商业银行信息披露中的负外部性及其经济法解决探析

健全商业银行信息披露制度对于我国完善市场经济体制,强化对银行的市场约束,提高金融透明度具有重要意义。目前我国商业银行信息披露中存在不全面、不及时、不可靠以及不统一等问题所致的负外部性。经济法可以运用它的信息传递功能,构建有效标准体系、健全时限规则和完善监管制度来解决信息披露的负外部性,对于信息披露中外部性的救济,可以通过经济法中特有的公益经济诉讼予以解决。     

试论美国清理不良资产的做法及对我国的启示

国有企业负债与银行不良资产增加的问题,是我国经济体制改革中亟待解决的一个重大问题。本世纪８０年代末９０年代初,美国通过专门立法,建立起两套目标相同、职能互补、相互制约的机构,依法清理大量破产的储蓄贷款协会不良资产的做法,对我们有一定借鉴意义     

金融监管体系改革对商业银行的影响及对策

中国银行业监督管理委员会的成立，标志着我国银行监管体制的重大变革已进入具体实施阶段，银监会今后将加大对商业银行的监管力度和频度，这必将对商业银行的经营产生深刻的影响。在新的金融监管形势下，商业银行应按照有效监管的要求，达到合规经营和风险防范的长效管理，实现可持续发展。本文从分析我国现行的金融监管体制和商业银行现状入手，指出了金融监管体系改革对商业银行的影响并提出了相应的对策。     

EVA在我国上市银行经营业绩评价中的应用

根据Stem Stewart公司的EVA(经济增加值)定义,结合我国国情与银行的特殊性建立EVA模型。选取2010年16家上市银行的财务数据,分别采用EVA与EVA回报率进行分析,研究结果显示:国有商业银行的EVA较高,2家股份制商业银行的经营业绩居前;再对16家银行的传统财务指标和EVA进行比较,结果表明:EVA和EVA回报率结合起来综合考察指标,更能反映银行的经营业绩,EVA和传统财务指标之间有一定的关联性,但是相对于后者,EVA更能真实地反映银行一定期间的经营业绩,有助于投资者作出更好的判断。     

基于凸度缺口模型的商业银行利率风险最优控制及其应用

对商业银行利率风险的管理和控制,传统的久期模型仅适用于利率变化较小和利率期限结构平移条件下的线性近似估计,否则就需要运用凸度进行调整。根据Markowitz现代组合投资理论,构造一个目标规划模型,通过合理确定其中决策变量的值,使商业银行在决策期末满足最小化利率风险和银行资产负债组合的凸度为非负的条件下收益最大化。计算实例表明,凸度缺口模型对于给定的初始值和约束条件,可以较好地减少利率风险的暴露头寸和提高收益;同时,利率风险较大时凸度缺口模型比久期缺口模型更好地减少风险暴露,鲁棒性(robustness)更强。     

中国城市商业银行推行混合所有制研究

在新一轮的国企改革中,混合所有制已成为最主要突破口,推行股东多元化与股权分散化已然是改革工作的重中之重。在商业银行这一特殊的国有控股企业中,大中型商业银行虽具有推行混合所有制的必要性,但缺少改革的可行性;相比之下,历经多次改革洗礼与监管考验的城市商业银行具备改革的必要性与可操作性,被历史性的推向改革前台。在经济新常态环境下,城市商业银行混合所有制改革要以产权结构的优化与经营机制的完善为主要抓手,坚持市场逻辑,冲破体制性障碍,在动态、持续、内在、有机融合的改革中全面提升国有资产的运行效益,走向高质量、高层次的转型发展。     

美国银行信用风险与宏观经济变量的实证研究

以2005年到2012年美国综合银行不良贷款的相关数据为样本,对影响美国银行信用风险的宏观经济变量进行实证检验。研究结果表明：美国综合银行的信用风险水平比较高,其信用风险水平与失业率有着显著的强正相关关系,而与 GDP增长率、消费者物价指数增长率、生产者物价指数增长率和广义货币增长率无关。实际上,美国银行业的信用风险经过金融衍生品分散转化后并没有消除,只是被隐藏起来了,并且逐步累积。有鉴于此,提高我国银行业信用风险管理水平措施包括：一是着重研究宏观经济波动以及政策的实施对信用风险的影响;二是提高就业率,保持宏观经济环境的良好状态;三是借鉴西方发达国家较为成熟的理论体系,形成适合我国的风险管理控制方法;四是提高对住房贷款业务的风险认识;五是重视信用文化建设和银行信用制度创新。     

Efficiency measures of the Chinese commercial banking system using an additive two-stage DEA

Measuring and improving the efficiency of the Chinese commercial banking system has recently attracted increasing interest. Few studies, however, have adopted the two-stage network DEA to explore this issue in the Chinese context. Because the entire operational process of the banking system could be divided into two sub-processes (deposit producing and profit earning), the evaluation of the sub-process efficiencies could be used to assist in identifying the sources of the inefficiency of the entire banking system. In this study, we utilize the network DEA approach to disaggregate, evaluate and test the efficiencies of 16 major Chinese commercial banks during the third round of the Chinese banking reform period (2003–2011) with the variable returns to scale setting and the consideration of undesirable/bad output. The main findings of this study are as follows: (i) the two-stage DEA model is more effective than the conventional black box DEA model in identifying the inefficiency of banking system, and the inefficiency of the Chinese banking system primarily results from the inefficiency of its deposit producing sub-process; (ii) the overall efficiency of the Chinese banking system improves over the study period because of the reform; (iii) the state-owned commercial banks (SOBs) appear to be more overall efficient than the joint-stock commercial banks (JSBs) only in the pre-reform period, and the efficiency difference between the SOBs and the JSBs is reduced over the post-reform period; (iv) the disposal of non-performing loans (NPLs) from the Chinese banking system in general explains its efficiency improvement, and the joint-equity reform of the SOBs specifically increases their efficiencies.     

Breaking the taboo: a history of monetary financing in Canada, 1930–1975

Monetary financing – the funding of state expenditure via the creation of new money rather than through taxation or borrowing – has become a taboo policy instrument in advanced economies. It is generally associated with dangerously high inflation and/or war. Relatedly, a key institutional feature of modern independent central banks is that they are not obligated to support government expenditure via money creation. Since the financial crisis of 2007–2008, however, unorthodox monetary policies, in particular quantitative easing, coupled with stagnant growth and high levels of public and private debt have led to questions over the monetary financing taboo. Debates on the topic have so far been mainly theoretical with little attention to the social and political dynamics of historical instances of monetary financing. This paper analyses one of the most significant twentieth‐century cases: Canada from the period after the Great Depression up until the monetarist revolution of the 1970s. The period was a successful one for the Canadian economy, with high growth and employment and manageable inflation. It offers some interesting insights into the relationship between states and central banks and present‐day discussions around the governance of money creation.     

完善国有商业银行管理信息系统的构想

通过对商业银行计算机网络现状的分析,提出应在我国整个金融系统尽快开发完善管理信息系统,并对系统的构成要素提出了设想。