The finn value is the fundamental topic of corporate finance. The value creation is the aim of economic initiatives, strategies, corporate policies, and all business activities, including banking. It depends, among ot...The finn value is the fundamental topic of corporate finance. The value creation is the aim of economic initiatives, strategies, corporate policies, and all business activities, including banking. It depends, among other things, on size, legal form, and business model. Therefore, this paper wants to demonstrate and explain the differences about the value created in the Italian banking sector, where there is much diversity regarding size, legal form, and business model. This paper estimated and compared the value of Italian listed companies from 2010 to 2012 and found the result： Banks create more value if they are big and operate in investment banking. Furthermore, it proved that legal form hasn＇t influenced performance and value of banks.展开更多
In this paper, we study 169 IPO samples after Approval System is brought into effect. On the basis that we compare the degree of IPO underpricing in different underwriters and the underpricing condition between presti...In this paper, we study 169 IPO samples after Approval System is brought into effect. On the basis that we compare the degree of IPO underpricing in different underwriters and the underpricing condition between prestigious and non-prestigious underwriters, we go further to make regression analysis of the underwriter prestige and IPO underpricing which they underwrite. Finally we conclude that the offering price marketalization is still very low and the underwriter prestige does system is put into effect. not significantly impact on IPO underpricing after approval展开更多
Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment ba...Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment banks confront with immensely international competition. Meanwhile, Chinese investment banks are facing with problems such as elementary business structure, small capitalization and faultiness of governance, which lead to their less competitive power. This article conducts research from the perspective of path optimization of business structure of investment banks. Through economic analysis of path optimization of business structure, we conclude path optimization of business structure of domestic investment banks will lay a solid foundation for enhancing their competitive power. Whereafter this article constructs optimized path for business structure of Chinese investment banks and analyzes the influence factors of the optimized path. At last, this article advises on how to enhance the business structure of Chinese investment banks.展开更多
According to the different players, development cooperation is often divided into North-South Aid and South-South Cooperation, both of which have a history of several decades. Since the beginning of the 21st century, ...According to the different players, development cooperation is often divided into North-South Aid and South-South Cooperation, both of which have a history of several decades. Since the beginning of the 21st century, the rise of a number of emerging economies has brought South-South Cooperation into a new stage, which can be seen from the establishment of some new development finance institutions led by developing countries. BRICS Bank, Asia Infrastructure Investment Bank(AIIB) and Silk Road Fund are three important new development finance institutions. Compared with the traditional development finance institutions like World Bank and International Monetary Fund(IMF), they have their own concepts of development cooperation, which are different from the traditional ones. First, the new finance institutions pay more attention to the equality between partners, not imposing conditions and respecting the ownership of development partners. Second, the new development finance institutions value the market philosophy, which means that they emphasize the importance of field investigation and implement development cooperation in accordance with the actual needs of the partners and the comparative advantages of the providers. Finally, the new development finance institutions focus their resources on problem-solving and avoid doctrines-imposing. They believe that it is easier for the developing countries to achieve development through a gradual and bottom-up model. Although there are differences between the traditional and new development finance institutions, the latter is not parallel to or substitute of the former.They can cooperate with each other and provide better public goods for international cooperation through inclusive competition.展开更多
文摘The finn value is the fundamental topic of corporate finance. The value creation is the aim of economic initiatives, strategies, corporate policies, and all business activities, including banking. It depends, among other things, on size, legal form, and business model. Therefore, this paper wants to demonstrate and explain the differences about the value created in the Italian banking sector, where there is much diversity regarding size, legal form, and business model. This paper estimated and compared the value of Italian listed companies from 2010 to 2012 and found the result： Banks create more value if they are big and operate in investment banking. Furthermore, it proved that legal form hasn＇t influenced performance and value of banks.
文摘In this paper, we study 169 IPO samples after Approval System is brought into effect. On the basis that we compare the degree of IPO underpricing in different underwriters and the underpricing condition between prestigious and non-prestigious underwriters, we go further to make regression analysis of the underwriter prestige and IPO underpricing which they underwrite. Finally we conclude that the offering price marketalization is still very low and the underwriter prestige does system is put into effect. not significantly impact on IPO underpricing after approval
文摘Chinese investment banks, as a part of the financial market, play an important role in the development of the national economy. With the development of financial market after China＇s entry into WTO, the investment banks confront with immensely international competition. Meanwhile, Chinese investment banks are facing with problems such as elementary business structure, small capitalization and faultiness of governance, which lead to their less competitive power. This article conducts research from the perspective of path optimization of business structure of investment banks. Through economic analysis of path optimization of business structure, we conclude path optimization of business structure of domestic investment banks will lay a solid foundation for enhancing their competitive power. Whereafter this article constructs optimized path for business structure of Chinese investment banks and analyzes the influence factors of the optimized path. At last, this article advises on how to enhance the business structure of Chinese investment banks.
文摘According to the different players, development cooperation is often divided into North-South Aid and South-South Cooperation, both of which have a history of several decades. Since the beginning of the 21st century, the rise of a number of emerging economies has brought South-South Cooperation into a new stage, which can be seen from the establishment of some new development finance institutions led by developing countries. BRICS Bank, Asia Infrastructure Investment Bank(AIIB) and Silk Road Fund are three important new development finance institutions. Compared with the traditional development finance institutions like World Bank and International Monetary Fund(IMF), they have their own concepts of development cooperation, which are different from the traditional ones. First, the new finance institutions pay more attention to the equality between partners, not imposing conditions and respecting the ownership of development partners. Second, the new development finance institutions value the market philosophy, which means that they emphasize the importance of field investigation and implement development cooperation in accordance with the actual needs of the partners and the comparative advantages of the providers. Finally, the new development finance institutions focus their resources on problem-solving and avoid doctrines-imposing. They believe that it is easier for the developing countries to achieve development through a gradual and bottom-up model. Although there are differences between the traditional and new development finance institutions, the latter is not parallel to or substitute of the former.They can cooperate with each other and provide better public goods for international cooperation through inclusive competition.
