再论总收益与需求价格弹性的关系

指出了赵树女原有关需求点弹性与总收益关系结论的错误 ,并用较简单的反例补充说明了葛斌华等未能说明的在点弹性 η =1时总收益R未必取得最大值的事实 ,进而修正完善了商品需求点弹性与总收益关系的结论。同时就包括非线性的一般的需求函数 ,指出并证明了商品需求中点弧弹性与总收益关系的结论。     

基于因子分析法 的电子商务专业课程体系改革研究

本文选取湖南商学院三个具有典型代表意义的电子商务专业班级,通过对学生的抽样调查和数据分析认为,电子商务专业课程内容体系改革主要受到课程总体因子、课程比重因子、双语课程因子和课程实训因子四个方面的影响。因此,文章最后从这几个层面提出了相应的课程内容体系改革的建议。     

Local government efficiency: determinants and spatial interdependence

We analyse the determinants of local government efficiency taking into account the presence of spatial interactions among neighbouring municipalities. To do so, first we estimate an efficiency index using the robust order-m methodology in Valencian municipalities (Spain). Second, we examine the socio-economic, political and budgetary factors that might influence efficiency levels. Finally, we analyse the spatial interactions present in our data. The results of estimating a spatial autoregressive model show that government efficiency in neighbouring municipalities positively affects the local government’s own efficiency. This highlights the importance of considering spatial dependence structures in studies on efficiency in the public sector.     

双维市场导向、本地网络嵌入与海外人才在华创业绩效研究

基于战略导向理论,从市场导向视角就反应型市场导向和积极型市场导向对海外人才在华创业企业创业生存绩效和创业成长绩效的影响进行研究,结合跨国创业企业的网络嵌入特征,研究本地网络嵌入的权变调节作用。通过对214家海外人才在华创业企业样本的实证研究发现,反应型市场导向和积极型市场导向对创业生存绩效和创业成长绩效均有显著正向影响,但相对于积极型市场导向,反应型市场导向对创业生存绩效的影响更加显著。同时,研究还表明,本地网络嵌入能够增强市场导向与创业绩效的作用关系,在其中起正向调节作用。研究结论表明,市场导向是跨国创业的有效战略选择,本地网路嵌入是市场导向发挥绩效作用的边界条件。     

财政竞争视角下的地方政府债务研究

基于财政竞争视角,从理论与实证两方面分析同级政府之间的财政竞争行为对地方政府债务规模的影响.研究结果表明:为了吸引资源要素流入,促进本地区经济增长,地方政府在制定相应政策时,往往会考虑其他地区政府的策略选择,利用财政手段展开竞争,从而导致债务规模膨胀.基于此,应从完善现行政绩评估机制、合理界定各级政府间事权与支出责任、加强地方政府责任意识、建立健全债务风险预警等方面着手努力.     

A novel Monte Carlo approach to hybrid local volatility models

We present in a Monte Carlo simulation framework, a novel approach for the evaluation of hybrid local volatility [Risk, 1994, 7, 18–20], [Int. J. Theor. Appl. Finance, 1998, 1, 61–110] models. In particular, we consider the stochastic local volatility model—see e.g. Lipton et al. [Quant. Finance, 2014, 14, 1899–1922], Piterbarg [Risk, 2007, April, 84–89], Tataru and Fisher [Quantitative Development Group, Bloomberg Version 1, 2010], Lipton [Risk, 2002, 15, 61–66]—and the local volatility model incorporating stochastic interest rates—see e.g. Atlan [ArXiV preprint math/0604316, 2006], Piterbarg [Risk, 2006, 19, 66–71], Deelstra and Rayée [Appl. Math. Finance, 2012, 1–23], Ren et al. [Risk, 2007, 20, 138–143]. For both model classes a particular (conditional) expectation needs to be evaluated which cannot be extracted from the market and is expensive to compute. We establish accurate and ‘cheap to evaluate’ approximations for the expectations by means of the stochastic collocation method [SIAM J. Numer. Anal., 2007, 45, 1005–1034], [SIAM J. Sci. Comput., 2005, 27, 1118–1139], [Math. Models Methods Appl. Sci., 2012, 22, 1–33], [SIAM J. Numer. Anal., 2008, 46, 2309–2345], [J. Biomech. Eng., 2011, 133, 031001], which was recently applied in the financial context [Available at SSRN 2529691, 2014], [J. Comput. Finance, 2016, 20, 1–19], combined with standard regression techniques. Monte Carlo pricing experiments confirm that our method is highly accurate and fast.     

HODGES-LEHMANN EFFICACIES FOR LIKELIHOOD RATIO TYPE TESTS IN CURVED BIVARIATE NORMAL FAMILIES

For hypothesis testing in curved bivariate normal families we compare various size a tests by means of their Hodges-Lehmann efficacies at fixed alternatives, in particular when these tests have equal optimal asymptotic power in the local Pitman sense. The locally most powerful tests and the likelihood ratio tests for the curve are both Pitman optimal, but the latter turn out to have higher Hodges-Lehmann efficacy. All the tests considered here, including the locally most powerful tests, are likelihood ratio tests against suitable (possibly enlarged) sets of alternatives, the curve itself being an important special case of such a subset. In passing we illustrate a general result in Brown (1971) concerning Hodges-Lehmann optimality obtained by enlarging the model.     

Tests of independence in a bivariate exponential distribution

The problem of testing independence in a two component series system is considered. The joint distribution of component lifetimes is modeled by the Pickands bivariate exponential distribution, which includes the widely used Marshall and Olkins distribution and the Gumbels type II distribution. The case of identical components is first addressed. Uniformly most powerful unbiased test (UMPU) and likelihood ratio test are obtained. It is shown that inspite of a nuisance parameter, the UMPU test is unconditional and this test turns out to be the same as the likelihood ratio test. The case of nonidentical components is also addressed and both UMPU and likelihood ratio tests are obtained. A UMPU test is obtained to test the identical nature of the components and extensions to the type II censoring scheme and multiple component systems are also discussed. Some modifications to account for the difference in parameters under test and use conditions are also discussed.     

Diagnostic analysis for a vector autoregressive model under Student′s t‐distributions

In this paper, we use the local influence method to study a vector autoregressive model under Student^′s t‐distributions. We present the maximum likelihood estimators and the information matrix. We establish the normal curvature diagnostics for the vector autoregressive model under three usual perturbation schemes for identifying possible influential observations. The effectiveness of the proposed diagnostics is examined by a simulation study, followed by our data analysis using the model to fit the weekly log returns of Chevron stock and the Standard & Poor's 500 Index as an application.