower–lender relationship to a situation of borrower–lender relationships in bifurcated markets.