Past Returns and Investment Trust Discounts

Abstract:   The relationship between past net asset value returns and the current discount on investment trusts is investigated. The relationship is weaker for the component that is common to all trusts in the same sector, and is significantly stronger for more liquid trusts. The time lag before returns have their full impact on discounts is consistent with the requirements of distinguishing 'skill' from noise. Although discounts vary widely even within the same sector, the range of variation appears to be consistent with an arbitrage equilibrium, in which the profits of exploiting apparent pricing anomalies are just insufficient to invite arbitrage trades.     

浅析高校内证卡使用问题及其解决措施

证卡和票据曾经是高校内身份识别和消费的主要方式,现介绍高校内现有证卡和票据使用现状及存在的问题,分析其原因,提出基于校园一卡通系统的解决方案,总结了使用效果,并对下一步工作进行了展望。     

论历史逻辑

历史逻辑是以历史时间的历时性和共时性统一为基础的概念推论，研究关于叙述史中基本概念之间的意义关系和推论规则。过去、现在和未来是历史逻辑的基本范畴，“过去-现在-未来”三段式是历史逻辑的基本公式，它是概念逻辑推论三段式“正题-反题-合题”在历史逻辑中的具体形式。历史逻辑研究的目的，是根据特定历史时段的特殊性，建构以不同时段概念为逻辑变项的历史逻辑，预见未来的发展，规划现在的实践。     

从历年第一季度经济运行看广西2009年经济走势

为研究2009年广西宏观经济走势及发展对策,采用回归分析法和图解法运用影响广西宏观经济的五个主要指标对1997年以来第一季度对全年的贡献度进行了研究。结果表明:各指标一季度产出和全年产出具有同向性,线性拟合良好。在对2009年第一季度对全年影响进行预测后,文章认为,面对国际金融危机,当前经济企稳回升的广西需要:以6000亿为目标加快推进项目建设、以工业结构优化升级为导向的改投资、以供应链融资为核心的中小企业发展模式和以错位发展为前提的区域合作模式。     

原型范畴理论视角下的英语时态认知解读

原型范畴理论作为认知语言学概念的基础近年来逐渐得到了语言学家的重视。原型范畴理论可以用于英语教学并对英语时态具有一定的解释力,从而为英语时态教学开辟新视角。本文以一般现在时态、一般过去时态、一般将来时态为例,探索原型范畴理论在英语时态教学中的应用。希望能推动该理论在英语时态教学中的应用。     

Ready to Embrace Chinese Investors？

A good friend of China,who from ASEAN countries,once said that＂The biggest difference of China between her past and present is that China is rich now with large foreign exchange reserves in the bags＂Yes,the Chinese government is encouraging his enterprises to go abroad by various means.Facilitating Chinese enterprises to invest globally is in accordance with China＇s present Go Global Strategy exactly.And The 2nd Chinese Enterprises Outbound Investment Conference （CEOIC）, co-hosted by China Council for the Promotion of International Trade （CCPIT） and Ministry of Commerce of China is a good example to that.     

戴良的遗民诗人道路探因

戴良是元末明初以坚定的遗民著称的诗人。本文从戴良正统观的确立,与异族诗人交游的影响、四明遗民队伍志节的砥砺几方面,探求戴良选择遗民道路的原因。     

Assessing the Effects of Service Quality,Past Experience,and Destination Image on Behavioral Intentions in the Spring Training Camp of a Japanese Professional Baseball Team

This study aimed to examine the theoretical relationships between service quality, past experience, destination image, and behavioral intentions in the spring training camp of a professional baseball team in Japan. The results indicate that the service quality of spring training camps was divided into five factors: (1) place, (2) enjoyment, (3) information, (4) fan interaction, and (5) operating time. The findings suggest that service quality and past experience had positive effects on both destination image and behavioral intentions. Behavioral intentions were also highly influenced by destination image. Future research and managerial implications are also discussed.     

The antecedents of tourists’ gaming spend: does the brand prestige matter?

This study endeavors to empirically analyse the influential effect among brand prestige, service quality, casino visitor satisfaction and spend. Data from 304 tourists who had travelled to Macau and had participated in gambling activities were used and structural equation modelling and multi-group analysis were employed in hypotheses testing. The findings demonstrated that both brand prestige and perceived service quality are determinants of satisfaction and gaming spend, and that brand prestige also affects service quality positively. Furthermore, past experience moderates the service quality and visitors’ satisfaction relationship, also service quality and visitors’ gaming spend relationship.     

Does success diminish competitive responsiveness? Reconciling conflicting perspectives

Previous research provides conflicting evidence of the association between the past performance of a business and its competitive responsiveness, with researchers observing both positive and negative relationships. To clarify this issue, the authors test a model using survey data from the retailing industry. The model delineates direct and indirect mediated paths through ability to respond, motivation to respond, and awareness of competitors’ actions to show how past performance can have both positive and negative influence on competitive responsiveness. However, the overall impact of past performance of an organization on its competitive responsiveness is positive. The implications of these findings for research, practice, and theory are discussed. Satish Jayachandran (satish@moore.sc.edu) is an assistant professor of marketing in the Moore School of Business at the University of South Carolina. His research interests are focused on issues related to the market responsiveness of firms. His research has been published in theJournal of Marketing and theJournal of the Academy of Marketing Science. He was a recipient of the Harold H. Maynard Award for 2001 from theJournal of Marketing. He was nominated a young scholar by the Marketing Science Institute in 2003. Rajan Varadarajan (varadarajan@tamu.edu) is Distinguished Professor of Marketing and holder of the Ford Chair in marketing and e-commerce at Texas A & M University. His teaching and research interests are in the areas of strategy, international marketing, and e-commerce. His research on these topics has been published in theJournal of Marketing, theJournal of the Academy of Marketing Science, theAcademy of Management Journal, Strategic Management Journal, Sloan Management Review, California Management Review, Business Horizons, theJournal of Business Research, and other journals.