Financial Feasibility Study of NDC Scheme Based on Comparison of Financial Costs between NDC and FDC Schemes

The establishment of individual accounts is the landmark events for China officially shift from pay-as-you-go pension system to partly funded system. But the process of running personal accounts at the same time also exposed various drawbacks. On the macro level, there is a growing gap between the nominal amount of personal account and the actual accumulated amount, which means the personal account is empty, the personal accounts are being questioned, and the scholars began to seek other solutions. NDC scheme came into being. specific empirical work has been done by using the actuarial model of pension income and expenditure to predict whether NDC is superior to FDC in financial cost by comparing the institutional cost of FDC and NDC from 2015 to 2050. Finally, this paper draws a conclusion that the nominal account system can be used as a choice route for the basic pension system for urban workers in the next 30 years with the assist of relevant supporting measures.

Brief discussion on the financial cost management in China＇s private enterprises

With the current development and progress of the socialist marketing economy, the number of the private enterprises in our country increases constantly, and the development scale has been expanded constantly, which has become an important component for China＇s national economy, and making a huge contribution to promote the increase of China＇s national economy. In order to occupy a development location among the fierce market competition and expand the market share, the private enterprises in our country make many efforts constantly, such as strengthening and promotion of the internal management concept and the management mode, etc., which really obtains an obvious achievement and progress, however, due to the restriction of the various reasons, there are still many realistic problems existing in the financial cost management for the private enterprises, which restricts the sustainable, modern and scientific development step greatly, for the method on improving the financial cost management level in China＇s private enterprises and the guarantee of the pertinence and the efficiency for the financial cost management measures to be implemented in the private enterprises, it becomes the key problems which needs to be solved by the private enterprises currently.

The Impact of the Digital Economy on Financial Regulatory Costs: An Empirical Analysis Based on the Solow Growth Model

As a novel economic form,the digital economy is reshaping the financial regulatory landscape and significantly impacting regulatory costs.This paper incorporates the digital economy and financial regulatory costs into the classic Solow growth model,uncovering an inverted U-shaped relationship between them.A subsequent mechanism analysis explains the rationale behind this relationship.To empirically examine this relationship in China,the paper utilizes inter-provincial panel data from 2013 to 2021 and employs methodologies such as the two-way fixed effects and moderating effects models.These analyses have important implications for the sound and sustainable development of China’s financial industry.The findings indicate:(a)As China’s digital economy develops,its impact on financial regulatory costs follows an inverted U-shaped pattern,initially increasing and then declining.This conclusion remains valid after robustness tests.(b)The influence of the digital economy on regulatory costs depends on favorable external conditions.Specifically,the impact is more pronounced in regions and periods with better digital infrastructure and more abundant human capital.(c)Additionally,redundant resources moderate this impact,which can weaken the inverted U-shaped relationship.Our findings not only provide a theoretical foundation for understanding the impact of the digital economy on financial regulatory costs but also offer valuable policy insights for optimizing financial regulation in China.

Financial Services Costs in Poland＇s Cooperative Banking in Opinion of Small and Medium-size Enterprise

In their development strategy, Poland＇s cooperative （co-op） banks should equally consider the competition and the rising expectations of their clientele. According to bank customers, an essential element of customer satisfaction--which ties into their loyalty--is the cost of financial services. Currently, delivering a comfortable level of costs for financial services appears to be one of the key verifiers of a bank＇s offer, especially in a slowed economy. An effort was made to assess the satisfaction level of Poland＇s co-op bank clients from the small and medium enterprise （SME） sector based on costs for services offered by said banks. The study indicated that 2/3 of the clientele was dissatisfied with high financial service and operation charges and low interest rates on current funds deposited by businesses. Co-op banks were able to deliver satisfactory interest rates for working capital loans in current accounts to over 60% of their clientele.

Understanding Corporate Costs and Sustainability

This material aspires to start to evaluate every sorts of corporate cost form the view of modem corporation. Traditionally, there are material costs together with depreciation, salary cost, personal cost, financial cost, and other cost. For managerial purposes, this paper distinguishes between standard and nonstandard cost. Special attention is devoted to responsibility costs and division of costs. In this modem age, however it is a question whether the understanding of cost should be so narrow and limited to money that a corporation spends during the course of its production, or whether it should include also the constitution of negative externalities--the damages the company causes to the environment. Therefore, the final part of this contribution part deals with function of cost and attempts to provide an evaluation of basic sorts of cost in modem corporation from a broader societal perspective.

Clinical outcomes of Clutch Cutter endoscopic submucosal dissection for older patients with early gastric cancer

AIM To evaluate the clinical outcome of endoscopic submucosal dissection using the Clutch Cutter(ESDCC) in older patients. METHODS We reviewed 232 consecutive patients with early gastric cancer who underwent ESDCC between June 2010 and February 2014 at Aso Iizuka Hospital. We divided patients into two groups according to age: Older patients(> 80 years, n = 64) and non-older patients(≤ 80 years, n = 168). We retrospectively compared the prevalence rates of pre-existing comorbidities, anticoagulant therapy, en bloc resection, mean duration of hospitalization, incidence of ESDCC-related complications, change in performance status(PS) before and after ESDCC, and financial cost of admission. RESULTS The older group comprised 64 patients with a mean age of 84.1 years, and the non-older group comprised 168 patients with a mean age of 69.5 years. Older patients had significantly more pre-existing comorbidities than did non-older patients, specifically heart disease(P < 0.05). The en bloc resection rate in non-older patients was significantly higher than that in older patients(100% vs 95.3%, P = 0.02). There were no significant differences between the older and non-older groups in the incidence of ESDCC-related complications(i.e., postoperative bleeding and perforation) and the post-ESDCC change in PS. There were also no significant differences between the older and non-older groups in the mean duration of hospitalization(11.4 and 10.7 d, respectively) and financial cost of admission(657040 JPY and 574890 JPY, respectively).CONCLUSION ESDCC has a good clinical outcome in older patients.

Estimating the shareholder's terminal payoff based on insurer's solvency ratio in mixed fractional Brownian market

This paper studies the insurer’s solvency ratio model in a class of mixed fractional Brownian motion(MFBM) market, where the prices of assets follow a Wick-It? stochastic differential equation driven by the MFBM, by the method of the stochastic calculus of the MFBM and the pricing formula of European call option for the MFBM, the explicit formula for the expected present value of shareholders’ terminal payoff is given. The model extends the existing results.

Estimating the Shareholder's Terminal Payoff in Insurer's Solvency Ratio Model under Fractional Market

The insurer's solvency ratio model in a class of fractional Black-Scholes markets is studied. In this market,the price of assets follows a Wick-It stochastic differential equation,which is driven by the fractional Brownian motion. The market coefficients of market model are deterministic functions. By the stochastic calculus of the fractional Brownian motion and the pricing formula of European call option for the fractional Brownian motion,the explicit formula for the expected present value of shareholder's terminal payoff is given. The model extends the existing results.