Volatility,Depth, and Order Composition: Evidence from a Pure Limit Order Futures Market

This paper investigates market behaviors (such as volatility, depth, and volume) and order-flow decomposition in a pure limit order futures market, the Taiwan Futures Exchange. The results are different from those in equity markets due to relatively high adverse selection costs in futures markets. We show that a volatility (depth) increase is followed by a depth (volatility) decrease; a market order increase (decrease) subsequently induces higher (lower) volatility; and a limit order increase (decrease) results in more (less) market orders and limit orders. When the upside (downside) volatility rises, buyers decrease (increase) subsequent limit bid orders, and sellers increase (decrease) limit ask orders.     

Price competition under universal service obligations

In industries like telecom, postal services or energy provision, universal service obligations (uniform price and universal coverage) are often imposed on one market participant. Universal service obligations are likely to alter firms' strategic behavior in such competitive markets. In the present paper, we show that, depending on the entrant's market coverage and the degree of product differentiation, the Nash equilibrium in prices involves either pure or mixed strategies. We show that the pure strategy market sharing equilibrium, as identified by Valletti, Hoernig, and Barros (2002), defines a lower bound on the level of equilibrium prices.     

CDMA2000 1x EV-DO网络的室分优化

文章针对中国电信CDMA2000 1xEV-DO网络的室分优化工程,探讨了多种数据分析及故障定位方法,并提出了基于不同场景的网络性能优化的解决方案。     

哈达山水库浸没问题分析

本文结合哈达山水库实际情况,对其浸没问题分析评价,并提出浸没范围,为确保工程经济合理和安全运行奠定了基础。     

CNG在海狮类轻型客车上的应用

金杯海狮轻型客车是华晨金杯的主流车型,有着16年的发展历程,连续10年成为中国国内市场的销售冠军,而且出口中东、俄罗斯、朝鲜等国家和地区,市场覆盖面不断扩大。为了让金杯海狮轻型客车纵横中国大地,不断超越过去,不断拓宽国际化经营道路,2007年决定与意大利的朗第伦索(Landi Renzo)合作开发海狮CNG车型,填补轻型客车双燃料市场的空白。     

How open search strategies align with firms’ radical and incremental innovation: evidence from China

The purpose of this paper is to describe the ways in which open search strategies (i.e. open search breadth and open search depth) align with firms’ radical and incremental innovation. By analysing survey data collected from 162 firms in Chinese high-tech markets, we found that a firm pursuing radical innovation benefits more from open search breadth than open search depth to achieve its performance goals; in contrast, a firm processing incremental innovation benefits more from open search depth than open search breadth to improve its performance. Based on these results, managers should pay attention to the fit between open search strategies and radical/incremental innovation. This study not only contributes to the studies of search strategies by identifying the parallel relationship of open search strategies and two types of innovation, but also enriches the theory of open innovation with an empirical analysis.     

培养观察能力对提高学习技巧的作用

学习也有技巧,观察能力也很重要,培养观察能力,要指导学生掌握有序观察,分析观察,逆向观察的观察方法;重视观察的目的性、全面性、精确性、深刻性等良好观察品质的培养。学生的数学学习水平,取决于数学观察能力的强弱。     

论室内消防系统现状及维护建议

文章分析了国内室内消防系统的现状,并结合各室内消防系统的特点,提出了相关维护建议。     

对扩大我国失业保险覆盖面问题的探析

党的十七大报告提出,要加快建设覆盖城乡居民的社会保障体系。失业保险是社会保障制度中的一个重要环节。当前我国的失业保险覆盖面存在一些问题,限制了失业保险功能的发挥。文章在对失业保险覆盖面狭窄进行深入分析的基础上,对扩大失业保险覆盖面的问题进行探讨。     

财政保障新型农村养老保险制度实施策略分析——以“全覆盖”目标为视角

新型农村养老保险制度的"全覆盖"目标从预期的2020年提前至2012年实现,比预定时间提前了8年。新型农村养老保险制度的实施存在养老金替代率低、对农民选择缴费补贴机制激励性不足、政府财政资源配置不科学等障碍,需从财政视角出发,在补贴制度设计、缴费档次安排以及政府间财力分担等方面实施有效的政策,进一步完善我国的新型农村养老保险制度。