Joint pricing and inventory control for non-instantaneous deteriorating items with partial backlogging and time and price dependent demand

In this paper, a joint pricing and inventory control for non-instantaneous deteriorating items is developed. We adopt a price and time dependent demand function. Shortages is allowed and partially backlogged. The major objective is to determine the optimal selling price, the optimal replenishment schedule and the optimal order quantity simultaneously such that, the total profit is maximized. We first show that for any given selling price, optimal replenishment schedule exists and unique. Then, we show that the total profit is a concave function of price. Next, we present a simple algorithm to find the optimal solution. Finally, we solve a numerical example to illustrate the solution procedure and the algorithm.     

预约转让定价的博弈分析

国际关联交易中,跨国公司常常根据各国税制差异利用转让定价套取税收利益,逃避税收。我国作为吸引外国直接投资最多的国家之一,也面临由此产生的税收大量流失的严重问题。本文通过构建预约定价中参与人之间的博弈模型,对其进行分析,提出相应措施,对进一步完善反避税制度具有重要意义。     

连续进化金融模型与全局渐进化稳定策略

本文运用达尔文生物进化论思想研究连续交易金融市场选择的动态变化及一般均衡规律。本文发现并证明了:金融资产“赢利”的充要条件是该资产相对股息大于相对股价;投资比例等于股息分发比例的简单混合策略是全局渐近进化稳定策略;在均衡条件下,对应的金融资产价格等于该资产股息占总股息的比例的数学期望;市场变异或金融创新是有效市场形成的动力;全局渐近进化稳定策略业绩可能在某些时候不是最好的,但只要其初始财富大于零,最终将控制市场上的所有财富,而简单混合策略,可能在某个时候业绩优良,然而,在市场存在全局渐近进化稳定策略的条件下,只要其初始财富份额小于1,最终控制的财富趋向于零,从而被市场所淘汰。     

利率市场化条件下农村信用社贷款定价方法研究——湖南的现状考察与模式选择

提高贷款定价能力、增强贷款定价的自主性和科学性是利率市场化条件下农村信用社的必然选择.作为金融支持社会主义新农村建设主力军的湖南省农村信用社,应从自身实际情况出发,选择与之相适应的贷款定价模式--市场与成本相机抉择的成本相加定价模式,并进一步完善具有市场化特征的贷款定价机制.     

Intraorganizational influences on business-to-business pricing strategies: A political economy perspective

Historically, researchers have addressed pricing issues from many different perspectives, including the firm's business model (cost structure, experience curve), stakeholders (customers and channel partners), competition (market structure and intensity), and macroeconomic issues (interest rates, economic growth). An important dimension of organizational price setting that has been neglected is the impact that the firm's internal political system, reflected in interdepartmental coordination and rivalry, has upon price setting. A study of managers who are influential in shaping the firm's pricing strategy was conducted to identify intraorganizational issues and their relative impact on the firm's pricing strategy. The results of the study provide important implications for the development and execution of a firm's pricing strategy.     

Markup pricing in petroleum refining:: A multiproduct framework

This paper describes a structural model of markup pricing under joint production with quasi-fixed inputs of capital, labor, and inventories. The price–cost markups are functions of the inverse price elasticity of demand, an industry average conjectural variation elasticity, and the inventory to sales ratio. Our empirical findings suggest significant markups over marginal cost that differ considerably by product. This study also estimates the elasticities of markups with respect to supply and demand shocks.     

发展我国预约定价安排制度的思考

作为解决关联企业转让定价问题的一种方法,预约定价出现较晚,人们对其了解也较少。本文在简单阐述预约定价安排制度的基础上,分析了预约定价的优缺点,并结合我国预约定价的实践,提出了进一步完善我国预约定价安排制度的若干建议。     

The determinants of the price impact of block trades: further evidence

This article extends previous literature which examines the determinants of the price impact of block trades on the Australian Stock Exchange. As previous literature suggests that liquidity exhibits intraday patterns, we introduce time of day dummy variables to explore time dependencies in price impact. Following theoretical developments in previous literature, the explanatory power of the bid–ask spread, a lagged cumulative stock return variable and a refined measure of market returns are also examined. The model estimated explains approximately 29 per cent of the variation in price impact. Block trades executed in the first hour of trading experience the greatest price impact, while market conditions, lagged stock returns and bid–ask spreads are positively related to price impact. The bid–ask spread provides most of the explanatory power. This suggests that liquidity is the main driver of price impact.     

我国缺失国际能源定价权的原因和对策分析

贸易摩擦和能源革命正驱动国际能源市场格局悄然发生变化,能源安全再一次成为各国关注的焦点。作为能源进口大国和隐含能源净出口大国,我国由于缺失国际能源定价权经常被动接受“中国溢价”而蒙受巨大损失。研究发现,我国缺失国际能源定价权的原因主要在于能源期货市场发展滞后,能源战略储备不足,人民币国际化程度较低,行业垄断度较高。面对严峻的国内外发展环境,本文建议我国尽快健全完善国内能源期货市场,稳步推进人民币国际化,加强能源储备与清洁新能源开发,深化能源定价机制改革,进而逐步获取并提升国际能源定价权。     

限售股权定价的实证检验

我国上市公司的非流通股权实质为限售股权,股权分置改革改变了限售期的不确定性.通过对2004～2006年5月间326笔我国上市公司限售股权转让信息的研究发现:限售股股东向流通股股东支付对价是有理论和实证依据的,股权分置改革有利于国有资产保值增值.公司净资产、控制权收益以及公司流通股比例与限售股定价正相关.流动性约束与限售股定价负相关.受让方为非国有性质时,限售股转让相对价较低.股权转让方式、公司盈利能力等财务指标对限售股定价有一定影响.