2019年電大金融理論前沿課題網(wǎng)上形考作業(yè)答案必考重點

1、金融理論前沿課題網(wǎng)上形考作業(yè)一答案金融理論前沿課題網(wǎng)上形考作業(yè)一答案1、請說明經(jīng)理人掠奪的主要表現(xiàn)方式。、請說明經(jīng)理人掠奪的主要表現(xiàn)方式。答：經(jīng)理人掠奪是指經(jīng)理人憑借其管理權限和負責職能，采用多種貌似合理的方法和手段，據(jù)更多財富為已有的行為。經(jīng)理人掠奪的表現(xiàn)方式分為常規(guī)時期經(jīng)理人掠奪和金融危機時期經(jīng)理人掠奪。（1）常規(guī)時期經(jīng)理人掠奪方式，主要表現(xiàn)為不顧遠期風險的擴張戰(zhàn)略，以其提高其股權期權收益的方式來實現(xiàn)。經(jīng)理人的收入構成：收入=工資獎

2、金股權期權，其中工資報酬固定，但獎金補貼及股權期權都是隨銀行機構（企業(yè)）的資產(chǎn)、收入和利潤增長而增加，因此，常規(guī)時期經(jīng)理人不顧風險創(chuàng)新和擴張企業(yè)，使得銀行資產(chǎn)、收入和利潤在短期內(nèi)迅速增長，一方面增加經(jīng)理人獎金補貼，另一方面推動股票價格上漲，給經(jīng)理人股權期權帶來最大效益的收入。（2）金融危機時期的經(jīng)理人掠奪方式，可以說是企業(yè)經(jīng)理人通過制造危機來獲得最大收益，達到掠奪的目的。金融危機時期，經(jīng)理人并不對銀行機構（企業(yè)）前期的高風險政策負責，只

3、收獲危機前的收益。金融危機對于企業(yè)，要么破產(chǎn)要么度過危機；對于政府而言，或者救助或者放任自由。無論如何，如果度過危機，經(jīng)理人可以索要更加高額的酬薪；而如果企業(yè)破產(chǎn)，經(jīng)理人被解雇時可以獲得一筆補償，經(jīng)理人損失的只是其聲譽，但金融危機時期經(jīng)理人損失的聲譽具有系統(tǒng)性，其個人聲譽可以忽略不計，2、試結(jié)合國外分析我國有關部門規(guī)范相關行業(yè)高管人員薪酬制度的必要性和理論依據(jù)。、試結(jié)合國外分析我國有關部門規(guī)范相關行業(yè)高管人員薪酬制度的必要性和理論依據(jù)。

4、答：現(xiàn)今我國有關部門及時出臺相關政策來規(guī)范行業(yè)高管人員薪酬具有相當?shù)谋匾?，這是因為：（1）當我國的金融機構存在居高不下的不良資產(chǎn)率的同時，金融機構卻是盈利的，以至于金融高管人員分配利潤，而不良資產(chǎn)卻留給了社會公眾（2）金融高管人員通過從自己參股的金融機構借貸，然后再通過關聯(lián)交易的方式，轉(zhuǎn)移資產(chǎn)，當金融機構破產(chǎn)時，企業(yè)貸款也就成為金融機構不良資產(chǎn)的一個部分，而高管人員卻從中獲得巨大的收益（3）金融高管人員掠奪使得他們獲得巨大的收益，但卻

5、造成金融機構的巨大不良資產(chǎn)漏洞，成為經(jīng)濟運行的不穩(wěn)定因素，轉(zhuǎn)嫁給了社會公眾。這些因素促成了我國有關部門出臺相關制度來規(guī)范行業(yè)高管人員薪酬的必要性。3、請從所有者（國有企業(yè)股東）和政府部門的角度，提出規(guī)范我國企業(yè)特別是國有金融企業(yè)高管人員、請從所有者（國有企業(yè)股東）和政府部門的角度，提出規(guī)范我國企業(yè)特別是國有金融企業(yè)高管人員薪酬制度的建議。薪酬制度的建議。答：針對政府、國有企業(yè)股東、企業(yè)高管三者的利益在金融危機前的重合使監(jiān)管形同虛設，金融

6、危機后，國有企業(yè)股東損失巨大，而政府的損失更大，從國有企業(yè)股東和政府部門的角度提出以下幾條規(guī)范企業(yè)高官薪酬制度的建議：（1）加強民主監(jiān)督，對企業(yè)高管人員實施酬薪政策，完善制度，對高管人員的收益進行管理（2）改變“一股獨大”的股權結(jié)構，堵塞漏洞，對違規(guī)的高管人員采取更加嚴厲的懲罰措施（3）改變壞賬與利潤分離的財務管理方式，分配利潤必須要在以利潤沖抵壞賬后方能進行（4）嚴格執(zhí)行資本監(jiān)管原則，保證資本充足，通過資本監(jiān)管約束金融機構內(nèi)業(yè)務夸張，

7、同時限制機構外業(yè)務過度膨脹監(jiān)管。需要有效統(tǒng)計和監(jiān)測流出流人中國境內(nèi)的人民幣總量，以有效控制通貨膨脹的發(fā)生和轉(zhuǎn)移。需要制定人民幣發(fā)行數(shù)量和我國各項經(jīng)濟指標相關聯(lián)的模型，以便對境外人民幣進行管理。VisafreepolicybringsChengdubiztourismboost.MakingnationalheadlinesseveraltimesChengdus72hourvisafreepolicyhasattractedwideat

8、tentionfrombothChinesefeignexpertsbusinessmensinceittookeffectonSept1lastyear.Theprogrampermitscitizensfrom51countriesregionsincludingtheUnitedStatesAustraliaCanadaJapanwhohavevalidvisasflightticketstoathirdcountrytospen

9、dthreedaysinthecity.ThecapitalofSichuanprovinceisthefirstcityinthewesternregionofChinatoofferfeigntouristsathreedayvisathefourthnationwidetoadoptthepolicyfollowingShanghaiBeijingGuangzhou.LiZhiyongdeputydeanofthetourismi

10、nstituteatSichuanUniversitysaidthemove“contributestoalargeincreaseinthenumberofoverseastouristsraisesthecityslevelofinternationalization“.“Thepolicywillalsobringdirecteconomicrevenue“Lisaid.“Chengduhasmanyculturallegacie

11、sisalsoaparadisefpaloverswiththewldslargestbreedingresearchcenter.Threedaysarelongenoughffeignvisitstovisitthoseiconictouristspots“henoted.ThecityishometotheremainsoftheJinshacivilizationthatdatesbackmethan3000yearsaswel

12、lastheQingchengMountainstheDujiangyanirrigationsystem.QingchenghaslongbeenrecognizedasthebirthplaceofTaoismChinasancientindigenousreligionwhileDujiangyanisconsideredtobetheoldestfunctioningwatercontrolprojectinthewld.Che

13、ngdurankedthirdintouristfacilitiesmanagementservicesamong60Chinesecitiesinacustomersatisfactionsurveyreleasedlastyear.ButLiaddedthatefftsarestillneededtodevelopmetourismproductsimproveEnglishservicesprovideaccuratetransl

14、ationoftrafficsignsscenicbillboards.ZhaoYunchairwomanofBritishChamberofCommerceSouthwestChinatoldChinaDailythathiscolleaguesfoundthepolicyveryconvenient.“ABritishclientonceflewherestayedfjustonedaytocheckherderedgoods“sh

15、esaid.ZhaowasbninShanxiprovincebutshehaslivedinChengdufmethan10years.“Mylifewaslikearunningracemovingfromplacetoplace.IalsolivedinBeijingShanghaibefe“shesaid.“ButChengduisaplacethatyouneverwanttoleaveoncesettlingdown.Iti

16、snowmysecondhometown“shesaid.Iftheenvironmentisfurtherimprovedthecitywillattractmepeopletovisitlivewiththe72hourvisafreepolicycompellingconditionsintransptationcultureclimatecuisinehesaid.Feignersalsogavepositivefeedback

17、onthepolicy.AspokesmanfromDellIncsaidthecompanyhasaglobalhubofoperationinChengdusothethreedayvisa“hasanimmediatepositiveinfluenceonthecompanysbusinessdevelopment“.RudyButtignolpresidentofthepublicbroadcastingcompanyinBri

18、tishColumbiaCanadasaidhiswkrequiresfrequenttraveltoChengduthepolicy“makesthetripseasier“.Datafromthecityspublicsecuritybureaushowssome100feignvisitsenjoyedthe72hourpolicybytheendofMarchmostofthemfromtheUnitedStatestheUni

19、tedKingdomGermany.Chengdualsoreptedrobustgrowthinitsoveralltouristindustrylastyear.Officialstatisticsshowthatitreceivedsome150milliontouristslastyearanincreaseof28percentfrom2012.Around1.7millioncamefromabroadanincreaseo

20、f12percent.Totalrevenuefromtourismsurpassed133billionyuan($21.7billion).DuringhisvisittoKazakhstaninSeptemberChinesePresidentXiJinpingproposedthatChinaCentralAsiajoinhstobuildaSilkRoadeconomicbelttoboostcooperation.Theid

21、eahasbeenwidelyechoedinCentralAsiancountriesbecominganencouragingblueprintfChineseareasalongtheSilkRoadthathaslinkedAsiaEuropefmethan2000years.InthenextthreeweeksChinaDailyrepterswilltravelthroughthebeltinChinainKazakhst

22、anUzbekistanTurkey.Theywillshowtheprogressexpectationsofthecountriesbusinessespeoplesontheroute.ShaanxithestartoftheancientSilkRoadhaspositioneditselfasthenewstartingpointfthedevelopmentoftheSilkRoadEconomicBeltwhichwill

23、strengthenChinascooperationwithCentralAsiancountriesaseniofficialsaid.ShaanxiGovernLouQinjiansaidtheprovinceisfreshrichuniqueasitwaswhenitanchedoneendoftheancientSilkRoad.“Itisthebestoptionfaccommodatingindustrialtransfe

24、rsfromEastChinathewldatlarge“hesaidonWednesdayinXian.Louheldajointinterviewwith27mediaincludingChinaDailythefirstinaseriesofinterviewsentitledChineseMediaAlongtheSilkRoad.TheinterviewswillbeinShaanxiGansuprovincestheXinj

25、iangUygurautonomousregionaswellasKazakhstanUzbekistanTurkey.ThemediagroupheldthefirstinterviewonWednesdaymninginXianthestartingpointoftheancientSilkRoadatradechannelestablishedmethan2000yearsagolinkingChinaCentralAsiaEur