Evaluating asset pricing models using the second Hansen-Jagannathan distance

We develop a specification test and a sequence of model selection procedures for non-nested, overlapping, and nested models based on the second Hansen-Jagannathan distance, which requires a good asset pricing model to not only have small pricing errors but also be arbitrage free. Our methods have reasonably good finite sample performances and are more powerful than existing ones in detecting misspecified models with small pricing errors but are not arbitrage-free and in differentiating models that have similar pricing errors of a given set of test assets. Using the Fama and French size and book-to-market portfolios, we reach dramatically different conclusions on model performances based on our approach and existing methods.     

加强试验检测工作 提高公路工程质量

结合当前农村公路工程建设过程中存在的质量问题,浅谈如何加大试验检测工作力度,切实提高农村公路工程质量。     

FPGA在某型防空导弹发射机构测试中的应用

论文针对某新型防空导弹发射机构测试系统测试时间长、效率低、体积大、是专属检测设备等问题,设计了一种新型的基于FPGA的发射机构测试系统,并以信噪比检测为例,分析了系统的功能实现。该设计充分利用了FPGA的特点,测试系统体积小、可扩展性好,测试速度快、效率高。     

基于机器学习的凋亡蛋白的亚细胞位点预测

准确预测凋亡蛋白的亚细胞位点有利于理解细胞死亡的机理和其生物学功能。本文利用裂解位点的蛋白质序列信息提出了一种新的凋亡蛋白的预测算法PSSP.对三个凋亡蛋白数据集进行Jackknife验证表明我们的方法得到了令人满意的结果。     

混凝土灌注桩声波透射法检测技术及其应用

声波透射法检测全面、细致,现场操作简便,用于大直径混凝土灌注桩检测,能够准确的判别桩的各类缺陷。本文介绍了声波透射法的基本原理、检测前的准备工作以及检测过程中的注意事项。通过工程实例提出了桩身存在缺陷时声学参数的特征。     

A revisit on real interest rate parity hypothesis – simulation evidence from efficient unit root tests

A set of unit root tests are applied to test the existence of long-run real interest rate parity among the G-10 countries over the period 1971M1 to 2007M2. Rather than trusting the asymptotic distributions, this article uses simulation techniques to establish the small sample distributions of these tests, conditional on the stationary and nonstationary processes. The empirical results indicate that the tests have stable finite-sample sizes and higher size-adjusted powers such that the two estimated processes can be distinguished from each other. Thus, for six of the nine countries, their series are more likely to come from the estimated Autoregressive (AR) stationary process than from the nonstationary process. Noticeably, the testing results are rather different from those using the asymptotic distributions, in which only three countries support the real interest rate parity.     

从某一微车气囊设计探讨安全气囊标定技术

文章以某一微车安全气囊设计为基础,详细阐述汽车设计中气囊标定整车碰撞试验矩阵确定的依据、气囊标定对车辆状态的要求及气囊标定核心——点火控制的原理,从而得出准确的标定报告,以指导设计生产。     

金融业国际化发展与经济竞争力——基于浙江视角的实证研究

浙江省金融业国际化通过多种效应对经济产生重要的拉动作用。本文利用2006年1月至2009年12月的月度时间序列数据,对变量进行了Granger因果关系检验,建立了基于VEC模型的脉冲响应函数,对浙江经济竞争力对金融业国际化发展的动态响应结果进行了分析。检验结果表明,浙江省金融业的国际化发展有利于浙江省经济竞争力的提高。基于上述结论,本文提出了浙江金融业国际化发展的对策建议。     

Catching up on competitors: how organizations can motivate employees to work harder

The paper is an attempt to explain why some organizations are more competitive than others in terms of their human resources. It establishes under what circumstances some employees exert extra effort beyond the level required to keep their job and to get promotion by exploring the role of motivational forces that may complement the calculative considerations as suggested by expectancy theory. In a multivariate analysis proxies for five motivational mechanisms were tested, based on need theory, positive work disposition, intrinsic motivation, behavioural commitment as implied by organizational roles and social exchange theory. It emerged that all of them make their own contribution to the explanation of extra work effort.     

稠油注汽系统能耗测试方法与效果评价

为降低稠油开采成本和提高经济效益，对稠油注汽系统采取了一些节能技术改进措施，并应用了一些节能产品，以提高注汽系统热效率。为了评价改造后稠油注汽系统的热效率及使用配套节能产品的效果，给出了稠油注汽系统技改能耗测试要求、测试程序与方法、测试结果评价指标及评价方法；并对技改前后稠油注汽系统能耗进行了综合评价，说明所采取的技改措施是有效的。