小(2)型水库除险加固设计经验探讨

文章结合广西小(2)型水库除险加固设计概况,总结了一些主要建筑物的典型设计方案,并针对设计过程中存在的问题,提出做好病险水库除险加固工作的建议。     

Cognitive,affective, conative,and action loyalty: Testing the impact of inertia

Research increasingly emphasizes the significance of customer loyalty to a firm's success. In order to provide a clearer understanding of hotel customers’ loyalty-formation process, this study proposed and tested an extended Oliver's (1997) four-stage loyalty model by employing a multi-dimensional approach for each attitudinal loyalty stage while considering the moderating impact of inertia. The original model was slightly altered to improve its fit and predictive ability. Results from the structural model generally supported proposed paths among the variables in the model (cognitive, affective, and conative loyalty components and action loyalty) and verified the mediating roles of study variables in forming action loyalty. Further, findings from structural group comparisons using invariance tests indicated that the links from satisfaction to commitment and intention and from intention to action loyalty were stronger for the low inertia group, supporting the moderating role of inertia. Implications are discussed, and limitations of this study are briefly outlined.     

中国企业对外投资风险管理研究

中国企业对外投资发展迅速,但是面临着体制性的风险和商业性的风险,因此在体制方面需要理顺中国对外投资管理体制,调整中国对外直接投资管理体系,降低体制性风险。企业需要建立对外投资风险管理体系、制定风险防范和管理策略,在此过程中充分发挥政府、行业协会等外部机构的作用。     

Regret theory and the banking firm: The optimal bank interest margin

This paper examines the optimal bank interest margin, i.e., the spread between the loan rate and the deposit rate of a bank, when the bank is not only risk-averse but also regret-averse. Regret-averse preferences are characterized by a utility function that includes disutility from having chosen ex-post suboptimal alternatives. We show that the presence of regret aversion raises or lowers the optimal bank interest margin than the one chosen by the purely risk-averse bank, depending on whether the probability of default is below or above a threshold value, respectively. Regret aversion as such makes the bank less prudent and more prone to risk-taking when the probability of default is high, thereby adversely affecting the stability of the banking system.     

基于VaR修正理论的投资组合优化模型

根据风险价值VaR的计算思路,本文提出了基于GARCH理论的风险计量投资组合优化模型;同时在修正的VaR——尾条件期望的基础上对证券组合投资的优化模型做了进一步的改进。     

我国创业板市场的风险研究及对策探讨

本文对创业板在中国的设立背景以及在中国的现状进行了分析,针对创业板存在的风险进行了系统的探讨,从而能够正确认识创业板市场当中存在的风险因素,以探寻降低创业板市场风险的手段和措施,促进创业板市场良性运行。     

论服饰色彩的伦理思想价值探究

服饰色彩作为一定社会伦理的外部表现,以自己特有的物质形式表现着这些伦理观念,从而以一定文化符号的形式构建了服饰色彩伦理的道德内容和价值体系。服饰色彩的这种真假区分、善恶评价、美丑取舍内在的规定了服饰色彩伦理的价值内容,从而对人们的着装心理、着装习惯产生重大影响。     

浅议对安全生产风险管理体系建设的认识

本文主要是认识安全生产风险管理体系建设工作的必要性和重要性,落实责任与资源。旨在交流探讨如何抓住关键环节,推动体系工作,如何结合实际,全员参与,不断总结、持续改进进一步提高电力建设安全生产管理水平。     

Debt Maturity,Credit Risk,and Information Asymmetry: The Case of Municipal Bonds

Using a system of equations approach, this paper empirically tests the impact of credit quality, asset maturity, and other issuer and issue characteristics on the maturity of municipal bonds. We find that under conditions of lower information asymmetry that prevails in the municipal sector, higher‐rated bonds have longer maturities than low‐rated bonds. This result differs from that observed in the corporate sector. Overall, our results support the asset maturity hypothesis. In addition, our analysis finds that fundamentals matter. Issue features that provide additional protection or convenience to the investor tend to increase debt maturity.     

Industry Structure and Corporate Debt Maturity

We examine how industry competition affects firms’ choice of short‐term debt. We find that the percentage of short‐term debt is positively related to industry concentration at low levels of concentration, and inversely related to industry concentration at higher levels of concentration. This nonlinear relation is stronger in industries where firms are either more homogeneous or compete more aggressively. Moreover, we find that firms with shorter‐maturity debt are less aggressive than their rivals in the product market. The overall evidence suggests that although financial contracts alleviate agency problems, they exacerbate the risk of predation.