浅谈房地产企业的财务风险管理

我国房地产企业起步晚、基础差,发展过程中并没有实现真正的规范化操作,造成了房地产企业负债率高,由此引发了巨大的财务风险,一旦控制不好财务风险,将会引发房地产企业的生存与发展困境.文章围绕房地产企业的财务风险展开讨论,具体介绍了房地产企业面临的财务风险类型,并分析了其成因,最后提出了做好房地产企业财务风险管理工作的一些建议,以期能够为房地产企业提供防范和化解财务风险的有效措施.     

房地产企业财务风险的防控

国家经济的增长,人们对建筑有了更高的要求,所以房地产行业迅猛发展,当然,房地产的崛起为国家的现代化建设起到重要作用.同时,也提升了经济的增长速率.但在竞争激烈的房地产环境下,企业面临着挑战,使得房地产企业产生严峻的财务风险,进而企业遭受严重的经济损失.因此,本文针对房地产企业存在的财务风险展开研究,分析财务风险的成因,提出有效防控财务风险的具体措施,以此来提升企业抵制风险能力.     

房地产企业财务风险评价体系的建立

在2010年的两会上,房价问题成为了全国人民关注的中心.本文为此在分析了房地产企业财务风险的特征及其成因后,指出进行房地产企业的财务风险评价能较好地显示和反映企业所存在的财务风险,并且通过实证构建了房地产企业财务风险评价指标体系.     

房地产企业财务风险管控探究

房地产行业作为国民经济发展的基础性行业,在我国经济发展中发挥着导向型的作用.但是随着我国步入经济新常态和国家限购等宏观调控政策的实施,房地产企业的发展受到了较大的影响,其经营风险特别是财务风险日益攀升.本文以房地产企业的财务风险为研究对象,以房地产企业的财务风险特点及其分类作为切入点,在分析房地产企业财务风险管理现状及其成因的基础上,提出具体的财务风险管控对策,以期能够有效提升房地产企业财务风险管控水平,促进其持续稳定发展.     

房地产企业财务风险控制研究

由于资金来源单一、资本结构不合理和项目开发周期长的行业特点,房地产行业的财务风险相比其他行业更大,因此必须对房地产企业的财务风险进行识别评估和控制防范.本文结合财务风险控制理论,分析了我国房地产行业财务风险的现状及成因,然后提出了财务风险应对措施.     

房地产企业财务风险的成因及其防范分析

房地产企业属于资金密集型企业,面临的财务风险较大,通过对房地产企业财务风险的成因进行分析,研究企业财务风险的具体特征,提出预防房地产企业财务风险的有效措施,建立完善的风险预警体系,以帮助房地产企业加强对财务风险的预防和控制.     

房地产企业财务风险防范研究

房地产业对推动国民经济发展具有举足轻重的作用,如何防范和控制财务风险是房地产企业需要解决的关键问题。近几年,房地产业基本上是负债融资,对资金的需求很大,加之国家出台了一系列的限购政策,导致房地产市场需求增速变缓,出现了大量存货,进入资金回收期,使房地产行业面临巨大的挑战,增加了房地产企业的财务风险。房地产企业亟须加强财务风险防范研究,采取相应措施有效控制风险。对此,文章分析了房地产企业的财务风险及成因,包括融资风险、投资风险和经营风险等,之后针对性地提出了房地产企业的财务风险防范措施,以期为我国房地产企业的财务风险管理提供参考。     

房地产企业如何把控财务风险

随着近年来我国经济的快速增长与城市化程度的日益加快,我国的房地产业迅速发展,已逐步成为现阶段国民经济的重要支柱.但是受到各种因素的影响,房地产企业在发展过程中也承受着巨大的财务风险,提高对财务风险的认识和把控是摆在房地产企业面前的一项重要课题.本文对房地产企业的财务风险及其把控进行了简要阐述.     

房地产企业财务风险管控研究

本文针对房地产企业的财务风险管控问题,首先全面的分析了房地产企业出现财务风险的主要成因,进而有针对性的提出了强化房地产企业财务风险管控的具体策略,可以为房地产企业经营管理工作的开展提供合理的参考.     

基于风险定位的房地产企业财务风险预警分析

目前,国内的房地产行业发展迅速,由此产生了产业过热等一系列问题,随之产生的还有一些财务风险问题,国家就此进行了相关宏观调控措施,但是房地产企业内部也需要正视自身所处的环境,针对财务风险采取预警和防控措施,如此才能保障房地产企业稳步发展.就此,本文在风险定位基础上进行了相关研究,望对企业发展提供帮助.     

Almanac of anticipations: The age of affluence—of anticipation—of anxiety—of automation—of discontinuity—of longing—of overkill—of space exploration

With this survey of developments in the futures field since 1945, I.F. Clarke completes his present series for Futures. He makes two major points: that forecasting techniques have become essential tools in the management of change; and that nuclear weapons and ecological problems have added a moral dimension to the study of the future. In the next issue of Futures he will start a new series on the range of future-thinking in the USA, from the expectations of the first settlers to the Star Wars programme.     

基金公司经营融资融券业务的问题审视

融资融券业务正式运营已经开展,为证券市场带来了革命性的改革,作为证券市场的一大主体,基金公司面对融资融券也迎来了新的发展方向和挑战,本文从融资融券业务的运行机制入手,分析了基金公司融资融券的新契机,并对其即将面临的问题进行审视和剖析,进而提出策略建议.     

对基层人民银行科技工作的几点建议

银监会分设后,人民银行将专司货币政策、金融稳定、金融服务三大职能。作为人民银行的分支机构,基层人民银行的工作重心也将从金融监管调整到这三大职能上来。人民银行的科技部门,就要积极运用科技手段,为人民银行履行新的职能发挥“服务、支持、促进、发展”的作用。一、围绕三大职能搭建五大平台经过“六五打基础、七五作准备、八五大发展”几个阶段后,人民银行相继实现了核算电算化、清算网络化和办公信息化。特别是近一两年来,陆续开通了大额支付系统、信贷登记咨询系统、会计四集中系统、金融信息服务网站等系统,人民银行信息化水平又…     

The Usefulness of Measures of Consistency of Discretionary Components of Accruals in the Detection of Earnings Management

Abstract:  Prior research has shown the prevalence of measurement error in models used to estimate aggregate discretionary accruals. In these models, the incremental information content of the various components of accruals is ignored. Limited prior research and data gathered from firms under Securities and Exchange Commission (SEC) litigation indicate that managers use either one or more than one component of accruals simultaneously, in a consistent way to manipulate bottom-line earnings in a given direction. I propose two measures that capture the consistency between the discretionary components of accruals and test their significance in earnings management (EM) detection in firms that have artificially added accrual manipulation and firms that were targeted by the SEC for accrual manipulation. There is evidence that this information is incrementally useful in detecting EM. This finding paves the way for improvements in the discretionary accruals measure by including consistency information from the components of aggregate accruals.     

社会主义所有制形式的改革、完善与共产党执政能力的提高

在中国,所有制形式的调整、改革与完善,先进生产力的发展,党的执政能力建设,是社会主义建设过程中密切结合在一起的三个不同层面的发展关系.应在相互促进和共同提高中促进社会的和谐发展,保证社会主义现代化建设战略目标的顺利实现.     

Summary of Results of Survey of Seminar Attendees

Abstract

The Society of Actuaries undertook a three-phase research project on mortality improvement in the three NAFTA countries: Canada, Mexico, and the U.S. Phase 1 consisted of a literature review of papers on projecting mortality levels in the future and a study of the trend in mortality improvement during this century. Phase 2 consisted of a discussion of different facets of modeling mortality rates at a seminar attended by 79 experts (actuaries, demographers, economists, and medical researchers) representing different countries. The last session of the seminar consisted of the completion of a survey by the attendees to obtain input for Phase 3, which would analyze the impact of mortality improvement on the social security system of each country. This paper summarizes the results of the survey.

The survey results illustrate the difficulty in forecasting mortality levels, because the effects of many factors that could have significant impact on mortality rates are unknown. This suggests the need for dynamic forecasting, which allows for the possibility of random shocks. A majority of the survey respondents believe that stochastic forecasting models, despite their complexity, have significant potential to add value. Respondents also believe that both historical data and cause-specific mortality forecasts are useful as input and also in validating forecasts of the aggregate levels of mortality. The challenge is to develop more sophisticated forecasting models to produce results that are relatively easy to interpret and to communicate these results to the desired audiences, including the public and policymakers.

The survey results suggest that the aggregate effect of lifestyle changes, medical advances, diseases, catastrophe, and physical environmental changes is an increase in life span. However, there is much uncertainty about the future. Respondents expect that beyond the year 2020 the mean annual rate of reduction in mortality for males age 65 and over will average about 0.58% for Canada, 0.76% for Mexico, and 0.67% for the U.S. The results for the female age 65 and over population are 0.64%, 0.83%, and 0.70%, respectively. The age 65 and over population is expected to see larger percentage reductions in mortality than the 0–14 and 15–64 populations. The reductions in male and female mortality will be ultimately the same, and the mortality levels in the three countries will ultimately converge, although differences may persist for decades.     

Separation of Unit of Account from Medium of Exchange

The separation of a unit of account (UoA) from a medium of exchange (MoE) in the commodity–money system is investigated by considering explicitly a seller's choice of UoA in terms of either an MoE or a unit of metal weight. If the likelihood of debasement of an MoE and its rate are high enough, the price is posted in terms of a unit of metal weight rather than an MoE. Interestingly, this MoE–UoA separated equilibrium yields the flexible nominal price, whereas an MoE–UoA integrated equilibrium yields the sticky one. This implies the nominal price rigidity in the fiat‐money system where MoE and UoA are integrated.     

银行软件项目外包管理分析

一、引言随着国民经济的不断发展,银行业务与外部企业的联系越来越密切。银行正逐步成为现代经济活动的中心,作为数据处理核心的银行业务应用也越来越大型化、越来越复杂化,因此许多银行也把软件项目逐步由原来的自主开发转变为与公司合作的方式,或直接外包开发的方式,银行本身的技术人员也逐步由开发转向项目管理。二、项目外包的分类银行项目的外包有以下几种情况:①部分子系统外包,有时由于银行的软件项目太大,单靠银行自身的开发力量基本无法在预定的时间内完成项目,只好把相对独立的部分外包;②直接购买软件公司的成熟产品,有些金融软…     

银行管理信息平台建设发展的思考

一、目前国内银行IT发展现状及面临的问题 银行数据集中工作的完成,标志着银行的业务由电子化建设阶段转入信息化建设阶段.一方面银行数据的集中提供了丰富全面的基础数据,面对日益庞大的数据源,如何将数字转化为对银行有用的信息,并从中发现知识,为银行的经营决策提供支持,是摆在银行IT人员面前的一个亟待解决的问题.另一方面用户对银行信息的需求日益增长,如果银行没有一套完整、实用的信息管理系统,将对业务发展非常不利.南京爱立信公司倒戈花旗银行事件曾经轰动一时,其中一个重要原因就是中国本地银行不能满足爱立信全球总部对南京爱立信公司的要求:每周财务上报和每天贷款限额管理.这一事件为中国商业银行的未来发展敲响了警钟,如果不加快管理信息系统的开发,迅速提升业务管理水平,类似的事件还会接连不断地发生,并最终导致国内商业银行在同国外商业银行的竞争中全面溃败.     

Properties of time-series estimates of degree of leverage measures

Empirical studies suggest that time-series regression estimates of the degrees of operating and financial leverage have a tendency to produce measures less than one. According to ex ante theory, these measures should be greater than one for firms operating above the breakeven point. There have also been suggestions that the biases in these estimates may be attributable to an underlying increase in unit sales. This work presents evidence that these counter-intuitive measures are produced by changes in the firm's operating parameters (unit price, variable cost, fixed cost and interest payments). It further suggests that attempts to control for the underlying change in unit sales substantially increase the volatility of predicted estimates.