卖方分析师佣金解绑改革与中国实践--基于MiFIDⅡ的思考

卖方分析师利益冲突问题损害了投资者利益以及市场稳定性。为提高分析师独立性,欧洲2018年出台的《欧盟金融工具市场指令Ⅱ》首次拆分了分析师的分仓佣金与研究费用。研究发现,该举措实施后,伴随着卖方研究质量提升、低质量分析师退出市场,分析师利益冲突问题得到缓解,促进了卖方服务内部化转型、买方研究加速形成以及投资者交易透明度的提升,但同时也带来了研报价格恶性竞争、市场信息环境受损、人才非优流动等负面影响。我国分析师佣金制度存在披露透明度不足、研究服务界定不明、佣金分配缺乏有效监管等问题,现阶段完全解绑佣金可能引发潜在风险,应采取相对柔性的改革思路。监管机构宜推动改革基金管理费用,塑造市场激励机制;券商应提升综合研究能力,推进业务模式转型,探索差异化发展之路。     

普惠型医疗保险发展:实践困境与优化方向

近年来,普惠型医疗保险成为多层次医疗保障体系发展的一大热点。文章首先介绍了中国普惠型医疗保险的发展现状及主要特点,其次通过对国内部分保险公司线上及线下调研,发现当前普惠型医疗保险发展面临配套法律法规有待健全、市场认可度普遍偏低、可持续经营能力不强、保险效果低水平重复、相关主体联动不足等困境。进一步分析美国、英国、德国、新加坡相关经验,提出具体的优化路径:以优化顶层设计为立足点,提高保险规制水平;以强化市场环境建设为切入点,提升市场认可度;以优化运行模式为突破点,激发保险生命力;以设计差异化产品为关键点,强化保险增补性;以建立联通机制为动力点,提高相关主体协同度。     

Water Bloom Precursor Analysis Based on Two Direction S-Rough Set

In the field of water quality management, it is vital to determine the main precursory anomalies from the precursor of intricate water bloom in the context of a given area. In this paper, a water bloom precursor analysis method, based on two direction singular rough set, was proposed. This approach was produced on the basis of the different sections and pre-water bloom of water bloom precursor anomalies and characteristic of elements transferred in singular rough set. For testing the validity of two direction singular rough set application in water bloom precursor analysis, Xiangxi River, which is one of the typical tributaries of Three Gorges Reservoir in China, was selected as study area. The result showed that compared with other indexes, pH and dissolved oxygen (DO) are the most valuable indicators of water bloom in the precursory anomalies. Furthermore, regarding with water bloom precursory anomalies in Xiangxi River, most of the nutrient loading and biological community are the key indicators. Hence, this method can determine the main precursory anomaly for water bloom in the study area, which provides powerful knowledge support to water quality specialists for them to comprehensively analyze precursory anomaly so as to find out its relationship with occurrence law of water bloom.     

基于结构方程模型的征地对移民福利影响分析

为了解工程征地对农村移民福利的影响,采用结构方程模型,对南水北调丹江口水库移民进行了实证分析,结果表明:搬迁前后土地面积变化、土地质量变化尤其是补偿标准高低这3方面的征地状况对水库移民福利具有比较显著的影响,其中前者为负向影响,后两者为正向影响;水库移民福利与发展机遇、经济收支、社会适应、居住条件、社会保障的关系显著。因此,水库移民安置应合理提高征地补偿标准,大力实施精准帮持改善移民的发展机遇与经济收支等状况,以确保移民福利改进与获得感增强。     

深圳市大康河综合整治工程生态化治理研究

以大康河综合整治工程为背景对河道生态化整治进行研究,对工程涉及的防洪、水质、景观等基本现状进行评价,提出了生态治理的指导思想,并具体介绍了防洪、水质、景观等综合治理措施,通过对大康河的综合整治,使得工程既能满足防洪要求又能实现良好的生态景观效果。     

黄藏寺水库运行方案多方法综合评价浅议

多方法评价较单一方法更科学、可靠,可以丰富水资源评价的理论,利用熵值法、模糊物元法、非负矩阵对黄藏寺水库运行方案进行综合评价,三种方法结果的一致性为0.57,评价结果基本一致,利用序号总和理论,得到黄藏寺水库运行最优方案是方案12。多方法评价可以克服单一方法的局限性,较单一方法更可靠。     

Development of an index based on fish,macroinvertebrates, phytoplankton,and physicochemical properties to assess urban aquatic ecosystems in Jinan,China

Because of the rapid growth in urbanization over recent decades, urban aquatic ecosystems have been subjected to unprecedented threats and challenges. In this study, we visited 48 sites, of which 14 were reservoir sites, in water bodies in Jinan, China, on six occasions in May, August, and October of 2014 and 2015. We sampled fish, macroinvertebrates, and phytoplankton assemblages and physicochemical factors at each site. We used the richness and diversity of fish, macroinvertebrates, and phytoplankton to evaluate the condition of the aquatic ecosystems of the river sites. We also evaluated the water quality of the reservoir sites using the physicochemical factors of the State Environmental Protection Administration of China. We classified the results into five levels—excellent, good, moderate, poor, and bad—with the comprehensive evaluation index (CEI). More than 40% of the sampling sites were in either poor or bad condition. Nearly half of the excellent or good sites were in the south of Jinan. The CEI was significantly different between the reference and impaired sites; it was significantly and positively correlated with the qualitative habitat evaluation index and was significantly and negatively correlated with conductivity, total alkalinity, and ammonia nitrogen.     

强度准则和失稳判据对有限元强度折减法结果的影响

本文主要研究有限元强度折减法的强度准则和失稳判据问题,从强度折减法基本原理出发,将边坡强度参数进行折减,利用理论分析与数值计算相结合的方法,通过对比分析研究了强度准则与失稳判据的影响。研究表明:在π平面上强度准则围成的圆的半径越大,所得的安全系数则越大。与传统的极限平衡方法的安全系数结果相对比,等面积圆强度准则结果与之相近。3种边坡失稳判据中塑性区贯通判据判断的安全系数偏保守,与Bishop法计算结果较为一致,收敛标准的安全系数偏大。     

家族企业是社会主义市场经济的重要组成部分

该文揭示了家族企业产生和发展的历史动因,进一步明确了我国包括家族企业在内的私营经济的地位,认为中国家族企业在社会主义市场经济中必将焕发出其应有的生命力。