The purpose of this study is to investigate the financial integration of the stock markets of the ASEAN 5 ＋ 3 countries. These countries include Indonesia, Malaysia, Philippines, Singapore, Thailand, China, Japan, an...The purpose of this study is to investigate the financial integration of the stock markets of the ASEAN 5 ＋ 3 countries. These countries include Indonesia, Malaysia, Philippines, Singapore, Thailand, China, Japan, and South Korea. The research determined the stock return volatility for each country＇s index during the first decade of the new millennium. The findings showed that there is the presence of integration and co-integration with Philippine index＇s return with the index＇s returns of the following countries： Indonesia, Singapore, and Thailand. Furthermore, there is evidence of volatility clustering in these stock markets. The study concluded with the policy implications of greater integration in light of the planned cross trading among four ASEAN bourses, namely, Philippines, Singapore, Thailand, and Malaysia by 2012.展开更多
In recent years, the reform of China's medical and health care system has been intensified, and the informatization level of the medical and health care industry has been improved. Financial integration management...In recent years, the reform of China's medical and health care system has been intensified, and the informatization level of the medical and health care industry has been improved. Financial integration management plays a very important role in strengthening the overall budget management. It is of great significance in optimizing the allocation of medical and health resources, coordinating various forces in hospitals, and promoting the improvement of economic benefits of hospitals. Therefore, from the perspective of comprehensive budget management, this paper makes a detailed analysis on how to implement comprehensive budget management in hospital financial integration system, and puts forward some effective suggestions.展开更多
This article elaborates on the necessity of promoting the integration of business and finance based on financial sharing,analyzes the measures and effects of implementing business and finance integration in enterprise...This article elaborates on the necessity of promoting the integration of business and finance based on financial sharing,analyzes the measures and effects of implementing business and finance integration in enterprises,points out the existing problems,and proposes strategies to optimize the integration from three aspects:building big data platforms,improving talent training plans,and improving financial shared information management platforms.展开更多
With the rapid development of economy and new technology, the development competition among enterprises in our country is more intense, and the level of financial management directly affects the more challenging compe...With the rapid development of economy and new technology, the development competition among enterprises in our country is more intense, and the level of financial management directly affects the more challenging competition among enterprises. Therefore, enterprises begin to attach importance to financial management. With the continuous improvement of financial information, the concept of business and financial integration has been applied to the financial management of enterprises. However, the information sharing effect between the financial department and the business department is poor, which makes the financial management work still needs to be improved under the integration of business and finance. This paper focuses on the analysis of financial management and the practical application of business and financial tolerance, mainly through the problems existing in the integration of business and finance, and puts forward more effective improvement measures for the enterprise direction. At the same time, the practical application of financial management under the integration of business and finance is described in detail.展开更多
The so-called "business and financial integration" refers to the sharing of information and data in various aspects, such as capital flow and information flow, between financial departments and business depa...The so-called "business and financial integration" refers to the sharing of information and data in various aspects, such as capital flow and information flow, between financial departments and business departments through the use of scientific and effective information technology, so as to enable enterprises to better implement relevant decisions and planning schemes. However, looking at the current situation of financial accounting in our country's enterprises, it can be seen that traditional financial accounting is mainly carried out in the form of accounting and supervision of accounting information afterwards, which can no longer meet the development needs of modern enterprises. In other words, if we want to realize the transformation of traditional financial accounting, we need to pay more attention to "business and financial integration". Based on this, the article carries out the following analysis on the key points of traditional financial accounting transformation under "business and financial integration".展开更多
In the digital age,digital operation management has become a key strategy for enterprises to enhance their core competitiveness.This paper explores in depth the implementation strategy of digital operation management ...In the digital age,digital operation management has become a key strategy for enterprises to enhance their core competitiveness.This paper explores in depth the implementation strategy of digital operation management based on the concept of financial integration.First,it analyzes the connotation and mutual relationship between financial integration and digital operation management and points out that financial integration provides the basis for data and business collaboration for digital operation management,and digital operation management is an important means to further promote financial integration.Then,from building a unified data platform,strengthening real-time data sharing and analysis,optimizing resource allocation models,strengthening cost control,and improving enterprise incentive mechanisms,it provides reference and reference for enterprises to realize efficient operation management based on the concept of financial integration in the process of digital transformation.展开更多
The B20 finance-driven growth taskforce provided four policy recommendations,including the optimization of global financial supervision,supporting stable growth of the world economy,the promotion of the development of...The B20 finance-driven growth taskforce provided four policy recommendations,including the optimization of global financial supervision,supporting stable growth of the world economy,the promotion of the development of green finance,and the pro-展开更多
In the context of the current business and financial integration, in order to improve the efficiency of enterprise accounting work, non-profit enterprises have higher standards and requirements for enterprise accounti...In the context of the current business and financial integration, in order to improve the efficiency of enterprise accounting work, non-profit enterprises have higher standards and requirements for enterprise accounting work and optimize the workflow of enterprise accounting personnel. This paper mainly focuses on the accounting process reengineering of non-profit enterprises under the background of business and financial integration, and puts forward suggestions and methods for solving the challenges and problems in the accounting process of traditional non-profit enterprises, hoping to provide some help to relevant staff so that the accounting process of non-profit enterprises can be better developed.展开更多
Management accounting serves to strengthen the internal management of enterprises and improve economic benefits. It uses a series of special methods to collect, summarize, analyze and report all kinds of economic info...Management accounting serves to strengthen the internal management of enterprises and improve economic benefits. It uses a series of special methods to collect, summarize, analyze and report all kinds of economic information, so as to make predictions and decisions, make plans, control business operations and evaluate performance, so as to ensure that enterprises can improve management and economic benefits. With the continuous development of Chinas market economy, the business involved by Chinese enterprises is becoming more and more complex, and the position of management accounting is becoming more and more important. Small and medium-sized enterprises have integrated their business and financial resources into their own enterprises. It can be seen that the application of management accounting under the integration of industry and finance in small and medium-sized enterprises plays a vital role in the development of enterprises. This paper analyzes the development status of management accounting in small and medium-sized enterprises under the current background by collecting relevant literature through HowNet Library and other channels, and makes in-depth analysis and research on its causes, solutions and prospects.展开更多
Following the accession to the WTO of China,bank card industry faces new competition pressure and challenges. At present, the most outstanding problem we face is, how to narrow the gap of development between the inter...Following the accession to the WTO of China,bank card industry faces new competition pressure and challenges. At present, the most outstanding problem we face is, how to narrow the gap of development between the international bank card industry and that of China and keep up with fast-developing paces of international bank card as soon as possible. Objectively speaking, bank card industry of our country is still at the initial stage.展开更多
China-Egypt economic relations have entered a phase of accelerated expansion,characterized by deepening financial integration,trade facilitation,industrial cooperation,and developmentoriented partnerships.Against the ...China-Egypt economic relations have entered a phase of accelerated expansion,characterized by deepening financial integration,trade facilitation,industrial cooperation,and developmentoriented partnerships.Against the backdrop of Egypt's Vision2030 and China's global economic outreach through the Belt and Road Initiative (BRI),bilateral cooperation has increasingly focused on finance,healthcare,digital trade,green development,and institutional coordination.展开更多
In this study,the impact of business and financial information integration(BFⅡ)on the voluntary management earnings forecasts(VMEFs)of listed firms in China between 2008 and 2018 is investigated.Drawing on litigation...In this study,the impact of business and financial information integration(BFⅡ)on the voluntary management earnings forecasts(VMEFs)of listed firms in China between 2008 and 2018 is investigated.Drawing on litigation cost and ability signaling theories,we find that the adoption of BFⅡencourages top managers to disclose VMEFs.BFⅡfirms are identified through the textual analysis of management discussion and analysis(MD&A)reports,and the empirical results indicate that BFⅡfirms have a higher probability and frequency of issuing VMEFs than non-BFⅡfirms.The results remain robust after we identify causality by applying a propensity score matching and difference-in-differences(PSM-DID)test and use an alternate measure of BFⅡ.Further tests show that BFⅡfirms issue more accurate VMEFs and are able to issue them at an earlier stage.We also find that the positive relationship between BFⅡand VMEFs is weakened if the media expresses concern about the uncertainty of BFⅡadoption.展开更多
Corporate sustainability reporting has become increasingly important in recent years.However,conventional approaches reach their limits when it comes to quantifying and measuring the actual sustainability performance ...Corporate sustainability reporting has become increasingly important in recent years.However,conventional approaches reach their limits when it comes to quantifying and measuring the actual sustainability performance of a company.This article presents a new approach:Sustainable Performance Accounting(SPA),which is based on an extension of bookkeeping by including ESG bookkeeping.SPA enables companies to systematically measure and manage their sustainability performance.The article provides an overview of the basics of SPA methodology and uses a comprehensive example showing how SPA can be implemented in practice.The article is aimed at interested readers from science and practice as well as decision-makers who are interested in future-oriented sustainability reporting.展开更多
While financial or trade integration between countries may mcrease the size of the market and aid the adoption of more advanced technologies, will it also increase the level of urban unemployment for a developing coun...While financial or trade integration between countries may mcrease the size of the market and aid the adoption of more advanced technologies, will it also increase the level of urban unemployment for a developing country？ In this model, there is unemployment in the urban sector. Manufacturing firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Financial firms provide capital to manufacturing firms and they also engage in oligopolistic competition. We show that an increase in the wage rate in the manufacturing sector changes neither the level of technology nor the level of employment in the manufacturing sector. While financial or trade integration between developing countries leads manufacturing firms to adopt more advanced technologies, the level and rate of employment in the manufacturing sector will not deteriorate.展开更多
By virtue of the US markets closing later than Asia-Pacific(AP)markets,returns observed in the US include information not reflected in AP until the next day.Provided there is enough integration among markets,this asym...By virtue of the US markets closing later than Asia-Pacific(AP)markets,returns observed in the US include information not reflected in AP until the next day.Provided there is enough integration among markets,this asymmetry should then generate Granger causality from the US returns towards returns in the AP region.It is thus obvious that when testing for Granger causality among the Western and AP markets,interdependence due to non-synchronicity should be clearly identified and factored out.Our novel method is to measure contagion,usually defined as excessive market integration during crises,as excess interdependence beyond the non-synchronicity induced.We test for contagion of the 2008 Financial Crisis from the US to AP.The unmistakable emergence of a new cointegration relation that intertwines the US and AP markets only during the crisis,but not before,presents evidence of long-run contagion,that is a new channel that transmits crisis-related info.We find strong contagion from US to Korea,no contagion to Hong Kong,and Australia is a mixed case.Our explanation is that the Korean economy is the most vulnerable due to its export orientation,Hong Kong becomes disentangled due to its relation to China,which is consistent with the theory of‘decoupling’of China,and the Australian case is somewhere in the middle,probably due to its close ties to the US but also its strong reliance on natural resources and gold.展开更多
文摘The purpose of this study is to investigate the financial integration of the stock markets of the ASEAN 5 ＋ 3 countries. These countries include Indonesia, Malaysia, Philippines, Singapore, Thailand, China, Japan, and South Korea. The research determined the stock return volatility for each country＇s index during the first decade of the new millennium. The findings showed that there is the presence of integration and co-integration with Philippine index＇s return with the index＇s returns of the following countries： Indonesia, Singapore, and Thailand. Furthermore, there is evidence of volatility clustering in these stock markets. The study concluded with the policy implications of greater integration in light of the planned cross trading among four ASEAN bourses, namely, Philippines, Singapore, Thailand, and Malaysia by 2012.
文摘In recent years, the reform of China's medical and health care system has been intensified, and the informatization level of the medical and health care industry has been improved. Financial integration management plays a very important role in strengthening the overall budget management. It is of great significance in optimizing the allocation of medical and health resources, coordinating various forces in hospitals, and promoting the improvement of economic benefits of hospitals. Therefore, from the perspective of comprehensive budget management, this paper makes a detailed analysis on how to implement comprehensive budget management in hospital financial integration system, and puts forward some effective suggestions.
基金Research on Enterprise Finance Integration Based on Financial Sharing Model,2022 Jiangsu Province Philosophy and Social Science Project(Project No.2022SJYB1560)Research on Transformation of Applied Undergraduate Accounting Talent Training Model in the Digital Era,2022 School Education Reform Project(Project No.SJY20230119)。
文摘This article elaborates on the necessity of promoting the integration of business and finance based on financial sharing,analyzes the measures and effects of implementing business and finance integration in enterprises,points out the existing problems,and proposes strategies to optimize the integration from three aspects:building big data platforms,improving talent training plans,and improving financial shared information management platforms.
文摘With the rapid development of economy and new technology, the development competition among enterprises in our country is more intense, and the level of financial management directly affects the more challenging competition among enterprises. Therefore, enterprises begin to attach importance to financial management. With the continuous improvement of financial information, the concept of business and financial integration has been applied to the financial management of enterprises. However, the information sharing effect between the financial department and the business department is poor, which makes the financial management work still needs to be improved under the integration of business and finance. This paper focuses on the analysis of financial management and the practical application of business and financial tolerance, mainly through the problems existing in the integration of business and finance, and puts forward more effective improvement measures for the enterprise direction. At the same time, the practical application of financial management under the integration of business and finance is described in detail.
文摘The so-called "business and financial integration" refers to the sharing of information and data in various aspects, such as capital flow and information flow, between financial departments and business departments through the use of scientific and effective information technology, so as to enable enterprises to better implement relevant decisions and planning schemes. However, looking at the current situation of financial accounting in our country's enterprises, it can be seen that traditional financial accounting is mainly carried out in the form of accounting and supervision of accounting information afterwards, which can no longer meet the development needs of modern enterprises. In other words, if we want to realize the transformation of traditional financial accounting, we need to pay more attention to "business and financial integration". Based on this, the article carries out the following analysis on the key points of traditional financial accounting transformation under "business and financial integration".
文摘In the digital age,digital operation management has become a key strategy for enterprises to enhance their core competitiveness.This paper explores in depth the implementation strategy of digital operation management based on the concept of financial integration.First,it analyzes the connotation and mutual relationship between financial integration and digital operation management and points out that financial integration provides the basis for data and business collaboration for digital operation management,and digital operation management is an important means to further promote financial integration.Then,from building a unified data platform,strengthening real-time data sharing and analysis,optimizing resource allocation models,strengthening cost control,and improving enterprise incentive mechanisms,it provides reference and reference for enterprises to realize efficient operation management based on the concept of financial integration in the process of digital transformation.
文摘The B20 finance-driven growth taskforce provided four policy recommendations,including the optimization of global financial supervision,supporting stable growth of the world economy,the promotion of the development of green finance,and the pro-
文摘In the context of the current business and financial integration, in order to improve the efficiency of enterprise accounting work, non-profit enterprises have higher standards and requirements for enterprise accounting work and optimize the workflow of enterprise accounting personnel. This paper mainly focuses on the accounting process reengineering of non-profit enterprises under the background of business and financial integration, and puts forward suggestions and methods for solving the challenges and problems in the accounting process of traditional non-profit enterprises, hoping to provide some help to relevant staff so that the accounting process of non-profit enterprises can be better developed.
文摘Management accounting serves to strengthen the internal management of enterprises and improve economic benefits. It uses a series of special methods to collect, summarize, analyze and report all kinds of economic information, so as to make predictions and decisions, make plans, control business operations and evaluate performance, so as to ensure that enterprises can improve management and economic benefits. With the continuous development of Chinas market economy, the business involved by Chinese enterprises is becoming more and more complex, and the position of management accounting is becoming more and more important. Small and medium-sized enterprises have integrated their business and financial resources into their own enterprises. It can be seen that the application of management accounting under the integration of industry and finance in small and medium-sized enterprises plays a vital role in the development of enterprises. This paper analyzes the development status of management accounting in small and medium-sized enterprises under the current background by collecting relevant literature through HowNet Library and other channels, and makes in-depth analysis and research on its causes, solutions and prospects.
文摘Following the accession to the WTO of China,bank card industry faces new competition pressure and challenges. At present, the most outstanding problem we face is, how to narrow the gap of development between the international bank card industry and that of China and keep up with fast-developing paces of international bank card as soon as possible. Objectively speaking, bank card industry of our country is still at the initial stage.
文摘China-Egypt economic relations have entered a phase of accelerated expansion,characterized by deepening financial integration,trade facilitation,industrial cooperation,and developmentoriented partnerships.Against the backdrop of Egypt's Vision2030 and China's global economic outreach through the Belt and Road Initiative (BRI),bilateral cooperation has increasingly focused on finance,healthcare,digital trade,green development,and institutional coordination.
基金financial support from the National Natural Science Foundation of China(Grant No.71902210)the Youth Research Fund of the Ministry of Education for Humanities and Social Sciences(Grant No.19YJC630092)+2 种基金the Program for Innovation Research in Central University of Finance and Economics(Grant No.CUFE 20190111)Social Science Foundation of Guangdong Province of China(Grant No.GD19CGL05)Graduate Research and Innovation Fund Project of Central University of Finance and Economics(Grant No.20182Y006)
文摘In this study,the impact of business and financial information integration(BFⅡ)on the voluntary management earnings forecasts(VMEFs)of listed firms in China between 2008 and 2018 is investigated.Drawing on litigation cost and ability signaling theories,we find that the adoption of BFⅡencourages top managers to disclose VMEFs.BFⅡfirms are identified through the textual analysis of management discussion and analysis(MD&A)reports,and the empirical results indicate that BFⅡfirms have a higher probability and frequency of issuing VMEFs than non-BFⅡfirms.The results remain robust after we identify causality by applying a propensity score matching and difference-in-differences(PSM-DID)test and use an alternate measure of BFⅡ.Further tests show that BFⅡfirms issue more accurate VMEFs and are able to issue them at an earlier stage.We also find that the positive relationship between BFⅡand VMEFs is weakened if the media expresses concern about the uncertainty of BFⅡadoption.
文摘Corporate sustainability reporting has become increasingly important in recent years.However,conventional approaches reach their limits when it comes to quantifying and measuring the actual sustainability performance of a company.This article presents a new approach:Sustainable Performance Accounting(SPA),which is based on an extension of bookkeeping by including ESG bookkeeping.SPA enables companies to systematically measure and manage their sustainability performance.The article provides an overview of the basics of SPA methodology and uses a comprehensive example showing how SPA can be implemented in practice.The article is aimed at interested readers from science and practice as well as decision-makers who are interested in future-oriented sustainability reporting.
文摘While financial or trade integration between countries may mcrease the size of the market and aid the adoption of more advanced technologies, will it also increase the level of urban unemployment for a developing country？ In this model, there is unemployment in the urban sector. Manufacturing firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Financial firms provide capital to manufacturing firms and they also engage in oligopolistic competition. We show that an increase in the wage rate in the manufacturing sector changes neither the level of technology nor the level of employment in the manufacturing sector. While financial or trade integration between developing countries leads manufacturing firms to adopt more advanced technologies, the level and rate of employment in the manufacturing sector will not deteriorate.
文摘By virtue of the US markets closing later than Asia-Pacific(AP)markets,returns observed in the US include information not reflected in AP until the next day.Provided there is enough integration among markets,this asymmetry should then generate Granger causality from the US returns towards returns in the AP region.It is thus obvious that when testing for Granger causality among the Western and AP markets,interdependence due to non-synchronicity should be clearly identified and factored out.Our novel method is to measure contagion,usually defined as excessive market integration during crises,as excess interdependence beyond the non-synchronicity induced.We test for contagion of the 2008 Financial Crisis from the US to AP.The unmistakable emergence of a new cointegration relation that intertwines the US and AP markets only during the crisis,but not before,presents evidence of long-run contagion,that is a new channel that transmits crisis-related info.We find strong contagion from US to Korea,no contagion to Hong Kong,and Australia is a mixed case.Our explanation is that the Korean economy is the most vulnerable due to its export orientation,Hong Kong becomes disentangled due to its relation to China,which is consistent with the theory of‘decoupling’of China,and the Australian case is somewhere in the middle,probably due to its close ties to the US but also its strong reliance on natural resources and gold.
