Downside risk and portfolio diversification in the euro-zone equity markets with special consideration of the crisis period

This study examines the Value-at-Risk for ten euro-zone equity markets individually and also divided into two groups: PIIGS (Portugal, Italy, Ireland, Greece and Spain) and the Core (Austria, Finland, France, Germany and the Netherlands), employing four VaR estimation and evaluation methods considered over the full period and the pre- and post-global crisis subperiods 1 and 2. The backtesting results are also evaluated according to the Basel capital requirements. The results demonstrate that the CEVT methods meet all the statistical criteria the best for most individual equity indices over the full period, but these results over the two subperiods for those two methods are mixed, compared to those the DPOT methods. Moreover, the two optimal group portfolios of the PIIGS and the Core as well as the grand portfolio that combines the ten indices do not show much diversification benefits. The PIIGS portfolio selects Spain's IBEX only, while that of the Core opts for Austria's ATX only in the full period and subperiod 1. However, Germany's DAX overwhelmingly dominates both the Core and the Grand portfolios in subperiod 2.     

The transfer of human resource management technology in Sino-U.S. cooperative ventures: Problems and solutions

Differences between Chinese and U.S. human resource management systems are described with respect to fundamental organization and work-related assumptions about people and performance, rewards, training and development, and educational background of HR practitioners. We identify key differences that present impediments to the modernization of HRM practices in Sino-U.S. cooperative ventures, and then, present a normative framework for the introduction of modem HRM practices into these ventures. We conclude with implications for both research and practice that focus primarily on integrating individuals and the enterprise, as well as integrating the enterprise with social and economic goals.     

文学与科学相结合:优化河北科普传媒的途径研究

在现代社会,知识比以往任何时候都更加重要,所以科普起着至关重要的作用。近年来河北科普事业取得了长足发展,也面临着明显问题和不足。科普向来是一种多层面的社会活动,但科普研究界很少聚焦于文学。科普的目的是缩短科学家和公众的距离。大众传媒是科普的主要途径。但在市场经济的激烈竞争中,由于科普内容缺少趣味性,大众传媒的科普功能正趋于减弱。而公众对科技的需求却在日益增强。因此,科普传媒需要吸纳新的元素以提升其科普功能。由于文学具有很强的趣味性,如果和各种媒体结合,尤其是网络媒体和印刷媒体,必然会提升传媒的科普效力。     

我国节能汽车进入美国市场的机遇

本文分析了当前美国的汽车市场走向,认为美国汽车市场正处于结构调整的关键时期,混合动力汽车市场增长迅速。我国与发达国家在节能汽车领域的差距正在迅速缩小,应该抓住机遇进入美国市场,争取在新一轮世界汽车工业竞争格局变化中取得有利地位。     

美国科学与工程人才短缺及其影响研究

本文研究了经济结构调整背景下美国的就业结构现状及变化趋势,分析预测了其高等教育的人才供给状况。在比较主要国家高素质劳动力供需情况变化趋势的基础上,认为世界范围内高素质劳动力短缺时代已经到来,这将导致美国的移民政策出现变化,高素质人才将成为国际竞争的焦点之一。作者认为,应从保护利用国家战略资源的高度来研究制定人才政策。     

ECONOMIC GROWTH AND PUBLIC EXPENDITURE COMPOSITION: OPTIMAL ADJUSTMENT USING THE GRADIENT METHOD

Previous studies have looked at how the components of fiscal spending affect economic growth. However, we explicitly enquire into how to adjust the components in order to achieve the highest rate of economic growth starting from the present shares of components, by introducing a gradient method. The resulting optimal adjustment shares are proportional to the deviations from the average over elements of a gradient vector. The optimal adjustment share is completely estimated by using linear regression with any choice of omitted variable. The paper also provides an illustrative example taken from the annual panel data for the Japanese prefectural governments.     

基于主成分分析的日本市民慢观光意识特征研究

针对日本市民对慢观光的词语认知、兴趣程度、观光需求等,采取经典统计和主成分分析及聚类分析的方法,构建自然嗜好度和慢观光倾向2个特征因子,分组后结合职业、居住地、收入、年龄等个人属性分析评价市民慢观光意识的种类及特征。     

俄罗斯航天产业的科技人力资源状况及相关政策浅析

为抢占新一轮发展的制高点,俄罗斯政府将航天产业列为优先发展的战略性新兴产业之一,加以重点扶持和发展。通过采用有效培养人才和吸引人才的政策和策略,例如,对人才培养进行长远规划,采用专业导向式的人才培养模式,着力改善人才队伍老龄化现状,提高薪酬待遇和改革分配制度等,俄罗斯航天产业科技人力资源的数量和质量都开始提升,对航天产业的发展发挥了重要的支撑作用,俄罗斯的航天产业逐渐呈现上升的发展趋势。     

科技资源向智力密集型企业流动影响因素识别及实证分析

科技资源是企业创新的来源和保障,如何使企业有效获取科技资源,使科技资源顺畅流入企业内部,是企业面临的关键问题。在分析科技资源流动相关理论的基础上,通过构建科技资源向智力密集型企业流动的框架模型,识别科技资源向智力密集型企业流动的影响因素,并通过实证分析,提出促进科技资源向智力密集型企业流动的相关建议。     

日本吸引海外人才的政策与措施

近年来,为了应对国际人才争夺日益激烈的形势,日本官、产、学、研紧密合作,大力实施国际化人才战略,积极吸引国外科技人才,使得日本成为继美国之后全球最大的人力资源消费国和受益国。与美国依靠留学生、移民和工作签证三大法宝在激烈的国际人才竞争中制胜相比,日本政府积极研究和借鉴发达国家吸引人才的政策举措,积极吸引外脑,以大学国际化为重点加强环境建设,官产学联手充实留学生政策,鼓励优秀留学生在日就业等措施,力争聚集全球优秀人才。从高龄少子化、人口减少的国情出发,大力扩大留学生数量、有效放宽工作签证限制以及借助跨国公司在新兴国家大量吸收优质廉价科技人才将是日本吸引国际人才的长期方针。日本新一轮的吸引海外留学生及留住优秀留学生的政策能否收到预期成效,如何采取进一步的吸引人才措施,以及日本企业强化争夺国际人才的战略部署,都值得关注。