中国股票市场风险因素的相关性研究

近年来国外关于资本资产定价模型(CAPM)的实证研究不断对该模型提出严厉的质疑,其中很多研究认为除了贝塔系数外,市值size、账面市值比be/me、市盈率p/e这三个风险因素都对股票的收益率具有一定的解释能力。然而这些风险因素能否独立地解释股票的收益率还没有定论。就因素本身来说,size与p/e之间存在较强的相关性,而be/me与其余两因素之间几乎不存在相关性。就因素对投资组合收益率的解释能力来说,p/e几乎不具有独立的解释能力,size的独立解释能力最强,而be/me在较大公司中有一定的独立解释能力。     

《西游记》宗教描写的艺术转换

本文主要考察繁本小说《西游记》宗教描写的迁移情况。从本事缘起的角度看,《西游记》的写定者对于《心经》作用的特定呈现,体现出宗教情感思维依然是小说创作的内在依据;历代僧传中的高僧感通故事及其在民间的广为传播,对于《西游记》小说创作具有文本拓展意义。小说中宗教意识与世俗观念的贴合,以及宗教描写向现实人生的转移,隐现了时事缘起的写作意图,代表了宗教描写艺术转换的主要进路。     

电子合同法律调整:模式与框架的探讨

EDI是基于计算机系统之间相互许可的标准信息组织起来并受到电子方式的影响的商业数据的交换。EDI方式缔结的合同所产生的法律问题冲击了传统的合同法律制度 ,因而要求其进行相应的调整     

The probability of degenerate maximum-likelihood estimates with randomly truncated survival data

We study the nonparametric maximum-likelihood estimator of the marginal distribution function in bivariate data with truncated sum (Woodroofe 1985), and calculate the probability that it will assign zero probability to a range of observed values. We show that in a simple artificial model with uniform intensity in both variables the probability may be expressed using recursive formulae, and that large-sample approximations valid under weak regularity conditions show good agreement with as few as 20 observations. In the uniform-intensity model, the probability of degenerate estimates is rather small, being just over 5% with a dataset of 20 observations and falling below 1% with 125 observations. However, in a model of transfusion-associated AIDS in 125 children and adults (Kalbfleisch and Lawless 1989), the probability of degenerate estimates is much larger—about 30% with 20 observations and 3% with the actual 125 observations. This is largely because both the infection and incubation density are increasing over time. Such a pattern makes the condition for degeneracy, i.e., relatively high observed intensity at extreme values of each variable, much more likely.     

论市场经济条件下的按劳分配

"按劳分配"是一种平等的价值观在经济领域的体现,中国当今不存在实现马克思意义上的按劳分配所要求的条件,从而也不存在马克思意义上的按劳分配.市场经济条件下劳动力要素的流动性、平均工资率的形成,同样可以实现按劳分配,但已不是马克思意义上的了.     

江泽民论思想政治工作在解决人民内部矛盾中的运用

江泽民同志非常重视思想政治工作在解决人民内部矛盾中的作用。强调:新时期人民内部矛盾的性质和特点决定了运用思想政治工作手段的可能性和必要性;运用思想政治工作解决人民内部矛盾,要坚持未雨绸缪、预防为主的方针,把工作做到前面去;要妥善地处理人民内部矛盾,思想政治工作应该结合经济、行政和法律手段的综合运用,以形成合力。     

e‐Integration in the Supply Chain: Barriers and Performance*

Current opinion holds that Internet‐based supply chain integration with upstream suppliers and downstream customers (called “e‐integration” in this paper) is superior to traditional ways of doing business. This proposition remains untested, however, and similarly we know little about what are the upstream, internal, and downstream barriers to implementing e‐integration. This paper empirically addressed these questions using data from a large single nation study, and found (1) a positive link between e‐integration and performance, and (2) that internal barriers impeded e‐integration more than either upstream supplier barriers or downstream customer barriers. Findings from this study contribute to our theoretical understanding of implementing change in contemporary supply chains, and have important implications for manufacturers interested in improving their supply chain's performance using the Internet.     

Flow Coordination and Information Sharing in Supply Chains: Review,Implications, and Directions for Future Research

Advances in information technology, particularly in the e‐business arena, are enabling firms to rethink their supply chain strategies and explore new avenues for inter‐organizational cooperation. However, an incomplete understanding of the value of information sharing and physical flow coordination hinder these efforts. This research attempts to help fill these gaps by surveying prior research in the area, categorized in terms of information sharing and flow coordination. We conclude by highlighting gaps in the current body of knowledge and identifying promising areas for future research.     

A note on Läuter-type robust design for polynomial regression models

In this paper, we consider the problem of model robust design for simultaneous parameter estimation among a class of polynomial regression models with degree up to k. A generalized D-optimality criterion, the Ψ_α‐optimality criterion, first introduced by Läuter (1974) is considered for this problem. By applying the theory of canonical moments and the technique of maximin principle, we derive a model robust optimal design in the sense of having highest minimum Ψ_α‐efficiency. Numerical comparison indicates that the proposed design has remarkable performance for parameter estimation in all of the considered rival models.     

Islamisation and activism of a Muslim NGO in Pakistan: Jama'at‐ud‐Da'wa as a case study

This paper locates the study of Jamat‐ud‐Da'wa (JUD) within the context of global political developments. Premised on the nexus between the local and the global developments, it discusses how changes in the domestic or international arena shaped the policies of JUD after 9/11. It argues that, as a successor to the Lashker‐e‐Toiba in Pakistan, the JUD has been active in the social welfare space. It has moved into roles that reside in the domain of the state's responsibility but have passed to the private sector due to the state's failure to meet the needs of its citizens, including the provision of education and relief and rescue efforts after natural disasters. Though not categorically identified as being part of the jihadi agenda, this activism increases the appeal of the JUD among Pakistani citizens, with a possibility of increasing their declared and/or active support for JUD's views on Pakistan's foreign policy.