上证30指数股市盈率实证分析

通过对2000年上证30指数股市盈率水平及其影响因素进行实证分析,可以发现,其中股息支付率、每股收益增长率、行业平均市盈率对股票P/E值起主要的解释作用,而股本规模因素,解释力却有限,除每股收益增长率外,各变量的相关性与理论分析基本一致.     

Health Risk,Inequality Indexes,and Environmental Justice

Inequality indexes have long been used to analyze distributions of income. Studies have recently begun to use these tools to evaluate the equity of distributions of environmental harm. In response, issues have been raised regarding the appropriateness of using income-based measures in the context of undesirable outcomes. We begin from first principles, identifying a theoretical preference structure under which income-based tools can be appropriate for ranking distributions of “bads.” While some critiques of existing applications are valid, they are not a justification for rejecting the approach altogether. Instead, we show how standard income-based measures can be adjusted to accommodate bad outcomes. Rather than inequality indexes, we argue that equally distributed equivalents (EDEs) are well-suited for this purpose since they account for levels and dispersion of outcome distributions. The Kolm–Pollak EDE is particularly useful, having the advantage of consistently evaluating both bads and their complementary goods (e.g., mortality risk and survival probability). As an illustration, we show how these tools can inform an environmental justice analysis of a proposed Environmental Protection Agency (EPA) rule addressing indoor air pollution.     

商品金融化背景下大宗商品指数收益机制转换

基于虚拟变量Markov机制转换模型,选取具有代表性的国际商品指数-标普高盛商品指数(S&P GSCI)及道琼斯大宗商品指数(DJCI)为研究对象,探寻大宗商品指数收益率机制转换出现的规律与诱因.实证结果表明:修正后的模型能较好地反映大宗商品指数收益率波动性呈现出的“中-高-中高-低-中”的阶段性变化,在阶段变换的拐点处商品指数呈现出具有转折意义的“V”形走势;金融危机前后的流动性冲击改变机制转化的概率.研究结果可以为预测大宗商品市场走势及阶段性转折点提供参考.     

An alternative method for global and partial comparison of two diagnostic systems based on ROC curves

In this paper, an alternative method for the comparison of two diagnostic systems based on receiver operating characteristic (ROC) curves is presented. ROC curve analysis is often used as a statistical tool for the evaluation of diagnostic systems. However, in general, the comparison of ROC curves is not straightforward, in particular, when they cross each other. A similar difficulty is also observed in the multi-objective optimization field where sets of solutions defining fronts must be compared with a multi-dimensional space. Thus, the proposed methodology is based on a procedure used to compare the performance of distinct multi-objective optimization algorithms. In general, methods based on the area under the ROC curves are not sensitive to the existence of crossing points between the curves. The new approach can deal with this situation and also allows the comparison of partial portions of ROC curves according to particular values of sensitivity and specificity of practical interest. Simulations results are presented. For illustration purposes, considering real data from newborns with very low birthweight, the new method was applied in order to discriminate the better index for evaluating the risk of death.     

我国股票市场指数及指数证券投资组合

运用主成分分析法分析我国上海和深圳两个交易所几个市场指数对市场变化的反应情 况, 结果表明两个股票市场的综合指数和A 股指数可以反应市场的变化, 而其他指数不能反 映各自代表的股票市场变化. 由于这4 个指数都不是一个好的投资组合, 要得到与指数一致的 投资收益需要构造指数投资组合. 本文利用多因子定价模型, 结合统计分析和优化方法, 从每 个股票市场上选取20 余支股票, 经过适当的组合就可以得到与指数一致的收益.     

膨润土常用性能指标的测定分析方法

本文对膨润土常用性能指标的分析测试方法作了系统介绍,主要包括吸兰量、胶质价、活性度、游离酸、脱色率、水分、粒度等的测定方法。     

财务评价在项目评估中的作用

财务评价是在国家现行财税制度和价格体系的条件下 ,通过一系列报表计算出评价指标 ,用以考核建设项目财务上是否可行的一种科学而行之有效的方法 ,本文讨论了它在建设项目评估中的作用     

企业内部经营业绩评价系统的建立

本文从企业内部经营业绩评价系统的概念和特点出发 ,论述了企业建立内部经营业绩评价系统的意义。在此基础上 ,从建立业绩评价部门、审视或建立企业的战略目标、分解企业的战略目标、分析评价对象的地位和责任、建立评价指标、建立评价标准、建立业绩报酬制度和分析业绩差异八个方面论述了企业建立内部经营业绩评价系统的方法和步骤     

矿井掘进工作面安全评价的灰色聚类方法

本文用灰色聚类方法[1]讨论了煤矿掘进工作面安全评价问题,提出了一种新的安全评价方法─灰色聚类综合法。同时,本文对灰色聚类的算法作了改进,改进后的算法便于记忆和应用。