Banking Competition and Capital Ratios

Empirical studies provide evidence that bank capital ratios exceed regulatory requirements. But why do banks maintain capital levels above regulatory requirements? We use data for more than 2,600 banks from 10 European countries to test recent theories suggesting that competition incentivises banks to maintain higher capital ratios. These theories also predict that banks that engage in arm's length lending have lower capital ratios, and that shareholder rights and deposit insurance characteristics affect capital ratios. Consistent with these theories, our evidence robustly indicates that competition increases capital holdings. Banks that lend at arm's length exhibit lower capital ratios, whereas banks in countries with strong shareholder rights operate with higher capital ratios. We also show some evidence that generous deposit protection schemes that exclude non‐deposit creditors are associated with higher capital ratios. Our results have important policy implications. First, while the traditional view suggests imposing restrictions on bank activities in order to restrain competition, our analysis indicates the opposite, even after adjusting the regressions for risk‐taking. Second, weak shareholder rights undermine market forces that would otherwise encourage banks to hold higher capital ratios.     

非法吸收公众存款罪与民间融资

近年来的司法实践,对非法吸收公众存款罪的认定有扩大化倾向。许多个案不考虑融资的目的是否为企业自身发展,不考虑是否造成损害后果、是否具有侵占、诈骗的故意等特征,抹煞非法吸收公众存款犯罪与合法的民间借贷的区别。这一扩大化的倾向与加入世贸后打破金融垄断、鼓励金融市场竞争、民间金融逐步合法化的趋势是背道而驰的,所以有必要对非法吸收公众存款罪与民间融资加以区分。     

论某铁矿不同勘探网度所探求的储量级别

本文依地质统计学的基本原理,在研究某铁矿矿体数学特征和估计其储量误差的基础上,定量地确定了该铁矿不同勘探网度所探求的储量级别。     

Suspension of Convertibility versus Deposit Insurance: A Welfare Comparison

This paper introduces risk-averse preferences in Chariand Jagannathan (1988). A first motivation for thisextension is to give a positive role for a financial intermediaryin the economy, who offers risk-sharing contracts to liquidityseeking individuals. In this framework, both information-inducedan pure panic runs will occur. The second motivation is tocomplete Chari and Jagannathan's welfare analysis by comparingsuspension of convertibility and deposit insurance, given theirrelative benefits and costs (of randomization in meeting liquidityneeds or deadweight taxation). It is shown that the choice betweenthe two contracts depends on the level of risk aversion, theintertemporal discount factor and the attributes about theunderlying technology.     

事业部制的发生学探析

从发生学的视角探究事业部制组织结构的产生基础,分析得出:管理是实践的产物:管理是政治的微观应用;管理是文化的产物.对于事业部制的深层次理解有助于中国企业深刻理解并融会贯通的运用这种管理体制.     

事业部制的发生学探析

从发生学的视角探究事业部制组织结构的产生基础，分析得出：管理是实践的产物；管理是政治的微观应用；管理是文化的产物。对于事业部制的深层次理解有助于中国企业深刻理解并融会贯通的运用这种管理体制。     

我国矿床地学研究存在的一些软科学问题及解决办法——以内蒙古自治区白云鄂博稀土、铁、铌共生矿床地学研究为例

我国地质研究存在的一些诸如研究体制、投资、目标体系、技术复杂性与研究管理等方面的问题:委托方与科研投资体制的不顺;矿床地学研究项目技术经济研究的不足;矿床地学研究存在的战略问题等.针对这些问题简要进行分析,认为科研体制与资源禀赋是制约我国矿床地学研究的首要因素,总结提出了8类矿床地学软科学研究课题及几点建议.     

2011年1月国内金融形势评述

2011年1月份,国内金融体系保持平稳运行,货币信贷继续向常态回归。主要特点是：广义货币M2和狭义货币M1增速双双回落,现金投放正常;贷款增量少于上年同期,中长期贷款少增较多;春节因素致使企业存款和储蓄存款增速呈现为＂一升一降＂态势;银行间市场交易保持活跃,市场利率明显上升;与上年末比,人民币汇率升值0.51%,海外市场对人民币升值预期明显减弱。     

同业存放与同业拆借业务的比较分析与改进建议

作为货币市场业务的重要组成部分,长期以来同业存放与同业拆借都是金融机构实现资金融通与往来的重要形式。文章通过总结当前两类业务的发展现状与问题,比较分析两类业务在会计核算、操作流程、定价机制等方面的异同点,提出了共同优化这两类业务发展的若干改进建议。     

2010年国内金融形势评述

2010年,金融体系总体保持平稳运行,货币条件由＂反危机＂状态逐步向常态回归。主要特点是：广义货币M2和狭义货币M1增速明显低于上年水平;贷款投放较为适度,投资项目资金得到有效保障;企业存款增速高位回落,储蓄存款增速由降转升,活期化倾向明显增强;银行间市场交易活跃,市场利率低位回升;人民币汇率弹性明显增强。