我国金融产业集聚面临的若干问题探讨

在世界金融危机背景下,如何走我国金融产业集聚之路是一个非常值得探讨的问题。本文在国内外背景分析的基础上,探讨金融产业集聚面临的若干问题。     

What explains corporate sukuk primary market spreads?

This study investigates the determining factors of international corporate sukuk pricing in the primary market for the period of 2004–2015. We present novel evidence for a unique data set covering all 63 international corporate sukuk issuances consisting of both a fixed margin rating as well a credit rating score. Our cross-sectional analysis indicates that both credit rating and maturity are significant factors which reduce issue spreads, whereas sukuk margin rating increases issue spreads. More prominently, Shari’ah scholar reputation and the type of sukuk are not statistically significant factors in the explanation of the issue spread. Our results are comparable with determinants of conventional bond pricing, and our findings further confirm existing sukuk market practices.     

铜仁地区货币发行预测模型构建研究

构建起人民银行货币发行的投放、回笼预测模型,对于开展人民银行货币发行工作具有现实的指导意义。本文基于铜仁市十年来每月的货币发行投放、回笼数据,考虑到铜仁地区经济发展和货币发行特点,综合运用回归模型、时间序列ARIMA模型和结构时间序列分析模型,运用趋势分量与自然时间进行回归,参考季节分量和不规则分量对时间序列变化的影响进行分析,构建铜仁地区货币投放、回笼函数分析模型。基于这个预测模型,合理安排铜仁地区的发行基金投放、回笼。     

Organizational Factors Encouraging Ethical Decision Making: An Exploration into the Case of an Exemplar

What factors in the organizational culture of an ethically exemplary corporation are responsible for encouraging ethical decision making? This question was analyzed through an exploratory case study of a top pharmaceutical company that is a global leader in ethics. The participating organization is renowned in public opinion polls of ethics, credibility, and trust. This research explored organizational culture, communication in issues management and public relations, management theory, and deontological or utilitarian moral philosophy as factors that might encourage ethical analysis. Our understanding of organiza tional ethics is enhanced by elucidating factors the case revealed as encouraging ethical analysisan organizational culture that emphasizes the importance of ethics, Theory Y management, a symmetrical worldview valuing innovation and dialogue, a counseling role for issues management or public relations in the dominant coalition, rewarding ethical behavior, ethical analysis using moral philosophy, consistency between individual values and organizational philosophy, and ethics training. These factors, and perhaps others as yet unidentified, worked together to create an environment that encouraged ethical decision making at the exemplar organization.     

常州市企业债券发行特点及经验借鉴

常州市是发行企业债券成绩显著的城市之一,本文对其企业债券发行的担保方式、发行规模和发行主体等方面的特点和经验做法进行总结,以期为其他城市发行企业债券提供参考。     

商业性个人住房抵押贷款的银行债权保护

1992年,中国建设银行首次发放了个人住房抵押贷款。从此,商业银行为自己找到了一个优良的贷款方向。但是个人住房抵押贷款期限一般都比较长,这就致使风险的暴露需要一个缓慢的过程。因此,个人住房抵押贷款的风险问题已经成为金融机构关注的焦点,同时也成为理论界研究和讨论的热点问题之一。基于以上背景,在对个人住房抵押贷款市场中的各种风险进行透彻分析和对我国的具体国情进行详细考究的基础上,本文有针对性地提出了一些银行债权保护的具体方法。     

品牌关系理论研究述评:视角、主题和核心观点

文章以全球品牌关系相关文献为分析对象,系统回顾了国内外对品牌关系领域的主要研究成果,将研究文献的视角归纳为关系主体研究视角、关系流程研究视角、关系规则研究视角,在三个研究视角的统筹下,总结了研究主题和核心观点:品牌关系概念主题、品牌关系测量主题、品牌关系动态发展主题、品牌关系型态主题、品牌关系与其他品牌模型关系主题,并在此基础上指出了未来的研究方向。     

商业银行在信用证纠纷中的法律问题

近年来,我国商业银行因开立信用证引发的纠纷越来越多,涉及的法律问题越来越复杂。从法院审理的信用证纠纷案件结果看,有相当一部分是以开证银行败诉告终,商业银行为此付出沉重的代价。因此,信用证纠纷的法律问题研究对于保护商业银行合法权益、防范信用证风险具有重要意义。     

It pays to be ignorant: A simple political economy of rigorous program evaluation

This paper attempts to explain the scarcity of rigorous evaluations of public policy. I build a positive model to explain the "stylized fact" that there is under investment in the creation of reliable empirical knowledge about the impacts of public sector actions. The model shows how "advocates" of particular issues or solutions - the public action equivalent of entrepreneurs - have incentives to under invest in knowledge creation because having credible estimates of the impact of their preferred program may undermine their ability to mobilize political (budgetary) support.     

配股后业绩下滑与真实活动盈余管理的相关性研究

本文以我国1997-2009年成功实施配股的549家A股上市公司为样本,从真实活动盈余管理的角度,实证检验了公司为达到证监会的配股资格线,是否进行了盈余管理,以及此行为对公司配股后的经营业绩所产生的影响。研究结果表明,上市公司在配股前确实进行了真实活动盈余管理,且此行为与公司配股后的业绩显著负相关。