Is Gold a Hedge or a Safe Haven? An Analysis of Stocks,Bonds and Gold

Is gold a hedge, defined as a security that is uncorrelated with stocks or bonds on average, or is it a safe haven, defined as a security that is uncorrelated with stocks and bonds in a market crash? We study constant and time‐varying relations between U.S., U.K. and German stock and bond returns and gold returns to investigate gold as a hedge and a safe haven. We find that gold is a hedge against stocks on average and a safe haven in extreme stock market conditions. A portfolio analysis further shows that the safe haven property is short‐lived.     

浅析如何降低技能训练教学成本、提高教学质量

针对焊接、车工、数控专业技能训练,通过对课程优化、教法优化、工艺优化、技术优化、材料优化等多种手段,探索降低技能训练教学成本、提高教学质量的可行性措施。     

A preliminary comparative analysis of 3D body scanner,manually taken girth body measurements and size chart measurements

In an attempt to provide a technological solution to the influx of cheap imports in South Africa and bridging the technology divide between Africa and the rest of the world, the Council for Scientific and Industrial Research procured a three‐dimensional body scanner from the Textile and Clothing Technology Corporation, in the US. The pilot study was aimed at introducing the technology to the South African consumers, and to compare the scanned data with the manually taken measurements. A convenience sample of 56 females in South Africa was interviewed using a structured questionnaire. Interviews were used to capture views on acceptance of the technology, prior to being scanned. Scanning garments made from a stretchy fabric were designed and sewn in four sizes of small, medium, large and extra large. A covariance, one sample t‐test and paired t‐ tests were used for data analyses. Almost all respondents felt comfortable with the designed scanning garments and the scanning process. The scanner measurements were generally more numerical in value than the manual measurements for a body part as expected, although the disparity was on the higher side than expected. The discernible difference between means of scanned data and standard values in the currently used sizing charts highlighted the long overdue need to update the sizing charts using a national anthropometric database generated locally.     

Investment and Innovation State Support of Agriculture in Russia as a Condition of WTO

Russian agriculture is one of the industries operating in the unstable economic situation in a developing market taking into account risks of the world economy, economic, political, and climatic factors. The role of agriculture is to provide people＇s needs for food, significant effects on employment, the efficiency of domestic production, and way of life in rural areas by obligatory preserving food security in Russia. One of the major tasks for agriculture is the development of innovations and investments aimed at improving the competitiveness of the domestic agricultural sector. Russia＇s membership in the WTO since 2012 is getting a particular importance in the innovation and investment support of agriculture. The strategy of innovative development of the Russian Federation until 2020 ＂Innovative Russia--2020＂ assumes three possible options for innovative development： inertial （directed on imports）, catch-up development and a local technological competitiveness and a variant of achieving leadership in leading scientific and technical sectors, and fundamental research. A positive point is that the strategy provides an algorithm of state support of the innovation cycle. The innovation cycle is the process associated with the sequence of innovation transformations （scientific or business ideas） in products, technology, business process and launches it on the market for commercial use. A positively developing regional aspect is of great importance.     

“1＋1＋1”的教学改革模式——中职计算机专业分方向教学的探讨

从中职计算机专业的现状出发，为了培养出适应社会需求的实用型技术人才，实现中职学校的计算机教育事业又好又快发展，文章阐述了计算机专业分方向教学的设想，提出了“1＋1＋1”的教学改革模式。     

Master's Level Education in Business Marketing: Quo Vadis?

ABSTRACT

Given the paucity of knowledge on the state of business marketing education at the master's level, we conducted an exploratory survey of instructors at selected universities in North America and Europe. We supplemented results from this survey with discussions with our colleagues who teach business marketing at the master's level, and a review of articles on master's level programs.

Through our investigations, we discovered that there is a shortage of management cases that address contemporary issues in business marketing. We learned that nearly half of survey participants do not use a textbook and that the remaining participants use a wide variety of textbooks. We observed that many instructors still teach business marketing courses from a traditional functional perspective. Instead, we believe that business marketing courses must address a host of emerging issues such as value and its assessment, business process reengineering, global marketing, working relationships and business networks, and cross-functional coordination issues, among other things.

We believe that scholars can rejuvenate the discipline by tailoring business marketing courses to the new generation of accelerated master's programs, by creating a network for sharing information on new cases and teaching materials, and by writing more relevant and timely business marketing cases. Finally, we believe that the time is right for a faculty consortium on teaching business marketing.     

审计收费与审计质量关系研究

审计收费是影响审计质量的重要因素,本文通过理论和实证检验等方法进行分析得出审计收费和审计质量在一定程度上是正相关关系,结合我国审计收费现状,提出了一些可行性建议。     

关于大学生学生干部心理素质的思考——基于积极心理学视角

高校学生干部的心理素质状况是我们不容忽视的问题。本文在深入研讨心理素质内涵的基础上,提出高校学生干部心理素质主要存在自我认识容易发生偏差、心理承受能力较弱、人际交往矛盾重重、情绪起伏大不易排解等问题,并在此基础上,进一步提出高校学生干部心理素质的自我培养途径。     

“三提一降”管理模式在井下作业系统的实践

在井下作业系统实施的“三提一降”管理新模式，通过实施“提升素质、提高质量、提高效率、降低成本”4项措施，把握精细化、系统化、集约化、一体化管理内涵，取得了队伍结构初步优化、施工效率明显提升、工程质量得到保证、增收节支效果突出等良好管理效果，是促进井下作业系统解困扭亏、解决深层次矛盾、保障油田增储稳产、理顺内部管理流程的重要途径，不仅提升了系统的管理水平，同时，也有力保障了油田千万吨生产任务的完成。     

公路工程中桥头跳车的成因及其防治措施探析

文章分析了公路工程质量的通病之一桥头跳车的危害、成因,并对其防治措施进行了一番探讨。