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In this article we attempt to reexamine the familiar relationship between forward rate and future spot rate using RMB-USD on daily basis. By means of using cointegration techniques, we find that the RMBpsilas future spot rate and the current forward exchange rate have a long stable relationship and Granger causality testing proved that RMBpsilas spot exchange rate can be treated as an exogenous. However,...
This article firstly analyzes the lessor's default risk and necessity of reasonably determining margin money in financing lease, then expounds the method to measure default risk by probability of default, and establishes the model to calculate net profit and model to calculate margin money based on default risk. Finally, a numerical example is used to test the model. The results show that the application...
Through the statistical analysis of 51 electric power listed company, this paper shows the specific industry characteristics in electric power listed company, and makes detailed study on the electric power listed company's effect, tax shield effect and corporate governance effect of debt financing, then use empirical method to prove them. The empirical results show that, for the electric power listed...
This paper investigates the relationship between Merger and Acquisition (M&A) investment and the financing decisions influenced by market uncertainty. The study has shown that the M&A debt capacity decision influences the M&A investment timing and price decision. We also find out that making the decision of M&A debt capacity is based upon evaluating its influences on the M&A value...
Abstract-Taking China's ports-hinterland logistics system as an example, the paper discusses the harmonious operation of logistics finance management of supply chain which is composed of the functional entity activities such as transportation, warehousing, packaging, circulation and information transmission, as well as the goods movement of all sectors of the logistics process. The logistics finance...
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