A necessary condition for realizing macroeconomics is to rationally upgrade the industrial structure.In this process of upgrading,financial capital deepening and technological progress are important ways to promote th...A necessary condition for realizing macroeconomics is to rationally upgrade the industrial structure.In this process of upgrading,financial capital deepening and technological progress are important ways to promote the upgrading of industrial structure.From an endogenous perspective,this essay explores the internal links between financial capital deepening,technological progress,and industrial structure upgrading.The analysis shows that factors of technological progress have not make a tremendous impact on the upgrading of Chinese industrial structure,nor are they a positive reason for promoting the development of the industry to a higher level.The deepening of financial capital obviously promotes the optimization and upgrading of industrial institutions,which is its main factor.展开更多
Adjustment of Basle Capital Agreement will influence the risk management and capital arrangement demand of the banks with different scales, operation level and environment. It will have widespread and profound effect ...Adjustment of Basle Capital Agreement will influence the risk management and capital arrangement demand of the banks with different scales, operation level and environment. It will have widespread and profound effect on the competition strength of every country＇s banks in the global market. Starting with illustration of the present cond（tion of risk management in China＇s banks, the paper analyzes the major problems existing in the risk management system of China＇s banking industry, then puts forward some clues and suggestions to improve and better the risk management system of China＇s banking industry.展开更多
The global financial tsunami has swept the automobile industry and put major auto markets in the world at stake.The Ameri- can market is now between the beetle and the block,with both General Motors and Chrysler on th...The global financial tsunami has swept the automobile industry and put major auto markets in the world at stake.The Ameri- can market is now between the beetle and the block,with both General Motors and Chrysler on the verge of reshuffling.The European market has seen a plunge in both car production and sales in many countries.Several big auto companies in Japan have suffered a slump in car sales both at home and abroad.China's economy is inevitably affected,on a relatively展开更多
As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy i...As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.展开更多
There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of co...There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of contractual foreign capital, accounting for 10 percent of total investment in power development in the same period. For-展开更多
Web-based corporate reporting is the provision of financial information through the Internet. Other companies prefer to disclose their financial information in order to satisfy their investors and to attract new ones ...Web-based corporate reporting is the provision of financial information through the Internet. Other companies prefer to disclose their financial information in order to satisfy their investors and to attract new ones while others prefer to provide as less information as possible. The purpose of this paper is twofold： first it provides a critical examination of the main reporting criteria followed by the Greek listed companies, in order to point out how many of these companies present these criteria. Second, it considers how the industry sector of the listed companies or their capitalization category is related with their disclosure degree of financial reporting.展开更多
Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a signi...Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.展开更多
Over the past 70 years since the founding of the People’s Republic of China,great changes have been seen in the financial industry in terms of its nature,function,scale,structure and other features.It has experienced...Over the past 70 years since the founding of the People’s Republic of China,great changes have been seen in the financial industry in terms of its nature,function,scale,structure and other features.It has experienced six stages of development,namely,inception and consolidation,arduous growth,exploration and restructuring,segmentation,fictitious economy orientation,and real economy promotion and risk prevention.The tremendous success and useful experience made during this period have largely bolstered the prosperity and stability of the Chinese economy,improved Chinese people’s living standards,and exerted a profound impact on China’s economy and society.Based on its development pattern,the Chinese financial sector will expect further openingup at home and abroad and a growing capacity in serving the real economy,while new business forms and models will emerge rapidly and stronger preventive measures against financial risks will be needed.In response to the financial development in the new era,proactive and pragmatic measures need to be in place to safeguard the stable and sound development of the financial industry.展开更多
文摘A necessary condition for realizing macroeconomics is to rationally upgrade the industrial structure.In this process of upgrading,financial capital deepening and technological progress are important ways to promote the upgrading of industrial structure.From an endogenous perspective,this essay explores the internal links between financial capital deepening,technological progress,and industrial structure upgrading.The analysis shows that factors of technological progress have not make a tremendous impact on the upgrading of Chinese industrial structure,nor are they a positive reason for promoting the development of the industry to a higher level.The deepening of financial capital obviously promotes the optimization and upgrading of industrial institutions,which is its main factor.
文摘Adjustment of Basle Capital Agreement will influence the risk management and capital arrangement demand of the banks with different scales, operation level and environment. It will have widespread and profound effect on the competition strength of every country＇s banks in the global market. Starting with illustration of the present cond（tion of risk management in China＇s banks, the paper analyzes the major problems existing in the risk management system of China＇s banking industry, then puts forward some clues and suggestions to improve and better the risk management system of China＇s banking industry.
文摘The global financial tsunami has swept the automobile industry and put major auto markets in the world at stake.The Ameri- can market is now between the beetle and the block,with both General Motors and Chrysler on the verge of reshuffling.The European market has seen a plunge in both car production and sales in many countries.Several big auto companies in Japan have suffered a slump in car sales both at home and abroad.China's economy is inevitably affected,on a relatively
文摘As it is known to all, the new energy industry plays an important in the economic transformation and structure adjustment of our country. The government attaches great importance to the development of the new energy industry. Particularly for the developing countries, to achieve rapid development require a lot of capital. However, there are some problems with finance in the development of the new energy industry. Based on the analysis, this paper puts forward some countermeasures.
文摘There were 75 medium-to-large projects attracting foreign capital in the power industry sector from 1979 to 1995, expanding the power capacity of China by about 49 million kilowatts and utilizing US$17.3 billion of contractual foreign capital, accounting for 10 percent of total investment in power development in the same period. For-
文摘Web-based corporate reporting is the provision of financial information through the Internet. Other companies prefer to disclose their financial information in order to satisfy their investors and to attract new ones while others prefer to provide as less information as possible. The purpose of this paper is twofold： first it provides a critical examination of the main reporting criteria followed by the Greek listed companies, in order to point out how many of these companies present these criteria. Second, it considers how the industry sector of the listed companies or their capitalization category is related with their disclosure degree of financial reporting.
文摘Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.
文摘Over the past 70 years since the founding of the People’s Republic of China,great changes have been seen in the financial industry in terms of its nature,function,scale,structure and other features.It has experienced six stages of development,namely,inception and consolidation,arduous growth,exploration and restructuring,segmentation,fictitious economy orientation,and real economy promotion and risk prevention.The tremendous success and useful experience made during this period have largely bolstered the prosperity and stability of the Chinese economy,improved Chinese people’s living standards,and exerted a profound impact on China’s economy and society.Based on its development pattern,the Chinese financial sector will expect further openingup at home and abroad and a growing capacity in serving the real economy,while new business forms and models will emerge rapidly and stronger preventive measures against financial risks will be needed.In response to the financial development in the new era,proactive and pragmatic measures need to be in place to safeguard the stable and sound development of the financial industry.
