退市金融机构员工安置问题探讨

员工遣散安置是金融机构市场退出过程中的重要内容之一.员工安置工作关系到社会稳定,涉及面广,政策性强,其成功与否直接影响金融机构市场退出进程的顺利推进.由于相关法律法规不健全,员工安置常常缺乏明确的政策依据和规范的操作程序,处在边实践边摸索的阶段.近年来退市金融机构员工安置的实践表明,退市金融机构员工安置的法律法规政策适用、具体实践操作、存在问题以及发展方向等均值得探讨.     

Closed-Form Mortgage Valuation Using Reduced-Form Model

Valuing mortgage-related securities is more complicated than valuing regular defaultable claims due to the borrower's prepayment behavior as well as the possibility of default. Some researchers use a structural-form model to obtain the closed-form formulas for the mortgage value. With this method, however, it is difficult to identify the critical region of early exercise. As an alternative, the reduced-form model developed in this article is able to value the mortgage without setting boundary conditions, and it can thereby accurately handle the multidimensional space of correlated state variables. The purpose of this article is to derive a closed-form solution of the mortgage valuation equation under a general reduced-form model that embeds relevant economic variables. This new approach enables portfolio managers to undertake sophisticated portfolio optimization and hedging analyses. An implementation procedure for the model is also provided to demonstrate how the valuation framework can be utilized in practical applications.     

高职院校思想政治教育工作创新研究

和谐社会是以人为本的社会，人素质的提高和全面发展必须依靠教育。针对高职院校思想政治教育工作面临的新形势，必须对其进行机制改革和方法创新，通过对学生人性的充分肯定，对学生的智慧和潜能进行正确引导和开发，使之对自由与秩序、公平与正义满怀信心和追求，从而调动他们的积极性，最大限度地激发其创造力，成为构建社会主义和谐社会、推动社会协调发展的重要力量。     

山楂内消分散片中药材提取工艺研究

目的：优选山楂内消分散片中药材的最佳提取工艺。方法以正交试验法为核心,结合提取液中熊果酸的总含量以及总固体得率对优选山楂内消分散片中药材的提取工艺进行评判。结果较为理想的药材提取工艺：加水9倍,并先后2次提取,1 h/次。结论优选山楂内消分散片中药材的提取工艺各活性部位具有较高提取率,且利于操作,方便生产。     

债券组合Theta对冲的实证研究

本文推导了Diebold-Li广义久期向量模型下的Theta,并利用上交所国债数据进行实证研究。结果表明,在久期匹配的条件下引入凸度匹配或Theta匹配均可减小风险对冲误差,且引入凸度匹配时风险对冲误差更小。     

可回售条款与债券违约风险关系研究

近年来,随着可回售债券发行数量的增多,债券违约事件数量整体也呈现上升的趋势。本文在分析2014年至2020年6月末我国债券违约情况的基础上,结合债券发行时间对可回售条款选择的现有理论,得出可回售权和债券违约密切正相关的理论命题,并运用PSM(倾向得分匹配)和Logit模型实证检验回售权和债券违约的定量关系。结果表明:与未含有回售权债券相比,含有可回售权债券违约率更高,且公司未来经营变差的可能性更大。     

The inversion of married women's labour supply and wage: Evidence from Thailand

This study investigates the labour supply behaviour of married Thai women with reference to their own and their spouse's wages. Controlling for spousal education and number of children, the main findings indicate an inverse relationship between married women's labour supply and wages, contrary to the evidence from developed countries. The estimated own wage elasticity ranges from ?1.70 to ?2.40 and the cross elasticity ranges from ?0.16 to ?0.17, indicating that the impact of own wage on labour supplied is much larger than spouse's wage. The results from disaggregation classified according to different socioeconomic backgrounds also show negative elasticities between own and spouses' wage across all subgroups, except for those with university degrees and higher income.     

Incentives to move up: Effects of pay gaps between levels on employee performance

Employees of a certain rank are motivated by the pay gap between them and the levels above (upward comparison), and the pay gap between them and the levels below (downward comparison). In some cases, employees face multiple upward comparisons such as immediate and subsequent upward comparisons. We hypothesise that upward comparison matters more than downward comparison, and in the case of multiple upward comparisons, the immediate one matters more than the subsequent ones. We also hypothesise that the pay gap effect resulting from the upward/downward comparison ought to be non‐linear in that performance increases with pay gap size at a decreasing rate. The results from two empirical studies, namely, a longitudinal field study and a laboratory experiment, largely support our hypotheses.     

石化产业结构调整中的若干问题

90年代以来,世界石化市场重心偏移亚洲,中国石化工业面临着激烈的币场竞争,根据2000年我国石化工业市场占有率的目标提出了市场、产销一体化、规模、产业布局、相关产业和体制改革等产业结构调整中的问题和相应实施的措施。     

嫘祖归来兮

嫘祖这位伟大的人文始祖,德配黄帝,衣被天下,福泽万民,功高日月。但许多人却不知道,她生于盐亭,葬于盐亭。