国际内部审计执业准则修正草案探讨

2008年1月公布的国际内部审计执业准则修正草案与原轨业准则相比，在结构和内容上都有较大变化，有助于内部审计质量的追一步提高。为了更好地理解该准则修正草案，本文对其修正前后内容进行了对比分析，井指出修正意义及影响。     

应用在固态发射机上的高性能特种开关电源

某型号固态发射机，要求电源提供20kW的功率，同时满足现代固态发射机对电源的高性能的要求，为此，设计运用5台40V／100A的开关电源模块以并联均流的工作方式为发射机提供电源。本文详细介绍了40V／100A开关电源模块的主要技术指标、系统组成和工作原理，给出了主要元件的设计方法，概述了选择低温器件的思路，最后给出了样机的实验结果。实验结果表明，所提出的电路方案是切实可行的。     

P-O匹配对新入职员工职业适应性的影响:P-G匹配的中介效应

新入职员工职业适应性是员工职业发展的关键,但目前尚没有研究者探索匹配性因素对新入职员工职业适应性的影响.本研究采用配对数据,探索P-O匹配,P-J匹配,P-G匹配对新入职员工职业适应性的影响机制.对419份样本数据进行分析发现,P-O匹配,P-G匹配对新入职员工职业适应性的影响显著,且P-O匹配对新入职员工职业适应性的影响间接通过P-G匹配来实现;P-J匹配对新入职员工职业适应性的影响不显著.因此,对新入职员工来说,多种匹配因素中对其影响最大、最直接的是员工与团队的匹配,员工与组织的匹配对其适应性产生间接影响,员工与工作的匹配对其适应性影响不明显.     

On additivity of tail comonotonic risks

ABSTRACT

As perceived from daily experience together with numerous empirical studies, the multivariate risks demonstrate a strong coherence in the extremal dependence structure especially over the course of financial turmoil or industrial accidents and outbreaks. Under this motivating paradigm, we show the universal asymptotic additivity under upper tail comonotonicity, as the probability level approaching to 1, for Value-at-Risk and Conditional Tail Expectation for a portfolio of fixed number of risks, in which each marginal risk could be any one having a finite endpoint or belonging to one of the three max domains of attraction. Our obtained results do not require the tail equivalence assumption as needed in the existing literature. This resolves a lasting problem in quantitative risk management and covers most distributions commonly encountered in practice.     

澳门回归后经济发展特征研究

澳门回归后经济迅速复苏,博彩业迅速发展并成为澳门的支柱产业,对于推动澳门经济发展具有举足轻重的作用。博彩业的发展对经济增长影响显著,并且对劳动力市场影响较大。文章选取1999-2010年的数据,对澳门回归之后经济的发展状况,尤其是博彩业对经济和劳动力市场的影响,进行总结及分析。     

Specification tests of asset pricing models using excess returns

In this paper, we discuss the impact of different formulations of asset pricing models on the outcome of specification tests that are performed using excess returns. We point out that the popular way of specifying the stochastic discount factor (SDF) as a linear function of the factors is problematic because (1) the specification test statistic is not invariant to an affine transformation of the factors, and (2) the SDFs of competing models can have very different means. In contrast, an alternative specification that defines the SDF as a linear function of the de-meaned factors is free from these two problems and is more appropriate for model comparison. In addition, we suggest that a modification of the traditional Hansen–Jagannathan distance (HJ-distance) is needed when we use the de-meaned factors. The modified HJ-distance uses the inverse of the covariance matrix (instead of the second moment matrix) of excess returns as the weighting matrix to aggregate pricing errors. Asymptotic distributions of the modified HJ-distance and of the traditional HJ-distance based on the de-meaned SDF under correctly specified and misspecified models are provided. Finally, we propose a simple methodology for computing the standard errors of the estimated SDF parameters that are robust to model misspecification. We show that failure to take model misspecification into account is likely to understate the standard errors of the estimates of the SDF parameters and lead us to erroneously conclude that certain factors are priced.     

Parents,migrant domestic workers and children's speaking of a second language: Evidence from Hong Kong

This paper explores the effects of different language home environments provided by English‐speaking and non‐English‐speaking migrant domestic workers (MDW) on Hong Kong children's ability to speak English. Results show that English‐speaking MDW in working‐mother households increase children's likelihood of speaking English by 12% if the mother in the household does not speak English but by 25% if the mother in the household is capable of speaking English. Non‐English‐speaking MDW, however, are found to have little such effects. Age and education are two qualities of English‐speaking MDW that are significantly associated with improvements in children's English‐speaking ability and their English school subject.     

中国城镇化和水资源利用的协调性分析*——基于熵变方程法和状态协调度函数

［目的］通过研究2007—2016年城镇化和水资源利用的协调性，为两者协调发展提供政策建议。［方法］利用熵变方程法和状态协调度函数实证分析。［结果］(1)基于熵变方程法得到的相对协调度结果与利用状态协调度函数测算的静态协调度结果基本一致，目前我国城镇化与水资源利用逼近或处于协调发展状态，但在2009—2011年两者动态协调度偏离了协调发展轨迹。(2)3类城市中地级以上城市城镇化与水资源利用目前处于协调发展状态，两者动态协调度一直处于协调发展的轨迹上，地级市和县级市城镇化与水资源利用则处于基本协调状态，尚未达到协调状态，即目前城镇化发展的同时，水资源利用情况出现了小幅恶化，且2类城市动态协调度分别在2009—2012年和2009—2011年偏离了协调发展轨迹。［结论］我国尤其是地级市和县级市需要统筹城镇化发展与水资源利用，既需提升城镇化质量，又需进一步贯彻执行水资源管理法规，捋顺其管理体制，完善水资源价格形成机制以及污水处理收费制度，构建多渠道的水资源循环利用机制，达到城镇化进程中水资源可持续利用。     

德国《原油和石油产品储备法》的主要内容及德国石油储备体系的发展趋势

德国《原油和石油产品储备法》通过对石油储备联盟的机构性质、组织结构及财务原则做出详细规定,建立了由石油储备联盟集中负责义务储备经营管理的基本原则,权责划分明确;规定了义务储备量的具体计算方法,对义务储备的储存、转让、释放等提出了要求,可操作性强;规定了监督、申报、检查等管理方式和具体的执行方法,明确了其中各级组织相应的责任和义务,强调联邦政府的监管.从历次《储备法》修订内容来看,德国石油储备体系的发展趋势主要是:储备责任主体由分散趋于集中,政府的监管力度持续加强,石油储备管理的市场化程度逐步提高,与欧盟、国际能源署(IEA)及其成员国间的协同加强.     

高龄人群移动信息终端产品设计研究

目前我国的消费市场上针对高龄人群所设计开发的移动信息终端产品非常少,这方面研究也极其有限。通过资料分析以及市场调查等手段对高龄人群的生理和心理两大方面进行研究,其中生理方面包括听力、视力、触觉和肌力,心理方面包括消费心理和认知心理。根据研究结果,分析归纳得出高龄人群移动信息终端产品设计的指导性设计原则。最后,以面向高龄人群的移动信息终端产品设计为实例,验证上述设计原则。