Transparency and accountability influences of regulation on risk control: the case of a Swedish bank

Journal of Management and Governance - This qualitative in-depth case study explores the influence of financial regulation on risk control within Banque de Montagne, a large listed bank in Sweden....     

风险投资的风险评价与控制

本文对风险投资的风险因素进行了系统分析,建立了风险投资风险评价指标体系;在此基础上探讨了风险投资风险的综合评价与最优控制问题,首次提出了一种适合风险投资特点、具备分指标评价、综合评价与优化控制多种功能的模型技术方法。     

Blood bank information and control system

The design and implementation of a minicomputer blood bank information system is presented. It supports inventory control and provides statistics also allowing for optimal management decisions. Test runs in the Nuremberg General Hospital showed its time-saving effects. Outdating and shortage figures were reduced. The users' attitudes towards the system were explored; results were used to facilitate implementation difficulties.     

Reducing exposure to exchange rate risk: A case study

During the last decade, with the advent of large fluctuations in the values of currencies, business managers came to realize that effective international financial management could be a major contributor to a firm's profitability. This same period showed aggressive marketing by U.S. firms in foreign markets. The resulting expansions have led to requirements for increased knowledge concerning foreign consumer behavior, pricing procedures and trade regulations. In addition, transactions with foreign customers have resulted in a more complex cash management environment. The firms may desire all payments received to be denominated in U.S. dollars, but such a policy could result in reduced exports if potential foreign importers wished to make payment in their own currency. Consequently, the U.S. firms should accomodate importers' desires and then implement a strategy to deal with the exchange rate risk. This paper develops such a strategy and illustrates how the strategy can be applied to a realistic case.     

Managing exposure of direct foreign investment to political risk: The case of food businesses in China

Direct foreign investment (DFI) allows a multinational corporation (MNC) to generate and appropriate extra-normal profits from its unique assets in a foreign market. China has become increasingly attractive for foreign investment over the past 20 years. This entails political risk, but MNCs can reduce the risk by relying heavily on MNC-specific assets, often in the form of tacit knowledge. A joint venture with a local partner creates an incentive for a local stakeholder to shield the DFI from political risks and allows the partner to contribute location-specific assets to the venture, further reducing the MNC's risk.     

银行信用组合风险多成分重要性抽样算法研究

银行信用组合违约风险的度量和计算对银行监管有着重要的意义.使蒙特卡洛研究信用组合违约概率时,为提高模拟效率,越来越多的学者采用了重要性抽样技术来实现.它主要通过条件独立性和“均值移动”两个步骤实现.本文基于前人研究结果的基础之上,提出了一种基于违约相关性矩阵的多因子变方差的重要性抽样算法.该算法通过主成分分析选择违约结构中的占优成分并扩大其方差来实现.数值算例证明了该方法在信用组合遭遇极值事件时,能够提高模拟效率及计算精度,具有一定的计算优势.     

商业银行信用风险评估预测模型研究

依据商业银行信用风险的内涵,指出信用风险评估应当充分考虑信贷资金安全系数的不 确定性和信用风险的相对性特征,并以“信用风险度”作为系统的输出,构建了基于人工神经网 络的信用风险评估预测模型,为有效转变信用风险的分类评估模式,提供更为全面的信贷决策 支持奠定了基础.     

Effect of detection methods on risk estimates of exposure to biosolids-associated human enteric viruses

This study illustrates the effect of virus detection methods on estimates of risks of infection of biosolids-associated viruses for occupational workers and residential population during a hypothetical exposure of biosolids. Five gastroenteritis-associated human enteric viruses--enteroviruses (echovirus-12, enteroviruse types 68-71), adenoviruses, rotaviruses, and noroviruses genotype--I-were considered to represent human enteric viruses for risk estimation purposes. Ingested viral doses were calculated using literature-reported total infectious virus concentrations (based on BGM and A549 cell lines) and genome copies (GCs) in Michigan dewatered and class B biosolids. Cell-line-based infectivity parameters (i.e., ratio of total infectious virus concentration to GCs) were developed for different viruses in biosolids to use GCs for calculating ingested viral dose, addressing the issue of integration of molecular methods with biosolids-based virus risk assessment. Use of virus concentrations from molecular methods (with and without using cell-line-based infectivity parameter) resulted in higher risk estimates than culture methods, indicating the effect of the virus detection method on risk estimates. Further, use of virus concentrations from A549 cell lines resulted in higher risk estimates compared to those from BGM cell lines, suggesting the need for a proper choice of cell lines in determining infectious viral dose. The Monte Carlo uncertainty analyses of estimates for risk of infection due to enteroviruses showed that enteroviruses concentration was the most important parameter influencing risk estimates, indicating the need for reducing associated uncertainty. More work is required to develop cell-line-based infectivity parameters for different virus concentration levels and sample matrix types using a cut-off-based approach.     

The current practice of bank long-range planning

This paper reports on a recent survey of long-range planning practices in 105 large United States banks. The survey results indicate that long range planning is a relatively new corporate activity with more than half the respondents initiating long range planning the last 5 years. To the extent these banks lead others, this finding suggests greater adoption of long range planning systems in small and medium size banks in the future. Profitability and growth goals are the primary goals quantified in the planning process. These goals are pursued via various strategies. Profit goals are typically pursued by improving pricing policies, adjusting mix and maturity of assets and liabilities to minimize adverse effects of interest rate fluctuations, managing spreads through proper loan pricing and bond portfolio management and tightening cost control with a particular emphasis on non-interest expense. Growth goals are achieved by branch expansion, use of bank holding companies, and increased market penetration through product diversification and sales training programmes designed to develop new business. In addition, information is presented on trends that appear to be developing in the area of long-range planning in the banking industry.     

基于电子市场中介的交易风险控制

电子市场中介实施控制可以有效地降低电子商务中的交易风险.在讨论客观风险、估计风险、交易者风险偏好及风险控制相互之间关系的基础上,设计了电子市场中介的交易风险控制机制,构建了控制水平选择的决策模型,讨论了模型最优解的存在性,进而分析了交易者平均风险偏好一定和变化情况下的最优控制策略.分析结果有助于电子市场中介的交易风险控制决策.     

基于贷款风险损失比的农户信贷模型与应用

在农户信用评级基础上,研究基于银行贷款风险损失比的农户信用贷款决策模型以及银行相应的信用贷款利率机制.通过以农户个体合理性和银行最大可接受的贷款风险损失比作为约束条件,分别在农户项目成功概率对银行期望收益的影响以及农户项目成功概率同时对银行期望收益和农户期望收益都产生影响两种不同情形的假设下,建立了相应的农户信用贷款决策模型,给出了两种不同的银行最优贷款利率机制.本文还举出实例,针对5级分类中农户不同的信用等级以及相应所获得的银行贷款授信,设计了4组不同的组合数据,分别在贷款申请金额、农户自有财富、银行最大可接受的贷款损失比以及农户项目期望收益率发生不同的变化时,农户最优项目成功概率以及银行最优贷款利率发生的变化.讨论了在银行不同的贷款利率下农户项目净期望收益率的变化以及农户项目期望收益率的合理区间.     

外资银行与中资银行的战略合作决策研究

允许外资银行以少数股权形式与中资银行战略合作是中国银行业开放和中资银行改革的一个重要举措.在此背景下,考虑外资银行与本地引资银行之一战略合作以及未来控股本地引资银行的可能性,基于委托代理理论,构建控股决策的实物期权模型和少数股权合作决策模型,研究了外资银行与引资银行合作决策的交互行为.结果表明:1)未来控股引资银行的可能性是外资银行积极参与本地银行合作的更重要原因;2)现有少数股权合作机制和未来控股的可能性都难以激励外资银行有效贡献努力水平;3)为促进外资银行提高努力水平,引资银行应在少数股权合作机制中加入约束条款,相对于约束条款中的高约束指标,低约束指标更能促进外资银行贡献高努力水平.     

The survival strategy of a small local cooperative bank

The research on the strategic problems of the firm operates with concepts wich refer to markets, products, resources, and organization of the firm. This approach which concentrated on the economic aspects of the behaviour of the firm may in some cases ignore vital points especially with reference to the strategy of small firms.This article analyses the strategy of the Lannevesi Cooperative Bank. This small bank has been able to survive in a world, where concentration in the banking industry has been rapid. The bank has survived due to its strategy. This strategy may be given a meaningful interpretation in the framework of the theories of Parsons and Smelser (1956). In the miniature society of the village the bank operates in the economy and polity sub-systems as banks do in a modern specialized society. The unique feature in the strategy of the bank, which cannot be analyzed just in economic terms is its operation as an active agent in the integrative and pattern maintenance sub-systems of the village society. Solidarity and cohesion in the village are essential to the survival of the bank.     

Short-term foreign exchange risk management: Zero net exposure models

By balancing the relevant end of period assets and liabilities (i.e. a zero net exposure approach to foreign exchange risk management) the multinational corporate treasurer can, conservatively, protect against parity fluctuations without requiring exchange rate forecasts. This paper presents two goal programming formulations for short-term money management and evaluates the resulting strategies (via simulation) in terms of their impact on corporate profits. A hypothetical multinational corporation with headquarters in the US and subsidiaries in Canada, West Germany, and the United Kingdom serves as the experimental unit. The results suggest that the zero net exposure approach is no better than a naive ‘dart-throwing’ approach.     

Marketing segmentation research—An application to bank services

The research reported here analyses data relating to bank services obtained by a stratified random sampling technique using stepwise linear regression and canonical correlation for the purpose of illustrating the application of segmentation principles to marketing research.     

A non-queueing model to predict teller requirements in retail bank branches

Two models are developed in this paper to determine optimum teller scheduling at bank branches. The first is a parametric model consisting of three phases: predicting the aggregate number of transactions for the bank based on the factors influencing customer demand and arrival rates; determining the percent of the aggregate transactions volume performed at each retail branch based on customer profiles and branch locations; formulating a transaction sensitive teller staffing model for each retail branch based upon predetermined customer service time and personnel utilization criteria. The second model is an integer programming model to determine the optimum teller staffing requirements based on the results of the first model and constrained by traditional current banking practices.     

Assessment of human exposure to gaseous pollutants

A mathematical model to aid in assessment of human environmental exposure to volatile organic substances is presented. The model simulates the convective and diffusive transport of gas from the ambient environment into the human body by way of the respiratory and circulatory systems. Data required include easily obtained physical and chemical properties of substances as well as several estimated or measured physiological parameters. Transient and steady-state tissue concentrations resulting from an input atmospheric partial pressure are predicted. From these concentrations, an effective dose may be calculated, allowing for the determination of an exposure-response relationship based upon independently obtained dose-response data. The model's results compare favorably to experimental data on oxygen and halothane. Steady-state conditions are reached very rapidly. These results suggest that uptake of these substances is limited by both ventilation and perfusion. rates are demonstrated to be essentially linear within the current neighborhoods. Conditions in which the primary processes of ventilation, diffusion, perfusion, and elimination limit uptake of gases are considered. Expressions describing the conditions necessary for a single process to limit gas uptake are derived. Accompanying equations for estimating tissue concentrations under these limiting conditions are presented.     

虚拟企业中的风险管理与控制研究

作为一种能够高质量、低成本、快速导入产品的解决方案 (尤其对于制造业而言 ) ,虚拟企业正越来越多地引起人们的广泛兴趣 .但是 ,虚拟企业在帮助企业获得反应灵活性的同时 ,也不可避免地蕴涵了诸多风险因素 .基于此 ,本文首先探讨利用动态合同和增加信任以规避风险 .进一步地 ,提出了一种风险传递算法 ,并以工期风险为例 ,给出了利用该算法实现风险评价、风险瓶颈识别、风险调整和优化的方法和模型 .最后 ,提出了一个基于 Web的风险核对表设计和发布框架 ,以实现虚拟企业中的风险监控