英语翻译“Financial ecology” does not refer to the internal operation of the financial institutions.Instead ,it refers to the external environment,or the basic conditions for financial operations.The legal framework,including the laws and regu

英语翻译“Financial ecology” does not refer to the internal operation of the financial institutions.Instead ,it refers to the external environment,or the basic conditions for financial operations.The legal framework,including the laws and regu
英语翻译
“Financial ecology” does not refer to the internal operation of the financial institutions.Instead ,it refers to the external environment,or the basic conditions for financial operations.The legal framework,including the laws and regulations that protect the interests of investors and depositors,the accounting standards and the bankruptcy law,is a key component of financial ecology.Concerted efforts from all sections of the society are needed to improve financial ecology.First,efforts should be made to improve the legislation and law enforcing system.Bankruptcy law is of utmost importance.With well-developed bankruptcy law,the lenders will be able to resort to legal procedures to protect their rights.Second,the reform of the corporate sector including the state-owned enterprises should be accelerated.third,steps need to be taken to establish and improve the social credit system.Fourth,the accounting,auditing and information disclosure standards should be improved.Fifth,the intermediary agencies need to improve thir services.
In a changed market environment,fund managers are taking an increasing amount of responsibility for their investments,raising the profile and importance of in-house research.”Post-september 11,no-one wants to rely on external research,” says Marino Valensise,head of fixed income at Baring Asset Management.
In this market,it is hard to know if your opinion is right or wrong,If you make a mistake,you at least want to know it was based on your view rather than some one else’s.Of course,we still speak to investment band analysts but the final decision has to be made in-house,” he adds.
Buy-side credit analysts are working much more closely with their in-house equity counterparts.At one major investor,channels of communication hace been opened between the two sides so that corporate investment is much more consistent.A bond investor overweight the equivalent stock,but the fund manager will have to justify the reasons for a contrary position.
Sell-side research is not the only area of influence that languishes.As one investor says,annual reports are designed for the population at large and hold little value for a professional investors want to form their own opinions.Issuers can make a difference.After price,the most important factors in a buy/sell decision are knowledge and understanding of the issuer.

英语翻译“Financial ecology” does not refer to the internal operation of the financial institutions.Instead ,it refers to the external environment,or the basic conditions for financial operations.The legal framework,including the laws and regu
“金融生态”并不是指金融机构的内部调控.而是指金融调控的外部环境或基本条件.一个合法的架构包括能够保护投资者和储户利益的
法律和规章,会计标准法和破产法是金融生态的关键组成部分.金融生态的发展需要社会各部门的共同努力.第一,我们必须在对完善立法执法系统做出努力.破产法是非常重要的.通过完善的破产法贷方就能够启用合法的程序来保障他们的权利.第二,对社团部门包括国有企业的改革需要加速.第三,要采取计划来建立和完善社会信用体系.第四,会计标准,审计标准,信息公开标准需要提高.第五,中介机构要提高他们的服务质量.
在一个变化了的市场环境中,资金管理者将对他们的投资承担更多的责任,将提高机构内部研究的重要性和形象.“Post-september 11,没人想要依靠外部研究,”霸菱资产管理公司的固定收益部门的负责人Marino Valensise说道.“在市场中,想要知道你的观点的对错极其困难,如果你犯了一个错误,至少你知道它以你的观点为基础而不是别人的.当然了,我们仍然要听取投资团队分析家的的意见但是决定还是我们自己做的.”他补充说.卖方的信用分析师和他们机构里的同僚们工作在一起.在大投资项目中,双方交流的通道被开通这样社团间的投资才会更加一致.一个超出了与之持有股份相当的债券投资人,但是资金管理者要对对立姿态提供存在依据并且为之辩护.卖方研究不是唯一一个影响力在减弱的领域.正如一个投资者这样说道,年度报告是为大多数人而设计的而对有着他们自己看法的专业投资者没有太多价值.发行者能够改变一些事情.除了价格,使买卖双方作出决定最重要的因素是对发行者的了解和认识.
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