如何加强对外资银行的监管

巴塞尔协议体系对银行风险监管的基本规定 1988年7月,巴塞尔委员会颁布的《关于统一国际银行资本衡量和资本标准的协议》（即通常所说的“巴塞尔协议”）,该协议设定了资本充足率。通过对资本充足率的规定,银行业监管机关可以加强对商业银行资本及风险资产的监管,也对衍生工具市场的监管有了量的标准。加上1997年9月颁布的《有效银行监管的核心原则》共同构成对外资银行风险性监管的基本规定。有效银行监管的核心原则》指出监管者应当制定和利用审慎性法规的要求来控制风险,其中包括资本充足率、信贷风险管理、市场风险管理、其他风险管理和内部控制监管等。     

基于固定效应模型的资本充足率对银行绩效的影响探究

巴塞尔协议Ⅲ的提出和我国国内资本监管要求促使我国银行加强资本金的补充,特别是保证符合质量和数量要求的资本充足率,以提高风险抵御能力。资本充足率监管不断加强的同时,我国商业银行的经营绩效不可避免的会受到资本金补充所带来的影响。本文研究在提高资本充足率以保证符合监管当局监管指标的同时,我国商业银行应该怎样提高核心竞争力,提高经营绩效以面临激烈的竞争。     

后金融危机时代我国商业银行资本充足率浅析

银行的资本充足率监管正逐渐发展成为银行监管的核心,特别是在后金融危机时代,作为巴塞尔协议新框架下三大支柱中的第一支柱,资本充足率的重要性更是不言而喻。本文对后金融危机时代我国商业银行资本充足率进行了分析,并提出了相应的应对措施。     

资本充足率对宏观经济的影响分析

随着巴III协议在中国的逐步落地,对商业银行资本充足率的监管要求逐步增强,而商业银行资本充足率的提高,一般会导致信贷紧缩,加重经济的衰退速度,以及金融和经济的不稳定。本文通过构建结构向量自回归(SVAR)模型,运用脉冲相应函数和方差分解方法分析资本充足率对银行信贷规模、GDP增长率、CPI及产业结构等宏观经济指标的影响,并进行稳健性分析。研究认为,资本充足率的冲击对银行贷款规模产生负向影响;对GDP增长率的影响较为迅速,影响时间较长;在长期水平上,能够影响CPI的变动;并对产业结构产生波动性影响。     

资本管理及对中国商业银行的对策建议

中国商业银行在资本管理方面存在着资本补充渠道少、资本充足率不足、资本结构不合理等问题。在2004年6月26日正式颁布的巴塞尔新资本协议框架下,在深入分析监管资本充足率要求和经济资本配置效率要求的基础上,本文提出中国政府、监管当局和商业银行应共同努力,通过股份制改造、增加附属资本、调整资产组合结构、降低税负、提高盈利水平等对策拓宽商业银行的资本补充渠道、优化资本结构、提高资本充足率。     

浅谈商业银行资本充足率与银行监管

随着国际金融体制的改革,国内银行监管机制逐步国际化,商业银行的资本充足率与银行风险及监管关系越来越密切。本文探讨了国际资本的演进情况,并从国内银行分析现在资本充足率、风险管理等金融现状,最后提出风险控制管理的一些政策启示。     

试论金融监管的有效性

自上世纪90年代以来,金融全球化的背景下,金融危机频频爆发,各国越来越重视对本国金融体系的监管,金融监管一般分为结构监管和行为监管。主要手段包括:存款准备金率要求、资本充足率要求和存款保险制度等。目前,各国监管当局对所辖金融机构都普遍实行了固定的最低准备金率、资本充足率、存款保险率标准和最高的资产限制比率,这实际上是一种刚性的监管。下面分别分析以上三种监管手段的有效性:一、对存款准备金率要求作为运用最早的审慎性监管手段,它是指银行必须持有足够的流动性资金,以应付存款者在任何时间可能发生的取款要求,它存在的一个假定前提是不发生存款人挤兑现象。如果银行按规定持有的准备金水平正好足够满足在没有发生挤     

“三性”原则下中国上市商业银行资本结构与绩效关系研究

本文基于商业银行的流动性、盈利性、安全性原则,利用主成分分析法核算了各商业银行综合绩效,同时考察了资本结构对其综合绩效的影响。研究结果表明,国家控股上市商业银行有利于其绩效的提高,而核心及附属资本充足率的提高不仅是商业银行应付资本监管的需要,也是其绩效提高的要求。     

我国上市商业银行风险管理效率的DEA分析——基于2013年银行财务年报数据计算分析

对信用风险的把控是现代商业银行创造盈利的基础,商业银行发展影响我国经济建设稳定发展,如何制定有力的银行风险管理机制,完善监管体系,构建科学的风险管理系统,是商业银行发展的重点。为使银行在信用风险评价方面更为科学合理,本文引入DEA数据包络理论,选取了2013年中国A股上市的十六家国内商业银行的财务数据进行DEA模型计算分析。分析结果中论述了DEA模型所选取的资本充足率、拨备覆盖率、流动性比率对资产充足率和不良贷款率的影响。     

浅议银行业偿付风险管理办法

银行偿付风险是银行风险中非常重要的一个方面,如何管理偿付风险是每个银行管理者和监管者都要面临的重大问题。在技术上,我们有国际通用的《巴塞尔协议》作为指导,然而资本充足率本身不是处处适用的,本文将简要辩证地来分析资本充足率监管办法的利弊,并提出与资本充足率相配套的资产回报率才是所有风险管理方法中的最有效的指标。     

调整焦点对突破式创新产品购买决策影响

随着中国企业自主创新战略的深入,突破式创新及其引发的标准竞争已成为左右中国企业竞争力的重要因素.面对突破式创新产品以及标准竞争,不同调整焦点类型的消费者所表现的购买行为可能存在显著性差异,本研究在对调整焦点量表进行修正的基础上,将被试消费者划分为促进焦点和预防焦点两种类型,在标准竞争和标准统一两种背景条件下,分别对这两组消费者的突破式创新产品购买选择进行差异性检验.实证结果表明,消费者的调整焦点类型对突破式创新产品的购买决策产生显著性影响,并且标准竞争对这一影响过程产生显著的调节效应,该结论将为置身于标准竞争中的中国企业制定有效营销策略提供决策支持.     

股权比例、过度担保与隐蔽掏空——来自我国上市公司对子公司担保的证据

本文借鉴LLSv的掏空模型,模型化推导了控股股东对上市公司的隐蔽掏空模式,建立了控股股东持股比例与掏空程度的分段函数关系.以2004年我国沪深A股上市公司对子公司担保的386起事件为样本,并把样本分为过度担保组和适度担保组,运用事件研究法进行实证检验.发现过度担保样本组累计超额收益率显著为负,而适度担保组的市场反应为正但不显著,由此推测过度担保的上市公司具有向控股股东输送利益的倾向.多元回归结果表明,对于第一大股东持股比例和国家持股比例的回归系数而言,60%均是其有效的临界点.当大股东持股比例低于60%时,大股东存在通过上市公司对子公司担保的方式掏空上市公司的现象,但回归系数不显著;当持股比例高于60%时,则产生了显著的利益协调效应.能有效地抑制掏空.通过分类变量和股权临界变量的多种组合,回归发现,国有性质的上市公司被控股股东掏空程度更高;与第一大股东持股比例变量相比.国家持股比例变量的股权临界值对CAR的影响更加显著.     

Interpreting MSHA Citations Through the Lens of Occupational Health and Safety Management Systems: Investigating Their Impact on Mine Injuries and Illnesses 2003–2010

Since the late 1980s, the U.S. Department of Labor has considered regulating a systems approach to occupational health and safety management. Recently, a health and safety management systems (HSMS) standard has returned to the regulatory agenda of both the Occupational Safety and Health Administration (OSHA) and the Mine Safety and Health Administration (MSHA). Because a mandated standard has implications for both industry and regulating bodies alike, it is imperative to gain a greater understanding of the potential effects that an HSMS regulatory approach can have on establishment‐level injuries and illnesses. Through the lens of MSHA's regulatory framework, we first explore how current enforcement activities align with HSMS elements. Using MSHA data for the years 2003–2010, we then analyze the relationship between various types of enforcement activities (e.g., total number of citations, total penalty amount, and HSMS‐aligned citations) and mine reportable injuries. Our findings show that the reduction in mine reportable injuries predicted by increases in MSHA enforcement ranges from negligible to 18%. The results suggest that the type and focus of the enforcement activity may be more important for accident reduction than the total number of citations issued and the associated penalty amount.     

Recommended Distributions for Exposure Factors Frequently Used in Health Risk Assessment

Although there has been nearly complete agreement in the scientific community that Monte Carlo techniques represent a significant improvement in the exposure assessment process, virtually all state and federal risk assessments still rely on the traditional point estimate approach. One of the rate-determining steps to a timely implementation of Monte Carlo techniques to regulatory decision making is the development of "standard" data distributions that are considered applicable to any setting. For many exposure variables, there is no need to wait any longer to adopt Monte Carlo techniques into regulatory policy since there is a wealth of data from which a robust distribution can be developed and ample evidence to indicate that the variable is not significantly influenced by site-specific conditions. In this paper, we propose several distributions that can be considered standard and customary for most settings. Age-specific distributions for soil ingestion rates, inhalation rates, body weights, skin surface area, tapwater and fish consumption, residential occupancy and occupational tenure, and soil-on-skin adherence were developed. For each distribution offered in this paper, we discuss the adequacy of the database, derivation of the distribution, and applicability of the distribution to various settings and conditions.     

STAKEHOLDERS AND COMPETITIVE ADVANTAGE: THE CASE OF ISO 14001

This paper integrates a stakeholder perspective into the resource‐based view of the firm, to analyze the mechanisms that link the adoption of the international Environmental Management Standard ISO 14001 to firms' competitive advantage. This paper shows that the perceived competitiveness impact of the standard depends mostly on the involvement of firms' external stakeholders (distributors, customers, community members, and regulatory agencies) in its design. ISO 14001 is a process standard, and it is difficult for stakeholders to get credible information on the effectiveness of the standard if they are not involved in its design. Stakeholders' involvement in a firm's ISO 14001 standard becomes a valuable organizational capability, which is difficult to imitate by competitors. The analysis is supported by primary data collected from a questionnaire mailed to 152 firms, resulting in 55 observations representing 30% of the total number of firms certified in the U.S. in August 1998.     

上海股票市场股利政策信息传递效应的实证研究

本文采用累积超额收益法对上海股票市场的股利政策进行实证研究,探讨了沪市股利政策信息传递效应存在性及其特征。实证研究的结论对揭示我国股利政策的信息传递效应和规范发展我国股票市场具有重要的现实意义。     

Knowledge Management Using Information Technology: Determinants of Short‐Term Impact on Firm Value*

The importance of knowledge management (KM) processes for organizational performance is now well recognized. Seeking to better understand the short‐term impact of KM on firm value, this article focuses on public announcements of information technology (IT)‐based KM efforts, and uses cumulative abnormal return (CAR) associated with an announcement as the dependent variable. This article employs a contingency approach, arguing that the KM announcement would have a positive short‐term impact on firm value in some conditions but not in others. Thus, it pursues the following research question: What are the effects of contextual factors on the CAR associated with the announcement of an IT‐based KM effort? Specific hypotheses are proposed based on information‐processing theory, organizational learning theory, the knowledge‐based theory of the firm, and the theory of knowledge creation. These hypotheses link CARs to alignment between industry innovativeness and the KM process, alignment between firm efficiency and the KM process, firm‐specific instability, and firm diversification. The empirical study utilizes secondary data on 89 KM announcements from 1995 to 2002. The results largely support the hypotheses. Overall, this article provides empirical support for the theory‐based arguments, and helps develop a contingency framework of the effectiveness of KM efforts.     

Small Parts Aspiration, Ingestion, and Choking in Small Children: Findings of the Small Parts Research Project

Obtaining information on current child injury trends and their associated issues is an important factor in developing products that meet or surpass acceptable toy safety boundaries. Understanding these boundaries helps determine safe product design characteristics that reduce the risk of product-related injury. Inchcape Testing Services developed a Small Parts Aspiration, Ingestion, and Choking Hazards Research Project, independent of an ongoing consumer Product Safety Commission (CPSC) project. The project's purpose was to determine, independent of CPSC, whether a more stringent small parts regulatory standard was necessary and, if so, to ensure that the standard was determined objectively. This article reports on the project's findings relating to critical characteristics (size, shape, and consistency) relative to the victim's age, of objects responsible for child choking injuries and fatalities.     

内部资本市场价值、形成路径与投资者市场反应

选取中国制造业上市公司作为样本,在计量其内部资本市场价值的基础上,通过通径模型找出内部资本市场价值的形成路径,然后计算年报披露后不同时间窗口的累计超额收益率,分析投资者对内部资本市场价值的市场反应,揭示投资者市场反应机制对内部资本市场行为的治理作用.研究结果表明,上市公司的权益报酬率是决定其内部资本市场价值的最主要因素;权益报酬率与内部资本市场价值之间呈反向关系,内部资本市场价值主要存在于低权益报酬率企业,表明中国上市公司的内部资本市场价值主要源于缓解外部融资约束而引起的溢价,而不是由资源优化配置产生;由于投资者对内部资本市场价值反应不充分,内部资本市场缺乏投资者反应机制的治理,内部资本市场功能异化为弥补资金漏洞的工具.     

The witch doctor's pharmacist

This article explores the state of, and prospects for, training and development within the South African maritime industry, and is based on a series of in-depth interviews conducted with employers, the principal union, training institutions and regulatory bodies. Findings are that a deeply embedded racial division of labour persists, that there is a serious shortage of employment opportunities, and that training and certification remain fragmented. The article concludes that the quality of training provided is of a high standard, but there is a vital need for a coherent overall policy linking initial training with employment opportunities, ongoing skills development and the promotion of greater equality.