中国金融与全球治理
张红力 (3)
China’s Finance and Global Governance
ZHANG Hong-li (3)
商业银行的信贷战略风险管理
魏国雄 (10)
The Risk Management of the Credit Strategy of Commercial Banks
WEI Guo-xiong (10)
商业银行行为风险及其防控初探
惠 平（18)
A Study of the Conduct Risks and Risk Prevention of Commercial Banks
HUI Ping (18)
商业银行服务“新三农”问题与政策研究
程凤朝 刘献良 (27)
A Study of the Problems and Policies of Commercial Banks Serving “New ACF”
CHENG Feng-chao LIU Xian-liang (27)
机构投资者持股、公司投资支出与公司业绩——基于银行系基金与上市公司的实证研究
丁 鑫 荆 新 (38)
Institutional Investor’s holdings, Investment Expenditure and the Performance of Companies —— An Empirical Study Based on Banking-Funds and Listed Companies
DING Xin JING Xin (38)
隐性成本、民间金融利率与宗族网络
袁 力（54)
Implicit Cost, Interest Rate of Private Finance and Kinship Network
YUAN Li(54)
银行业竞争、村镇银行发展与小微企业信贷可得性——基于江苏县域面板数据的分析
周顺兴 林乐芬 (63)
Banking Competition, Rural Banking Development and the Loan Availability of Small & Micro-Enterprises —— An Analysis Based on the County Panel Data of Jiangsu Province
ZHOU Shun-xing LIN Le-fen (63)
“一带一路”战略下的金融合作与风险防范研讨会综述
A Summary of the Symposium on “Financial Co-operation and Risk Prevention Relative to ‘One Belt and One Road’ Strategy” (73)
中国金融与全球治理
张红力
［摘 要］ 共同发展是全球治理的根本目标和逻辑主线。本文立足金融专业视角，探讨新时期下中国金融参与和引领全球治理变革的实现问题。从世界共同发展的角度看，全球治理变革势在必行，中国积极参与、敢于担当、有所作为，既是全球的需要，也是时代的选择。金融是现代经济的核心，也是共同发展的命脉，在全球治理中发挥着重要作用。中国金融应在巩固自身建设的基础上，通过更富成效的“走出去”，提升制度性话语权，推动全球治理的转型升级，为共同发展创造更多可能，最终实现中国梦与世界梦的深层共鸣。
［关键词］ 中国金融；全球治理；共同发展；金融引领
［Abstract］ Common development is the fundamental objective and main logic of global governance. From the perspective of financial profession, this paper analyzes the issues about the realization of China’s participation in and leading global governance reform in the new era. From the perspective of the common development of the world, the global governance reform is imperative, and China’s active participation, courage to undertake and role are the world’s demand and the choice of the era. Finance is the core of modern economy and also the lifeblood of common development, and it plays an important role in global governance. On the basis of consolidating its own construction and by more productive “going out”, China’s finance should enhance institutional rights of speech, promote the transformation and upgrading of global governance, create more possibility for the common development, and so as to realize the deep resonance ultimately between China’s dream and world’s dream.
［Key words］ China’s finance; global governance; common development; financial leading
商业银行的信贷战略风险管理
魏国雄
［摘 要］ 当前商业银行出现的信贷风险问题主要是受外部经济环境等因素的影响，但同时也是银行忽略了对信贷战略风险的管理所致。银行信贷战略风险管理的关键在于以下三点：一是要明确规定在一定时期内适度的信贷总量增长，确保风险总量可控；二是要尽职守住信贷战略风险底线不动摇、实现信贷战略目标不动摇；三是要在信贷总量内确定未来的信贷结构目标。实施信贷战略风险管理的必要条件包括：完善信贷风险管理机制，明确风险管理责任；创新信贷风险管理方式；完善员工行为风险管理；监管部门应关注银行信贷战略风险。
［关键词］ 商业银行；信贷风险；信贷战略；信贷风险管理机制
［Abstract］ The current credit risks of commercial banks arise mainly due to the impacts of external economic environment and other factors, but another reason is that some banks ignore the strategic management of the credit risks. The keys of the risk management of banking credit strategy are the following three points：first, it’s necessary to define the moderate growth of total credits clearly in a period so as to ensure total risks to be controlled; second, it’s necessary to fulfill the responsibility to hold the risk bottom line of credit strategy and reach the strategic goal of credits steadily; third, it’s necessary to define the future goal of credit structure in total credits. The necessary conditions for the risk management of credit strategy include: to improve management mechanism of credit risks and define responsibility for risk management clearly; to innovate management mode of credit risks; to improve the management of employee’s conduct risks; the regulatory institutions paying attention to the risks of banking credit strategy.
［Key words］ commercial bank; credit risk; credit strategy; management mechanism of credit risk
商业银行行为风险及其防控初探
惠 平
［摘 要］ 本文从商业银行的视角，结合行为风险的产生及发展背景，对国内外行为风险事件进行梳理，总结2008年国际金融危机后国际行为风险监管改革及发展情况，研究行为风险监管对商业银行的影响，并对行为风险与审慎监管体系下相关风险的关系进行了比较分析。在此基础上，对商业银行行为风险防控提出以下建议：加强公司治理与企业文化建设、完善内控结构与监督措施、严格履行相关信息披露义务等。
［关键词］ 商业银行；行为风险；金融消费者保护；行为监管；审慎监管
［Abstract］ From the perspective of commercial banks and combining the backgrounds of the engendering and developments of conduct risks, this paper reviews the foreign and domestic events of conduct risks, summarizes the international reform and development in the supervision of conduct risks all over the world since the international financial crisis in 2008, researches the impacts of conduct risks on commercial banks and presents a comparative analysis of the relationship between conduct risks and related risks in prudential supervision system. Then the paper presents following suggestions for commercial banks to prevent conduct risks: to strengthen corporate governance and the development of corporate culture, improve internal control structure and monitoring measures, and strictly fulfill the obligations to disclose information, etc.
［Key words］ commercial bank; conduct risk; financial consumer protection; conduct supervision; prudential supervision
商业银行服务“新三农”问题与政策研究
程凤朝 刘献良
［摘 要］ 当前金融服务“三农”面临着金融供给“过度”与“不足”共存、农村金融抵押担保难、增值服务不足、农业保险发展滞后、农村征信体系建设滞后等问题。解决以上问题的政策建议如下：创新“三农”信贷政策制度和产品；为“三农”客户提供增值服务；利用“互联网+”和现代科技手段创新现代农业金融服务；借助“大数据”等科技手段创新银行“三农”风险管理；推动改善“三农”金融生态环境。
［关键词］ 商业银行；新三农；金融服务；农村金融；金融生态环境
［Abstract］At present, China’s finance that provides services for agriculture-countryside-farmer (ACF) faces the problems such as the coexistence of excessive financial supply and insufficient financial supply, difficulties in rural financial collateral, insufficient value-added services, lagging development of agricultural insurance and lagging construction of rural credit system, etc. The policies to be proposed to solve the above problems include the following: to innovate credit policies, systems and products about ACF; to provide value-added services for ACF customers; to use the “Internet+” and modern technology to innovate financial services for modern agriculture; to use“big data” and other technologies to innovate the ACF risk management of banks; to promote the improvement in ACF financial ecological environment.
［Key words］ commercial bank; New ACF; financial service; rural finance; financial ecological environment
机构投资者持股、公司投资支出与公司业绩——基于银行系基金与上市公司的实证研究
丁 鑫 荆 新
［摘 要］ 本文实证研究银行系基金机构投资者持股对上市公司投资支出和公司业绩的影响。研究发现：银行系基金机构投资者持股的上市公司的投资支出水平和公司业绩，显著高于非银行系基金机构投资者持股的上市公司的投资支出水平和公司业绩；机构投资者持股比例越高，上市公司的投资支出水平越高，公司业绩越高。实证检验结果表明，银行系基金机构投资者持股在一定程度上发挥了积极的治理效应，减少由于股东与债权人利益冲突引起的投资不足问题，降低公司的代理成本，从而提高上市公司投资水平和公司业绩。
［关键词］ 银行系基金机构投资者；银行系基金持股；投资支出；公司业绩
［Abstract］This paper presents an empirical research on the influence of the institutional investor’s holdings of banking-funds on the investment expenditure and performance of listed companies. It’s found that compared with the non-banking-funds, the investment expenditure and performance of listed companies, the stocks of which are held by institutional investors of banking-funds, are significantly higher; the higher the ratio of the institutional investor’s holdings and the greater the investment expenditure of listed companies, the better the performance. The empirical results of the paper show that the banking-funds institutional investor’s holdings have positive governance effects to some extent, improve the investment insufficiency resulting from the interest conflict between creditors and shareholders, reduce the agent costs of companies, then improve the investment quality and performance of listed companies.
［Key words］ banking-fund institutional investor; banking-fund holding; investment expenditure; performance of company
隐性成本、民间金融利率与宗族网络
袁 力
［摘 要］ 本文采用中国城乡居民家庭借贷情况调查的数据，估计民间金融利率与宗族网络对民间借贷中隐性成本的影响，分析隐性成本的作用及相关影响因素。研究发现：非现金补贴是民间借贷中一项不可忽视的隐性成本，在考虑隐性成本后，民间金融的真实利率会更高；民间借贷的隐性成本与借贷有无利息密切相关，无息借款的隐性成本显著低于有息借款的隐性成本，这表明隐性成本不只是一种道义补偿，还是一种风险补偿；宗族网络发挥着分担风险和加强信任的作用，能够显著降低隐性成本和真实利率，从而促进民间融资的发展。
［关键词］ 民间金融；隐性成本；非现金补贴；宗族网络
［Abstract］ Based on the survey data of urban and rural residents’ lending in China, this paper estimates the influence of the interest rate of private finance and kinship network on the implicit cost of private lending, and analyzes the role of implicit cost and the relating factors. It’s found that non-cash subsidy is an implicit cost which shouldn’t be ignored in private finance, and if the implicit cost is taken into account, the real interest rate of private finance will be higher; the implicit cost of private finance is closely related to whether the lending is interest-free or not, and the implicit cost of interest-free-lending is significantly lower than that of interest-lending, which indicates that implicit cost is not only a moral compensation, but also a risk compensation; kinship network plays a role in sharing risks and strengthening trust, and it can significantly reduce implicit cost and real interest rate so as to promote the development of private finance.
［Key words］ private finance; implicit cost; non-cash subsidy; kinship network
银行业竞争、村镇银行发展与小微企业信贷可得性——基于江苏省县域面板数据的分析
周顺兴 林乐芬
［摘 要］ 本文利用江苏省45个县（市）2009~2013年经济金融相关数据，研究银行业竞争与村镇银行的发展如何影响小微企业的信贷可得性。结果表明，银行业竞争程度的提升有利于提高小微企业信贷可得性；村镇银行发展对银行业竞争与小微企业信贷可得性的关系具有正向调节作用，村镇银行发展状况越好，当地小微企业信贷可得性也越高。
［关键词］ 银行业竞争；村镇银行；信贷可得性；小微企业
［Abstract］ This paper uses the economic and financial data of 45 counties (cities) of Jiangsu province to analyze how the banking competition and rural banking development influence the loan availability of small & micro-enterprises. The results of the paper show that the increase in banking competition will improve the loan availability; rural banking development has positive regulatory effects on relationship between the banking competition and the loan availability of small & micro-enterprises; the better the rural banking development, the higher the loan availability of local small & micro-enterprises.
［Key words］ banking competition; rural banking; loan availability; small & micro-enterprises
“一带一路”战略下的金融合作与风险防范研讨会综述
编者按：“一带一路”作为国家战略，经过两年的探索部署，目前已经从概念和规划布局进入到了实质性落地阶段。在“一带一路”战略实施过程中，银行和企业最关心的问题包括两个方面：一个是以融资为核心的多元化金融服务的适应问题；另一个是战略推进过程中有效的风险防范。不久前，中国工商银行城市金融研究所围绕上述问题，组织了“‘一带一路’战略下的金融合作与风险防范”学术研讨会。与会专家分别就人民币国际化需要面对的宗教、文化、政治风险；“一带”和“一路”战略的差异化认识以及对应的差异化服务；“一带一路”战略与PPP的对接；“一带一路”战略下的大国金融结构；“一带一路”战略的机遇、风险与应对原则等展开讨论。