International portfolio diversification: an ICAPM approach with currency risk

This article investigates international stock market integration in four major developed economies, namely the United States, the Economic and Monetary Union of the European Union, Japan and the United Kingdom, and two Asian emerging, countries namely China and India, over the period from June 1994 to June 2009. To model stock market integration we estimate a dynamic version of the international capital asset pricing model (CAPM) in the absence of purchasing power parity. Conditional variance is modelled via a multivariate GARCH specification. To investigate the evolution of integration overtime we estimate the CAPM in sub-periods. In addition, we connect our results to the timing of world financial crises. Our findings show that the stock markets tend to move in parallel after June of 2002, although from 2002 to 2006 there have not been crises events. These results support the increasing globalization and interdependence of both emerging and developed markets in the recent decade, reducing the benefits of portfolio diversification.     

DL/I技术浅析

本文针对ＩＢＭ公司ＤＬ／Ｉ数据库的数据模式、程序调用、出错信息等方面，详细论述其定义和格式，以及程序调用的一些技巧。     

新建设工程工程量清单计价规范分析、探讨

我国从2003年7月1日起开始实行了工程量清单计价。新清单计价规范的实施,更符合工程价款精细化、科学化管理的要求,对我国工程造价的更好发展将起到更加科学、积极的指导作用。     

用强有力的行政手段规范林业项目资金管理

在国家加快林业发展,林业建设资金投入不断加大之际,林业项目资金管理问题日益突出,各种违规违纪现象时有发生。查找问题根源,研究管理对策,成为林业项目资金安全有效运行,推动林业事业全面发展的重要任务。     

电力客户服务网站建设之浅谈

文章介绍建设统一、规范电力客户服务网站的必要性、可行性,并阐述了电力客户服务网站建设的现状以及建设、发展的方向。     

New measures of factor productivity in Australia: a Sato approach

This article derives new results of the Elasticity of Substitution (ES) between capital and labour and factor productivity for Australia, an economy which experienced major economic reform that substantially increased the flexibility of its labour, product and capital markets throughout the 1980s and 1990s. It employs a Sato production function specification which has unique properties that enable the estimation of capital–labour substitution elasticity and changing marginal productivities through time. These estimates reveal that the substitution elasticity and labour productivity in Australia rose significantly from the mid-1960s and remained elevated during the economic reform period. A novel contribution of this article is the depiction of Australia's production isoquants to convey how combining labour and capital to produce real Gross Domestic Product (GDP) has changed over recent decades.     

面向物流职业岗位群的高职人才培养规格研究

针对目前高职物流人才培养规格现状进行相关研究,分析了目前高职人才培养规格存在的问题。结合高职物流企业人才培养规格,选择物流企业进行调研,了解物流职业岗位群及岗位能力要求;了解物流毕业生目前就业现状,通过对比分析和归纳总结,最终根据职业岗位群的要求对物流专业人才培养规格进行准确定位,使培养的学生符合社会、企业需求。     

法务会计专业人才培养规格与课程体系建构探析

随着我国社会主义法治国家建设目标的提出和社会主义市场经济建设的不断深入,对法务会计人才需求呈大幅增长趋势;法务会计人才培养规格的专业素质结构应包括法学、会计学、审计学等专业素质;法务会计人才培养目标的实现需要有按照一定原则设置的课程体系作为保证;法务会计课程体系具体应包括大学通修课、专业基础课、专业主干课、专业选修课等内容。     

Panel‐data Estimates of the Production Function and the Revenue Function: What Difference Does It Make?*

The lack of individual firm information on output prices is a major problem in the econometrics of production. In particular, it may be expected to account for a significant share of the large discrepancies found between the cross‐sectional and time‐series estimates of capital and scale elasticities. However, taking advantage of two panel‐data samples for which we had such information, we find that estimating the revenue function (using a nominal output measure) or the production function proper (using a real output measure) makes very little difference for our results. The biases due to other sources of specification errors are probably more important.     

麝香壮骨膏中樟脑和水杨酸甲酯含量的测定

建立麝香壮骨膏中樟脑和水杨酸甲酯含量的测定方法,并测定麝香壮骨膏中两种主要有效成分的含量,以控制麝香壮骨膏生产的质量。采用GC法测定麝香壮骨膏中樟脑和水杨酸甲酯的含量;色谱条件为:毛细管柱PEG-20M,30m×0.32mm×0.25μm,柱温:165℃,进行口温度:190℃,检测器温度:200℃;N2:50Kpa,H2:50Kpa,A ir:50Kpa;进样量:1μl,毛细管柱采用分流进样方式,分流比1:10。在选定的色谱条件下,樟脑和水杨酸甲酯在0.7785-31.14μg和0.7537-15.07mg范围内与峰面积呈良好的线性关系,平均回收率分别为98.35%和102.72%,RSD分别为0.6%和1.20%;本实验为麝香壮骨膏的质量分析提供了一种准确可靠的检测方法。