如何解决银行排队问题

银行排队问题近来引起一片哗然,以至于监管部门出面,要求银行切实予以解决.其实,这是一个老问题,特别是一些大银行尤甚,只不过是中国老百姓的忍耐力太强了.而另一方面,银行临柜员工也有一肚子苦水无处可倒,他们面临巨大的工作压力却不被顾客所理解.近日此问题之所以引起关注以至于发酵,与资本市场的火爆有关,那些本来不需要排长队的VIP客户的数量与交易增加,使这些VIP们也要屈尊排长队.这些VIP可不是那么好得罪的,也是银行不愿得罪的.     

建筑企业参与PPP项目的融资问题及解决策略

PPP项目是近年来新兴的一种融资方式,是英文字母Public-Private-Partnership的英文缩写,顾名思义就是政府与私人的合作关系。政府与私人组织之间,通过提供公共物品和服务,给予特许协议而形成的合作关系。两者的合作效力要大于独自的效力。当前,随着城镇化的推进和城市现代化的建设,许多地方政府为了取得融资,大都开展了PPP融资方式,希望借助社会资本,缓解政府建设的压力和债务危机,与此同时,建筑企业都积极的投入到了PPP项目当中。本文就建筑企业参与PPP项目的融资问题展开详细论述,并在此基础上提出了相应的解决对策,希望能提供帮助。     

建筑企业参与PPP项目的融资问题及解决策略

近两年来,中国建筑市场风云变幻,经济发展全面进入新常态,建筑业总产值持续下滑;特别是PPP模式日益被提上新的高度,作为PPP市场参与主体之一的建筑企业遇到前所未有的挑战.在原有的建筑市场中,建筑企业只需负责建筑施工环节,而新的PPP模式下,建筑企业作为社会资本方参与PPP项目,将主导投资项目的规划设计、投融资、施工建设、运营养护或移交等全链条的服务,要求建筑企业具有全链条资源整合能力.     

墨西哥如何解决养老问题

几十年来，墨西哥一直是美国移民人口的最大输出国之一。事实上，美国约4000万外国出生的人口中，近三成来自墨西哥。尽管这部分移民获得了大量关注，但那些回迁墨西哥的移民却并未受到重视。     

如何解决中小企业融资难问题

2008年9月,美国次贷危机引发全球金融危机,原材料涨价、用工成本提高、大量中小企业面临应收账款回收期加长等一系列问题,因资金链断裂导致破产的现象越来越普遍,解决中小企业融资难问题就成为了关键。     

如何解决国有商业银行不良资产问题

党的十六届三中全会通过的《中共中央关于完善社会主义市场经济体制若干问题的决定》明确提出要“深化金融企业改革”，要求商业银行“成为资本充足、内控严密、运营安全、服务和效益良好的现代金融企业”。中国银行作为确定进行股份制试点的银行必须“加快处置不良资产，充足资本金，创造条件上市”。今年年初，为了支持国有商业银行股份制改造，国务院动用450亿美元外汇储备，以中央汇金投资公司的名义向中国银行和中国建设银行注资。     

结算问题如何解决？

支付结算这一传统金融领域的基础设施,在互联网金融领域依然是根基。无论来自传统金融还是来自互联网,对此的答案都是“协作”     

科研单位如何解决资金短缺问题

<正>随着我国经济体制和科研体制改革的不断深入,经济领域和科研领域都发生深刻的变化,科研单位的管理体制也由单纯的预算型管理向科研、生产、经营型转变。由于经营项目的增加、经营范围的扩大、国内有关政策的调整以及单位内部管理等方面的原因,一些科研单位出现了资金短缺的问题,这一     

如何解决中小企业融资难的问题

中小企业是我国经济和社会发展的重要力量。中小企业在稳增长、促就业、扩内需、繁荣市场,满足人民群众的消费需求、增加财政收入等方面发挥着重要的作用。但中小企业在生产经营发展过程中由于自身和各种客观原因遇到了一系列的问题和困难,其中最主要的是融资难,它成为中小企业发展壮大的瓶颈。本文从多角度分析了造成中小企业融资难的原因,并提出了相应的解决措施。     

企业“退市”退出尴尬问题

有市场就有竞争，有竞争就有淘汰，有淘汰就有重新洗牌，就自然会有企业和产品退市，这是不会以人们意志为转移的，也是无法扭转的市场经济规律，那么，在这股即将飘来的“你刚退罢我跟退”的风潮中，对于退市的原因和动机就值得人们认真的剖析了，以利正确处理好退市问题。     

Risk-taking incentives of executive stock options and the asset substitution problem

Various theoretical models show that managerial compensation schemes can reduce the distortionary effects of financial leverage. There is mixed evidence as to whether highly levered firms offer less stock‐based compensation, a common prediction of such models. Both the theoretical and empirical research, however, have overlooked the leverage provided by executive stock options. In principle, adjusting the exercise prices of executive stock options can mitigate the risk incentive effects of financial leverage. We show that the near‐universal practice of setting option exercise prices near the prevailing stock price at the date of grant effectively undoes most of the effects of financial leverage. In a large cross‐sectional sample of Canadian option‐granting firms, we find evidence that executives' incentives to take equity risk are negatively rather than positively related to the leverage of their employers.     

The impact of religious practice on stock returns and volatility

With a psychological and behavioral perspective, this paper examines whether religious practice, through its influence on investors' moods and emotions, affect the behavior of the stock markets and investors in 15 Islamic countries over the period December 31, 2005 to December 31, 2015 and over four sub-periods (before and after both the global financial crisis and the Arab spring). The results indicate that volatility decreases during the month of Ramadan and is significantly different from the volatility observed in the other 11 months of the Islamic calendar year in most Muslim countries. We also identify that changes in stock returns and volatility during the month of Ramadan are related to religious practice and not due to the global financial crisis or the Arab spring. The findings significantly improve the understanding of the role of religious practice on stock market behavior and as such may be of great interest to investors and market regulators.     

Commonality in the time-variation of stock–stock and stock–bond return comovements

We jointly investigate time-varying comovements between stock returns across countries and between long-term government bond and stock returns within countries. Our focus is on how daily return comovements vary with stock uncertainty, as measured by the implied volatility (IV) from equity index options. Cross-country stock return comovements tend to be stronger (weaker) following high (low) IV days and on days with large (small) changes in IV. Stock–bond return comovements tend to be substantially positive (negative) following low (high) IV days and on days with small (large) changes in IV. A regime-switching analysis also indicates a striking temporal commonality in the stock–stock and stock–bond comovement variations. Our findings bear on understanding the influence of time-varying uncertainty on price formation and the diversification benefits of stock–bond and cross-country stock holdings.     

Intraday volatility in the stock index and stock index futures markets

We examine the intraday relationship between returns and returnsvolatility in the stock index and stock index futures markets.Our results indicate a strong intermarket dependence in thevolatility of the case and futures returns. Price innovationsthat originate in either the stock or futures markets can predictthe future volatility in the other market. We show that thisrelationship persists even during periods in which the dependencein the returns themselves appears to weaken. The findings arerobust to controlling for potential market frictions such asasynchronous trading in the stock index. Our results have implicationsfor understanding the pattern of information flows between thetwo markets.     

The ex-dividend day stock price behavior in the Chinese stock market

This paper analyzes the ex-dividend day stock price behavior in the Chinese stock market. This market allows to examine the impact of tax effects while keeping any microstructure factors constant. The findings from non-taxable stocks show that their price, on the ex-dividend day, falls by an amount that is not statistically different from the dividend. For the taxable sample, stock prices of small dividend yield stocks fall proportionally to the dividend paid. For the large dividend yield stocks, the price adjustment depends on the effective tax rate on dividend income. The overall findings are consistent with the tax hypothesis.     

Local persistence and the PPP hypothesis

This paper examines the statistical properties of the bilateral real exchange rates of the U.S. vs. France, Germany, and the U.K. during the Post-Bretton-Woods period, and draws implications on the Purchasing Power Parity (PPP) hypothesis. Contrary to traditional studies that consider only unit root and stationary processes to describe the real exchange rate behavior, this paper considers an in-between process, the locally persistent process. The empirical results demonstrate the following two findings: (1) Locally persistent processes describe the real exchange rate movements better than unit root and stationary processes, which implies that PPP reversion occurs and PPP holds in the long-run. (2) The confidence intervals for half-life deviations from PPP under local persistence tend to be narrower than those obtained by assuming the ADF and the local-to-unity models.     

Overreaction in the Brazilian stock market

The overreaction hypothesis on a new set of data for the Brazilian stock market over the period 1970–1989 is investigated. Both market adjusted returns and the standard Sharpe-Lintner CAPM adjusted returns are used. Price reversals in 2-year returns are detected and the results contrast with the U.S. evidence in that the magnitude of the effect is more pronounced than in the U.S. The results also suggest that differences in risk, as measured by CAPM-betas using the method suggested by Chan (Chan K.C., 1988, On the contrarian investment strategy, Journal of Business 61, 147–163), cannot account for the overreaction effect. I also examine the issue of asymmetry versus symmetry in the overreaction effect. Using the criterion proposed by Dissanaike (Dissanaike G., 1992, Are stock price reversals really symmetric? University of Cambridge Department of Applied Economics Discussion Paper, AF series, No. 4) I find evidence that the price reversals are asymmetric.