引入风险价值约束的投资组合理论

风险价值(VaR)是近年来最为流行的风险管理工具．本文在无风险证券情形下，将VaR约束引入到传统的均值一方差投资组合理论中，考察了此时投资组合的有效前沿以及投资组合选择的变化，并指出了VaR约束对证券投资基金组合管理的意义．     

基金绩效评估模型及其在中国的应用

证券投资基金业绩评估是当今西方国家证券界非常时兴的一项工作.它主要包括评估与比较不同投资基金的投资表现,正确评价投资基金的回报及其承担的风险,并根据评估结果对投资基金进行业绩排序,投资基金业绩评估是评价投资基金管理人运作绩效并据以派发管理酬劳的依据,也是投资者     

证券投资基金绩效评估的模型与方法

对投资基金绩效评估理论研究的进展进行了系统的分析．从静态评估模型、动态评估模型和相关理论研究3个方面对证券投资基金绩效评估理论进行研究．综述了国内外基金绩效评估的现状并给出了证券投资基金评估理论的发展趋势．     

我国证券投资基金净值业绩与价格业绩特征的实证比较分析

分别采用基金的股价和净值计算基金的收益率,运用风险调整指数等国内外比较公认的绩效评估方法对我国证券投资基金进行了全面的实证研究和比较分析.结果表明,用净值计算的基金收益普遍优于同期市场基准组合收益,与基金股价计算的收益背离严重;对基金投资能力、基金经理选股能力和择时能力的实证分析得出了与价格法下基本对立的结论.     

证券投资基金中委托代理关系的风险研究

讨论了证券投资基金中投资人和基金管理人在委托代理关系中存在的风险问题，给出了考虑投资总收益作为单一可观测变量的委托代理模型，并进行了风险分析，提出了证券投资基金中风险防范的一些措施．     

VaR及投资灵敏度分析

VaR是一种处理非线性问题、概括证券组合市场风险量化的工具,它解决了传统风险定量化工具对于非线性的衍生金融资产适用性差、难以概括证券组合的市场风险缺点,有利于测量和管理金融风险.通过简要介绍VaR的概念、性质及特点的基础上,对VaR关于投资组合的灵敏度进行了深入分析,给出了VaR关于投资组合一阶、二阶导数的解析表达式,进而说明了VaR的凸性利用.     

风险资产组合均值-CVaR模型的算法分析

CVaR是指损失超过VaR的条件均值,反映了损失超过VaR时可能遭受的平均损失水平,它克服了VaR的非一致性、非凸性等不足.本文基于CVaR风险计量技术,分析了风险证券的投资收益率在服从正态分布下的风险资产组合均值-CVaR模型,给出了该风险资产组合有解的条件,以及在该条件满足下,最小均值-CVaR组合的投资比例解析形式和最小值.     

风险估值在沪深股市风险测量中的应用研究

以中国沪、深股市的风险测量为研究对象,收集了近5年的沪深股市每日指数收盘价;运用风险估值(VaR)常用的方差-协方差法和历史模拟法,通过对单一金融产品和资产组合的风险测量,论证了利用VaR技术计算股市风险的可行性.与传统的风险测量方法相比,方差-协方差法和历史模拟法在精确量化投资风险方面具有简捷易行的显著优势.利用指数加权移动平均方法考察了VaR对股市收益率波动性的描述能力,结果表明VaR计算值基本涵盖了绝大部分交易日的损失,有效降低了"幽灵效应",并且捕捉了波动的聚集性.从资产组合的VaR小于单个金融产品的VaR的结果看,VaR技术在股市风险测量上符合现代投资组合理论的基本思想.     

我国证券投资基金市场存在问题及对策

证券投资基金是证券市场中重要的投资力量，是证券市场稳定和发展的基石，也是证券市场主要投资品种之一。随着我国经济的发展，企业筹资对证券市场的依赖性将日趋增强，证券投资基金在我国证券市场的作用将日趋增大。本通过我国证券投资基金与发达国家比较分析，提出我国证券投资基金存在的问题和差距，以及解决问题的对策。     

封闭式基金持有人的投资回报分析

分析了封闭式证券投资基金持有人的投资回报形式及其水平,并根据封闭式基金持有人的投资行为,探讨封闭式基金两种投资模式的收益评估问题.分析表明,封闭式基金不仅可以满足风险厌恶者的投资需求,而且在出现高折价率的情况时,也将提供无风险收益.     

Markedness and its Interpretation in Language Use

Language markedness is a common phenomenon in languages, and is reflected from hearing, vision and sense, i.e. the variation in the three aspects such as phonology, morphology and semantics. This paper focuses on the interpretation of markedness in language use following the three perspectives, i.e. pragmatic interpretation, psychological interpretation and cognitive interpretation, with an aim to define the function of markedness.     

Lower Paleozoic oil relationships within Williston Basin, Canada

The Williston Basin is a significant petroleum province, containing oil production zones that include the Middle Cambrian to Lower Ordovician, Upper Ordovician, Middle Devonian, Upper Devonian and Mississippian and within the Jurassic and Cretaceous. The oils of the Williston Basin exhibit a wide range of geochemical characteristics defined as "oil families", although the geochemical signature of the Cambrian Deadwood Formation and Lower Ordovician Winnipeg reservoired oils does not match any "oil family". Despite their close stratigraphic proximity, it is evident that the oils of the Lower Palaeozoic within the Williston Basin are distinct. This suggests the presence of a new "oil family" within the Williston Basin. Diagnostic geochemical signatures occur in the gasoline range chromatograms, within saturate fraction gas chromatograms and biomarker fingerprints. However, some of the established criteria and cross-plots that are currently used to segregate oils into distinct genetic families within the basin do not always meet with success, particularly when applied to the Lower Palaeozoic oils of the Deadwood and Winnipeg Formation.     

An Analysis of Catherine＇s Character——Wuthering Heights

Wuthering Heights, Emily Bronte＇s only novel, was published in December of 1847 under the pseudonym Ellis Bell. The book did not gain immediate success, but it is now thought one of the finest novels in the English language. Catherine is the key character of this masterpiece, because everybody and everything center on her though she had a short life. We can understand this masterpiece better if we know Catherine well.     

Features of Women's language

Language is a means of verbal communication. People use language to communicate with each other. In the society, no two speakers are exactly alike in the way of speaking. Some differences are due to age, gender, statue and personality. Above all, gender is one of the obvious reasons. The writer of this paper tries to describe the features of women＇s language from these perspectives： pronunciation, intonation, diction, subjects, grammar and discourse. From the discussion of the features of women＇s language, more attention should be paid to language use in social context. What＇s more, the linguistic phenomena in a speaking community can be understood more thoroughly.     

Characterization of Ordovician carbonate reservoirs, southeastern Saskatchewan, Canada

The discovery of the prolific Ordovician Red River reservoirs in 1995 in southeastern Saskatchewan was the catalyst for extensive exploration activity which resulted in the discovery of more than 15 new Red River pools. The best yields of Red River production to date have been from dolomite reservoirs. Understanding the processes of dolomitization is, therefore, crucial for the prediction of the connectivity, spatial distribution and heterogeneity of dolomite reservoirs.The Red River reservoirs in the Midale area consist of 3～4 thin dolomitized zones, with a total thickness of about 20 m, which occur at the top of the Yeoman Formation. Two types of replacement dolomite were recognized in the Red River reservoir: dolomitized burrow infills and dolomitized host matrix. The spatial distribution of dolomite suggests that burrowing organisms played an important role in facilitating the fluid flow in the backfilled sediments. This resulted in penecontemporaneous dolomitization of burrow infills by normal seawater. The dolomite in the host matrix is interpreted as having occurred at shallow burial by evaporitic seawater during precipitation of Lake Almar anhydrite that immediately overlies the Yeoman Formation. However, the low δ18O values of dolomited burrow infills (-5.9‰～ -7.8‰, PDB) and matrix dolomites (-6.6‰～ -8.1‰, avg. -7.4‰ PDB) compared to the estimated values for the late Ordovician marine dolomite could be attributed to modification and alteration of dolomite at higher temperatures during deeper burial, which could also be responsible for its 87Sr/86Sr ratios (0.7084～0.7088) that are higher than suggested for the late Ordovician seawaters (0.7078～0.7080). The trace amounts of saddle dolomite cement in the Red River carbonates are probably related to "cannibalization" of earlier replacement dolomite during the chemical compaction.     

Design and analysis of generic LBS application developing platform

Location based services is promising due to its novel working style and contents.A software platform is proposed to provide application programs of typical location based services and support new applications developing efficiently. The analysis shows that this scheme is easy implemented, low cost and adapt to all kinds of mobile nework system.     

橡胶颗粒沥青混合料低温抗裂性试验研究

以AC-13级配为基础,将橡胶颗粒代替部分集料掺入混合料中,以低温弯曲试验为评价方法对不同橡胶颗粒掺量下沥青混合料的低温抗裂性进行研究,并引入应变能密度值对混合料的低温抗裂性进行综合评价.试验结果表明:橡胶颗粒沥青混合料试件的破坏微应变均超过2 300,满足冬寒区的技术指标;无论是否掺加橡胶颗粒,随着温度的下降,沥青混合料破坏时的最大弯拉强度增大,弯拉应变降低,劲度模量增大;弯曲应变能密度在胶粒掺量为1%左右时具有较大的弯曲应变能密度值,此时橡胶颗粒沥青混合料具有较好的低温抗裂性.     

低渗透非均质砂岩油藏启动压力梯度研究

理论推导与室内实验相结合,建立了低渗透非均质砂岩油藏启动压力梯度确定方法。首先借助油藏流场与电场相似的原理,推导了非均质砂岩油藏启动压力梯度计算公式。其次基于稳定流实验方法,建立了非均质砂岩油藏启动压力梯度测试方法。结果表明:低渗透非均质砂岩油藏的启动压力梯度确定遵循两个等效原则。平面非均质油藏的启动压力梯度等于各级渗透率段的启动压力梯度关于长度的加权平均;纵向非均质油藏的启动压力梯度等于各渗透率层的启动压力梯度关于渗透率与渗流面积乘积的加权平均。研究成果可用于有效指导低渗透非均质砂岩油藏的合理井距确定,促进该类油藏的高效开发。     

Quantitative trait loci （QTLs） for quality traits related to protein and starch in wheat

Quality traits in wheat （Triticum aestirum L.） were studied by quantitative trait locus （QTL） analysis in a recombinant inbred line （RIL） population, a set of 131 lines derived from Chuan 35050 × Shannong 483 cross （ChSh）. Grains from RILs were assayed for 21 quality traits related to protein and starch. A total of 35 putative QTLs for 19 traits with a single QTL explaining 7.99-40.52% of phenotypic variations were detected on 10 chromosomes, 1D, 2A, 2D, 3B, 3D, 5A, 6A, 6B, 6D, and 7B. The additive effects of 30 QTLs were positive, contributed by Chuan 35050, the remaining 5 QTLs were negative with the additive effect contributed by Shannong 483. For protein traits, 15 QTLs were obtained and most of them were located on chromosomes 1 D, 3B and 6D, while 20 QTLs for starch traits were detected and most of them were located on chromosomes 3D, 6B and 7B. Only 7 QTLs for protein and starch traits were co-located in three regions on chromosomes 1D, 2A and 2D. These protein and starch trait QTLs showed a distinct distribution pattern in certain regions and chromosomes. Twenty-two QTLs were clustered in 6 regions of 5 chromosomes. Two QTL clusters for protein traits were located on chromosomes 1D and 3B, respectively, three clusters for starch traits on chromosomes 3D, 6B and 7B, and one cluster including protein and starch traits on chromosome 1D.     

On Tragic Consciousness In The Works By Ernest Hemingway

As an American modern novelist who were famous in the literary world, Hemingway was not a person who always followed the trend but a sharp observer. At the same time, he was a tragedy maestro, he paid great attention on existence, fate and end-result. The dramatis personae's tragedy of his works was an extreme limit by all means tragedy on the meaning of fearless challenge that failed. The beauty of tragedy was not produced on the destruction of life, but now this kind of value was in the impact activity. They performed for the reader about the tragedy on challenging for the limit and the death.