Table of Content

28 August 2001, Volume 9 Issue 4 Previous Issue    Next Issue

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Asymmetric Degree of Information and Manager’s Utility, Financial Structure, Market Value of a Firm QIN Xue-zhi, WU Chong-feng 2001, (4):  1-6.  Abstract ( 2126 )   PDF (1082KB) ( 2238 )   Save In this paper, we analyze the effects of asymmetric degree of information on the manager’s utility, the financial structure and the market value of a firm. The results show that, if the firm’s investment is high quality, as the decrease of the asymmetric degree of the information, the market value and the debt level of the firm’s investment increase. If the firm’s investment is low-quality, as the decrease of the asymmetric degree of information, the market value and the debt level of the firm’s investment decrease. The relationship between the change of the proportion of the outside informed investors and the change of manager’s utility is correlated with the quality of a firm. References | Related Articles | Metrics

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The Mechanism of CB Pricing and Designing in China YANG Da-Kai, DU Xin-le, LIU Qing-Sheng 2001, (4):  7-15.  Abstract ( 2291 )   PDF (1154KB) ( 3390 )   Save Convertible Bond(CB) is one of the few financial innovative products that have been introduced in China recently. It has advanced very dramatically these years. In this thesis the author tries to analyze the main characters of Chinese CBs. By applying the western theory of pricing warrant, the author exerts his utmost in a new perspective. References | Related Articles | Metrics

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An Antithesis of Multi-Items Constrained EOQ Model WAN Ke, YU Yu-gang 2001, (4):  16-24.  Abstract ( 2285 )   PDF (1784KB) ( 2130 )   Save The multi-items constrained EOQ model as described in numerous textbooks is based on unconstrained EOQ model subject to Kuhn-Tucker condition.We think that the solution from the model is not optimal in theory and practical in reality.This paper proves mathematically the theoretic errors of the current textbook model. References | Related Articles | Metrics

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The Study of Job Shop Scheduling with Alterable Craft Based on Hybrid Genetic Algorithms CHEN Wei-da, DA Qing-li 2001, (4):  25-29.  Abstract ( 1999 )   PDF (673KB) ( 2177 )   Save In this paper,we present a hybrid genetic algorithms.It integrates GAs with existing well done methods and algorithms,such as heuristic rules,simulated annealing algorithms etc.This method can solve the Job Shop scheduling that has alterable craft.In the end of this paper,this method is applied to simulating Integrated Circuit(IC) production process scheduling of a bipolar IC enterprise.The result proves that the method is effective and feasible. References | Related Articles | Metrics

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Research on DSS of Enterprise Based on Web and Data Warehouse LIU Yao 2001, (4):  30-35.  Abstract ( 2270 )   PDF (524KB) ( 2380 )   Save This paper tells an enterprise how to design and develop a new type DSS by Web and Data warehouse.It studies the means and technology of Web,the structure and main functions of the DSS.At last the paper has an instance on the design of the DSS. References | Related Articles | Metrics

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Research on Optimum Price Tactic of Mineral Resource Under Market Economic Condition YANG Yu-feng, WEI Xiao-ping 2001, (4):  36-40.  Abstract ( 2056 )   PDF (1102KB) ( 1787 )   Save The continuous use of mineral resources is the important composition part of sustainable development strategy, and it is also one of the key problems of sustainable development strategy. If no the sustainable use of mineral resources, sustainable development has no way of mention. It is well known that market price of mineral resources directly effects the sustainable mining of mineral resources. This paper establishes dynamic models, research on the optimum price strategy of mineral resources according to the supply demand relations under market economic condition, and offeres method and train of thought for the price of mineral resources. References | Related Articles | Metrics

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A Two-Stage Circular Model with Network Externality CAO Yun-jian, GAO Ru-xi 2001, (4):  41-46.  Abstract ( 2151 )   PDF (865KB) ( 2131 )   Save This paper analyzes a two-stage circular model with network externality.The existence of network externality makes firms decrease prices to gain more market shares.The subgame perfect Nash equilibrium shows that consumer surplus and social net welfare improve,and product differentiation moderates.Specially,with strong network externality,monopoly is the social net welfare maximization market structure. References | Related Articles | Metrics

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Analysis of Water Resource Problem in Chinese Economic Development WANG Zheng, FENG Hao-jie, XU Shi-yuan 2001, (4):  47-56.  Abstract ( 2252 )   PDF (1171KB) ( 2542 )   Save In 1994, World Watch, an American famous magazine publishe an article named "Who Will Feed China?" written by Lester R. Brown. In the paper Brown indicated that the irrigation land shortages will lead China forward so large a grain deficit that it can’t afford itself and need to import so many grains from the international market. In 1998, Brown issue another article "China’s Water Shortaes Could shake World Food Security". In article, Brown emphased that the most serious thing about Chinese grain deficit is, instead of land shortage, the shortages of irrigation water. With model analysis on inverse problem of linear programming problem, This paper gave a discussion about water problem of China, the result to that Chinese available water supply is not enough to implement the development the development target by 2000 but is not by 2010 and 2030, if we only take the two measures which are both increasing water use efficiency and improving wate supply. To solve the problem, every practical measure of water adding should be carried out and at the same time the industrial system need to be evolution to the level of Beijing’s at 1995. So that, China is able overcome water bottleneck in development. References | Related Articles | Metrics

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The Relationship Between Organization Internal Elements and Competitive Advantage XIE En, LI Yuan 2001, (4):  57-64.  Abstract ( 2351 )   PDF (865KB) ( 2670 )   Save Based on the past research about the acquirement of competitive advantage,this article analyses the relationship between the competitive advantage and three elements in the organization:Key Resources,Core competence and Organizational Learning,elaborates the different layers and mechanism of these three elements in the process of getting competitive advantage.By establishing a simple mathematical model,the article discusses the different efficiency of these three elements in establishing the competitive advantage and the relative advantage induced from core-competence owned by the organization and organizational learning. References | Related Articles | Metrics

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Studies on Organizational Learning:Process Model, Case,and Implementation Procedure CHEN Guo-quan, MA Meng 2001, (4):  65-74.  Abstract ( 2302 )   PDF (1005KB) ( 5403 )   Save A new organizational learning(OL)process model and related obstacles to OL have been put forward in this paper.Based on this theory,the case of Beijing Huaxiang Electronics Limited Corporation has been studied,the current status of OL has been analyzed and the suggestions to solve the obstacles put forward.Finally,a general implementation procedure of OL in enterprise has been established. References | Related Articles | Metrics

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The risk evaluation and control of risk investment XU Xian-ping 2001, (4):  75-80.  Abstract ( 2336 )   PDF (732KB) ( 4414 )   Save This paper analyses systematically the factors of risk investment,and establishes the system of risk investment evaluation indexes.It then on the basis discusses the problem about comprehension evaluation and optimal control of risk investment,and the paper presents integrated approaches on evaluation index construction,comprehension evaluation and optimal control. References | Related Articles | Metrics