Power ARCH modelling of commodity futures data on the London Metal Exchange

A recent addition to the ARCH family of econometric models was introduced by Ding and co-workers wherein the power term by which the data is transformed was estimated within the model rather than being imposed by the researcher. This paper considers the ability of the Power GARCH class of models to capture the stylized features of volatility in a range of commodity futures prices traded on the London Metals Exchange (LME). The results of this procedure suggest that asymmetric effects are not generally present in the LME futures data. Further, unlike stock market data which is well described by the model, futures data is not as well described by the APGARCH model. Nested within the APGARCH model are several other models from the ARCH family. This paper uses the standard log likelihood procedure to conduct pairwise comparisons of the relative merits of each and the results suggest that it is the Taylor GARCH model which performs best.     

抗菌 自清洁复合功能整理冬季保暖针织物及整理后保暖性研究

本文选用自制的抗菌、自清洁整理剂,采用"两浴法"对冬季保暖针织面料进行了抗菌、自清洁复合功能整理。通过改变整理剂浓度、焙烘温度、焙烘时间三项整理工艺参数,探讨该复合功能整理对针织物保暖性的影响;根据正交实验,确定抗菌、自清洁试剂的最优化整理工艺为:(1)抗菌整理:整理剂浓度5%(owf)、浴比1:10、水浴恒温60℃浸渍45min,在常温下晾干;(2)自清洁整理:整理剂浓度35g/L、预烘温度120℃(2min)、焙烘温度170℃、焙烘时间0.5min。经该工艺整理后的保暖针织物具有抗菌、自清洁复合功能,且保暖性损失较小,透湿性保持较好,透气性略有下降。     

“织物结构与设计”课程的教学改革探讨

从"织物结构与设计"课程的性质、作用、教学模式、教学方法、教学内容的针对性与适用性、课程考核内容与方法、教学效果等几个方面对课程的教学改革进行了探讨,以促进教学质量和人才培养质量的提高。     

A real options reasoning approach to hybrid vehicle investments

Long term increases of petrol prices and the threat of a global climate change have created in the automotive industry a new competitive environment based on the development of more sustainable technologies. Using the real option reasoning lens we provide a theoretical framework to better account for the technological and market uncertainties and irreversibilities that impact the investment and innovation decisions of automotive firms supporting the development of more sustainable vehicle technologies. We investigate the case of hybrid vehicles in a transitional perspective by insisting on their potential to influence the dynamic shaping of investment decisions of firms in the car industry. We consider the hybridization strategy as intra-project and inter-project compound growth options to manage the flexibilities and irreversibilities of investment decisions during the transition process. We provide four different-sometimes conflicting-strategic rationales structuring the investment efforts of firms in hybrid vehicles and illustrate them with numerous examples from the automotive industry.     

棉织物免烫防皱整理的现状与发展

从折皱产生机理、防皱原理及影响棉织物防皱性能的因素等方面阐述了棉织物的免烫防皱原理,介绍了低甲醛、无甲醛整理技术,纳米技术,辐射接枝共聚,液氨处理等技术在棉织物免烫防皱整理方面的应用,认为棉织物绿色整理技术有良好的发展趋势。     

莫代尔纤维大提花织物的生产实践

通过分析莫代尔纤维和织物的特点,在络筒、整经、浆纱、织造各工序选择适当的工艺参数,保证了莫代尔纤维大提花织物的顺利织造,为公司的技术提升和产品升级做出了积极贡献。     

用转基因植物生产生物可降解塑料的研究进展

PHB、蛛丝蛋白等都属于生物可降解塑料，有着广阔的应用前景。本文对近几年用转基冈植物生产生物可降解塑料的研究进展进行了综述。     

茧丝绸行业应对经济全球化的战略分析

中国经济已面临经济全球化的挑战。作为典型的传统产业一茧丝绸行业,在其战略调整中,必须从其自身的产业优势出发,认真分折技术落后、国际竞争力弱和世界丝绸市场产销格局变化等特点,利用WTO的有关规则和原则,进行战略分析。通过采取制定行业保护性措施,加强出口管理和组建新型的贸、工、农大集团公司等战略,立足于整个萤丝绸产业的价值链来提升产业的国际竞争力。     

Discerning trends in international metal prices in the presence of nonstationary volatility

In this paper, we develop an empirical framework that allows us to trace out a time path of metal prices. This framework shows that unpredictable shifts in demand, extraction costs and discovery of reserves, make estimation of the slope of this underlying trend an empirical question. Further, the low elasticity of demand and supply cause large volatility in the prices, which makes estimation of the trend difficult. We estimate the trend in metal prices employing econometric procedures that are robust to the underlying order of integration of the data and allow for nonstationary volatility, which we note is a characteristic feature of metal prices. We further analyse whether metal prices are characterised by stochastic trends by conducting unit root tests that allow for nonstationary volatility. Applying these procedures on metal prices for over a century, we draw conclusions that relate to policy.     

天丝/牛奶纤维混纺纱的产品开发

通过对天丝、牛奶纤维的品质特性分析,制定了13.8tex混纺针织用纱的生产工艺,并着重强调了提高产品质量的技术措施。