我国海南黄花梨资源与开发研究

[目的]海南黄花梨列为国家保护的濒危树种,是热带珍贵树种,木材资源稀少,材质好。为开发海南黄花梨资源,发展经济效益较高的海南黄花梨种植业。[方法]文章论述了海南黄花梨的生长条件和分布情况,并对海南黄花梨资源匮乏因素和海南黄花梨资源开发可行性进行分析。[结果]认为海南黄花梨种植开发前景好,可持续提升乡村绿色经济,经济效益显著,可广泛种植于我国海南、广西、广东、云南、福建、贵州等热带亚热带地区。[结论]建议我国热带亚热带地区结合立地环境实际,科学规划种植海南黄花梨,利用坡地、荒地、零星土地、边角地和房前屋后地,农村村间道路,园林绿化、小公园、小游乐园的绿化地带开发种植海南黄花梨,造就具有地方特色的海南黄花梨经济发展带及景色和景点,增加林木经济资源,增添农村绿色财富。同时,营造全民爱花梨的良好社会舆论氛围,加强海南黄花梨保护,为海南黄花梨发展提供法治保障。     

银行支持中小企业的制度创新

近几年来，经济欠发达地区中小企业有了较快发展，已成为推动经济增长的重要力量，具有很大发展潜力，客观上也为欠发达地区银行提供了新的发展机遇。     

Corporate social responsibility and trade credit

Review of Quantitative Finance and Accounting - Prior studies show that higher corporate social responsibility (CSR) performance lowers firms’ cost of debt and equity financing. Using a...     

基于行业金融的城市商业银行运营模式研究

创新金融服务方式,大力加强金融扶持中小微企业是国家为振兴和壮大实体经济的既定金融政策导向.中小型城市商业银行作为服务中小微企业客户的主要力量,既面临着严峻竞争形势,也迎来了发展的重要机遇.本文以行业金融为着眼点,探索了其以中小型城市商业银行为运行载体的运营模式,包括银行组织架构、业务模式和绩效考核模式,以期为努力突破生存与发展瓶颈的城商行找到一个经营模式转型创新的突破口.     

试论新民主主义革命时期中共土改政策的历史演进

我国的土地政策是在土地革命时期开始初步形成;抗日战争时期有所调整;解放战争时期得到完善.历史经验表明:党的土地政策是革命事业进退盛哀的关键.土地政策的调整和变化,充分反映出了中国共产党自身不断走向成熟的过程,对今天进行新农村建设,落实好新的土地政策.具有可资借鉴的现实意义.     

Impact of mortgage soft information in loan pricing on default prediction using machine learning

We analyze the impact of soft information on US mortgages for default prediction and provide a new measure for lender soft information that is based on the interest rates offered to borrowers and incremental to public hard information. Hard and soft information provide for a variation in annual default probabilities of approximately 3%. Soft information has a lesser impact over time and time since origination. Lenders rely more on soft information for high-risk borrowers. Our study evidences the importance of soft information collected at loan origination.     

CAPITAL STRUCTURE MANAGEMENT AS A MOTIVATION FOR CALLING CONVERTIBLE DEBT

Using a matched-pairs methodology, we present empirical evidence of systematic changes within a corporation that are associated with calls of convertible debt. We find that calling firms experience significantly greater growth than noncalling firms in the same industry, as measured by retained earnings and long-term debt. Also, the converted debt provides a significant source of new book equity, and calling firms issue significantly less other new equity. The pattern of growth in balance sheet accounts is consistent with the pecking order hypothesis and supports the notion that some firms call convertible debt to reduce their total cost of obtaining additional external financing. The evidence also shows that, on average, calling firms experience a significant decline in their leverage ratio based on book value but no significant change in their leverage ratio based on market value of equity. This is consistent with the call's being used as part of the firm's management of its capital structure.     

网络组织在跨国公司创新中的作用及其挑战

网络组织是现代跨国公司组织管理在网络技术推动下的新型组织形式,在当今全球竞争日趋激烈的环境下,知识和创新已成为企业竞争制胜的关键。本文分析了跨国公司网络组织创新的动因,并对我国企业管理组织发展提出了一些建议。     

从公司内部治理看上市公司信息披露的诚信问题

上市公司信息披露质量的高低直接影响到证券市场的健康发展。而公司内部治理结构与信息披露的内容和质量存在密切联系。本文主要从公司内部治理结构出发,分析我国上市公司信息披露缺乏诚信的原因,并提出提高信息披露质量的建议。     

多层次资本市场的效率研究--以长三角多层次资本市场构建为例

资本市场效率的有效发挥与区域的经济发展水平、金融深化度、投资者理念及行为选择等特征条件密切相关,多层次资本市场是资本市场效率的重要支撑和实现途径。在此分析基础上,本文进而指出长三角地区多层次资本市场的构建和运作效率,是实现区域金融资源优化配置与资本市场制度建设的核心内容。