控股股东现金流权、控制权与企业资本配置决策研究

基于企业内部资本配置的理论阐释,以无风险资产和风险性资产的组合投资为研究对象,从控股股东无偿占用上市公司内部资金的角度构建企业价值期权模型,探析控股股东的现金流权、现金流权与控制权分离度对资本配置决策和企业价值的影响。研究结果表明,控股股东的现金流权与企业资本配置效率正相关,与企业价值正相关;现金流权与控制权分离度与企业资本的配置效率负相关,也与企业价值负相关;并且发现,由大股东侵占而产生的对风险性资产的非效率"挤占"是导致上市企业资本配置行为扭曲的一个重要动因。     

Praxisbegleitung – ein Konzept für die Führungskräfteentwicklung

Colleagues’ monitoring – a concept for executive development. The article presents the concept of Colleagues’ monitoring that combines the following formats: coaching, organisational and professional development. The program which is structured in a compact and modular way, has been for years successfully applied by the management consultancy relations. Methodically the following three elements are essential: to work on concrete personal management topics, the structured consultation with colleagues and to become acquainted with the concepts of organisational development, management and consultancy. The program is an on-going learning-process in a fixed group for six meetings during one year on a regular basis.     

An economic statistical design of the Poisson EWMA control charts for monitoring nonconformities

An economic statistical model of the exponentially weighted moving average (EWMA) control chart for the average number of nonconformities in the sample is proposed. The statistical and economic performance of proposed design are evaluated using the average run length (ARL) and the hourly expected cost, respectively. A Markov chain approach is applied to derive expressions for ARL. The cost model is established based on the general cost function given in Lorenzen and Vance [The economic design of control charts: a unified approach. Technometrics. 1986;28:3–11]. An example is provided to illustrate the application of the proposed model. A sensitivity analysis is also carried out to investigate the effects of model parameters on the solution of the economic statistical design by using the design of experiments (DOE) technique.     

带缓和曲线的大偏角长大曲线 实用测设方法研究

带缓和曲线的大偏角长大曲线在实际测设中,为了避免由于曲线过长造成 的测设误差,通常采用双交点或多交点分段测设的方法进行测设.本文提出了一种 用双交点测设的实用、简便、快速的测设方法,并给出了计算示例.     

混杂SIFCON材料力学性能试验研究

ＳＩＦＣＯＮ 工艺是美国ＬＡＮＫＡＲＤ材料试验室发明的一种制作高含量钢纤维混凝土制品的方法。在基体中加入ＰＰ改性聚丙稀纤维,对混杂ＳＩＦＣＯＮ 工艺成型的高含量钢纤维混凝土进行了系列的材料力学性能试验研究。     

平面桁架在框架设计中的应用

耗能支撑框架是近年来出现的一种新型结构类型,具有良好的抗震性能。根据“强柱──中梁──弱腹杆”的设计原则,通过实际工程的应用分析,将平面杆系结构──桁架与框架相结合,解决了多层建筑中大空间问题。     

基于大数据的客户细分模型及精确营销策略研究

在移动互联网发展带动作用下,电信运营商主营业务已经由传统的语音业务逐渐向移动数据业务方向发展,在这种背景下,互联网企业同移动通讯业务之间的联系越来越紧密,电信运营商面临着被“管道化”的影响,基于此,对于电信运营商而言,当前最主要的任务就是提升产品质量和客户体验水平,满足电信客户多方面的需求,扩大用户范围,避免老客户的流失。而上述目标的实现都需要大数据技术应用的支撑。文章对基于大数据的客户细分模型以及精确营销策略进行深入的研究。