后疫情下休闲体育产业高质量发展的推进策略

新冠疫情以来,人们的健康意识觉醒,体育产业越来越受重视,本文通过对疫情期间体育产业受到的影响进行分析,从体育消费、体育产品中小企业、体育赛事几个方面阐述了疫情以来体育产业受到的阻碍。凡事都有两面性,疫情也为体育产业带来了新的机遇,"线上+线下"融合、新兴产业的崛起、人们健康意识的加强都因为疫情带来了新的发展动力。在后疫情时代,政府应该推出新的政策与措施鼓励体育产业发展,市场则应该抓住机遇实现体育产业的供给侧改革,通过与新兴产业、互联网等的结合,推动体育产业的转型升级。     

油气企业供应商管理存在的问题与建议——以CS公司为例

伴随着供应链管理的应用与发展,越来越多的企业认识到必须充分利用内外资源保持自身的竞争实力。作为重要的外部资源,供应商管理关系到企业成本与收益的平衡,而要做好供应端的成本管理首先要做好供应商的选择和优化。针对CS公司的供应商管理现状及存在的问题,探索适应企业的可操作性强的对策,以期为我国大型油气企业的供应商管理实践提供一定的参考。     

经济新常态下煤炭企业发展战略研究

着眼于当前我国煤炭企业的新环境,我们要转变视角,致力于探索推动我国煤炭行业发展的新途径和新方法,为了更好地保护矿工的合法权益,保障煤炭行业的可持续发展,煤炭企业需要引进一些创新性技术和先进管理理念。论文主要基于关心矿工生命安全和煤炭企业安全发展的角度,对目前我国煤炭企业的发展提出一些思考和策略。     

基于GM(1,1)模型的造纸业上市公司财务研究——以冠豪高新为例

财务风险是企业调整发展战略、提升管理水平的重要参考指标之一。财务风险预测模型的建立能够预测企业在中短期内的财务风险,为企业敲响警钟。以造纸业上市公司冠豪高新为例,选取近五年财务杠杆系数为风险指标,建立GM(1,1)风险预测模型,结果显示该公司短期内财务风险呈下降趋势,调查发现这主要得益于产品成本的降低以及营销策略的改变。     

Covariance breakdowns and connectedness of crude oil futures markets with non-synchronous data

ABSTRACT

This article identifies the breakdowns in the covariance of three benchmark crude oil futures markets (WTI, Brent and Dubai) and investigates the changes of market connectedness across the breakdown periods. As the crude oil futures are traded in different regions, this article eliminates the non-synchronous trading data by employing the Vector Moving Average structure and the Bayesian data augmentation approach, which keeps the integrity of original data without changing its properties. The results show that there are significant breaks in the covariance structure of crude oil futures markets. The breakdown periods are consistent with the periods when the market volatilities are at high level and the returns are volatile. The changes of market connectedness are independent of the covariance states, which supports the globalization hypothesis for the crude oil market. The results also suggest that there is more information flow out of the WTI than to the WTI during the sample period, particularly during the breakdown periods in 2008–2009.     

Impact of state-dependent oil price on US stock returns using local projections

In this paper, we investigate the impact of oil prices on both aggregate and industry US real stock returns over the period 1973–2017. The empirical analysis contributes to the related literature introducing a state-dependent oil price (high and low) and the local projections approach. Our main finding is that, depending on the nature of the shock and industry, the negative effects of oil price shocks become exacerbated -and the positive effects get moderated- if oil prices are already high.     

Quantifying the impact of the COVID-19 pandemic on US airline stock prices

This paper uses data at the trading day frequency and the method of local projections to quantify the dynamic responses of U.S. airline stock prices to a COVID-19 shock. We show that airline stock prices decline immediately by 0.1 percentage point in response to a 1% COVID-19 shock. In addition, the effect of the shock persists beyond the day on which it occurs, with most airline stock prices falling by as much as 0.6 percentage points after fifteen days. This negative response of airline stock prices to a COVID-19 shock is not explained by a COVID-19-induced increase in airlines’ variable costs, but rather by a COVID-19-induced decrease in air travel, which, in turn decreases revenues, profitability, and stock prices of U.S. airlines.     

甜菊糖苷的功能特性及其在饮料工业中的应用

甜菊糖苷作为天然的高甜度、低热量甜味剂,已被广泛应用于食品、饮料中。本文阐述了甜菊糖苷的化学结构、理化功能特性,综述了甜菊糖苷的研究现状以及在饮料工业中的应用,指出其发展前景广阔,为甜菊糖苷的深入研究提供参考。