Local corporate misconduct and local initial public offerings

This paper investigates the cost of going public through initial public offerings (IPOs) for firms located in regions with significant fraud density. We find that companies in regions with a high proportion of nearby firms that have committed corporate misconduct have more pronounced underpricing, experience higher post-IPO stock return volatility, and are more likely to withdraw their offerings. Overall, our results show that local corporate misconduct is associated with the pricing of IPOs, and the breach of trust is related to costly IPOs for newcomers.     

On the first hitting time density for a reducible diffusion process

In this paper, we study the classical problem of the first hitting time density to a moving boundary for a diffusion process, which satisfies the Cherkasov condition, and hence, can be reduced to a standard Wiener process. We give two complementary (forward and backward) formulations of this problem and provide semi-analytical solutions for both. By using the method of heat potentials, we show how to reduce these problems to linear Volterra integral equations of the second kind. For small values of t, we solve these equations analytically by using Abel equation approximation; for larger t we solve them numerically. We illustrate our method with representative examples, including Ornstein–Uhlenbeck processes with both constant and time-dependent coefficients. We provide a comparison with other known methods for finding the hitting density of interest, and argue that our method has considerable advantages and provides additional valuable insights. We also show applications of the problem and our method in various areas of financial mathematics.     

Contribution to the study of grouped observation. II. Loss of information caused by grouping of normally distributed observations

Abstract

1. Introduction

(a) Maximum Likelihood.—In a previous paper (THIS JOURNAL, vol. XXXII, 1949, pp. 135–159) the author gave tables of the functions and where ?(x) denotes the normal law of distribution, φ(x) its integral and ?′(x) its first derivative. With the aid of these tables it is practicable to solve the maximum likelihood equations for coarsely grouped normal observations. The procedure was illustrated by examples.     

Public policy dilemma—gender equality mainstreaming in UK policy formulation

The UK government has committed itself to improving the representation of women in public service and has introduced a number of legislative measures, policies and development programmes to do this. In 2006, the government enacted a regulatory duty, placed on public sector organizations, to mainstream gender equality in policy and service delivery. This article explores the extent to which this duty could promote gender equality and makes some recommendations for improving the representation of women.     

关于平底球形密度瓶质量可靠性分析

应用产品质量可靠性分析方法对目前实验室常用的平底球形密度瓶存在故障及影响因素进行了分析.分析结果表明：平底球形密度瓶在使用过程中存在重复使用性差,质量可靠性低等现象.在此基础上,提出了改进建议.     

全要素生产率构成与中国地区经济差距演进的核密度分析

本文利用随机前沿生产函数模型测算了中国28个省区1985~2007年的全要素生产率,并将其分解为技术进步、技术效率及规模经济性,同时利用核密度估计刻画了中国地区差距的演进机制。研究结果表明,全要素生产率对中国地区差距的影响要大于要素投入,在全要素生产率的组成部分中,技术效率是导致地区经济差距扩大的最主要原因,其次是技术进步的影响,而规模经济性对地区差距的影响非常有限。最后本文给出了相关对策建议。     

自然光在室内空间的运用

自然光是设计过程中优先采用的光源。本文通过对室内设计中对自然光的合理利用,充分平衡室内的光环境,探讨自然光在室内空间的运用表现。     

航空联盟对国际枢纽机场间机票价格的影响——以我国主要非经停国际航线为例的实证研究

本文通过构建多元回归模型,实证分析了航空联盟对我国主要非经停国际航线客运价格的影响。结果发现,在控制其他一些影响因素之后,航空联盟的存在并不一定会引起航线票价的上升。本文最后依据实证结果,给出相关对策建议。     

高密度电法在龙岩适中矿区锰矿探测中的应用

文章简要介绍了高密度电阻率法的基本原理,并详细分析了一个锰矿探测实例,通过理论与实践的结合,指出高密度电阻率法是一种有效的金属矿探测手段。     

A constructability assessment method (CAM) for sustainable division of land parcels

Historically the land development process has lacked a decision support structure for evaluating undeveloped parcels of land for compatibility with land use policy and engineering constraints. This paper demonstrates an applied multi-criteria decision support structure for characterizing the spatial distribution and classification of a parcel’s potential to support residential lot construction. This support structure is based on parcel attributes quantified in a typical site feasibility report, to include: potential house yield, wetlands area, soil types, streams (surface drains), and steep slope areas. The analytical capabilities of geographic information system (GIS) are employed in the decision support structure named the constructability assessment method (CAM). CAM integrates a dynamic multi-criteria attribute assessment method, based on the Analytical Hierarchy Process (AHP), for a given set of administrative requirements, and engineering constraints and judgment.The results of a case study using CAM characterized the approximate location of ideal lots for homes construction in an R-1 zoning district located on a 1290 acre land parcel in Loudoun County, VA, while avoiding existing hydric soils, floodplains, steep slopes, and forested areas. The number of ideal lots for a given set of engineering and administrative constraints represented a 65% reduction from the maximum lots permitted by regulatory constraints alone. The methodology used in this case study provides a consistent and repeatable land parcel analysis technique for undeveloped land parcels, and can be adapted and/or extended to a number of similar publicly available geographic datasets and constraint. In estimating optimal development density, CAM meets the needs of zoning administrators as well as the developers, thus offering a demand-driven market-based solution for sustainable land development.