龙困浅滩图——国有企业主体地位面临严峻挑战

我国的国有企业是通过改造(赎买、公私合营)民族资本,没收官僚资本以及国家投资兴建新企业等方式建立起来的。国有企业作为国民经济的主体为国家做出了辉煌的成就。到1992年,50万个国有企业拥有固定13000亿元。 党的十一届三中全会以来,先后在国有企业推行了扩大企业自主权,利改税、实行承包经营责任制等改革措施。国有企业有了进一步的发展。但是,也出现了严重的问题。     

国有企业人力资源管理存在的问题及对策

在新形势下国有企业在其发展中遇到了前所未有的问题,如融资困难、信用不足、人才匮乏等,从而使得国有企业不得不进行一系列的改革来适应经济时代的发展。而从目前情况来看,国有企业的人力资源管理不完善是严重制约企业发展的一个重大问题,此问题严重阻碍了国有企业的进一步发展。因此,如何加强和完善国有企业人力资源管理是当前我国国有企业在发展过程中亟待解决的问题。人力资源战略应同企业竞争战略相一致,提高国有企业领导的素质,员工培训是国有企业解决人才需求不足的重要途径。     

对国有企业经营者风险及其控制的探讨

由于我国国有企业所有者的缺位及其所导致的内部人控制现象,造成国有企业的经营者"权力"膨胀,使国家利益、职工利益等受到严重侵害,这就必须研究国有企业经营者风险及其控制问题.本文首先阐述了经营者风险及其具体表现形式,其次分析说明了经营者风险产生的原因,再次从会计、财务的角度,探讨了国有企业经营者风险控制的有效途径.     

完善我国国有企业改制的对策研究

近几年我国国有企业改制步伐加快,但实际操作中却存在着“自买自卖”、审计评估不实、低估贱卖、“暗箱操作”等诸多问题。出现这些问题,既有认识原因,如轻视改制的复杂性和专业性,以“运动”方式推进企业改制;也有国家(地方)政策不系统配套、指导作用有限的原因;更有深层次的政治和经济利益问题。借鉴西方国家国有企业的改革经验,对国有企业实行分类管理,加快建立现代企业制度,切实提高企业竞争能力,创造良好的法制环境,坚持以发展促进“国有企业改制”,坚持以人为本推动国有企业改制,进一步完善优化有关改制及配套政策。     

国有企业改革的方向与对策

随着中国经济体制改革的日渐发展,国有企业固有的一些制度与经济改革的不和谐开始体现出来。由于国有企业改革是整个经济体制改革的中心环节,不坚决推进改革,国有企业就没有出路,整个经济体制改革就难以深入。党的十一届三中全会以来,国有企业改革不断推进,特别是近五年国有企业改革取得了突破性的进展。本文将从分析国有企业改革中出现的问题入手探讨国企改革的方向以及相应的对策。     

论国有资产重组与我国投资银行的发展

投资银行作为专业的资本运作机构，对世界经济发展产生了巨大而积极的影响。在我国，投资银行历史尚短，还未发展成真正意义上的现代投资银行。但是，伴随国有经济改革的不断深化和全面推进，我国投资银行获得了前所未有的发展机遇。本文拟从国有资产重组这一角度探讨我国投资银行发展的有关问题。一、投资银行是国有资产重组的实施主体当前，我国国有企业出现大面积经营亏损和资产流失，考察国有企业陷于困境的原因，最突出的莫过于国有经济结构的不合理。国有经济的结构调整，实质上是通过国有资产的流动和重组，改善国有资产的配置结构和…     

浅析事业单位财务风险及防范

在不断发展的市场经济中,事业单位财务风险的出现是不可避免的。只有充分认识事业单位财务风险特征及表现,并采取有效措施防范,才能有效规避可能出现的财务风险,本文针对事业单位可能出现的各种财务风险进行了简要的分析,并就如何防范与控制事业单位财务风险提出了一些看法与建议。     

市场转型与阶层分化：国有企业内部群体结构变迁研究

市场转型期国有企业内部出现了阶层分化趋势。现有研究主要是围绕国有企业内部阶层分化特征、阶层分化机制以及阶层分化后果进行的,这些研究得出了一系列富有价值的命题。在回顾这些研究成果的基础上,有关国有企业内部阶层定型化问题、国有企业内部阶层分化的深层机制问题以及国有企业内部阶层冲突与合作问题,成为有待于研究者未来进一步深入研究的问题。     

从公司治理结构看日本经济衰退的原因

20世纪90年代以后,日本泡沫经济破灭,一大批金融机构和大型企业倒闭,并出现了大量工人失业,经济增长率不断下降,国内需求不足,通货紧缩问题严重。这些现象不得不引人深思。本文从日本公司治理结构的产生、发展、演化的角度入手,分析了日本经济衰退的原因及其对我国现阶段国有企业改革和建立现代企业制度的借鉴意义。     

国有企业改革及其理论研究的若干问题

我国对国有企业的改革，历经十几年的努力，始终未能使国有企业踏上发展的坦途。居低不升的经济效益，有增无减的企业亏损，使得国有企业中有相当部分濒于破产、倒闭的艰难境地。我国迄今为止的国有企业改革为何未能明显奏效？原因显然是复杂的和多方面的，其中与我国有关国有企业理论研究上的欠缺和由此而来的许多失之偏颇的基本看法就不无关系。国有企业改革的深化与发展，有必要就国有企业的一些基本问题做出新的努力探讨和合理的理论阐释。一、理论研究视角及其对象的选择对国有企业的理论研究，视野必须广阔。因为国有企业无论是从历史…     

世界贸易组织与中国金融

金融是市场经济的中枢神经,是资本运营的核心.中国的金融体制源于计划模式,资源配置主要靠财政,不是银行.在体制转轨中,面临着艰巨的改革任务.在金融实务领域,存在着五大观念误区银行只能国家专办;国有银行只能给国有企业贷款;贷款必须提供实物硬件抵押;不是积极"寻贷",而是消极"惜贷";只是单纯放贷,不是兼顾投资.面向WTO,中国金融的发展走向是重新构筑金融体系;鼓励发展民营银行;实行国有银行的股份化改造,促进金融市场的深化;扩大金融市场的开放,尽快和国际接轨.     

浅析我国金融机构的上市问题

我国加入WTO后 ,作为一个特殊行业 ,我国金融业将面临国际金融行业的巨大冲击 ,金融体制改革进一步深化迫在眉睫。在国际竞争的压力之下 ,金融机构要充实资本金 ,提高经营素质 ,加强其整体实力 ,走上市之路就成为一项有战略意义的选择。金融企业上市是顺应国际证券业发展的潮流 ,也是证券市场发展规律的必然要求。     

基于国际金融危机的广西上市公司发展及对策研究

由美国次贷危机引发的全球金融危机是一次系统性的突发危机,冲击力度大,对广西上市公司形成强烈冲击。经过十几年的发展,广西上市公司取得了一定的成绩,但仍然存在上市步伐慢、优势产业不突出、布局不合理、总体业绩差、数量少、规模小等问题。科学发展观为发展广西上市公司提供了应对金融危机的理论武器,可利用上市公司组建大企业大集团,选准优势产业,培育一批具有竞争力的拟上市公司,突出区域优势,合理布局上市公司。     

人民币汇率波动与江苏上市公司权益风险的相关性研究——兼论美国金融危机的影响

以2005年7月21日汇改以来的人民币兑美元汇率和江苏省上市公司日收盘价为研究对象,利用DCC—MVGARCH模型实证分析人民币汇率波动与上市公司权益风险之间的动态相关性,结果表明：人民币汇率波动与上市公司权益风险间总体而言呈动态负相关关系,美国金融危机的冲击对这种相关性产生了显著的改变,相比而言,食品、纺织和运输类上市公司的这种相关性受金融危机的影响比较大。     

The impact of financial sanctions: The case of Iran

This study provides a detailed analysis of the impact of financial sanctions on publicly traded companies. We consider the effect of imposing and lifting sanctions on the target country’s traded equities and examine the differences in the reaction of politically connected firms and those without such connections. The paper focuses on Iran due to (1) its sizable financial markets, (2) imposition of sanctions of varying severity and duration on private and state-owned companies, (3) the significant presence of politically connected firms in the stock market, and (4) the unique event of the 2015 nuclear deal, resulting in fairly rapid lifting of a sizable portion of imposed sanctions. We find that sanctions affect politically connected firms more than ordinary firms, have lasting negative effects on profitability ratios, and that politically connected firms stock prices bounce back more slowly after removal of sanctions. Firms targeted by financial sanctions decrease their leverage and increase their cash holding to manage their perceived increase in risk profile.     

A Study on the Compensation Gap among Executives at Chinese Enterprises*

Based on data for 2005 to 2012, an analysis of the compensation gap between top executives at different Chinese listed companies reveals the following conclusions. (1) The large compensation gap existing among executives at listed Chinese companies—in some years even larger than that between rank-and-file employees—is mainly caused by the exorbitant executive compensation at a minority of companies. (2) Between 2005 and 2012, the compensation gap first widened dramatically and then diminished gradually. The leading factor in this fluctuation was the drastic rise and fall in the level of executive compensation at a handful of financial enterprises. The main reason for the narrowing of the compensation gap is central government regulation, which has helped to curb the excessive growth of executive compensation in society as a whole. (3) Even in the same round of fluctuation, state-owned listed companies differ markedly from non-state-owned listed companies in the way their executive compensation is decided. (4) State-owned listed companies’ executive compensation strategies and their internal governance structure have not played their due role in moderating the overly rapid growth of their executives’ compensation or in reducing the compensation gap.     

Lloyd's Financial Distress and Contagion within the US Property and Liability Insurance Industry

The intra-industry effect of Lloyd's financial distress on publicly traded US insurance companies is examined. Given Lloyd's prominence in the international insurance industry, large losses raised questions about the industry's capacity for certain types of risks and the financial solvency of other insurers. The market value of US property-liability insurers fell significantly at the announcement. This decline is related to the firm's revenues from insurance and reinsurance exposure. Results support contagion between Lloyd's distress and the US insurance industry. The study raises concerns about the potential for a systematic disruption of the supply of reinsurance in the international marketplace.     

Taking Financial Relationships into Account When Assessing Research

Many scientific journals, government agencies, and universities require disclosure of sources of funding and financial interests related to research, such as stock ownership, consulting arrangements with companies, and patents. Although disclosure has become one of the central approaches for responding to financial conflicts of interest (COIs) in research, critics contend that information about financial COIs does not serve as a reliable indicator of research credibility, and therefore, studies should be evaluated solely based on their scientific merits. We argue that, while it is indeed important to evaluate studies on their scientific merits, it is often difficult to detect significant influences of financial relationships that affect research credibility. Moreover, at least five factors can be examined to determine whether financial relationships are likely to enhance, undermine, or have no impact on the credibility of research. These include as follows: whether sponsors, institutions, or researchers have a significant financial stake in the outcome of a study; whether the financial interests of the sponsors, institutions, or researchers coincide with the goal of conducting research that is objective and reliable; whether the sponsor, institution, or researchers have a history of biasing research in order to promote their financial goals; how easy it is to manipulate the research in order to achieve financial goals; and whether oversight mechanisms are in place which are designed to minimize bias. Since these factors vary from case to case, evaluating the impact of financial relationships depends on the circumstances. In some situations, one may decide that the financial relationships significantly undermine the study's credibility; in others, one may decide that they have no impact on credibility or even enhance it.     

Protecting the ageing poor or strengthening the market economy: the case of the Hong Kong Mandatory Provident Fund

The Mandatory Provident Fund (MPF) launched by the Hong Kong government seems to be a residual welfare state's strategy to cope with an ageing population and, at the same time, preserve a minimal welfare state and further enhance economic development. The MPF can only provide limited protection for a limited number of employees; many older people still have to depend on financial support from their families or have to work. On the other hand, the MPF immediately boosts the economy by creating more jobs for the financial services sector and by providing more business opportunities for banks and insurance companies. Thus, the MPF has consolidated the foundation of Hong Kong's capitalism by socialising and incorporating the whole working population in the market economy but has provided little protection for their old age.     

广西北部湾经济区上市公司营运资金日常管理问题与对策研究

目前,广西北部湾经济区上市公司营运资金日常管理普遍存在短期偿债能力不足、结构不太合理、营运能力较弱的问题,因此,应从制定科学合理的营运资金政策、针对营运资金各构成项目的特点制定具体的管理措施、财务部门与业务部门紧密配合等角度加强营运资金的日常管理。