抵押风险分析和抵押贷款违约损失率研究

违约损失率是BaselⅡ规定的六大风险指标之一,而抵押是BaselⅡ标准法规定的信用风险缓释工具之一,两者在巴塞尔新资本协议中有着非常关键的地位和作用.本文总结了国内外违约损失率的研究概况,在利用历史数据对我国商业银行抵押贷款的违约损失率进行实证分析后发现：（1）回收率同融资金额成反比;（2）回收率同融资折率成反比;（3）回收率呈“U”型分布.本文的分析有助于进一步探究我国商业银行抵押贷款违约损失率的特征,是量化风险暴露和计算监管资本的基础,并为我们下一步的折率研究做好了铺垫.     

Pricing the risks of default

This paper decomposes default risk into timing and recovery risks. The two default components are explicitly priced as if they were traded in the futures market. We develop estimation strategies evaluating recovery risks and then construct implicit prices of contingent securities reflecting purely the timing risk. The models are estimated on monthly data for rates on certificates of deposit offered by institutions in the Savings and Loan Industry, during the 1987–1991 period. Empirical results support market expectations of lower likelihoods of default after 1989.     

公共危机中的政府协作治理能力——中国省级新冠肺炎疫情防控的文本分析

协作治理,是应对公共危机形成的一种新的治理形式。本文使用文本分析法考察了2020年2月末各省区市政府在本次疫情应对政策中协作治理能力的四种关键机制：促进式顶层领导、开放式参与路径、明确的协作职责、透明信息披露的运用情形及运用效果。研究结果显示,30个省区市都在运用协作治理机制抗击疫情、恢复经济。四种机制的运用存在差异,整体上沿海地区运用协作治理机制更充分。进一步的分析显示政府协作治理机制的运用显著促进了各省份疫情中第三产业的经济恢复水平,原因在于其改善了省级层面经济恢复的市场环境。本文的研究结论表明,强大的政府协作治理机制有助于社会快速有效应对公共危机,也是优化市场环境的政府治理新途径。本文为政府协作治理的机制构成与实际效果提供了重要补充,在公共危机应对的背景下发展了政府治理的理论内容,为公共危机情境下政府职能转变思路提供了参考。     

Tourism Market Recovery in the Maldives After the 2004 Indian Ocean Tsunami

SUMMARY

This paper will use a range of tourism data and a case study to examine the rates of recovery of ten source markets for the Maldives in the wake of the 2004 Indian Ocean tsunami. The market response and recovery rates for these ten markets varied significantly and the reasons for this will be explored. It is evident that a 'one size fits all' marketing strategy will not in itself be sufficient to achieve acceptable rates of recovery following a disaster. The strategies, opportunities and rates of market recovery experienced in the Maldives will provide useful insights for the marketing and monitoring of other destinations that have experienced a crisis or disaster.     

Customers Vote with Their Forks

Abstract

This study examines Consumer Complaint Behavior (CCB) in the restaurant industry. The purpose for this study is twofold: (1) To examine how gender, age, family status, and household income relate to ten common customer complaints: rudeness, lack of product knowledge, slow service, uncleanliness, inattention, forgetfulness, incorrect billing, rushed service, and overly-friendly service; and, (2) to examine the manner in which customers express their complaints. Three types of complaining behavior were considered: verbal, written, and not returning to the restaurant. Analysis of the data resulted in a demographic profile of consumer complaining behavior. Some key findings include: Documented complaints are underrepresented, yet these detailed criticism are far more prevalent than those customers who chose not to express their dissatisfaction with service. Children heighten the expectancy of efficient and quick service. Those who complain are members of upscale socioeconomic groups. Implications for management are discussed, including a recommendation to encourage customer complaints and to immediately react to them.     

Service Recovery Efforts in Fast Food Restaurants to Enhance Repeat Patronage

Abstract

The purpose of this study is to: (a) identify service failure incidents; (b) identify service recovery efforts; and (c) determine the effects of resolution levels repeat patronage. Employee service behavior and monetary rewards were found to have a significant effect on resolution levels. The manager should provide guiding principles to improve service quality. Furthermore, mentoring and empowerment may improve employee service performance. Complete resolution leads to repeat patronage. The study found significant relationships between demographic characteristics with service failures and service recovery efforts. Lastly, there were significant relationships between the critical service failures and service recovery efforts and types of fast food restaurants.     

Service Problems,Service Crises and Service Disasters

ABSTRACT

This paper discusses the need for tourism service organisations to implement effective ways of responding to their clients when a problem occurs in the delivery of a service. Failure to recognise or respond appropriately to a problem when it occurs can cause a crisis which requires more organisational resources and skills to overcome, and if this is not achieved the original problem may result in desertion of the company by its clients, or adverse publicity impacting severely on the company's success. The paper presents a short illustrative case study. The paper suggests that organisations may learn from analysing service problems how to adopt adaptive strategies to minimse the negative consequences of future service failures. It indicates the need for further studies to improve the responsive of organisations to service problems.     

Service Recovery Readiness in Australian Hospitality and Leisure Operations

ABSTRACT

Hospitality and leisure operations across Australia have experienced phenomenal growth over the past few decades. This growth can be attributed to globalisation, deregulation, increased household disposable income, and technological advancements. As organisations continue to strive for a competitive edge, increased attention is given to consistency and reliability of service delivery. However, given the significant human element in the production and consumption of services, mistakes are inevitable (albeit not intentional). Service recovery is therefore a central ingredient in maintaining quality of service delivery. It facilitates customer satisfaction, increases loyalty and repeat patronage, and fosters positive word-of-mouth recommendation. The present paper develops an integrated model of the key concepts of service delivery-illustrating the importance of the relationships among service quality, empowerment, and service recovery. To obtain a better understanding of the importance that organisations place on service recovery, an exploratory study is presented. This consisted of interviews and questionnaires across selected hospitality and leisure operators in Australia. The findings show that service recovery is viewed as an important component of business practices. However, there are noticeable gaps-particularly in relation to organisational readirecovery.     

电费回收的风险与防范措施

电费回收是供电企业经营成果的综合反映,在电力市场的营销过程中,电费的有效回收与管理是电力销售环节中的重要一环,也是电力系统完成生产的最为关键的一个环节,可以说电费回收的好与坏,直接关系到供电企业的经济效益和正常运营,然而用电户拖欠电费的情况也成为目前困扰供电企业经营和发展的重要问题之一,如何有效地回收当期和陈欠电费,降低不良债权,有效防范和化解电费回收风险,是摆在我们面前亟待解决的重要课题。     

Does delaying service-failure resolution ever make sense?

Conventional wisdom suggests that service providers should respond to their failures as quickly as possible. Some research, however, points out that delaying resolutions may produce highly desirable results. The study here investigates these competing views by examining under which conditions an immediate or a delaying resolution produces more positive consumer responses in term of re-patronage and negative word-of-mouth intentions. Based on the concept of service separation, this research identifies an interaction effect between service separation (separated service, non-separated service) and response timing (immediate response, delaying response) on consumers' post-consumption intention. This research also finds that the relationship between service separation-response timing interaction and consumer response is mediated by consumers' negative emotions. This study contributes to refining our understanding of consumer psychology in service recovery. Practically, the studies also enable service providers to better allocate their resources to recover different types of services' failure.