Generalizations of Ho–Lee’s binomial interest rate model I: from one- to multi-factor

In this paper a multi-factor generalization of Ho–Lee model is proposed. In sharp contrast to the classical Ho–Lee, this generalization allows for those movements other than parallel shifts, while it still is described by a recombining tree, and is a process with stationary independent increments to be compatible with principal component analysis. Based on the model, generalizations of duration-based hedging are proposed. A continuous-time limit of the model is also discussed. This research was supported by Open Research Center Project for Private Universities: matching fund subsidy from MEXT, 2004–2008 and also by Grants-in-Aids for Scientific Research (No. 18540146) from the Japan Society for Promotion of Sciences.     

对改革供电企业变电检修现行管理模式的探讨

提出了重组专业化的变电检修总公司的战略思路,对电网企业与总公司之间发展新型关系进行了探讨,指出以战略思维构筑战略联盟,保持合作联盟,实现共赢与发展.分析虽是对检修体制改革,同时也是对安全生产管理体制的变革,有利于供电企业的安全生产管理.     

Demand for broad money and expenditure components in Japan: an empirical study

The main objective of the present study is to examine empirically the long-run relation of broad money demand and its determinants in Japan. In contrast with previous study, the present study considers various components of final expenditure demand as determinants that are final consumption goods, expenditure on investment goods and exports. Using quarterly data over the period 1973Q1–2000Q2, the results of the bounds test [J. Appl. Econ. 16 (2001) 289] indicate a stable long-run relationship between demand of real M2 and its determinants. The empirical results also highlight that different domestic demand components yields different effects on Japanese broad money demand behavior. The estimated unrestricted error-correction model appears to track the data well and the results have important policy implications.     

农村劳动力转移模型:基于中国制度背景的构造

本文在对经典的农村劳动力流动模型进行理论梳理的基础上,引入中国的制度变量,试图构建适合中国制度背景的农村劳动力转移模型,同时,运用经验事实对其作进一步的实证检验,并分析了模型的政策含义。     

城镇化水平与农民收入的相关性研究

城镇化水平与农民人均收入存在着密切关系，即城镇化水平越高，农民人均收入越高；城镇化水平越低，农民人均收入越低。因此，要增加农民人均收入，就必须提高城镇化水平，特别是提高中西部省份的城镇化水平。文章主要运用统计学中的回归分析方法来阐述这一观点。     

Research on Customer Satisfaction Strategy in China＇s Real Estate Industry

This paper analyzes real estate market condition, studies key influencing factors to customer satisfaction, and presents corresponding customer satisfaction model and effective strategy framework, which are of significance to achieve customer loyalty and get competitive edge for real estate enterprises.     

Intention of Internet-based Customer Involvement in Product Development： A Conceptual Investigation

The paper develops an extension of Technology Acceptance Model （TAM） and puts forward the TAM-VCE conceptual model to explain the intention of intemet-based customer involvement in new product development （NPD）. The findings will help enterprises design Virtual Customer Environments accepted by customer.     

电力商标分析及评估模型的构建

本文分析了电力商标的实质内涵，总结了电力商标的基本特征，在此基础上对商标的评估模型进行了创新构建，新建模型有两大特点：一是将商标收益分割为两部分计量；二是用强度系数进行了调整强化，为电力商标的评估提供一种新思路。     

R&D项目投资评估的实物期权方法初探

本文分析了传统的NPV法在R&D项目投资评估中的缺陷,指出R&D项目投资本质上所具有的期权特性。在此基础上引入了实物期权方法,包括Black-Scholes期权定价方法和Geske期权定价模型。     

工程建设PM、CM和PMC三种模式的比较

PM、CM和PMC是三种不同的工程建设模式,产生于不同的历史阶段和市场条件,有着各自的特点和适用范围。文章介绍了三种模式的基本含义及特征,在组织、合同、工作范围以及风险和责任等方面进行了比较研究,并对三种模式的优势和适用条件进行了分析,最后强调在应用时,应根据项目的不同情况和条件来加以选择。