金融市场:对监管者的监管——运用经济理论分析对监管者监管的必要性

文章从政府监管是公共产品,存在自然垄断现象,寻租行为和道德风险并且可能存在政府管制失灵等方面分析了对我国金融市场监管者监管的必要性,最后运用博弈论分析指出对监管者进行有效监管可以减少违规操作,使金融监管提高资源配置效率。     

农产品质量安全中的利益主体间博弈模型

本文是基于农产品质量安全现状,就参与利益主体分为供给者,监管者和消费者,监管者分为上级监管者与下级监管者,并建立供给者与消费者博弈模型与上级监管者与基层监管者、消费者博弈模型。最后对结论进行分析,提出提高农产品质量安全的有效措施。     

衍生金融工具风险的会计监管

会计监管是衍生金融工具监管体系中的基础环节,在控制风险的积聚和传播方面起着重要的作用。为有效地对衍生金融工具风险进行会计监管,我国应完善会计准则以降低会计理论与衍生金融工具的冲突;推进针对衍生金融工具会计的审计准则体系建设;建立衍生金融工具的会计实时控制;强化政府在衍生工具监管体系中的作用;构建会计专业技术和会计职业道德教育体系。     

金融业综合统计监管的国际经验及其借鉴

随着我国跨市场的交叉性金融业务不断增多,给金融业的稳定带来了不确定性因素,因此,健全的功能性监管架构和动态监测指标体系必不可少。本文总结美国、英国和香港特别行政区金融业综合统计对金融产品风险监管的经验,结合当前我国交叉性金融产品风险监管的现状,提出启示和建议。     

论证券市场监管的目标

本文借鉴美国、日本、韩国等国家和地区证券市场监管目标的选择,论述了我国证券市场监管的根本目标和具体目标,分析了我国证券市场监管的效率性目标和安全性目标。文章指出,监管者应该关注证券监管的根本目标,监管者当然应该关心指数,但这不应该成为监管部门调控指数涨跌的借口。     

衍生金融工具会计准则初探

衍生金融工具从其诞生到现在,短短20多年的时间里,显示出了强大的生命力和破坏力,如何对衍生金融工具实施有效地监管是亟待解决的难题,而会计监管正是人们十分重视、同时也是最有效的监管手段之一。本文着重分析了衍生金融工具的会计准则制定模式。     

证券监管者双引擎激励与监管效率

证监会及其分支机构作为一个受托履行监管职责的机构,其监管目标的实现最终要落实到证券监管者的具体行为之中,违规行为的控制将在很大程度上依赖于证券监管者的工作积极性、责任心和综合素质。因此,证监会及其分支机构只有强化对证券监管者的双引擎激励制度——薪酬激励制度与非薪酬激励制度,才能促使其加强监管力度,在维持监管强度的同时,提高监管效率。     

衍生金融工具风险的会计确认研究

当前新型的衍生金融工具众多,从事衍生金融工具交易的企业面临的风险也越来越大,必须加强对衍生金融工具的会计监管.文章基于此主要研究了衍生金融工具风险的会计确认相关问题,以期对于相关工作人员提供参考.     

衍生金融工具会计的信息披露与监管

近几年衍生金融工具这一名词在我们的视野中频繁的出现,经济领域的专家学者们正在不断地对它进行着深入地研究。本文从衍生金融工具的概念和特点出发,揭示对衍生金融工具信息披露和监管的重要性,从而提出完善我国衍生金融工具的意见。     

企业会计舞弊及其控制：基于博弈理论的分析

本文从博弈论的视角分析了我国企业会计舞弊现象蔓延的本质原因.在此基础上提出有效抑制会计舞弊行为的两点措施:一是通过引入对监管者的奖励系数,充分调动监管者的积极性,激励监管者积极实施严监管;二是通过引入对地方政府主要领导的处罚系数,严惩会计舞弊的"地方保护主义",迫使其严厉打击实施会计舞弊者.     

A Question of Trust: the Pursuit of Consumer Trust in the Financial Sector by Means of EU Legislation

The decrease in consumer trust in the financial sector and the attempts to restore it are receiving a great deal of interest, especially since the financial crisis at the end of 2008. EU legislation is one of the ways that attempts have been made to regain the trust of investors. In the second section, the concept of “trust” will be subjected to an in-depth yet not exhaustive examination, with the aim of reducing its elusiveness. The third section will discuss three recent EU proposals. Examination of these legislative proposals reveals that (1) the term “trust” is not precisely defined, and (2) without stating further reasons, the restoration of trust in the financial sector is considered a worthy goal. In light of the aforementioned, the fourth section will address the desirability of clarity regarding the term “trust.” The fifth section will then assess whether legislation is a suitable means to restore consumer trust, and the sixth section explores whether the restoration of consumer trust in the financial sector is a worthy goal. Indeed, the European legislator and other policymakers seem to consider a low level of consumer trust a bad thing, a high level of consumer trust a good thing, and a higher level of consumer trust an even better thing. This article will argue that it is doubtful whether EU legislation is a suitable means for restoring consumer trust in the financial sector and, moreover, that considering the perverse incentives in the current financial sector, among other things, a realistic degree of trust, implying a certain distrust, appears preferable.     

The Antecedents of Trust in Business-to-Business Financial Services

Purpose: To explore how satisfaction, communication, customization, competence, and shared values (as antecedents) influence trust in B2B financial services relationships, and to assist decision makers in this industry to manage long-term relationships with their clients.

Methodology/approach: Based on a literature review, five hypotheses were developed. The hypotheses were addressed by empirically evaluating a theoretical model based on data from both relationship managers and the clients of a leading South African B2B financial services provider. Regression analysis was used to assess the relationships in the relationship-manager sample, while structural equation modeling (SEM) was used to assess the relationships in the client sample.

Findings: In the relationship-manager sample, satisfaction, competence, and shared values were found to be significant predictors of trust. However, in the client sample, all five of the hypothesized antecedents were found to contribute significantly to trust.

Originality/value/contribution: The major contribution of this study, for both marketing academics and practitioners, lies in the simultaneous consideration of the perceptions of both financial services providers as well as their clients. As far as it could be ascertained, this combination of both exchange partners (service providers and clients) in a single study has not been reported in a financial services context.     

Trust,confidence and economic crisis

This article explores the role of trust and confidence in economic life, and their relevance to the current financial crisis. It outlines a recent history of research and debate on the relationship between social trust and economic prosperity, before introducing more recent data on trust against the backdrop of the financial downturn. It goes on to distinguish the informal and social bases of trust from three key formal mechanisms of economic confidence (information, contract, regulation), linking this distinction to Akerlof and Shiller’s revival of Keynes’ discussion of the “animal spirits” that animate economic behaviour. Finally the policy dimensions are considered.     

论区域金融风险的防范与化解

区域金融风险作为一种客观经济现象,其产生既有金融业自身的原因,也有金融业之外的原因。应该从建立区域金融风险预警系统、建立和完善金融机构内部风险控制体系、改进区域内金融监管机构对区域金融风险的监控水平、强化区域内金融机构的行业自律、改善防范与化解区域金融风险的外部环境等方面入手,对区域金融风险进行有效的防范与化解。     

Should Historians Trust Late Nineteenth-Century Company Financial Statements?

Business historians generally have been advised to adopt a cautious apporach when using financial accounting statements. This paper reviews the Business History literature on financial accounting practices and argues, by reference to evidence obtained from the exiting accounting and economic history literatures and from new archival sources, that this caution may well be excessive if applied to the corporate data of the late nineteenth century.     

Can an Ethical Revival of Prudence Within Prudential Regulation Tackle Corporate Psychopathy?

The view that corporate psychopathy played a significant role in causing the global financial crisis, although insightful, paints a reductionist picture of what we present as the broader issue. Our broader issue is the tendency for psychopathy, narcissism and Machiavellianism to cluster psychologically and culturally as ‘dark leadership’ within global financial institutions. Strong evidence for their co-intensification across society and in corporations ought to alarm financial regulators. We argue that an ‘ethical revival’ of prudence within prudential regulation ought to be included in any package of solutions. Referencing research on moral muteness and the role of language in framing thoughts and behaviours, we recommend that regulators define prudence in an explicitly normative sense, an approach that may be further strengthened by drawing upon a widely appealing ethic of intergenerational care. An ethical revival of prudence, we argue, would allow the core problems of greed and myopia highlighted by corporate psychopathy theory to be addressed in a politically sensitive manner which recognises the pitfalls of regulating directly against corporate psychopathy. Furthermore, it would provide a viable conceptual framework to guide regulators along the treacherous path to more intrusive cultural regulation.     

监管政策能否抑制商业银行亲周期行为——基于中国上市银行面板数据的经验证据

当前,实施逆经济周期的宏观审慎监管已成为国际组织和各国监管当局的共识.通过对2001-2009年国内上市银行面板数据进行估计,本文发现我国商业银行具有稳定的资本缓冲计提顺周期行为,但信贷活动并不具有明显的亲周期性特征,表明监管部门的资本监管政策总体上已经渐进有效.为了更有效地提升中国金融体系的稳健性,进一步实施宏观审慎和微观审慎协调的金融监管制度,完善逆周期的资本监管机制,抑制金融机构亲周期行为应成为中国金融监管改革的必要内容.     

Sources of increasing systemic risk in international financial markets

In its annual report, published in June, the Bank for International Settlements (BIS) warned of increasing systemic risk in international financial markets. Competitive pressures will intensify in the years to come and financial institutions and regulators around the world appear ill-prepared to cope with the resulting challenges. The pressures are expected to grow for three reasons above all: the prospective “Big Bang” of the Japanese financial system, a further erosion of the Glass-Steagall restrictions in the United States and the preparations of financial institutions in Europe to position themselves for the introduction of the euro.¹     

The Joint Effect of Ethical Idealism and Trait Skepticism on Auditors’ Fraud Detection

Journal of Business Ethics - Although regulators have identified ethical lapses as a key factor contributing to auditors’ failure to detect their clients’ fraudulent financial reporting...