创新思维创造中国奇迹——纪念中国共产党成立90周年

中国共产党的成立,改变了人类历史进程。尤其是改革开放后的33年,超越了发达国家发展需要上百年的时间,跻身于世界经济强国之列,令全球震惊不已。实践证明：中国共产党人的创新思维能力体现在每一个历史转折关头,因此创造出无数的中国奇迹,并引领着未来前进的方向。     

基于城市空间规划设计视角的颗粒物空气污染控制策略研究综述

颗粒物空气污染是世界各国在快速城镇化过程中共同面临的严峻挑战。借助CNKI和Web of science,通过文献查阅整理城市空间在颗粒物污染方面的研究,系统性地总结该研究领域的整体特征与调节颗粒物污染的城市空间规划设计策略。结果显示：1)该研究属于一个新兴而前沿的学术领域,近年来呈持续上升趋势,相关文献主要来自中国、美国、英国与德国;2)绿色空间通过城市尺度的风道网络、绿地系统规划,街区尺度的公园绿地、湖泊湿地、道路绿带、城市森林对颗粒物污染产生消减作用;3)灰色空间通过城市尺度的城市形态优化、土地利用布局、街区尺度的街谷空间改造降低颗粒物污染;4)遥感反演与数值模拟技术(WRF、CFD)为规划设计策略提供技术支撑。最后对已有研究成果进行总结,并提出研究展望。     

“合法性”视域下我国大学危机表现及其根源探析

本文从合法化的构成出发,对我国大学危机的表现以及危机产生的根源进行了深入的阐述和探析,进而为我国大学制度的完善和大学科学发展提出了建议。     

声波信号对测井的影响

双发双收声波测井仪发射晶体向四周发射声波,在井内和地层中激发出各种模式的波,沿不同的方向和途径传播,最后由接收晶体接收,形成全波列波形.声速测井记录的是发射同步脉冲到首渡的旅行时间,声幅、变密度记录的是声波信号的幅度变化.声波信号的各种变化对测井起着至关重要的作用.     

国家创新体系包容性视角下高校与外资研发机构合作模式演进研究

在华外资研发机构具有明显的技术和管理优势,对我国自主创新能力产生了积极影响;高校作为研发创新的重要载体与外资研发机构开展科研合作,可加速科研成果转化应用,进而提升我国科技创新能力。从国家创新体系包容性视角,分析了高校与外资研发机构科研合作模式演进历程及存在的问题,并提出了对策建议。     

基于理性预期的宏观计量模型研究

理性预期在现代宏观经济学中起着重要的作用。传统的宏观计量经济模型没有考虑到理性预期的影响。因此,受到理性预期学派的批评。文章明确引入理性预期,建立了基于中国数据的月度宏观计量模型。在此基础上,文章系统分析了宏观经济中各种变量之间的关系,以及政府政策对宏观经济的影响。     

Tailored versus Mass Produced: Portfolio Managers Concurrently Managing Separately Managed Accounts and Mutual Funds

Using a matched sample of separately managed accounts (SMAs) and mutual funds (MFs) with the same portfolio manager and investment style, we find that concurrently managed MFs consistently underperform their SMA counterparts and generate more negative return gaps. Fund characteristics and liquidity betas fail to fully explain the underperformance. An event‐study analysis finds that the weights placed into top (bottom)‐performing stocks increase for existing SMAs (MFs) and negative return gaps increase for the MFs after the onset of concurrent management. We find that higher compensation collected by SMA fund managers are associated with more unseen managerial actions which positively contribute to the SMA return gap. Our results suggest that when managers concurrently manage both SMAs and MFs, they favor SMA performance over their MF performance.     

Counterparty Risk and the Pricing of Defaultable Securities

Motivated by recent financial crises in East Asia and the United States where the downfall of a small number of firms had an economy-wide impact, this paper generalizes existing reduced-form models to include default intensities dependent on the default of a counterparty. In this model, firms have correlated defaults due not only to an exposure to common risk factors, but also to firm-specific risks that are termed "counterparty risks." Numerical examples illustrate the effect of counterparty risk on the pricing of defaultable bonds and credit derivatives such as default swaps.     

Financial crisis and persistence: evidence from sticky expectations consumption growth model

We estimate the degree of stickiness in aggregate consumption growth for the U.S. considering the effects of the Great Recession. The behavior of stickiness estimate in the crisis is somewhat as the U-shaped pattern. Our findings imply that during the crisis consumers’ attentiveness to aggregate information has slightly increased, thereby reducing the persistence of aggregate consumption growth. However, the reduction in persistence is transitory. Since 1980, the U.S. faced five recessions and in most of them the degree of stickiness declined, albeit temporarily.