Abstract:We present some shortcomings about the traditional models evaluating the timing ability of mutual fund managers and propose a new model to evaluate the mutual fund managers’timing ability to tendancy change. Using this model and net asset value data , we can perceive whether the mutual fund managers can predict the future mov2 ing direction of the market when it experiences a significant tendancy change. Monte Carlo simulations indicate that our model does fulfill its task while other traditional models such as Treynor-Mazuy model and Henrikson2Merton model fail . Applying our approach to empirical study of the Chinese mutual funds , we get some interesting facts about the Chinese mutual fund managers

Abstract:Economic globalization has caught the high attention of all nations worldwide. It is a research focus to forecast the trend of economic globalization. Many researchers measure the degree of globalization with the indexes2 dependence on foreign trade and foreign capital . These indexes do not embody the essential of globalization. In view of the deficiency , we build the index of GDP linkage to analyze the process and trend of globalization. Furthermore , with this index , we finished the empirical analysis. Finally , we conclude : 1) the regionalization is the major ten2 dency around the world ; 2) the degree of among all economic regions is weakened so far.

Abstract:This paper constructed a new method —Gernenalized ridge partial least2squares regression (GRPLS) . It can not only effectively eliminate the multi2collinearity among the factors and overcome the shortcoming of the tradi2 tional methods , but also makes the model more steady and more strong to predict and analysis. Then , the GRPLS is applied to analysis the impact factors of economic growth on China. The conclusion can offer beneficial advice to work out steady and quickly increasing economic polices in China.

Abstract:Based on setting up the mathematic models of the cost sharing problems , the axiomatic systemof the het2 erogeneous cost sharing model is put forward. The axiomatic characters of heterogeneous cost sharing methods fall in2 to three categories : the basic characters , the general characters and the special characters. The necessity of invari2 ance of output scale , demand monotonicity , proportionality and upper bound is discussed by studying some cases. The characters of four typical heterogeneous cost sharing methods —the EANS method , the Aumann2Shapley pricing , the Friedman2Moulin serial cost pricing and the Shapley2Shubik method —are proven

Abstract:The real options are enlargement of the financial options. Its essence is object item investment and policy decision of management . In this paper real options investor and value function of operator are described. The opti2 mization investment policy decision of the real options has been analyzed under different information conditions. The operator of real options hides the item value information under asymmetry information. It is a principal-agent prob2 lem having the converse selection. This paper designed that objective function is taken at the biggest mathematical expectation value of investment profit . The optimization control of the state equation is taken at the investment and quantity discount . Using maximal principle the found solution scheme of the real options optimization investment and the quantity discount has been derived. Finally , the emulation experiment in the real options optimization invest2 ment was made. The analysis result of real options in the item investment problem is verified.

Abstract:The monopolist’s right of adjusting the price of its products is ignored by many lectures studying monopo2 listic pricing. The right is actually equivalent to a real option. Based on this , we apply real option approach to de2 termine the value of price2adjusting option in an increasing market . Furthermore , monopolistic pricing is studied ; the condition of firm value maximization is also given. The results show that , whether the price2adjusting option can be ignored is decided by the demand of monopolistic products ; marginal revenue is no longer equal to marginal cost except some special cases when pricing2adjusting option is considered.

Abstract:Analyzing the main factors of interconnection of telecom industry is the aim of this paper. A model is built to calculate the benefit from interconnection distributing in different telecom firms , and analyzed the incentive mechanism through game theory. It is concluded that the scale ratio between competitor and monopoly , policy of ac2 cess cost , discount rate and punish of refusing interconnection are the main factors affecting interconnection , and adjusting these factors may get both-win interconnection. According to real condition in China , the paper give the policy advice

Abstract:ISPs with different bandwidths should have different pricing strategies. This paper analyzes a pricing game between two ISPs with different bandwidths , considering consumers with different unit time costs. We get the ISP’s first-mover advantage through comparing static and dynamic Nash equilibrium prices and incomes. We also get the conclusion that the progress of technology will benefit ISP with broad bandwidth. Then , by analyzing optimal pricing of price alliance , we get the incentive of forming a price alliance and a conclusion that low bandwidth ISP will be cleared out from the market . Finally , comparison of social welfare before and after price alliance forming is presented to point out that this type of alliance may decrease total social welfare.

Abstract:This paper introduces a demand function with quality parameter and consumer’s quality preference pa2 rameter from the point of product differentiation , and analyses the causes that the merger of firms of complementary products can improve the quality of the composite of complementary products. It also analyses the incentives of merg2 ing firms with complementary products and the market changes after the merger. A conclusion is drawn that under certain quality condition , firms with complementary products have the incentive to merge , which can explain mergers of firms of complementary products in nowadays merging wave.

Abstract:This article studies the network organization of service industries under the condition of uncertainty. The post2sale service industry has already transforming into network organizations in some eastern Chinese big cities. The business is with uncertainty , so in this article we build Poisson type model to analysis the network organization ac2 cording to the characteristics of the market . We conclude from the model that the efficiency improvement of network organization mainly embodies in two aspects : 1) the scale economy of assets and management , and 2) complemen2 tary effect of personnel under conditions of uncertainty

Abstract:According to the analysis of the characters of perishable hi-tech products in their life cycle of declining period , this paper presents a solution to deal with pricing of perishable hi-tech products in their life cycle of declin2 ing period in view of the idea of revenue management so as to increase the revenue. A basic point of view to solve the problem with a revenue management model is put forward , based on which several arithmetical examples are giv2 en to demonstrate the advantage of the notion of revenue management applied in tackling perishable hi-tech products in their life cycle of declining period. Thus , a conclusion is reached that the profit of perishable hi-tech products can be increased by means of revenue management technology , and an interesting research inclination of pricing and manufacturing strategy of perishable hi-tech products in their declining period is pointed out .

Abstract:Hotel is one of the most important research and application area of revenue management , and the goal of hotel revenue management is to achieve maximum room revenue through the better management of the room rates for different segments of customers. In this paper , the concept of hotel revenue management is discussed , and the ap2 plication characters of hotel revenue management are introduced in six aspects , then its common research methods are summarized and analyzed. Based on the research overviewof hotel revenue management , including demand fore2 casting , overbooking , room allocation control and pricing , the prospects of hotel revenue management are presented

Abstract:This paper examines the relative influences of brand , price and country of origin on consumers’purchase choices by using a conjoint analysis experiment . Two distinct groups are identified. The driving force to make pur2 chase choice for one group is brand recognition and for another group it is price. Contrary to intuition , for the later group of respondents , higher prices are more favorably evaluated , suggesting evidence that respondents utilize price as a surrogate for inferring product quality. Finally , profiles of the two respondent groups are compared , and the im2 plications of the findings are discussed.

Abstract:Management information systems (MIS) is a relatively new discipline with a history of only a few decades. This short article briefly introduces and discusses the background , core courses , mainstreams of research , and major international conferences and journals of this new field , with the aimof providing some initial suggestions to MIS scholars in China so that they could publish more quality MIS research papers in international MIS journals and develop more first2class MIS programs in Chinese universities.