哈大齐工业走廊经济增长的区域金融发展研究

本文系统地研究了运用区域金融发展促进哈大齐工业走廊区域经济增长的政策建议,包括健全哈大齐工业走廊区域金融组织体系;完善哈大齐工业走廊资本市场体系;加快哈大齐工业走廊保险市场的发展;推动哈大齐工业走廊区域金融业务创新和加强哈大齐工业走廊区域金融环境建设。     

哈大齐工业走廊金融支持与经济增长

金融是现代经济的血液,根据哈大齐工业走廊地区的金融发展现状,制定适合哈大齐工业走廊地区的金融政策,充分发挥金融的作用,是加快哈大齐工业走廊地区经济发展的重要举措。通过对国内外金融支持促进经济增长的理论总结和对哈大齐工业走廊区域金融支持存在的困难和面临的机遇的考察,提出了支持哈大齐工业走廊区域经济快速、协调发展的有关金融制度与金融创新等方面的政策建议。     

哈尔滨构建区域金融中心的可行性研究

随着黑龙江省提出立足哈大齐工业走廊,着力建设八大经济区、十大工程的发展战略以来,哈尔滨作为黑龙江省省会城市、哈大齐工业走廊龙头、全国老工业基地,将其打造成区域金融中心,进而带动全省经济快速发展已经提上日程。本文从地理位置、经济实力、金融发展等方面分析哈尔滨构建区域金融中心的可行性,进而提出相应的建议。     

哈尔滨构建区域金融中心的可行性研究

随着黑龙江省提出立足哈大齐工业走廊,着力建设八大经济区、十大工程的发展战略以来,哈尔滨作为黑龙江省省会城市、哈大齐工业走廊龙头、全国老工业基地,将其打造成区域金融中心,进而带动全省经济快速发展已经提上日程。本文从地理位置、经济实力、金融发展等方面分析哈尔滨构建区域金融中心的可行性,进而提出相应的建议。     

关于哈大齐工业走廊安达开发区建设情况的调查

开发利用重度盐碱地、废弃地,建设哈大齐工业走廊,是全省实施老工业基地振兴战略的重大决策。哈大齐工业走廊是以哈尔滨为龙头,以大庆和齐齐哈尔为区域骨干,包括沿线肇东、安达等在内的经济区域。安达市作为全省哈大齐工业走廊的重要节点城市,开发区建设对于促进安达市国民经济战略性调整,推动经济协调健康发展,加快工业化进程,实现全面建设小康社会的宏伟目标,具有十分重要的意义。     

调整信贷结构促进安达经济发展

安达市是哈大齐工业走廊的重要组成部分。如何贯彻落实国务院的金融工作部,坚持市委市政府“三大战略”统领地位不动摇,抢抓振兴东北老工业基地、哈大齐工业走廊建设等战略性机遇,把支持项目建设作为推动经济发展的“第一工程”,以科学发展观为指导,合理调整信贷结构,支持有市场、有效益的个业发展,支持哈大齐工业走廊安达开发区和新城区建设,巩固老财源,培植新财源,不断壮大经济实力和财政实力,是摆在市域各金融机构面前的霞要课题．也是金融系统的重要使命。     

金融支持黑龙江省哈大齐存在的问题及对策

自哈大齐工业走廊发展战略开始实施以来,黑龙江省金融机构紧紧抓住这一有利时机,着力调整资金投放重点,优化信贷结构,有效促进信贷资金向工业园区建设、园区企业生产,特别是装备制造、石化、食品、医药、高新技术、现代物流业等高新产业和现代产业转移,金融支持力度不断增强,效果逐渐显现,为哈大齐工业走廊加快建设,     

哈大齐工业走廊建设中的金融支持模式选择

哈大齐工业走廊位于黑龙江省西南部滨洲铁路沿线,是以哈尔滨为龙头,以大庆和齐齐哈尔为区域骨干的经济区域,也是黑龙江省内经济实力最强、工业化水平最高、经济辐射力最大、科技人才优势最明显、可供开发利用土地资源丰富的地区。     

构建以哈大齐工业走廊为核心的对俄经济合作带的思考

构建以哈大齐工业走廊为核心、西起满洲里东至绥芬河的黑龙江-内蒙古东部区域对俄经济合作带，有利于巩固中俄战略协作伙伴关系，有利于完善我国对外开放格局，也有利于振兴东北老工业基地。通过采取健全国家层面合作推进机制、建立地方层面协作保障体系等措施建立的对饿经济合作带，将对深化中俄地区合作、促进东北地区尤其是黑龙江省和内蒙古东部地区提升沿边开放水平发挥重要的作用。     

为中国石油城经济腾飞加油——记前进中的中国人民银行大庆市中心支行

伴随大庆油田的勘探和开发，大庆市的金融业从无到有，迅猛发展，不断壮大。作为中央银行的派出机构，人民银行大庆市中心支行一直以支持大庆经济持续快速健康发展为己任，积极参与地方经济建设。不仅在建设石油石化生产基地过程中发挥了显著作用，而且在当前振兴东北老工业基地和建设“哈大齐工业走廊”等战略的实施中地位也越来越突出，被地方政府誉为石油城经济腾飞的加油站。     

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.     

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.     

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.