In recent years, the academic and practical circles have paid so much attention to similar financial models because they generated a miracle in GOME （Gome Electrical Appliances Holding Limited） and SUNING （Suning A...In recent years, the academic and practical circles have paid so much attention to similar financial models because they generated a miracle in GOME （Gome Electrical Appliances Holding Limited） and SUNING （Suning Appliance Co., Ltd.） respectively. But what＇s the influence of such a model on corporate profitability and risk？ Are similar financial models free lunches？ To seek for the answers to the above questions, in this paper, we take Gree （GREE Electric Appliances, Inc. of Zhuhai）, Midea （Guangdong Midea Electric Appliances Co. Ltd. Stores） and GOME for examples to carry out a comprehensive and in depth financial analysis. The conclusions of this paper are： The company with similar financial characteristics has higher profitability and risk level; Only the companies which meet special requirements need or can implement such a model and the identification and control of hidden risk can guarantee its success.展开更多
Social security fund is the key of social security system to run the important material. Policy implementation of social security funds, operation supervision of safety and risk prevention and control and management, ...Social security fund is the key of social security system to run the important material. Policy implementation of social security funds, operation supervision of safety and risk prevention and control and management, is to perfect social security system, to realize the sustainable development of the social security system important link. This paper expounds the basic status quo of China＇s social security fund risk control, risk prevention and control, the necessity of fund risk management, and analyzed the social power supervision in the way and the important significance.展开更多
Overbuilding, i.e. capping or decking, of roads assigned for the transportation of dangerous goods in major cities is being considered more often in many countries including Sweden. This type of facility introduces a ...Overbuilding, i.e. capping or decking, of roads assigned for the transportation of dangerous goods in major cities is being considered more often in many countries including Sweden. This type of facility introduces a number of risks and challenges related to rare events, such as dangerous goods accidents in tunnels, with a potential to cause substantial damage, e.g. collapse of buildings on the over site development. Many argue that the major problem associated with risk evaluation of such risks is the lack of commonly agreed acceptance criteria and regulations. Approaching the problem from a scientific perspective suggests that the root cause of this problem has not been adequately identified. However, there are strong indications that it is because the nature of the risk is not adequately addressed in risk analysis. In this study, we have structured the problem and propose ways of making progress in the evaluation of risk exposure and risk control. It is concluded that several challenges are inherent in the risk management of decking over routes for the transport of dangerous goods, and that these must be addressed in order to be able to control the risk. One of the complicating factors is that it is practically and economically impossible to construct the overbuilding so that it can withstand the maximum permissible explosion load. The main conclusions of this study are that overbuilding of dangerous goods routes has the potential to lead to catastrophic events, that the transport of dangerous goods in the future is associated with considerable intrinsic uncertainties, and that the possibility of supervising and controlling the transport of goods is limited once the route is in use.展开更多
Earthquake disaster risk,as a typical social disaster risk,is one of the most important risks in modern Chinese society.This study gives definitions of the institution,describes the formation history,the connotations ...Earthquake disaster risk,as a typical social disaster risk,is one of the most important risks in modern Chinese society.This study gives definitions of the institution,describes the formation history,the connotations and development and analyzes its role in the control of major social risks caused by earthquakes.Finally,the paper presents recommendations for continuous improvement of this institution under the guidance of risk society theory,and for its application to the government reform and social governance.展开更多
Joint loan guarantee contracts and mutual guarantee contracts among SMEs form the basis of SME guarantee networks. The expansion of these networks increases the fragility of a financial system as a result of the regio...Joint loan guarantee contracts and mutual guarantee contracts among SMEs form the basis of SME guarantee networks. The expansion of these networks increases the fragility of a financial system as a result of the regional and industrial risk contagion embedded within them. By providing a theoretical framework of a loan guarantee network, a method is proposed for calculating the amount of risk spillover caused by loan guarantees taking the perspective of the entire network. In addition,the route of risk contagion in guarantee networks is analyzed, revealing that when default risk shocks occur, risk contagion travels along the nodes not once but for several rounds and that the risk control of one firm cannot prevent these systemic risks. Therefore, a risk control scheme is designed based on the location and importance of firms in the network. Using data from a real guarantee network,we demonstrate that identifying the node locations of firms' in the guarantee network(including the coritivity and closeness of the firm) can help in understanding risk contagion mechanisms and preventing systemic credit risk before a crisis occurs.展开更多
Flood control forecast operation mode is one of the main ways for determining the upper bound of dynamic control of flood limited water level during flood season. The floodwater utilization rate can be effectively inc...Flood control forecast operation mode is one of the main ways for determining the upper bound of dynamic control of flood limited water level during flood season. The floodwater utilization rate can be effectively increased by using flood forecast information and flood control forecast operation mode. In this paper, Dahuofang Reservoir is selected as a case study. At first, the distribution pattern and the bound of forecast error which is a key source of risk are analyzed. Then, based on the definition of flood risk, the risk of dynamic control of reservoir flood limited water level within different flood forecast error bounds is studied. The results show that, the dynamic control of reservoir flood limited water level with flood forecast information can increase the floodwater utilization rate without increasing flood control risk effectively and it is feasible in practice.展开更多
文摘In recent years, the academic and practical circles have paid so much attention to similar financial models because they generated a miracle in GOME （Gome Electrical Appliances Holding Limited） and SUNING （Suning Appliance Co., Ltd.） respectively. But what＇s the influence of such a model on corporate profitability and risk？ Are similar financial models free lunches？ To seek for the answers to the above questions, in this paper, we take Gree （GREE Electric Appliances, Inc. of Zhuhai）, Midea （Guangdong Midea Electric Appliances Co. Ltd. Stores） and GOME for examples to carry out a comprehensive and in depth financial analysis. The conclusions of this paper are： The company with similar financial characteristics has higher profitability and risk level; Only the companies which meet special requirements need or can implement such a model and the identification and control of hidden risk can guarantee its success.
文摘Social security fund is the key of social security system to run the important material. Policy implementation of social security funds, operation supervision of safety and risk prevention and control and management, is to perfect social security system, to realize the sustainable development of the social security system important link. This paper expounds the basic status quo of China＇s social security fund risk control, risk prevention and control, the necessity of fund risk management, and analyzed the social power supervision in the way and the important significance.
文摘Overbuilding, i.e. capping or decking, of roads assigned for the transportation of dangerous goods in major cities is being considered more often in many countries including Sweden. This type of facility introduces a number of risks and challenges related to rare events, such as dangerous goods accidents in tunnels, with a potential to cause substantial damage, e.g. collapse of buildings on the over site development. Many argue that the major problem associated with risk evaluation of such risks is the lack of commonly agreed acceptance criteria and regulations. Approaching the problem from a scientific perspective suggests that the root cause of this problem has not been adequately identified. However, there are strong indications that it is because the nature of the risk is not adequately addressed in risk analysis. In this study, we have structured the problem and propose ways of making progress in the evaluation of risk exposure and risk control. It is concluded that several challenges are inherent in the risk management of decking over routes for the transport of dangerous goods, and that these must be addressed in order to be able to control the risk. One of the complicating factors is that it is practically and economically impossible to construct the overbuilding so that it can withstand the maximum permissible explosion load. The main conclusions of this study are that overbuilding of dangerous goods routes has the potential to lead to catastrophic events, that the transport of dangerous goods in the future is associated with considerable intrinsic uncertainties, and that the possibility of supervising and controlling the transport of goods is limited once the route is in use.
基金sponsored by the National Social Science Fund of China "Research on the Status,Efficiencies and the Policy on the National Significant Seismic Monitoring and Protection Regions"(11&ZD054)
文摘Earthquake disaster risk,as a typical social disaster risk,is one of the most important risks in modern Chinese society.This study gives definitions of the institution,describes the formation history,the connotations and development and analyzes its role in the control of major social risks caused by earthquakes.Finally,the paper presents recommendations for continuous improvement of this institution under the guidance of risk society theory,and for its application to the government reform and social governance.
基金supported by the National Nature Science Foundation of China under Grant Nos.71172186,71472148,71572144 and 71502138
文摘Joint loan guarantee contracts and mutual guarantee contracts among SMEs form the basis of SME guarantee networks. The expansion of these networks increases the fragility of a financial system as a result of the regional and industrial risk contagion embedded within them. By providing a theoretical framework of a loan guarantee network, a method is proposed for calculating the amount of risk spillover caused by loan guarantees taking the perspective of the entire network. In addition,the route of risk contagion in guarantee networks is analyzed, revealing that when default risk shocks occur, risk contagion travels along the nodes not once but for several rounds and that the risk control of one firm cannot prevent these systemic risks. Therefore, a risk control scheme is designed based on the location and importance of firms in the network. Using data from a real guarantee network,we demonstrate that identifying the node locations of firms' in the guarantee network(including the coritivity and closeness of the firm) can help in understanding risk contagion mechanisms and preventing systemic credit risk before a crisis occurs.
基金supported by the National Natural Science Foundation of China (Grant Nos. 51079015, 50979011)
文摘Flood control forecast operation mode is one of the main ways for determining the upper bound of dynamic control of flood limited water level during flood season. The floodwater utilization rate can be effectively increased by using flood forecast information and flood control forecast operation mode. In this paper, Dahuofang Reservoir is selected as a case study. At first, the distribution pattern and the bound of forecast error which is a key source of risk are analyzed. Then, based on the definition of flood risk, the risk of dynamic control of reservoir flood limited water level within different flood forecast error bounds is studied. The results show that, the dynamic control of reservoir flood limited water level with flood forecast information can increase the floodwater utilization rate without increasing flood control risk effectively and it is feasible in practice.
