结余资金形态的变化及其核算

结余资金形态的变化及其核算顾家梁财政体制改革常常会涉及各级财政部门或财政部门与预算单位之间的权益分配。它不仅影响各部门、单位结余资金的数量，有时还会改变结余资金的存在形态。１９９４年开始实行的分税制即为一例。只有对结余资金存在形态的变化有了理性认识，...

The Utilization of Exotic Options in the Formation of Structured Products

This paper deals with the issue of investment certificate formation in the financial market. Investment certificate is a type of structured products, the value of which is derived from the value of an underlying asset. The underlying asset is usually a share in a company, a basket of shares, or an entire index, etc.. It can be stated that for every estimated development of an asset （growth, fall, and stagnation） or for every attitude to risks （conservative or aggressive investors）, there is a suitable kind of certificate. The main objective is to perform an analysis of the structured product--Austria/Germany Bond 3 and its guarantee certificate construction using digital-barrier options. The authors have found an alternative opportunity to the purchase of this certificate, i.e., investment in a bank deposit, together with a purchase of cash or nothing down and four-knock-out call options and a sale of cash or nothing down and four-knock-out put options. The authors prove that the alternative investment has the same profit profile as the certificate. The authors made this analysis with the objective to contribute to the intellectualization of investors.

按照经济规律组织运用企业存款

按照经济规律组织企业存款,是银行工作增强预见性、减少盲目性的必要条件。因为银行是联结国民经济的纽带和结算中心,全国有上百万个企业在银行有存款帐户,它们间由于产品分配引起的资金活动,都要通过银行帐户进行结转。社会产品的生产、分配、交换和消费的总过程,都离不开企业在银行的存款和存款帐户。因此,在社会主义生产、分配、交换和消费过程中发生作用的经济规律,也在某种程度上会影响企业在银行的存款。