Table of Content

16 September 2005, Volume 25 Issue 9

Previous Issue    Next Issue

REVELATION OF MODERN INTERNATIONAL TRADE THEORY FOR CHINESE FOREIGN TRADE DEVELOPMENT

CUI Fan

2005, (9):  5-9. 

Asbtract ( )   PDF (1149KB) ( )  

References | Related Articles | Metrics

Professor Samuelson argues that during globalization, Chinese technological progress in which areas America originally has comparative advantages will result in the worsening of American trade terms and decrease of its welfare. On the contrary, based on date, this paper shows that Chinese increasing exports of labor-intensive products worsen Chinese trade terms. Moreover, in the long run, China will decrease the percentages of vertical trading products based on cheap labor force, while increase that of horizontal trading.

RESOURCE CONSTRAINTS, PROFIT TRANSFERS, AND DISECONOMY GROWTH —Resources in China’s high Economic Growth

FU Yu-sheng

2005, (9):  14-20. 

Asbtract ( )   PDF (1129KB) ( )  

References | Related Articles | Metrics

The main constraint of China’s economic development is short of natural resources and abundant in manpower. The high increase in investment of economic development has led the quick increases in raw material import and price, and profits has transfered from production to supply since 2003. As a result, the inside effect decreases and the outside effect increases, and the increase of GDP and social welfare has a weak relation, i.e. diseconomy growth. It indicates economic development depends on resources’ capacity and the increase of GDP should be reflected in the increase of welfare. For this purpose, it is important that we quicken state’s function transformation, perfect market mechanisms and explore resources widely and effectively.

MAIN METHODS FOR CHINA’S FINANCIAL RISK MANAGEMENT

HUANG Hai-feng, MA Hong-yi

2005, (9):  31-36. 

Asbtract ( )   PDF (677KB) ( )  

References | Related Articles | Metrics

The meaning of the New Basel Capital Accord is not limited to bank capital capacity guidance and credit risk management as a new standard of international financial supervision and financial risk management; it also has a considerable value for the development of financial risk management in China. The main problems of China’s financial risk management are unbalanced information and imperfect supervisory system, with the exacerbation of international financial risk and expansion of potential crisis, Chinese financial institutes which are close managed for a long time should follow the track of international development concerning advanced international financial system rules and standards; based on studying New Basel Capital Accord’s risk avoidance and financial supervision mechanisms to establish Chinese-characterized financial risk management criterion and supervisory system.

DEA EFFICIENCY OF CHINESES BANKS BASED ON LOOSE VARIABLES

YUAN Yun-feng, GUO Xian-guang

2005, (9):  37-42. 

Asbtract ( )   PDF (1373KB) ( )  

References | Related Articles | Metrics

Based on DEA models and loose variables techniques, analysis of Chinese banks efficiency shows that the primary problems are: the lower efficiency of the four-big state-owned banks than other joint-stock banks; excess labors, especially the four-big state-owned banks; deficiency of effective supply of financial services and obviously reluctance to lend; and deficiency of profits, etc. Solving all these problems, this paper believes, should be the key to Chinese banks reforms.

ON DISTRIBUTION SYSTEM OF RENT FOR ELECTRICITY AND WATER WHEN SENDING ELECTRICITY FROM WEST TO EAST

CHEN Xiu-shan, DING Xiao-ling

2005, (9):  47-52. 

Asbtract ( )   PDF (613KB) ( )  

References | Related Articles | Metrics

This paper argues that in order to get the win-win situation for both west and east areas, we should improve the distribution system of rent for electricity and water and coordinate the regional interests.

CORPORATION GOVERNING EVALUATION INDEX: ANALYZING CURRENT SITUATIONS AND TRENDS OF CHINA CORPORATION GOVERNING

LI Wei-an, ZHANG Guo-ping

2005, (9):  58-64. 

Asbtract ( )   PDF (1687KB) ( )  

References | Related Articles | Metrics

The quality of corporation governing, which guarantees the interests of relative bodies, needs to be evaluated scientifically. Introducing fair and systematic evaluations among value evaluations, which are the usual ways around the world, are very helpful for the Chinese corporation value orientation and reforms.

THE OPTIONS GAME THEORETIC ANALYSES ON THE FIRM VALUE CREATION

CHEN Mei, MAO Ning

2005, (9):  65-70. 

Asbtract ( )   PDF (597KB) ( )  

References | Related Articles | Metrics

The Options game theory integrates the inside sources of firm value creation with the outside sources in the domain of strategic management, and makes comprehensive analyses on the sources of firm value by both qualitative and quantitative method. The realization of firm value mainly lies in the trade-off among the cash flow, option flexibility value, and strategic preemption value. “Tomato garden” provides a good platform for the timing decision of investment, which is very helpful to analyze the firm value in the uncertain and competitive environment.