对群众体育锻炼中，如何合理安排运动量的探讨

本文在体育锻炼能够增强体质，提高健康水平的生物学基础上和群众体育锻炼与专业训练的区别上，提出群众体育锻炼中如何合理安排运动量。     

The market’s view on the probability of banking sector failure: cross-country comparisons

Hall and Miles (1990) suggest an approach of estimating default probabilities of banks using stock market information, and in this paper we apply an aggregated version of their approach to banking sectors around the world in both developed and emerging economies. We study the market’s assessment of the probability of systemic banking crises world wide over the last decade, including the Asian crisis 1997–1998. In addition, we investigate whether there is a relationship between the failure probability and institutional features of the actual banking sector. The quality of governance and the degree of law and order in a country is found to be significantly negatively related to the market based failure probabilities as is an explicit deposit insurance during periods of crisis.     

多功能信号发生器的设计

以MAX038集成芯片为核心,采用MCU微处理器控制程控继电器和数字电位器,设计了多功能信号发生器。能够输出方波、正弦波、三角波和AM信号,并能实现频段选择和频段内频率微调。     

BLK4-250比例控制器在供水系统设计中的应用

介绍用流量／电流比例控制器取代交流变频调速装置作为高压供水系统的核心部件,通过可编程控制器 (PLC)对工频水泵机组的自动控制作用,消除了由变频器在运行过程中所引发的谐波、喘振、憋压、水锤效应等不利因素的影响,达到了稳定供水压力、节约电能、提高系统可靠性的目的。     

基于DSP实时监控系统的视频采集构想

本文在了解上海商学院图文信息楼监控系统的基础上,结合DSP结构及功能提出了基于DSP 的视频采集系统的构想,并阐述在数字化技术飞速发展的今天,网络数字监控将会得到更好的升级与管理。     

Asymmetric ACD models: Introducing price information in ACD models

This paper proposes an asymmetric autoregressive conditional duration (ACD) model, which extends the ACD model of Engle and Russell (1998). The asymmetry consists of letting the duration process depend on the state of the price process. If the price has increased, the parameters of the ACD model can differ from what they are if the price has decreased. The model is applied to the bid-ask quotes of two stocks traded on the NYSE and the evidence in favour of asymmetry is strong. Information effects (Easley and O'Hara 1992) are also empirically relevant. As the model is a transition model for the price process, it delivers `market forecasts' of where prices are heading. A trading strategy based on the model is implemented using tick-by-tick data.While remaining responsible for any error in this paper, the authors would like to thank R. Anderson, G. Le Fol, C. Gouriéroux, J. Jasiak, W. Pohlmeier, A. Roell, O. Scaillet, S. Wei and three anonymous referees for useful remarks and suggestions on previous versions. The authors would also like to thank A. Ruttiens from KBC-CBC for useful discussions on practical issues related to trading. Support of the European Commission Human Capital and Mobility Program through the network `Econometric inference using simulation methods' is gratefully acknowledged. This paper presents research results of the Belgian Program on Interuniversity Poles of Attraction initiated by the Belgian State, Prime Minister's Office, Science Policy Programming. The scientific responsibility is assumed by the authors.     

基于高频数据的深圳基金市场日内周期性研究

本文利用深市基金指数高频数据,采用Anderson和Bollerslev(1997)提出的弹性傅立叶回归(FlexibleFourierFormregression,即FFF回归)方法首次对深市基金市场进行了日内周期性的研究。通过对高频收益的定性分析,发现基金市场具有同股票市场相似的周期性,并对这一周期性进行了初步的理论解释。通过FFF方法,将该周期因子进行滤波处理以后,基金指数高频绝对收益不再具有明显周期性。FFF回归能较好地确定日内周期因子。     

浅析上市公司股利信息在价值投资中的应用

根据信号传递理论,股利政策传递了会计利润所不能传达的信息,股利政策能较为真实的反映一个公司的价值。文章通过对上市公司的分配方案的分析,揭示其利润分配的真实动因,解读管理者传递的公司内部信息,从而预测其未来发展前景,评价其投资价值。     

会计信息产权的矛盾及其解决办法

通过分析会计信息产权性质的演变,指出了股份制公司的会计信息产权存在由初始的私人产权转化为公有产权的要求。单纯依赖市场并不能解决这一问题,但是依赖政府的强制性信息披露制度也只是众多解决办法中的一个。     

从博弈的角度看中小股东解决纠纷的过程--从一个流行模型的残缺谈起

经研究发现 ,张维迎教授在 2 0 0 1年第五版的《博弈论与信息经济学》中所借用的承诺要胁诉讼博弈例子中对诉讼费用的处理有点不妥 ,便作出了适当的调整 ,但却得出了令人沮丧的结论 :承诺要胁诉讼不成立 !继续研究发现只有打破这种败诉风险由当事人承担的机制 ,才能传递出有力量的信号 ,才能做到真正的威胁 ,那就是建立“生死与共”的竞争性的律师定价机制和保费率真正是胜诉率信号的诉讼费用保险机制与最经济的诉讼程序与非诉讼程序、保障其实现的机制和可供的备选机制。本文论证了其合理性