从“信贷悖论”谈商业银行信贷资产的信用风险管理

摘要：从商业银行信用风险管理过程中引发的“信贷悖论”出发,基于信用风险抑制论和信用风险转移论的视角,比较、分析信用风险管理的方法与工具,阐述信贷资产转让交易、信贷资产证券化和信用衍生品三种交易模式,并从信用风险转移视角,说明我国商业银行信用风险管理发展情况并提出有关建议。     

Professor Ronald W. Jones and his influence on Asia Pacific economics

Professor Ronald W. Jones is one of the greatest general equilibrium theorists, who has illustrated the economic force underlying a general equilibrium adjustment in a very elegant manner. With his friendly personality, at the same time, he has made an enormous contribution to Asian Pacific economic research and the formation of a strong network of economists in our region. This essay intends to explain what I think of as the essence of his economics and his contributions to Asia Pacific economics.     

制造企业服务化转型：服务化悖论归因与平台化策略

服务化悖论是制造企业实施服务化转型战略的主要障碍。从外部驱动因素和内部保障机制两个方面分析制造企业服务化的价值创造机理,认为服务化悖论归因于转型过程中存在供需认知错位、企业资源稀缺、组织结构刚性和组织管理惰性等现实问题。在“互联网+”背景下,平台化策略成为解决制造企业服务化悖论的有效手段,通过供给侧平台整合资源能力、需求侧平台聚集市场需求,以及混合式平台打造生态系统,核心制造企业、产品/服务要素提供商、潜在利益相关者和客户之间可依托平台机制相互协同,实现价值共创,从而提升服务化转型的价值创造空间,促进服务化转型成功。     

增长模式、就业排斥与“奥肯悖论”

"奥肯定律"是经济学最可靠的定律之一,但在中国却出现了"奥肯悖论",即经济增长与就业增长不平衡,增长模式出现了"就业排斥",这造成了增长结果并非是公平、合理增进全社会成员福利的。而破解"奥肯悖论"的根本策略应是建设"就业友好型"的增长模式,应制定和执行独立的就业促进政策,鼓励中小企业、第三产业和非正规就业。     

Entry mode diversity and closing commercial deals with international customers: The moderating role of advanced servitization

As the importance of servitization and service-augmented solution delivery grows into a mainstream phenomenon for manufacturers, offering theoretically founded avenues to solve their specific internationalization challenges is necessary. The study addresses the internationalization paradox faced by servitized manufacturers generated by the specific hybrid nature of their product-service offering. As such, this research is meant to understand the entry mode diversity for the internationalization of advanced servitization providers. Our primary research deal-level data follows 1885 potential sales negotiations for servitized products closed in 2018 by a Poland-based multinational high-tech optics firm offering product-service systems. The results of the study support the idea that manufacturers of advanced servitization could benefit from the implementation of entry mode diversity. It is found that the sales deal success when entry mode diversity is implemented in a foreign market is positively moderated when knowledge-intensive advanced servitization is included in the negotiation.     

大数据驱动下制造企业服务化战略:基于“服务悖论”克服的视角

“服务悖论”的存在一直是制约制造企业服务化转型的主要障碍。服务化过程中的组织创新跟不上服务化战略的要求是造成“服务悖论”主要成因。大数据的兴起不仅为新时期制造企业服务化转型提供了新的驱动力量,大数据价值创造的新特征也为缓解和克服“服务悖论”提供了具体的路径与机制,包括：基于大数据进行顾客需求挖掘开发促进服务化产品设计的创新;关键流程数据化以及多流整合推动组织结构与流程的重组;高速数据信息的流动共享加快管理模式与服务文化的转型,以及资产虚拟化大数据共享实现制造服务供应链资源的集成与协同管理等。在此基础上,可初步建立大数据驱动制造企业服务化转型的一个简单战略框架模型。     

盈余信息相关性悖论

悖论分为两个层次：逻辑不一致和信号选择偏误。盈余信息满足以下条件时具有相关性：（1）合理地诠释了经济利润;（2）符合各契约主体的信息要求。盈余信息满足条件（1）时,具有基础相关性;盈余信息满足条件（2）时,具有博弈相关性;同时满足两个条件时,盈余信息具备完备的相关性。提出了博弈相关性的两种形式：显式相关性和隐式相关性。引入显式相关性和隐式相关性后,解决了相关性的逻辑不一致,完善了盈余信息相关性理论。     

论幸福悖论的成因与启示

从幸福与收入的关系来看,幸福悖论的成因是:达到临界收入后,收入的功能目的(必然性)向手段(可能性)的转换、收入边际效用递减与收入的负外部性凸显以致人们对收入的公平性和可持续性等需要递增、个人自我实现与带来收入的工作的偏离等导致幸福悖论。揭开幸福悖论的面纱,可以清楚地看到,我国现阶段只有大力发展经济,同时克服经济发展的负外部性,重建公共家园,即关注民生、创造社会财富,把社会进步与个人自我实现有机地结合起来,实现幸福的帕累托最优,才能真正踏上幸福经济之路。     

3-2-1 bungy: A typology of performance styles

Understanding how people express themselves in everyday acts has been well examined since Goffman’s (1959) seminal piece. His work laid the foundation for understanding performance and is used as the cornerstone for an established body of research concerning social performance in tourism (Coleman & Crang, 2002; Doorne & Ateljevic, 2005; Edensor, 2000; Haldrup & Larsen, 2009; Ness, 2007; Picarda & Zuevb, 2014). The context of bungy-jumping affords a rich resource to unpack the construction of performance styles due to the inherent contradiction of being simultaneously at risk and safe. Thus we develop a typology of performance styles where each proposed style becomes a function of the performer’s interaction with the audience and the performer’s belief in the adventure paradox.     

Coalition-enhancing fiscal policies in an open economy: A CES framework of Gale’s transfer paradox

The motivation of our paper comes from David Gale’s seminal work in 1974. He constructed an example of the “transfer paradox” based on three Leontief functions. The transfer paradox is that when there is a set of agents in the home country and that the home country is trading with other countries, then certain public lump-sum tax transfer plans could make all agents in the home country better off. Our contributions are as follows. First, we show that such an example can be constructed with three smooth CES utility functions. Second, we establish the three crucial conditions for the existence of the transfer paradox: (1) the donor (a taxpayer) has stronger preference for the foreign good than the recipient; (2) the donor is ex-ante wealthier than the recipient; (3) the elasticity of substitution of the foreign country’s preference is strictly less than one.