信息不对称资本市场的实验研究

我们采用经济学实验研究方法构建了信息不对称的实验室资本市场,研究信息是否可以通过市场迅速传递。实验结果表明,在信息不对称的情况下,资本市场是非有效的;市场对信息的传递和价格反应是有条件的而且也是需要时间的;资本市场中的投资者并非完全理性,而是具有认知和行为偏差的普通人,存在过度自信和过度交易的情况;信息不对称还可能引起市场操纵行为,从而导致价格泡沫的形成。     

基于计算机信息集成技术的房产管理信息系统

基于计算机信息集成技术的房产管理信息系统是房管部门实现房产管理现代化的一种重要途径。这种系统不但具有房产信息管理的输入、查询、检索、修改、计算、统计等一般功能，而且在信息集成技术的支持下还可以实现信息的数据集中、网络共享、并行处理、数据完整等优点。本详细探讨了这种基于计算机信息集成技术的房产信息管理系统系统分析、系统设计以及系统实施等几个重要开发过程的设计思想和作业内容，对计算机信息集成技术的相关内容也进行了一定介绍。     

国际化人力资源管理理论在医院中的实践

医院是重要的社会组成部分,关系人民的生命健康。目前,国内的医院主要以国家事业单位为主,小型的私营医院份额较少,导致现在医院内部的人力资源管理缺乏市场机制的调控,受行政干预较强,难免出现人力资源管理上的不足。     

移动图书馆——泛在知识环境下的图书馆信息服务新途径

泛在知识环境下的移动图书馆为图书馆信息服务提供了新途径,是图书馆向数字化、信息化发展的新方向。本文简单介绍了移动图书馆的相关概念、特征和服务类型,分析了发展移动图书馆的障碍并提出了应对策略。     

监狱电子政务信息安全调查及改进方案

本文针对全国监狱电子政务信息安全方面问题,采用样本法,选取全国较典型监狱进行研究,收集了当前我国监狱电子政务在信息安全方面的现状、不足等信息,并进一步研究、提出了针对硬、软件及工作人员的几点可行的改进方案。     

我国城市应急联动平台建设问题研究

应急联动平台建设是各政府部门应急管理的一项基础性工作,建立和健全统一指挥、功能完善、反应灵敏、协调有序的应急联动机制对预防、减少自然灾害、社全安全、公共卫生等突出事件造成的损失具有重大意义。本文将对我国城市应急联动平台建设中存在的问题进行分析,以找出相应的解决方案。     

On the efficiency of intra-industry information transfers: The dilution of the overreaction anomaly

We revisit the stock market anomaly documented by Thomas and Zhang (2008) and show that the apparent mispricing of information transfers has decayed over time, as the US markets experienced rapid improvements in the efficiency of the underlying price formation processes. Utilizing recent advancements in market microstructure research to estimate firm-specific proxies for market efficiency, we demonstrate that the existence of the overreaction anomaly (where stock prices of late announcers in response to the earnings reported by early announcers in the same industry are negatively related to subsequent price responses of late announcers to their own earnings reports) is specific to an earlier sample period and results from the inefficient incorporation of information into prices, largely attributable to an environment with high barriers to arbitrage. Our results indicate that the pricing efficiency of intra-industry information transfers has increased in the recent years of increased liquidity and markedly higher trading activity.     

Exploring the use of travel information – identifying contextual market segmentation in Seoul, Korea

As the amount of information is rapidly growing, and ubiquitous urban environments are emerging, the question which kind of information to provide is a major challenge for commercial and public travel-information service providers alike. This paper reports the analyses of recent data, collected in Metropolitan Seoul, about the acquisition of travel information. The study applies CHAID analysis to find homogeneous segments in travel information acquisition. Findings indicate that contextual variables are crucial to explain information acquisition behaviour, depending on decision context. The implication is that both socioeconomic and contextual variables are important to better understand the acquisition (and provision) of travel information. The results have important implications for managers and policy-makers, in particular in the way they respond to dynamic, contextual market segmentation.     

银行业务地域特征和银行机构集聚

由于交通成本和信息成本的存在,银行业务呈现出一定的地域特征。不同的地域特征使得各个地区适合集聚的银行业务也存在差异。地方政府应该根据经济发展水平、金融业务资源禀赋、地理环境和金融生态环境等因素的实际情况,选择合适的政策措施,促进银行业务和银行机构的集聚。     

Contests with spying: A comment

The subject of the following comment is a paper by Baik and Shogren which has been published in this journal (Vol. 11, No. 3 (1995) pp. 441–451). In their game-theoretic model, Baik and Shogren connect the informational states of the agents in a way which leads to inconsistencies.