Mean-variance hedging for interest rate models¶with stochastic volatility

The mean-variance hedging approach for pricing and hedging claims in incomplete markets was originally introduced for risky assets. The aim of this paper is to apply this approach to interest rate models in the presence of stochastic volatility, seen as a consequence of incomplete information. We fix a finite number of bonds such that the volatility matrix is invertible and provide an explicit formula for the density of the variance-optimal measure which is independent of the chosen times of maturity. Finally, we compute the mean-variance hedging strategy for a caplet and compare it with the optimal stategy according to the local risk minimizing approach. Received: 14 July 2000 / Accepted: 10 April 2001     

Auditor conservatism and voluntary disclosure: Evidence from the Year 2000 systems issue

This study further examines the phenomenon of conservative auditor behaviour by considering the level of voluntary disclosure of Year 2000 remediation information in company annual reports. Previous studies have provided evidence of conservative auditor behaviour by examining the link between Big 6 auditor choice and accruals (Francis and Krishnan 1999; Becker et al ., 1998; Defond and Subramanyam 1998). Protecting their reputation capital increases Big 6 auditor incentives to act conservatively to avoid litigation risk. We propose and find that Big 6 auditor clients disclose more Year 2000 remediation information than non–Big 6 auditor clients.     

基于.NET的B/S架构下新闻发布系统的设计与实现

NET是当前web应用开发中流行的技术,讨论了一个基于ASP.NET、B/S开发模式和SQL Server 2000相结合的新闻发布管理系统,同时对系统的功能模块、体系结构以及实现的关键技术进行了详细的介绍。     

人口普查中的事后质量抽样调查

事后质量抽查是世界各国在人口普查中普遍采用的用来评估人口普查登记质量的调查方法,是评价数据质量的重要手段之一.从事后质量抽查的作用、抽样设计、调查方法、估计方法、抽查结果以及与以往相比有何改进等方面论述了2000年第五次全国人口普查中的事后质量抽样调查.     

Towards an alternative theory of the advertising communication process?

Several findings reported by researchers working in quite different areas suggest that individuals may be able to receive advertising in a way which is very different from the advertising communication process. Here, some of these findings are presented. They derive from studies of picture perception, of mere exposure, of brain lateralization, of emotion formation, of attention processes, and from new approaches to content analysis. Finally, the need for a revised view on how advertising works is emphasized.     

基于IP架构的cdma2000 1x系统TrFO特性的设计与实现

本文介绍了基于IP架构的分组语音核心网的TrFO特性,并结合自行开发的cdma20001x系统,讨论了TrFO特性在基于IP架构的cdma20001x移动通信中的具体实现方案,详细讨论了多种声码器的灵活配置策略,并对各种策略进行了模拟比较,模拟结果对实际工程实现具有重要意义。     

CGCS2000坐标系的推广与应用

由于测量技术的限制以往描述空间点的位置通常用平面坐标和高程坐标来表示,随着空间大地测量技术的不断发展,为了避免二维坐标描述的弊端,实现更科学的描述动态的地球,世界各个国家都在完善各自的大地坐标系和它相应的坐标,我国在2008年7月1日启动了国家2000坐标系。地心坐标系统及其框架正在逐渐取代以往的传统的非地心大地坐标系统及其框架。     

电信业务营销管理系统的设计与实现

近年来,企业管理相关信息日益增多,各方面信息相互关系错综复杂,这给企业决策者及管理者带来了挑战,同时也提供了机遇,而随着计算机技术的飞速发展。本文已经能够利用计算机来对复杂的信息进行分类、汇总、查询、预测,以此来支持企业决策,各种企业管理相关通用软件层出不穷,然而事实证明,通用软件解决不了所有企业的要求,因此仍然需要针对不同企业的需求进行定制开发。企业管理软件支持商务决策,它必须符合企业的业务逻辑要求,同时对安全性、时效性等要求也相当苛刻,因此,本文要深入了解企业内部业务逻辑,同时也要精通开发相关的各项技术。