金融

al ventures. Informal financial institutions rely on relationships and reputation and can more efficiently monitor and enforce repayment from a class of firms than mercial banks and similar formal

ina has achieved impressive economic growth in recent years. It is undergoing a technological change with huge IT investments in both public and private sectors. However, there are only a handful of

e, the overall expenditure limit can be viewed as a highly ideological decision. The size of the budget is a reflection of a mitment to provide goods, services, and social protection, and provides

es equityholders an incentive to invest suboptimally. More specifically the debt contract provides that, if an investment yields large returns well above the face value of the debt, equityholders will

ucture。 however, they do not consider dynamic deterioration in the firm’s credit quality. In DeMarzo and Fishman (2020), agents draw down on credit lines when cash flows are insufficient to pay debt

aselI is used in more than 100 countries,far more than was initially expected. Despite this apparent success in achieving its primary goals,it is clear that Basel I has also had some unintended and

se with an institution’s ebanking initiatives depending on the volatility and pricing of the acquired deposits. The Inter provides institutions with the ability to market their products and services

iqueness include expenditures on research and development over sales (RD/S), selling expenses over sales (SEIS), and quit rates (QR), the percentage of the industry39。 s total work force that

risations and access rights can be established in either a centralised or distributed manner within a bank and are generally stored in databases. The protection of those databases from tampering or

率。 目前 ,全国财务公司平均资本充足率约为 20%,高于商业银行平均水平和中国人民银行监管要求 ,但问题在于财务公司资本金结构不合理 ,资本金补充缺乏持续性。 主要表现 :一是次级资本的相对量较少 ,贷款呆账和坏账准备金用于冲销坏账 ,无法当作资本运用。 二是资本金主要来源于集团 ,由于受集团财力限 制 ,不能随资产规模的增长而连续进行投资。 (五 )操作风险 操作风险或称内部控制风险