商业银行客户信用评级研究--基于平衡计分卡视角

信贷业务是国内商业银行的主营业务,客户信用评级作为控制商业银行信贷风险的重要一环是商业银行进行授信、贷款审批和贷后管理的基础。客户信用评级体系的开发和完善也成为了当前银行工作的重点。文章基于平衡计分卡的视角,针对当前商业银行客户信用评级管理的现状与不足,从四个方面对评级指标进行选取。同时使用层次分析法对指标体系进行权重分配并设定相应的评分标准和客户信用等级,最后通过案例分析对模型的操作性和有效性进行了验证。文章的评级模型并不同于国外研究论述的数学模型,其在操作上更加简便,信息获取也较为方便,更加适合当前我国商业银行借鉴和使用,因此也在一定程度上对我国商业银行客户信用评级体系的不断完善提供了参考意见。     

基于银保协作路径的商业银行信用风险预警机制研究

从贷款企业的财务运营能力预警评价、经营管理能力预警评价、技术创新能力预警评价三个层面系统设计商业银行信用风险预警机制的指标体系,在确定各因素预警临界值基础上,进行信用风险预警机制的警示设置,并构造警度评价函数,以实现商业银行信用风险预警机制的警度判断及处置功能,从而实现商业银行信用风险预警机制的预警功能,为构建科学高效的商业银行风险管理机制提供重要的理论指导与决策参考。     

企业信用行为与其融资关系研究——基于二元选择模型的实证分析

信用不是与生俱来的,也不能仅仅靠道德教化,必须靠社会信用体系来维护。企业在征信体系建设中的行为有很多,本文对企业是否连续办理贷款卡年审行为进行研究,采用二元选择模型对企业在征信体系建设中的行为与其融资情况关系进行实证分析,最后根据结论提出相关建议。     

An enduring need: multilateralism in the twenty-first century

That the global economy has been hugely successful over thepast 50 years is unquestionable. A major underpinning of thatsuccess has been the open multilateral system, which has enabledthe emergence of a truly international financial system, reciprocalreduction of trade barriers, and the emergence of many previouslypoor countries into the status of ‘emerging markets’or even ‘developed’. The open multilateral system,however, is increasingly under-appreciated and taken for granted.Preferential trading arrangements have proliferated, and withthem the possibility of discriminatory arrangements for capitalflows. The absence of an international regime for capital flowspermits this development and poses a threat to the system, asdo all of the issues on which countries' governments assert‘their’ interests, and ignore their interests inthe overall health of the system. It is to be hoped that thebenefits of multilateralism are more greatly appreciated, andthat the current trend toward increasing regionalism and departuresfrom the post-war system is reversed.     

Stability of international stock market relationships across month of the year and different holding intervals

Potential benefits from international diversification depend upon the stability in stock market relationships. Using monthly data of 11 international stock markets, this paper examines the stability in stock market relationships across month of the year and across different holding intervals. Empirical results show that the correlation structure is more stable than the covariance structure. While empirical evidence supports the hypothesis that the correlation structure is very stable across different holding intervals, the empirical support for the stability in correlation structure across month of the year is much weaker.     

信用:成本、风险与收益分析

信用活动中,筹资者为获取收益往往要花费一定成本、承担一定风险,资信越好的筹资者能以较小风险筹集到更多低成本资金;决定筹资者能否获得信用支持的主要因素是筹资者的经济规模、经济结构以及由此决定的市场竞争力;投资者为获取收益也要花费必要成本并面临诸多风险;信用短缺不仅使微观经济主体受损,更会使整个社会经济交易成本上升、交易规模下降、社会资源闲置,甚至会诱发金融危机.     

Strategic freedom, constraint, and symmetry in one-period markets with cash and credit payment

Summary. In order to explain in a systematic way why certain combinations of market, financial, and legal structures may be intrinsic to certain capabilities to exchange real goods, we introduce criteria for abstracting the qualitative functions of markets. The criteria involve the number of strategic freedoms the combined institutions, considered as formalized strategic games, present to traders, the constraints they impose, and the symmetry with which those constraints are applied to the traders. We pay particular attention to what is required to make these strategic market games well-defined, and to make various solutions computable by the agents within the bounds on information and control they are assumed to have. As an application of these criteria, we present a complete taxonomy of the minimal one-period exchange economies with symmetric information and inside money. A natural hierarchy of market forms is observed to emerge, in which institutionally simpler markets are often found to be more suitable to fewer and less-diversified traders, while the institutionally richer markets only become functional as the size and diversity of their users gets large.Received: 5 June 2003, Revised: 18 November 2003, JEL Classification Numbers: C7, G10, G20, L10, D40, D50. Correspondence to: Eric SmithEric Smith, Martin Shubik: We are grateful to Lloyd Shapley, Duncan Foley, and Doyne Farmer for discussions in the course of this work.