浅谈自动空气开关的选型

本文介绍了空气开关的作用、特点、原理、分类等,并根据用途的不同重点介绍了如何选择空气开关。     

上市公司再融资资金使用效果研究

随着我国上市公司再融资规模的快速扩大,再融资己经成为我国股票市场进行资源配置的重要方式,尤其是增发融资。然而,上市公司对再融资的偏好存在着很多误区,这些误区使得我国上市公司再融资资金使用效果不尽人意。此文以国内已有研究成果为前提,从净利润,主营利润和主营业务收入三个角度进行分析,与已有研究成果进行对比,从而揭示出我国上市公司再融资资金使用效果方面存在的问题。     

基于TRIZ理论的内燃叉车优化设计

供能系统是叉车的重要工艺参数和选择叉车的指标,也是叉车设计制造中重要的技术冲突。通过TRIZ理论的冲突解决原理,进行内燃叉车优化设计的创新,并与目前使用或研究的先进技术相佐证,说明TRIZ理论在内燃叉车优化设计应用中的有效性,同时为之后的创新提供参考依据。     

Indirect Convertibility,Equity‐Based Banking and Financial Stability

Banking reform proposals put forward in the wake of the recent financial crisis maintain that equity‐based banking would be stable and would prevent bank runs. This article argues that complementing this form of banking with an indirect convertibility monetary standard and thereby dispensing with base money would enhance financial stability further. Banks would not hold a distinctive asset (base money) that would be called upon by customers at short notice, thereby removing the possibility of bank runs. No discrepancy in value between the two sides of a bank's balance sheet would arise as its assets (securitised loans) would be marked to market. Unlike other recent contributions, the intermediation model outlined here is not ‘limited purpose’ in nature as banks would not be restricted in the form of lending activity they can pursue. Common sources of banking and financial instability – liquidity risk, solvency risk, moral hazard – would be absent.     

The moderating effects of three reference groups on Asian pleasure travelers’ destination value

This study explores how the destination brand equity paradigm of Asian pleasure travelers may vary according to their level of susceptibility to the three types of reference group influences (i.e. informational, utilitarian, and value-expressive) by adapting destination awareness, image, quality, and value as a theoretical background. The results indicate that the positive effects of destination awareness, image, and quality on travelers’ destination value are moderated by informational and utilitarian reference group influences, but not by value-expressive reference group influence. This study provides both theoretical and practical implications by testing the moderating effects of three types of reference group influences.     

MENA stock market volatility persistence: Evidence before and after the financial crisis of 2008

The global financial crisis began with a financial meltdown in the United States in early 2008 and then it had spread to the rest of the world. In this paper we test whether the MENA equity market volatility presents a different behavior before and after the financial crisis of 2008. Using long range dependence techniques we test for long memory in the returns, absolute and squared returns of the MENA equity markets. We subject the series to unit root tests that allow for structural breaks and use the Bai and Perron (1998, Econometrica, 66, 47; 2003a, J. Appl. Econometrics, 6, 72; 2003b, Econometrics J., 18, 1) to test for multiple breaks in the mean returns. The results indicate that the volatility measures represented by absolute and squared returns show evidence of long memory for the full and subsample periods, while the returns show a weak evidence of long memory. Considering the shift dates and corresponding to the 2008 financial crisis, the returns and volatility measures display less evidence of long memory in the after crisis period as opposed to the before crisis period. The change in the returns and volatility dynamics of these markets was due to financial and economic conditions that took place in the MENA region after the crisis.     

Cross-market information transfers of ADR firms: An investigation of emerging market economies

Level II and III ADRs permit issuers to be listed on the major U.S. exchanges with the stipulation that they comply with extensive SEC disclosure requirements. Foreign private issuers are compelled to file a set of audited financial statements prepared in accordance with U.S. GAAP, or alternatively, IFRS or Home Country Accounting Principles with attendant reconciliation to U.S. GAAP prior to 2008. Although the Form 20-F reconciliation is discontinued in 2008 for IFRS filers, non-U.S. issuers are required to satisfy other Form 20-F stipulations such as expanded Item 17 and Item 18 disclosures. We conjecture that non-U.S. firms choosing to be listed on the major U.S. exchanges will incur the added costs associated with the supplemental disclosure requirements in order to attract sufficient investor attention as to have the disclosures impounded in the home country equity share price in the manner described by Fishman et al. (1989). Because a prominent attribute of ADR firms is that they benefit from multiple-market trading, we investigate whether the Form 20-F disclosure cross-market information transfers are associated with emerging market economy status. We employ models of the cross-market ADR and equity security share returns and trading volume controlling for the emerging economy status and incremental firm-specific SEC Form 20-F accounting principles disclosures. Preliminary results indicate that (1) U.S. listed ADR firms from emerging economies experience greater cross-market information transfers associated with the SEC Form 20-F filing, and (2) that the increased cross-market information transfers associated with the SEC Form 20-F filing are proportional to the difference in quality of accounting principles employed for home country reporting purposes vis-à-vis the accounting principles employed for SEC Form 20-F reporting purposes. Results are consistent with a feedback process through which the new information disclosed by the SEC Form 20-F reporting requirements in the ADR market attenuates the price discovery process in the home country equity market when the difference in information environment quality is large.     

高速公路养护机械进行合理配置的原则与顺序

要进一步提升高速公路机械化养护效益,就必须加强养护设备的合理配置。养护机械设备优化配置的目标是质量、经济、时间综合效益最大化,即在满足养护作业质量要求的前提下,尽可能提高工作效率、降低生产成本。     

敏捷方法

本文介绍敏捷方法的目标、核心理念特点、基本原则和适用范围。     

The Relationship Between Saving and Credit from a Schumpeterian Perspective

After 1995, the United States experienced housing and mortgage booms, fuelled by increased lending from less regulated institutions, such as hedge funds. At the micro level, the housing boom may have left families with more wealth, but the mortgage boom may have increased their financial vulnerability. Using the Federal Reserve’s Survey of Consumer Finances, we consider both wealth creation and a select number of financial vulnerability measures of homeowners. The data indicate that the housing boom was not only associated with larger house values, but also moderated wealth gains and substantially greater financial vulnerability of homeowners. Both trends were more pronounced among middleincome and Hispanic families, who saw larger wealth gains, but also greater increases in financial vulnerability than their counterparts. Given the breadth of the spread in homeowners’ financial vulnerability alongside sharply higher house prices, our results support the link between more deregulated financial markets and rising financial instability.