贸易商如何参与共同海损债务的分摊

共同海损的问题是海商法中所规范的内容之一,而且是海商法中最为复杂的问题.载货船舶一旦发生共同海损必将涉及与此相关的许多问题,其中就包括了与船舶所运载的货物的相关问题.例如,货物被抛弃的牺牲应参与共同海损分摊,还是应要求承运人赔偿?哪些货物的牺牲应参与分摊,哪些则不能?若应参与分摊,则如何计算其分摊价值?等等.国际贸易中所买卖的货物大多采用海上运输,一旦发生共同海损,作为货物的损失者或受益者,货物所有人(买方或卖方)如何行使其权利和履行其义务,对贸易商来说具有重要的现实意义.对此,贸易商应有所了解和认识.笔者结合海运实务,仅就有关共同海损债务中的货物分摊问题予以分析研究.     

论共同海损与过失的关系

共同海损制度是海商法上的特有制度,它通过在船货双方间合理分担共同海损损失的方法以达到减少海上风险保证海运业发展的目的。共同海损的成立虽与过失无关,但是在共同海损的分摊中,仅对因船方可免责的过失的共同海损可分摊,其它过失造成的共同海损均得不到分摊。     

取消共同海损制度可行性之探讨

共同海损制度经过数千年的发展,在发展成熟的同时,其自身的一些弊端逐渐显现出来,因此受到了巨大的挑战。本文主要从共同海损制度的历史发展情况入手,将其放在特定的时空背景下,研究其当前的不足之处,并主张取消共同海损制度,引入保险制度作为替代措施,用以避免共同海损理论和实际操作中带来的诸多不便。     

完善共同海损制度的思考

共同海损制度早在19世纪就已经产生,并且一直对航运事业起着重要的作用。随着航运技术不断的发展,共同海损制度也不断完善和改进,但是由于共同海损制度的复杂性和法律的滞后性,因此完善我国共同海损制度的任务任重而道远。该文从介绍国内外共同海损的立法现状,分析出该制度存在的不足,并提出相应的建议措施予以完善。     

对公用建筑面积分摊问题的再思考

房产建筑面积的测量是房地产产权产籍管理中一项非常重要的前期工作,也直接关系到房产产权人的切身利益。文章主要论述了房产公用建筑面积的分摊,在指出目前分摊方法不科学的基础上,通过分析物业的层次结构,进而提出了一套相对科学的、规范的公用建筑面积分摊的计算模型。     

A商业银行成本分摊方案设计

利率市场化下,银行盈利水平受到较大冲击,加强成本精细化管理、约束费用开支是商业银行应对利率市场化的重要举措之一,而成本分摊是提升费用管理、绩效考核以及定价管理水平的基础工具。A商业银行成本分摊设计通过建立并完善商业银行成本分摊机制,建立科学、合理的盈利性分析体系,提高银行的盈利水平并最终实现银行持续稳定经营。     

商业银行风险绩效考核体系中成本分摊问题探讨

在研究商业银行风险绩效考核体系中的成本分摊问题时,要抓住成本分摊思想的选择、成本中心的界定和分摊方法的选择三个关键点,并比较分析不同战略思考下的成本分摊模式,科学分摊成本,使银行在盈利性分析方面有显著提升。     

“拼族”消费“拼盘”迷人眼

不少人习惯将某些具有共同或相似生活方式的人群称为族。由于特殊的文化底蕴和生活气息,上海先后产生了布跛族、新贫族、月光族乃至啃老族等一些特殊的带有标签化色彩的群体。而时下,以族类生活自居的人又为那些以拼作为生活和消费方式的人,起了一个非常直观的名字--拼族。     

谁能分享这份“饕餮大餐”？

9月，应该是一个收获的季节。在9月25日到27日举行的2007年中国（上海）国际采购大会上，许多国家的企业无不因为分享到了一块“蛋糕”而眉开眼笑。然而，中国企业分享到的份额却少得可怜，远远落后于印度等发展中国家……     

PROFIT SHARING IN HEDGE FUNDS

In a new scheme for hedge fund managerial compensation known as the first‐loss scheme, a fund manager uses her investment in the fund to cover any fund losses first; by contrast, in the traditional scheme currently used in most US funds, the manager does not cover investors' losses in the fund. We propose a framework based on cumulative prospect theory to compute and compare the trading strategies, fund risk, and managers' and investors' utilities in these two schemes analytically. The model is calibrated to the historical attrition rates of US hedge funds. We find that with reasonable parameter values, both fund managers' and investors' utilities can be improved and fund risk can be reduced simultaneously by replacing the traditional scheme (with 10% internal capital and 20% performance fee) with a first‐loss scheme (with 10% first‐loss capital and 30% performance fee). When the performance fee in the first‐loss scheme is 40% (a current market practice), however, such substitution renders investors worse off.     

ARAB-ISRAELI POTENTIAL TRADE: THE ROLE OF INPUT SHARING

In this article we sought to develop a methodology for estimating the level and composition of potential trade between Israel and its Arab neighbors. The need for such a methodology derives from the fact that the existing trade of these countries with the rest of the world constitutes an insufficient basis for predicting bilateral trade patterns between them. Trade based on input sharing can be an important source of ''new trade'' that is, trade that is not necessarily related to goods and services currently traded by the countries in question. New trade based on input sharing pertains to the imports by Arab countries of inputs in which Israel has a proven comparative advantage, and to imports by Israel of inputs produced in Arab countries in which the latter have a proven comparative advantage. It stands to reason that branches characterized by comparative advantage in the exporting country can improve the competitive position of the import ing country, when incorporated in the latter's final products. The analysis confirms that in agricultural produce, food products, and certain sub-branches of the textiles and clothing industry, Jordan, Syria, and Egypt all appear to be potential suppliers to Israel. Inter alia, the results show that the Israeli import potential of inputs from Jordan appears to be both larger and more evenly distributed among the different branches than the import potential from Syria and even from Egypt. This finding does not accord with expectations in view of the fact that Jordan has a smaller population and a lower gross domestic product than either Egypt or Syria. Jordan stands out in that its construction industry, including ceramic products, nonmetallic minerals, and structural metals, are also potential suppliers. The methodology developed in this article specifically concerns potential trade between Israel and its Arab neighbors. It can be usefully employed in other situations where trade between pairs of countries is either nonexistent or severely distorted by political or other factors. Examples which come to mind include trade between countries which in the past belonged to the Soviet bloc, or trade between these countries and the rest of the world. In such cases it is improper to base one's trade predictions on the countries' existing trading patterns. New trade, which can be very substantial, and which may have a very different composition from current trade of the parties concerned, must be added to the equation. The methodology demonstrated in this article can be easily adapted for this purpose.     

OPTIMAL RISK SHARING FOR LAW INVARIANT MONETARY UTILITY FUNCTIONS

We consider the problem of optimal risk sharing of some given total risk between two economic agents characterized by law-invariant monetary utility functions or equivalently, law-invariant risk measures. We first prove existence of an optimal risk sharing allocation which is in addition increasing in terms of the total risk. We next provide an explicit characterization in the case where both agents' utility functions are comonotone. The general form of the optimal contracts turns out to be given by a sum of options (stop-loss contracts, in the language of insurance) on the total risk. In order to show the robustness of this type of contracts to more general utility functions, we introduce a new notion of strict risk aversion conditionally on lower tail events, which is typically satisfied by the semi-deviation and the entropic risk measures. Then, in the context of an AV@R-agent facing an agent with strict monotone preferences and exhibiting strict risk aversion conditional on lower tail events, we prove that optimal contracts again are European options on the total risk.     

SUPPLY CHAIN INFORMATION SHARING IN A VENDOR MANAGED INVENTORY PARTNERSHIP

Vendor Managed Inventory (VMI) involves the vendor making the replenishment decision for products supplied to a customer based on various inventory and supply chain policies. Information sharing between supply chain members is required in VMI. Sometimes VMI decisions are delayed and/or the information shared is inaccurate. This research examines the effects of information delay and accuracy, and the sharing of sales and forecast information in a VMI environment facing stationary and nonstationary demand. The simulation experiments show the impact of information delay, information inaccuracy, and information sharing on a variety of performance measures, including inventory levels and fill rates.     

BAYESIAN ANALYSIS OF AGGREGATE LOSS MODELS

This paper describes a Bayesian approach to make inference for aggregate loss models in the insurance framework. A semiparametric model based on Coxian distributions is proposed for the approximation of both the interarrival time between claims and the claim size distributions. A Bayesian density estimation approach for the Coxian distribution is implemented using reversible jump Markov Chain Monte Carlo (MCMC) methods. The family of Coxian distributions is a very flexible mixture model that can capture the special features frequently observed in insurance claims. Furthermore, given the proposed Coxian approximation, it is possible to obtain closed expressions of the Laplace transforms of the total claim count and the total claim amount random variables. These properties allow us to obtain Bayesian estimations of the distributions of the number of claims and the total claim amount in a future time period, their main characteristics and credible intervals. The possibility of applying deductibles and maximum limits is also analyzed. The methodology is illustrated with a real data set provided by the insurance department of an international commercial company.     

LARGE PORTFOLIO ASYMPTOTICS FOR LOSS FROM DEFAULT

We prove a law of large numbers for the loss from default and use it for approximating the distribution of the loss from default in large, potentially heterogeneous portfolios. The density of the limiting measure is shown to solve a nonlinear stochastic partial differential equation, and certain moments of the limiting measure are shown to satisfy an infinite system of stochastic differential equations. The solution to this system leads to the distribution of the limiting portfolio loss, which we propose as an approximation to the loss distribution for a large portfolio. Numerical tests illustrate the accuracy of the approximation, and highlight its computational advantages over a direct Monte Carlo simulation of the original stochastic system.     

舟山是个“海”

本刊从这期开始连续推出“财富长三角”，逐一向读者介绍富庶的长三角地区，亦即以上海为中心的第六城市群的16个城市。 所谓城市群，法国地理学家戈特曼的解释是，人口规模在2500万以上，人口密度超过每平方公里250人的特大型城市。先前，我们这个世界，已经存在五大城市群，它们是：美国东北部大西洋沿岸城市群，该城市群从波士顿到华盛顿，以波士顿、纽约、费城、华盛顿等为核心，涵盖40个10万人以上的中小城市；北美五大湖城市群，该城市群分布于五大湖沿岸，从芝加哥向东到底特律、克利夫兰、匹兹堡，一直延伸到加拿大多伦多和蒙特利尔；日本太平洋沿岸城市群，从千叶向西，经东京、横滨、名古屋，到京都、大孤、神户；欧洲西北部城市群，由大巴黎地区城市群、莱菌-鲁尔城市群、荷兰-乡里的城市构成；以伦敦为中心的城市群，由伦敦-利物浦一线城市构成，包括曼彻斯特、伯明翰、谢菲尔德等大城市，以及众多小城镇。 按照戈特曼所下定义，以上海为中心的长江三角洲城市群由苏州、夫锡、常州、扬州、泰州、南京、南通、镇江、杭州、嘉兴、湖州、宁波、绍兴、台州、舟山等16个城市构成，面积10万平方公里，人口超过7240万，属世界第六城市群。 有关城市群的不定期义，学术界有不同看法，但作为一个区域性板块，近年来中国长三角地区的崛起，引人瞩目。特别是由于长三角交通一体化、港口一体化战略的实施，构筑“三小时都市圈”已不再是遥不可及的梦想。 本刊“财富长三角”栏目的推出，正是鉴于这样的认识：既为世界第六城市群，也就理应将这个城市群推向世界，让世界更多地了解它的现状、走向和发展脉络。需要一说的是，本刊前些时候的“聚焦长三角”对此已作了一些努力。“财富长三角”的推出，只是“聚焦长三角”的延续，当然，在栏目的内涵和外延上，“财富长三角”除了对“聚焦长三角”作了一些推波助澜的修正和整合，尤其注重深入挖掘长三角地区蕴藏的“财富”，包括长三角地区悠久的人脉、文脉、商脉和富有色彩的历史传承。希望读者喜欢。[编者按]