循环流化床锅炉返料器改造分析

本文介绍了循环流化床锅炉以及返料器存在的由于返料阀为高流率、低压头、小风量自平衡回灰阀,返料阀松动风采用一次冷风,使用过程中返料装置的配风管容易出现弯曲变形,返料不均匀造成堵塞的缺陷,返料装置的缺陷影响了锅炉的安全稳定运行,造成了一定的经济损失,为彻底解决此问题,通过对现有返料装置进行了改造,解决返料器堵塞的问题,为锅炉安全、稳定、长周期运行提供了基础保障。     

需求与退货价格具有相关性的双渠道供应链模型与协调

考虑由单个制造商和单个零售商组成的双渠道供应链,制造商负责产品的生产,生产出来的产品一部分由零售商进行传统渠道销售,另一部分由制造商通过网络进行直销.传统零售渠道和网络直销渠道都为消费者提供退货服务,且退货价格与两个渠道的市场需求具有相关性.通过建立双渠道供应链博弈模型,分析了集中式决策和分散式决策下的退货价格策略,并就两种决策模式下的退货策略进行了比较分析,同时就双渠道供应链实现协调进行了合同设计.研究表明:在批发价格契约下不能实现双渠道供应链的协调,而采用两部定价合同可实现双渠道供应链的协调.     

Does a lot help a lot? Forecasting stock returns with pooling strategies in a data‐rich environment

A variety of recent studies provide a skeptical view on the predictability of stock returns. Empirical evidence shows that most prediction models suffer from a loss of information, model uncertainty, and structural instability by relying on low‐dimensional information sets. In this study, we evaluate the predictive ability of various lately refined forecasting strategies, which handle these issues by incorporating information from many potential predictor variables simultaneously. We investigate whether forecasting strategies that (i) combine information and (ii) combine individual forecasts are useful to predict US stock returns, that is, the market excess return, size, value, and the momentum premium. Our results show that methods combining information have remarkable in‐sample predictive ability. However, the out‐of‐sample performance suffers from highly volatile forecast errors. Forecast combinations face a better bias–efficiency trade‐off, yielding a consistently superior forecast performance for the market excess return and the size premium even after the 1970s.     

Cross‐Section Stock Return and Implied Covariance between Jump and Diffusive Volatility

I examine the information content of option‐implied covariance between jumps and diffusive risk in the cross‐sectional variation in future returns. This paper documents that the difference between realized volatility and implied covariance (RV‐ICov) can predict future returns. The results show a significant and negative association of expected return and realized volatility–implied covariance spread in both the portfolio level analysis and cross‐sectional regression study. A trading strategy of buying a portfolio with the lowest RV‐ICov quintile portfolio and selling with the highest one generates positive and significant returns. This RV‐Cov anomaly is robust to controlling for size, book‐to‐market value, liquidity and systematic risk proportion. Copyright © 2015 John Wiley & Sons, Ltd.     

基于DEA模型的最优基金投资策略研究

为慈善基金提出了最优投资策略,定义了投资回报率的度量,投资回报率分别由主成分分析以及数据包络分析模型测量得到,并根据投资回报率选择了10个最优投资的大学.根据马克维茨投资组合理论确定高校投资额,用目标院校近5年投资回报率的平均值和标准差构建了投资组合模型,资金分配的具体比例能唯一确定.根据规模报酬估计投资时间,帮助慈善基金实现利益最大化.     

Two Tales of Return Predictability: The Case of Asia–Pacific Equity Markets

If past prices can successfully predict future price movements, it would contradict the notion of weak‐form market efficiency. Return predictability can be assessed via a variety of random walk statistical tests or via the application of mechanical trading rules. Findings of return predictability and state of market efficiency are compared by applying a battery of popular random walk statistical tests and a large set of mechanical trading rules to a family of equity indexes in Asia–Pacific equity markets over a 20‐year period of time. Inferences drawn from different random walk based econometric tests of market efficiency often disagree among themselves and tend to exaggerate the extent of predictability in returns. Testing of return predictability via a set of mechanical trading rules allows one to account for a possible data snooping bias, error measurements due to nonsynchronous trading and market frictions such as trading costs. Persistent predictability of returns that cannot be explained by the combination of data snooping bias, nonsynchronicity bias and moderate level of transaction costs is found in just two emerging equity markets in the region. Copyright © 2016 John Wiley & Sons, Ltd.     

现实主义诗歌的个人化表达——李皓诗歌论

通过对李皓诗歌的文本细读,阐述了李皓作为现实主义诗人,他的诗歌关注乡土与都市的现实世界,感时忧国,多角度、多侧面地书写生活,同时又拥有纯正的个人情怀的表达,对自我的言说、独特的情感体验和生活阅历建构了属于诗人自己的时间与空间之维。     

建造合同预计损失准备的转回和转销

文章论述了建造合同完成前,在已计提了预计合同损失准备的情况下,对因完工百分比增加造成的预计损失准备变动额应采取的会计处理方式。     

基于波概念迭代法的缝隙加载H形双频天线分析

阐述了波概念迭代法的基本原理,描述了同轴探针激励条件下空域散射算子的表达形式,运用WCIP方法仿真了缝隙加载H形双频天线表面的电场和电流密度分布,分析了该天线的回波损耗,计算结果与参考结论进行了对比,达到了较好的一致性,从而验证该方法的正确性和有效性.     

界在有无缥缈间——评鲁枢元的《文学的跨界研究》

鲁枢元先生三卷本的《文学的跨界研究》新近出版,这应是他三十年来文学理论研究成果的结晶,其中一个突出的关键词就是"跨学科"。他在"无界"的状态下开始进入文学的跨学科研究,涉足心理学、语言学和生态学,但所有的跨越都围绕着一个中心,那就是对文学的个体心灵与诗意空间的坚守。当他在文学心理学、文学言语学、生态文艺学三块领域都取得显著成果时,他却对"学科"由执着转向反思和质疑,在他看来,学科的跨越起源于原本的"无界"状态,经历学科壁垒森严的阶段,必然还要打破一个个"牢笼",重新回归"无界"的自然状态。