保险银行强强联手打造全新合作模式

瑞泰人寿保险有限公司与中国工商银行北京市分行在京签署《全面业务合作协议》。双方将建立全面、深层次的长期战略合作伙伴关系,共同推出长期投资储蓄一体化解决方案和相关服务,开创全新的专业合作营销模式。瑞泰人寿推出的个人长期投资储蓄的旗舰产品——“财富工程”将进人工行北京分行的理财中心与消费者见面。     

Let us work together: The impact of customer strategic alliances on IPO underpricing and post-IPO performance

Leveraging the availability of three years of pre-IPO data and related vs unrelated-party customer information for Chinese firms, we examine the impact of customer strategic alliances (CSA) on IPO underpricing from 2007 to 2015. Our core findings suggest that IPO firms with CSAs have less IPO underpricing than those without such a relationship. The decrease in underpricing is more salient for IPO firms that have non-related-party customers. Additional analysis suggests that the core findings are primarily driven by firms with good information environment pre-IPO, including high audit quality, high analyst following, and low earnings management. We interpret the results as indicating that a good pre-IPO information environment enhances the credibility of CSA relationships and signals high IPO quality. Furthermore, we document that a CSA relationship has a positive impact on an IPO firm's post-IPO performance, especially when the firm has non-related-party customers. Overall, CSAs reduce IPO underpricing and enhance IPO returns post-IPO.     

Bringing minds together

Boston Scientific founder John Abele has been party to his share of groundbreaking innovations over the years. But the revolutionary advances in medical science that these breakthroughs brought about were not the efforts of one firm alone, let alone one inventor. Abele tells two fascinating stories of collaboration--one about Jack Whitehead's upending of hospitals' blood and urine testing procedures and the other about Andreas Gruentzig's success in bringing balloon catheterization into the cardiology mainstream. Both Whitehead and Gruentzig spearheaded the emergence of entirely new fields, bringing together scientist-customers to voluntarily develop standards, training programs, new business models, and even a specialized language to describe their new field. The process of collaboration, Abete says, is fraught with contradictions and subtlety. It takes consummate leadership skills to persuade others to spend countless hours solving important problems in partnership with people they don't necessarily like. Moreover, managing egos so that each person's commitment, energy, and creativity is unleashed in a way that doesn't disadvantage others requires an impresario personality. Finally, true authenticity--something that few people can project--is critical for earning customers' trust and convincing them that their valuable contributions won't be used for anything other than moving the technology forward.     

Orchestrating a creative learning environment: Design and scenario work as a coaching experience - How educational science and psychology can help design and scenario work & vice-versa

This article considers design and scenario work as a team-coaching experience. It presents the componential theory of learning in coaching and the underlying componential model of creative learning, highlighting some ideas and showing some possibilities of using them for creating and implementing a creative learning environment necessary for the success of both design and scenario work. The benefits of other methods and tools of educational science and psychology are also briefly described. Finally, possibilities arising from the new as well as the usual perspectives on design and scenario work for educational science and psychology – more precisely, coaching and creativity research – are dealt with. In the last section of the article, general principles used are highlighted and summarized. Some connections to fundamental questions of the role of sciences, arts, theory and practice as well as of the location of design and scenario work are discussed. Thereby, a possible solution to the related controversy is initially proposed. Overall, this article shows some of the areas in which educational science and psychology, on the one side, and design and scenario work, on the other, can be of mutual benefit. It aims to initiate further discussions about connections among the mentioned fields, and seeks to suggest some possibilities for interdisciplinary research and utilization of its results.     

We're in this together

When managers from Wendy's International and Tyson Foods got together in 2003 to craft a supply chain partnership, each side had misgivings. There were those in the Wendy's camp who remembered past disagreements with Tyson and those on the Tyson side who were wary of Wendy's. But the companies had a tool, called the "partnership model,'to help get things started on the right foot. Drawing on the experiences of member companies of the Global Supply Chain Forum at Ohio State University, the model offers a process for aligning expectations and determining the most productive level of partnering. It rapidly establishes the mutual understanding and commitment required for success and provides a structure for measuring outcomes. This article puts the tool in the reader's hands. Partnerships are justified only if they stand to yield substantially better results than the firms could achieve on their own. And even if they are warranted, they can fail if the partners enter them with mismatched expectations. Over the course of a day and a half, the partnership model elucidates the drivers behind each company's desire for partnership, allows managers to examine the conditions that facilitate or hamper cooperation, and specifies which activities managers must perform to implement the relationship. This tool has proved effective at Wendy's and elsewhere in determining what type of partnership is most appropriate. Colgate-Palmolive, for example, used it to help achieve stretch financial goals with suppliers of innovative products. But the model is just as effective in revealing that some companies' visions of partnership are not justified. In matters of the heart, it may be better to have loved and lost, but in business relationships, it's better to have headed off the resource sink and lingering resentments a failed partnership can cause.     

Acting together: Intergenerational values and wisdom

Future values and wisdom in a generational sense is a challenging topic to wrestle with at an international conference, especially one which focuses on action in the present. Session Two at the 2005 WFSF World Conference in Budapest was titled ‘Counting on Each Other’, represented through the papers presented here and the group's discussion related by the author. The papers were grouped into four areas—Futures Studies and Methods; Values; Sustainable Development; and Rights and Ethics. After reading the issues which were raised, and the conclusions that were reached, the reader should appreciate the complexity of the topic. In particular, the difficulties faced by a group of people who wished to explore this topic, its related images of the future and the actions generated for the present is a microcosm of the difficulties faced in the wider world when trying to deal with these issues for the future.     

共商跨国投资大计

中国对外投资合作洽谈会(以下简称"对外投洽会")2009年11月3~4日在北京召开.原中国国务院副总理曾培炎在开幕辞中有一个权威说法:"对外投洽会"是"共商跨国投资大计,一起帮助中国企业对外投资出谋划策",对中国企业在"走出去"过程中如何与世界互动,曾培炎给出他的良策,说:"中国企业要深入地研究投资对象国的法律法规和风俗文化,善于反握市场的机遇,有效应对潜在和现实的风险,各极介入各种投资合作平台,因地制宜地实现与投资所在国的共同发展.     

检索百度内控

实施内控,如同是打一场大的战役,要应对来自企业内外部众多的挑战。百度的经验,让我们看到坚持的积极意义。     

张逢春:三管齐下

"在当前错综复杂的经济、金融形势和激烈竞争的企业经营环境下,作为企业总会计师,如何解决企业扩张动力、发展惯性与资金瓶颈之间的矛盾,是我目前面临的最大的困难和挑战。"这是中国港中旅集团(以下简称"港中旅")董事、党委委员、总会计师张逢春坐在"第五届中国CFO年会"对话舞台上的开场白。这句话,相信许多企业CFO都有同感。尽管有压力,有困惑,有挑战,但张逢春仍旧为港中旅找到一条属于自己的资金管理和资本运营之路。张逢春将港中旅应对挑战、破解难题的措施和办法概括为:搭建两个平台、利用两个市场、采取两种融     

PwC与中国市场发展并驾齐驱

作为普华永道中国区主管合伙人，林怡仲先生对中国大陆、中国香港及国际会计制度和股票发行的政策法规等尤为熟识，在上市工作方面有多年的专业经验、并曾担当过超过十个上市项目的负责合伙人，包括H、N、B股及中国概念股在香港挂牌上市和在美国NYSE及NASDAQ交易所挂牌上市。在他领导下的普华永道中国，与中国快速发展的经济并驾齐驱，在专业服务领域发挥了重要作用，使普华永道中国跻身普华永道全球各国／地区公司规模排名第五位。我们惊叹普华永道的发展速度，更愿意探究普华永道缘何成为中国市场最值得信赖的专业服务公司之一，也更希望从林怡仲先生这里获得对美国次贷危机影响全球经济的深层思考，以及对中国资本市场现行表现的真知灼见。为此，《国际融资》杂志记者专程采访了他     

绿色保险与低碳经济相伴俱进

近年来中国可再生能源产业发展迅速,特别是风电、水电方面,中国已进入可再生能源大国行列。为了达到2020年将二氧化碳排放比降低40%到45%并使非化石能源占一次能源消费的比重达到15%左右的目标,中国将需要付出巨大的努力。在众多发展机遇显现的同时,也会有诸多潜在的风险浮出水面。如何规避这些风险,迫切需要保险业继续加强对低碳经济及新兴产业的调查研究、     

高扬思想政治工作风帆——工行台州分行强化思想政治工作促进和谐发展

日前,在全国金融系统思想政治工作暨建设社会主义新农村“双先”表彰会议上,工商银行浙江省台州分行荣膺全国金融系统2007年度思想政治工作先进单位,其思想政治工作先进经验在会上交流,获得与会人员的一致好评。     

春雨润物催生机——工行开封分行荣获全国金融系统“思想政治工作先进单位”纪实

工行河南省开封分行坚持以人为本,始终把不断深化和创新思想政治工作作为营造和谐银行、促进经营发展的源泉和动力,常抓不懈,取得了良好成效。近几年,先后荣获国家级文明单位、“全国巾帼文明示范岗”、“全国全民健身活动先进单位”、工总行“先进职工之家”等荣誉称号,连续多年实现无信访、     

试论现代风险导向审计在农行高管责任审计中的应用

现代风险导向审计是在账项导向审计和内控导向审计等传统审计模式基础上发展起来的,通过对被审计单位全面风险评估,量化风险,把审计资源集中于高风险领域,使剩余风险降低到可接受水平的一种审计方法。本文介绍了现代风险导向审计的特征,就在农业银行高管人员责任审计中引入现代风险导向审计技术的迫切性展开分析,着重探讨了现代风险导向审计在高管责任审计中的应用方法,并提出了为引入现代风险导向审计创造条件的措施。     

荟萃企业IT理念助力金融IT建设——与IT企业共同关注金融信息化

以客户为中心,实现金融管理信息化 在科技高速发展的今天,金融服务已经打破了区域上的限制,扩展到网络上的虚拟空间.同时高度的信息化在技术上保证了金融产品的不断创新,保证了银行可以为客户提供更加人性化、智能化和自助化的服务,这些服务既拓宽了银行业的经营视野,又实实在在地为银行争取了大量稳定的客户群.当前国内银行相对落后的信息化技术水平和较低的服务应用水平,意味着其物理网点多的传统优势将会逐渐丧失,因此国内银行业只有不断加强在技术上的投入,通过提高技术、应用水平,提高科技含量,改进运营体制,改进服务手段,切实提高服务水平来提高自身的竞争能力,才能在竞争中立于不败.     

Piecing together the extent of retail fractional trading

We examine the introduction of fractional trading and its impact on retail security ownership. Fractional trading aims to increase investor access to securities with high prices. Over the initial months of Robinhood’s fractional trading program, the number of unique owners increases approximately 53 percentage points more for stocks priced above $100 versus those priced below $50. Intraday, high-price stocks exhibit incremental ownership growth specifically during periods when fractional trading is permitted. Our results show that Robinhood investors make ample use of fractional trading to acquire previously inaccessible securities, indicating a substantial reduction in price-based investing frictions and carrying implications for retail portfolio management. In addition, we show that potential market impacts of fractional trading appear negligible based on share volume data from multiple brokers with fractional trading programs.     

多方给力住房建设

房地产业作为我国国民经济的支柱产业,能够直接或者间接引导相关产业的发展,对国民经济的健康运行有重大影响。“住有所居,民心则安”,加强和完善住房保障,解决中低收入家庭住房困难问题进而推进中国住房建设进程,无疑是社会和政府共同关注的焦点问题。