区域战略性新兴产业创新生态系统稳定水平评价研究

评估区域战略性新兴产业创新生态系统稳定水平,是调节与保障战略性新兴产业创新生态系统顺利运行的有效手段。结合创新生态系统稳定性表现,从结构、功能以及效益3个维度,构建战略性新兴产业创新生态系统稳定水平评价指标体系,引入熵权与层次分析方法进行组合赋权,设计基于规则的战略性新兴产业创新生态系统稳定水平评价方法,并以黑龙江省为例进行实证研究,最后提出保障创新生态系统稳定水平的优化策略。     

跨界搜寻的创新驱动力：一个有调节的中介模型

以来自4个省份的357家企业为研究对象,以动态能力理论为基础,探讨跨界搜寻对技术创新的影响,以及动态能力和技术动荡在其中的中介与调节作用。结果发现：跨界搜寻的两种类型搜寻（技术知识和市场知识）对组织技术创新具有显著正向影响。同时,动态能力中介两类跨界搜寻和技术创新之间的正向关系,在技术知识跨界搜寻与技术创新之间发挥完全中介作用,在市场知识跨界搜寻与技术创新之间发挥部分中介作用。此外,组织外部较高的技术动荡水平不仅会加强动态能力对技术创新的正向影响,还会强化动态能力在两种类型搜寻与技术创新之间的中介效应。     

功能性监管:现代金融业发展的必然选择

在全球化和金融一体化发展背景下，现代金融业向着混业经营方向发展。功能性金融监管在传统的金融监管模式基础上，更加侧重金融效率与金融机构的协调，从而顺应了这一发展潮流，成为现代金融业发展的必然选择。     

Combining the Effects of OLS and Spread on Futures Hedging: Evidence from the Taiwan Stock Index

Abstract:

This study proposes a dynamic hedge ratio, the combined ordinary least squares spread (COLSS), which combines the hedge ratio of ordinary least squares and the value of spread. Using this dynamic ratio for hedging with futures contracts, one can replace spot risk with spread risk. The COLSS captures not only the long-run equilibrium between spot and futures returns, but also the short-run deviation from equilibrium. The spread is forecast by one-period lagged stock market factors and high-order moments that are estimated by an options model. In the in-sample and out-of-sample tests, the COLSS strategy achieves significant risk reduction and outperforms the alternative models by a large utility improvement.     

高职服装专业英语课程教学改革的实践与研究

高职服装专业英语课程的设置,应当以"就业为导向",根据企业对掌握服装英语人才的实际能力需求,进一步明确其在服装专业课程中的定位和设计思路,并以项目为载体对课程内容进行重组,通过多种方式创新教学模式,达到该课程的改革目的和教育教学目标。     

The asymmetric information and price manipulation in stock market

The interaction between asymmetrically informed traders has been mostly investigated in theoretical frameworks. Not only there are relatively few empirical studies but, if any, the mostly focus on cross-sectional analysis and use very short samples. In this study, we blend theoretic with empirical, and propose a new signalling system of turning points in the economy to examine the extent of volatility of these markets relative to their tranquil periods. The signalling system proposed here is based on the Markov-switching model. Differing from the existing literatures, the study employs three phases and time-varying transition probability, and captures the states of volatility. After examining the causality between high volatility and foreign portfolio investment (FPI) by using moving average and generalized autoregressive conditional heteroskedasticity, the portfolio's profitability of FPI and individual investors in different periods are compared. Finally, the investigation of FPI's leading effect is studied.     

高科技企业成长性评价研究综述与展望

本文参考现有的国内外研究文献,首先,总结学者们关于高科技企业成长性内涵的界定;然后 ,从技术创新能力、经营绩效、竞争能力、外部环境支撑、核心竞争力与信用风险等研究视 角,以及财务与非财务指标两个维度,全面梳理高科技企业成长性评价体系研究现状,对高 科技企业成长性评价体系研究现状进行评述;最后,进一步提出高科技企业成长性评价体系 设计框架的研究构想。     

交互式多媒体教学：电子白板与多媒体相结合

多媒体教学已是现代教育技术的必备手段之一,然而随着实践的深入,它的缺点越发明显,如学生不易抓住重点、师生交互性不够等。电子白板与多媒体教学相结合可以达到,交互学习的效果,可以构建新型教学模式,充分体现板书的优点,提高学习效率、改善学习效果。     

邮政创新ATM管理机制初探

文章分析了ATM管理机制创新的背景,通过ATM监控短信平台的软件开发及管理应用,探讨了巢湖市邮政局管理机制创新形成的新举措,总结了建立新型ATM管理机制的思路。     

A Multicriteria Approach for Modeling Small Enterprise Credit Rating: Evidence from China

ABSTRACT

As the engine of China’s economy, small enterprises have been the central to the country’s economic development. However, given the characteristics of the small enterprises loan (i.e., short borrowing period, large volume, small amount and incomplete information), it is extremely challenging for financial institutions to assess their creditworthiness. Thus, it seriously delays and restricts the financing access for small enterprises. In an attempt to relieve the financing difficulty of small enterprises, this article makes use of 687 small wholesale and retail enterprises in a regional commercial bank in China, to establish a credit rating indicator system composed of 17 indicators by using both partial correlation analysis and probit regression. It then utilizes TOPSIS together with fuzzy C-means to score the credit ratings of our sample of small enterprises. With the dual test of default discrimination and ROC curve, the prediction accuracy of the established indicator system has reached 80.10% and 0.917, respectively, indicating the robustness and validity of our credit rating system.