JD-1同步电动机微机控制机在整流励磁装置中的应用

为了解决同步电动机在启动过程中的脉振现象以及在运行中因励磁电流不稳而使电动机跳闸等可靠性问题,在整流励磁装置中采用了JD 1同步电动机微机控制机。介绍了控制机的励磁技术性能、励磁可靠性及其维护,较好地改善了电网的功率因数,提高了同步电动机的运行可靠性。     

平衡记分卡在建筑企业管理中的应用

在本的研究中，分析了平衡计分卡如何在建筑企业管理中应用的问题。从平衡计分卡所含的四个方面出发，阐述平衡计分法在建筑企业实施的步骤，并为四类具体的目标找出最具有意义的业绩衡量指标。此外，结合建筑企业实际情况，分析了在建筑企业管理中应用平衡计分卡值得注意的问题。并针对如何克服平衡计分卡在建筑企业实施中的障碍，进一步给出了几点建议。     

Do Australian companies manage earnings to meet simple earnings benchmarks?

Measurement error in unexpected accruals is an important problem for empirical earnings management research. Several recent studies avoid this problem by examining the pooled, cross–sectional distribution of reported earnings. Discontinuities in the distribution of reported earnings around key earnings thresholds may indicate the exercise of management discretion (i.e. earnings management). We apply this approach to the detection of earnings management by Australian firms. Our results generally indicate significantly more small earnings increases and small profits than expected and conversely, considerably fewer small earnings decreases and small losses than expected. These results are much stronger for larger Australian firms. We undertake an exploratory analysis of alternative explanations for our results and find some evidence consistent with management signalling its inside knowledge about the firm's expected future profitability to smooth earnings, as opposed to 'management intent to deceive' as an explanation for our results.     

Impact of Divergent Consumer Confidence on Option Prices

This paper investigates the impact of divergent consumer confidence on option prices. To model this, we assume that consumers disagree on the expected growth rate of aggregate consumption. With other conditions unchanged in the discrete-time Black–Scholes option-pricing model, we show that the representative consumer will have declining relative risk aversion instead of the assumed constant relative risk aversion. In this case all options will be underpriced by the Black–Scholes model under the assumption of bivariate lognormality. This revised version was published online in June 2006 with corrections to the Cover Date.     

《抽油泵及其组件规范》采标的滞后问题

通过对2001年版API Spec 11AX《抽油泵及其组件规范》的研究分析，指出了新版标准的先进性、科学性和合理性，阐明GB／T18607—2001：API Spec 11AX(1996)《抽油泵及其组件规范》在采标中存在滞后问题。     

Characteristics of Earnings-Leading Versus Price-Leading Firms

This study attempts to identify firm characteristics that explain the disparity between the information content of accounting earnings and stock prices. Granger's causality concept was employed to classify sample firms into four groups: price-leading firms, feedback-system firms, earnings-leading firms, and no-causation firms. The feedback-system firms were either combined with the no-causation firms or eliminated entirely to form three sample groups. The entire sample firms then were divided into two classes. The first is for estimation, and the second is for prediction. Results indicate that firm size, capital structure, R-square of regressing prices at time t against earnings at time t – 1, R-square of regressing earnings at time t against prices at time t – 1, and percentage of shares held by institutions are the significant explaining variables. The application of the coefficient estimates to the hold-out sample indicates that 76.2% of the firms can be correctly classified into the corresponding groups. These results were consistent with those from canonical discrimination and other multivariate statistical methods.     

On the Distribution of CBOE Option Trade Prices Occurring Between Consecutive Stock Trades

This paper examines the volume distribution of option trade prices that occurs when the underlying stock price remains constant. The width of these option trade price bands provides direct evidence on the law of one price and the redundancy of options assumed in many option models. We find that index option bands are narrower than equity option bands. Furthermore, for both equity and index options, puts have narrower bandwidths than calls. In general, option price bandwidth is narrow and can be explained by the minimum price movement allowed by the Chicago Board Options Exchanges (CBOE). This supports the single price law and the redundancy assumption. The existence of bid/ask quotes on the option does not materially affect the above results although it does alter the frequency of multiple option trade prices for a given underlying stock price. We note that over 53% of option trading volume occurs without bid/ask quotes on the CBOE compared to less than 15% a decade ago. Our results suggest that the effective bid/ask spread on options is probably no larger than the minimum price movements allowed by the CBOE. Furthermore, the need for the liquidity services of market makers may be declining if the decline in quoting activity stems from cross trading (i.e. trades not involving market makers).     

Three New Real Estate Price Indices for Geneva,Switzerland

This paper develops constant-quality price indices for three categories of real estate-apartment buildings, vacant land, and condominiums—for the city of Geneva, Switzerland. We use both the hedonic and repeat sales models to estimate the price level and, in turn, the rate of price change. The general pattern of each series suggests that real estate prices in Geneva were fairly stable throughout the 1970s, increased sharply during the 1980s, but gave back some of these gains in the early 1990s. Interestingly, the sharp rise in prices in the second half of the 1980s is very similar to that found in some regions of the United States. We also consider the problem, implicit in the repeat sales method, of revisions in previously estimated price indices as additional data become available in later years.     

集值函数及向量值函数的两类线性算子逼近

本文得到了利用插值型线性算子列及积分型算子列逼近连续集值函数及连续向量值函数的收敛逼近阶。     

无界时滞中立型系统(非Razumikhin型)的稳定性

本文利用 Liapunov 函数法,建立无界时滞线性和非线性中立型系统(非 Razumikhin 型)稳定性的简单判据。