The cyclicality of bank regulation in a general economic framework

This article utilizes a representative agent model to address how the regulation policies for banks should respond to the general economic condition. With the consideration of a self-fulfilling deposit insurance facility with sufficient bank reserve to meet the expected need of liquidity shock, our model suggests a counter-cyclical capital adequacy requirement in a competitive loan market. The exception might occur when the moral hazard problem becomes very unwieldy and the representative individual is rather risk averse. With regard to the closure policy, we find that it is closely related to the individual’s degree of risk aversion. A counter-cyclical closure policy is recommended when the individual is highly risk averse. Otherwise, a pro-cyclical closure policy is preferred.     

The ‘Jim Factor’—My Experience as a First-Time Accounting Tutor

Sandy Burton was a seasoned academic who played a major role in shaping American accounting regulation in the latter part of the twentieth century. A vocal reformer, he became a vigorous SEC Chief Accountant and thereafter New York City Deputy Mayor. He was a critic of accounting practice as well as academe, preaching the gospel of reform in writings and speeches. Contending that accounting was too narrowly focused, he called upon the accounting community to reinvent itself. He was profoundly dissatisfied with the nature of academic accounting research because it had been irrelevant to practice. Burton earned considerable respect for attempting to bridge the gap between accounting practice and academe.     

更好地认识“全面建设小康社会的新要求”

全面建设小康社会是中国共产党在21世纪前20年的奋斗目标。党的十七大报告在十六大报告的基础上提出了实现全面建设小康社会奋斗目标的五个方面的新要求,更好地认识和理解这些要求,将为实现全面建设小康社会的奋斗目标打下良好基础。     

高职教育改革背景下的教学质量保障体系建设

本文主要探讨了高职教育改革背景下的教学质量保障体系建设所面临的主要问题,分析了教学质量保障体系建设的要求,最后提出了一些对策和措施。     

避免键联接产生装配干涉的公差设计方案

分析了键联接进行装配时产生干涉的具体情况,介绍了保证键联接顺利装配的2种公差设计方案,并对各方案的含义、图样标注和应用特点进行了介绍。     

论高校教学管理新模式

目前 ,在教学管理中还存在一定程度的教学目标模糊、管理方法单一、培养效果不佳的现象 ,与新时期对高素质人才的要求不相适应。新型的高校教学管理模式应遵循科学的管理原则、程序和方法 ,实施教学过程的组织 ,使教学资源包括人力、物力、财力、时间和信息获得充分利用。     

企业利益相关者利益平衡机制研究

利益相关者的利益平衡问题一直是理论界关注的热点问题,以往的研究强调了企业对利益要求满足的责任,而忽略了企业对利益要求满足的实力,限制了研究结论的实用性。从企业的角度出发,综合考虑企业需求、实力和利益相关者三方面因素,设计了一套包括整体平衡、各类间平衡和动态平衡的利益要求平衡机制,以二滩公司为例,说明平衡机制的实用性,并给出了利益满足平衡的具体实施措施。     

液化石油气钢瓶安全性要求与检验

分析和介绍了液化石油气钢瓶产品安全性的具体要求及产品检验考核的目的,并对使用及维护中对安全的构成不良影响的现象进行了分析和说明,为检查和使用液化石油气钢瓶的有关方面提供参考。     

面向用户的数据结构及数据访问技术

数据库是实现信息处理技术的基础,构建统一数据格式的输入输出接口,设计风格统一的数据访问界面是设计信息处理软件系统的关键。基于上述观点,笔者以实例论述了基于用户的数据结构组织及数据访问技术,总结了实现信息处理系统的行之有效的技术路线。     

The impact of trading restrictions and margin requirements on stock index futures

Stock index futures in Chinese market have consistently diverged from their theoretical values. In this paper, we try to provide some explanations by proposing an equilibrium model. Although the model itself does not provide analytical solutions, it enables us to conduct extensive numerical studies and compare them with our empirical results on two major Chinese market indices, CSI300 and SSE50. Our results show that the divergence of stock index futures prices from their theoretical values may be due to various trading and regulatory constraints, such as position limits and margin requirements, which play significant roles in Chinese market.