我国微型金融可持续发展的战略选择

在深人推进新农村建设和扶贫开发,全面改善农村生产生活条件,加大强农惠农富农政策力度,让广大农民平等参与现代化的进程中,微型金融在大中型农村金融机构逐步退出农村金融市场的背景下,填补了农村金融体系的空白,在解决城乡发展不平衡和农村低收人群体融资难等方面发挥了不可或缺的作用。然而,由于我国微型金融起步比较晚,国内缺乏可借鉴的成功模式,其可持续发展受制于利率市场化程度不高、微型金融法律环境不完善、产品创新不足等因素而缺乏动力。因此,我们应该借鉴国外微型金融持续健康发展的成熟经验,做出我国微型金融可持续发展的科学战略选择。     

基于SFA的鲁浙苏城商行技术效率对比及影响因素研究

文章采用随机前沿方法（SFA）估计了江苏、山东、浙江三地19家城市商业银行2007年-2012年的技术效率,在对比分析的同时研究影响其技术效率差异的非效率因素。实证结果表明,三地城商行六年来技术效率逐年提升,且浙江、山东五家城商行六年平均技术效率值位居前列,并表现出较为稳定的技术效率状态;法人治理结构是影响样本城商行技术效率差异的重要因素,适度分散化的股权结构及战略投资者持股与样本城商行的技术效率呈显著正相关。     

Information diffusion and the predictability of New Zealand stock market returns

This paper examines the impact of international predictors from liquid markets on the predictability of excess returns in the New Zealand stock market using data from May 1992 to February 2011. We find that US stock market return and VIX contribute significantly to the out‐of‐sample forecasts at short horizons even after controlling for the effect of local predictors, while the contribution by Australian stock market return is not significant. We further demonstrate that the predictability of New Zealand stock market returns using US market predictors could be explained by the information diffusion between these two countries.     

A Heckman Sample Selection Approach to the Demand for Organic Food Products: An Exploratory Study Using Penang Data

Heckman's sample selection analysis is used on survey data in Penang, Malaysia, to examine sociodemographical and attitudinal factors affecting purchase decisions and expenditures on organic food products (OFP). Results of the marginal effects indicate that Chinese, affluent, and those who do not consider price to be a major factor have higher probabilities to spend and expend more on OFP. While Malays, females, and those with concerns about chemical additives and who consume monthly health supplements are likelier purchasers, those who perceive a lack of availability in the market are less prone to procure OFP. Last, individuals between 31–56 years and with more children spend in larger amounts compared to others.     

Emerging Securities Exchanges in Africa

ABSTRACT

African securities markets have not received the academic attention of those in Latin America and Southeast Asia. Historically, capital markets have not played a significant role in financing the development of the African economy. Today, however, African governments are focusing on the importance of moving toward more market-oriented economies and developing the financial market infrastructure to mobilize funds from both the private and public sectors. This paper describes the institutional characteristics of a newly revitalized stock exchange in Nairobi, Kenya. The study concludes that historical and cultural factors play a significant role in the characteristics of the Nairobi Stock Exchange.     

支持向量机在航材供应模型中的研究

针对部队航材供应量预测过程中,样本采集数目较少的实际情况,采用了一种新的预测方法—支持向量机。该方法基于统计学习理论的原理,较好地解决了小样本的学习问题。并以某部队2000～2007年某项航材供应量为学习样本,建立了该项航材的供应量预测模型。计算结果表明,这种方法比传统的方法具有更少的误差和更好的预测精度。     

小样本训练集下人脸图像超分辨率重构算法

文章提出了一种针对小样本训练集的人脸图像超分辨率重构算法。该算法在马尔可夫网络模型的基础上,将视觉相容性检查准则引入到候选分块的匹配准则中,提高了匹配精度和块间兼容性。将权值机制融合进图像的重构过程,强化了训练集的有用性。实验表明,在小样本训练集下,算法能有效地抑制块效应和局部失真现象,明显改善超分辨率图像的质量。     

样本构成、研究设计与寿险需求的影响因素——基于Meta回归的再分析

利用从国内66篇文献中提取的126个经验结果,使用Meta回归方法,探讨了经验研究在样本构成、模型设定、估计方法等方面的差异如何显著影响了寿险需求的经验结果。研究发现,样本中投资型寿险的占比越高,则得到的社会保障、利率、居民储蓄对寿险需求的正向影响越大。是否采用逐步回归进行变量选择、自变量数目、是否采用动态模型、是否控制不可观测异质性等研究设计特征也显著影响了部分因素的经验结果。此外发现,该领域的研究存在一定程度的发表偏倚现象。     

浅谈MPLS技术如何实现IP over WDM

人类进入信息时代以来,各种信息传输技术正在互相渗透甚至融合,计算机网络和多媒体技术的日新月异,使信息的获取、传送、存储、处理不再有孤岛现象.在这个进程当中,MPLS技术越来越多地出现在人们的视线中,它将为实现IP over WDM带来福音,也将成为未来最具竞争潜力的网络信息交换技术之一.