为了应对电子支付环境下管理会计所面临的复杂风险,本文深入探讨了电子支付对信息安全、资金管理、内部控制和法律合规等方面的影响。通过定性分析方法,本文系统分析了电子支付环境中的主要风险特征与管理挑战,识别出风险的主要来源及其特点。研究发现,电子支付技术极大提升了支付效率和便利性,但也集中带来了信息安全、资金流动、法律合规和内部控制等方面的风险问题,具体表现为网络攻击风险、数据泄露、资金链断裂风险及合规性挑战。为降低这些风险,本文建议企业应从多方面加强风险管理,包括引入高级加密技术与多重身份验证以强化信息保护,建立实时监控系统优化资金管理流程,构建分级权限管理机制及完善内部控制流程以防范操作风险,并建立系统化的合规风险评估流程,严格遵守数据保护、反洗钱等法规要求。通过这些综合管理措施,企业可提升财务管理的稳健性与抗风险能力,为在电子支付环境中的可持续发展提供有力支持。In order to address the complex risks faced by management accounting in the electronic payment environment, this article explores in depth the impact of electronic payments on information security, fund management, internal control, and legal compliance. Through qualitative analysis methods, this article systematically analyzes the main risk characteristics and management challenges in the electronic payment environment and identifies the main sources and characteristics of risks. Research has found that electronic payment technology has greatly improved payment efficiency and convenience, but it has also brought about risks in information security, fund flow, legal compliance, and internal control, specifically manifested as network attack risks, data breaches, fund chain breakage risks, and compliance challenges. To reduce these risks, this article suggests that enterprises should strengthen risk management from multiple aspects, including introducing advanced encryption technology and multiple identity authentication to enhance information protection, establishing real-time monitoring systems to optimize fund management processes, building hierarchical permission management mechanisms and improving internal control processes to prevent operational risks, and establishing a systematic compliance risk assessment process to strictly comply with regulatory requirements such as data protection and anti-money laundering. Through these comprehensive management measures, enterprises can enhance the robustness and risk resistance of financial management, providing strong support for sustainabl
股指期权作为中国市场中较新的金融产品,能够有效对冲市场波动。传统期权评估方法基于波动率恒定假设具有局限性,无法解释尖峰厚尾、波动率微笑等反市场现象;而方差常弹性(Constant elasticity of variance, CEV)模型将假定推广到波动...
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股指期权作为中国市场中较新的金融产品,能够有效对冲市场波动。传统期权评估方法基于波动率恒定假设具有局限性,无法解释尖峰厚尾、波动率微笑等反市场现象;而方差常弹性(Constant elasticity of variance, CEV)模型将假定推广到波动率变化的情况,更符合实际市场。本研究探讨CEV模型在上证50股指期权价值评估中的应用及有效性,并对不同参数组合下的CEV期权定价结果进行多层次分析。通过单因素及多因素敏感性分析,得到期权在误差最小时的不确定因素取值及期权理论价值。CEV期权定价结果非常贴近市场价格,具有更准确的预测效果,可以作为投资者期权定价及风险管理决策的理论依据。As a relatively new financial product in the Chinese market, index options can effectively hedge against market volatility. Traditional option evaluation methods, based on the assumption of constant volatility, have limitations and cannot explain market anomalies such as leptokurtosis and volatility smiles. The Constant Elasticity of Variance (CEV) model extends this assumption to accommodate changing volatility, making it more aligned with actual market conditions. This paper uses the SSE 50 as an example to explore the application and effectiveness of the CEV model in evaluating the value of SSE 50 index options. It conducts a multi-level analysis of CEV option pricing results under different parameter combinations. Through single-factor and multi-factor sensitivity analyses, the study identifies the values of uncertain factors and theoretical option values that minimize errors. The CEV option pricing results closely align with market prices, offering more accurate predictive capabilities. This can serve as a theoretical basis for investors in option pricing and risk management decisions.
随着2020年“碳达峰、碳中和”目标的提出,ESG在我国取得更广泛的关注,为了更好地研究企业ESG表现对企业价值产生的影响,本文选取云南白药集团为案例研究对象,分析其在环境、社会、公司治理三个维度的表现,并通过财务风险、融资成本、企业创新角度探究ESG表现对企业价值的影响。研究表明,云南白药集团ESG表现对企业价值具有积极影响,并且可通过降低财务风险、减少融资成本、促进企业创新来提高企业价值。With the goal in 2020 of “reaching the peak of carbon and carbon neutrality” proposed, ESG has been paid more attention in China. In order to better study the impact of ESG performance on enterprise value, this paper selects Yunnan Baiyao Group as the case study object and analyzes its performance in the three aspects of environment, society and corporate governance. This paper explores the influence of ESG performance on enterprise value through the perspective of financial risk, financing cost and enterprise innovation. The results show that ESG performance has a positive effect on firm value and can improve firm value by reducing financial risk, cutting down financing cost and promoting firm innovation.
社交电商的快速崛起重构了传统电商的交易逻辑,电子商务平台通过社交网络分销模式实现了流量的裂变,但也引发了收入确认模糊、成本归属争议及税会协同困境等会计问题。针对以上问题本文提出四种解决方案:其一,构建分层动态的收入确认框架,明确行为触发型收入的计量标准与可变对价分摊机制;其二,优化区块链智能分账系统,实现多级成本精准归集与虚拟货币计量的模式;其三,推动税会数据互通与跨境分账规则细化,构建合规风控闭环;其四,创新虚拟权益分类标准与计量模型,强化表外信息披露。希望研究为社交电商企业合规处理收入分成提供操作指南,促进电子商务行业健康发展。The rapid rise of social e-commerce has reconstructed the transaction logic of traditional e-commerce. E-commerce platforms have achieved traffic fission through social network distribution models, but it has also caused accounting issues such as unclear revenue recognition, cost attribution disputes, and tax coordination difficulties. This article proposes four solutions to address the above issues: Firstly, constructing a hierarchical dynamic revenue recognition framework, clarifying the measurement standards and variable consideration allocation mechanism for behavior triggered revenue;Secondly, optimize the blockchain intelligent ledger system to achieve a multi-level cost accurate collection and virtual currency measurement model;Thirdly, promote the exchange of tax data and the refinement of cross-border accounting rules, and build a compliance risk control loop;Fourthly, innovate the classification standards and measurement models for virtual equity, and strengthen the disclosure of off balance sheet information. The paper hopes to provide operational guidelines for social e-commerce companies to comply with revenue sharing regulations and promote the healthy development of the e-commerce industry.
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