以科学发展观统领财政工作积极支持社会主义和谐社会建设

2006年,财政支持经济社会发展取得新成绩,各项改革取得新进展。2007年是全面落实科学发展观、加快构建和谐社会的重要一年,必须始终坚持以科学发展观统领财政工作,进一步支持发展、增收节支,深化改革、加强管理,加快推进公共财政建设,为构建社会主义和谐社会提供有力保障。     

真抓实干 开拓创新 助力福建谱写经济金融工作新篇章

本文结合央行履职实际,指出金融工作必须贯彻党的十九大精神,以党的理论作为行动指南,始终坚持正确的政治方向,坚持以人民为中心的基本方略,坚持服务实体经济的最本质要求,坚定防范金融风险和推进金融改革,坚持公权力始终体现党的意志,把握好中央政策与地方诉求之间的关系,始终坚持不懈加强央行文化建设。并在总结党的十八大以来福建金融改革发展取得的成效及分析当前存在问题的基础上,从金融服务实体经济、防控金融风险、深化金融改革三个方面,阐述促进福建经济金融平稳健康发展的思路和举措。     

试论科学发展观视野下的西藏新农村建设

科学发展观是我国全面建设小康社会和推进社会主义现代化建设始终坚持的重要战略思想。不论是发达地区还是欠发达地区,都要用科学发展观统领经济社会发展全局,努力实现经济社会全面发展。西藏作为我国的欠发达地区,要推进新农村建设的步伐,就必须在科学发展观的指导下,集思广益,积极加强对外联系,不断探寻符合西藏实际的农业现代化道路。从而,进一步推进西藏新农村全面、协调和可持续发展。     

浅议商业银行如何落实科学发展观

科学发展观是我国经济社会发展的重要指导方针。商业银行必须落实科学发展观,是因为目前我国金融生态环境建设还不够完善、成熟,存在着一定的复杂性和不稳定性。商业银行科学发展观的内容是:以风险控制为前提,加强资本约束和成本控制,实现发展的规模与质量的统一;以资产、负债和中间业务的整体推进为目标,实现发展的均衡与协调的统一;以企业文化和员工队伍建设为根本,实现和谐发展与人本管理的统一。商业银行落实科学发展观的思路是准确把握发展定位,以科学发展观为统领;推进业务战略转型,奠定科学发展的基础;加快创新,塑造核心竞争力;实施全面风险管理,提高风险控制能力;构建和谐银客关系,确立多赢战略;坚持以人为本,建设和谐团队。     

浅议商业银行如何落实科学发展观

科学发展观是我国经济社会发展的重要指导方针。商业银行必须落实科学发展观,是因为目前我国金融生态环境建设还不够完善、成熟,存在着一定的复杂性和不稳定性。商业银行科学发展观的内容是:以风险控制为前提,加强资本约束和成本控制,实现发展的规模与质量的统一;以资产、负债和中间业务的整体推进为目标,实现发展的均衡与协调的统一;以企业文化和员工队伍建设为根本,实现和谐发展与人本管理的统一。商业银行落实科学发展观的思路是准确把握发展定位,以科学发展观为统领;推进业务战略转型,奠定科学发展的基础;加快创新,塑造核心竞争力;实施全面风险管理,提高风险控制能力;构建和谐银客关系,确立多赢战略;坚持以人为本,建设和谐团队。     

我国宏观经济形势与金融业改革和发展

中国金融业坚持市场化取向的改革方向,在改革开放30年里走过了辉煌的发展历程,取得了举世瞩目的成就。在经济金融全球化趋势不断加强的背景下,中国金融业面临着机遇和挑战,需要进一步加强宏观调控,继续深化金融改革,支持经济又好又快的发展。     

按科学发展观要求推进湖北分行纪检监察工作

科学发展观是指导发展的世界观和方法论的集中体现,是我们推进经济建设、政治建设、文化建设、社会建设必须长期坚持的根本指导方针。结合农业银行实际,在新世纪新阶段,纪检监察工作要更好地服务于当前股改和业务经营工作大局,确保3510目标的实现,因此必须自觉坚持以科学发展观为统领,切实按照科学发展观的要求来推进。     

政府招商引资的路径选择与策略分析

<正>随着经济改革的不断深化和对外开放的大力推进,我国的国民经济发展和市场经济建设成绩斐然,取得了举世瞩目的成就。在经济持续高速发展、市场长期稳定繁荣的良好环境下,招商     

提升区域核心竞争力 扎实推进新怀柔建设

依托首都经济辐射带动作用和区域资源优势,大力发展生态友好型的高端产业2008年是全面贯彻党的十七大精神的第一年,是北京奥运会的举办年,也将迎来改革开放30周年。2008年,怀柔区将以中国特色社会主义理论为指导,以科学发展观为统领,认真贯彻党的十七大精神和市委,市政府的决策部署,加快产业结构调整,转变经济发展方式,大力推进基础设施和社会主义新农村建设,深化体制机制改革,着力改善民生,全面提升怀柔区域核心竞争力,实现经济社会又好又快发展,扎实推进新怀柔建设。     

中国金融业改革成效、问题及政策措施

中国金融业坚持市场化取向的改革方向,走过了30年不平凡的历程,取得了举世瞩目的成就。在经济全球化趋势不断加强的背景下,中国金融业面临严峻挑战,需要加强宏观调控,深化改革,支持经济又好又快地发展。     

Debt and Taxes and Uncertainty

With a graduated personal tax schedule, Miller showed that there could be an equilibrium debt supply for the corporate sector as a whole. In the presence of uncertainty there is also a unique debt/equity ratio for each individual firm, and this ratio is related to the firm's operational risk characteristics. However, if firms merge and spin off in response to tax incentives, the identity of firms is ambiguous and only the corporate sector is a meaningful construct. These arguments are developed in both discrete and continuous models that employ extensions of the arbitrage-free pricing theory.     

教育与资本怎样的前景怎样的现实

来自政府的声音: "动员各种社会资源,发展教育" 此次论坛上财政部长助理张少春的发言是最受关注的发言之一.他的演讲传达出的信息有这样几方面:第一,谈到现实,他认为全社会对教育的巨大需求与我国公共投入不足已成为我国教育事业发展的突出矛盾.近年来,以公共部门投入为主,多渠道筹措教育经费的教育投入机制成为解决这一问题的重要途径,也使得公共部门与私营部门在教育领域的合作日益密切.第二,谈到前景,他认为,1.中国经济持续、快速的增长对高技能人才产生巨大的需求,这为私营部门的参与提供了广阔空间.2.随着公共财政职能的不断完善,财政资金将在各项教育事业中重新进行分配,进一步优化财政支出结构,提高资金的使用效率.在"十一五"期间,我国将把公共支出的重点转移到农村.我们将逐步把全体农村适龄儿童的义务教育全部纳入公共财政体制.     

Director gender and mergers and acquisitions

Does director gender influence CEO empire building? Does it affect the bid premium paid for target firms? Less overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make acquisitions and if they do, pay lower bid premia. Using acquisition bids by S&P 1500 companies during 1997–2009 we find that each additional female director is associated with 7.6% fewer bids, and each additional female director on a bidder board reduces the bid premium paid by 15.4%. Our findings support the notion that female directors help create shareholder value through their influence on acquisition decisions. We also discuss other possible interpretations of our findings.     

Political corruption and mergers and acquisitions

This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring firms to use excess cash for payment, which mitigates the negative effect of corruption on acquirer shareholder value. The evidence indicates that acquisitions help acquiring firms convert cash into hard-to-extract assets and relocate assets from the high to low corruption areas, thereby shielding their liquid assets from expropriation by local officials.     

East and west and north and south : A preliminary model

The Brandt report and other proposals for a new North-South world order continue to be the focus of lively debate, yet it is often argued that little concrete has emerged from their recommendations. A major reason for this, the author argues, is that the East-West conflict component is not sufficiently taken into consideration-East-West tensions are a severe constraint on and a determining factor of North-South relations. Using influence diagrams, the author develops a flexible framework for discussion and assessment of N/S-E/W relations.     

Trust and cross-border mergers and acquisitions

A number of studies suggest that social trust matters for investment. Using different measures of trust from World Values Survey, we show that countries where people display higher levels of trust engage in more cross-border M&A activities. When they do, these acquirers pay lower premiums. To the extent that these acquirers also tend to engage in larger acquisitions as well, our findings suggest that a larger selection pool of potential targets and higher value targets enable these acquirers to negotiate for lower premiums. We do not find evidence of the significant effect for target country trust levels. Hence, trust may benefit those acquiring firms in cross-border transactions.     

Tournament-based incentives and mergers and acquisitions

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm's CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms' stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms' managers to make greater efforts and take more risk that result in superior acquisition performance.     

Corporate Innovations and Mergers and Acquisitions

Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent portfolios and low R&D expenses are acquirers, while companies with high R&D expenses and slow growth in patent output are targets. Further, technological overlap between firm pairs has a positive effect on transaction incidence, and this effect is reduced for firm pairs that overlap in product markets. We also show that acquirers with prior technological linkage to their target firms produce more patents afterwards. We conclude that synergies obtained from combining innovation capabilities are important drivers of acquisitions.