汇丰银行的发展之道

As a large omnipotent international bank, there are truly some unique points for HSBC in operation strategy and mode. The outstanding character of it however is the operation concepts of “omnidirectional service mode, and of all-the-way“ customers as the priorities to all, The CEO of HSBC, John band concludes the mode of HSBC by “There aren‘t many brand-new strategies for the bank. The mostimportant is the frontline implementing force“.     

Why China Needs To Develop A Bond Market

Most Asian economies long have depended on bank financing,and to a lesser extent, on the equity markets, to fund investments. Except for countries like Singapore,Malaysia and a few other more developed Asian economies, corporate bonds are almost unheard of in the region. But bonds and bond markets are at least as important, if not more so, than stock markets, for the efficient allocation of a nation‘s resources. In major economies,     

金融服务营销的前途

The co--operative sides of a financial service group can make use of each other‘s client group and distribution channel to enlarge selling network through cross--sale, and increase sales amount.The theory thereunder is that the clients of a product of a bank are also the ideal objects of itsother products.     

Risky IPTV Investment

IPTV （Internet Protocol television） is a frequently mentioned word recently, since Shanda changes its main business to IPTV, which isrecognized as a new technology and at- tractive business in the future. Shanda is the most active Chinese online game pioneer, it has produced one trail box, which will be used as the host while traditional TV station as terminal of the IPTV. Shanda hopes that the box＇s development and the family entertainment service operation will boost its revenue and help to recover the investors＇ confidence. It is estimated that Shanda has spend about $450 millions on IPTV in the last year, including production research and sales channel establishment. However, it is reported that the box is of poor quality. Even the internal trial members complained about the box＇s unsatisfactory performance. In addition, the price of the box is about 6,000 RMB each （equivalent US $ 800）, it is too expen-sive to most Chinese consumers.     

Company's General Finance Analysisand Risk

A firm’s Capital structure is the mix of a company＇s longtermdebt, specific short-term debt, common equity and preferredequity. It also aims to balance the tradeoff between thebenefits of debt financing and cost of debt financing. Debtcomes in the form of bond issues or long-term notes payable,while equity is classified as common stock, preferred stock orretained earnings. Short-term debt such as working capital requirementsis also considered to be part of the capital structure,so for target debt ratio, Target Debt Ratio is the target proportionof a firm＇s total assets that are being financed with borrowedfunds, because firms are expected to finance investmentssubsequently from equity and debt. A fundamental problem inempirical studies is that having a target debt ratio or not isunobservable from public data. So firm have a capital structurepolicy, i.e. target debt ratio.     

Delhi ready to relax rules on foreign ownership of media（印度拟对外资开放媒体业）

New Delhi has given its clearest signal yet that it is to liberalise its print media industry by allowing foreign newspapers to publish in India and permitting foreign institutional investors to buy stakes in local media.The recommendations are certain to lift the hopes of foreign investors and media groups keen to tap into one of the world‘s fastest-growing newspaper markets.     

关注国有银行与股份制银行的绩效差异

Seen from kinds of statistical data, state-run bank and shareholding bank differ in greatly in capital efficiency and harmful assets rate, management effect of shareholding bank are higher than four state-run banks, This article analyses originally main factors affecting dfficiency of commercial bank, such as enterprise administration stucture, put foward lots of valuable opinions.     

Inflation,operating cycle,and cash holdings

A corporate cash-holding strategy is a trade-off between the costs and benefits of holding cash.At the macrolevel,firms are inclined to adjust and optimize their cash-holding strategies in response to changes in purchasing power due to inflation.At the microlevel,the operating cycle,which indicates the speed and turnover of corporate cash flow,also influences the corporate cash-holding strategy.Firms flexibly adjust their cash-holding strategies in response to changes in the internal and external environment,which is referred to as the cash adjustment strategy.We examine these predicted relationships using a sample of listed firms in China’s stock market over the 1998–2009 period.Consistent with our predictions,the empirical results indicate a significant negative association between cash holdings and the CPI,but the relationship is reversed when the CPI reaches a certain level.There is also a U-shaped relationship between operating cycle and cash holdings,and this relationship is similarly influenced by changes in the inflation level.In examining the macroeconomic environment and microlevel firm-specific characteristics simultaneously,our findings supplement the literature on firms’cash-holding strategies and provide theoretical and practical implications.     

David·Shirreff:Basel Faulty

The intense scrutiny undergone by the financial sector will reach a hiatus in 2004. Regulators will have learnt that they cannot, by prescribing ever more complex or draconian rules, prevent financial companies from taking disastrous risks, or form exploiting privileged information and diddling their customers.Those two dangers, which have preoccupied bank supervisors since the collapses of Long-Term Capital Management in 1998dan Enron in 2001, are inherent in the financial business and cannot be magicked away. With luck, 2004 will see regulators take a different tack and begin to simplify the complex rules on bank capital, known as Basel 2. It should also see the witch-hunters, such as Eliot Spitzeer, the New York State attorney-general, accept that digging ever deeper into the way financial firms do business will not reach clear blue water-there is none. Financial dealings are nearly always at root unfair for someone.     

Analysis of Pecking Order Theory on Chinese Listed Companies

This study tests the order of firms’ financing choices based on a sample consists of 150 Chinese listed companies. And it indicates that China’s listed companies did not follow the theoretical ‘Pecking Order’ （Myers,1984）, but a ‘new order’— internal fund, equity, and debt — to make their financial choices. This is because firm’s gearing ratio and solvency did not show a high degree of correlation in China’s capital market, which leads to the preference of using equity. Besides, there are some other reasons： low cost of issuing equity, ineffective financial management, immaturity of capital market, not well developed bond market, and lack of an effective credit rating system.     

“两会”劲推金融改革促发展————聚焦中国金融改革大势

Financial reform, for one thing. estabishes and improves financial supervisory structure, for another thing, expedites staet-run financial industry reform and establishes true modern enterprise system, This is clear reflection of the determination new govemment judges the hour and sizes up the situation, works for finance reform, Scientific development view, defeding national finance security, identical policy in a bank, the set of steadily improved, modern finance system whose efficiency is greatly elevated, is sure to be able to supply more and more important support for overall fulfillment of Chinese whole economy goal.     

Dose Executives’ Equity Ratio Affect the EVA Assessment in Central Enterprises?

Since 2010, the State-owned Assets Supervision and Administration Commission of the State Council (hereafter SASAC) started the full implementation of the EVA evaluation system in central enterprises. Our research finds out that the central enterprises have obvious acted to meet the EVA assessment, that is, executives intentionally regulate major EVA adjustments to gain a higher EVA performance. We also find that the factor of shareholding rate of executives may in some extent weaken the effect of the EVA assessment and there shows a U-shaped or inverted U-shaped relation between shareholding rate and each adjustment indicator.     

央企是否迎合了EVA考核?——基于高管持股因素影响的研究(英文)

Since 2010, the State-owned Assets Supervision and Administration Commission of the State Council (hereafter SASAC) started the full implementation of the EVA evaluation system in central enterprises. Our research finds out that the central enterprises have obvious acted to meet the EVA assessment, that is, executives intentionally regulate major EVA adjustments to gain a higher EVA performance. We also find that the factor of shareholding rate of executives may in some extent weaken the effect of the EVA assessment and there shows a U-shaped or inverted U-shaped relation between shareholding rate and each adjustment indicator.     

平衡计分卡与银行战略执行

Balance scoring card, to a company,is a stratagem managerial tool for the Information Times, which can control the flow of the whole organization and modulate the organization‘s reform direction with professional guides. Exercising the managerial concept included in the Balance scoring card fully comprehending the meaning of this strategical tool, considering it as a basic guide to coagulate the consciousness of employees, will greatly improve the executive ability and turn the stratagem into the ability of competitiveness.     

英汉委婉语的比较

It seems that language has an inconceivable and supernatural magic, it can not only help people exchange thoughts and feelings but also arouse people's imagination of all kinds, even though there is no close relationship between words and the things they refer to. However,when some words and terms are used, the images of things they refer to will appear before our eyes vividly. It is certain that it will arouse our reaction psychologically. For example, when some pleasant, wonderful words are uttered, it makes the hearer feel comfortable and happy.Meanwhile when some ugly or terrible words are used, it makes the hearer feel distressed, disturbed and terrified. So, people try their best to avoid using the unpleasant words directly, they use euphemism to re-place the words and phrases that sound no good.     

UGG Australia公司战略分析(英文)

Ugg boots have developed from Australian generic products to global luxury footwear, and UGG Australia has become a worldwide famous brand through the marketing strategy of celebrity seeding. The strengths of UGG Australia are strict quality control, constant innovation and strict material selection. At first, Ugg was only a pair of ugly boots which looked like using sheepskin with wool to wrap feet. This kind of boots was thick and stupid, but quite light and warm. By the end of the 1990s, more and more people wanted to enjoy a more casual lifestyle and Ugg became the symbol of this lifestyle. UGG Australia tries best to provide consumers with not only a pair of comfortable boots, but also a relaxed, casual and luxurious lifestyle (News, 2008). The fashion industry is hypercompetitive and constantly changing. That is to say, UGG Australia should try its best to be different from its rivals to satisfy customers' changing needs or unique preferences. For this reason, differentiation is the optimal generic strategy for UGG Australia's business in the US. Carrying out differentiation strategy means that value is provided to UGG Australia's customers through the unique features and characteristics of Uggs (Roney, 2005). As a result, superior quality, fantastic design and an image of prestige or status are the bases of UGG Australia's uniqueness.。     

Tremendous Business Opportunities attribute to the“11th Five-Year Plan”

Ratified by the People's Congress of Beijing, Beijing Municipal Government has promulgated the " 11th Five-Year Plan". That plan is the most important direction for both social and economic development in Beijing. Tremendous business opportunities arise attribute to the plan thereafter. In specific, the business opportunities are classified in the following 8 sectors:     

The Authority and Charismas of Jack Ma＇s Leadership

Jack Ma is the top manager ofAli Baba group, with a strong leadership. He mixes autocratic leadership and charismatic leadership together. The powers he used are from his position, the reward system of the company and the charismas to gain his leading power. In addition, he uses his charmnas and his achievements to win the mast of the employees, which develop his leadership.     

Vague Language and Its Application in Business English Writing

Nowadays, business letter is one of the most important means of communication. The phrpose of this paper is to study how vague language is exploited in writing business letters, focusing on the application of vague language in Business English writing, and elaborate upon the realization of vagueness.     

英汉委婉语的比较

It seems that language has an inconceivable and supernatural magic, it can not only help people exchange thoughts and teelings but also arouse people＇s imagination of all kinds, even though there is no close relationship between words and the things they refer to. However, when some words and terms are used,