Foundation of Systematic Financial Risk Analysis
A systamatic financial risk inevitably comes from a financial system.A financail system is exactly the institutional layer of a financial management system, which is also exactly the credit institutional system.The credit institutional system is the ties that combine each micro-economy main-players on a society to form the unified macro-economy.The credit institutional system model not only involves macro-level but also micro-level.It must answer the problem on two-levels to set up credit institutional system model.On the macro-level, which forms of credit institution constitute of a societys credit institutional system, what is the relation among each other; on the medium or micro-level, what are the main factors which compose of each credit institution form? What is the operational mechanism? It can be concluded that the credit institutional system is constituted by five kinds of credit institution form, they are farmland financial institution, national credit institution, bank credit institution, industrial and commercial enterprise credit institution and consumer credit institution.The internal mechanism of the five kinds of credit institution form has a common character, namely they can reduced to a balance sheet with risk and uncertainty.Thus, we can take the Hicks risk function as the core to build up the credit mechanism model and take the improved CD function to set up the credit institutional system model.Credit institutional system model can be used as the foundation of systematic financial risk analysis.
Hicks risk function Credit mechanism model Credit institutional system model Systematic financial risk
Wang Xuanqing Wang Leirong
Business College, Guangxi University, Nanning, Guangxi, 530004
国际会议
The 5th Conference on Chinas Economic Operation Risk Management(2011`Shanghai)(第五届中国立信风险管理论坛)
上海
英文
284-289
2011-11-04（万方平台首次上网日期，不代表论文的发表时间）