TiO2光催化氧化研究进展

本文着重介绍了光催化氧化反应的特点，TiO2的性质及光催化的原理，TiO2光催化剂的制各方法及其应用，提出目前存在的问题，对研究开发方向做了展望。     

B2C电子商务商城信用博弈分析

本文首先运用博弈论的方法,对B2C电子商务商城中存在的访问量大但交易量低的现象进行了分析,分析得出现有的模型只能让商城选择"不守信",顾客选择"不购买"。然后提出两种解决方案,并按照这两种方案把博弈模型由完全信息静态博弈改进为完全信息动态博弈,通过对改进模型的深入分析两种方案在实践中的积极作用。最后对两种方案进行了比较,认为引入第三方支付平台,是最好的解决方案。     

中小企业发展B2C电子商务的策略研究

利用信息技术和网络安全技术的快速发展,开展电子商务是广大中小企业的出路。中小企业开展B2C电子商务可以缩减成本,促进产品升级,提升企业形象,但B2C这种模式还没有完全成熟,平台选择缺乏目的性。应根据资金实力、产品类型制定不同的方案来选择开展电子商务的方向和范围,针对网上渠道开发新产品,建立网上品牌,开拓互补行业的广告业务,并建立电子商务一体化,发散思维,用创新的态度对待B2C之路。     

基于J2EE技术开发电子商务网站分析

J2EE是一种利用Java2平台来简化企业解决方案的开发、部署和管理相关复杂问题的体系结构。本文对基于J2EE技术开发电子商务网站做了相关的分析。     

Fiscal Policy in a Currency Union at the Zero Lower Bound

This paper constructs a two‐country core–periphery New Keynesian model of a currency union to address the interaction between the objectives of regionally directed fiscal policy constrained by a single currency and the aggregate use of fiscal policy in face of the zero lower bound (ZLB) on policy interest rates. We identify an optimal path of aggregate and relative fiscal policy responses to a negative region‐specific demand shock. Our results show that (i) in a monetary union, the optimal policy response to an asymmetric reduction in demand concentrated in the periphery always entails a relative shift of fiscal expenditure toward the worse‐affected regions, (ii) though no aggregate fiscal response is required outside the ZLB, and (iii) optimal union‐wide fiscal policy is expansionary at the ZLB. Therefore, optimal policy always entails an expansion in the periphery at the ZLB, but the optimal fiscal response in the core regions can be either expansionary or contractionary depending on the parameters of the model. However, (iv) fiscal expansion in the core is warranted if the periphery cannot implement an expansion due to constraints on public spending.     

Monetary Policy,Trend Inflation,and Unemployment Volatility

The literature has long agreed that the DMP model (after Diamond 1982, Mortensen 1982, Pissarides 1985) with search and matching frictions in the labor market can deliver large volatilities in labor market quantities, consistent with empirical data, only if there is at least some wage stickiness. I show, however, that the model can deliver nontrivial volatilities without wage stickiness, as long as it has price dispersion and nonzero long‐run inflation rates. I find that by keeping inflation at a positive rate, monetary policy may be accountable for the large standard deviations observed on labor market variables. In addition, the Shimer (2005) puzzle disappears under monetary policy shocks.     

The consequences to analyst involvement in the IPO process: Evidence surrounding the JOBS Act

The JOBS Act allows certain analysts to be more involved in the IPO process, but does not relax restrictions on analyst compensation structure. We find that these analysts initiate coverage that is more optimistically biased, less accurate, and generates smaller stock market reactions. Investors purchasing shares following these initiations lose over 3% of their investment by the firm's subsequent earnings release. By contrast, issuers, analysts, and investment banks appear to benefit from this increased bias, as optimism is more positively associated with proxies for firm visibility and investment banking revenues when analysts are involved in the IPO process.     

Sovereign ceilings “lite”? The impact of sovereign ratings on corporate ratings

Although credit rating agencies have gradually moved away from a policy of never rating a corporation above the sovereign (the ‘sovereign ceiling’), it appears that sovereign credit ratings remain a significant determinant of corporate credit ratings. We examine this link using data for advanced and emerging economies over the period of 1995–2009. Our main result is that a sovereign ceiling continues to affect the rating of corporations. The results also suggest that the influence of a sovereign ceiling on corporate ratings remains particularly significant in countries where capital account restrictions are still in place and with high political risk.     

The economics of hedge funds

Hedge fund managers trade off the benefits of leveraging on the alpha-generating strategy against the costs of inefficient fund liquidation. In contrast to the standard risk-seeking intuition, even with a constant-return-to-scale alpha-generating strategy, a risk-neutral manager becomes endogenously risk-averse and decreases leverage following poor performance to increase the fund's survival likelihood. Our calibration suggests that management fees are the majority of the total compensation. Money flows, managerial restart options, and management ownership increase the importance of high-water-mark-based incentive fees but management fees remain the majority. Investors' valuation of fees are highly sensitive to their assessments of the manager's skill.