基于现金流量的财务风险预警体系探析

国内外研究表明,现金流量在财务困境企业与非财务困境企业之间有显著差异,现金流量具有财务预警能力。从现金流量的角度,在对现有的财务风险预警模型比较分析的基础上,研究建立基于现金流量的财务风险预警体系是非常必要的。     

从《反洗钱法》看我国洗钱罪立法的演进及完善

当前,洗钱犯罪已经成为各国普遍面临的难题,它不但给犯罪所得的黑钱披上了合法的外衣,为国家追查相关上游犯罪设置了障碍,而且为犯罪分子继续甚至扩大犯罪提供了条件与机会。如何对之进行有效打击,是各国都在努力探究的问题。本文从我国洗钱罪的立法历程入手,通过中外立法例的比较,指出我国洗钱罪立法上的不足,并提出今后应当完善的方向。     

Crises and unpredictability in developing countries

Developing countries have suffered most of the financial crises in the context of the process of economic and financial globalisation. Both current and previous crises have revealed that unpredictability is a feature common to all the episodes which occurred during the process of globalisation. Although certain alarms went off, any of those external financial crises were actually predicted by the advanced methods in use for prediction and country risk analysis. Taking into consideration the information above, the aim of this paper is to check the ability to foresee external financial crises in developing countries of both the country risk index published by Euromoney and the Credit Ratings variable included therein. We have focused on the external financial crises that took place between 1992 and 2011, that is, in a full globalisation era. The results are negative. It appears that neither the index nor the sovereign ratings are able to reflect early enough the vulnerabilities that arise previously to the setting off the crisis episodes. This leads us to conclude that the existing models of country risk have limits. Thus, it would necessary to develop new instruments to measure this risk, considering uncertainty as an essential feature of the current economic and financial environment.     

当前金融犯罪的主要特点与对策分析

当前经济犯罪的危害越来越严重,在经济犯罪中又以金融犯罪危害更为突出。目前金融犯罪大案、要案大幅度上升,作案手段呈智能化、多样化、隐蔽化,危害重大,严重影响了社会稳定,给社会造成了不可估量的经济损失,更对社会经济秩序乃至整个社会秩序产生了严重破坏。因此,制定科学、有效及切实可行的打击对策是当前公安工作的当务之急。     

科学发展观视野下地方财经高校科研管理研究

科学发展观是中国特色社会主义理论体系的最新内容,对高校科研管理工作具有重大指导意义。按照科学发展观的要求进行科研管理,有利于促进高校科研与市场接轨、提高科研成果的转化率、更好地为社会生活服务。以科学发展观指导科研管理工作,就是要在全面、准确理解科学发展观的科学内涵和精神实质的基础上,结合高校科研工作实际,按照科学发展观的要求,积极推进科研管理创新,促进高校科研水平不断提高。     

日本、印度金融支持农村基础设施建设的经验及启示

日本、印度两国在农村基础设施建设过程中,有多种金融机构提供多样化的金融服务,如日本的农协、农林渔业金融公库,印度的国家农业和农村开发银行等,为农村基础设施建设提供了贷款、担保等服务,确保了农村基础设施建设的金融需求。日本、印度的金融支持农村基础设施建设的实践给我国提供了有益的启示。     

Privatised Keynesianism: An Unacknowledged Policy Regime

There have now been two successive policy regimes since the Second World War that have temporarily succeeded in reconciling the uncertainties and instabilities of a capitalist economy with democracy's need for stability for people's lives and capitalism's own need for confident mass consumers. The first of these was the system of public demand management generally known as Keynesianism. The second was not, as has often been thought, a neo-liberal turn to pure markets, but a system of markets alongside extensive housing and other debt among low- and medium-income people linked to unregulated derivatives markets. It was a form of privatised Keynesianism. This combination reconciled capitalism's problem, but in a way that eventually proved unsustainable. After its collapse there is debate over what will succeed it. Most likely is an attempt to re-create it on a basis of corporate social responsibility.     

Do Accrual Numbers Really Affect the Financial Market? An Empirical Analysis of ESA Accounts Across the EU

The adoption of a full accrual framework in the public sector is differentiated country by country both for budgeting and for reporting phases. The purpose of this article is to address the following broader research question: How do accrual numbers affect the financial markets? The 10-year average interest rate on sovereign bonds across the European Union is used as a dependent variable. The results of the research show an unclear relation among the variables investigated. Given this evidence, an alignment between micro- and macroaccounting rules could be pursued. We argue the suitability of the Australian experience in this sense.     

Public-Sector Consolidated Financial Statements: An Analysis of the Comment Letters on IPSASB’s Exposure Draft No. 49

Public sector consolidated financial statements can be drafted according to different approaches, especially the “control approach” or “budgetary perspective.” Considering the growing importance of the International Public Sector Accounting Standards (IPSAS) in the international scenario, the aim of the article is to investigate these approaches through an analysis of the comment letters submitted to the Exposure Draft no. 49, which will replace the current IPSAS 6. The main finding concerns the acceptance of the key role played by the control approach, even though it needs to be better specified, in order to take into account the public sector characteristics.     

Financial Health in Australian Local Government: The Application of a Funding Assessment Model to Brisbane and Sydney City Councils

Local government financial viability measurement in an accrual budgeting environment poses complex challenges. Financial measures frequently generate conflicting results. A rating scale to assess financial management, constructed originally for South African municipalities (Dollery & Graves, 2009), represents a useful tool to analyze financial health trends. Applying a “Likert-like” scale to financial performance measures to assess “funding compliance”, the model in this article assists municipalities to avoid financial difficulties. To demonstrate the applicability of this model, we apply the model to the Brisbane City Council and the Sydney City Councils. Results show that the model represents a valuable aid to financial management decision-making.