Enterprise systems in financial sector – an application in precious metal trading forecasting

The use of enterprise systems has become increasingly popular in the financial service industry. This paper discusses the applications of enterprise systems in the financial sectors and presents an application in gold price forecasting. We carefully examine the impacts of a few most widely assumed factors that have significant impact on the long-term gold price using statistical regression techniques. The analysis on our proposed linear regression mode indicates that the United States ultra scale of M2 money supply has been the most important catalyst for the rising price of gold, and the CRB index upward trend has also been the weighty factor for pushing up the gold price. In addition, the gold price has a low negative correlation with the Dow Jones Industrial Average, and low positive correlations with the US dollar index and the gold ETFs holdings.     

Asset price,risk transfer and economic activities: Firm-level evidence from China

The paper investigates the extent of the impact from changes in asset price and risk on corporate investment behaviors as well as the real economy. The results support the unidirectional causality effects from asset price fluctuations on the macro-level. By applying quarterly data of Chinese listed companies, we further find the existence of balance sheet effect on the firm-level, which suggests that the changes in asset prices and risk affect the net asset value, and consequently influence corporate investment decisions. More importantly, the balance sheet effect appears to be much more significant after the implementation of new fair value accounting standards in 2007. The impact on the real economy from asset price risk is found to be more prominent as well.     

对铁路工程价差系数的探讨

铁路工程目前的价差调整方式主要是采用相对于某种编制办法的基期价每年(或季度)由铁道部发布材料价差系数进行价差调整,本文阐述了铁路工程价差系数的发展过程及其特点,定量地分析了太中银项目"某项目部"铁路价差系数对其工程造价的影响,对铁路工程项目的材料价差调整具有一定的指导意义。     

关于施工招标工程造价最低限价的构想

长期以来,施工企业低价中标、高价结算的现象屡屡上演,屡禁不绝。为保护施工企业与业主双方的合法利益,文章提出了施工招标工程造价最低限价的构想,阐述了施工招标工程造价最低限价的法律依据、制定与实施的配套措施,为净化市场竞争环境提供参考。     

公路施工企业复合标底投标报价博弈模型的研究

通过对公路工程复合标底投标报价的分析,研究了复合标底的评分办法的博弈规则,建立了基于博弈论的投标报价模型,分析了模型的假设条件及适用范围,并对模型进行了全面评述。     

我国虚假广告治理模式的博弈分析

目前虚假广告充斥市场,从医疗、药品、保健食品到房地产、出国留学服务等,虚假广告遍及生活的各个角落。本文主要利用博弈论的观点对我国虚假广告的治理模式进行分析,以期能对完善虚假广告的治理模式有所启示。     

基于协议代理模式下IT外包项目博弈研究

互联网经济的出现致使全球信息化水平向更高级的智能化延伸。IT外包项目对现代企业的作用毋需置疑。本文通过建立了IT外包公司与地方系统集成商间单委托—代理博弈模型,分析了双方间的IT外包项目分包费率和努力程度取值范围,并讨论了IT外包公司和地方系统集成商的行为选择。对IT外包项目的博弈分析结果对于信息化建设企业未来在外包决策时进行风险控制具有一定的借鉴意义。     

电子商务环境下零售商分销渠道的选择

针对电子商务环境下的产品分销渠道,研究了由一个制造商和一个零售商组成的供应链中零售商分销渠道的选择问题。运用主从博弈和Hotelling模型,分别建立了单一线下渠道模型和在同价策略下的双渠道模型,通过对模型的分析,给出了零售商选择不同分销渠道的条件。研究表明:制造商会积极促使零售商选择线上线下双渠道;构建线上渠道的运营成本会影响零售商的渠道选择。研究结果对零售商的渠道选择有一定的指导意义。     

刍议工程招标中拦标价的设立

针对目前工程量清单招标项目中设立拦标价的做法是否合法合理,以及如何准确计算拦标价仍存在一定的争议。论述了拦标价设立的目的、作用、法规依据和造价依据以及拦标价在应用中存在的一些问题,提出了一种基于概率论的知识来确定拦标价上浮比例的方法,并指出拦标价在招标和评标应用中需要注意的问题。     

The institution efficiency of stock price limits： An experimental analysis on the two stocks market with continuous bid

Price limits in product market have been discarded in classic microeconomics. However, price limits affect the trade behavior of the same agent, since agents in the stock market change their trade status frequently. Due to the controversy on the institution effectiveness of the price limits in stock market, this paper design an experimental market with two stocks with continuous bid, in which we investigate the impact of the price limits on the stock market. The results show that the price limits moderate the price volatility within and between the trades periods, thus can stabilize stock price. In addition, price limits, when measured by traditional approach, restrain the fluidity of the market, reduce the volatility of transaction shares and maintain durative of fluidity. While volatility-based fluidity measurements show that the fluidity is enhanced significantly in stock market with price limits.