媒体聚焦

工行首次向地震灾区捐款1200万元;工行受灾客户贷款期限可延长一半;工行发放首张抗震救灾联名卡;工行：第一时间恢复营业;工行累计捐款1亿500多万元     

在大灾面前“崛起”——四川金融系统全力投入抗震救灾行动

4月28日上午,工行在雅安芦山地震灾区设立的"板房银行"正式开门营业。在位于芦山县迎宾大道路边的"板房银行"门口,一位前来办理业务的客户告诉记者:"听说板房银行今天开业,专门来这里转账。虽然板房银行的营业条件与原来相比显得有些简陋,但服务几乎没有差别。"工行四川分行工作人员告诉记者,为进一步改善地震灾区居民的金融服务条件,工行连夜在芦山县搭建"板房     

媒体聚焦

工行四获“中国最佳零售银行”业绩大幅提升;工行四天在灾区新建成一家全功能网点;工行获准在港设投行子公司;工行“利添利”盘活活期储蓄;工行五单位荣获抗震救灾重建家园“工人先锋号”荣誉称号……     

转化

只要在工行的岗位上,那所说所做都会牵扯到工行荣誉,否则,客户就会抱怨说：“你们银行就这个样子？……”有的事情很简单,可以说是举手之劳,若事不关己高高挂起,被“忍无可忍”的客户投诉了就很“倒霉”,并“连累”一串人,这种“倒霉”一定程度上就是怪自己。     

大爱无疆：赈灾捐赠伸援手——工行四川省分行抗震救灾系列报道之四

“5.12”大地震后，灾区父老乡亲的生命救援和家园重建，深深牵挂着工行人的心。在省分行党委的组织领导下，全省工行系统干部员工踊跃捐款，迅速构建起社会捐赠的快捷汇款通道。涌动的爱心，在工行人的接力下源源不断汇集到灾区……     

“芳”香缕缕醉客户

从大学教室到工行一线服务窗13,在两年的时间里,她用心、用情,漂亮地完成了角色转换。凭着对专业的热爱和客户的真情,她的服务如同她的名字,“芳”香四溢,远近的客户慕名而至。她。就是工行湖北省分行“优质服务明星”、工行十堰市城中支行员工邹芳。     

媒体聚焦

工行明确中小企业为战略重点;工行期盼赴台开办业务;工行个人网银客户突破5000万户;工行获准在纽约设立分行;工行金融风险管理师达140名,占全国总数逾10％;工行上半年盈利居全球2首;工行主动减持“两房”债券;工行与银联联手相强国际业务合作。     

媒体聚焦

工行为在苏台资企业融资逾34亿元;工行开启大学生创业贷款;工行全力支持四川灾后重建与经济发展;工行打造“首都客户满意度最高”银行;工行今年计划新增贷款投放5300亿元     

工商银行

春节长假期间工行根据春节金融服务需求的特点,制定了一系列有针对性的服务方案,努力为广大客户提供方便快捷、丰富多彩的春节会融服务。例如,春节期间工行统筹安排网点的营业时问,保证足够数量和服务覆盖半径的网点开门营业;对于在节日期间有融资需求的商贸和旅游企业,工商银行还可通过网络循环贷款等创新金融产品提供全天候的服务,积极为扩大假日内需提供融资支持;与此同时,工行在春节期间还开展了一系列优惠活动,方便客户在基础金融服务、旅游出行、购物消费时享受作为工行客户独有的各种实惠。     

行业资讯

工行推出小颇快捷支付服务(本刊讯)为更好地满足客户在网上购物等电r商务活动中的小额支付需求,工行于近日推出了一种全新的在线小额快捷支付服务     

Accounting and the global fight against corruption

This paper draws on a governmentality framing to consider the global fight against corruption and the role of accounting in that fight. Specifically it examines two contrasting modes of thought or ‘mentalities’ in the anticorruption field and the manner in which they shape, envision, and constitute the cultural and technological practice of accounting. The first of these—the orthodox mentality—is evident in the programmatic discourses and academic research of the major anticorruption organizations (esp., the World Bank, United Nations, IMF, OECD, and Transparency International). This mentality has us envision accounting’s involvement in the fight as part of a relatively unproblematic if not noble cause. The second, radical mentality draws on race-, gender-, and class-based commentaries and has us see accounting’s involvement in more ambivalent terms: as a potential enabler but also a potential constrainer of economic accountability and the achievement of the liberal republican dream.     

美国国债——政治的闹剧(英文)

美国国债今年到达了146600亿这个巨大的数目,随着标准普尔对美国国债评级的下调,一场关于美国国债的风暴席卷而来。然而在我看来,这一切只是美国共和党与民主党之间的一场政治斗争。中国作为美国第一大债权国,成为了两党斗争的筹码,损失了利益却改变不了美国对待中国的策略。     

WHEN SHAREHOLDERS CHOOSE NOT TO MAXIMIZE VALUE: THE UNION BANK OF SWITZERLAND'S 1994 PROXY FIGHT

This paper examines the fight over a share reunification plan that pitted Swiss financier Martin Ebner against Union Bank of Switzerland (UBS), once the largest Swiss bank and a global leader in asset management. In the U.S. corporate governance debate, large shareholders are often held up as a possible solution to corporate governance problems. But this examination of the UBS proxy fight shows why some large shareholders can themselves be a source of governance problems. The share reunification plan was designed to combine the firm's two classes of stock: registered (voting) shares and bearer (non-voting) shares. As its motive for the plan, the UBS board cited a desire both to increase liquidity and to prevent a control change. The majority of the holders of the company's registered stock—many of whom had other financial ties to the bank—ended up voting for a proposal that caused them to lose 11% of the value of their shares during the three trading days following its announcement, and eventually almost twice as much. Moreover, even the holders of the bearer stock hurt themselves by approving the reunification plan. Although the plan clearly transferred value from the registered to the bearer shares, the redistribution benefits from the plan for the bearer shareholders were not sufficient to offset their losses from the reduced probability of a control change. Although it did not succeed in accomplishing its immediate goal, the UBS proxy fight is today recognized as a watershed event in Swiss corporate governance. Until recently, Switzerland's economy has been dominated by cartels, with closely overlapping boards of directors. Hostile takeovers were essentially unheard of, and criticism of management by shareholders was highly unusual. Ebner's activities have had the effect of stimulating public debate about shareholders' rights and shareholder activism. In so doing, they have made it more acceptable for shareholders to criticize management and established shareholder value as a “politically correct” goal for Swiss corporations.     

Lofty missions, down-to-earth plans

Most nonprofits make program decisions based on a mission rather than a strategy. They rally under the banner of a particular cause, be it "fight homelessness" or "end hunger." And since their causes are so worthwhile, they support any programs that are related--even tangentially--to their core missions. It's hard to fault people for trying to improve the state of the world, but that approach to making decisions is misguided. Acting without a clear long-term strategy can stretch an agency's core capabilities and push it in unintended directions. The fundamental problem is that many nonprofits don't have a strategy; instead, they have a mission and a portfolio of programs. But they hardly make deliberate decisions about which programs to run, which to drop, and which to turn down for funding. What most nonprofits call "strategy" is really just an intensive exercise in resource allocation and program management. This article outlines for nonprofits a four-step process for developing strategy. The first step is to create a broad, inspiring mission statement. The second step is to translate that core mission into a smaller, quantifiable operational mission. For instance, an agency whose core mission is to fight homelessness must decide if its focus is rural or urban and if it should concentrate on low-income housing loans or on establishing more shelters. The third step is to create a strategy platform; that is, the nonprofit decides how it will achieve its operational mission. Decisions about funding and about client, program, and organizational development are all made here. Once that platform is established, the nonprofit is ready to move to step four--making reasoned, strategic decisions about which programs to run and how to run them. The agency that follows these steps will improve its focus and its effectiveness at fulfilling its mission.     

Sais work against corruption in Scandinavian,South-European and African countries: An institutional analysis

International pressures on Supreme Audit Institutions (SAIs) to fight corruption are increasing. Nevertheless, SAIs lack a clear mandate and may appear ineffective in their anticorruption work. Using an institutional approach, this paper compares the cases of seven SAIs from Scandinavian, South-European and African countries to better understand how these institutions perceive their role in fighting corruption. Our article demonstrates that the way SAIs organize their work cannot simply be explained by the countries' level of corruption. Rather, efforts to fight corruption reflect the ways in which coercive, mimetic and normative pressures interact with institutional logics to guide the SAIs' work. We conclude that the influence of INTOSAI still appears to be limited, and it needs increased institutional recognition if it is to be effective in harmonizing SAIs' work worldwide to fight corruption.     

Accounting control,governance and anti-corruption initiatives in public sector organisations

This special issue focuses on the interactions between accounting, public sector organisations and the socio-economic and political environments in which they operate, with a specific focus on the critical analysis of policy and practice in the fight against corruption. The aim of the special issue is to disseminate knowledge to enable a more sustainable, accountable and less corrupt public sector, regardless of where it is located in the world. It presents the work of a global community of scholars engaged in research projects on policies and strategies related to accountability, transparency, auditing, regulatory disclosure, governance, investor protection and anti-corruption initiatives in public sector organisations. The papers presented here address many different angles of corruption and aspects of the way in which it is reported using a broad range of methodologies, theoretical frameworks and research locations. Collectively, these papers demonstrate that more attention needs be given to investigating the human cost associated with illegal activity that leads to human suffering, inequality, and lifetime costs. They further emphasise that we have much to learn about regulatory disclosure and jurisprudential practice in the fight against fraud and corruption.     

NINA/LILA debtors under the Portuguese Insolvency Act: A hidden problem in plain sight?

No income, no assets (NINA) and low income, low assets (LILA) debtors are a non‐negligible part of the increasingly ‘financialized’ market economy. Falling outside the financial market or accessing it through low quality financial products, NINA/LILA debtors appear to be under prioritized by both legal and judicial regimes and public policies. Focusing on the legal and judicial dimension, and taking as an illustration the Portuguese context, we discuss how preinsolvency and insolvency solutions still remain ill‐adjusted for such cases. In spite the existence of some legal provisions aiming at fostering access to law and courts regardless individuals' financial conditions, they do not perform very well with insolvent debtors lacking a regular income. Addicionally, there are non‐legal barriers that prevent those with less economic means to fight properly for their social and economic rights.     

The role of auditing in the fight against corruption

The purpose of this paper is to analyze how various types of auditing may contribute to fight corruption. While previous literature has primarily addressed auditing's ability to prevent corruption, this paper systematically explores auditing's potential to detect corruption. It argues that financial auditing has excluded corruption from the definition of fraud and instead classified it as ‘non-compliance with laws and regulations’. The main arguments for this exclusion is that corruption leaves no material errors in financial statements and no evidence for the auditor to follow. The paper refutes this, arguing that commercial and political corruption creates misstatements in the financial statements of the corruption giver's organization as well as the corruption receiver's organization. Thus, if auditing is to gain a more prominent role in the fight against corruption, auditing standards must include corruption in the definition of fraud, private and public sector auditors need to cooperate and exchange information, auditing techniques to detect corruption should be employed, and the auditing profession must embrace effective preventive measures such as anti-corruption certifications.     

Cash and Corporate Control

The takeover market is often suggested as appropriate for containing the agency problems of excessive corporate cash holdings. However, recent studies report contradictory evidence. I focus on the takeover‐deterrence effects of corporate liquidity and suggest the proxy contest as an effective alternative control mechanism. I find that proxy fight targets hold 23% more cash than comparable firms, and that the probability of a contest is significantly increasing in excess cash holdings. Proxy fight announcement return also is positively related to excess cash. Following a contest, executive turnover and special cash distributions to shareholders increase, while cash holdings significantly decline.