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Over-development of fictitious economy may produce bubble capital and bubble burst can induce financial crisis. The Granger cause of the representative variable of real economy to the variables of fictitious economy in China is tested and the bubble expansion rate of each period of China's fictitious economy is calculated by the quarterly data from the second quarter of 1998 to the forth quarter of...
Micro-loan company has opened up a new way to solve the "Farmers, Rural Areas, Agriculture Production" problems, the financial difficulty of SMEs and financial need of low-income groups in China. With the analysis of soft information and relationship banking theory, this paper studies lending relationship between micro-loan company and loan client with the dynamic game of Bayesian equilibrium...
The global financial crisis sprang from the Wall street have swept all the world, the financial markets and real economies in developed countries are badly affected. As the world's third largest economy, china can not sit idly. Affected by the crisis, in 2008 China's economic growth began to decline from the peak and declined quarter by quarter, the annual growth rate was 8% of the troika that promtes...
Stock market has gradually become an absolutely necessary part of financial market in China. The trend analysis and forecasting of stock prices become key topics in investment and security, which have great theoretical significance and application value. In this paper, the wavelet modulus maxima method is proposed for the abnormal detection of the stock market. The abnormal points detected by wavelet...
The paper analyzed the principle of securitization of catastrophe insurance and studied the implementation details of the securitization process though the case study of securitization of Sichuan earthquake insurance. It is concluded that Catastrophe Insurance Securitization can be an effective instrument for insurance companies to diversify the catastrophic risk to the financial market. Meanwhile...
In a current financial market with competition being more and more aggravated, new product development and pricing becomes extremely important for financial enterprises to achieve competitive position. As a new financing pattern, logistics finance has enormous potential and its potential is being discovered and appreciated by commercial banks. Starting with the characters of logistics finance and...
Dependence plays a central role in financial theory. Linear correlation is the appropriate measure of dependence if financial asset returns follow an elliptical distribution. However, experiences show that the volatility of a single asset return possesses the heteroscedasticity and clustering. Meanwhile, a distribution of financial asset return has fat-tails, skewness and other non-normal features...
This essay analyzes and represents the financial maturity of Guangdong from different angles, such as financial summation, financial structure and financial efficiency. The conclusion is the financial maturity of Guangdong is higher than other province, while the superiority is declining. Guangdong has to utilize the superiority, readjust the financial structure and promote the efficiency of financial...
During current economic downturn, China has rolled out stimulus plans to facilitate domestic demand development, adjusting her export trade policy. This has affected many Hong Kong invested enterprises in pearl river delta (PRD), facing difficulties to transform and upgrade, with new opportunities as well to develop China's domestic market. Among them, domestic market intelligence and financial resources...
As small-country two-asset model, the portfolio balance theory could not explain why the low interest rate policy in China could not avoid speculative foreign capital influx, but stimulates greater bubble in financial market. This paper proposes a two-way capital flow model based on multiple-assets arbitrage, where bilateral capital flow between two countries depends on investors' portfolio adjustment...
In this paper the interactions between the return rates of life insurance companies and each financial asset were mainly discussed in order to get the general investment strategies for the life insurance companies under the present situations of financial market in China. Firstly, the interactions between the investment of life insurance companies and the financial assets were qualitatively discussed...
At present, in China's financial market, there exists very strong financial restriction in both indirect financing and direct financing. Financing channels for private sectors are so narrow that the efficiency of capital allocation is low. Financial restriction leads to the situation that China's economic growth mainly relies on government investment. Moreover, with the enlargement of market size,...
In recent years, logistics industry in China has been developed rapidly and become one of the backbone industries for national economy. The prosperity of logistics industry brings opportunity for financial market, and thus accelerating the development of logistics finance. Logistics finance not only is a necessity for national economy development, but also forms a huge market demand. Logistics, as...
Credit risk is one of most important risks of financial market, which is concerned by all circles of society. This paper puts forward the credit risk evaluation system that suits the listed companies in China based on current studies of domestic and international researchers. According to the situation of the credit risk assessment and the credit risk management of listed company in China, we select...
With the increasing opening of the financial market, the state-owned commercial banks in China are faced with the unprecedented challenges. As the core of national finance and vital of national economy, the state-owned commercial banks could not rival with foreign banks unless they make profound changes. And the reform of credit risk management is a major step that determines whether the state-owned...
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