信息不对称与我国证券市场的风险性刍议

在中国的证券市场中 ,由于存在着利益冲突 ,信息不对称问题的严重性也就尤为突出。我们应注重信息的客观、全面、准确和对称 ;通过对所采集信息的综合分析 ,提高信息的使用价值 ,并避免由于信息不对称或信息泛滥所带来的“信息泛滥综合症”。     

信息产业发展现状与战略对策研究

信息产业的规模与发展水平是衡量一个国家现代化与综合国力的重要标志。本文在分析我国信息产业发展现状的基础上,阐述了信息产业发展对我国经济运行的影响,并剖析了信息产业面临的问题和现阶段的应对策略。     

“长江三角洲物流业发展分析”系列之二：宁镇扬地区物流业发展现状分析

近日，江苏省提出了宁镇扬经济板块的概念，并且这一概念已经纳入了江苏省经济发展的战略中。这是江苏首次将宁镇扬作为一个经济发展整体板块提出，也是江苏经济发展战略中的重要布局。“宁镇扬经济板块”是指南京、镇江、扬州构成的三角地带。“宁镇扬经济板块”的提出基于两个方面的重要背景：     

EXISTENCE OF AN EQUILIBRIUM WITH DISCONTINUOUS PRICES, ASYMMETRIC INFORMATION, AND NONTRIVIAL INITIAL σ-FIELDS

In this paper, we solve the problems of optimization and equilibrium on a continuous-time financial market with discontinuous prices, in which agents have different random endowments and different information on the structure and future behavior of the prices. Our purpose is to go over and to extend the work of Pikovsky and Karatzas (1996) by using the theory developed by Amendinger (2000) about martingale representation theorems for initially enlarged filtrations, and to generalize the results in the case of discontinuous prices.     

哈尔滨市现代流通业竞争力现状、问题与对策

经过20多年的改革开放,哈尔滨市流通业已进入快速发展阶段,但流通业总体发展还存在诸多问题,制约了流通业的健康持续发展,严重影响了流通业的竞争力。文章提出建立一套流通业竞争力评价指标体系评价哈尔滨市流通业综合竞争力,探索流通业发展中存在的问题,通过制定相应的产业政策和培育大型流通企业和企业集团等措施,培育哈尔滨市流通业有效竞争市场模式,增强流通业的综合竞争力,促进哈尔滨市流通业的健康发展。     

OPTIMALITY AND STATE PRICING IN CONSTRAINED FINANCIAL MARKETS WITH RECURSIVE UTILITY UNDER CONTINUOUS AND DISCONTINUOUS INFORMATION

We study marginal pricing and optimality conditions for an agent maximizing generalized recursive utility in a financial market with information generated by Brownian motion and marked point processes. The setting allows for convex trading constraints, non-tradable income, and non-linear wealth dynamics. We show that the FBSDE system of the general optimality conditions reduces to a single BSDE under translation or scale invariance assumptions, and we identify tractable applications based on quadratic BSDEs. An appendix relates the main optimality conditions to duality.     

AN ASSESSMENT OF THE INFORMATION GIVEN IN RAILWAY TIMETABLE-LEAFLETS

A comparison of the rail services given in timetable-leaflets available free from British Rail with those found in the full passenger timetable has revealed that the former often miss out many useful services. Leaflets frequently refer to travel via only one route, when another route can also have useful services.     

加入WTO对东北地区粮食产业发展的影响及对策

加入WTO ,给我国很多产业带来跳跃性发展的机遇 ,但对粮食产业而言 ,挑战远远大于机遇 ;东北地区作为我国粮食生产的主产区和集散地 ,其今后的发展影响着东亚甚至世界粮食贸易格局的形成 ,也决定了能否为我国的粮食安全提供有效的保障。     

AN INVESTIGATION OF ADVERTISING RIVALRY IN THE AUSTRALIAN BANKING INDUSTRY

This paper examines advertising rivarly in the Australina Banking Industry. It offers a theoretical discussion of a number of criteria that may be used in distinguishing the role of advertising in an oligopolistic market framework. Empirical evidence is obtained by testing single and simultaneous equation models.     

现代企业营销必须开发利用市场信息

本文论述了市场经济条件下企业市场营销策略的主要内容,并在此基础上着重分析了现代企业营销离不开市场信息的开发利用。     

STABILITY OF THE UTILITY MAXIMIZATION PROBLEM WITH RANDOM ENDOWMENT IN INCOMPLETE MARKETS

We perform a stability analysis for the utility maximization problem in a general semimartingale model where both liquid and illiquid assets (random endowments) are present. Small misspecifications of preferences (as modeled via expected utility), as well as views of the world or the market model (as modeled via subjective probabilities) are considered. Simple sufficient conditions are given for the problem to be well posed, in the sense that the optimal wealth and the marginal utility‐based prices are continuous functionals of preferences and probabilistic views.     

国有企业信息化建设存在的问题及对策

搞好信息化建设以提高企业核心竞争力,对于国有企业来说已成为当务之急。文章通过对国企信息化内容的描述和对目前存在问题的分析,提出了针对当前形势下的国企信息化建设的相关对策。     

CONSUMPTION AND PORTFOLIO POLICIES WITH INCOMPLETE MARKETS AND SHORT-SALE CONSTRAINTS IN THE FINITE-DIMENSIONAL CASE: SOME REMARKS

This paper extends He and Pearson's (1991) martingale approach to the study of optimal intertemporal consumption and portfolio policies with incomplete markets and short-sale constraints to a framework in which no assumptions are made on the price process for the securities. We show how both their characterization of the budget-feasible set and duality result can be extended to account for an unbounded set II of Arrow-Debreu state prices compatible with the arbitrage-free assumption. We also supply a (fairly general) sufficient condition for II to be bounded, as required in their setting.     

雁行发展理论与我国生产能力过剩产业的发展

近几年 ,我国国内市场不景气 ,我国部分行业生产能力严重过剩的问题逐渐凸现出来。这些产业严重过剩的生产能力如何寻找新的出路 ?根据雁行发展形态理论分析了这些产业的发展历程 ,提出通过细分国际市场 ,把握比较优势 ,以扩大出口 ,从而解决我国部分产业生产能力严重过剩的问题     

THE ADOPTION OF FORM POSTPONEMENT STRATEGY IN A GLOBAL LOGISTICS SYSTEM: THE CASE OF TAIWANESE INFORMATION TECHNOLOGY INDUSTRY

The concept of postponement is becoming more and more important as firms put more emphasis on customization along with attempting to control inventory risks and logistics costs. Types of form postponement are examined along with factors affecting the adoption of different form postponement strategies. Data from information technology (IT) firms in Taiwan, one of the largest IT product manufacturers in the world, are utilized in the research.     

INDIVIDUAL AND ENVIRONMENTAL IMPACTS ON SUPPLY CHAIN INVENTORY MANAGEMENT: AN EXPERIMENTAL INVESTIGATION OF INFORMATION AVAILABILITY AND PROCEDURAL RATIONALITY

Some strategies for mitigating ordering inefficiencies in supply chains advise sharing information among decision‐makers. However, there has been little consideration of how individual perceptions intervene in the use of available information in decision‐making processes. This article reports the results of an experiment in which participants were instructed to minimize inventory holding and backlog costs for their supply chains as a whole. The analysis suggests that additional information affects supply chain inventory management costs only when rational decision‐making processes are followed. Decreased costs are observed when rational decision‐making is applied with backlog information. In contrast, increased costs are observed when consumer demand information is available.     

管理信息化与企业流程再造研究

作为企业改造的方法 ,企业流程再造理论即BPR已引起业界广泛的注意。作为企业运行的手段 ,企业的管理信息化工作越来越受到人们的重视。在深入分析了企业流程再造思想的基础上 ,提出了企业流程再设计的原则 ,分析了管理信息化与企业流程再造二者的关系 ,指出了企业流程再造是管理信息化的基础 ,管理信息化对企业流程再造的支撑作用。     

我国化工产业对外反倾销问题研究

化工产业在我国国民经济中占有重要地位,且在我国进出口贸易中占有很大比重.近年来,在我国外贸额快速增长的同时,大量进口化工产品不断冲击国内市场,进口化工产品倾销越来越严重,对我国化工产业的发展构成了损害和威胁,因此,有效运用反倾销措施保护我国受损产业已刻不容缓.