Stock Price and Volume Effects Associated with Compositional Changes in European Stock Indices

This paper provides further evidence of price and volume effects associated with index compositional changes by analysing the inclusions (exclusions) from the French CAC40 and SBF120 indices, as well as the FTSE100. I find evidence supporting the price pressure hypothesis associated with index fund rebalancing, but weak or no evidence for the imperfect substitution, liquidity and information hypotheses. The results improve on recent evidence from the S&P500 index. The evidence for the FTSE100 additions shows, in particular, that markets learn about an imminent inclusion and incorporate this information into prices, even before the announcement date.     

分布式通信流分析系统的实现

文章介绍了通信流分析以及匿名通信的研究现状,并分析了现在研究通信流分析所采用的几种流分析工具,指出他们对于匿名通信的通信流分析的不足之处,最后,提出了适应于匿名通信的分布式通信流分析系统的实现方法。     

Capital market trading volume: an overview and some preliminary conclusions

This paper suggests an explanation for the heavy trading volumeobserved on the US capital markets, the world's largest. Heterodoxeconomic theory puts much of this volume down to speculation.Mainstream theory tends to support this thesis, either directlyor indirectly, by giving space to the idea that trading activityis for the most part exogenous to the functioning of the capitalmarkets. The central hypothesis of this paper is that the tradingvolumes observed are an endogenous feature of the capital markets,because they are to a great extent determined by the needs ofthe institutional investors who predominate on these markets.This endogeneity of trading is posited in connection with theemergence of a new ‘core–satellite’ paradigmin institutional investment, a development that essentiallymanifests the asset-management industry's transformation froma small industry serving a few wealthy clients to a mass industryserving large sections of the population.     

Abnormal trading volume,news and market efficiency: Evidence from the Jamaica Stock Exchange

This paper investigates market efficiency of the Jamaica Stock Exchange (JSE). Together, weak and semi-strong form efficiency claim that historical and newly released public information do not predict future stock price movement. We test both forms of market efficiency by analyzing stock price behavior during times of abnormal trading volume and around the release dates of earnings information. Abnormal trading volume may be driven by liquidity demand or reflect new or private information flow to the market. Using JSE data over the period 2000 to 2021, we find price dynamics consistent with price pressure as firms experience negative abnormal returns on the day of abnormal trading activity but offsetting positive abnormal stock returns on the following day. Further findings show post earnings announcement drift on the JSE. Taken as a whole, the evidence suggests violations of market efficiency and has implications for capital allocation in this emerging market.     

历史成本法下存货计价的比较研究

存货在大多数企业的流动资产中乃至总资产中所占的比重很大 ,因此存货价值的确定直接影响到企业经营成果的确定。不同的计价方法对企业财务状况、盈亏情况都会产生不同的影响。本文通过实例来研究在通货膨胀期间 ,采用历史成本法对存货进行核算 ,无论在永续盘存制下 ,还是在定期盘存制下都会得出 ,先进先出法算出的期末存货额最高 ,销货成本额最低 ,毛利和税后净利最高。后进先出法算出的期末存货额最低 ,销货成本额最高 ,毛利和税后净利最低。加权平均法和移动平均法介于两者之间。     

山区公路交通流特性分析与评价

首先由观测数据确定代表车型的运行速度,采用实际路段调查得到的运行速度作为评价指标,分析山区公路的交通流运行状况,然后通过实地调查采集山区公路典型断面的交通流数据,统计交通量、交通组成以及不同车型运行速度的分布情况,并通过分析交通组成以及车速连贯性和离散性等直接影响道路交通安全的因素,对事故多发路段的交通流运行状态特征进行分析和评价。最后,选取京昆高速公路某典型路段,对该路段的交通流特性进行分析与评价,可为相关工作人员提供借鉴和帮助。     

探究“新零销售”模式下影响销售量的相关因素

在新零销售模式的推动下,客户越来越倾向于消费个性化的商品。为了精准预测客户的消费需求,论文以单款单色产品为研究对象,通过建立多元回归分析的数学模型,来探究影响商品销售量的相关因素。经过分析发现,除了一些定性因素外,定量因素对销售量也产生了一定的影响,其中实际花费总金额、实际销售单价、库存数等定量因素对销售量的影响较大,且各个变量之间具有相关性,所以电商平台应特别关注这三个变量的影响。     

基于计算机仿真的堆石坝坝面流水施工方案研究

根据流水施工的基本原理和堆石坝填筑的施工特点，利用计算机仿真技术对堆石坝施工交通运输系统进行模拟，考虑了堆石坝土石方挖运对其坝面流水施工的影响，合理确定出坝面流水施工方案，使其既能够满足施工进度所要求的填筑强度，又能够保证各分区可以进行流水施工。     

城市物流基地选址问题研究

本文将物流基地纳入城市交通网络中，以体现交通状况对物流基地选址的影响。在进行选址时，以运输费用和基地的投资、管理费用总和最小为规划者的主要目标，建立目标函数。选址的上层模型体现了运输费用和基地投资费用、管理费用最小的原则，下层模型体现了入选点的不同对交通流量分配的影响，下层模型是求解上层模型的基础。     

经济周期性波动与适度调节

改革以来,经济周期性波动的变化特征说明了我国经济的稳定性与抗风险能力增强;经济波动的根源是生产与消费的矛盾,矛盾激化到一定程度,经济运行就表现较大幅度的波动;市场条件与生产条件相背离是生产与消费矛盾激化的市场表现;生产条件短期是难以改变的,而市场条件的改变又是相对迅速的,宏观调控的重要作用就是要适时地调整并改变市场条件,使之与生产条件相适应;需要注意的是,这种调整应该适时适度,否则,反而会进一步加剧经济的较大幅度波动。