An investigation of transformation-based prediction interval for the Weibull median life

Statistical inference based on the Weibull distribution, a distribution widely used in reliability and survival analysis, is usually difficult as it often involves numerical computation and approximation. However, this distribution can be transformed to near-normality by a simple power transformation. Based on this transformation, a prediction interval (PI) for its median can be easily constructed through an inverse transformation. The procedure for selecting the best power transformation through minimizing Kullback-Leibler information is described. The property of this transformation-based PI is investigated. Simple correction factors are also proposed. It is shown that the transformation-based PI with corrections performs well, irrespective of the sample size and parameter values. Simulation results show that the new PI generally outperforms the existing PI. Numerical examples are given for illustration.     

Initial Public Offerings: CFO Perceptions

We examine four issues pertaining to initial public offerings (IPOs) using a survey of 438 chief financial officers (CFOs). First, why do firms go public? Second, is CFO sentiment stationary across bear and bull markets? Third, what concerns CFOs about going public? Fourth, do CFO perceptions correlate with returns? Results support funding for growth and liquidity as the primary reasons for IPOs. CFO sentiment is generally stationary in pre‐ and post‐bubble years. Managers are concerned with the direct costs of going public, such as underwriting fees, as well as indirect costs. We find a negative relation between a focus on immediate growth and long‐term abnormal returns.     

信息服务模式及网络利用

当今的用户获取信息的渠道越来越广,这使得信息服务面临着多方面的竞争。对于从事信息服务的工作者而言,如何让信息真正有效地服务于各行各业和广大用户,以及依据什么因素来选择恰当的服务模式与推动模式的更新都是非常重要的。文章初步探讨了信息服务模式的变化,以及网络在信息服务中的利用。     

The mean-variance investment problem in a constrained financial market

This paper extends the mean-variance analysis and the two-fund separation theorem to a market with some constraints, such as, the incompleteness, prohibition of short-selling, and partial information, with stochastic interest rate, and with stochastic volatility for risky assets. By maximizing a quadratic utility of terminal wealth, we show that the efficient frontier for the problem is a straight line in the mean-standard-deviation diagram. The quadratic utility function exhibits mean-variance efficiency. Our results apply to portfolios of claims in a single period, multiperiod, and continuous time.     

转型与经济信息生产方式的演化创新

一定制度下的经济信息生产方式是决定其资源配置效率的重要基础。从制度或资源配置方式的转型角度,分析了经济信息生产方式与一定制度下资源配置的效率关系;指出与传统自由市场经济相对应的现行的会计、统计理论方法及其制度属于经济信息个体性生产方式,不适应以混合经济为特征的现代市场经济对经济信息的需求;最后以现代市场经济的混合经济特征为基点,从市场经济活动的广泛联系性、经济信息的公共物品性和满足社会需求出发,提出了建立经济信息社会化生产方式与制度模式的构想。     

安徽区域科技基础条件平台建设面临的问题与对策探讨

区域科技基础条件平台建设是一项复杂的系统工程,建设工作分为基础性工作和特色性工作的提法有助于地方政府分析条件平台建设的重点和难点.科技条件平台的核心功能之一是以科技资源共建共享的方式向社会提供共性技术尤其是产业共性技术.地方政府解决科技资源供给和需求之间的矛盾的关键在于对共性技术范围进行界定以及确定如何供给共性技术.     

强化企事业单位内部审计的研究

随着企事业单位管理的需要,内部审计显得越来越重要。本文通过阐述我国企业内部审计中存在的问题,从内部审计认识、内部审计建设、内部审计人员三个方面进行分析,从中找出对策。     

试论我国证券投资基金稳定市场的功能

本文采用博弈分析方法 ,通过博弈模型 ,对虚假会计信息产生的条件、机制和影响因素等作了探讨。     

论高校图书馆的信息素质教育职能

信息时代的来临使信息素质成为人才综合能力的重要标志。面对信息浪潮的挑战 ,高校图书馆应充分认识到信息素质教育的重要性与自身优势 ,研究开展信息素质教育的方法 ,充分发挥信息素质教育的职能 ,义不容辞地承担起信息素质教育的重任     

公司财务控制机理:一个基于制度博弈的分析

财务控制的目标是对出资者和经营者之间形成的代理契约的冲突进行管理和协调.以出资者与经营者的制度博弈模型为分析基础,可以清楚表明财务控制机理特征:首先,财务控制本身具有的制度成本(控制成本)是制约控制成效的关键因素;其次,财务控制作为一种制度安排,应具备使经营者违背代理契约的外部成本内部化的功能;最后,财务控制本质是一种契约安排,是出资者和经营者之间多次动态博弈的结果,因此需要不断进行修正完善.