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(diǎn)

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(qǐng)說(shuō)明經(jīng)理人掠奪的主要表現(xiàn)方式。、請(qǐng)說(shuō)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(quán)限和負(fù)責(zé)職能，采用多種貌似合理的方法和手段，據(jù)更多財(cái)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(shí)期經(jīng)理人掠奪和金融危機(jī)時(shí)期經(jīng)理人掠奪。（1）常規(guī)時(shí)期經(jīng)理人掠奪方式，主要表現(xiàn)為不顧遠(yuǎn)期風(fēng)險(xiǎn)的擴(kuò)張戰(zhàn)略，以其提高其股權(quán)期權(quán)收益的方式來(lái)實(shí)現(xiàn)。經(jīng)理人的收入構(gòu)成：收入=工資獎(jiǎng)

2、金股權(quán)期權(quán)，其中工資報(bào)酬固定，但獎(jiǎng)金補(bǔ)貼及股權(quán)期權(quán)都是隨銀行機(jī)構(gòu)（企業(yè)）的資產(chǎn)、收入和利潤(rùn)增長(zhǎng)而增加，因此，常規(guī)時(shí)期經(jīng)理人不顧風(fēng)險(xiǎn)創(chuàng)新和擴(kuò)張企業(yè)，使得銀行資產(chǎn)、收入和利潤(rùn)在短期內(nèi)迅速增長(zhǎng)，一方面增加經(jīng)理人獎(jiǎng)金補(bǔ)貼，另一方面推動(dòng)股票價(jià)格上漲，給經(jīng)理人股權(quán)期權(quán)帶來(lái)最大效益的收入。（2）金融危機(jī)時(shí)期的經(jīng)理人掠奪方式，可以說(shuō)是企業(yè)經(jīng)理人通過(guò)制造危機(jī)來(lái)獲得最大收益，達(dá)到掠奪的目的。金融危機(jī)時(shí)期，經(jīng)理人并不對(duì)銀行機(jī)構(gòu)（企業(yè)）前期的高風(fēng)險(xiǎn)政策負(fù)責(zé)，只

3、收獲危機(jī)前的收益。金融危機(jī)對(duì)于企業(yè)，要么破產(chǎn)要么度過(guò)危機(jī)；對(duì)于政府而言，或者救助或者放任自由。無(wú)論如何，如果度過(guò)危機(jī)，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(shí)可以獲得一筆補(bǔ)償，經(jīng)理人損失的只是其聲譽(yù)，但金融危機(jī)時(shí)期經(jīng)理人損失的聲譽(yù)具有系統(tǒng)性，其個(gè)人聲譽(yù)可以忽略不計(jì)，2、試結(jié)合國(guó)外分析我國(guó)有關(guān)部門(mén)規(guī)范相關(guān)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(guó)外分析我國(guó)有關(guān)部門(mén)規(guī)范相關(guān)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(guó)有關(guān)部門(mén)及時(shí)出臺(tái)相關(guān)政策來(lái)規(guī)范行業(yè)高管人員薪酬具有相當(dāng)?shù)谋匾裕@是因?yàn)椋海?）當(dāng)我國(guó)的金融機(jī)構(gòu)存在居高不下的不良資產(chǎn)率的同時(shí)，金融機(jī)構(gòu)卻是盈利的，以至于金融高管人員分配利潤(rùn)，而不良資產(chǎn)卻留給了社會(huì)公眾（2）金融高管人員通過(guò)從自己參股的金融機(jī)構(gòu)借貸，然后再通過(guò)關(guān)聯(lián)交易的方式，轉(zhuǎn)移資產(chǎn)，當(dāng)金融機(jī)構(gòu)破產(chǎn)時(shí)，企業(yè)貸款也就成為金融機(jī)構(gòu)不良資產(chǎn)的一個(gè)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(jī)構(gòu)的巨大不良資產(chǎn)漏洞，成為經(jīng)濟(jì)運(yùn)行的不穩(wěn)定因素，轉(zhuǎn)嫁給了社會(huì)公眾。這些因素促成了我國(guó)有關(guān)部門(mén)出臺(tái)相關(guān)制度來(lái)規(guī)范行業(yè)高管人員薪酬的必要性。3、請(qǐng)從所有者（國(guó)有企業(yè)股東）和政府部門(mén)的角度，提出規(guī)范我國(guó)企業(yè)特別是國(guó)有金融企業(yè)高管人員、請(qǐng)從所有者（國(guó)有企業(yè)股東）和政府部門(mén)的角度，提出規(guī)范我國(guó)企業(yè)特別是國(guó)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(duì)政府、國(guó)有企業(yè)股東、企業(yè)高管三者的利益在金融危機(jī)前的重合使監(jiān)管形同虛設(shè)，金融

6、危機(jī)后，國(guó)有企業(yè)股東損失巨大，而政府的損失更大，從國(guó)有企業(yè)股東和政府部門(mén)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(qiáng)民主監(jiān)督，對(duì)企業(yè)高管人員實(shí)施酬薪政策，完善制度，對(duì)高管人員的收益進(jìn)行管理（2）改變“一股獨(dú)大”的股權(quán)結(jié)構(gòu)，堵塞漏洞，對(duì)違規(guī)的高管人員采取更加嚴(yán)厲的懲罰措施（3）改變壞賬與利潤(rùn)分離的財(cái)務(wù)管理方式，分配利潤(rùn)必須要在以利潤(rùn)沖抵壞賬后方能進(jìn)行（4）嚴(yán)格執(zhí)行資本監(jiān)管原則，保證資本充足，通過(guò)資本監(jiān)管約束金融機(jī)構(gòu)內(nèi)業(yè)務(wù)夸張，

7、同時(shí)限制機(jī)構(gòu)外業(yè)務(wù)過(guò)度膨脹監(jiān)管。需要有效統(tǒng)計(jì)和監(jiān)測(cè)流出流人中國(guó)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(guó)各項(xiàng)經(jīng)濟(jì)指標(biāo)相關(guān)聯(lián)的模型，以便對(duì)境外人民幣進(jìn)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