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These all call for the well-knit academic and professional researches in risk exposure, risk measurement to risk control.

所有这一切都要求对于发行市政债券所带来的信用风险的扎实的学术与专业的研究,从风险暴露,风险测量到风险控制。

Due to the reasons above, the risk problem in the Transnational Corporation financial management is chosen as the subject., with the help of the relevant studies of financial engineering, the risk management and the enterprise management, in this paper the antitheses, the taxonomy and the financial analysis are used to probe into how to improve the capability of risk management in Chinese Transnational Corporation and carry out the financial management based on all the risks in practice.

介于以上原因,本题在跨国公司财务管理问题研究中选择了风险问题作为写作的对象,本文运用了对比法、分类法和财务分析法等,并引入了金融工程学、风险管理学、企业管理学等相关学科的内容,从实际应用的角度出发,探讨如何提高我国跨国公司财务管理中的风险管理能力,实施各项风险基础财务管理工作。

According to the international methods of pest risk analysis and characteristics of urban forestry in Beijing,a quantitative risk assessment system in Beijing for the main non-indigenous pests was proposed.This system was used to analyze three non-indigenous species, Dendroctonus valens,Hyphantria cunea and Apriona swainsoni. The results show that the risk of these three species in the Beijing area is 2.46, 2.30 and 2.02, all highly risky.

该文参照国际上有害生物风险分析方法,结合北京地区城市林业特点,提出北京地区重大外来有害生物风险量化评估体系,并应用该评价体系,进行了红脂大小蠹、美国白蛾、锈色粒肩天牛对北京地区的风险评价。3种有害生物的量化评估值分别为红脂大小蠹2.46、美国白蛾2.30和锈色粒肩天牛2.02,因此对北京地区而言,3种昆虫皆为具高度风险的森林有害生物。

Information technology is believed to produce considerable influence on all of the five basic elements of an enterprise' s internal control system:(1 )"Horizontalization" of the enterprise' s organizational structure is possible, the control group becomes the best form of the enterprise' s autonomous control and the enterprise's control limit is expanded;(2) The range of risk control is enlarged, which increases the risk of the enterprise staff's involvement in decision-making and meanwhile provides an instrument for risk control;(3) The difficulty and complexity of internal control increases;(4) The enterprise information system gets vulnerable to illegal intervention;(5)The enterprise' s internal control takes the form of man-machine model.

企业内部控制是企业为保护其资产安全,保证信息的完整和正确,促进经营管理政策得以有效实施,提高经营效率,控制经营风险,防止舞弊行为发生,并进而实现企业目标的一项重要的管理制度与方法,它由控制环境、风险评价、控制活动、信息与沟通、监控等相互关联的五个基本要素构成。在信息技术环境下,企业内部控制系统的五个要素构成的框架体系并未发生实质性的改变,但企业信息环境的急剧变化,给企业内部控制带来了新的问题与挑战,影响并改变着企业内部控制要素的具体内容与表现特征。

All these inputs must been scientifically given proportion between development-oriented and indemnificatory inputs on base of utility analysis,then, optimal-combination of disaster reduction inputs by government and risk management inputs by enterprise, as well as controlled-capable risk and dispersing risk inputs of enterprise are attainted, and finally, come at the point of maximum benefits of enterprise.

这些投入主体应在效益分析的基础上,科学确定发展性投入和保障性投入的比例关系,实现政府减灾投入和企业风险管理投入的最优组合,企业可控风险和分散风险投入的最佳组合,实现投入产出效益最大化。

Therefore, it can be regarded as a great improvement of the investment decision-making theory and methods .This article makes a systematic research on real options theory and method and its application, including the following several main aspects:Firstly, it makes a detailed discussion about the common theoretical basis of financial options and real options, including no-arbitrage equilibrium principle, risk-neutral definition, complete market and dynamic tracking.Secondly, it analyze three basic characteristic of investment decision-making in modern market economic system: irreversibility, uncertainty and flexibility, and from the angle of their mutual quantitative and qualitative interactions, it makes a comparison between the traditional NPV methods and real options methods and makes a summary of the general analytical methods of real options.Thirdly, it discusses the all elements in the application of real options such as the ^leakages in value of real assets, basis risk, and private risk, and furthermore, it attempts to put forth a normalized strategy of its application and construct a basic framework of its application.Fourthly, it applies real options theory to strategetic investment of enterprises and the buy-out of company, putting forth a value model for strategetic investment program and making a concrete analysis of its application to buy-out. Furthermore, it advocates that a flexible investment decision-making system should be setup according to real options theory in our country.

本文对实物期权理论和方法及其应用进行了系统研究,主要内容包括如下几个方面:(1)详细讨论了金融期权和实物期权共同的理论基础,主要包括无套利均衡原理、风险中性定义、完全市场以及动态复制方法,对这些理论方法的探讨既是本文的出发点和基础,它们提供了研究实际应用实物期权的一个基准点,也是贯穿全文的线索和灵魂;(2)分析了现代市场经济体系中投资决策的三个基本特征即不可逆性、不确定性和时机选择,并从它们数量上和质量上相互作用的重要意义的角度,分析了传统的净现值法与实物期权方法的差异,指出了净现值法在不确定环境中存在的缺陷及实物期权处理投资灵活性的价值,并将净现值法纳入实物期权投资分析决策体系当中,总结了企业投资决策实物期权的一般分析方法;(3)探讨了实物期权应用中要考虑的各种要素,如实物资产的价值漏损、基差风险和非市场风险等,并进一步提出了实物期权应用的规范化策略和构建了一个实际应用实物期权方法的基本框架,尝试将期权的基本原理与企业在现实经济环境中投资决策的要素结合起来,从而可以在一定程度上超越期权的复杂的数学计算而汲取期权思想的精华,从而促进期权决策方法在实际投资决策中的应用;(4)将实物期权方法应用于企业战略投资,得出了战略投资项目的价值模型,指出可以将实物期权理论和方法应用于企业并购,分析了应用的具体方面,并提出应根据实物期权理论建立一套适合我国企业的灵活的投资决策系统。

Compared with the original Basle Capital Accord, the new one requires the according capital of all risks including credit risk, market risk and operational risk, and puts forward a series of progressive methods of measuring the capital which can be flexibly choused by banks.

新协议将监管重点从原来单一的最低资本充足水平转向银行内部的风险评估体系的建设状况上来,强调了监管当局的监督检查和市场纪律对最低资本规定的补充作用。

So I think finding the balance is important and stratifying the patients into high risk for bleeding, or high risk for heart attack or high risk for stroke, they are all very important as we go forward.

现在我们意识到此观点不正确。在有心脏疾病的患者当中同时使用两者是安全的。

SMEs have great management risk because they are usually of little scale and feeble in keeping themselves from risk. Superadded that there are some problems such as irrational financing structure and serious information asymmetry occur in SME financing. All these bring on great risk in SME financing.

中小企业由于其规模小,抗风险能力弱,因而存在着较大的经营风险,再加上中小企业融资活动中存在着融资结构不合理、严重的信息不对称等问题,使得中小企业融资具有较大的风险性。

The first step,this thesis evaluates the whole risk level of the port investment project. On the risk analysis,this thesis sets an index system for evaluation. The system comprehensively reflects risks on port investment projects. It has taken all the risks, through the construction to the running process of port investment projects into account,and numbers the index by experts investigation,then valuates the whole risk level of the project by fuzzy mathematics methods which is comprehensive, clear, effective and clean.

进行风险识别,建立起一套适合港口建设项目风险评价的指标体系,这套体系比较全面地反映了港口建设项目的主要风险;然后采取专家调查法对各因素权重赋值,并通过专家评审委员会对某一具体港口建设项目实例中各因素的风险程度进行判断,采用模糊综合评判法对该项目整体的风险程度进行评估,把定性与定量相结合,全面、清晰、有效、简洁评判港口投资风险。

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