第三方物流经营人民事法律责任概述

对第三方物流经营人的含义、法律地位与责任形式进行了界定,讨论了《合同法》中关于第三方物流经营人对委托方法律责任的认定及其异同,最后对第三方物流经营人对实际物流经营人的追偿问题进行了讨论。     

Dynamic mode decomposition for financial trading strategies

We demonstrate the application of an algorithmic trading strategy based upon the recently developed dynamic mode decomposition on portfolios of financial data. The method is capable of characterizing complex dynamical systems, in this case financial market dynamics, in an equation-free manner by decomposing the state of the system into low-rank terms whose temporal coefficients in time are known. By extracting key temporal coherent structures (portfolios) in its sampling window, it provides a regression to a best fit linear dynamical system, allowing for a predictive assessment of the market dynamics and informing an investment strategy. The data-driven analytics capitalizes on stock market patterns, either real or perceived, to inform buy/sell/hold investment decisions. Critical to the method is an associated learning algorithm that optimizes the sampling and prediction windows of the algorithm by discovering trading hot-spots. The underlying mathematical structure of the algorithms is rooted in methods from nonlinear dynamical systems and shows that the decomposition is an effective mathematical tool for data-driven discovery of market patterns.     

NONREPLICATION OF OPTIONS

In this paper, we study the replication of options in security markets X with a finite number of states. Specifically, we prove that in security markets without binary vectors, for any portfolio, at most m ? 3 options can be replicated where m is the number of states. This is an essential improvement of the result of Baptista where it is proved that the set of replicated options is of measure zero. Additionally, we extend the results of Aliprantis and Tourky on the nonreplication of options by generalizing their condition that markets are strongly resolving. Our results are based on the theory of lattice‐subspaces and positive bases.     

The mediating role of integration of safety by activity versus operator between organizational culture and safety climate

ABSTRACT

In this study, we analyse the impact of the organizational culture and introduce a new variable, the integration of safety, which relates to the modalities for the implementation and adoption of safety in the work process, either through the activity or by the operator. One hundred and eighty employees replied to a questionnaire measuring the organizational climate, the safety climate and the integration of safety. We expected that implementation centred on the activity or on the operator would mediate the relationship between the organizational culture and the safety climate. The results support our assumptions. A regression analysis highlights the positive impact on the safety climate of organizational values of the ‘rule’ and ‘support’ type, as well as of integration by the operator and activity. Moreover, integration mediates the relation between these variables. The results suggest to take into account organizational culture and to introduce different implementation modalities to improve the safety climate.     

COMONOTONIC MEASURES OF MULTIVARIATE RISKS

We propose a multivariate extension of a well‐known characterization by S. Kusuoka of regular and coherent risk measures as maximal correlation functionals. This involves an extension of the notion of comonotonicity to random vectors through generalized quantile functions. Moreover, we propose to replace the current law invariance, subadditivity, and comonotonicity axioms by an equivalent property we call strong coherence and that we argue has more natural economic interpretation. Finally, we reformulate the computation of regular and coherent risk measures as an optimal transportation problem, for which we provide an algorithm and implementation.     

Bond Market Structure in the Presence of Marked Point Processes

We investigate the term structure of zero coupon bonds when interest rates are driven by a general marked point process as well as by a Wiener process. Developing a theory that allows for measure–valued trading portfolios, we study existence and uniqueness of a martingale measure. We also study completeness and its relation to the uniqueness of a martingale measure. For the case of a finite jump spectrum we give a fairly general completeness result and for a Wiener–Poisson model we prove the existence of a time–independent set of basic bonds. We also give sufficient conditions for the existence of an affine term structure.     

论现代电信企业的价值管理战略

伴随着中国加入WTO,电信业开放的步伐不断加快,中国电信运营商如何沉稳、成功应对"狼来了"?本文分析了适用于电信运营企业的价值评估方法、电信运营企业价值驱动因素的分析和发现,提出了实施全面价值管理战略是电信运营企业有效管理价值驱动因素,实现企业价值最大化、在国际电信运营市场上获得竞争优势的关键所在.     

日韩移动通讯产业内合作模式的比较分析

本文通过对韩国SKT"导师制"模式与日本NTT DoCoMo"家长式"模式的比较研究得出,现有技术制式的个性化程度、企业市场地位、技术研发实力等要素决定了移动通讯产业内的合作模式;中国移动运营商和终端厂商之间的合作模式应为:前者通过研究市场细分和消费者行为,设计竞争策略、调动渠道商积极性、确定合作层面和深度;后者加强与运营商、SP和CP的合作、加强对渠道的引导、选择与运营商的合作基点等。     

INDUSTRY RESEARCH PERSPECTIVE

Abstract

Emotional intelligence, a type of social and personal intelligence, is important in managing interpersonal relationships and interactions, especially in the business sphere. Businesses that involve frequent customer contact and interaction, such as those in the field of tourism, can benefit from the application of multiple intelligences. This study examines how, and to what extent, emotional intelligence can benefit the travel and tourism industry. Seven tour operators were interviewed to assess their attitudes, opinions and observations about emotional intelligence and its application to the relationship between tourists and residents of a community. Results showed that all tour operators, to a certain degree, utilized emotional intelligence to offer more personalized travel solutions for tourists. It was found that understanding the cultural values and social etiquette particular to each travel destination was essential for healthy tourist-resident relations.