论我国创业板退市程序的完善:基于投资者权益保护视角

创业板上市公司退市,无疑会对投资者权益产生重大的影响,如何确保投资者在创业板退市过程中合法权益不受侵害,涉及到方方面面的问题。宏观上如法制环境、市场相关制度1、行政监管、行业自律等,微观上如退市标准和退市程序制度等。其中完备和严格的程序既能保障退市及时、有效地进行,防止退市不畅,又能对退市决定的使用和退市过程加以必要的约束和限制,防止其被滥用。本文通过重点论述海外成熟创业板市场退市程序中的重点程序制度及其之于完善我国创业板退市程序和投资者保护的意义,旨在为我国创业板退市程序建设提供政策建议。     

农事特别程序：解决农村民事纠纷的程序性贡献

随着经济的发展，我国农村民事纠纷也呈现大幅增长的趋势，农村纠纷解决机制成为亟待研究的问题。衣事特别程序整体上说是一种不同于一般民事诉讼的特殊程序，是一种根据农事纠纷的特点更加简单易行的程序。对农事特别程序与衣事法院进行深入研究，对于快速解决农村纠纷、实现民事程序的多元化以及实现社会主义法治都有着重要的意义。     

林权流转程序中的审批问题研究——以地方性法规、规章为对象

林权流转是林业产权确权后解决林地规模经营的必然举措。在林权流转中程序是保证林权流转规范运行的重要手段。林权流转程序包含审批、备案、森林资源评估、林权证的发放和变更登记等多项内容。文章以若干地方性法规和地方政府规章为研究对象,对其中的林权流转审批事项进行梳理,分析审批的性质和效力,提出规范林权流转程序的建议。     

模式V加密敌我识别系统

本文介绍了模式V加密敌我识别系统的特点，以及工作原理和系统构成。     

“I will never go to Hong Kong again!” How the secondary crisis communication of “Occupy Central” on Weibo shifted to a tourism boycott

Social media, an open space for the public's opinion and expression, has become an increasingly essential issue in crisis events, leading to secondary crisis communication. Realizing the potential risk of that, this study took the “Occupy Central” spreading on Weibo as a case, and applied topic clustering and sentiment analysis to examine the sequential characteristics of secondary crisis communication on social media in topics and emotions. Results show that the topics Weibo users discussed shifted from a political event to tourism boycott, with emotions turning increasingly negative. The turning point of such a transfer was aroused group conflicts and negative emotions elicited between people from mainland China and Hong Kong. The results indicate the necessity of emphasizing secondary crisis communication during a crisis due to the dynamic and sequential change of topics and public's emotions, which may result in new crises impacting the tourism destination where the initial crisis occurs.     

Optimum allocation in multivariate stratified random sampling: stochastic matrix mathematical programming

The allocation problem for multivariate stratified random sampling as a problem of stochastic matrix integer mathematical programming is considered, minimizing the estimated covariance matrix of estimated means subject to fixed cost or fixed total sample size. With these aims the asymptotic normality of sample covariance matrices for each strata is established. Some alternative approaches are suggested for its solution. An example is solved by applying the proposed techniques.     

在规制中选择——对公司转投资的思考

公司转投资实现资本效率,公司自由决策公司事务应合乎法律规制。公司转投资决策以有限责任和公司章程为规制,但立法和实务中都有突破。公司与转投资企业之间关联关系的运作是转投资的重要问题,有必要建立关系运作规制体系。程序规制是公司转投资关系公正救济的保障。本文构建对公司转投资的规制,引导公司正确选择。     

On multivariate higher order von Mises expansions

In this paper we review the von Mises calculations of higher order for statistical functionals of one variable. For the functionals of several variables, the higher order Gateaux differentials are defined leading to the corresponding multivariate higher order von Mises expansions. These expansions are used to analyze the bias of the corresponding statistical functionals. The second and third order derivatives are computed for M-estimates. Applications of these expansions to study the bias of M-estimates of location and to simultaneous M-estimates of location and scale are also given. Received: July 2000     

Moral hazard and adverse selection in the originate-to-distribute model of bank credit

Bank credit has evolved from the traditional relationship banking model to an originate-to-distribute model. We show that the borrowers whose loans are sold in the secondary market underperform their peers by about 9% per year (risk-adjusted) over the three-year period following the initial sale of their loans. Therefore, either banks are originating and selling loans of lower quality borrowers based on unobservable private information (adverse selection), and/or loan sales lead to diminished bank monitoring that affects borrowers negatively (moral hazard). We propose regulatory restrictions on loan sales, increased disclosure, and a loan trading exchange/clearinghouse as mechanisms to alleviate these problems.     

Characterization of Normal Distribution Related to Two Samples Based on Regression

Characterization of normal distribution related to two samples based on second conditional moments has been obtained. This characterization has been transformed to a characterization based on the UMVU estimators of the density function. These results are generalized to k samples from normal distributions. Finally applications of these characterization results to goodness-of-fit test are discussed.