Abstract:In th is paper, f rom the idea of common t rend, w e pu t fo rw ard the def in it ion of co2persis2 tence in vo lat ility of vecto r SV model, and estab lish the equ ivalen t relat ion sh ip betw een common per2 sistence in vo lat ility and co in tegrat ion. M eanw h ile, w e give two rep resen tat ion s of common persisten t facto rs under the Stock2Wo t son and Gonzalo2Granger facto r decompo sit ion s, and verify the ex istence of co in tegrat ion betw een these two rep resen tat ion s. Mo reover, under the unob served variab les to be VAR (1) , the rep resen tat ion of co2persistence facto rs is p resen ted, and necessary condit ion s of ex ist2 ing co2persistence facto rs are also studied.

Abstract:By in t roducing t rade vo lum e to po rtfo lio select ion model, th is paper ob tain s an analyt ic fo rm u la of a new eff icien t f ron t ier. It p roves the relat ion betw een new eff icien t f ron t ier and eff icien t f ron t ier neglect ing t rade vo lum e, and m akes an analysisw ith sub stan t ial evidence th rough the data of Shenzhen StockM arket and verif ies th is relat ion p relim inarily.

Abstract:W ith the app roach of p rincipal componen t analysis, the m ain indexes are studied to deter2 m ine if they can ref lect the stock m arket change of the Shanghai Stock Exchange o r the Shenzhen Stock Exchange. The resu lt s indicate that the two compo site indexes and two A 2share indexes can accu rately ref lect them arket changes, and o ther indexes are no t so good in th is funct ion. Becau se all the fou r indexes are no t good investm en t po rtfo lio s, w e need to m ake index ing po rtfo lio s to t rack them. W ith the theo ry of A PT and the app roaches of stat ist ics and op t im izat ion, w e choo se p rincipal componen t s as facto rs, m ake the facto r loadings of t rack ing po rtfo lio s the sam e as the indexes, and then let the sum of squared differences of residualsm in im ized in the samp le period to ob tain the w eigh t of each stock in the po rtfo lio. A bou t 20 stock s are selected f rom every m arket to ob tain the t rack ing po rtfo lio w ith specif ied w eigh t. The index ing po rtfo lio s have almo st the sam e retu rn s as the indexes bo th in the samp le period and af ter samp le period ( th ree mon th s) .

Abstract:W ith a self2comp iled quest ionnarie, th is research aim s to discuss the w ay in w h ich investo rs select stock s to invest and to ident ify w hether there are different catego ries of investo rsw ho focus on different aspect s of info rmat ion in select ing stock s. The resu lt s reveal that in select ing stock s, investo rs generally focus on the t rend of the market and the move of the masters, considering o ther info rmat ion as w ell. Then, acco rding to the po ssible facto rs influncing the stock select ion, all the investo rs are catego rized into th ree k inds by cluster analy2 sis: A nalyt ical ones, confo rmable ones and synthet ic ones. A lso, based on the resu lt of classificat ion,w e estab2 lish two funct ions to discrim inate the catego ries of the investo rs.

Abstract:Th is paper studies the effect of p roduct s value st ructu re and t im e co st of cap ital on the cho ices of supp ly chain po stponem en t st rategy. A t f irst, the def in it ion of t im e co st of cap ital and the type of po stponem en t st rategy are given, and the types of p roduct s, acco rding to the p roduct value st ructu re, are differen t iated. O n the basis of differen t type of po stponem en t st rategy, the p roduct co st models w ith the facto r of t im e co st and w ithou t are p ropo sed. Based on these models, the effect of t im e co st on the cho ices of po stponem en t st rategy is analyzed, and the co rresponding p roper po st2 ponem en t st rategy is cho sen. By the conclu sion s of th is paper, the co rpo rat ion can exp lo it po stpone2 m en t st rategy to reduce the co st and st rengthen the compet it ivenessmo re eff icien t and effect ive.

Abstract:Con sidering the ex istence of co rpo rate incom e tax, w e analyze the decision2m ak ing of co r2 po rate bank rup tcy and deb t reo rgan izat ion in a risk2neu t ral f ram ewo rk, w h ile co rpo rate defau lt is en2 dogenou sly determ ined by m ax im izing the value of equ ity claim s. W ith standard deb t con t ract and un2 der ab so lu te p rio rity ru le, th is u sually leads a levered f irm to be early o r lately liqu idated w ith lo ss of value. Bu t if the st rategic defau lt o r deviat ion f rom ab so lu te p rio rity ru le is allow ed, the decision that m ax im izes value of equ ity w ill be con sisten t w ith one that m ax im izes co rpo rate value. In th is paper, w e demon st rate that deb t reo rgan izat ion o r credito r’s concession essen t ially enhances them arket value of the deb t, as it enab les credito rs o r deb to rs to avo id ill2t im ed liqu idat ion.

Abstract:Based on the com b inat ion of o rgan izat ion theo ry and m u lt i2in telligen t agen t techno logy, a new app roach of comp lex info rm at ion system developm en t is p ropo sed in th is paper. F irst ly, a comp lex info rm at ion system is taken as a m u lt i2agen t system , the characterist ics of the system is analyzed, and a model ofm u lt i2agen t o rgan izat ion is bu ilt to describe them acro2st ructu re of the system and to def ine the funct ion dem ands. Secondly,w ith the rest rict ion of the techno logy and resou rces,w e determ ine the o rgan izat ion funct ion s fo r differen t agen t s and their respon sib ilit ies acco rdingly. Th irdly, based on the o rgan izat ion model,w e design the concep tualmodels fo r each agen t by "belief2desire2in ten t ion" (BD I) st ructu re. These models serve as the operat ive developm en t app roaches to realize the info rm at ion sys2 tem on compu ter. F inally,w e develop a p ro tocal system on a cooperat ion wo rk ing p latfo rm (MBO S) based on the concep tualmodels.

Abstract:Exp lo it ing and learn ing ex ternal techno logy and m anagem en t experience is mo st pow erfu l w ay of develop ing and imp roving IT p ro ject. Th is paper app lies two2stage gam e in to analyzing the p rocesses of IT ou t sou rcing, and discu sses the effect s of IT cap ital, investm en t and labo r resou rce on IT p ro ject’s p roperty righ t. Th is paper suggest s that the impo rtance of all inpu t s shou ld be analyzed and so rted in the p rocesses of choo sing the st ructu re of p roperty righ t and the o rgan izat ion of IT p ro2 ject, and that negat ive effect of inpu t s igno red show ld be con t ro lled. Especially, the m anagem en t and stab ility of hum an resou rce show ld be of great concern. Th is paper fu rther suggest s that any invest2 m en t of part icipan t sm u st be on the f ields in w h ich they specialize. F inally, w e p rove that any p roper2 ty righ t st ructu re of IT p ro ject w ill cau se under2investm en t in specialized f ields, and that themo st fea2 sib le st ructu re of p roperty righ t is the comparat ive resu lt ofm any st ructu res. The key p rob lem is how to imp rove m arginal u t ility of investm en t.

Abstract:In the paper, the p rocess of ERP evo lu t ion is sho rt ly review ed, the concep t of "virtual en2 terp rise" is given, and it s relat ion sh ip w ith ERP sof tw are is discu ssed. The in ternal relat ion sh ip be2 tw een the p rocessmodel in ERP model and BPR concep t is po in ted ou t. The p rocess of "virtual en ter2 p rise" st ructu re evo lu t ion is exp lained, and it s effect on the info rm at ion system study in fo llow ing ar2 eas is analyzed: the study on the theo ret icalmodelw h ich is independen t to the actual en terp rise one, the w ay to bu ild op t im ized wo rkf low , even en terp rise st ructu re, the change of t radit ional info rm at ion system developm en t- no t ju st au tom at ing it s o riginal p rocess, the imp rovem en t of imp lem en t ing style - emphasizing mo re on the theo ry model effect on m anagem en t and en terp rise st ructu re. F inally the evo lu t ion p rocess of "virtual en terp rise" is con sidered as a examp le fo r the today’s sof t science study.

Abstract:A model of know ledge2based o rgan izat ion compet it ive st rategy is p resen ted in th is paper. In sect ion one, w e def ine an o rgan izat ional know ledge space f irst ly. O rgan izat ional know ledge is a comp lex、open and self2o rgan izing system , so w e def ine an o rgan izat ional know ledge space f rom such dim en sion s as layer、con ten t and appearance to iden t ify o rgan izat ional know ledge bet ter. W e discern almo st all k inds of know ledge in en terp rise and list them in fo rm. In sect ion two, w e begin w ith know ledge st rategy analysis. By decompo sing th ree k inds of typ ical funct ional know ledge p rocess and adap t ing an imp roved w ay to assess know ledge capab ility, w e can evaluate know ledge2based o rgan iza2 t ion capab ility space in compet it ion. A s an examp le, the funct ional know ledge on m anufactu ring is di2 vided and evaluated to illu st rate th ism ethod in detail. A t last, th is paper gives som e compet it ive tac2 t ics on know ledge m anagem en t acco rding to differen t know ledge capab ility space

Abstract:In th is paper, a m u lt i2m anufactu rer2m u lt i2dist ribu to r system is studied. By syn thesizing inven to ry co st, o rdering co st, t ran sit co st asw ell as sho rtage co st, a comp rehen sive co stmodel of dist ribu te system s is estab lished under the rest rict ion of service level, on w h ich the dist ribu to r sat isf ies the m arket. Hence, the co st m in im izat ion p rob lem is so lved, and the op t im al o rdering quan t it ies are calcu lated fo r the afo rem en t ioned scenario s. Fu rthermo re, sim u lat ion resu lt s of the co st model on the p ricing param eter and the o rdering rate param eter are p ropo sed. In detail, the to tal co st w ill decrease relat ively fast w hen the p ricing param eter, b, decreases. The geograph ic characterist ic of the dist ribu te system w ill inf luence the op t im al o rdering rate betw een the supp liers. The op t im al o rdering rate is a m edium num ber, rather than the b iggest o r the sm allest.

Abstract:The ob ject ive of th is paper is to generalize the Cou rno t model w ith two f irm s to general dynam ic Cou rno t modelw ith f irm smo re than two. Given the m athem at ical fo rm u la of the general dy2 nam ic Cou rno t model, it is p roved that the equ ilib rium so lu t ion of th is model alw ays ex ist s, and fu r2 thermo re, the fo rm u la of the equ ilib rium so lu t ion is ob tained. These resu lt s give con t ribu t ion s to the theo ry of Cou rno t model