Difference of opinion among investors versus analysts

We construct an investor-based measure of differences of opinion (DO) to investigate the different implications of DO between retail investors (DOR), institutional investors (DOI), and analysts (DOA) on asset pricing. Using Chinese stock data, we find that three DO measures (DOR, DOI, and DOI) are negatively related to future returns; DOI’s ability to predict returns can be partly explained by DOR and DOA, whereas DOR contains incremental information not available from DOI and DOA. DOR is more strongly associated with the severe overvaluation caused by retail investors’ optimism than DOI or DOA, emphasising the specific role of retail investors in China’s market. We further show that DOI and DOA are the results of the differences in their information sets, whereas DOR are the results of different interpretations of public information.     

航空公司运行控制风险评估系统研究

在风险管理、安全科学等相关理论的基础上,通过研究影响航空公司运行控制安全的相关因素,建立了运行控制风险评估系统。系统利用层次分析法(AHP)确定组织构架,运用模糊专家系统配合风险矩阵量化风险因素权重值。     

基于知识图谱的社区团购媒体舆论情感倾向分析

基于知识图谱方法,依据Python爬取的数据,考量媒体舆论对社区团购的情感倾向.结果显示:不正当竞争、价格混乱、缺乏售后以及供应链条不畅等,导致媒体舆论对社区团购的情感倾向以"消极"为主.鉴此,应建立健全市场竞争机制和监管机制、完善质量导向定价机制、改进团长主理人培育机制、优化供应链共享合作模式等,以促进社区团购长效健康发展.