An analysis of the behavior of mature black-owned commercial banks

Accounting and statistical techniques are used to compare the behavior of a sample of mature black-owned banks with that of a matched set of nonminority-owned banks. The black banks are generally less profitable. The major reasons for this lower profitability include more liquid asset portfolios at the black banks, higher operating costs on liabilities, and higher rates of loan loss. Higher loan loss rates appear to be the single most important factor, with losses on real estate and possibly commercial and industrial loans probably being the most serious continuing sources of loan losses.     

我国企业应对中美“337争端”的策略研究

自中国加入WTO以来,中美在知识产权领域的贸易摩擦时有发生。美国以保护本国知识产权权利人的利益为由,屡次对我国出口美国的产品发起“337调查”。从案件的数量、规模及持续时间来看,我国已经成为美国“337调查”的主要对象国之一。根本原因在于中羡贸易严重不平衡,美国想要利用新的贸易保护主义扭转其国际贸易中的劣势。我国出口企业应该努力发展自主知识产权,涉案时要积极、及时应对,维护自身的正当利益。     

Bank holding company affiliation and contracyclical lending by mortgage bankers

Bank holding companies have made significant inroads into the mortgage banking industry, primarily by acquisition. Federal Reserve Board approval of acquisitions is contingent upon the expectation of net public benefits. This study analyzes one of the benefits that BHCs claim will arise from acquisition of mortgage bankers—the flow of funds into housing will become more cyclically stable. Test results on a 33-firm sample of independent and BHC-affiliated mortgage bankers for 1973–1975 provide little support for this claimed public benefit.     

多维视野中的美国337 调查及其应对策略研究

从法律规则视野出发,美国337调查保护知识产权的立法目的具有一定的合理性,在技术层面具有表面的合规性和可司法性,但从贸易政策视野出发对337条款发展历史,特别是337条款调查与历次危机中的美国政府经济政策间关系的宏观分析充分揭露了该条款贸易保护主义的本质。对337条款本质的多维认知有助于指导我国政府、主管机关和企业从不同层面采取综合措施有效应对337条款调查。     

The competitive consequences of hub dominance: A case study

Hub-and-spoke has become the predominant configuration of airline routes, with individual hubs typically dominated by single carriers. These operations have characteristics of natural monopoly; but dominance is a consequence also of advantages that cannot be subsumed under the rubric of superior efficiency. The carrier with the strongest presence attracts a grossly disproportionate amount of traffic and, secondarily, of the high fare-paying traffic originating at the hub. While the welfare consequences of the consequent price discrimination are ambiguous, United's acquisition of 50 additional slots at the slot-constrained O'Hare airport raised a legitimate Clayton Act Section 7 issue.Robert Julius Thorne Professor of Political Economy, Emeritus, Cornell University; Special Consultant, National Economic Research Associates, Inc. I acknowledge with gratitude the indispensable assistance of Gary J. Dorman in assembling the data presented here and offering criticisms, and of Scott Thomas. They bear no necessary responsibility, however, for the article itself.     

新疆财政预决算偏离度问题研究

随着人们对财政预决算偏离度问题关注的增加,研究由此引发的对政府事权、财权、管理效率的思考就具有重要意义。近12年来,新疆财政预决算偏离度呈现增大趋势,本文对其现状及产生的原因进行了分析,并提出了相应的对策建议。     

江苏企业遭遇337条款调查的情况及其应对策略

337条款调查是美国关税法中一种具有一定隐蔽性的贸易救济措施。目前,我国已经成为美国国际贸易委员会337条款调查的主要产品来源国。江苏省作为外贸大省,本省企业遭遇337条款调查的数量位居全国前列。在应对337条款调查中,江苏省企业既有失败的教训,也有成功的经验。政府、行业协会和企业应当在总结以往实践的基础上研析最佳的应对策略。     

The disappearing budget constraint on EU agricultural policy

Concern over budgetary costs has been the traditional driving force behind changes to the EU's Common Agricultural Policy. While the recent MacSharry reform of this policy was more related to external pressures arising from the need to reach an agreement on agriculture in the GATT Uruguay Round, many expect the budgetary constraint to re-emerge towards the end of this decade, particularly in the light of the impending accession of a number of Central and Eastern European countries (CEECs). This paper argues that it is unlikely that there will be any budgetary need to further reform Europe's agricultural policy to accommodate the CEECs. Applying the agricultural guideline to estimate resources and using a simple forecasting model of FEOGA Guarantee budget expenditure, the paper demonstrates that, under a range of plausible assumptions for the key variables affecting resources and expenditure, a significant positive margin should emerge between available resources and the cost of EU agricultural policy by the beginning of the next decade. This margin should be sufficient to pay the estimated costs of extending the present CAP to the CEEC countries without further significant reform. However, even though the budget cinstraint on EU farm policy may disappear, other factors, such as GATT disciplines and concern about agriculture's impact on the environment, will remain as pressures for further CAP reform.     

SOA404条款的实施与启示

自从2003年6月SEC宣布正式实施SOA法案以来,404条款一直饱受争议,原因主要在于其巨额的实施成本。为了应对这些问题,SEC也不断采取措施,进行调整。建立健全内部控制已是大势所趋,实施的关键是降低成本。现阶段,我国内部控制体系建设仍应以内部控制标准体系建设和内部控制评价制度建设为主,实施中应“统一管理、分步推进、细化分类标准、设定强制执行门槛”,同时应加强有关人员的相关培训。     

Size and rank stability of the 100 largest commercial banks, 1925–1978

Although the importance and rank stability of the 100 or 200 largest industrial corporations has been the subject of several studies, no comparable studies have been conducted in banking. Questions about the position and role of the 100 largest banks are beginning to emerge as a result of the 1980 thrift institution legislation and the prospect of interstate banking in the not too distant future. Data constructed for this study reveal that 1) concentration of deposits in the 100 largest banks increased from 33.7 percent in 1925 to 51.4 percent in 1978, 2) the pattern of change and the absolute level of concentration are remarkably similar for the 100 largest industrials, 3) deposits have become increasingly concentrated within the top 100 banks, 4) mobility and turnover have been relatively stable since 1925, 5) merger activity is partly responsible for the increased concentration and observed mobility and turnover, and 6) there has been a notable increase in the geographical dispersion of banks among the top 100.