高校金融学课程设置刍议

目前,高校金融学专业的课程设置方面仍然存在着缺乏通识教育,课程设置与人才培养目标脱节,选修课开设情况不理想,实习课程效果差强人意等问题。合理的金融学课程设置是培养金融学应用型人才的基础性工程,高校应通过加强通识教育,合理安排理论课与实践课的比例,增设选修课门类等措施,改变现有金融学专业课程设置不合理的现象,构建完善的课程体系,建立适合时代发展需求的金融学人才培养模式。     

礼仪模特培训中五元智能理论应用与探索——以黑龙江大学国际商务社交礼仪课程为视角

礼仪模特代表着国家或一个城市的形象。“腹有诗书气自华”,礼仪模特能够有效地展现内在的个人修养、风度和个性魅力,体现着对社会的融入和认知程度、价值观、审美、教养、自重自尊等。它是艺术美学、伦理学的分支,同时也是表演学、戏剧理论、行为学、人类学、沟通心理学、演讲学、社会学等学科的交叉,是一门理论性与实践性较强的方法性学科。黑龙江大学在运用“学导式”教学法的基础上,提出的五元智能理论培养模式已经成为独具黑龙江大学学生特色的、适合哈尔滨礼仪模特课程特点、教学风格的、基于全球化语境下礼仪模特教学中的学导式教学模式,为实施“哈尔滨模特美丽时尚产业名城”奠定了坚实基础。     

ROBUST ASSET ALLOCATION WITH BENCHMARKED OBJECTIVES

In this paper, we introduce a new approach for finding robust portfolios when there is model uncertainty. It differs from the usual worst‐case approach in that a (dynamic) portfolio is evaluated not only by its performance when there is an adversarial opponent (“nature”), but also by its performance relative to a stochastic benchmark. The benchmark corresponds to the wealth of a fictitious benchmark investor who invests optimally given knowledge of the model chosen by nature, so in this regard, our objective has the flavor of min–max regret. This relative performance approach has several important properties: (i) optimal portfolios seek to perform well over the entire range of models and not just the worst case, and hence are less pessimistic than those obtained from the usual worst‐case approach; (ii) the dynamic problem reduces to a convex static optimization problem under reasonable choices of the benchmark portfolio for important classes of models including ambiguous jump‐diffusions; and (iii) this static problem is dual to a Bayesian version of a single period asset allocation problem where the prior on the unknown parameters (for the dual problem) correspond to the Lagrange multipliers in this duality relationship. This dual static problem can be interpreted as a less pessimistic alternative to the single period worst‐case Markowitz problem. More generally, this duality suggests that learning and robustness are closely related when benchmarked objectives are used.     

MCMC ESTIMATION OF LÉVY JUMP MODELS USING STOCK AND OPTION PRICES

We examine the performances of several popular Lévy jump models and some of the most sophisticated affine jump‐diffusion models in capturing the joint dynamics of stock and option prices. We develop efficient Markov chain Monte Carlo methods for estimating parameters and latent volatility/jump variables of the Lévy jump models using stock and option prices. We show that models with infinite‐activity Lévy jumps in returns significantly outperform affine jump‐diffusion models with compound Poisson jumps in returns and volatility in capturing both the physical and risk‐neutral dynamics of the S&P 500 index. We also find that the variance gamma model of Madan, Carr, and Chang with stochastic volatility has the best performance among all the models we consider.     

城市化、城市集中度与人力资本积累――基于省级面板数据的实证研究

鉴于人力资本对经济增长的作用日显重要,人们希望知道哪些因素显著影响到人力资本,其中城市化水平、城市集中度等通过经济集聚强度而明显影响人力资本积累。城市化通过刺激人力资本供给与需求,创造良好的人力资本投资环境而促进人力资本积累,城市集中度提高带来的规模优势与外部不经济双重效应使其对人力资本积累具有两面性。依据2000—2015年我国30个省(直辖市、自治区)的面板数据,考虑省份之间的异质性及空间相依性,分别建立非线性面板模型和空间杜宾模型开展实证分析。结果表明：城市化水平与人力资本积累高度正相关,城市化对人力资本积累产生显著的促进效应;城市集中度与人力资本之间存在倒U型关系,不同地区城市集中度对人力资本的影响效应存在明显差异;城市化、城市集中度对人力资本的影响效应具有较强的稳健性。结论对于推动城市与区域经济高质量发展具有启示意义。     

洞庭湖生态经济区社会-生态景观恢复力测度与影响机理

为提高区域恢复力状态、实现可持续发展,以洞庭湖生态经济区为研究对象,选用改进TOPSIS法,探究生态、社会、生产子系统及其综合恢复力的时空分布特征及其驱动机理。研究结果表明：2000—2010年,研究区恢复力状态基本呈现下降趋势,至2018年恢复力状态回归上升趋势;空间分布上,综合恢复力高值集中分布,低值分散分布;恢复力影响因子与恢复力状态之间为线性关系,应采取有效措施,促进区域可持续发展。     

Vertical Specialization and Trade Growth in Northeast Asia

As the global economy has become further integrated, the international production chain has become more sophisticated, with diversified stages of production located in different countries. Economic theorists have argued that the fragmentation of the global production chain is partly attributable to the high growth in international trade over the past several decades. In this study, we examine vertical specialization in China, Japan and Korea, and its contribution to these nations' trade. Using a multilevel model, it is illustrated that vertical specialization has encouraged increases in trade among all three countries. In particular, China's outcome is remarkable considering how recently it became a member of the WTO.     

我国个人所得税税制设计探讨

我国个人所得税税制的改革应以调节个人收入分配差距为主要目标,遵循能力赋税与征收便利的原则。个人所得税税制改革应向综合课税迈进,以家庭为纳税单位,设计统一多级超额累进税率,完善税前扣除体系,充分发挥其作为社会主义市场经济条件下再次分配环节中调节收入分配的杠杆作用。     

水利投入对安徽省经济增长的拉动作用

通过建立扩展的Solow模型,计算安徽省水利投入对经济增长的贡献。结果表明,安徽省水利投入对国民经济增长的拉动作用较大,对经济产出的贡献率在10%左右,说明水利投入在国民经济发展中起着非常重要的作用。     

我国农村产业融合发展的效率评价

[目的]为了进一步提升农村产业融合发展效率,提升农业质量效益和竞争力、增强农村发展活力、促进农民持续增收,[方法]文章根据我国农村产业融合发展的投入产出指标数据,利用DEA方法对我国31个省(自治区、直辖市)农村产业融合效率进行了科学的分析与测算,[结果]研究表明,我国农村产业融发展的总体效率偏低。从综合效率看,仅有天津等7个省(自治区、直辖市)的综合效率值高于0. 5;从纯技术效率看,仅有江苏等8个省(自治区、直辖市)的纯技术效率高于0. 5;从规模效率看,西藏、甘肃、青海3个省(自治区)的规模效率低于0. 5。提升农村产业融合发展效率仍有较大的空间。[结论]应从进一步加大对农村产业融合发展的资金投入力度、着力优化农村产业融合发展的资金投入结构、建立农村产业融合发展效率考评制度等方面提升农村产业融合发展效率,促进农村产业融合快速发展。