政府支出、农村市场化与农村金融发展

分别以政府支出和农村市场化代表政府因素和市场因素,实证分析了政府因素和市场因素对农村金融发展的影响。研究发现：政府支出对农村金融发展的作用呈现非线性特征,政府支出与农村人均金融资产、农村人均贷款和农村金融风险存在“U”型关系,而与农村金融外流存在倒“U”型关系;农村市场化有助于提高农村人均金融资产和农村人均贷款水平,以及抑制农村金融外流,但是可能会加大农村金融风险。为提高农村金融发展水平,政策制定者应采取差异化的政府支出政策,加快推进农村市场化改革,同时,应着力提高农民收入水平,关注经济开放和汇率波动对农村金融发展的负向效应。     

电动空调涡旋压缩机型线优化

选取我国三大经济区2001—2017年的数据,运用面板数据模型分析了政府财政、金融市场及其相互作用对区域自主创新能力提升的影响,结果表明:政府财政对自主创新能力的提升作用较金融市场更为显著,但三大经济区存在差异;就全国总体而言,金融支持效率指标在是否存在政府中介的情况下均不显著,金融市场对自主创新的支持效率还很低下;误差修正模型表明区域自主创新能力提升还受自身前期自主创新能力水平影响;人力资本的投入对区域自主创新能力的提升起到至关重要的作用。     

我国金融控股公司立法必要性探析

金融控股公司作为我国金融“分业”体制下实现“混业经营”目的的一种组织创新模式,在我国的发展日益迅速,而我国立法空缺的现状却严重阻碍了其健康发展,也造成了极大的金融风险。文章利用历史分析、比较分析和法经济学的方法,通过对我国金融业历史发展演进的纵向考察,对世界金融控股公司普遍立法现状的横向比较以及金融控股公司作为一种经济组织形式与我国金融立法关系的分析,论证了我国金融控股公司立法的必要性。     

论公司理财权力竞争与运用

从公司理财权力概念、基本特征着手,分析了公司理财中客观上存在着的理财权力竞争。认为公司理财权力的价值、金字塔形的组织结构、资源的稀缺、绩效标准、环境的不确定性、权谋倾向,意见分歧是公司理财权力竞争的动因;公司及公司利益相关者可以通过法定程序、特殊才能和资源、特殊的行为等途径获得公司理财权力;公司理财人员要善于运用法定权力、奖酬权力、强制权力、专家权力和参照权力。     

The Impact of Personal Finance Education Delivered in High School and College Courses

This study investigates the impact of personal finance education delivered in high school and college. Outcomes of interest were investment knowledge and household savings rates measured years after the financial education was delivered. A web-based survey with questions about participation in financial education, financial experiences, income and inheritances, and demographic characteristics was administered to 1,039 alumni from a large midwestern university. Participation in a college level personal finance course was associated with higher levels of investment knowledge. Experience with financial instruments appeared to explain more of the variance in both investment knowledge and savings rates. No significant relationship between taking a high school course and investment knowledge was found. Financial experiences were found to be positively associated with savings rates.

我国区域金融发展与经济增长的关系研究——基于面板数据的实证研究

运用1980—2004年间相应经济指标的面板数据对我国东、中、西部经济增长与金融发展进行了实证分析,结果表明,中西部地区更多的依靠信贷规模扩张来推动经济增长,而东部地区更多的依赖于金融效率的提升。     

中国商业银行的现状分析

国有商业银行是我国金融体系的主体,但由于长期受计划经济的影响,国有商业银行远远不能适应市场经济,特别是金融全球化发展趋势的需要。作者针对我国四大国有商业银行在机构设置、业务经营、管理手段以及金融创新等方面存在的问题,提出收缩管理半径,减员增效;实行本币与外币业务经营及管理一体化;强化商业银行市场营销;提高金融电子化水平,开展和完善网上银行业务;加强国有商业银行内部风险控制等有效对策,完善网上银行的运行机制,加强国有商业银行的竞争力。     

Responsibility,planning and risk management: moralizing everyday finance through financial education

The individualization, privatization and marketization of risk management represent a fundamental dimension of the financialization of everyday life. As individuals are required to engage with financial products and services as the main way of protecting themselves from risks and uncertainties, their economic welfare and security are construed as depending largely on their own financial decisions. Within this setting, the concept of financial literacy and accompanying practices of financial education have emerged as a prominent institutional field handling the formulation and communication of the attributes and dispositions that arguably constitute the proper financial actor. This article analyzes financial education programmes currently conducted by state agencies in Israel, examining the notions and principles they articulate when defining and explaining proper financial conduct. The study indicates that moral themes and categories occupy a salient place in the formulation of the character traits that constitute the desired literate financial actor. Notions of individual responsibility, planning ahead and rational risk management are presented not merely as instrumental resources, but as moral imperatives. Through these notions, the programmes moralize a broad array of everyday practices of personal finance such as saving, investing, borrowing and budget management, thereby connecting the sphere of financial matters to the domain of moral virtues. Offering a representation of particular modes of financial conduct as constitutive components of morally virtuous personhood, these practices imbue the financial field as a whole, especially its current generalized logic of individualized and marketized risk management, with moral meanings, hence contributing to the normalization and depoliticization of the financialization of everyday life.     

网络借贷市场参与主体行为策略的演化博弈均衡分析——基于三方博弈的视角

由于监管缺失、信用风险管理缺位,导致网络借贷市场的违约事件持续出现,损害网络借贷市场的参与者利益。本文构建了一个包括网络借贷平台、金融监管机构和投资者的网络借贷市场参与主体的三方行为策略演化博弈模型,从演化博弈的角度分析了网络借贷平台、金融监管机构和投资者的策略选择对网络借贷市场运行的影响,并以拍拍贷平台为案例进行数值模拟分析。研究结果表明：不同初始值的三方博弈结果存在显著差异,网络借贷市场参与主体行为策略的演化博弈不具有稳定中心点、且不存在稳定的均衡点。另外,当金融监管机构采取"严格监管"措施时,惩罚值越高,网络借贷平台越倾向于选择"自律"的行为策略,随着投资者投资额度的增加,网络借贷平台选择"自律"行为策略的概率逐渐降低。最后,提出规范网络借贷市场参与者行为和风险控制的对策建议。