金融资产管理公司的不良资产定价问题研究

不良资产定价是不良资产处置中的核心问题,不同的不良资产具备不同特点,需要引用不同的定价方式。虽然我国不良资产处置时间还不长,但现有定价方法缺少逐项定价能力、缺乏效率性的弱点已经在实践中日益暴露出来。通过改进债权风险定价法、运用数据模拟方法、引入期权定价等,可以完善不良资产价值发现机制,为不良资产创新处置提供支持。     

基于抵补风险的外汇储备适度规模研究

多大规模的外汇储备才是我国适度的外汇储备的问题至今并未得到全面解答。本文从宏观金融工程视角出发,运用或有权益分析方法和VAR,方法。证实既能够满足支付性需求、又能够满足抵补风险的需求的储备规模就是适度规模。本文度量了我国2002-2006年适度外汇储备规模,给国家管理和调整外汇储备存量提供了客观依据。     

当公平成为更大的效率——新破产法中劳动债权特别优先合理性之探讨

新破产法草案曾经试图赋予企业职工劳动债权先于担保债权受偿的特别优先权,一场要人本还是要市场经济秩序的讨论因此展开。一般的看法认为劳动债权特别优先只是单纯涉及分配正义,而与提高分配效率无关,因此只是经济学上要公平还是要效率这个古老争论的延续。本文以法理经济学为进路,介绍了近20年西方担保法和破产法领域的一些主要成果和共识,提出:破产清偿顺序因其在促进公司治理方面的潜力而具有提高分配效率的特殊意义。同时充分阐释了劳动债权特别优先在中国背景下的历史合理性及实践意义:即是对市场经济规律的一种历史性回归。新法用老人新人的办法折衷了这场争论,但更进一步"的理论阐示在理论和现实层面都仍然非常必要。     

Covariance of discounted compound renewal sums with a stochastic interest rate

Formulas have been obtained for the moments of the discounted aggregate claims process, for a constant instantaneous interest rate, and for a claims number process that is an ordinary or a delayed renewal process. In this paper, we present explicit formulas on the first two moments and the joint moment of this risk process, for a non-trivial extension to a stochastic instantaneous interest rate. Examples are given for Erlang claims number processes, and for the Ho–Lee–Merton and the Vasicek interest rate models.     

The direct and indirect costs of long bone fractures in a working age US population

Abstract

Objective:

Information regarding the burden of fractures is limited, especially among working age patients. The objective of this study was to evaluate the direct and indirect costs associated with long bone fractures in a working age population using real-world claims data.     

Antecedents and Consequences of Skepticism toward Health Claims: An Empirical Investigation of Singaporean Consumers

The purpose of this study is to test the persuasive effects of visual metaphors in advertising. Advertisements containing visual metaphors deliver persuasive arguments in visual modality and metaphorical style of rhetoric, both of which may increase the persuasiveness of messages. The study has three message conditions that are advertisements containing (a) non‐metaphorical (literal) visual image with verbal argument; (b) metaphorical visual image with verbal argument; and (c) metaphorical image without accompanying verbal argument. Cognitive elaboration, source credibility, ad attitude, brand attitude, product belief, and purchase intention are considered as outcomes. The study results suggest that visual metaphors may be more persuasive due to both visual argumentation and metaphorical rhetoric. The theoretical explanations and managerial implications of the findings of this study are further discussed.     

Building brand knowledge structures: Elaboration and interference effects on the processing of sequentially advertised brand benefit claims

Two experiments are reported that examine the effects of an ad campaign designed to link two different benefit claims to a brand. The findings indicated that recall for a subsequently advertised claim depended on the strength of existing brand–benefit links in memory. If prior advertising strongly established a benefit claim in memory, then proactive interference effects inhibited the recall of subsequently advertised benefit claims unrelated in meaning. Additional analyses suggested that these interference effects appeared to be a result of difficulties with encoding the newly advertised claims. If the original benefit claim was not as strongly established in memory, however, then unaided recall of the subsequently advertised benefit claims was actually higher than if there had been no prior advertising at all. In fact, less accessible and memorable claims, whether they preceded or followed more accessible and memorable claims, enhanced recall of the stronger claims. Additional analyses suggest that these elaboration effects occurred because prior or subsequent advertising improved brand awareness and thus later brand claim recall as a result.     

建设单位如何有效防止施工索赔

在现代社会中,建设单位遭到施工索赔的情况屡见不鲜。就此,笔者将在本文中分析造成施工索赔的主、客观原因,并提出5个有效防治施工索赔的对策,希望在各个建设单位面对施工赔偿时能够作为参考。