资产证券化——房地产开发融资的新途径

房地产业是一个投资大,回报周期长的行业,尤其需要大量的资金支持。由于我国金融体制的限制,房地产业的发展高度依赖银行,从购买土地后的土地抵押贷款,建设中房地产开发企业贷款,流动资金贷款,到销售过程中的按揭贷款,银行几乎成为房地产业唯一的融资渠道。据披露,目前全国房地     

Chinese consumer finance: A primer

Chinese consumer finance has been booming recently, especially since 2014. However, research on this topic is scant. This study presents an updated analysis, providing original, significant contributions for academics, investors, and policymakers. We explore five perspectives: (1) macroeconomics: policies adopted by the Chinese government to enhance economic growth through promoting personal consumption; (2) financial market: China’s different types of consumer finance institutions and their financing; (3) consumers: improvements in financial inclusion and consumer protections; (4) regulations in the context of supply-side structural reforms; and (5) potential areas for future academic research.     

Raising the returns to venture finance

Investors in ventures that threaten to disrupt the markets of incumbents can use the options markets to add value to their investments by purchasing put options on the stock of the disrupted rivals on the basis of their asymmetric knowledge. By making a profit on these derivative trades in the stock of the disrupted firms, the investor innovator is able to recapture from the market extra and immediate profits (equivalent to the value of the consumer surplus) generated by the innovation. These additional profits increase the incentive of investors to invest in disruptive ventures and so correct biases that have been observed against investing disruptive innovation. Our paper provides guidance as to how these effects arise and their value. It also explores the ethical, regulatory and practical constraints on undertaking the trades, pointing out that it is effective and the legality seems to be robust provided certain conditions are met.     

出口金融保驾宇通远航

8月17日，中国出口信用保险公司（以下简称中国信保）与宇通企业集团在郑州正式签署了战略合作协议。     

A network approach to strategy

The task of environmental analysis has a key role to play in formulating strategy and the strategic management process. How the process should be organised, however, depends largely on the theoretical perspective applied to both the nature of the business environment, and a corresponding understanding of strategic action within that environment. The objective of this paper is to develop a strategic analysis framework which incorporates the theoretical propositions in the markets-as-network model. The Swiss energy industry is used to provide the context to illustrate the framework's application. Finally we examine what it contributes to moving the markets-as-network model towards the explanatory level of inquiry.     

A four-step approach to 1992

Here's a four-step process to help you analyze both the opportunities and potential hazards of 1992. Even if you've already made your plans, it's a way to make sure you've considered all the implications of a Single Europe.     

A Buddhist approach to consumption

ABSTRACT

Typically we think of consumption in terms of material objects however consumption can be understood on many levels. In the vijananavada or Mind Only school of Buddhist Psychology, which underpins much of the currently popular practice of ‘mindfulness’, consumption is considered within a much broader framework of material objects, sensory input, motivation – as well as consciousness itself. Once a basic understanding of these four aspects of consumption is achieved, we begin to notice how we nurture certain states of being within ourselves and others and become cognizant of the capacity to be able to selectively choose what to nurture. This understanding is then a concrete and transformative mindfulness method.     

A quantitative approach to multinational production

I examine new data on the number and revenues of foreign affiliates of multinational firms across a large number of country pairs. The data shed light on the behavior of the intensive and extensive margins of multinational production (MP). To capture the patterns observed in the data, I build and calibrate a multi-country general-equilibrium model of MP that combines a Lucas (1978) span-of-control with an Eaton and Kortum (2002) type model, and includes both fixed and variable costs of opening affiliates abroad. I use the calibrated model to calculate the gains that a country would experience from liberalizing access to foreign firms. Those calculations suggest that the welfare losses of closing up to foreign firms would be around 4%, while the gains of liberalizing access to foreign firms would be large, particularly if the variable – rather than the fixed – component of MP costs were lowered.     

A customer-based approach to hospitality education

Hospitality management curriculum, the faculty at the sta? Florida consulted the customer—the hospitality ?ing what topics are absolutely essential. Among their operations-related skills were not high on the list.     

A systems approach to business intelligence

As one company found to its cost, there's more to business intelligence than the mere accumulation of data. Here's how one firm went about converting raw data to useful intelligence by setting targets and priorities and developing procedures for the evaluation, storage, and dissemination of information.     

A vigorous approach to customer service

PPG Industries, Inc. is the world's largest supplier of automotive original coatings. Its business-to-business customers require individualized service based on specific requirements. The company has solidified these relationships by establishing satellite supply facilities, applying the quality process to problem solving, and providing a variety of outlets for customer feedback.