自然保护区与当地居民的权益问题探讨——以云南大山包黑颈鹤自然保护区为例

文章从自然保护区的定义出发,讨论了自然保护区在保护的同时可能给当地居民带来的利益损害,论证了保护区居民的权利项,并提出保护区所代表的环境公益和居民的个人利益相冲突的解决原则。     

谈建设单位对工程变更的有效控制和管理

工程变更往往涉及费用和工期的变化,影响工程目标的控制,甚至引起争议或索赔。文章就建设单位如何控制和管理工程变更谈点个人体会。     

Quantifying mortality risk in small defined-benefit pension schemes

A risk of small defined-benefit pension schemes is that there are too few members to eliminate idiosyncratic mortality risk, that is, there are too few members to effectively pool mortality risk. This means that when there are few members in the scheme, there is an increased risk of the liability value deviating significantly from the expected liability value, as compared to a large scheme. We quantify this risk through examining the coefficient of variation of a scheme's liability value relative to its expected value. We examine how the coefficient of variation varies with the number of members and find that, even with a few hundred members in the scheme, idiosyncratic mortality risk may still be significant. Next we quantify the amount of the mortality risk concentrated in the executive section of the scheme, where the executives receive a benefit that is higher than the non-executive benefit. We use the Euler capital allocation principle to allocate the total standard deviation of the liability value between the executive and non-executive sections. The results suggest that the mortality risk of the scheme should be monitored and managed within the sections of a scheme and not only on a scheme-wide basis.     

An Examination of Component Returns and Volatility for Country-Specific Equity Funds in Emerging Markets＇ Evidence From Asian Financial Crisis

This research aims to examine the daily return generating processes for country-specific funds in five east-Asian countries for the period 1995-2000. The effects of component returns and their volatility on the dollar denominated returns and volatility of U.S., international investors and the effects of exchange rate regimes on risk and return are also evaluated. The GARCH-M model is adopted, without the restrictive assumptions of linearity, independence, and constant conditional variance. The time frame, 1995-2000 captures a 30 months period prior to these East Asian countries aborting exchange rate stabilization/intermediate exchange rate regimes in response to the currency crisis. The decomposition of returns to holders of country-specific equity funds into the component returns due to changes in the exchange rate and the returns valued in the fund＇s foreign currency during a period of crisis provides additional information. This research provides evidence of the importance of examining component returns. With regards to the effects on volatility, both the conditional variances associated with the exchange rate returns and the returns denominated in the foreign currencies show some importance, especially the conditional variances associated with the returns denominated in the foreign currencies. With regards to the effects of return component, the exchange rate returns have a greater effect on the fund returns than foreign currency dominated returns.     

Impact evaluation for tourism development using the fuzzy set model: A case study of Kyongju,Korea

The Community tourism industry is primarily influenced by facilities, traffic systems, capacity, and development of tourism commodities. To develop tourism industry on a local basis, it is unavoidable to make investments on a large scale. Factor analysis for impact evaluation prior to undertaking of development projects, which this study intends to make, is more reasonable when related to the fuzzy numeric analysis of words or sentences than to a quantitative analysis of measured information. In this study the Euclidean distance method and Zadeh's fuzzy extension principle were used as linguistic approximation to establish the validity of decision‐ making in each factor category of impact degree. Therefore, this study introduces a general concept of Fuzzy theory through literature review of linguistic expressions. This study examined availability of the Fuzzy model in analyzing investment priorities for tourist development and applied it to Kyongju area, which unveiled the priorities for Kyongju tourism future in order of traffic system improvement, early construction of horse‐ racing track now under planning, promotion of Kyongju as tourism special zone to visitors and positive tourism events. In terms of methodology, this study disclosed that Fuzzy Model approach is greatly useful to decision‐making processes in tourist development.     

试析清代工商业行会规约的原则——基于苏州地区碑刻史料

根据碑刻史料的记载，清代政府对于工商业的监管较为宽松，商人们积极地建立公所、会馆这类行会组织并制定行会规约来更好地维护自己的利益。行会规约包含行会管理、商事组织、市场管理、行会救济等多种制度。民主、限制竞争、诚实信用、社会责任以及利益均沾等原则在这些制度中均有明确的体现，并且对于保障商业社会的稳定与繁荣起到了重要作用。     

中国股票市场再融资监管规则变迁的制度经济分析

中国证监会一直试图通过再融资规则的改变来调控上市公司行为，实现市场的有序发展。配股、增发以及可转换债券等途径的创设及其准入门槛的“宽紧”调整成为中国再融资监管的核心。以额度分配为核心的证券发行制度决定了1999年之前的再融资监管规则的整体架构，而当核准制实施后，市场化规则的引入尽管强化了外部约束，但股权分置制度的存在一度使再融资监管陷入困境。当股权分置改革初步完成后，危机驱动的信贷扩张迫使监管当局重新设计再融资监管架构，在净资产收益率要求基础上引入了现金股利分配要求。中国现行再融资规则带有明显的过渡性，应在未来重新定位。     

The search for World Heritage brand awareness beyond the iconic heritage: a case study of the Historic Centre of Macao

The Historic Centre of Macao was declared a UNESCO World Heritage Site (WHS) in 2005. The question arises regarding the value of the designation ‘WHS’ and what it means to tourists who visit. The researchers used intercept surveys and participant observation to determine brand awareness among visitors. Regardless of how much the tourism industry and UNESCO promote the ‘brand’, if visitors are unaware of it and do not respond, the economic and cultural values may be negatively affected.

The results showed the average visitor had only a vague understanding of WHS and it was not a major motivator for their visit. However, the general theme of culture was of high interest, as was a visit to the must-see icon attraction of St Paul's Ruins (the highlight of the Historic Centre of Macao). That is, there appears to be a good level of cultural and heritage awareness but minimal WHS awareness.     

Optimal proportional reinsurance with a loss-dependent premium principle

ABSTRACT

Empirical studies suggest that many insurance companies recontract with their clients on premiums by extrapolating past losses: a client is offered a decrease in premium if the monetary amounts of his claims do not exceed some prespecified quantities, otherwise, an increase in premium. In this paper, we formulate the empirical studies and investigate optimal reinsurance problems of a risk-averse insurer by introducing a loss-dependent premium principle, which uses a weighted average of history losses and the expectation of future losses to replace the expectation in the expected premium principle. This premium principle satisfies the bonus-malus and smoothes the insurer's wealth. Explicit expressions for the optimal reinsurance strategies and value functions are derived. If the reinsurer applies the loss-dependent premium principle to continuously adjust his premium, we show that the insurer always needs less reinsurance when he also adopts this premium principle than when he adopts the expected premium principle.     

点支式(拉索式)玻璃幕墙施工工艺

点支式(拉索式)玻璃幕墙工艺精简、高效,省料、省时、省工,成品安全可靠、外观整洁、明丽、具有现代感。应用于高层建筑上,具有简洁明快和体现现代理念的艺术效果。