职业经理人该代表谁的利益?

职业经理人该代表谁的利益？人们心中似乎都有一个毋庸置疑的共同答案——职业经理人的聘任者。在现代公司治理结构中．董事会一般由大股东控制,所以职业经理人实际上是大股东聘请的．作为大股东利益的代言人,职业经理人担任总裁、首席执行官（CEO）等类似职务．有的也能进入公司的董事会。职业经理人作为大股东利益的代理人,他的行为操守应以不损害大股东利益为依归．     

基于社会关系的国有与民营企业职业经理人经济行为比较及启示

职业经理人的成长,必然受到社会关系的影响和制约,要发展和壮大职业经理人队伍,关键在于改善其社会关系环境.本文从委托-代理关系、经理人市场、激励约束和信任四个方面对国有企业和民营企业职业经理人的社会关系及其经济行为进行了对比,并给出了相应的管理启示.     

制约职业经理人成长的瓶颈

职业经理人一定是视自己的职业声誉为资本的人，成功的职业经理人一定是有很好职业声誉的人。监督和塑造职业经理人的声誉，需要建立健全社会的个人信誉机制，完善经理人的业绩考评制度，更需要创造适合经理人成长的环境。这是一项需要政府，企业，社会以及经理人自身共同努力的系统工程。     

职业经理人薪酬激励实证研究

根据深圳证券交易所2004年上市公司的职业经理人薪酬数据进行实证研究,分析了职业经理人平均薪酬和董事薪酬、公司绩效、公司规模、国有股占总股本的比例之间的关系,并对职业经理人的持股状况进行了总结.     

基于因子统计法的保险职业经理人胜任力模型构建

在前人研究的基础上,从分析保险职业经理人的现状入手,通过关键词频法筛选出保险职业经理人特征要素,初步建立了一个由33项要素组成的保险职业经理人胜任力模型,将得出的胜任力要素编制问卷并用因子分析法进行了初步验证,最终构建了包含30项要素的保险职业经理人胜任力的五大因素模型,即业务技能、专业知识、个人特质、领导特质和职业素养.     

职业经理人眼中的财务总监

你是否是一个称职的财务总监?职业经理人的评价是至关重要的.如何成为一个成功的财务总监,这需要了解职业经理人的要求、想法.本文作者经过精心调查一些公司的职业经理人,经财务总监的工作、发展、成功提供了一个努力的方向.     

从优秀到卓越的飞跃——评《银行职业经理人必读》丛书

1841年，美国的两列客车相撞事件，呼唤出世界上第一位经理人；1999年，广东华帝的“七雄让贤”故事，造就了中国第一位职业经理人。2004年国家劳动部正式推出国家职业经理人资格认证培训，对获得认证的经理人颁发国家职业经理人资格证书，从而为我国职业经理人的发展开辟了一条通道，推动了我国职业经理人队伍的迅速扩充。职业经理人，就是以经营管理企业为职业，将所经营企业的成功视为自己人生的成功，通过管理企业来实现自身价值的专职管理者。北京大学光华管理学院副院长张维迎教授曾说过这样一句话：“未来的中国企业能否发展壮大，在很大程度上取决于职业经理人队伍的建设。”     

职业经理人应具备的素质

用公司制改造中国企业，最迫切的任务是要造就一职业经理人。并不是什么人都可以成为职业经理人，职业经理人应具备的素质包括创新精神、冒险精神、洞察力、宽容精神、道德素质及健康心态。     

寻找职业经理人精神

从上世纪90年代中期真正起步的中国职业经理人制度,发展至今已经出现了一大批优秀的职业经理人。这其中包含了企业中各个职位的高管,如招商银行行行马蔚华、万科地产总裁郁亮、3M中国区首席财务官兼首席运营官胡奋,都是成功职业经理人的代表。他们引领所在企业走向巅峰,个人的事业也达到令人倾慕的高度。在这个过程中有关职业经理人制度和素质的建设也在不断完善,不过也有一些不和谐的声音在给中国的职业经     

我国私营企业引入职业经理人的困难及对策研究

中国自加入世贸组织后,私营企业一直面临的最大的挑战是人才的短缺,职业经理人聘用的窘迫现象也随之凸显出来。私营企业要获得更大的发展,客观上需要建立一个规范化的职业经理人市场,但现实中真正聘用职业经理人的私营企业为数并不多。为什么会产生这样的现状,使得研究私营企业中职业经理人面临的困境成为必需。本文即对私营企业中的职业经理人现状及其产生的原因进行分析,并提出相应对策,希望能促进中国私营企业的职业化进程。     

Almanac of anticipations: The age of affluence—of anticipation—of anxiety—of automation—of discontinuity—of longing—of overkill—of space exploration

With this survey of developments in the futures field since 1945, I.F. Clarke completes his present series for Futures. He makes two major points: that forecasting techniques have become essential tools in the management of change; and that nuclear weapons and ecological problems have added a moral dimension to the study of the future. In the next issue of Futures he will start a new series on the range of future-thinking in the USA, from the expectations of the first settlers to the Star Wars programme.     

基金公司经营融资融券业务的问题审视

融资融券业务正式运营已经开展,为证券市场带来了革命性的改革,作为证券市场的一大主体,基金公司面对融资融券也迎来了新的发展方向和挑战,本文从融资融券业务的运行机制入手,分析了基金公司融资融券的新契机,并对其即将面临的问题进行审视和剖析,进而提出策略建议.     

对基层人民银行科技工作的几点建议

银监会分设后,人民银行将专司货币政策、金融稳定、金融服务三大职能。作为人民银行的分支机构,基层人民银行的工作重心也将从金融监管调整到这三大职能上来。人民银行的科技部门,就要积极运用科技手段,为人民银行履行新的职能发挥“服务、支持、促进、发展”的作用。一、围绕三大职能搭建五大平台经过“六五打基础、七五作准备、八五大发展”几个阶段后,人民银行相继实现了核算电算化、清算网络化和办公信息化。特别是近一两年来,陆续开通了大额支付系统、信贷登记咨询系统、会计四集中系统、金融信息服务网站等系统,人民银行信息化水平又…     

The Usefulness of Measures of Consistency of Discretionary Components of Accruals in the Detection of Earnings Management

Abstract:  Prior research has shown the prevalence of measurement error in models used to estimate aggregate discretionary accruals. In these models, the incremental information content of the various components of accruals is ignored. Limited prior research and data gathered from firms under Securities and Exchange Commission (SEC) litigation indicate that managers use either one or more than one component of accruals simultaneously, in a consistent way to manipulate bottom-line earnings in a given direction. I propose two measures that capture the consistency between the discretionary components of accruals and test their significance in earnings management (EM) detection in firms that have artificially added accrual manipulation and firms that were targeted by the SEC for accrual manipulation. There is evidence that this information is incrementally useful in detecting EM. This finding paves the way for improvements in the discretionary accruals measure by including consistency information from the components of aggregate accruals.     

社会主义所有制形式的改革、完善与共产党执政能力的提高

在中国,所有制形式的调整、改革与完善,先进生产力的发展,党的执政能力建设,是社会主义建设过程中密切结合在一起的三个不同层面的发展关系.应在相互促进和共同提高中促进社会的和谐发展,保证社会主义现代化建设战略目标的顺利实现.     

Summary of Results of Survey of Seminar Attendees

Abstract

The Society of Actuaries undertook a three-phase research project on mortality improvement in the three NAFTA countries: Canada, Mexico, and the U.S. Phase 1 consisted of a literature review of papers on projecting mortality levels in the future and a study of the trend in mortality improvement during this century. Phase 2 consisted of a discussion of different facets of modeling mortality rates at a seminar attended by 79 experts (actuaries, demographers, economists, and medical researchers) representing different countries. The last session of the seminar consisted of the completion of a survey by the attendees to obtain input for Phase 3, which would analyze the impact of mortality improvement on the social security system of each country. This paper summarizes the results of the survey.

The survey results illustrate the difficulty in forecasting mortality levels, because the effects of many factors that could have significant impact on mortality rates are unknown. This suggests the need for dynamic forecasting, which allows for the possibility of random shocks. A majority of the survey respondents believe that stochastic forecasting models, despite their complexity, have significant potential to add value. Respondents also believe that both historical data and cause-specific mortality forecasts are useful as input and also in validating forecasts of the aggregate levels of mortality. The challenge is to develop more sophisticated forecasting models to produce results that are relatively easy to interpret and to communicate these results to the desired audiences, including the public and policymakers.

The survey results suggest that the aggregate effect of lifestyle changes, medical advances, diseases, catastrophe, and physical environmental changes is an increase in life span. However, there is much uncertainty about the future. Respondents expect that beyond the year 2020 the mean annual rate of reduction in mortality for males age 65 and over will average about 0.58% for Canada, 0.76% for Mexico, and 0.67% for the U.S. The results for the female age 65 and over population are 0.64%, 0.83%, and 0.70%, respectively. The age 65 and over population is expected to see larger percentage reductions in mortality than the 0–14 and 15–64 populations. The reductions in male and female mortality will be ultimately the same, and the mortality levels in the three countries will ultimately converge, although differences may persist for decades.     

Separation of Unit of Account from Medium of Exchange

The separation of a unit of account (UoA) from a medium of exchange (MoE) in the commodity–money system is investigated by considering explicitly a seller's choice of UoA in terms of either an MoE or a unit of metal weight. If the likelihood of debasement of an MoE and its rate are high enough, the price is posted in terms of a unit of metal weight rather than an MoE. Interestingly, this MoE–UoA separated equilibrium yields the flexible nominal price, whereas an MoE–UoA integrated equilibrium yields the sticky one. This implies the nominal price rigidity in the fiat‐money system where MoE and UoA are integrated.     

银行软件项目外包管理分析

一、引言随着国民经济的不断发展,银行业务与外部企业的联系越来越密切。银行正逐步成为现代经济活动的中心,作为数据处理核心的银行业务应用也越来越大型化、越来越复杂化,因此许多银行也把软件项目逐步由原来的自主开发转变为与公司合作的方式,或直接外包开发的方式,银行本身的技术人员也逐步由开发转向项目管理。二、项目外包的分类银行项目的外包有以下几种情况:①部分子系统外包,有时由于银行的软件项目太大,单靠银行自身的开发力量基本无法在预定的时间内完成项目,只好把相对独立的部分外包;②直接购买软件公司的成熟产品,有些金融软…     

银行管理信息平台建设发展的思考

一、目前国内银行IT发展现状及面临的问题 银行数据集中工作的完成,标志着银行的业务由电子化建设阶段转入信息化建设阶段.一方面银行数据的集中提供了丰富全面的基础数据,面对日益庞大的数据源,如何将数字转化为对银行有用的信息,并从中发现知识,为银行的经营决策提供支持,是摆在银行IT人员面前的一个亟待解决的问题.另一方面用户对银行信息的需求日益增长,如果银行没有一套完整、实用的信息管理系统,将对业务发展非常不利.南京爱立信公司倒戈花旗银行事件曾经轰动一时,其中一个重要原因就是中国本地银行不能满足爱立信全球总部对南京爱立信公司的要求:每周财务上报和每天贷款限额管理.这一事件为中国商业银行的未来发展敲响了警钟,如果不加快管理信息系统的开发,迅速提升业务管理水平,类似的事件还会接连不断地发生,并最终导致国内商业银行在同国外商业银行的竞争中全面溃败.     

Properties of time-series estimates of degree of leverage measures

Empirical studies suggest that time-series regression estimates of the degrees of operating and financial leverage have a tendency to produce measures less than one. According to ex ante theory, these measures should be greater than one for firms operating above the breakeven point. There have also been suggestions that the biases in these estimates may be attributable to an underlying increase in unit sales. This work presents evidence that these counter-intuitive measures are produced by changes in the firm's operating parameters (unit price, variable cost, fixed cost and interest payments). It further suggests that attempts to control for the underlying change in unit sales substantially increase the volatility of predicted estimates.