Idiosyncratic Risk in Emerging Markets

In this study, I examine the properties and portfolio management implications of value‐weighted idiosyncratic volatility in 24 emerging markets. This paper provides evidence against the view that the rise of idiosyncratic risk is a global phenomenon. Furthermore, specific and market risks jointly predict market returns as there is a negative (positive) relation between idiosyncratic (market) risk and subsequent stock returns. Idiosyncratic volatility is the most important component of tracking error volatility, and it does not exhibit either an upward or a downward trend. Thus, investors do not have to increase, on average, the number of stocks they hold to keep the active risk constant.     

提高GPS测量精度的分析及措施

本文在简要介绍GPS定位原理和测量特点的基础上,着重分析了影响GPS测量精度的误差,并提出针对性措施,以期提高GPS的测量精度。     

多微机联控在大型三面翻广告牌翻转运动中的应用

多微机联控系统应用不同类型的单片机，构成一个主控制器和多个现场控制器，充分发挥不同类型单片机的长处以提高系统的实用性和性价比。主控制器和多个现场控制器之间采用异步串口通信或“软串口”按照“通信协议”实现分支通信，组成多微机联控的“集散式控制”系统，按三面翻牌面翻转的控制要求分段驱动电机，实现大型三面翻牌面的定画面、定时间、可选翻转方式、出错牌面的“自动纠错翻转”等驱动要求。多微机联控系统极大地简化了控制电路的连线，简化了电气控制安装工艺与施工，在降低工程费用和后期维修费用的同时，可大幅提高控制系统工程的可靠性、稳定性、性价比。     

国内错误分析研究述评

中国期刊全文数据库CNKI检索1990年至2009年外语类核心期刊上刊发的关于错误分析的研究论文以实证类文献研究为主,主要集中在语法和词汇研究上,多采用静态的共时研究;研究对象主要为大学生,研究数据大多来自学习者的书面语。     

基于GM(1,1)模型的重庆市城镇化率预测研究

城镇化是推动中国经济持续发展的强劲动力,为有效预测重庆市城镇化率水平,并依据该城镇化率水平对重庆的区域发展做出相应规划。首先应用GM(1,1)模型构建了城镇化率的动态预测模型,然后对该模型的误差检验方法进行了研究,最后应用该模型对重庆市城镇化率的发展趋势进行了预测。研究结果表明,重庆市城镇化率的GM(1,1)模型通过了平均相对误差检验、均方差检验、灰色绝对关联度检验和小误差概率检验,该模型可以用于对重庆市未来城镇化率的预测。同时运用这个模型对重庆市城镇化率进行了预测并得出结论:重庆市城镇化率将以较快速度发展,在2015年达到62%,超过中国平均水平,这也证明了重庆市城镇化率水平比较高,对中国的城镇化发展贡献比较大,应继续保持这个发展速度以推进长江经济带的发展。     

财政收支视角下的江西公共服务--基于EG两步法和误差修正模型分析

财政收支的长期均衡关系影响到公民享受公共服务的福利。通过运用EG两步法检验江西省1978-2012年间财政收支之间是否存在长期均衡关系,结合误差修正模型分析江西省财政收支的短期和长期关系。实证结果表明：江西省财政收支存在长期均衡关系,当短期波动偏离长期均衡时,误差修正项以0.337007的力度进行反向调整,使得非均衡状态向均衡状态回复。进行格兰杰因果关系检验,发现江西财政支出是财政收入的格兰杰因果关系,说明作用于公共服务上的财政支出能够带动国民经济的增长,在一定程度上带来财政收入的增加。     

The Israeli XBRL Adoption Experience

eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It is a tool to bridge potential language barriers and unify financial reporting. This has appeal to foreign investors, among others, who can rely on information in XBRL‐tagged financial reports to make investment decisions without having to translate financial statements from local language. In 2008, Israel required most public companies to adopt International Financial Reporting Standards (IFRS) for financial reporting and to use XBRL‐tagged reporting format, as part of an aggressive effort to make its capital markets more transparent and attractive for foreign investors. In this paper, we study all Israeli public companies and analyze the accuracy and reliability of their XBRL‐tagged financial statements that are available on MAGNA, the Israel Securities Authority's electronic system. We describe the process by which the XBRL‐based data were collected and reported. We document, categorize, and analyze deficiencies in the XBRL‐tagged filings, and inconsistencies between them and the Hebrew‐based annual reports. We observe pervasive data entry errors resulting in inaccurate XBRL‐generated financial reports, which went undetected for over one year. Further, first year XBRL reporting (in conjunction with IFRS adoption) did not increase foreign investment in the Israeli capital markets. This analysis allows us to better understand the benefits and challenges of the adoption of XBRL.     

基于SystemVue的直序扩频通信仿真

System Vue是一个信号级的系统仿真软件,用户可以根据自己所需要研究的系统,构建仿真模型,设置修改系统参数,得到运行结果。本文利用System Vue这个仿真软件构造直接序列扩频通信系统的仿真模型,验证其系统的可行性。然后与普通二进制系统进行比较,得到两个系统对比的误码率图,结果表明直接序列扩频通信系统比普通二进制系统具有更强的抗干扰能力,最后通过改变扩频增益G的值来研究其对系统的影响。     

测量不确定度评定及其在电学计量中的应用研究

本文主要对不确定度评定理论进行阐述介绍,对其在电学计量中的应用做分析研究。     

高校扩招对于房价影响的研究

论文应用回归模型和格兰杰因果检验,利用2000-2013年住宅商品房均价和本专科毕业生人数的统计数据,实证分析了高校毕业生数增加对我国房价的影响,并探讨了误差修正模型的有效性。结果表明,高校扩招是引起房价上涨的因素之一,高校毕业生是住宅商品房的重要需求群体。最后结合当前分类调控房地产市场的政策,提出了政府应从需求角度分类调控房地产市场并重视市场自身的调节作用和市场供求规律的建议。