IPO 募资双重管制与资源配置——基于自然实验的经验证据

本文探讨我国首发市场中针对募集资金的两种管制政策的交互效应对资源配置的影响.研究结果发现,募资用途和募资额度管制的交互作用会导致募资不足,从而加大公司上市后融资约束的程度,进而引起投资不足. 2009年放开募资额度管制后,公司的融资约束得到缓解,但持有过量的超募资金又会引发过度投资.进一步研究发现,企业持有的超募资金与其长期绩效呈倒U型关系.本文的研究结论对目前处于酝酿中的IPO注册制的相关政策制定和制度设计具有参考意义.     

中国传统手工艺文化重建的路径分析

工业社会各种文化对传统手工艺文化的冲击和破坏是当前传统手工艺传承和保护困难的原因之一。适应当代社会文化发展的需要,重建传统手工艺文化是促进当前手工业发展的必要工作之一。要明确我国传统手工艺文化的突出特征以及文化重建的内涵。应结合现代工业文化的影响,对传统手工艺文化进行有重点的重建。重建的关键路径是,适应现代企业经营理念,重建传统手工业企业的经营文化和技艺传承文化,同时激发社会对传统手工艺文化的消费需求。     

Interval estimation for conformance proportions of multiple quality characteristics

A conformance proportion is an important and useful index to assess industrial quality improvement. Statistical confidence limits for a conformance proportion are usually required not only to perform statistical significance tests, but also to provide useful information for determining practical significance. In this article, we propose approaches for constructing statistical confidence limits for a conformance proportion of multiple quality characteristics. Under the assumption that the variables of interest are distributed with a multivariate normal distribution, we develop an approach based on the concept of a fiducial generalized pivotal quantity (FGPQ). Without any distribution assumption on the variables, we apply some confidence interval construction methods for the conformance proportion by treating it as the probability of a success in a binomial distribution. The performance of the proposed methods is evaluated through detailed simulation studies. The results reveal that the simulated coverage probability (cp) for the FGPQ-based method is generally larger than the claimed value. On the other hand, one of the binomial distribution-based methods, that is, the standard method suggested in classical textbooks, appears to have smaller simulated cps than the nominal level. Two alternatives to the standard method are found to maintain their simulated cps sufficiently close to the claimed level, and hence their performances are judged to be satisfactory. In addition, three examples are given to illustrate the application of the proposed methods.     

领导干部党性修养评价机制研究

建立健全领导干部党性修养评价机制,是加强党的执政能力建设,建设高素质执政骨干队伍的客观需要。坚定的政治信念、牢固的党纪意识、严谨的自律能力、优秀的道德品质和勤勉的工作作风是评价领导干部党性修养的主要内容。要明确评价领导干部党性修养的指导思想、评价主体和评价原则,要建立健全领导干部党性修养的评价指标体系,不断探索科学的评价领导干部党性修养的方式方法。     

从意识形态和诗学看《道德经》的英译

《道德经》是道家创始人老子的经典之作,语言凝练简洁,意义丰富,哲理深厚。勒菲弗尔指出翻译是处于意识形态和诗学控制之下对源文的改写。赞助人影响意识形态,而专业人士更加关注诗学。本文主要从意识形态和诗学角度解读《道德经》的英译,分析意识形态和诗学对《道德经》翻译的影响。     

川东北地区须家河组二段储层差异性分析

随着勘探程度的深入，为了扩大四川盆地天然气勘探领域、寻找新的勘探接替区，四川盆地的勘探区域由盆内逐渐向盆缘延伸。在这种背景下，川东北地区须家河组二段相继取得新的勘探成果，但在勘探开发过程中逐渐暴露了诸如区块之间气井产能差异大，储层的碎屑组分、结构及厚度、物性、孔隙结构差异明显等问题，制约了勘探开发的步伐。针对上述问题，根据岩芯观察描述、分析化验资料及测井解释成果，从沉积、成岩方面入手，对比剖析了川东北龙岗和营山地区须二段储层特征的差异性及其成因，认为远离物源区和高能水体的反复淘洗是造成储层差异性的首要因素，强烈的压实作用和多期石英加大对储层差异性起关键作用，自生绿泥石衬边胶结和长石选择性溶蚀最终决定了储层差异性。从而解释了气藏勘探开发中遇到的诸多问题，对有效指导该区的下一步勘探开发工作具有重要意义。     

现代性批判:权力和资本的不同视角——福柯与马克思现代性批判思想的比较

对微观权力的分析是福柯打破教条化马克思主义的一种努力,拓展了现代性批判的视野,在一定程度上丰富和补充了马克思的现代性批判思想,使我们从丰富多彩的社会生活中对现代性的黑暗、矛盾有了更加深刻的理解。整体上说,福柯的权力概念过于泛化,而且只有与马克思的资本概念联系起来理解才能避免抽象化。福柯所倡导的微观政治、生存美学忽视了宏观权力在当代社会的统摄作用,它所表达的不过是西方国家在马克思所主张的无产阶级革命没有希望情况下的一种抗争。     

On hysteretic vector autoregressive model with applications

This paper proposes a new hysteretic vector autoregressive (HVAR) model in which the regime switching may be delayed when the hysteresis variable lies in a hysteresis zone. We integrate an adapted multivariate Student-t distribution from amending the scale mixtures of normal distributions. This HVAR model allows for a higher degree of flexibility in the degrees of freedom for each time series. We use the proposed model to test for a causal relationship between any two target time series. Using posterior odds ratios, we overcome the limitations of the classical approach to multiple testing. Both simulated and real examples herein help illustrate the suggested methods. We apply the proposed HVAR model to investigate the causal relationship between the quarterly growth rates of gross domestic product of United Kingdom and United States. Moreover, we check the pairwise lagged dependence of daily PM2.5 levels in three districts of Taipei.     

On Bartlett correction of empirical likelihood for regularly spaced spatial data

Bartlett correction constitutes one of the attractive features of empirical likelihood because it enables the construction of confidence regions for parameters with improved coverage probabilities. We study the Bartlett correction of spatial frequency domain empirical likelihood (SFDEL) based on general spectral estimating functions for regularly spaced spatial data. This general formulation can be applied to testing and estimation problems in spatial analysis, for example testing covariance isotropy, testing covariance separability as well as estimating the parameters of spatial covariance models. We show that the SFDEL is Bartlett correctable. In particular, the improvement in coverage accuracies of the Bartlett‐corrected confidence regions depends on the underlying spatial structures. The Canadian Journal of Statistics 47: 455–472; 2019 © 2019 Statistical Society of Canada     

Optimal scheduling replacement policies for a system with multiple random works

From the economical viewpoint in reliability theory, this paper addresses a scheduling replacement problem for a single operating system which works at random times for multiple jobs. The system is subject to stochastic failure which results the imperfect maintenance activity based on some random failure mechanism: minimal repair due to type-I (repairable) failure, or corrective replacement due to type-II (non-repairable) failure. Three scheduling models for the system with multiple jobs are considered: a single work, N tandem works, and N parallel works. To control the deterioration process, the preventive replacement is planned to undergo at a scheduling time T or the job's completion time of for each model. The objective is to determine the optimal scheduling parameters (T^* or N^*) that minimizes the mean cost rate function in a finite time horizon for each model. A numerical example is provided to illustrate the proposed analytical model. Because the framework and analysis are general, the proposed models extend several existing results.