铁路交通枢纽与城市综合体设计初探

通过对国内铁路旅客车站交通枢纽设计模式及国外交通枢纽城市综合体典型案例的分析和总结．提出铁路旅客车站结合物业开发设计并形成交通枢纽城市综合体将是国内铁路旅客车站发展趋势之一的观点,以期对今后铁路旅客车站的建筑设计有所启示。     

风险与收益权衡的期权组合策略

本文对Papahristodoulou的风险中性模型进行了推广,提出了在希腊字母上具有可控制风险界的线性规划模型来确定最佳期权组合策略。在此模型中,风险界可以由投资者根据自己的个性和对市场风险的接受能力选择,然后通过风险与收益的权衡来进行调整。最后,应用本文的模型对爱立信看涨权和看跌权的组合策略进行了分析计算。     

城市游憩空间意象营造实证研究——以南昌市为例

城市游憩空间意象营造对城市游憩空间规划设计有重要意义。提出了＂游憩意象综合体＂理念,以南昌市为例,从＂游憩意象综合体＂运行的4个主体要素,即游憩意象元、游憩意象点、游憩意象廊和游憩意象域出发,对城市游憩空间意象营造进行了实证研究,为我国城市游憩空间规划设计提供新的思路和理论指导。     

The assignment of call option rights between partners in international joint ventures

We examine call option rights as a contractual clause in international joint ventures (IJVs) and propose that the assignment of the call option right in an IJV is determined by certain ex ante asymmetries between the partners. Results show that between the two partners in an IJV, the firm with greater complementarity with the venture and greater prior IJV experience is more likely to hold the call option right; in addition, the firm's contractual choice on the call option right and its ownership choice on a greater initial equity stake are substitutive. Our focus on explicit call options advances the real options theory of collaborative agreements, and our results also highlight that option rights be considered an important part of alliance design. Copyright © 2013 John Wiley & Sons, Ltd.     

The performance of insolvency prediction and credit risk models in the UK: A comparative study

Theoretically-driven, market-based contingent claims models have recently been applied to the field of corporate insolvency prediction in an attempt to provide the art with a theoretical methodology that has been lacking in the past. Limited studies have been carried out in order directly to compare the performance of these models with that of their accounting number-based counterparts. We use receiver operating characteristic curves to assess the efficacy of thirteen selected models using, for the first time, post-IFRS UK data; and investigate the distributional properties of model efficacy. We find that the efficacy of the models is generally less than that reported in the prior literature; but that the contingent claims models outperform models which use accounting numbers. We also obtain the counter-intuitive finding that predictions based on a single variable can be as efficient as those which are based on models which are far more complicated – in terms of variable variety and mathematical construction. Finally, we develop and test a naïve version of the down-and-out-call barrier option model for insolvency prediction and find that, despite its simple formulation, it performs favourably compared alongside other contingent claims models.     

Research on e-commerce transaction networks using multi-agent modelling and open application programming interface

We provide a formal definition of an e-commerce transaction network. Agent-based modelling is used to simulate e-commerce transaction networks. For real-world analysis, we studied the open application programming interfaces (APIs) from eBay and Taobao e-commerce websites and captured real transaction data. Pajek is used to visualise the agent relationships in the transaction network. We derived one-mode networks from the transaction network and analysed them using degree and betweenness centrality. Integrating multi-agent modelling, open APIs and social network analysis, we propose a new way to study large-scale e-commerce systems.     

Hedge fund seeding via fees-for-seed swaps under idiosyncratic risk

We develop a dynamic valuation model of the hedge fund seeding business by solving the consumption and portfolio-choice problem for a risk-averse manager who launches a hedge fund through a seeding vehicle. This vehicle, i.e. fees-for-seed swap, specifies that a strategic partner (seeder) provides a critical amount of capital in exchange for participation in the funds revenue. Our results indicate that the new swap not only solves the serious problem of widespread financing constraints for new and early-stage funds (ESFs) managers, but can be highly beneficial to both the manager and the seeder if structured properly.     

约束稀疏脉冲反演在GX气田开发中的应用研究

GX气田北部地区构造、断层特征较为复杂,地质建模较困难,而约束稀疏脉冲反演是一种基于地震道的反演方法,它是在波阻趋势的约束下,用最少的反射系数脉冲达到合成记录与地震道的最佳匹配。该方法对初始模型依赖性较小,中高频部分不受初始模型的影响,其反演结果能忠于实际地震资料,分辨率与地震资料接近,保真度高。以GX气田为例,通过约束稀疏脉冲反演技术对GX气田开展储层预测,其反演结果与实测井曲线吻合较好,能客观反映地质体在横向上的变化特征,该方法适用于储层横向变化快和非均质性较强的少井区块。     

沃尔泽的复合平等之梦与中国的收入分配改革

人类对物质消费的本能及其本身所具有的差异以及物品的社会意义的多样性与抽象性导致简单平等的美梦难以变成现实。复合平等是优越于简单平等的另一种平等梦想。实现复合平等的关键在于自主分配，而确保自主分配的前提是承认差别和捍卫边界。垄断与支配是两个不同的概念，实现复合平等需要消除支配但不需要消除垄断。沃尔泽的复合平等理论对当前中国推进收入分配制度改革具有重要启示，有助于“中国梦”的早日实现。