我国金融控股公司的建立及立法规制

金融控股公司是现代金融业发展的新的组织形式,我国应着手建立金融控股公司,本文主要从我国实际出发,探讨建立我国金融控股公司的现实途经,并在此基础上,提出从法律上如何进行规制,以便为其健康发展提供法律保障。     

设计审美的当代意义

设计审美的当代意义主要体现在三个层面:由异质间性生成设计审美的本体意义,并以此构成当代文化典型表征;由普遍交往生成设计审美的社会意义,并以此展现当代社会典型景观;由系统关联生成设计审美的深层意义,并以此建构当代审美典型范畴。它们的互动张力构成设计审美的当代意义视域。     

Can a team have too much cohesion? The dark side to network density

The goal of most work teams is high performance. Prior studies suggest that performance within work groups is influenced by that group’s social network topology. Research has generally revealed to date that group cohesion (i.e., network density) is positively related to team performance under certain conditions. However, more recent research has indicated that this is not the full story. Recent research suggests that an inverse curvilinear relationship exists between social network measures (of which group cohesion is one) and team performance. In response to the need for understanding this relationship more fully, and leveraging the promising new insights that can be garnered with the use of social network analysis (SNA), this study employs SNA as a tool to explore the structural cohesiveness of teams of travel agents. This research extends our understanding of the relationship between intragroup social network relations and team performance by confirming an inverse curvilinear relationship exists between group cohesion and team performance. This paper leverages email communication to determine the social networks of each team, and then examines such in light of team performance. In total, an analysis of more than 7 million emails was undertaken. This study was conducted with work teams within a service organization. Each team in the study carries out the same tasks, i.e., identical task contingency, yet represents a distinct unit of analysis. The study confirms that social network topology is a valuable predictor of team performance and confirms that, like so many other social network measures, group cohesion and team performance share an inverse ‘U’ shaped relationship, not strictly a positive one as previously posited.     

Criteria for the equality between ordinary least squares and best linear unbiased estimators under certain linear models

A new necessary and sufficient condition is derived for the equality between the ordinary least-squares estimator and the best linear unbiased estimator of the expectation vector in linear models with certain specific design matrices. This condition is then applied to special cases involving one-way and two-way classification models.     

签字审计师搭档异质性特征与审计意见研究——基于媒体报道利用视角

媒体报道对审计行为的影响已成为近年的研究热点。既有研究多将两位签字审计师视作一个整体,忽视了二者在媒体报道获取和认知能力方面存在差异的客观实际。基于有限关注理论和高阶梯队理论,探究了签字审计师搭档异质性特征在关注和利用媒体报道中的作用,发现签字审计师搭档异质性特征能够显著弱化正面报道对审计意见的影响,并提高了出具非标准审计意见的可能性。区分签字审计师搭档与客户是否存在亲密关系后发现,具有异质性特征的签字审计师搭档能够显著弱化客户亲密关系对出具非标准审计意见的影响,非标准审计意见被出具的概率得以提高。因此,审计项目组、会计师事务所和监管部门应当充分考虑签字审计师搭档的职位和专业背景等异质性特征,合理配置审计师资源,形成更符合审计执业需求的人力资本结构。     

PMSE performance of two different types of preliminary test estimators under a multivariate t error term

Abstract

In this paper, assuming that the error terms follow a multivariate t distribution, we derive the exact formula for the predictive mean squared error (PMSE) of two different types of pretest estimators. It is shown analytically that one of the pretest estimator dominates the SR estimator if a critical value of the pretest is chosen appropriately. Also, we compare the PMSE of the pretest estimators with the MMSE, AMMSE, SR and PSR estimators by numerical evaluations. Our results show that the pretest estimators dominate the OLS estimator for all combinations when the degrees of freedom is not more than 5.     

基于核和灰度的双重异构数据序列预测建模方法研究

通过建立灰色异构数据"核"序列的DGM(1,1)模型,实现双重异构数据"核"的预测;以"核"为基础、以双重异构数据序列中较大的区间灰数信息域作为预测结果的信息域,构建基于区间灰数与实数的双重异构数据序列灰色预测模型,有效地将灰色预测模型建模对象从"同质数据"拓展至"双重异构数据"。研究成果对丰富灰色预测模型理论体系具有积极意义。     

异质机构投资者、实地调研与公司财务重述行为

上市公司真实、准确地履行财务信息披露责任,对于保护投资者权益、稳定资本市场具有重要意义。基于2013—2020年中国深圳证券交易所A股上市公司数据,考察了异质机构投资者对公司财务重述行为的影响。研究发现,同交易型机构投资者相比,稳定型机构投资者显著抑制了公司财务重述行为,实地调研则强化了上述抑制作用。机制分析表明,稳定型机构投资者通过改善公司信息环境、提高内部控制水平发挥抑制作用。进一步研究发现,稳定型机构投资者对技术问题型和非技术问题型财务重述行为、欺诈型和非欺诈型财务重述行为均有抑制作用,但实地调研仅强化了对非技术问题型和非欺诈型财务重述行为的抑制作用。因此,监管部门应积极引入稳定型机构投资者,完善投资者实地调研的相关制度,从而形成对上市公司会计信息质量的有效外部监督。     

Multivariate linear regression for heterogeneous data

The problem of multivariate regression modelling in the presence of heterogeneous data is dealt to address the relevant issue of the influence of such heterogeneity in assessing the linear relations between responses and explanatory variables. In spite of its popularity, clusterwise regression is not designed to identify the linear relationships within ‘homogeneous’ clusters exhibiting internal cohesion and external separation. A within-clusterwise regression is introduced to achieve this aim and, since the possible presence of a linear relation ‘between’ clusters should be also taken into account, a general regression model is introduced to account for both the between-cluster and the within-cluster regression variation. Some decompositions of the variance of the responses accounted for are also given, the least-squares estimation of the parameters is derived, together with an appropriate coordinate descent algorithms and the performance of the proposed methodology is evaluated in different datasets.     

Heterogeneous data modeling with two-component Weibull–Poisson distribution

The mixture distribution models are more useful than pure distributions in modeling of heterogeneous data sets. The aim of this paper is to propose mixture of Weibull–Poisson (WP) distributions to model heterogeneous data sets for the first time. So, a powerful alternative mixture distribution is created for modeling of the heterogeneous data sets. In the study, many features of the proposed mixture of WP distributions are examined. Also, the expectation maximization (EM) algorithm is used to determine the maximum-likelihood estimates of the parameters, and the simulation study is conducted for evaluating the performance of the proposed EM scheme. Applications for two real heterogeneous data sets are given to show the flexibility and potentiality of the new mixture distribution.