中美金融脆弱性对比分析

论文通过主成分分析,建立美国和中国1994年-2010年金融脆弱性指数,通过对比美国和中国金融脆弱性指数发现,金融脆弱性与经济增长相伴相生,近年来,中国金融脆弱性变动明显,但并未发生金融危机.在金融开放条件下,如何处理经济发展和金融脆弱性成为亟须解决的问题.     

A Comparative Analysis of Earnings Forecasts in Europe

This study examines the accuracy and bias of financial analysts' EPS forecasts in nine European countries during 1987 to 1995. There are significant differences between the countries which may be due to the differences in earnings behaviour, accounting practices, and the influence of securities markets. An optimistic bias is endemic in European forecasts, consistent with research from the US. Investors who incorporate earnings forecasts in their stock selection procedures may be able to improve returns by explicitly adjusting their models for observed regularities in earnings forecast errors. However, we have shown that these regularities differ in incidence and magnitude across the countries studied, and further research is needed to effectively model these differences.     

税务公开的国际借鉴与建议

随着政务公开的进一步深化,我国在税务公开方面已取得了一些经验.但是由于主客观等多方面因素的影响,税务公开仍然存在一些不足.本文通过对瑞典、美国、韩国政务公开实施情况的分析,并结合我国现实,提出了完善我国税务公开的具体建议.     

Regulatory Capital of Financial Institutions: A Comparative Analysis

This study analyzes regulatory capital requirements of banks, thrifts and securities firms. Regulatory capital has traditionally guarded against credit risk and has been set on an asset‐by‐asset basis. Regulators now recognize the need to guard against a wider range of risks and to measure risk in a portfolio context rather than on an asset‐by‐asset basis. However, the measurement of portfolio risk in the presence of a wide variety of financial instruments and the complexity of financial institutions requires a level of sophistication that regulators are unlikely to possess. Consequently, it is important to reassess the purpose of regulatory captial. Regulatory capital now guards against the failure of the entire financial institution, while regulatory responsibility extends only to the insurance fund that guarantees bank deposits or brokerage accounts. Narrowing the regulatory focus to protect only insured accounts would reduce the need to consider all the activities of a financial instituion as is now necessary in order to establish regulatory capital.     

Credit Granting: A Comparative Analysis of Classification Procedures

Financial classification issues, and particularly the financial distress problem, continue to be subject to vigorous investigation. The corporate credit granting process has not received as much attention in the literature. This paper examines the relative effectiveness of parametric, nonparametric and judgemental classification procedures on a sample of corporate credit data. The judgemental model is based on the Analytic Hierarchy Process. Evidence indicates that (nonparametric) recursive partitioning methods provide greater information than simultaneous partitioning procedures. The judgemental model is found to perform as well as statistical models. A complementary relationship is proposed between the statistical and the judgemental models as an effective paradigm for granting credit.     

股东投票制度的比较分析与借鉴

在我国目前上市公司“一股独大”的股权结构下，“一股一票制”使股东大会、董事会及监事会处于大股东操纵的问题更加严重，而“累积投票制”有助于实现抑制大股东全面操纵董事会及监事会，维护中小股东利益，矫正直接选举制的弊端。     

澳大利亚纳税服务经验及对我国的启示

本文介绍了澳大利亚税务局纳税服务的基本情况,从纳税服务理念、纳税服务措施和税务代理纳税服务等几个方面阐述了澳大利亚纳税服务的经验,并对优化我国纳税服务提出了建议。     

湘粤外商直接投资比较分析及对策研究--一个地理集中模型

改革开放以来,湖南引进外资进展缓慢,而与湖南毗邻的广东却吸引了大量外商直接投资(FDI).运用地理集中模型分析发现这是由于湘粤地区制造业集中在广东、厂商生产中的固定成本显著增加、工业化水平不断提高、运输成本不断下降造成的.积极推进外商并购投资,加快湖南大中型国有企业资产重组将改变这种状况.     

全球股票指数权重比较分析

优越的权重指标是构造成功的全球股票指数的基础,除了市值、GDP可用作权重外,本文提出出口额、进出口额、商品服务贸易额也可作为权重,并对该5种权重进行了比较分析,结论是:由于各国股票市场发展差异较大,市值权重太偏重发达国家;GDP适合作权重,但美国的权重太大,全球股指易受其左右,另汇率波动对权重的影响也不可忽视;出口额、进出口额与股市相关性强,汇率波动影响很小,权重结构比较理想,而进出口额尤佳。     

跨期环境下的巨灾风险分担：一个比较分析

资本市场通过衍生品交易增强的管理风险能力,大大改善了其跨期风险分担功能。作为风险中介的再保险公司通过储备流动性的方式,在跨期风险分担方面具有比较优势,而传统的资本市场缺乏衍生品交易,更多地体现为跨地风险分担的功能。在资本市场的竞争压力下,直保公司和再保险公司都面临融资和风险转移问题,如果通过新的资本市场工具,将资产负债表上的成熟产品通过证券化的形式转移到资本市场上,那么资本市场将是有效率的。     

时间性差异与暂时性差异的比较分析

<企业会计准则第××号--所得税(征求意见稿)>(以下简称"新准则")从<国际会计准则>中引入了"暂时性差异"的概念,并要求"按照暂时性差异确认递延所得税资产或递延所得税负债".为更好地理解和运用"暂时性差异",笔者拟对时间性差异和暂时性差异作一比较分析.     

股东类别结构及投资者行为比较分析

以开户注册账户性质为基准对股东进行划分有不妥之处,以持股份额的多少对股东类别进行划分具有科学性,并在此划分基础上对中外个人投资者及机构投资者的状况及投资特点进行分析阐述。     

激励理论在高校与企业中的比较分析

目前我国高校越来越重视对教师的长效激励。高校长效激励在理论上还是崭新的,但长效激励及其理论与实践在企业中备受重视,相关研究已经很深入了。所以企业的长效激励实践与理论对于高校而言有着积极的借鉴意义。本文基于心理诱导逻辑的管理学激励理论和利益关联逻辑的经济学激励理论,对高校和企业的激励进行比较研究,并对高校和企业长效激励机制适用对象进行了比较分析,研究发现,高校不适合使用股权激励机制。     

A Comparative Analysis of Takeovers of Single and Dual Class Firms

This paper analyzes takeovers of dual class companies listed on the Toronto Stock Exchange over the period 1976 to 1989. It finds support for the hypothesis that despite the evidence that restricted shares sell at a discount compared to superior voting shares, takeover returns are the same for both classes of shares. Secondly, it tests the hypothesis that the classification of common equity into two classes confers differential takeover value on controlling shareholders and find that superior voting shares of dual class firms experience higher returns during takeovers than do shares of single class firms.     

A Comparative Analysis of the Investment Characteristics of Alternative Gold Assets

Employing daily data over the period 1987–2010, we examine the diversifying, hedging and safe haven properties of gold bullion, gold stocks, gold mutual funds, and gold exchange traded funds (ETFs). First, with regard to gold bullion, we document a clear and strong hedging role over a mere diversifying capability. Second, our results highlight that gold stocks, gold mutual funds, and gold ETFs tend to be diversifiers. Third, both gold bullion and gold ETFs show support for the safe haven property. However, gold stocks and gold mutual funds display very little evidence of the safe haven characteristic. Consequently, investors who are keen on securing the safe haven features of gold investment cannot generally rely on gold stocks or mutual funds. Instead, they need to take positions directly in bullion or gold ETFs.     

从中央银行资产负债表看宏观调控——中、美、英、日中央银行资产负债表比较

本文通过对人民银行与美联储、英格兰银行以及日本银行资产负债表规模与结构对比分析,发现我国与美英日三国中央银行资产负债表存在较大差异。总的来看,人民银行资产负债表说明了人民银行在促进经济又好又快发展、促进金融发展和维护金融稳定中发挥了积极有效的作用。“十二五”规划中,提高货币政策宏观调控的有效性成为金融发展的重要内容,而优化人民银行资产负债表结构是提高货币政策主动性和有效性的重要手段。     

关于金融服务业的一个比较分析

从服务经济学角度阐述金融服务的相关理论，并从理论和实践两方面分析金融服务的内涵、金融服务业的范围以及金融服务产出的计量；从增加值和吸收就业两方面考察主要发达国家金融服务业近十年来的发展历程，指出金融服务业的发展规律，为我国金融服务业的发展提供判断标准和参照；考察改革开放以来中国金融服务业的发展过程，从规模、结构、效率以及竞争力等几个方面对金融服务业的现状进行描述和分析，同时提出相关的政策建议。     

银行理财渠道建设比较分析 ——基于数字化视角

近年来,随着互联网应用的普及,加之新冠肺炎疫情的影响,线上理财模式被越来越多的用户所接受,大众零售客户对互联网渠道的依赖愈发明显.《商业银行理财子公司管理办法》等监管文件调整了理财产品的起购门槛,取消了首次面签的限制,为理财产品互联网销售预留了政策空间.