联想集团层层突破的高手之路

SARS的侵袭并没有挡住联想前进的脚步，2003年4月28日，联想酝酿了两年的换标行动如期举行，只是新闻发布会从实地转移到了网上，18年来伴随联想打下江山的“Legend”终于功成身退。4月29日，六款彩屏手机首当其冲，成为联想新标识“Lenovo”的第一批产品，昭示着手机在联想新战略中举足轻重。5月28日晚7点，联想集团董事局主席柳传志、     

坚决将突围进行到底

联想裁员无疑是近来最引人猜测的IT新闻。.com在挤碎泡沫时的大举裁员催生了人们对裁员的敌意,也击垮了舆论界对IT企业的信心。在这个寒冷的冬天,人们并不希望看到旗舰式的联想给IT业带     

仍不甘心的倪光南——“希望历史回复到本来面目”

“做得好,一步登天;做不好,打入地狱!”2004年12月8日凌晨,在联想大厦三楼会议室里,柳传志语重心长地对80多位联想高层叮嘱道。几个小时后,联想集团在北京五洲大酒店抛出爆炸性新闻:用12．5亿美元收购IBM的PC业务。     

美国觊觎中国人腰包

如果评个2004年末新闻topx的话,恐怕第一名的位置非“联想收购IBM的pc部门“莫属.……     

吃钱不烧钱 资本恰到好处

“租车行业是一个‘吃钱不烧钱’的行业．表面上看．租车公司买车要沉淀大量资本．但这个行业的市场空间以及现金流是有保障的。因此．我愿意说这个行业是‘吃钱不烧钱’。”在2010年9月，联想控股宣布12亿元人民币注资神州租车的新闻发布会上．联想投资总裁朱立南这样评价。     

“深度采访”的金钥匙———联想

新闻采访不是“录音式”的有闻必录．它要求采访者要随时地从瞬息万变、错综复杂的现实生活中捕捉和挖掘新闻．这就需要在采访过程中，设法深入进去．进行“深度采访”。记者在多年的采访实践中深切地感受到，联想是一种有效的方法，它是进行“深度采访”的一把金钥匙。     

F1为联想加速

这是联想首次在F1赛事中使用ThinkPad的标志。此举不仅将联想ThinkPad自身的品牌形象及品牌策略通过AT&T威廉姆斯车队完美展现,更凸现出ThinkPad在联想战略发展中的重要地位。     

产业资本参与风险投资案例联想巨资入主赢时通

２０００年８月２３日下午,联想入主赢时通的新闻发布会在北京香格里拉酒店举行。宣布联想以价值３５３７万美元的有形资产入股赢时通,占新公司４０％的股份,成为第一大股东,从而完成了迄今为止我国互联网行业金额最大的一次并购。赢时通ＣＥＯ朱在国在接受记者采访的时候认为,赢时通通过这次并购,实力得到了全面提升。 对于赢时通而言,这是一个关键的里程碑。 １９９６年到１９９９年赢时通是国内最重要的软件提供商。１９９９年１０月赢时通财经网站开通后,网络服务平台发展迅速。联想加入赢时通后,应是赢时通发展的第三个阶段。…     

基于品牌概念地图的品牌联想研究——一种提高品牌价值的新方法

品牌形象通过各种联想与记忆中的品牌相联系。只有通过有效的营销,将顾客脑中丰富的联想形成良好且牢固的联想,企业才能提高顾客对品牌忠诚度。国外对品牌联想的研究早、成果多;但国内对于品牌联想的研究才刚刚起步,关于如何测量和描绘的研究更是几乎为零。结合国外最新的品牌联想测量工具——品牌概念地图,对新光饰品的品牌联想进行实证研究。通过描绘新光品牌的品牌联想结构,指出该品牌现有不足之处,并给出了相应的对策。     

浅谈如何做好广播新闻的现场报道

广播现场报道,是广播电台播报新闻的主要形式,它作为广播中的轻骑兵越来越多地被运用于新闻报道当中,广播现场报道除了具有交流信息、引导舆论的功能外,还因其逼真直观的现场感,小中见大的包容性,给人以身临其境的感觉.恰到好处的现场报道可以使新闻节目的节奏富于变化,对听众的听觉感受形成强烈的冲击,使听众展开无限的想象和联想空间,展示了平面媒体无法比拟的传播魅力.     

The Relationship Between Stock Market Returns and Technical Efficiency Innovations: Evidence from the US Airline Industry

This paper analyzes the association between two firm performance measures: stock market returns and relative technical efficiency. Using linear programming techniques (Data Envelopment Analysis and Free Disposal Hull), technical efficiencies are calculated for a panel of eleven US airlines observed quarterly from 1970–1990. A relationship, between efficiency news in a quarter and stock market performance in the following two months, is found. A risky arbitrage portfolio strategy, of buying firms with the most positive efficiency news and short-selling those with the worst news during this time frame, results in zero beta risk yet yields annual returns of 17% and 18% for the two methodologies.     

The Information Content of Guidance and Earnings

I compare the information content of quarterly earnings guidance and quarterly earnings by examining their associations with current and future stock returns when the two signals are bundled at earnings announcements. At the bundled announcement, I find a significantly stronger association between announcement returns and guidance news. From the day after the bundled announcement through the next earnings announcement, both signals generate abnormal return drifts of about 200 basis points. However, the timing of the post-announcement returns differs considerably. For guidance, about 50% of the post-announcement drift occurs at the next earnings announcement. In contrast, for earnings, about 20% of the preceding drift reverses at the next earnings announcement. Investor ignorance of the drift following guidance news coupled with a fixation on post-earnings announcement drift potentially explains this surprising difference in the timing of the post-announcement returns. Overall, this study indicates that bundled quarterly earnings guidance contains more information than quarterly earnings and that investors incorrectly overweight the earnings news and underweight the guidance news during the post-announcement period until the next earnings announcement.     

Informational efficiency and behaviour within in-play prediction markets

Studies of financial market informational efficiency have proven burdensome in practice, because it is difficult to pinpoint when news breaks and is known by some or all the participants. We overcome this by designing a framework to detect mispricing, test informational efficiency and evaluate the behavioural biases within high-frequency prediction markets. We demonstrate this using betting exchange data for association football, exploiting the moment when the first goal is scored in a match as major news that breaks cleanly. There are pre-match and in-play mispricing and inefficiency in these markets, explained by reverse favourite-longshot bias (favourite bias). The mispricing tends to increase when the major news is a surprise, such as a goal scored by a longshot team late in a match, with the market underestimating their chances of going on to win These results suggest that, even in prediction markets with large crowds of participants trading state-contingent claims, significant informational inefficiency and behavioural biases can be reflected in prices.     

The Impact of Accounting Conservatism on the Compensation Relevance of UK Earnings

Abstract

It has long been established that because of accounting conservatism, the contemporaneous correlation between returns and earnings is lower (higher) for good (bad) news firm-years. Meanwhile, prior analytical agency work suggests that the compensation role of accounting earnings is potentially greater (for tasks such as noise filtering and incentive balancing) when the contemporaneous correlation between earnings and returns is lower. Hence, since accounting conservatism implies that earnings have a lower correlation with returns in good news firm-years, the present paper hypothesises that UK CEO cash compensation exhibits a stronger (weaker) sensitivity to accounting earnings in good (bad) news firm-years. The empirical findings offer substantial support for this hypothesis and are robust to alternative estimation methodologies. In addition, the results appear not to be attributable to the well-established impact of earnings persistence on the compensation–earnings association. Overall, the findings are consistent with the notion that UK compensation committees appear to take cognisance of the impact of accounting conservatism when awarding earnings-based compensation. In addition, the present work offers additional insights into the nature of the interaction between the contracting and valuation roles of accounting numbers.     

Information flows and stock market volatility

This study examines how news is distributed across stocks. A model is developed that categorizes a stock's latent news into normal and nonnormal news, and allows both types of news to be filtered through to other stocks. This is achieved by formulating a model that jointly incorporates a multivariate lognormal‐Poisson jump process (for nonnormal news) and a multivariate GARCH process (for normal news), in addition to a news (or shock) transmission mechanism that allows the shocks from both processes to impact intertemporally on all stocks in the system. The relationship between news and the expected volatility surface is explored and a unique news impact surface is derived that depends on time, news magnitude, and news type. We find that the effect of nonnormal news on volatility expectations typically builds up before dissipating, with the news transmission mechanism effectively crowding‐out normal news and crowding‐in nonnormal news. Moreover, in contrast to the standard approach for measuring leverage effects using asymmetric generalized autoregressive conditional heteroskedasticity models, we find that leverage effects stem predominantly from nonnormal news. Finally, we find that the capacity to identify positively or negatively correlated stock returns is ambiguous in the short term, and depends heavily on the behavior of the nonnormal news component.     

如何做好民族地区广播电视民生新闻的报道

新时期民族地区广播电视新闻宣传工作中,民生新闻占有突出的位置。做好民生新闻,需要深入研究、了解民生新闻的涵义、党性原则、价值取向以及民族地区民生新闻的理论实践、新闻报道的突破,为做好民族地区广播电视民生新闻宣传找好点、定好位。     

What׳s news in News? A cautionary note on using a variance decomposition to assess the quantitative importance of news shocks

This paper points out a conceptual difficulty in using a variance decomposition to assess the quantitative importance of news shocks. A variance decomposition will attribute to news shocks movements in endogenous variables driven both by news about future exogenous fundamentals that has yet to materialize (what I call “pure news”) as well as movements driven by realized changes in fundamentals that were anticipated in the past (what I call “realized news”). I present a stylized model in which news about yet unrealized changes in fundamentals is irrelevant for output dynamics, but in which a variance decomposition may nevertheless attribute a large share of the variance of output to news shocks. I then revisit the quantitative importance of news in the model of Schmitt-Grohe and Uribe (2012). In their model news shocks account for 40 percent of the variance of output growth, but this is mostly driven by realized news.     

英语新闻网站文体特征对比探析

随着互联网的广泛应用,越来越多的人借助网络获取信息资料及新闻。由此逐渐产生出互联网新闻英语文体,它逐渐形成了一种极其重要的新闻英语文体的次文体,并把它称为"第四新闻媒体"。文章从版面编排、新闻风格、目标读者、语言特点几个方面对不同新闻英语网站进行文体分析及研究。通过不同新闻英语网站对比研究揭示,即使同是新闻英语网站,但由于受不同因素的影响,其文体特征也会有显著差异。     

试论严肃性在新闻报道中的作用及其表现

新闻报道的严肃性是新闻真实性、及时性的集中体现。本文阐述了"严肃性"在新闻报道中的重要作用,探讨了"严肃性"在新闻标题、新闻内容、新闻评论等方面的主要表现及其在新闻报道中的渗透途径。     

News and intraday jumps: Evidence from regularization and class imbalance

We study how information provokes intraday price jumps taking into account, besides news timing, the sentiment of news stories and other high-frequency indicators. By applying penalized logistic regression and addressing the rare nature of jumps, in addition to the previous evidence showing that causes of jumps are rate decisions and earnings announcements, we find that news provoking jumps is often followed by other news about the same company, that news stories sentiment and macro-surprises sign help to predict the jump sign, and, finally, that market players sometimes anticipate company-specific news.