文明的共赢

本文分析了福建省传统支柱产业的石材加工业的历史、现状以及在现代化过程中遇到的问题和存在的不足,探讨了传统产业的现代品牌塑造之路,透过福建省传统石材加工业的发展,对传统产业的现代化提出了一些建设性意见。     

征地补偿的新思路

征地矛盾已成农民上访和农村冲突的主要原因,创新征地补偿机制刻不容缓。鉴于现有一次性货币补偿机制具有难以克服的弊端,本文提出了一种地租补偿思路,即征地后向农民每年支付租金,租金根据农业收益确定,并根据其增加情况定期上调,费用由财政保证。这一补偿机制的实质是使被征地农民和其他真正从事农业的农民一样,不仅基本生存条件能得到保证,而且能长期分享经济发展、城市化和现代化的好处,而不是一次性地被利用之后永远地被抛弃。按照这一补偿机制,目前征地中存在的一些矛盾和纠纷以及过去征地的遗留问题也能很好地得到解决。     

品牌来源国和产品制造国对消费者产品质量评价和购买意愿的影响

This research explores the different effects of brand origin country and made-in country on consumers’ product evaluations and purchase intention. It is found that made-in cues have significant impacts on quality evaluation while brand origin cues influence purchase intention more prominently. Product quality is perceived lower when a brand from developed country is manufactured in developing countries, however, this may not affect consumers’ purchase intentions.      

Reform of China's Foreign Exchange Regime and its Implications in the Light of the Asian Financial Crisis

MOCT-MOST: Economic Policy in Transitional Economies -     

碳碳复合材料在光伏领域的应用与研究

直拉硅单晶炉、多晶硅铸锭炉是生产硅片的主要设备,其核心部件均为高纯石墨材料,随着太阳能光伏行业的发展,传统石墨材料很难满足直拉硅单晶炉和多晶铸锭炉生产设备的大型化需要,而碳碳复合材料具有良好的热物理性能,和石墨热场材料相比,具有非常大的优势,碳碳复合材料保温件、结构件和发热体将是直拉硅单晶炉和多晶铸锭炉等光伏设备热场材料的发展方向;针对碳碳复合材料结构件和保温件在使用过程中出现的问题,提出采用SiC涂层技术,来提高碳碳复合材料的使用效果和寿命,并在实验中取得了良好的效果。     

SERIES EXPANSION OF THE SABR JOINT DENSITY

Under the SABR stochastic volatility model, pricing and hedging contracts that are sensitive to forward smile risk (e.g., forward starting options, barrier options) require the joint transition density. In this paper, we address this problem by providing closed‐form representations, asymptotically, of the joint transition density. Specifically, we construct an expansion of the joint density through a hierarchy of parabolic equations after applying total volatility‐of‐volatility scaling and a near‐Gaussian coordinate transformation. We then establish an existence result to characterize the truncation error and provide explicit joint density formulas for the first three orders. Our approach inherits the same spirit of a small total volatility‐of‐volatility assumption as in the original SABR analysis. Our results for the joint transition density serve as a basis for managing forward smile risk. Through numerical experiments, we illustrate the accuracy of our expansion in terms of joint density, marginal density, probability mass, and implied volatilities for European call options.     

某污水处理厂的设计与运行

某污水处理厂一期工程规模为4×104 m3/d，采用卡鲁塞尔氧化沟处理工艺。污水处理厂总投资为4600万元，单位处理成本为0.41元/m3，单位水量电耗为0.26 kw·h/m3。运行结果表明：污水处理厂各项出水指标均能稳定达到《城镇污水处理厂污染物排放标准》（GB18918-2002）一级B标准。     

Marketing China's milk: A case study of the sales activity of dairy farmers in greater Beijing

Small farmer participation in marketing chains in emerging commodity markets and the determinants of their marketing channel choices are the center of many recent empirical and theoretical papers in the literature. The dairy sector is emerging in China. There are many fundamental questions about how farmers make dairy marketing decisions in China at the farm gate level that are unanswered. This makes the dairy sector in China a good place to study farmers in emerging marketing chains. Based on three sets of unique data collected in the mid-2000s in Greater Beijing, the analyses show that small farmers were the major producers of milk. There is no evidence that small farmers are being excluded from emerging marketing channels. One of the differences of China's dairy sector in the mid-2000s is that its marketing chain itself had many different types of agents that procure milk — and few of them were large; most were individual entrepreneurs. The high level of the competiveness may be the reason that individual agents do not have monopoly power and why small farmers can operate in the system.     

社会生产和分配的结合与人的生存和发展

社会的构成与人的生存和发展的经济基础是相关联的,社会保障人的生存和发展以生产和分配的结合为基础,而生产和分配的结合对人的生存和发展条件的保障具有决定性作用。实践表明,社会主义初级阶段,生产不能满足全体社会成员生存和发展的需要,是其最主要的社会矛盾。因此,衡量生产和分配结合的好坏,"保障人的生存和发展"这个标准要比"生产关系与生产力相适应"更好。人的发展经济学的研究要能用作制度构建的基础,这样才能够用于指导和服务于保障人的生存和发展的实践活动。对于人的生存和发展而言,经济学应该着重研究生产的组织方式与保障人的生存和发展的关系,着重研究分配的组织方式和保障人的生存和发展的关系,特别要研究生产的组织方式和分配的组织方式的结合对保障人的生存和发展的影响。     

The profitability of momentum trading strategies: Empirical evidence from Hong Kong

This paper investigates whether momentum trading strategies are profitable in the Hong Kong stock market, and examines the sources of such profitability. Momentum portfolios are significantly profitable in the intermediate term in Hong Kong, but the profits become insignificant after risk adjustment by the Chordia and Shivakumar (2001) model. The stock-specific return strategy and factor-related return strategy are analyzed to examine which portion of the total return causes stocks to enter extreme portfolios. The Chordia and Shivakumar factor-related return strategy obtains profits with a magnitude that is close to that which is attained by the total return momentum strategy. Additional evidence further supports the view that the Chordia and Shivakumar model captures momentum profits.