复杂产品系统研发团队的交互记忆系统与团队效能关系研究

本文采用实证研究,针对复杂产品系统的研发团队,从团队成员所具有的心理资本出发,探索团队成员心理资本对团队成员交互记忆系统的形成及发展的影响,进而得出其对团队效能的影响。从而为复杂产品系统中研发团队的建设提供建议,进而提升团队效能。     

Macro-economic determinants of consumer price knowledge: A meta-analysis of four decades of research

For the past four decades, dozens of researchers have studied consumer price knowledge, often with disagreements on the extent of consumer' ignorance about prices. While some of these disagreements have been attributed to research design variations among studies, no inquiry has yet been made on the role of the economic environment on consumer price knowledge. Nevertheless, environmental factors such as interest rates, unemployment, and economic growth may significantly influence consumers' knowledge of prices. Certain economic environments may therefore provide marketers with the ability to utilize pricing tactics which rely on limitations in consumers' knowledge of product prices. Using a meta-analytic framework, this paper synthesizes the results of 297 previous price knowledge studies to document the effects of inflation, unemployment, GDP growth, interest rates, country of study, and passage of time on consumer price knowledge. The meta-analysis results demonstrate that economic factors have considerable influence on explaining variations in consumer price knowledge. Managerial and public policy implications of the findings in light of turbulent economic environments are discussed.     

三表联动法计算新建项目国内借款偿还期

国内借款偿还期作为项目评价的一项重要指标， 一向受到贷款者和投资者的重视。借款方式多样化， 造成了其计算过程的复杂， 初学者往往只看实例项目中的计算结果而不能对三表联动法计算国内借款偿还期引起足够的重视，本文以一实例简述了用三表联动法计算此项指标的主要过程和一些应引起注意的问题，并就该实例提出了电算化计算项目国内借款偿还期的主要思路，对项目评价初学者和致力于项目评价电算化的人士提供了一定帮助。     

The Asymptotic Expansion Approach to the Valuation of Interest Rate Contingent Claims

We propose a new methodology for the valuation problem of financial contingent claims when the underlying asset prices follow a general class of continuous Itô processes. Our method can be applied to a wide range of valuation problems including complicated contingent claims associated with the term structure of interest rates. We illustrate our method by giving two examples: the valuation problems of swaptions and average (Asian) options for interest rates. Our method gives some explicit formulas for solutions, which are sufficiently numerically accurate for practical purposes in most cases. The continuous stochastic processes for spot interest rates and forward interest rates are not necessarily Markovian nor diffusion processes in the usual sense; nevertheless our approach can be rigorously justified by the Malliavin–Watanabe Calculus in stochastic analysis.     

The Term Structure of Interest Rates in a Small Open Economy: A Stochastic Analysis

This article employs a rational expectations IS-LM model with price adjustment to study the effect of domestic monetary and fiscal policy and world interest rate disturbances on the real and nominal small open economy term structure of interest rates. The impact of both temporary and permanent shocks are investigated. Notable results include the fact that monetary expansions lead to positive yield curves, while the implications of fiscal expansions and increases in the world interest rate depend crucially on the duration of the shock.     

单片机在语音存储与回放中的应用

本系统以单片机 ８９Ｃ５１为核心，选用闪速存储器（Ｆｌａｓｈ Ｍｅｍｏｒｙ）ＡＴ２９Ｃ０４０作为语音的数字化信号的存储器件。阐述了一种实用可靠的设计方案。     

Accurate Short-Term Yield Curve Forecasting using Functional Gradient Descent

We propose a multivariate nonparametric technique for generatingreliable short-term historical yield curve scenarios and confidenceintervals. The approach is based on a Functional Gradient Descent(FGD) estimation of the conditional mean vector and covariancematrix of a multivariate interest rate series. It is computationallyfeasible in large dimensions and it can account for nonlinearitiesin the dependence of interest rates at all available maturities.Based on FGD we apply filtered historical simulation to computereliable out-of-sample yield curve scenarios and confidenceintervals. We back-test our methodology on daily USD bond datafor forecasting horizons from 1 to 10 days. Based on severalstatistical performance measures we find significant evidenceof a higher predictive power of our method when compared toscenarios generating techniques based on (i) factor analysis,(ii) a multivariate CCC-GARCH model, or (iii) an exponentialsmoothing covariances estimator as in the RiskMetrics^TM approach.     

Valuing Fixed-Income Options and Mortgage-Backed Securities with Alternative Term Structure Models

To value mortgage-backed securities and options on fixed-income securities, it is necessary to make assumptions regarding the term structure of interest rates. We assume that the multi-factor fixed parameter term structure model accurately represents the actual term structure of interest rates, and that the values of mortgage-backed securities and discount bond options derived from such a term structure model are correct. Differences in the prices of interest rate derivative securities based on single-factor term structure models are therefore due to pricing bias resulting from the term structure model. The price biases that result from the use of single-factor models are compared and attributed to differences in the underlying models and implications for the selection of alternative term structure models are considered.     

转包型产业集群的长期交易及成因分析

文章在描述转包型产业集群的交易长期性和信任性的特点基础上，进而分析集群企业长期交易关系的形成、维持与强化的影响因素，揭示了长期交易发育发展既是集群自身的运行特性又是外部多种因素综合作用的必然结果。     

The Effective Duration and Convexity of Liabilities for Property-Liability Insurers Under Stochastic Interest Rates

Managing interest rate risk for property-liability insurers requires appropriate measurement of the sensitivity of liabilities to movements in interest rates. Most prior studies have assumed that interest rates shift in a parallel fashion and that the cash flows from liabilities are unaffected by interest rate changes. This article recognizes that unpaid property-liability (P-L) insurance losses are inflation-sensitive, that movements in interest rates will affect future claim payouts due to the correlation between interest rates and inflation and that interest rates are stochastic. The effective duration and convexity of P-L insurance liabilities calculated based on this approach are substantially lower than those measured using traditional approaches, which has important implications for asset-liability management by P-L insurers.