继上市不足3年半的谭仔国际,在今年2月由日本母公司东利多控股提出私有化之后,汇丰集团亦于本月9日公布,建议私有化创立于1933年的恒生银行。换言之,恒生成为汇丰全资子公司后,其超过50年的上市地位将被撤销。

2857 8636
KK 919
Maurice Tse received a Ph.D. in Finance from Michigan State University. In 1988, when still a Ph.D. candidate, he won the All-University-Excellence in Teaching Award as a graduate course instructor. Maurice joined the School of Business at Indiana University in 1989. In 1991, he also obtained a professional qualification as an Associate of the Society of Actuaries (ASA). Maurice’s teaching has mainly been concerned with telling students how to get rich slowly but surely instead of getting rich fast.
Maurice has also been involved in teaching and consulting services to professional institutions. Since 1995, he has been an external assessor for the University Grants Committee. In 1996, while on staff at HKUST, Maurice taught the Professional Course for Equity Options Practitioners and the Diploma Course in Derivatives and Risk Management for the Stock Exchange of Hong Kong. In 1993 and 1994, he served on one of the Examination Committees in the Society of Actuaries. In 1991, he prepared the 1991 Housing Affordability Report for the Housing Finance Authority, State of Indiana, USA, to assist the state in complying with Department of Housing and Urban Development regulations.
Maurice has wide research interests, which include the effects of government regulations on the volatility and the wealth transfer in financial markets, asset pricing, corporate finance, and risk management. His current research focuses on the valuation of hybrid mortgage, signaling and corporate acquisitions, market structure and return volatility in Hong Kong, the commercial real estate market adjustment process, and the U.S. and Japanese Currency and Stock Market Responses to Japanese Merchandise Balance of Trade Announcements
- “Supply Adjustments to Demand Shocks in the Commercial Real Estate Market”,
(with G.H. Lentz), Real Estate Economics, forthcoming. - “The U.S. International Air Route Award Process: Shareholder Wealth Effects and Policy Implications”,
(with G.E. Hoffer and S.W. Pruitt), The Journal of Regulatory Economics, Vol. 12, 1997, pp.197-217. - “The Price, volatility, volume, and liquidity effects of Changes in Federal Reserve Margin Requirements on both Marginable and Non-marginable OTC Stocks”,
in S.W. Pruitt and Andrew Lo, (eds.), The Industrial Organization and Regulation of the Securities Industry, National Bureau of Economic Research, University of Chicago, 1996.The Industrial Organization and Regulation of the Securities Industry
National Bureau of Economic Research, University of Chicago, 1996. - “An Option Pricing Approach to the Valuation of Commercial Real Estate Contaminated with Hazardous Materials”,
(with G.H. Lentz), The Journal of Real Estate Finance and Economics, Vol. 10. No. 2, Spring 1995, pp.121-144. - “A Quadratic Approach to the Two-Stage Dividend Discount Model”,
in K.Han and J. Uppal, Dilip K. Ghosh, (eds) , New Advances in Financial Economics, Oxford, Elsevier Science Publishers, London, U.K., 1995, pp.23-37.New Advances in Financial Economics
Oxford, Elsevier Science Publishers, London, U.K., 1995. - “The CRISMA Trading System: The Next Five Years”,
(with S.W. Pruitt and R.E. White), The Journal of Portfolio Management, Vol. 18, 1992, pp.22-25. - “Downside Risk and Investment Planning”,
(with M.A. White and J. Uppal), The Financial Review, Vol. 28 No. 4, November 1993, pp.585-605, an abstract of this article was also published in the CFA Digest, Spring 1994, by the Association for Investment Management and Research.
特朗普家族透过旗下“世界自由金融”(World Liberty Financial)去中心化金融 (DeFi) 协定和管治平台, 发行名为“WLFI”的数字代币,刚由9月1日起在各大加密货币交易所买卖。 公开交易后,特朗普家族的财富帐面上一度跃升50亿美元。自从特朗普本年重返白宫以来,他不但通过WLFI项目在金融领域取得丰富收获,甚至得以成为历任美国总统中的首富。
作为加密货币,稳定币的价值与另一种资产挂钩,往往是美元或其他法定货币,亦可由黄金、美债等金融资产支持。稳定币的发行机制可分为中心化或去中心化模式,其供应依赖某种形式的资产或加密货币储备,以维持此类挂钩。
人工智能(AI)正迅速成为优化效率与推动创新的核心技术,广泛应用于医疗、企业营运与公共安全等领域,但正如一枚钱币的另一面,犯罪分子却有机可乘。随着 AI 技术日益成熟,犯罪组织更透过骇客攻击、诈骗、伪造影片勒索,以及散播错误资讯,令人防不胜防。
美国OpenAI 公司自2022 年推出ChatGPT以来,就一直雄踞生成式人工智能(Generative AI )市场领导地位。AI 创新领域早已成为兵家必争之地,美国为了限制中国在此一领域的发展,禁止高端晶片出口中国,并限制中国用户使用ChatGPT,香港用户因而需透过虚拟专用网络( VPN )才能使用。2024 年,中国一间初创公司推出了深度求索(DeepSeek)生成式AI模型,却彻底扭转局势,剑指ChatGPT 的霸主宝座。
2024–2025年度首8个月的赤字为1,432亿元(已包括发行债券收入);罗兵咸永道估算全年赤字为948亿元,而财政储备将下降至6,398亿元,相当于约10个月政府开支,属有记录以来最低水平,最高峰曾达28个月水平。若公共财政继续入不敷支,并无措施出台扭转趋势,估算未来4年赤字亦将居高不下。政府必须尽快全面检讨支出,同时在管理财政及其对公众的影响之间小心取得平衡。
感冒具传染性,你知道指责别人似乎也同样具传染性吗? 心理学学者进行了一项实验,让参与者阅读有关政治失败的新闻,并写下政客的过失。当他们看到政客将失败归咎于特殊利益时,更容易将自己的责任推卸给他人。同样,若管理层轻易指责下属,员工也会效仿,这样就容易形成推卸责任的文化。
感冒具传染性,你知道指责别人似乎也同样具传染性吗? 心理学学者进行了一项实验,让参与者阅读有关政治失败的新闻,并写下政客的过失。当他们看到政客将失败归咎于特殊利益时,更容易将自己的责任推卸给他人。同样,若管理层轻易指责下属,员工也会效仿,这样就容易形成推卸责任的文化。
生成式人工智能(AI)会否成为下一个科技泡沫?抑或这纯属是短期调整?AI近年急速发展,各界争相投资,但不少专家担心已出现泡沫。有意见指出,AI公司的估值被过度推高,且其实际增益有限,提醒投资者须对这一行业的发展保持理性、客观的态度。




