Predicting Firms＇ Financial Failure Using Financial Ratios： an Empirical Studies of Chinese Firms

The stock market has played an important role in today‘s China economy. Due to the fact that a number of the listed companies did not generate the return that the investors expected, the research on the causes of financial failure and predicting such financial failure becomes very important for future capital market development. The paper selected 43 ST(Special Treat) and 43 Non-ST companies as sample, using financial ratio and the factor analysis model to compare and analyse. This study especially analyses profitability, operation efficiency and development ability of firms and focuses on the design of an early warning system for possible financial failure of the listed companies by using factor analysis.     

An Investigation on Properties of PU/PVC Blended Porous Films

Structure and properties of PU/PVC blended film are fnvestlgated in the work. The experimental results show that the PU/PVC blended film has a multiplex poroslty strueture, and their structure and properties vary with PVC content in the blended film. The correlation and regresslon between the properties and PVC content are listed in the paper.     

Long-term trends in foF2 over Moscow ionosonde station: Its estimate and origins

We introduce a new approach,using the International Reference Ionosphere 2007(IRI-2007)model and observations from the Moscow ionosonde station,to analyze the long-term trends of ionospheric foF2.Possible origins,whether natural or manmade, are discussed.A small but significant residual foF2 trend is found,with-0.76 MHz over the past 50 years,but-0.2 MHz after eliminating the most variations caused by solar and geomagnetic activities and the variational earth’s magnetic field.We find that this slope depends on local time and seasons.There is a pronounced diurnal negative variation in k(annual mean slope of diurnal variations),with much larger absolute values in the morning than during afternoon or evening;the largest k is about-0.0018 per year in spring,and the smallest trend of about-0.0012 per year occurs in winter.Finally,the evidence of crucial influences of geomagnetic activity and the earth’s magnetic field on the observed trends,as emphasized by the IRI-2007 empirical model,is confirmed,and the effect of CO2 contributions to the trend is also discussed,by cooling the thermospheric temperature or recombining the electron density.     

A New Hidden Markov Model for Protein Quality Assessment Using Compatibility Between Protein Sequence and Structure

Protein structure Quality Assessment（QA） is an essential component in protein structure prediction and analysis. The relationship between protein sequence and structure often serves as a basis for protein structure QA.In this work, we developed a new Hidden Markov Model（HMM） to assess the compatibility of protein sequence and structure for capturing their complex relationship. More specifically, the emission of the HMM consists of protein local structures in angular space, secondary structures, and sequence profiles. This model has two capabilities：（1） encoding local structure of each position by jointly considering sequence and structure information, and（2）assigning a global score to estimate the overall quality of a predicted structure, as well as local scores to assess the quality of specific regions of a structure, which provides useful guidance for targeted structure refinement. We compared the HMM model to state-of-art single structure quality assessment methods OPUSCA, DFIRE, GOAP,and RW in protein structure selection. Computational results showed our new score HMM.Z can achieve better overall selection performance on the benchmark datasets.     

A Brief Analysis of English Public Political Speaking from the Perspective of Structure and Strategies of Discourse

Discourse analysis is the study of how stretches of language considered in their full textual,the aim of discourse analysis is to explain how people construct and comprehend various coherent discourses. English public speaking occurs when one person speaks in English to an different types. Consequently,English public political speaking,the subject of this thesis,is one sub-component in terms of classification of content. This thesis intends to use the methods of discourse analysis to deal with English public political speaking. The analysis reveals that effective public speaker should employ consistent structure and strategies with the subject,content,purpose and situation of speech. This study is of a certain value in instructing how to be a good English public speaker and how to be an effective communicator in English.     

Developing Agility from a Structured Perspective

Modeling plays an important role in understanding and implementation of manufacturing system under changing competitive environment. Agile manufacturing is a new pattern of production. It is the issue to identify, analyze and evaluate agility for involved people, information, process and organization. There is no commonly accepted analytical structure. The essence of agility is investigated and a model to develop agility is elucidated.     

Supporting various top-k queries over uncertain datasets

There have been many researches and semantics in answering top-k queries on uncertain data in various applications. However, most of these semantics must consume much of their time in computing position probability. Our approach to support various top-k queries is based on position probability distribution （PPD） sharing. In this paper, a PPD-tree structure and several basic operations on it are proposed to support various top-k queries. In addition, we proposed an approximation method to improve the efficiency of PPD generation. We also verify the effectiveness and efficiency of our approach by both theoretical analysis and experiments.     

Developing Tendency of Fashion Business in China

Nowadays Chinese fashion & accessory business has possessed some new features similar to the information industry , and has a developing tendency of information -media - like. High - sensitive - level fashion market is breeding, which results in the transformation of the fashion industrial structure. Designer brands work well in concert with this trend and two kinds of high - sensitive - level segments formed in Chinese fashion market.     

One Method of How to Reserve or Abandon and Understand the Exception Rule

As a special subject in the research on information diffusion mechanism in knowledge discovery field, the author presents a new method on deciding to reserve or abandon and understanding the Exception Rule, which is to analyze the changing trend of three parameters ( the support, confidence and LS), combining with the analysis of the historical changing trend of the support of the former and latter part of the Rule, in order to receive the acceptable rule and help users to fully understand them, and use them appropriately. This research has a significant effect on the post-disposal of knowledge discovery and its realizability and practicability.     

Identification of the Credit Guarantee Network of Steel Trade Enterprises in China

The risk points in the credit guarantee network of steel trade enterprises were identified by using the network analysis method in this paper. Firstly, the formation and operation mechanism of steel trade credit guarantee network was analyzed.Secondly,a guarantee network was established to analyze the related network structure indexes based on the mutual guarantee data of 83 enterprises in a steel trade market. These indexes included centrality,honest broker,and structural hole. The results suggest that network analysis method can be used to find out the risk points of the guarantee network. Additionally,some recommendations are brought forth to reduce or prevent future crises.     

科技类上市公司年报创新信息的可靠性分析

以中国科学技术促进发展研究中心创投所发布的“科技百强排行榜”为样本,运用回归模型实证分析了科技类上市公司年报创新信息的可靠性,希望能引发更多关于年报相关信息可靠性的关注,从而为投资者分析企业的经营行为和企业绩效,制定投资决策提供帮助.     

独立董事比例与上市公司自愿披露程度的相关性

以我国120家上市公司2002年年度报告为研究对象,采用实证方法对独立董事比例和上市公司自愿披露程度关系进行检验.结果表明:独立董事比例与上市公司自愿披露程度正相关.在我国,独立董事比例的提高能够强化上市公司董事会的客观性和独立性,影响上市公司信息披露决策,使其倾向于更多的自愿披露.     

重污染行业上市公司环境信息披露研究——以辽宁省为例

重污染行业对环境的影响越来越大。以辽宁省重污染行业上市公司为例,对近三年年报中的环境信息披露状况进行了分析,发现多数公司在其年报中“董事会报告”部分或财务报表主要项目附注中披露了环境方面的定性或定量信息,但是存在行业间差异较大、披露不详细、定性信息多定量信息少、报喜不报忧等问题。建议应统一环境信息披露的规范,引导上市公司自我披露,促进证监会和环保机构的联动,加大环境披露不当行为的惩罚力度。     

新会计准则对上市公司信息披露的影响

证券市场的健康发展对促进我国市场经济的完善和发展起到了至关重要的作用.而证券市场制度的核心是会计信息披露制度,会计信息的披露直接影响到投资者的价值判断和投资决策.我国财政部于2006年2月15日颁布的新的企业会计准则对会计信息的披露了作了一些补充和规定.本文从上市公司信息披露存在的问题出发,着重分析了新企业会计准则中的关联方披露、债务重组的披露和每股收益的披露对我国上市公司财务信息披露的影响,最后指出新准则信息披露仍然存在的不足.     

陕西省上市公司盈利能力与资本结构的实证研究

目的研究公司资本结构与盈利能力之间的关系,探讨企业是否可以通过优化资本结构,提高盈利能力。方法以陕西省31家上市公司2011年财务数据为样本,以资产负债率为公司资本结构的代表变量,对反映公司盈利能力的4个主要指标,借助SPSS17.0,利用主成分分析法对陕西省上市公司资本结构和盈利能力的关系进行回归分析。结果与结论企业的盈利能力与其资产负债率成负相关关系,公司可以通过优化资本结构,提高公司盈利能力。     

我国医药行业上市公司资本结构分析

以2003年-2005年我国10家医药行业上市公司对外披露的财务数据为样本,分析其资本结构状况.得出基本结论:医药行业上市公司的资本结构决策总体比较谨慎,企业融资顺序有待调整,企业债券市场需要进一步完善.     

内部控制信息披露研究——来自我国民营上市公司的数据分析

分析了我国2003—2005年民营上市公司年报中的内部控制信息披露状况,提出了改进民营上市公司内部控制信息披露的建议。     

管理层权力与信息披露质量关系的实证研究

信息披露质量是投资者利益保护、维持资本市场健康发展的关键因素。文章根据2003-2009年深交所上市公司数据,考察了管理层权力与信息披露质量之间的关系。研究结果发现,管理层＂正＂向权力同信息披露质量呈负相关关系,管理层＂负＂向权力同信息披露质量呈正相关关系。因此,要解决信息披露失真问题,应该从合理安排管理层权力入手。     

上市公司自愿性披露原则探讨

上市公司自愿性披露是有效资本市场的重要环节。本文认为,上市公司在进行自愿性披露时要遵循分离均衡、成本效用、及时真实、避免诉讼、保护商业机密和可理解性六大原则。既要考虑公司自身成本效用因素,也要考虑证券监管、投资者关系管理、商业竞争等外部要素,避免自愿性披露的不足或过度。     

经济林产业上市公司融资影响因素分析

【目的】推动经济林产业上市公司发展的必要手段就是在资本市场中获取足够的资本要素,根据可持续增长理论的内在要求,融合产业特性,研究经济林产业上市公司融资影响因素,可以为制定出符合经济林产业上市公司发展的融资策略提供必要的决策依据。【方法】根据可持续理论构建融资策略评价指标,并提出相关假设,对21家经济林产业上市公司105个面板数据的回归处理采用随机效应模型,进行融资影响因素显著性分析。【结果】随机效应模型检验结果显示,总资产对数、总资产周转率、营业利润率和净资产收益率的t统计量分别为5.318 1、3.197 1、2.310 8和-2.684 8,说明我国经济林产业上市公司融资水平与企业规模、运营能力、自身竞争力等因素呈正相关,与企业盈利能力呈负相关;同时显示对企业资本抵押价值、偿债能力和内部积累能力影响不显著。【结论】经济林产业上市公司融资结构以外源性融资为主,内源性融资为辅;外源性融资结构不平衡,公司偏好股权融资,债务融资较少,整体资产负债率不高;经济林产业处于高速发展阶段,实际增长率高于可持续增长率,公司融资需求较大;盈利能力对内源性融资能力有很大的影响,公司规模与现金流量管理也是提升内源性融资能力的重要因素。