斜坡型需求情况下变质性产品的生产库存策略

考虑了在生产企业的需求率服从斜坡型分布的情况下,允许缺货且缺货完全回补、补货率有限、变质率服从威布尔分布的变质性产品的生产库存策略,给出了相应的生产库存模型,并给出了求解该模型的算法和算例.     

独立学院图书馆服务教学和科研工作的若干思考——以广西工学院鹿山学院图书馆为例

高校图书馆的主要任务是服务教学和科研工作。独立学院作为我国高等教育的重要组成部分,其图书馆的功能也和普通高校一样。文章对当前独立学院图书馆服务教学和科研工作中存在的问题进行了分析和探讨,并就独立学院图书馆如何更好地为教学和科研服务提出一些建议和看法。     

Option pricing with discrete time jump processes

In this paper we propose new option pricing models based on class of models with jumps contained in the Lévy-type based models (NIG-Lévy, Schoutens, 2003, Merton-jump, Merton, 1976 and Duan based model, Duan et al., 2007). By combining these different classes of models with several volatility dynamics of the GARCH type, we aim at taking into account the dynamics of financial returns in a realistic way. The associated risk neutral dynamics of the time series models is obtained through two different specifications for the pricing kernel: we provide a characterization of the change in the probability measure using the Esscher transform and the Minimal Entropy Martingale Measure. We finally assess empirically the performance of this modelling approach, using a dataset of European options based on the S&P 500 and on the CAC 40 indices. Our results show that models involving jumps and a time varying volatility provide realistic pricing and hedging results for options with different kinds of time to maturities and moneyness. These results are supportive of the idea that a realistic time series model can provide realistic option prices making the approach developed here interesting to price options when option markets are illiquid or when such markets simply do not exist.     

SMT教学企业的建设模式与运行机制研究

教学企业是高职院校专业核心技能培养的主要平台,它承载着教学实践、培训、科研和社会服务四大功能,教学企业的建设需要校企合作,需要校企双方资金与资源的投入,既要自负盈亏,又要服务于教学,本文通过介绍企业、行业、同类院校的调研,提出一种新型的教学企业建设模式和运行机制,高校作为主要建设方,企业在校企合作理事会的指导下运营企业,有效地平衡了企业利益和学校教学需求之间的矛盾,使得教学企业的运营与管理稳定且可以持续发展。     

国有企业人才流失的原因与对策研究

本文对国有企业人才流失现状和原因进行了分析,并且提出了治理国有企业人才流失的相应措施,希望对国有企业人力资源战略管理改革有所裨益。     

XML在电子商务中的应用

XML是SGML的一个简化子集,XML已经成为电子商务系统中数据交换最主要的标准,在电子商务应用领域,加速并推动了电子商务的发展。该语言受到了业界的普遍欢迎和支持,主要是由于它具有简单性、可扩展性等特点,电子商务是以提高生产和管理效率从而获取最大利润的商务模式,整合了资金流、信息流与物流,是传统活动的电子化、数字化、网络化、信息化与全球化。在企业与企业进行商务活动过程中,具有不同的数据格式和商业意义,需要传送各种数据,这些数据分别由不同的商业应用产生。目前,企业电子商务需要解决的一个关键问题,是在不同行业、不同领域,实现企业之间的交互(interoperability),传输这些商业数据。     

What drives informed trading before public releases? Evidence from natural gas inventory announcements

This paper shows evidence of informed trading in the natural gas futures market before gas inventory announcements. We examine whether traders can predict the upcoming announcement by processing public information. The results show that the difference between the median forecast of analysts with high historical forecasting accuracy and the consensus forecast can be used to predict inventory surprises. This predictor explains some of the pre‐announcement price drift, suggesting that informed trading before the announcement is likely to be driven by superior forecasting rather than by information leakage. A simple trading strategy conditioned on the predictor would have generated an annualized Sharpe ratio of 1.26.     

谈环境保护中水污染治理的措施

随着人民生活水平的不断提高,水资源使用需求越来越高,人们表现出对水质和水量极高的要求.由于很多人并没有节约用水、保护水资源的意识,水的利用和排放问题并没有得到很好地解决,国内存在很严重的水污染情况.因为没有妥善处理污水问题,所以城市的环境污染问题十分严重从某种角度来看,该问题甚至会限制城市的发展,增加城市安全用水的压力.为此,有必要做好当前国内水污染情况的分析研究,根据实际需求提出合理有效的对策,其对于缓解国内环境污染问题有极大帮助,可以有效改善与解决水资源紧缺情况.     

Sniping in soft-close online auctions: empirical evidence from overstock

Marketing Letters - The existing studies suggest that sniping is an equilibrium strategy in hard-close online auctions, but not in soft-close ones. In this paper, we use a unique, large-scale data...     

Inequality,leverage and crises: Theory and evidence revisited

Rajan points to rising income inequality as a root cause of the recent financial crisis through high household leverage. The Rajan hypothesis has ignited debate over the relationship between inequality, leverage and crises. Kumhof, Ranciere, and Winant prove the validity of this hypothesis with a theoretical formulation, but empirical studies provide mixed evidence using different samples and estimators. To clarify this controversy, we re‐examine the issue by using the same data as in the literature and provide additional evidence after taking into account the role of asset bubbles and policy interventions. Our regression is based on a new tractable theoretical model that is supported by key stylised facts, and all our analyses confirm the existence of the inequality–leverage–crisis nexus.