Monday returns and asset pricing

The seasonal patterns observed on Monday stock returns are still unexplained by different asset pricing models. We attempt to fill this gap in the finance literature by using the Fama-French (Journal of Financial Economics 33:3–56, 1993) risk factors to explain the Monday seasonal. The results in the study show that Monday returns are explained by risk factors such as the market return, the size of the firms, and the book-to-market ratios of firms.     

Endogenous elites: power structure and patron-client relationships

In weak institutional settings, autocrats barter political and economic concessions for support to remain in power and extract rents. Instead of viewing the favors’ beneficiaries, i.e. the elites, as an exogenous entity, we allow the king to decide whom to coopt provided the subjects are heterogeneous in the potential support—their strength—they could bring to the regime. While the ruler can select the elites on the basis of their personal characteristics, an alternative strategy consists in introducing some uncertainty in the cooptation process. The latter strategy allows the king to reduce the clients’ cooptation price since in the event of a revolution the likelihood of being included in the future body of elites is lower. We show that weak rulers are more likely to coopt the society’s strongest individuals, while powerful rulers diversify the composition of their clientele. Moreover, when agents value more future discounted outcomes, the king is more likely to randomly coopt subjects.     

Competition for private capital and central grants: the case of Japanese industrial parks

Local governments invest in public infrastructure to develop their regions. When they depend on intergovernmental grants for local development and have opportunities to lobby upper-level governments for such grants, horizontal intergovernmental competition in lobbying activity may emerge in addition to competition over public infrastructure. This paper empirically examines the existence of these interactions between Japanese localities, by using data on the value of industrial parks as infrastructure provisions and on personnel interchanges between the central and local governments as a measure of lobbying activity. Our results suggest that a Japanese local government’s choice of the size of industrial parks and its invitation to central officers to act as a director on loan are positive responses to the neighboring local government’s policy choices. As the value of the industrial parks in a district is affected by the neighboring districts’ lobby activities and their industrial park values, we can interpret these results as evidence of inter-regional competition in these two dimensions, rather than control by the central government in this unitary state.     

Allocation of public funds to R&;D: a portfolio choice-styled decision model and a biotechnology case study

A decision problem—allocating public research and development (R&D) funding—is faced by a planner who has ambiguous knowledge of welfare effects of the various research areas. We model this as a reverse portfolio choice problem faced by a Bayesian decision-maker. Two elements of the planner’s inferential system are developed: a conditional distribution of welfare ‘returns’ on an allocation, given stated preferences of citizens for the different areas, and a minimum risk criterion for re-allocating these funds, given the performance of a status quo level of funding. A case study of Canadian public research funds expended on various applications of agricultural biotechnology is provided. The decision-making methodology can accommodate a variety of collective expenditure and resource allocation problems.     

食品中钙含量的测定

文章采用重量滴定法对食品中的钙含量进行了测定,并将结果与容量滴定法进行相比,准确度高,操作简单便捷,回收率高,重现性好。     

基于虚拟仪器的熟条质量在线检测系统的开发

利用LabVIEW软件平台开发了基于虚拟仪器的熟条质量在线监测系统,通过软硬件相结合,借助于数据采集卡,实时采集信号电压值并检测,利用电压值和纱条条干之间的函数关系,对熟条条干在线测量,实现实时测量分析。与传统分析仪相比,具有操作简单、处理能力强、图形输出等优点。     

基于GM(1.1)模型的西宁市商品房价格预测研究

采用西宁市1999-2008年商品房价格数据,以灰色系统理论为基础,利用GM(1,1)模型对西宁市商品房价格进行了预测。结果表明:未来5年西宁市商品房价格仍将呈上涨趋势。     

关于促进房地产业稳定健康发展的对策研究

房地产业是国民经济中的重要产业之一,在我国经济、社会生活中发挥着重要的作用。但房地产业发展中也存在房地产价格总体偏高、房地产开发结构性矛盾突出、房地产市场操作不规范等问题。因此,对房地产业进行宏观调控、促进房地产业稳定健康发展,对于稳定经济、保障民生问题的解决是非常必要的。     

搞好客服文化建设,提高企业服务竞争力

企业客服人员是直接面向客户的团队,服务水平的高低直接影响着企业的客户满意度和企业的名誉。文章先分析了企业重视客服工作的必要性,然后从企业的软环境和硬环境两个方面分析了如何提高员工对企业的满意度和忠诚度。软环境方面包括员工的思想的统一、员工的技能的提高、团队精神的建设、员工的激励活动,硬环境包括客服部门办公室的布置、绿化、空气、光线、颜色、声音,文章重点分析了这些因素对员工工作的影响,并提出了解决方案。     

基于云计算的虚拟桌面的架构方案探析

虚拟桌面是典型的云计算应用,它能够在云中为用户提供远程的计算机桌面服务。服务提供者在数据中心服务器上运行用户所需的操作系统和应用软件,然后采用桌面显示协议将操作系统桌面视图以图像的方式传送到用户端设备上。同时,服务器将对用户端的输入进行处理,并随时更新桌面视图的内容。通过分析某企业虚拟桌面的需求,探讨基于云计算概念设计虚拟桌面的架构方案。