网络型组织创新能力分析

网络型组织是知识经济时代产生的一种新型的组织形式.“需求不确定性“是网络型组织取代科层组织的外部环境因素,而结构扁平化、核心能力互补优势资源共享以及“市场交易组织化“是网络型组织能够克服“需求不确定性“,进而具有获利优势的组织因素.     

精细化管理科技创新增效益

长期以来,大庆油田矿区服务业务伴随着大庆油田的开发建设不断完善,发展壮大,无论是在艰苦创业阶段,还是在市场经济条件下,矿区服务系统作为油田生产和职工生活的后勤基地,始终发挥着支撑保障作用.     

如何培养学生的数学应用意识——《新课标》下小学数学应用意识培养初探

小学生的学习离不开生活,兴趣是引导学生进行有效学习的捷径.所以,培养学生的应用意识,也应该从学生的生活实际开始,把我们的课堂变成联系生活与知识的平台与纽带.课堂教学是教师教学的主要方式,教师培养学生的应用意识,必须从生活中来,到生活中去.     

浅析事业单位编外人员薪酬管理现状及完善对策

由于受各种历史及观念的影响,事业单位编外人员不能够享受与编制人员同等的薪酬福利待遇,从而导致了其工作热情下降.以勘测事业单位为例,这种技术密集型的企业亟需高技术人才的加入,而现有的编外人员薪酬制度在一定程度上制约了人才的引入.本文将就事业单位编外人员薪酬管理现状进行分析,提出薪酬改革的设想.     

台湾产业升级过程中人力资源的开发

在台湾产业发展和产业升级过程中,产业人力资源结构发生很大的变动,出现结构性的人力资源紧缺与流失。为此,台湾当局大力发展职业技术教育、促进海外人力资源回流、加强产业人力资源培养、推动产业创新等一系列推动产业人力资源发展的对策措施,具有一定的参考借鉴意义。     

论民族旅游村寨“农家乐”独特优势资源——以贵州西江千户苗寨为例

文章以贵州西江千户苗寨为例,通过实地调查研究,对民族旅游区内农家乐经营者和旅游者作出大致分类,分析两者的文化传播与接收角色,对比其他地区农家乐类型之后,总结出民族旅游区的独特优势资源,这对少数民族文化在旅游发展中的传承与变迁具有一定价值。     

城市环境治理新理念及其对城市管理的理论突破

城市环境治理就是各类治理主体对城市环境公共事务进行合作参与、多元化管理的过程或状态,城市环境引入治理,演化为城市环境治理的新概念,可以改变我们长期以来对城市环境管理作用与方式的传统理解,同时也可以使我们通过城市环境治理作用实现城市环境管理作用方式的根本转变。     

Migrate or not? The effects of regulation SHO on options trading activities

In this study, we investigate the effects of stock short-sale constraints on options trading by exploiting two US Securities and Exchange Commission rule changes under Regulation SHO: Rule 203 (locate and close-out requirements) and Rule 202T (temporary removal of short-sale price tests). We find that stock short selling activities decrease (increase) significantly after Rule 203 (Rule 202T) implementation, supporting the validity of Rule 203 (Rule 202T) as an exogenous increase (decrease) in short-sale constraints. Options volume increases significantly after Rule 203 went into effect and the result is more pronounced among firms with lower levels of institutional ownership and smaller options bid-ask spreads. Therefore, the evidence from Rule 203 suggests that investors may use options as substitutes for stock short sales when short selling is less feasible or more costly due to the locate and delivery requirements. In contrast, we find no significant change in the options trading volume of pilot stocks during the pilot program of Rule 202T. Overall, our results indicate that the impact of short-sale constraints on options trading varies with the types of constraints affected.     

Non-parametric method for European option bounds

There is much research whose efforts have been devoted to discovering the distributional defects in the Black–Scholes model, which are known to cause severe biases. However, with a free specification for the distribution, one can only find upper and lower bounds for option prices. In this paper, we derive a new non-parametric lower bound and provide an alternative interpretation of Ritchken’s (J Finance 40:1219–1233, 1985) upper bound to the price of the European option. In a series of numerical examples, our new lower bound is substantially tighter than previous lower bounds. This is prevalent especially for out of the money options where the previous lower bounds perform badly. Moreover, we present how our bounds can be derived from histograms which are completely non-parametric in an empirical study. We discover violations in our lower bound and show that those violations present arbitrage profits. In particular, our empirical results show that out of the money calls are substantially overpriced (violate the lower bound).