CEPA条件下广东科技型中小企业信用担保融资问题研究

近两年,广东科技型中小企业出现快速发展的局面,但是存在不少问题制约了企业规模的扩大和健康成长,其中融资问题成为制约企业发展的瓶颈。本文在分析CEPA的签署和实施给广东科技型中小企业信用担保融资带来的机遇的基础上,从完善风险分散机制、建立科技型中小企业专业化担保体系等方面提出对策,加强广东信用担保体系建设,解决科技型中小企业融资难的问题。     

CEPA条件下如何改善广东科技型中小企业权益融资困境

CEPA的签署为改善科技型中小企业的权益融资环境提供了新的契机,加强粤港两地的金融合作,有利于拓宽广东省科技型中小企业的权益融资渠道,弥补资金缺口。     

对城市产业调整的思考——关于成都市东郊工业区调整的调研思考

城市老工业集中区的产业结构调整往往因过多地关注城市环境要求和土地置换增值而较单纯的选择搬迁的路子,但搬迁企业面临的风险、搬迁需要的巨大资金、企业员工的利益述求、迁入区配套条件等都是绕不过的影响因素,必须妥善解决方能合理推进搬迁,同时应回归重在“调”二非“搬”的思路。     

基于信息不对称条件下金融租赁与商业银行业务的关系研究

在银行信贷市场中，信息不对称是困扰信贷市场的一大难题，导致大量的银行贷款无法收回，使缺乏信息的银行出现“惜贷”的不正常现象。由于信息不对称导致的逆向选择和道德风险问题的存在，使大量的中小企业被排斥在正规的金融体系之外。     

Term Structure Dynamics in Theory and Reality

This article is a critical survey of models designed for pricingfixed-income securities and their associated term structuresof market yields. Our primary focus is on the interplay betweenthe theoretical specification of dynamic term structure modelsand their empirical fit to historical changes in the shapesof yield curves. We begin by overviewing the dynamic term structuremodels that have been fit to treasury or swap yield curves andin which the risk factors follow diffusions, jump-diffusion,or have "switching regimes." Then the goodness-of-fit of thesemodels is assessed relative to their abilities to (i) matchlinear projections of changes in yields onto the slope of theyield curve; (ii) match the persistence of conditional volatilities,and the shapes of term structures of unconditional volatilities,of yields; and (iii) to reliably price caps, swaptions, andother fixed-income derivatives. For the case of defaultablesecurities we explore the relative fits to historical yieldspreads.     

论战略成本管理

文章介绍了企业成本管理的内涵、目标以及邮政管理面临的困境,并在此基础上以昆明邮区中心局为例,阐述了邮政企业实施战略成本管理的措施、成效以及注意事项。     

发展优势产业集群提升综合竞争能力——促进长白山地区绿色食品产业升级的探讨

长白山具有得天独厚的资源优势。长白山地区食品工业已初具规模,但还存在总体规模偏小、市场集中度偏低、企业规模偏小等问题。产业集群是提高长白山绿色食品产业竞争力的重要途径,长白山地区应采取积极的对策发展绿色食品产业集群。     

基于SaaS模式的特种设备维修企业管理信息系统

分析特种设备维修企业信息化管理现状，提出基于SaaS模式的特种设备维修企业信息化应用对策，设计基于SaaS模式的特种设备维修企业管理信息系统。     

How Environmental Management Competitive Pressure Affects a Focal Firm's Environmental Innovation Activities: A Green Supply Chain Perspective

Recently, environmental management offers firms a source of competitive advantage in the marketplace. The development of environmental innovations is critical to the success of today's firms. Drawing on the Schumpeterian perspective of competition, this research examines how the perception of rival firms' green success influences a firm to pursue and produce environmental innovation through its green supply chain integration activities. Using survey data from 230 firms, a conceptual model is developed and tested using structural equation modeling. We find that the firms in our sample do perceive pressure from their competitors' success in environmental management activities, and thus take supply chain action to pursue integration activities. By differentiating incremental and radical environmental innovation, this study also reveals the role of three dimensions of green supply chain integration (internal, supplier, and customer integration of green product development) on incremental and radical environmental innovation separately. Specifically, findings suggest that green supply chain integration has a positive impact on developing incremental environmental innovation, while only customer integration has a significant positive impact on developing radical environmental innovation.     

Optimal arbitrage strategies on stock index futures under position limits

Assuming the absence of market frictions, deterministic interest rates, and certainty in dividend payouts from the stocks in the index basket, an arbitrageur can lock in the profit of a positive (negative) arbitrage basis in a stock index futures by adopting a short (long) futures strategy. In addition, the arbitrageur may improve the arbitrage profit by adopting the so‐called early unwinding strategy of liquidating the position before maturity, or more aggressively from the long position directly to the short position or vice versa. In this study, we examine the optimal arbitrage strategies in stock index futures with position limits and transaction costs. In our analysis, the index arbitrage basis is assumed to follow the Brownian Bridge process. The model formulation of the option value functions leads to a coupled system of variational inequalities. We determine the values of the arbitrage opportunities and the optimal threshold values of the arbitrage basis at which the arbitrageur should optimally close an existing position or open a new index arbitrage position. In particular, we examine the impact of transaction costs on the index arbitrage strategies. © 2010 Wiley Periodicals, Inc. Jrl Fut Mark 31:394–406, 2011