完善等级行管理的思考

完善等级行管理的思考梁少云，吴臻今年初，农行全面推出等级行管理的新举措，以实现分类考核，重点监控目标。从实施半年多的情况看，效果明显。但仍有许多问题亟待解决。一、实施等级行管理的成效。等级行管理办法通过对基层行、办的人均存款增长率、存款市场占有率、活...     

加强农发行内控机制的思考

进一步完善农发行内控管理机制，实现对政策性银行业务经营全过程实施有效控制与管理的目标，切实加强防范和化解经营风险，已经成为农发行基层行深化改革和强化规范化管理中亟待解决的课题。为此，笔者结合实际作些探讨。     

健全完善经营机制,增强基层建行活力

<正> 一近几年来基层建行的发展,成绩是显著的。但也毋庸讳言,建设银行基层行企业化管理进展缓慢,经营机制很不完善,基层行的现状与我国经济形势的发展,与社会主义市场经济的要求很不适应。究其原因,主要在于建设银行管理体制的不合理,总、分行的高度集权,束缚了基层行的手脚,制约了基层行的发展。主要体现在:     

全面稽核应注重实效性

全面稽核应注重实效性省中行稽核处全面稽核是上级行对下级行的经营和管理进行现场周期性的比较全面的监督。全面稽核在我行尚处于试行阶段。通过近两年的试行，收到了一定的效果，对完善基层行内部管理，规范业务操作起到了促进作用，全面稽核百分考评试行办法的制定也对...     

论基层行处资产负债管理

<正> 专业银行基层行处实行资产负债管理,实现资金安全性、流动性、盈利性的最佳组合,是专业银行企业化经营的必然选择,正逐渐为基层行处所接受和重视.经营好现有的资产负债,对提高资金使用的社会效益和银行自身效益,建立和完善基层行处的自我激励、自我约束、调控自如的经营机制,实现信贷资金的良性循环,具有特别重要的意义。一.专业银行基层行处加强资产负债管理势在必行1.金融宏观调控的必然要求.专业银行是金融体系的主体,中央     

强化内控管理有效防范风险促进全行业务又好又快发展——赴滁州、马鞍山分行调研报告

根据省分行党委关于开展调查研究的部署安排，本调研组先后赴滁州、马鞍山分行，就两行开展学习实践活动、业务经营情况和年度计划达成情况、明年工作思路等开展调查研究，并着重就两行内控管理、案件治理工作作了具体了解，分析存在的问题，听取基层的建议和意见，为全行进一步完善内控措施、有效防控案件提供参考。     

强化密码管理 有效防范风险

最近，笔者无意间通过农业银行内部办公自动化网络，用远程登录命令访问到了某县某一基层网点的新一代业务系统的计算机上，以root或以abis注册均能成功登录。通过这件事，结合平时工作中的见闻，联系有关案件事例，笔者认为对于基层行营业单位新一代业务用机和系统方面的密码管理亟待强化和完善。以便防止利用密码管理缺陷作案或进行破坏活动。现就密码管理问题提几点粗浅的看法。     

对西部基层商业银行提高经济增加值的思考

实施以经济增加值为核心的绩效考核，在金融资源匮乏的西部欠发达地区，基层行面临着经营核心目标与业务计划体系的统一、经营效益增长与市场份额增长的关系、产品定价机制问题、相对单一的信贷资产结构与降低经济资本占用、财务核算体系中业务风险体现不充分等两难选择。西部基层行必须从转变经营理念，完善组织结构，构建与完善管理信息系统、业绩评价系统、部门预算等方面创造条件为推行经济增加值奠定基础。在经济资本约束下，西部基层行在经营管理工作中要牢固树立价值最大化的经营理念，平衡好规模与效益的关系，加快经营结构的调整及强化风险管理等。     

农行基层行经营管理问题的探讨

目前农业银行基层行的经营管理问题 ,已经成为全行关注的焦点。审视上级行对基层行管理的现状 ,不能不看到存在的如专业化程度低、改革深度和广度不足等诸多缺陷。其一总、分行对基层行缺乏一套规范的评价标准 ,从而难以制订一套综合、规范、可操作的和相对稳定的评价办法 ,对基层行经营管理的优劣进行评价。其二、对基层行的检查评价流于表面化 ,较少进行由此及彼、由表及里、由现象到本质的深入考察。并且受道德及人情因素的影响 ,上级行往往难以切实了解基层行经营管理的真相。其三、对基层行业务的考察评估没有完善的制度规定 ,年度考评…     

县级人行会计核算实行柜员制的可行性探讨

会计管理作为县级人行各项管理工作的基础，其质量高低直接影响到基层央行正确履行职责的有效性。如何解决县级行人员少、系统多的情况，以全新的思维方式做好各项工作，会计核算实施柜员制是有效解决这个现实问题的途径。     

升值之言该如何听

自今年6月中国暗示将松动人民币汇率以来,人民币升值幅度仅为0．4％,这大大低于华盛顿的期待,因此,中美两国的关系日益紧张起来。随着失业率的膨胀,以及选举年即将到来,美国国会再一次将人民币汇率摆上了议事日程：9月6日,华盛顿两位高官为缓和中美关系前往北京,就人民币及其他重要问题进行高峰会晤,以期达成共识。     

商业银行如何应对利率市场化

最近,中国央行的利率政策传达出利率市场化步伐骤然加快的信号,沉浸在央行利率管制环境下的国内商业银行突然感到"利基"竞争的性质发生了重要变化。那么.在利率市场化环境下商业银行应采取怎样的风险偏好,才能使贷款定价覆盖风险溢价?这是银行管理者必须回答的问题。     

When to ally & when to acquire

Acquisitions and alliances are two pillars of growth strategy. But most businesses don't treat the two as alternative mechanisms for attaining goals. Consequently, companies take over firms they should have collaborated with, and vice versa, and make a mess of both acquisitions and alliances. It's easy to see why companies don't weigh the relative merits and demerits of acquisitions and alliances before choosing horses for courses. The two strategies differ in many ways: Acquisition deals are competitive, based on market prices, and risky; alliances are cooperative, negotiated, and not so risky. Companies habitually deploy acquisitions to increase scale or cut costs and use partnerships to enter new markets, customer segments, and regions. Moreover, a company's initial experiences often turn into blinders. If the firm pulls off an alliance or two, it tends to enter into alliances even when circumstances demand acquisitions. Organizational barriers also stand in the way. In many companies, an M&A group, which reports to the finance head, handles acquisitions, while a separate business development unit looks after alliances. The two teams work out of different locations, jealously guard turf, and, in effect, prevent companies from comparing the advantages and disadvantages of the strategies. But companies could improve their results, the authors argue, if they compared the two strategies to determine which is best suited to the situation at hand. Firms such as Cisco that use acquisitions and alliances appropriately grow faster than rivals do. The authors provide a framework to help organizations systematically decide between acquisition and alliance by analyzing three sets of factors: the resources and synergies they desire, the marketplace they compete in, and their competencies at collaborating.     

How to Tie Equity Compensation to Long-Term Results

Companies, investors, and regulators around the world are now seeking to tie executives' payoffs to long-term results and avoid rewarding executives for short-term gains. Focusing on equity-based compensation, the primary component of top executives' pay, the authors analyze how such compensation should best be structured to provide executives with incentives to focus on long-term value creation.
To improve the link between equity compensation and long-term results, the authors recommend that executives be prevented from unwinding their equity incentives for a significant time period after vesting. At the same time, however, the authors suggest that it would be counterproductive to require that executives hold their equity incentives until retirement, as some have proposed. Instead, the authors recommend that companies adopt a combination of "grant-based" and "aggregate" limitations on the unwinding of equity incentives.
Grant-based limitations would allow executives to unwind the equity incentives associated with a particular grant only gradually after vesting, according to a fixed, pre-specified schedule put in place at the time of the grant. Aggregate limitations on unwinding would prevent an executive from unloading more than a specified fraction of the executive's freely disposable equity incentives in any given year.
Finally, the authors emphasize the need for effective limitations on executives' use of hedging and derivative transactions that would weaken the connection between executive payoffs and long-term stock values that a well-designed equity arrangement should produce.     

NYSE execution quality subsequent to migration to hybrid

In October 2006, the NYSE began rolling-out phase three of a four-phase plan initiate its new Hybrid trading mechanism. The results show that this new trading platform introduced a much larger proportion of electronic transactions relative to floor auction transactions. This migration to electronic transactions is further evidenced by a mirror shift in price discovery from floor trades to trades marked for automatic electronic execution. In addition, the move to Hybrid trading introduced a significant decrease in inventory control costs, as well as a noticeable increase in trade persistence. Finally, the new trading platform has increased the speed with which orders are met, and has also decreased the proportion of executed shares which receive price improvement.

How to stop the race to the bottom

Standard tax multipliers are a widespread feature of fiscal equalization systems. A simple theoretical model shows that actual tax multipliers respond positively to changes in standard tax multipliers. This theoretical prediction is tested empirically using data on municipalities in Germany. A quasi-experiment in the state of North Rhine-Westphalia is exploited to identify the incentive effect. The empirical results confirm that local business tax policy is shaped by standard tax multipliers. They provide a straightforward practical tool to avoid a race to the bottom in local business tax rates.