二元价值容介态股票投资价值评价

本文利用综合评价法,基于二元价值容介态理论,利用物质态和信息态双层筛选法,对A股上市公司进行综合评级,以挖掘有投资价值的上市公司。     

Identifying the Transition from Efficient-Market to Herding Behavior: Using a Method from Econophysics

We test whether “detrended fluctuation analysis” (DFA)—an econophysics method—identifies the transition from efficient-market trading to herding behavior and the rise of the NASDAQ dot.com stock market bubble. DFA divides a time series into “segments” of varying lengths and then tests whether power-law distributions exist within the segments. A power-law distribution of stock-price changes within a segment indicates herding behavior and the start of the dot.com bubble. The clarity of the transition indication depends on both segment lengths and segment starting dates. Our findings show that DFA can be used to identify the beginning of stock-market bubbles but not the beginning of crashes.     

Executive flight simulator as a learning tool in new companies’ resource planning based on the balanced scorecard

In many cases, a deficient strategic planning in new companies has led entrepreneurs to take inadequate initial decisions that, in the long term, reflect consequences in the failure of many new businesses. The objective of this article is to propose an executive flight simulator, which will help to identify and evaluate the different development strategies for resources of a new manufacturing company, under the four perspectives of the balanced scorecard, educating the user on the impact that these would have in the main performance indicators. The simulator is designed utilizing the focus of system dynamics to be used didactically in master's degree programs in administration, by entrepreneurs or in executive development programs.     

制度视角下保险市场秩序问题研究

本文从经济体制转轨背景下的主体行为冲突、"粗放"运作机制中的发展质与量冲突和制度体系中正式规则、非正式约束及其实施三方面对保险市场问题产生原因、机理进行了分析.以此为背景,讨论了制度冲突条件下影响监管效能的相关因素.针对问题成因和机理,提出规范市场的思路:一方面,逐步将法律法规、监管政策嵌入市场运行规则、公司内部制度,...     

逐鹿赛场智慧领跑--访威鹿(中国)有限公司总经理欧阳天进

7月18日"威鹿男装"赞助"曼联中国行"签字仪式在北京人民大会堂举行,"威鹿男装"成为2005年曼联中国之行唯一指定正装服饰.这也是继今年3月"威鹿男装"成为"2005厦门国际马拉松赛"官方赞助商之后,又一次牵手体育.     

房地产投资决策中实物期权方法的应用

传统的净现值投资决策方法将不确定性视为一种损失,忽略了项目投资的灵活性和战略性,往往造成项目价值的低估,而实物期权弥补了NPV法的不足。本文将实物期权方法}J入房地产投资决策中,对比分析了传统净现值法的一些不足,介绍了实物期权的基本理论,并采用了B-S期权定价模型对房地产投资决策过程中蕴含的迟延期权进行了案例分析。     

耗散理论视域下我国特大城市产业结构生态化转型研究

以生态文明建设为出发点,针对我国特大城市产业结构实际,以北京市为例,从耗散结构角度分析了北京市产业结构系统的困境,以及造成北京市产业结构失衡的熵增因素,提出产业结构生态化是特大城市未来产业结构演化方向。基于生态城市产业发展相关理论,结合耗散结构理论,提出通过引入含有负熵流的生态化政策与技术,如大力发展新兴产业、培养高新技术人才等,引起城市产业结构涨落,形成新的稳定结构,是我国特大城市产业结构生态化转型的重要解决途径。     

Fees for Reefs: Economic Instruments to Protect Mexico’s Marine Natural Areas

Stated preference methods can be used to estimate the demand function where no price variation has been observed before. This is the situation of the Mexican coral reef natural protected areas, where after the 2002 approval of a $20 pesos fee (US$1.80) the Ministry of the Environment is now considering increasing the amount of the fee, not only to raise more revenue for the park, but also to curb the number of visitors in the cases where there is excess demand. There are concerns that the very success of the reefs is bringing associated environmental damage that threatens its sustainable use. To estimate the reaction of visitors to different fee levels, we carried out a contingent valuation survey, and constructed with its results an aggregate demand for each park. This demand was then divided by seasons and nationalities, to explore the benefits and costs of differentiating fees, looking at both the revenue maximising and the welfare maximising fees. Finally we discuss how these fees would change when environmental damage functions are taken into account. The recommendation is that increasing fees up to the point where they cover both private and environmental costs would bring the highest amount of economic benefit compatible with the sustainable use of these complex and wondrous marine ecosystems.     

吉林省农用地生态服务功能价值时空演化研究

[目的]该研究从农用地的功能出发,以吉林省9个地市(州)作为研究对象,研究吉林省农用地生态服务功能价值时空演化规律。[方法]运用影子工程法、碳税法、造林成本法和替代法等多种方法测算2005—2015年吉林省农用地的生态服务功能价值,并运用Ar GIS10. 2对2005—2015年吉林省农用地生态服务功能的时空演变进行研究。[结果](1) 2005—2015年辽源市、白山市、四平市、松原市、通化市和延边州等农用地生态服务功能价值分别下降为-24. 33%、-22. 69%、-15. 88%、-12. 53%、-12. 09%、-5. 34%;(2) 2005—2015年白城市、吉林市和长春市农用地生态服务功能价值上升为25. 9%、7. 83%、0. 21%;(3) 2005—2015年吉林省林地和耕地的生态服务功能价值大于草地和水域的生态服务功能价值。[结论] 2005—2015年吉林省农用地生态服务功能价值存在着空间差异,呈现东高西低之势,究其原因是因为吉林省东部地区为低山丘陵地带,林地、水域面积大,生态环境保护比较好,而中西部地区为松辽平原,耕地面积较大,林地和草地面积较小,且伴随经济发展,城市发展不断蚕食农用地,使得农用地面积减少所致。研究结果旨在为保护生态环境、完善农用地价值补偿制度、保护农用地等方面政策的制定提供理论依据。     

阜新经济转型农业园区在探索中前进

阐述了资源枯竭型城市经济转型农业园区建设的做法、经验、存在问题和农业园区发展前景。