走出责任保险伦理困境的观念路径

责任保险市场面临着严峻的伦理困境,扩张冲动与伦理焦虑之间存在紧张关系。为此,应基于观念与技术的二元立场系统审视责任保险,关注其正当性基础转换的现实,坚持保险伦理一般伦理相区别、侵权责任确定与保险赔偿责任确定相界分的原则,注意保险技术因应保险道德危机的相机性,以矫正伦理焦虑背后观念性偏差、消除扩张责任保险的观念性障碍。     

TD-LTE终端协议栈TTI Bundling方案的实现

TD-LTE系统中小区边缘终端的信道质量较差,为了达到较好的上行覆盖LTE提出了TTI Bund ling技术。通过研究3GPP TD-LTE协议中物理层协议和MAC协议,归纳 出TTI Bunding模式在不同的上下行配比帧结构上HARQ进程相关连的授权、发送和基站反馈 间的时序关系。TTI Bundling实现是基于TD-LTE不同配比下的帧结构时序关系。最后以TD -LTE协议栈为基础,使用规范和描述语言（SDL）/数表结合仿真法（TTCN）实现该功能。     

我国存款保险制度的保护程度研究

存款保险保护程度作为存款保险制度的重要设计方面,其能否有效设定直接影响到存款保险制度作用的发挥。目前学术界主要提出了四种存款保险赔付的方式,基于存款规模设定赔偿额度,基于存款期限设定赔偿范围,共同保险以及以市场为导向的存款保险。基于我国的情况,认为我国应当采用存款限额与共同保险相结合的设计方式。通过最优保护比例模型分析,我国应设定较高的存款保险保护比例。     

Towards a Routine External Evaluation Protocol for Small Area Estimation

Statistical criteria are needed by which to evaluate the potential success or failure of applications of small area estimation. A necessary step to achieve this is a protocol—a series of steps—by which to assess whether an instance of small area estimation has given satisfactory results or not. Most customary attempts at evaluation of small area techniques have deficiencies. Often, evaluation is not attempted. Every small area study requires an external evaluation. With proper planning, this can be routinely achieved, although at some cost, amounting to some sacrifice of efficiency of global estimates. We propose a Routine External Evaluation Protocol to allow us to judge whether, in a given survey, small area estimation has led to accurate results and sound inference.     

The Impact of Corporate Environmental Violation on Shareholders' Wealth: a Perspective Taken from Media Coverage

This study provides empirical evidence of the way in which media coverage of corporate environmental violation events affects shareholders' wealth due to stock market reactions. Data relating to the media coverage of the environmental violations of 173 publically traded companies in China, gathered using web crawler technology, were analyzed through multi‐dimensional variables with the purpose of examining the impact of media coverage on stock market reactions in terms of cumulative abnormal return (CAR) under different event windows based on the methodology of event study. The variables include the intensity of media coverage, media information sources, disclosure mode, media newsworthiness, violation entity, whether the company is punished by the government, whether the company makes a clarification and whether the company is ISO 14001 certified. The results obtained reveal that media coverage affects the market values of the event companies to some extent, and that those companies that attract high levels of media attention generally see greater losses in their shareholders' wealth. Copyright © 2014 John Wiley & Sons, Ltd and ERP Environment.     

Approximate confidence and tolerance limits for the discrete Pareto distribution for characterizing extremes in count data

Statistical tolerance intervals for discrete distributions are widely employed for assessing the magnitude of discrete characteristics of interest in applications like quality control, environmental monitoring, and the validation of medical devices. For such data problems, characterizing extreme counts or outliers is also of considerable interest. These applications typically use traditional discrete distributions, like the Poisson, binomial, and negative binomial. The discrete Pareto distribution is an alternative yet flexible model for count data that are heavily right‐skewed. Our contribution is the development of statistical tolerance limits for the discrete Pareto distribution as a strategy for characterizing the extremeness of observed counts in the tail. We discuss the coverage probabilities of our procedure in the broader context of known coverage issues for statistical intervals for discrete distributions. We address this issue by applying a bootstrap calibration to the confidence level of the asymptotic confidence interval for the discrete Pareto distribution's parameter. We illustrate our procedure on a dataset involving cyst formation in mice kidneys.     

The relationship between risk-neutral and actual default probabilities: the credit risk premium

The study investigates empirically the relationship between the risk-neutral measure Q and the real-world measure P. We study the ratio between the risk-neutral and actual default intensities, which we call the coverage ratio or the relative credit risk premium. Actual default intensities are derived from rating agencies annual transition matrices, while risk-neutral default intensities are bootstrapped from CDS quotes of European corporates. We quantify the average risk premium and its changes over time. Compared to related literature, special attention is given to the effects of the recent financial and European sovereign crises. We find that average credit risk premia rose substantially and that post-crisis levels are still higher than those observed before the financial crisis. This observation is especially true for high-quality debt and if it persists, it will have an impact on corporates funding costs. The quantification and revision of risk premia contributes to the discussion of the credit spread puzzle and could give extra insights in valuation models that start from real-world estimates. Our work is furthermore important in the context of state aid assessment. The real economic value (REV) methodology, applied by the European Commission to evaluate impaired portfolios, is based on a long-term average risk premium.     

基于同轴电缆的移动信号室内深度覆盖系统设计与实现

针对移动信号室内深度覆盖需求和现有覆盖方案存在的问题,提出了一种以有线电视同轴电缆为入户通道的射频系统。分析了系统原理和几个关键问题,计算了系统各项设计参数,阐述了合路器、跨路器和智能终端三个主要部分的结构及阻抗匹配滤波、同步、放大等关键模块的实现方法。实地测试结果表明,系统各项指标符合设计和应用要求,实现了160 m2高层住宅的信号覆盖,提高了小区测量报告（MR）覆盖率,同时对移动室分系统性能也无影响。所提方案与现有方案相比具有低成本、施工快速、协调简单等优势,是一种新颖实用的室内深度覆盖实现方式。     

媒体报道与公司IPO融资效率研究--来自中国证券市场的经验证据

以2009年至2012年在深圳中小板上市的193家公司为研究对象,从媒体关注和媒体监督两个维度考察了媒体报道对公司IPO融资效率的影响。研究发现,媒体关注与公司IPO融资效率具有显著的负相关关系,媒体关注越多,公司IPO融资效率越低;媒体监督则与IPO融资效率具有显著的正相关关系,媒体监督可以有效提高公司IPO融资效率。实证结果表明,在中国投机氛围浓厚的典型弱有效市场背景下,媒体通过负面报道发挥的监督作用有助于公司IPO融资效率的提高。