Table of Content

28 April 2001, Volume 9 Issue 2 Previous Issue    Next Issue

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Research on Formation Environment of Secondary Board Market ZHOU Nai-min, DU Yu-chen 2001, (2):  1-9.  Abstract ( 2177 )   PDF (2069KB) ( 1432 )   Save With establishing the second board market of our country round the corner, it seems increasingly important for us to study the formation environment of second board market. The final aim to study formation environment of second board market is to extract the necessary formation conditions from complicated formation environment of it. In this paper, we begin with defining “formation environment of second board market", then analyze histories of formation of second board market in several countries by both horizontal and vertical angles. The kernel of the paper is originally bringing about the use of systematic analysis to help study of the formation environment of second board market, in such a way we find a method, which can evaluate formation environment in quantity. In the last part, we try to evaluate the formation environment of our country by use of this method. References | Related Articles | Metrics

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Approaching Mathematical Logic of the Option Pricing Principles CHEN Zhan-feng, ZHANG Ke 2001, (2):  10-15.  Abstract ( 2015 )   PDF (1847KB) ( 2250 )   Save A detailed investigation into the option pricing process is presented in this paper from the angle of mathematical deduction. Every deductive reasoning procedure in both stochastic partial differential equation approach and probabilistic approach are described. The paper also reveals generally that how the mathematical techniques are applied to modern financial theories, especially to the valuation of derivatives. The author take European call option as the example, dissecting the conventional assumptions in Black-Scholes formulation. References | Related Articles | Metrics

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Information Asymetry: Optimal Enforcement of Stock Market insider Trading Regulation XIA Jun 2001, (2):  16-21.  Abstract ( 2366 )   PDF (1596KB) ( 1974 )   Save Insider trading leads to low efficiency of resources allocation in stock market, and insider trading regulation can lessen market maker’s adverse selection problem. Enforcement of insider trading regulation involves regulation cost, thereby optimal enforcement is to make a trade-off between regulation revenue and cost. This paper tries to explore the optimization problem of enforcement policy under the assumption that the regulator’s goal is to maximize the expected utility of uninformed investors who trade because of portfolio consideration. References | Related Articles | Metrics

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A New Method for Venturous Capital Pricing LIU Si-feng, ZHAO Liang, WANG Zhao-ying, LIN Yi 2001, (2):  22-26.  Abstract ( 2004 )   PDF (1656KB) ( 2158 )   Save A new venturous capital pricing method, the synthetic utility index method, which is based on the whitenization weight function of grey numbers and the capital assets pricing model (CAPM), is put forward in this paper. The new method has overcomed the shortcomings of the Expectation-Variance Method and Sharpe’s Index Method, and avoids the inconvenience of constructing utility function to a certain extent as well. References | Related Articles | Metrics

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The Measuring Method of The Risk Investment Based On Nonnormal Distribution WU Kai-wei 2001, (2):  27-30.  Abstract ( 2315 )   PDF (891KB) ( 1823 )   Save In This paper, through calculating the risky poit, the author analyses the risk of investment project, introduces equivalent normal method, solves the problem of measure for nonnormal distribution independent variable, and proposes a new method for the risk measure of investment project. References | Related Articles | Metrics

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Total Conceiving for State Capital Management in Investment on Fixed Assets Project LIAN Jun, WANG Kui-lan, WU Yu-hua 2001, (2):  31-35.  Abstract ( 2092 )   PDF (624KB) ( 2157 )   Save The innovation about management of state capital in investment on fixed assets project is the main tendency and important content. This thesis makes a tentative probing about the innovation of the principle, target, object, content and method. In general, it comes up with the total conceiving for state capital management in investment on fixed assets project. References | Related Articles | Metrics

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A Programming Model for Multi-products Producing Decision Based on ABC REN Yang, LIU Huan-jun, CHEN Liang-you 2001, (2):  36-42.  Abstract ( 2188 )   PDF (1207KB) ( 1644 )   Save With the fundamental changes of manufacturing environment,activity-based costing(ABC)and therefore activity-based management(ABM)have been developed,which increase enterprise’s competitiveness greatly A programming model and its dual model for multi-products producing decision based on ABC is constructed in this paperThe information from the dual model is also presented for management References | Related Articles | Metrics

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The Study of Decision Model for the Position Type Seletion of Surface to Air Missile Troops HAN Xiao-ming, YANG Jian-jun 2001, (2):  43-48.  Abstract ( 2175 )   PDF (1237KB) ( 2007 )   Save According to characteristics of the position type selection of surface to air missile troops, the evaluation factor target system of the position type selection is presented. A two-stage fuzzy combined evaluation model for the position type selection is established, by mean of the theory and methodology of fuzzy mathematics. The computing method of the weight factor on the evaluation factors is discussed, based on the Analytic Hierarhy Process(AHP). Finally, the design method about the software of the position type selection fuzzy decision is introduced simply. References | Related Articles | Metrics

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Technology Investment Game in Network Competition LIANG Jing, YU Li-wei 2001, (2):  49-52.  Abstract ( 2224 )   PDF (1033KB) ( 1911 )   Save Network economy is changing the rules of technology competition This article discussed the network competition influences to technology investment,pointed out enterprises should set up technical alliance so as to suit the need of network competition References | Related Articles | Metrics

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General Interaction Programming and Bileve Programming MA Jian-hua, LIU Jia-zhuang 2001, (2):  53-57.  Abstract ( 2697 )   PDF (967KB) ( 2098 )   Save Tow Bileve programming models are given from a general interaction programming, then the relation between them is given. At the end we discuss interactive bileve programming. References | Related Articles | Metrics

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The Research on Evaluation Performance of an Enterprise Based on Orientation of Development ZHANG Qing 2001, (2):  58-64.  Abstract ( 2208 )   PDF (1124KB) ( 2781 )   Save A theory and method about the evaluation performance of an enterprise based on orientation of development have been firstly put forward to meet the need of market economy in this paper. The necessity of the theory and method has been analyzed from the angle of the development of the theory on enterprise evaluation and the need of the practice, and then, the enterprise of coal mining is taken as an example, the index system on the evaluation performance has been set up from quantity, competitiveness, effectiveness and riskiness of its development. As coal mining enterprise development depends on their natural condition, and the different advantage on “resource” and “position” results in the differential in their input and output, so the present of evaluation standard which must be on the basis of the enterprises have been classified. The evaluation standards of each index have been determined using different method according to the principle of science, encouragement, dynamicalness, estimability and their characteristics. Finally, a synthesis evaluation model on development performance has been built. References | Related Articles | Metrics

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An Analysis of Government Involvement in Corporate Governance Mechanisms XIANG Rui, CHAO Guo-hua, YANG Xiu-tai 2001, (2):  65-70.  Abstract ( 2143 )   PDF (1193KB) ( 1764 )   Save In this paper,the model has been constructed corresponding to the present situation of corporate governance mechanisms in ChinaWith game theory,it is proved that the efficiency in corporate operation will be affected seriously by the governance mechanism in which the Government is involved excessivelyWe consider that the Government should withdraw State-owned property from industries as soon as possible and it should be a most urgent task at present to eliminate barriers of property rights in reformed state-owned enterprises References | Related Articles | Metrics

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Analysis for Dynamic Regression Model of Tax Growth CHENG Mao-lin 2001, (2):  71-74.  Abstract ( 2121 )   PDF (1175KB) ( 2428 )   Save This paper gives the methods of dynamic linear regression and dynamic nonlinear regression of tax growth, and analyzes the relation between tax growth and gross domestic product. References | Related Articles | Metrics

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Human Performance Technology and Its Application in Business ZHANG Ding-kun 2001, (2):  75-80.  Abstract ( 2343 )   PDF (800KB) ( 2438 )   Save As a new field,HPT(Human Performance Technology)has been paid more and more attentionBut it was paid little notice at homeThis paper gave a comprehensive discussion about the conception and the basic theory of HPTAn applied model about HPT was introduced and its applications in organizations,particularly in business,were discussed in the paper. References | Related Articles | Metrics