Development of Supply Chain Finance, Financial Constraints and Cash Flow Sensitivity

This paper used the Chinese listing Corporation financial data （2003-2013） to study the relationship between the supply chain finance development, SME financing constraints and cash flow. The study found that the small and medium-sized enterprise has obvious cash flow sensitivity, explaining it is subjected to the larger financing constraints. The development of supply chain finance can alleviate the financing constraints of SMEs, but for large enterprises it is unable to play a corresponding role.

电信网络诈骗检察公益诉讼治理效能的发挥

近年来,电信网络诈骗案件高发不断,其涉诈资金链流呈现跨国合作密切、国内跑分组织完整,资金转移通道账户分级严密、青睐地方中小银行、空壳公司委托注册泛滥、资金链流共灰产业化等特点。从涉诈资金链流作切入点去探析开展检察公益诉讼存在的困难有侵害社会公共利益判断标准的把握问题、侵权主体查证难、弱势群体承担民事侵权赔偿责任能力有限等。电信网络诈骗检察公益诉讼治理效能的发挥应从完善检察公益诉讼制度、督促市场主体和市场行政机构对“两卡”的管理、帮信犯罪探索实行惩罚性赔偿等方面加强电诈公益诉讼履职体系性建构。