对于吉林省发展农村普惠金融的思考

党的十八届三中全会明确提出发展普惠金融。发展普惠金融对于促进金融公平、提高弱势群体收入、构建现代金融体系、优化金融服务和产品,具有重大而深远的意义。本文重点分析了农业大省吉林省构建农村普惠金融的主力军、建设过程中需要破解的难题,并对相关问题的解决提出了对策建议。     

基于地方财政效率问题分析“藏富于民”的途径

随着公共财政体系的推进,财政效率越来越受到社会的广泛关注。地方财政效率欠佳导致贫富分化问题难以解决。如果地方财政效率不提高,国家经济的长远发展将受到阻碍。提高地方财政效率,缩小贫富差距迫在眉睫。     

互联网金融监管的政治经济学分析

近年来,我国互联网金融蓬勃发展。面对各种互联网金融业态争相涌现,政府采取了较为积极的态度,但在2014年“两会”后则加强了对互联网金融发展的监管,以防范金融风险,维护金融安全。本文从政治经济学的角度来分析互联网金融的监管问题,指出如果放任互联网巨头开展互联网金融,可能会导致互联网超额利润和金融超额利润的叠加,从而引起新的社会不公。因此,政府需要加强对互联网金融的监管,鼓励有序竞争,促进互联网金融的健康发展。     

An Analysis of the Advantages and Disadvantages of the Rural Bank Subsidiary

随着村镇银行的不断发展，遇到的问题也越来越多，尤其是批量化、规模化、专业化设立的问题。历经“总分行制”、“管理总部制”、“控股公司制”等设想的搁置，银监会又于近期提出“村镇银行子银行”的建议，并把《商业银行村镇银行子银行管理暂行办法（征求意见稿）》下发至各商业银行征求意见。本研究首先对村镇银行子银行进行概述，然后分析设立村镇银行子银行的优势及劣势。     

从资本结构到交易结构——探究企业金融微观结构

资本结构及融资行为是公司金融领域的重要论题,数十年来研究成果丰硕,但对商业实践真正有指导意义的成果却凤毛麟角。本文指出了到目前为止的资本结构研究的主要方向及其不足,提出了企业金融微观结构概念。本文认为,商学院的公司资本结构研究应该区别于经济学,深入到金融工具交易结构的微观层面,才能更深刻、真实地揭示金融实践原理,更好地指导金融实践。     

Hotel accounts — do men get the best jobs?

Salary levels of women in hospitality financial management appear to be lower than those of men with similar job titles. However, further analysis of a limited sample suggests that salary levels are generally dependent on the level of work and place of employment – and that men tend to be employed in the jobs with higher responsibilities and hence status. There has been some progression by women into the higher status, higher-paying jobs but certain barriers still appears to exist which affect the rate of change.     

Budgetary institutions and fiscal discipline: Edmund Burke's insightful contribution

Recent developments in the political economy of public finance literature have focused on the features of budgetary institutions that facilitate budgetary discipline — a sub-discipline of constitutional economics. In this literature, there has been no attempt to trace the development of economic thought on the relationship between budgetary institutions and fiscal discipline. This may be because debt accumulation in peacetime is seen as a late twentieth-century phenomenon. As a result, Edmund Burke's contribution, in his speech ‘On Economical Reform’, seems to have been forgotten. This paper highlights Burke's contribution and identifies the extent to which it captures those features of budgetary institutions that are currently recognized as facilitating budgetary discipline.     

民营企业融资所处困境的危机金融生态分析

2007年下半年以来波及全球的世界性经济危机对我国民营企业的发展带来了沉重的打击,反映最强烈的问题便是因资金链的断裂而造成的资金短缺。融资利益各方在信息不对称约束下相互博弈,形成了不同于常规金融环境下的金融生态。因此,只有切实从危机生态下的困境结点出发,才能寻找出特定金融生态下摆脱民营企业融资困境的路径。     

以应对金融危机的视角看我国城市化进程中地方财政困境的化解

全球性金融危机使我国经济遭到严重打击,也给我国带来了巨大的就业压力。笔者以为,当前形势下扩大就业的根本出路在于加快我国的城市化进程,而这一目标的实现又离不开地方财政的支持,然而94分税制后我国地方财政困境已是不争的事实,当前的经济形势又进一步加剧了地方财政的危机,因此,研究如何化解地方财政困境问题已成当务之急。     

Putable common stock

The underpricing of initial public offerings is a well-documented phenomenon in the financial literature. The purpose of this paper is to show how this empirical regularity could be solved by an appropriate choice of financing instruments, namely, by an intelligent mix of common stocks and put options. The latter additional instrument, modeled in this paper as a lump sum paid by insiders of the firm to outsiders, helps alleviate the asymmetry of information existing between insiders and outsiders of the corporation, allowing good firms to sell the package they offer at the full information value.