美联银行和巴克莱银行的ITIL建设

那些真正盈利的公司，比如美联银行、巴克莱银行，都在运用ITIL最佳实践。两家公司都已在过去实施ITIL框架，并且从中得到巨大的成本节约和生产力提升。     

A system maintenance approach to analyzing the Italian judicial system reform proposal of 2010

In this paper, we analyze the Italian reform of the judicial system proposed in 2010 by using multi-state models. The transitions between states are assumed to be generated by a semi-Markov process. The introduction of the reform is considered as a general system maintenance policy. The effects of the reform are evaluated by computing the system’s transition probabilities, failure rates and odds ratios of failure rates. The introduction of a reward structure measures the impact of the reform from the point of view of costs. An example showing the possibility of implementing a real data application is presented.     

Fractional cointegration and tests of present value models

This paper tests the validity of present value (PV) models of stock prices by employing a two-step strategy for testing the null hypothesis of no cointegration against alternatives which are fractionally cointegrated. Monte Carlo simulations are conducted to evaluate the power and size properties of this test, which is shown to outperform existing ones, and to compute appropriate critical values for finite samples. It is found that stock prices and dividends are both I(1) nonstationary series, but they are fractionally cointegrated. This implies that, although there exists a long-run relationship, which is consistent with PV models, the equilibrium errors exhibit slow mean reversion. As the error correction term possesses long memory, deviations from equilibrium are highly persistent.