The Study on Integrated Risk Management of Chinese Commercial Banks

Integrated risk management becomes gradually mainstream in worldwide. With China being a member of WTO, it put forward a higher requirement for risk management of Chinese commercial banks. So, it＇s of theoretical and practical meaning to study the integrated risk management of Chinese commercial banks. Under the guidance of integrated risk management, it pointed out the identification scope, analysis methods and systematic control strategies of risk management in Chinese commercial banks.     

Does Ownership or Competition Matter? The Effects of Telecommunications Reform on Network Expansion and Efficiency

I use newly released data from the International Telecommunications Union to examine the effects of privatization and competition on network expansion and efficiency. Using a fixed-effects model, I find that during the 1986-1995 time period, those countries that have at least fifty percent of the assets of their main telecommunications provider in the private sector have significantly higher main lines per 100 inhabitants and, to a lesser degree, have higher growth in main lines per 100 inhabitants. There is no evidence, however, that privatization leads to higher growth in main lines per 100 inhabitants in those countries whose GDP per capita is less than $10,000. Privatization is positively associated with main lines per employee and growth in main lines per employee. While competition is not found to affect network expansion, it is found to positively affect efficiency as measured in main lines per employee. In order to account for the possible endogeneity of the privatization and competition dummy variables, all equations are estimated using an instrumental variable approach as well.     

The Efficiency Evaluation of Commercial Banks Based on DEA/TOPSIS

This paper brings forward an efficiency evaluation method based on DEA/FOPSIS for commercial banks. To avoid the slack of output index, the difference is taken into account in the weight of different output index, mending the shortage of traditional DEA evaluation methods.     

The Effect of Market Structure on Banks’ Profitability and Stability: Evidence from ASEAN-5 Countries

This paper analyses the effect of market structure on profitability and stability using the sample of 130 commercial banks in ASEAN-5 countries (Indonesia, Malaysia, Philippines, Singapore and Thailand) over the period from 2001 to 2013. More specifically, this study investigates the relevance of the structure conduct performance (SCP) and the relative market power (RMP) hypotheses. This paper also examines the relevance of ‘concentration-stability’ and ‘concentration-fragility’ hypotheses in the case of ASEAN-5 banking. In doing so, we control for the effect of bank-specific and country-specific factors. Empirical results based on system-generalised method of moments (GMM) analyses support the RMP hypothesis but fail to support the SCP hypothesis. We find that concentration stabilizes the banking sector. Evidence also highlights the importance of bank-specific controls related to capitalization and costs on profitability and stability. Implications for policy-makers are addressed.     

The Effects of Earnings Guidance on Investors’ Perceptions of Firm Credibility in a Two-Firm Setting

This study investigates how a peer firm's earnings guidance affects investors' credibility assessments of a target firm. Results suggest that when both a target firm and a peer firm provide earnings guidance, contrast effects occur such that the more accurate the earnings guidance of the target firm relative to the peer, the greater are investors' credibility assessments for the target. However, such contrast effect diminishes as the target firm's earnings guidance becomes more accurate. On the contrary, when a peer provides earnings guidance but the target firm does not, assimilation effects as opposed to contrast effects dominate investors' credibility judgments.     

Effects of European integration on Austria’s economy

High expectations were placed on the project of European economic integration and Austria’s participation in it. Economists had expected that the Single Market would provide a positive supply shock, i.e. rising productivity, resulting in more growth. The optimistic forecasts for neither the EU nor for Austria were borne out by actual economic trends. Economic growth as well as productivity growth decelerated, while unemployment increased. Monetary union was implemented with an economic policy framework, the Stability and Growth Pact (SGP) that geared monetary policy only to price stability and at the same time prescribed restrictive fiscal policies. The SGP therefore reveals a deflationary bias. The existing literature on the effects of EU accession on the Austrian economy by design fails to account for the restrictive effects of the SGP. The paper presents simulation results allowing for supply shocks as well as demand shocks. The simulations are based on a medium‐sized macroeconometric model. The results indicate that recent studies overestimate the positive effects of European integration. A simulation of the restrictive demand‐side effects of the SGP, with the assumption that around half of the fall in public consumption growth in the Euro countries can be attributed to the SGP, produced significant negative growth effects. The net effect suggests a negative quarter percentage point p.a. during the period 1995–2004.     

Empirical Examination of the Effects of Competition and Regulation on Public Universities and Colleges＇ Performance in China

Competition and regulation are indispensable entities for a university＇s improved performance. Using university rating as an index to performance, empirical analyses with the data from 145 public universities and colleges in China show that increased competition in the education service market is associated with higher university＇s （college＇s） performance. And increased competition in R＆D may make a quadratic effect on university＇s （college＇s） performance. University＇s performance improves when a university is directed as a branch of the central government because they enjoy some degree of management flexibility more than the local government controlled ones. A major implication of the study is the need to reform competition and regulation for improving universities and colleges＇ operating performance in China.     

The Regional and Industrial Effects of FDI on Chinese Manufacturing Sector

This paper investigates the regional and industrial effects of FDI on Chinese manufacturing sector since China entered WTO. We find that FDI plays a different role in the development of different areas and industries through a comparison with state-controlled industrial enterprises in China. More establishments of smaller foreign funded enterprises and less foreign capital with a high level of management should promote the competition to stimulate manufacturing growth in eastern area, while fewer establishments of foreign funded enterprises with a large capital should make a great stimulus to the western manufacturing development. Both foreign capital and the establishment of foreign industrial enterprises have a great effect on the whole manufacturing sector by industry.     

Study on Ecological Strategy of Enterprises＇ Competition

The ecolotogical research of enterprises＇ competition is the front line of current research of enterprises ＇ competition strategy ： This text applies the competition principle of living creature in ecology to research enterprises＇ competition problems .explains the ecological characterisiics of enterprises＇ competition, such as non-symmetry, crowded effect, density effect. competition-rejective effect, suitable resources niche and red queen effect etc., deduces the ecological model of enterprise＇ competition, and further analyzes enterprises＇ competition strategy; strategy R and strategy K. on the basis of enterprises＇ practices, Therefore enterprises＇ competition ecosystem theories have further been deepened and enriched.     

The Recent Development of International Exchange Market and its Effects on China

1. The Key Points of Recent Development of International Exchange Market The unusual fluctuation of international exchange market lies in the following three facts： firstly, there are irreconcilable contradictions in current international monetary system, caused by USA which is the core of cttrrent int#rnational monetary system and has been carrying out irresponsible economic policies for a long time. Secondly, thel economic structure of USA loses balance seriously. Thirdly, the balance of payments （BP） becomes a tough problem for the USA government.     

The Evaluating Method of Technology Innovation Risk

The thesis analyzes risk factors of enterprise＇s technology innovation, adopts the undetermined measuring model to evaluate technology innovation risk and testifies it through an example.     

New Frontiers of Profit and Risk: The Fourth Industrial Revolution’s Impact on Business and Human Rights

ABSTRACT

The Fourth Industrial Revolution, characterised by the fusion of physical, digital, and biological technologies, will have profound social and economic consequences. But what impact will it have on human rights? This article critically interrogates key writings and speeches about the Fourth Industrial Revolution, which requires reading between the lines of technical, business, and policy-orientated materials that rarely address human rights explicitly. The findings are a mix of good and bad news. First, the traditional linkage between economic competition and violations of bodily integrity is weakening as new forms of profitability in tomorrow’s digital ecosystems require empowered and creative individuals. However, these celebratory visions of the profitable interpenetration of our bodies, hardware and virtual worlds has a dark side. The next-generation of human rights violations arising from transnational business activities will be increasingly subtle, diffuse, and sophisticated.     

Effects of attending preschool on adolescents’ outcomes: evidence from China

This study examines whether attending preschool enhances the cognitive abilities, health and socialization of junior high school students in China. Using propensity score matching to control for a rich data set of student, family and school characteristics, I find that attending preschool enhances cognition among seventh graders but those gains fade among ninth graders. The greatest benefits from preschool accrue to both seventh and ninth graders from economically disadvantaged families. Results for non-cognitive categories are mixed, and no evidence suggests superior health outcomes. Evidence also shows cognitive benefits among adolescents – especially those economically disadvantaged – who entered preschool earlier.     

The Research on Establishing Construction Risk System in China

Through the analysis of our country＇s present construction risk management, the paper points out that the construction risk management system should be established on the construction insurance and guarantee, then puts forwards detailed countermeasures from six aspects, which consist of basic contents of establishing the construction insurance and guarantee system, issuing related laws which will speed up the implementing of the system, expediting the development of the agencies and market entities of the construction insurance and guarantee, establishing associations of the construction insurance and guarantee, enhancing government＇s support of imolementing the system.     

The Quantitative Analysis on Leverage and its Effects

Leverage of modem enterprise＇s financial management includes operating leverage and financial leverage. Both of them exist objectively, are not changeable with human＇s minds. They enlarge enterprise＇s benefit and risk, so they have both positive and negative effects. The degrees of them are measured as DOL and DFL. In financial management, the relationship between DOL and operating risk has regularity in quantity, and so does the relationship between DFL and financial risk.     

The effects of education on spouses’ satisfaction in Europe

This article identifies the effects of both own and spouses' education levels on individual economic satisfaction for European households. To that end, it estimates several specifications based on the family collective approach, for each of the 14 EU countries, by using the eight waves of the European Community Household Panel, 1994–2001. After demonstrating that the IV Hausman–Taylor procedure is the selected estimation method in the majority of cases, the empirical results show that male and female income satisfaction significantly increases when the husband achieves higher education qualifications in the majority of European countries. However, the positive effect of the wife's higher education on female income satisfaction only appears in a very limited number of countries. Additionally, increases in individual wage and nonwage incomes generally lead to higher satisfaction levels.     

The effects of inflation targeting on Okun’s law

This article provides the first empirical evidence that the adoption of inflation targeting (IT) matters for the extent of tradeoff between unemployment and output, that is Okun’s law. Our full sample results indicate that IT leads to a more negative Okun’s coefficient, suggesting that, for a given reduction of output, the introduction of IT is associated with a higher unemployment rate. Subsample analyses reveal that the whole sample results are mainly driven by the industrial subsample outcomes, not the developing counterparts. Our findings point out that IT not only influences macroeconomic variables per se but also affects the relationship between/among macroeconomic variables.     

The true effect of students’ employment on the duration of studies

We examine the effect of the first-degree students’ employment on the prolongation of their studies. When employing a popular instrumental variable, the regional unemployment rate, we find a negative impact of students’ employment on duration of studies. Then, adding a predetermined IV – the individual’s employment prior to the beginning of academic studies – turns the estimate positive. Furthermore, we find that the relationship between the extent of students’ employment and duration of their studies depends on their age: among the younger students (aged 22–26), the extent of employment has no effect on the duration of studies, while among the older students, the effect is positive and statistically significant.