Analysis on Development Tendency of Financial Management

Financial mechanism should be put in force under certain circumstance. Based on the practice in China, this paper investigates the tendency of development of financial management, that is from normative approach to positive approach, qualitative analysis to quantitative analysis, tangible assets to intangible assets and basic financial instrument to derivative financial instrument. The objective of the research is to develop the financial management theory and make good use of the financial management skills.     

Correlation between Financial Development and Industrial Growth in China

A brief introduction of literature on the nexus of financial development and growth in the economy is given first. In the light of traditional thinking over the nexus of financial development and growth, an empirical analysis,by the method of SURE in the framework of two sector model, of the causality of China financial development and industrial growth is carried out covering the relative data since the adoption of reform and open policy.The externalities of finance over industry and industry over tinance show that the supply leading version is prevalent in the chines economy. Finally the policy implication is suggested.     

Research and Design for Agent-Based Distributing Computation Structure of Local Government Financial Risk Budget Edit System

Keeping away and eliminating financial risk is one of the main tasks of every rank government. To solve the problem of local financial risk, a method that constructs a Multi-agent system to edit local financial risk budget is presented. Categorizing the owns of government that give rise to local financial risk, scheming four owns agents, scheming cooperative agent and some auxiliary agents to constitute the system are also proposed. Meanwhile, the agent-based distributing computation structure of the system is given, and the basic structure of agent and the cooperation mechanism of those agents are discussed.     

The Legal Reflection on Establishing the ModernFinancial Supervision System in China

The marketization, internalization and electronization of financial industry in China are inevitable. Adapted to this situation, the financial supervision has to be strengthened. The modern financial supervision system is the base and guarantee to strengthen the financial supervision; it has the character of unity of supervision organization, perfect instrument of supervision, harmonization of supervision legality and internalization of supervision thought etc. Establishing the modern financial supervision of China should consummate the financial supervision legal institutions in China. Although the laws were constituted, such as and some related regulations, yet cannot conform to the WTO rules and the market economy development and be not enough to structure the legal institution base of the modern financial supervision in China. As a result, it has to be revised further, improved and to work out financial laws and regulations in order to form a modern financial supervision system in our country.     

The Capital Structure Choice of Financial Distressed Firms: Evidence from China

To study on how to choose the optimal capital structure for financial distressed listed firms,the difference of the factors influencing the capital structure and the adjusting procedure between non-distressed firms and distressed firms is analyzed.It shows that the high debt ratio of the distressed firms is significantly related with the proportion of the largest shareholder and the concentration of the share structure.However,the proportion of largest shareholder has little effect on the adjustment of capital structure.Therefore,to solve the problem of distressed firms,it will depend not only on the improvement of corporate governance,but also on the optimization of financial channels.     

An Analysis of Impacts of Financial Engineering on Corporate Capital Structure

After reviewing the capital structure theories briefly,the paper researches the impact of financial engineering on corporate capital structure .The model analysis shows that financial engineering can decrease the cost of capital, then improve the financing capacity and effect the rate of debt.Executive Stock option improves managerial incentives and is a challenge to capital structure managerial incentives theory.     

Economic Analysis of the Financial Supporting Policy in the Economic Development Zones

This paper makes an economic analysis of the Financial Supporting Policy to invite outside investments in the Economic Development Zones(EDZs),deduces the formula of the optimal ratio of the quantity of financial support to the local financial income and draws figures of the curve.The EDZs should consider the effectiveness of financial subsidy before they use this policy;technical progress is the precondition of subsidy.The Financial Supporting Policy should first help those industries that can promote local economic growth best get subsidy.Under the conditions of low initial economic level and subsidy combining with other preferred policies,the ratio of financial subsidy should reduce;properly by prolonging the time limit and the EDZs' paying more attention to long-run objection lead to lower subsidy ratio.     

Warning of Financial Crises Based on Proportional Hazard Model

Four main warning models including FR, STV, KLR, and DCSD are used to study and construct the warning system of financial crises, and these models having some particular require to data makes it difficult to apply and insufficiency of forecasting ability. Using proportional hazard model brought forward by Cox and Oakes, the paper constructs an early-warning model of financial crises, and demonstrates 13 variables one -year before financial crises. The verifying of this model deems it good to warn the financial crises.     

Controlling Model of Company''s Financial Index

In a mature, standard and perfect securities market, with the interaction relationship each financial data, we build a model of a union equation. In terms of the data of years data, we can estimate the parameters of the theory of financial control, the managers and investors can control reasonably the process to the object of financial measures system, through some relevant financial measures data. In the opposite, they also can calculate the financial measures data of the firm by the optimum controllable variable.     

An Empirical Study on the Relationship between Economic Growth and Financial Development

This paper discusses the relationship between financial development and economic growth. Some essential Chinese macroeconomic datum during late twenty years which include Gross Domestic Product (GDP) of the whole economy,state and private sectors,investment in fixed Assets,financial relative rate and real interest rate estimated in a multivariate vector auto regression (VAR) framework. The estimates suggest that financial development boosts GDP growth, and it does not exist in reverse.     

An Estimate on the Casual Relation between Financial Development and Economic Growth

This paper firstly discusses the relationship among money,real interest rate and economic growth of China. Then estimates the causality between financial development and economic growth by Bivariate Granger Casual Relation Test. The conclusion suggests that economic growth stimulate financial development more in China.     

Adjustive Mechanism Design Based on Planar Constraint Uncertainty

For normal planar closed chain mechanism, it is based on ideal planar constraint condition. The authors took crank leader mechanism as an example, and analyzed influences resulted from uncertain factors, such as manufacturing error. The result shows it belongs to statically indetermination mechanism. After analyzing its over-constraint and eliminating it, in this way, it become statically determination mechanism and can be assembled without obstacle. However, in the process of practical running, the mechanism can give birth to new kinematic constraint, frictional constraint and dynamic constraint etc., so over constraint emerges again. Therefore, it is necessary to analyse its adaptability in total running process. The conclusion shows that design of adaptability mechanism normally eliminate geometry over constraint at first, then it is analyzed that whether there is new over constraints from all kind of external constraints in the process of running.     

Application of Risk Analysis to the Financial Evaluation of Construction Projects

Every sort of financial indexes of the construction project is a value occurred in future. It has a random character, so the estimation of these indexes in early stage is surely a matter of risk. In practice, the investors often choose a construction project only by simple estimation rather by deep financial evaluation and risk analysis. In this paper, taking the project NPV as an example and applying risk analysis to its estimation, the authors develop a totally new economic evaluation method for construction projects.     

System of Financial Management in Branch Organization of Web-based Firm in Different Place

Information technique,espcialling network technique on the development and application in the manufacturing firms,has made working activity of them from innner data processing to resource's controlment and management(united) by time and space gradually.Financing information in the firm is the foremost managing information,and how to manage the financing systems of ecedemic branch organizations of the firms compositively in the network environment is a crucial subject.This paper gives a supporting web-based system of finacial management,establishes the sturcture of this system and researches the key techinique on system exploit and inner financial system of firm based the need of finacial management in the most of firms when they place branch organization in different place.At last,the authors certificate this system effective and pratical through the real examples.     

Application of Simulation Method on the Financial Evaluation of Construction Projects

In order to provide a reliable foundation for project decision, some sorts of financial indexes of the project, such as NPV, IRR etc, should be accurately estimated out in the earlier stage. However, these indexes appear in the future randomly, and their estimation in the earlier stage is at risk. In this paper, taking the project's NPV as example and applying simulation method to its estimation, the authors developed a comparatively objective evaluation method of construction projects. Furthermore, the outcome of the simulation method is tested by comparing it with the result of another evaluation method.     

Fuzzy Clustering Theory for Analyzing Intrusion Detection Data

Intrusion detection system is an important component of the computer and information security framework. Its main goal is to differentiate between normal activities of the system and behaviors that can be classified as suspicious or intrusive, and its main challenge is to efficiently detect intrusion detection behaviors for reducing false positive rate and false negative rate. In view of the disadvantages of the existing intrusion detection methods, fuzzy c-means(FCM) clustering method is used to analyze intrusion detection data in order to detect anomaly network behavior patterns. Experimental results on the CUP99 data set data show that this method can not only feasible but also improve the accuracy and efficiency.     

Discussion on Establishment and Developmentof Policy Housing Financial System in China's Cities

China has a large population of 1.2 billion.To solve the housing problem of middle_low income families and realize a condition,under which people can live in peace and work contentedly,a policy housing financial system(PHFS)with Chinese characteristics must be established.PHFS is a special financial area.The combination of financial relationships,forms and methods related to the purchase,construction or rehabilitation of housing for middle_low income families,is the core of policy housing financial system.It has real meaning for studying theory and practice of PHFS,its role in development of housing industry,and promoting economic growth of the country,civilization and progress of the society.     

Behavior of Velocity of Money in China:1980-2000

This paper studies the behavior of velocity of money in China from 1980 to 2000, the result shows the long-run velocity of money is declined, but the short-run velocity of money is fluctuated with economic periods. We consider the main determinants of circulation velocity to be financial development, economic system, and economic periods.     

Functional source separation to finger tappingrelated magnetoencephalography signal

It has been verified that the ICA can isolate sources from multi channel magnetoencephalography (MEG) signals. Based on the route of constrained ICA (cICA), this paper achieves a new solution of MEG inverse problem called functional source separation (FSS) by adding a functional constraint to the cost function of a basic ICA model. Source activity is obtained by applying this method to one MEG signal dataset under a self paced finger tapping task. The result is proved effective by calculating correlation coefficients between the weight vectors of function source separation method and the spatial filter coefficients of SAM method. It is found that finger tapping related functional source was localized in motor cortex of precentral gyrus. At the same time, the temporal and frequency information provided by FSS method could be a basis of exploring cortical control timing mechanisms associated with finger movements and extracting time frequency characteristics of the functional source.     

Financial SEM Analyzing on Stock Evaluation in Circulation of China

Now the appraisement of stock market of China is still in the exploring phases. When stocks are appraised, people usually use expert-method or history-method aiming at different factors, especially the confirming of the factors that affect the stock evaluation and the interaction between different factors are not analyzed quantitatively, resulting in the stagnation of next researches on the whole.By applying the SEM to stock evaluation of Chinese stock market, we build a financial structural model, analyzes the influence to stock evaluation of each factor and build the experience mode value of stock evaluation of China. This can be consulted by stock evaluation and credit evaluation of China.