生命周期评价方法及其应用

介绍了生命周期评价的目的、意义和基本方法，并运用该方法对燃煤发电、废纸造纸、废旧塑料气化发电等几种不同工业过程的环境影响进行了分析。     

具有奖励机制与再保险安排的最优保险合约设计

在保险合约中引入奖励机制可以使投保人动态参与到保险合约中,赋予了投保人在面对索赔事件时是否执行索赔的可选择权,改变了传统保险合约中投保人执行索赔的单一权利,但却增加了保险人潜在的流动性风险。保险合约中再保险的安排则可以对冲由于奖励机制产生的潜在流动性风险,进一步分散保险人的风险,有助于保险人稳健经营。基于此,通过建立具有红利奖励机制与再保险安排的最优保险合约设计模型,最终求解得到最优保险合约是具有最优免赔额形式的保险合约。利用算例研究方法进行建模,研究结果显示,最优保险合约中的最优免赔额与奖励机制中的红利奖励之间具有正向关系,保费、自留额与最优免赔额之间则存在着显著的负向关系。     

Financial statements based bank risk aggregation

One of the major challenges involved in risk aggregation is the lack of risk data. Recently, researchers have found that mapping financial statements into risk types is a satisfactory way to resolve the problem of data shortage and inconsistency. Nevertheless, ignoring off-balance sheet (OBS) items has so far been regarded as the usual practice in risk aggregation, which may lead to deviations in conclusions. Hence, we improve the financial statements based risk aggregation framework by mapping OBS items into risk types. Based on 487 quarterly financial statements from all 16 listed Chinese commercial banks over the period 2007–2014, we empirically study whether the overall impact of OBS activities and the individual impact of each of the OBS risk types on total risk depend on bank size. Moreover, this research divides the sample into two subsets, during and after the subprime crisis, to find out how the subprime crisis affects risks of Chinese banks. Our empirical results show that although OBS credit risk is positively linked to total risk while OBS operational risk is negatively linked to total risk for both large and small banks, the overall impact of OBS activities on total risk depends on bank size. The overall OBS activities are positively related to the large bank’s total risk while they are negatively related to the small bank’s total risk. Besides, we also found that it is the increase of liquidity risk and market risk that leads to the larger total risk of Chinese banks during the subprime crisis.     

浅谈公共支出中的效率与公平问题

公共支出的效率与公平面临两难困境,如何权衡其中的利弊关系到整个社会的福利.在效率优先的原则下,最大的实现社会公平,使每个社会成员的个人偏好都能得到最大的满足.合理运用公共支出项目,不断推动社会经济的增长.     

维生素C注射液生产工艺的设计与稳定性探讨

通过对维生素C注射液旧的生产工艺进行改进,考察其产品质量的稳定性。解决了维生素C注射液颜色发黄、pH不稳定、质量分数下降的质量问题。采用新工艺生产出的维生素C注射液符合法定标准且质量稳定性好。     

我国加工贸易与经济增长关系的实证分析

近年来加工贸易快速发展,促进了我国对外贸易和经济的增长。目前国内学者对加工贸易贡献作用的看法不一。通过从一般贸易的出口、一般贸易进口、加工贸易的出口、加工贸易进口四个方面对我国GDP增长做实证分析,得出相关结论：一般贸易进出口与加工贸易出口对经济增长有促进作用,加工贸易进口增长会使GDP出现负增长。     

发达国家林产品绿色政府采购政策兴起及发展趋势

回顾了英国、新西兰、丹麦、法国、日本等发达国家的林产品绿色政府采购政策兴起及其历程,并对未来发展趋势进行分析。虽然实施时间比较短,林产品绿色政府采购政策的实施效果尚难以得到准确评估,但从长远来看,实施林产品绿色政府采购政策将促进林产品的合法交易和相关国家木材的可持续发展,具有较好的发展前景。另一方面因国情不同,木材贸易现状各异,目前各国对林产品绿色政府采购政策分歧较大。中国作为木材贸易大国,对此应加以重视。     

浅论供应商管理模式

供应商是供应链系统中的重要环节,要提高供应链企业的同步化运作效率,就必须选择合适的供应商,加强供应商管理,采用正确的供应商管理模式。     

随机利率下的企业贷款投资决策研究:一个基于IRR的实物期权模型

本文建立了具有不确定成本的投资决策模型,随机成本具体表现为贷款利息,将贷款弹性构造为一个看跌型实物期权,由此得到贷款触发点和贷款概率。不同于实物期权的修正NPV原则,本文提出了一个基于IRR的判断标准,简化了动态规划方程。数值模拟结果显示,企业贷款可能性与利率均值回归程度呈正向关系,但利率风险对企业贷款投资的影响并不稳健。本文最后在消除信息不对称下得到了信贷配给的适用范围。     

Discovering bank risk factors from financial statements based on a new semi‐supervised text mining algorithm

This paper aims to comprehensively uncover bank risk factors from qualitative textual risk disclosures reported in financial statements, which contain a huge amount of information on bank risks. We propose a new semi‐supervised text mining approach named naive collision algorithm to analyse the textual risk disclosures, which can more accurately identify bank risk factors compared with the typical unsupervised text mining approach. We identified 21 bank risk factors in total, which is far more than identified in previous studies. We further analyse the importance of each bank risk factor and how the importance of each risk factor changes over time.