“监管新规”实施后我国商业银行面临的风险及对策

2013年1月1日起开始实施的商业银行“监管新规”对资本充足率、前瞻性贷款损失拔备指标、杠杆率指标、流动性监管指标等四大指标设置了更为严格的要求,在强化监管的同时也使得我国商业银行面临资本缺口提高、盈利和存款竞争压力加大等风险。为了应对和规避“监管新规”引发的风险,建议商业银行采取提高资本管理水平、合理利用资产证券化工具、风险管理精细化、以推动创新的视角加强杠杆率管理、重视提高流动性管理水平、积极通过业务转型降低风险加权系数等举措。     

我国会计监管模式研究

会计信息作为一种重要的社会资源,在促进社会资源优化配置、加强企业经营管理和为国家宏观调控服务等方面发挥着重要的作用。然而这种作用发挥得如何则取决于会计信息质量的高低。一个合理的会计监管模式是会计信息质量保证的主要因素。从会计监管主体、客体、标准以及责任等分析中来看,应健全我国会计监管体系,构建合理的会计监管模式,以减少会计信息失真,保证会计市场、资本市场的运作。     

关于财产保险公司最低资本要求法与规之间的一致性问题

我国目前施行以偿付能力为核心的三支柱保险监管模式。偿付能力监管实质就是对资本充足率的监管。由于资本充足率等于保险公司的实际资本与最低资本的比率,所以最低资本的要求将直接影响资本充足率的大小。为了保证保险公司的偿付能力,保护被保险人的利益,各国保险监管法规都对保险公司设定了最低资本要求,我国《保险法》和保监会颁布的《保险公司管理规定》和《保险公司偿付能力管理规定》(保监发[2008]第1号)都对保险公司最低资本要求作出了规定。本文采用比较的方法分析了我国《保险法》和保监会规章对财产保险公司最低资本要求的不同规定,指出了法与规对同一问题规定不一致可能对监管实践产生的种种影响;通过借鉴国际和地区的规定和最新动态,分析了法规不一致的原因,并从立法技术和立法内容两个层面提出了相关建议。     

试论公司治理与会计信息披露

会计信息披露通过缓解管理层与投资者之间的信息不对称,从而达到抑制管理层机会主义行为的目的,因而在公司治理机制中发挥着基础性作用。在此基础上,文章将会计信息披露的均衡理解为满足公司治理所需的会计信息披露质量的均衡。由于存在契约成本、信息成本以及第三方审计失灵等问题,市场不可能自动实现会计信息披露的均衡,政府管制成为保障会计信息披露质量的必要手段。在我国社会主义主市场经济条件下,借鉴国际经验,健全以公司治理为导向的会计信息披露政府管制体系,对于保证会计信息质量、完善公司治理机制、提高资本市场效率都有十分重要的作用。     

The empirics of banking regulation

This paper empirically assesses whether banking regulation is effective at preventing banking crises. We use a monthly index of banking system fragility, which captures almost every source of risk in the banking system, to estimate the effect of regulatory measures (entry restriction, reserve requirement, deposit insurance, and capital adequacy requirement) on banking stability in the context of a Markov-switching model. Our methodology is less prone to selection and simultaneity bias which are common in this type of study. We apply this method to the Indonesian banking system, which has been subject to several regulatory changes over the last couple of decades, and at the same time, has experienced a severe systemic crisis. We draw the following findings from this research: (i) entry restriction reduces crisis duration as well as the probability of such an occurrence; (ii) larger reserve requirements reduce crisis duration, but increase banking instability; (iii) deposit insurance increases banking system stability and reduces crisis duration; (vi) capital adequacy requirement improves stability and reduces the expected duration of banking crises. Finally, we find that previous studies present a negative simultaneity bias for deposit insurance and a negative selection bias for capital adequacy requirement. We can infer from these findings that any relevant assessment of the impact of a regulation, which has been introduced during the recent period of banking instability, should account for simultaneity.     

信誉资本与会计

本文认为,信誉资本是一种关系资本,是政府与市场之外配置社会经济资源的一种力量。文章提出,在目前会计准则制定模式下,政府应考虑让民间组织、社会团体特别是企业界代表参与会计规范的制定,实行财务会计和税务会计分离,建立国家诚信指标体系,并设计公认的会计准则公信度指标系列,接受公众监督;企业应按照法定会计准则披露公正、公允的会计信息,并在企业诚(资)信体系下设计财务信息真实性指数,接受政府和民间独立组织的审计监督;全社会都应该重视信誉资本在会计规范制定和会计制度执行中的作用。     

我国商业银行信贷风险管理相关问题探析

商业银行在经营活动过程中,主要面临着信贷风险、市场风险、利率风险、流动性风险和操作风险等。商业银行资本充足率不足,商业银行信贷风险管理内控制度弱,我国信贷资产证券化水平整体不高,是造成我国商业银行存在信贷风险管理的成因。政府应提高商业银行资本充足率,加强商业银行内部管理,加快商业银行信贷资产证券化发展。     

我国商业银行信贷风险管理相关问题探析

商业银行在经营活动过程中,主要面临着信贷风险、市场风险、利率风险、流动性风险和操作风险等。商业银行资本充足率不足,商业银行信贷风险管理内控制度弱,我国信贷资产证券化水平整体不高,是造成我国商业银行存在信贷风险管理的成因。政府应提高商业银行资本充足率,加强商业银行内部管理,加快商业银行信贷资产证券化发展。     

从财务会计走向知识会计——一个简单的逻辑思考

知识经济时代的知识企业是以知识资本为主导生产要素的,这就给知识企业的管理活动提出了新的课题,会计作为一项重要的经济管理活动同样面临诸多挑战。知识企业管理对象的重心必须转移：从工业经济时代的工业企业以财务资本为核心的管理转移到知识经济时代的知识企业以知识资本为核心的管理上来。知识企业管理重心的转移．必然导致工业经济时代反映财务资本的财务会计转移到知识经济时代反映知识资本的知识会计上来,以适应知识企业管理对象重心转移的需要。     

The impact of capital requirements on banks’ cost of intermediation and performance: The case of Egypt

In 1991, the Central Bank of Egypt increased the minimum capital requirements for the banking industry vis-à-vis risk-weighted assets to 8%, along the lines proposed by the Basel Committee on Banking Supervision. In this paper, we investigate the effects of capital regulations on cost of intermediation and profitability. Higher capital adequacy increases the interest of shareholders in managing banks’ portfolios. The result is a higher cost of intermediation and profitability. A number of factors have increased the cost of intermediation in the post-capital regulation period: higher capital-to-assets ratios, an increase in management efficiency, an improvement of liquidity and a reduction in inflation. The reduction in output growth countered these effects. A number of factors contributed positively to banks’ profitability in the post-regulation period: higher capital requirements, the reduction in implicit cost, and the increase in management efficiency. The reduction in economic activity had opposite effects on banks’ profitability. Overall, the results support the Central Bank's efforts to enforce capital regulations to improve the performance of the banking sector in Egypt.     

Exploring the link between internationalization of top management and accounting quality: The CFO’s international experience matters

This study examines whether and how top management internationalization is associated with accounting quality. We combine upper echelons perspectives, agency theory, human capital theory and accounting research, and demonstrate that top management internationalization mitigates the level of managerial discretion in financial reporting. By decomposing the top management team, our analysis reveals that higher levels of accounting quality are associated with the internationalization of the CFO, not the internationalization of the CEO. In particular, we find that CFO’s international education and international work experience are important factors in higher accounting quality.     

次级金融债券:我国商业银行补充资本金的新渠道

深化金融企业改革是金融体制改革的一个重要内容 ,加强银行业资本充足性监管是金融机构改革的迫切要求。我国商业银行普遍面临资本金短缺问题 ,必须要寻找新的补充商业银行资本金的渠道。尽管最近国家通过外汇储备补充商业银行的资本金 ,但这并不是商业银行获得资本金的长久有效的渠道。而发行次级金融债券才是商业银行目前解决资本金不足的一个最可行的方式 ,并且实施的时机已经成熟     

Nexus Between Cultural Dissonance,Management Accounting Systems,and Managerial Effectiveness: Evidence from an Asian Developing Country

This article examines the links between corporate cultural dissonance, the management accounting system (MAS) information adequacy gap, and managerial effectiveness of the financial sector in Bangladesh. Data were collected from a random sample of 146 bank managers and were analyzed using correlation matrices. The findings suggest that the level of managerial effectiveness can be improved by decentralizing the management accounting practices through maintaining minimal authoritative power distance, improving the system for gathering and sharing information, and enhancing transparency in information flow. These findings, which have important implications for the effective performance management of banks, are highlighted in the article.     

事业单位国有资产管理的制度设计、治理机制及其他

对事业单位国有资产管理进行改革已越来越迫切.作为规范性的事业单位的主体社会公益型组织,评价其资产管理工作的好坏不是以它们所创造的货币收益多少为指标,而必须研究设计出一整套多元的科学指标体系;应在医院、学校等事业单位建立理事会或董事会治理结构;重建成本核算的财务会计制度.     

中国货币政策对银行风险承担行为的影响研究——基于异质性视角

国际金融危机的爆发引发了理论界对货币政策是否影响银行体系稳定更为广泛的关注。文章基于异质性视角构建动态面板数据模型对货币政策与银行风险承担行为之间的关系进行估计,研究结果表明：2003-2011年,货币政策变量对银行风险偏好的影响具有时滞性,贷款利率提高有助于抑制银行风险,货币供应量增加会刺激银行更加冒险;不同银行对货币政策冲击会做出异质反应,随着资本充足率的提高,货币政策对银行风险承担行为的影响效果减弱。因此,加强中国人民银行在宏观审慎监管中的主导作用、建立逆周期的货币政策和资本监管协调机制是后金融危机时代我国监管当局的重要议题。     

我国商业银行应对资本监管的经营管理策略

银行监管的核心问题是资本监管问题。本文依据巴塞尔协议构建的全球银行监管框架,分析了我国商业银行资本监管日趋严格的现状和国外商业银行针对资本监管采用的经营管理策略。在深入剖析资本监管对我国商业银行经营管理影响的基础上,提出了我国商业银行应采取资本筹集、资产证券化和改变经营管理模式等3个策略来应对新的资本监管标准。     

Efficiency and capital adequacy in Taiwan banking: BCC and super-DEA estimation

In this study the researchers adopt two DEA methods – Banker-Charnes-Cooper and Super Efficiency – to investigate whether a bank's technical efficiency is significantly different when capital adequacy (risk) is specified compared with when capital adequacy (risk) is not specified. The information is obtained from 46 Taiwanese banks for the period 2000 to 2002. The Malmquist total factor productivity (TFP) index is employed to measure the impact of productivity change on the panel data. The empirical results from the DEA approach are summarized as follows: (1) Capital adequacy is proven to be an influential factor in evaluating the efficiency of banks. (2) The average efficiency scores of banks with high capital adequacy (>8%) are significantly higher than those of banks with lower capital adequacy (<8%). (3) The efficiency scores of banks with high risk capital requirement (above the average) are higher than those of banks with lower risk capital requirement (under the average). (4) Banks with both high capital adequacy and high risk capital requirement are superior in performance than all the other banks, while banks with both low capital adequacy and low-risk capital requirement performance are the worst by contrast. (5) Based on the Malmquist total TFP index, we find that bank productivity has not increased.     

盈余管理问题的研究

随着资本市场的发展,盈余管理问题受到越来越多的关注。从研究来看,许多学者对盈余管理有自己的定义,在这些学者的定义当中,盈余管理被概括为企业管理当局为满足自身利益,有意采取会计或非会计的方式对企业收益进行调整。通过对盈余管理存在的动机及客观的前提条件的分析,从某种程度上来讲,盈余管理不论对于企业还是整个市场都有一定的必要。对于企业来讲,提高当前盈余水平或是透过洗大澡的方式可以短暂的缓解企业面临的困难,利润平滑化则可以帮助企业维持良好社会形象,使企业运营进入良性循环。     

Existence,uniqueness, and stability of optimal payoffs of eligible assets

In a capital adequacy framework, risk measures are used to determine the minimal amount of capital that a financial institution has to raise and invest in a portfolio of prespecified eligible assets in order to pass a given capital adequacy test. From a capital efficiency perspective, it is important to be able to do so at the lowest possible cost and to identify the corresponding portfolios, or, equivalently, their payoffs. We study the existence and uniqueness of such optimal payoffs as well as their behavior under a perturbation or an approximation of the underlying capital position. This behavior is naturally linked to the continuity properties of the set‐valued map that associates to each capital position the corresponding set of optimal eligible payoffs. Upper continuity can be ensured under fairly natural assumptions. Lower continuity is typically less easy to establish. While it is always satisfied in a polyhedral setting, it generally fails otherwise, even when the reference risk measure is convex. However, lower continuity can often be established for eligible payoffs that are close to being optimal. Besides capital adequacy, our results have a variety of natural applications to pricing, hedging, and capital allocation problems.     

论私营企业财务管理的特点、弊端及对策

我国私营企业在财务管理上存在着管理目标单一、资金来源多样、资金积累相对集中、受投资者操纵、两极分化严重、人员素质低下等弊端,不利于私营企业的健康发展。若改变这种状况,必须淡化企业的家族色彩,合理配置财权,健全财务制度,严格遵循财务管理的基本原则,形成合理的资本结构,提高资金的运用效率。