The Effectiveness of Technical Trading for Arab Stocks

In this paper, we examine the profitability of technical analysis for a cross section of individual Arab stocks. Our analysis, undertaken from the perspective of an Islamic investor, reveals that technical trading rules do not yield economically or statistically significant returns. While our results uncover some scant statistical evidence of technical trading rule profitability, risk adjusting the returns weakens the evidence in favor of predictability. Furthermore, break-even transaction costs do not exceed estimated transaction costs or bid-ask spreads in the markets examined.     

湘江生态文明建设的问题与对策思考

改革开放近30年来,我国的经济建设取得了举世瞩目的伟大成就,但必须清醒地看到,我国的生态形势也十分严峻。湘江作为长沙的母亲河,水资源枯竭、水污染、河道堵塞以及渔业破坏非常严重,为解决湘江的生态问题,必须加强宣传,改变传统的经济增长方式,制定合理规划,保证资金的投入。     

论城市行政执法的理论基础

目前有关城市行政执法问题的研究,更多地是从批判的角度思考问题,并且有相当部分的研究是结合案例进行的,这就导致了研究者在探讨问题时将自身置于事件之中,从而不可避免地将研究结论与个案联系在一起,导致研究成果的局限性.然而,城市行政执法不仅仅是行使处罚权的问题,还涉及到执法制度的构建等相关内容,应该放在一个行政执法大的框架下进行研究,探讨其理论基础和法律依据,理清城市执法的整体思路和制度设计思想.     

上海法治水平对金融发展的影响分析

以1997-2009年的上海数据为样本,通过带有控制变量的向量误差修正模型（VECM）和格兰杰（Granger）因果检验方法,研究法治水平与金融发展规模、效率以及银行业竞争之间的相关关系和因果关系.检验结果表明：法治水平与金融发展规模、效率及银行业竞争之间存在长期稳定均衡关系;法治水平的提高是促进金融发展规模、效率以及银行业竞争的格兰杰原因.因此,“国际金融中心”的建设不仅要注重法律体系的完善,更要加强法治.     

Product risk reduction using consensus theory

Product analytics is a blend of computational methods with the express purpose of facilitating the multifaceted process of decision-making based on demographic and consumer preferences. This complex subject is derived from consensus theory and includes structured analytics, categories, and the combination of evidence. The methodology is applicable to a wide range of business, economic, social, political, and strategic decisions. The paper describes a product allocation application to demonstrate the conceots.     

An empirical evaluation of China’s monetary policies

This paper investigates the responsiveness of the Chinese government’s monetary policies in terms of the money supply and interest rates to economic conditions and the effectiveness of these policies in achieving the goals of stimulating economic growth and controlling inflation. We analyze the responsiveness and effectiveness by estimating the Taylor rule, the McCallum rule, and a vector autoregressive model using quarterly data in the period of 1992-2009. The results show that, overall, the monetary policy variables respond to economic growth and the inflation rate, but the magnitudes of the responses are much weaker than those observed in market economies. Money supply responded actively to both the inflation rate and the real output and had certain effects on the future inflation rates and real output. The official interest rates, on the other hand, responded passively to the inflation rate and did not respond to the real output. They do not have any effect on future inflation rates and real output either.     

对事业单位会计核算制度改革的几点认识

本文就事业会计改革，谈几点认识：第一，事业财务改革具有客观性和必然性；第二，对事业会计改革主要内容的理解和体会，面对这场预算会计改革，对事业单位会计人员和财会机构将是一场挑战。     

Decision Making Costs and Problem Solving Performance

We report the results from an experimental study of how problem solving behavior is affected by financial rewards. We formulate three alternative hypotheses: costly rationality, extrinsic/intrinsic trade-off, and distraction effects. Subjects play a computerized version of the Tower-of-Hanoi game and report their beliefs about the optimal solution through a quadratic scoring rule. Subjects participate in one of two treatments: a high penalty and a low penalty. We find that eliciting beliefs, in addition to observing playing behavior, reveals useful information about subjects' cognitive behavior. We reject our hypothesis that the increase in the extrinsic penalty affects the intrinsic valuation in such a way as to decrease the amount of effort applied.     

我国现阶段加强城市社区管理法治化建设探析

城市社区管理法治化建设是我国社会主义法治建设的重要组成部分,是构建和谐社会、维护社会稳定、繁荣的必然要求。本文从马克思主义法学视角对我国现阶段加强城市社区管理法治化建设的重要性、面临的主要问题以及逐步推动城市社区管理法治化进程的主要路径等问题进行了探析。     

关于法治建设表层化问题研究

中国法治建设进程中存在着法治建设表层化问题,表现为注重外部形式的法律条文和制度建设,轻视法治理念建设,这阻碍了法治建设的实质进展,笔者从文化、经济、政治三角度分析了法治建设表层化的原因,进而提出了克服法治建设表层化的具体途径。