Optimal investment problem for an insurer and a reinsurer

This paper studies the optimal investment problem for an insurer and a reinsurer. The basic claim process is assumed to follow a Brownian motion with drift and the insurer can purchase proportional reinsurance from the reinsurer. The insurer and the reinsurer are allowed to invest in a risk-free asset and a risky asset. Moreover, the authors consider the correlation between the claim process and the price process of the risky asset. The authors ?rst study the optimization problem of maximizing the expected exponential utility of terminal wealth for the insurer. Then with the optimal reinsurance strategy chosen by the insurer, the authors consider two optimization problems for the reinsurer: The problem of maximizing the expected exponential utility of terminal wealth and the problem of minimizing the ruin probability. By solving the corresponding Hamilton-Jacobi-Bellman equations, the authors derive the optimal reinsurance and investment strategies, explicitly. Finally, the authors illustrate the equality of the reinsurer's optimal investment strategies under the two cases.     

中国和美国信贷冲击跨境溢出效应的比较研究

本文构建了基于符号约束识别的GVAR模型,并用以考察中国和美国的信贷市场冲击对全球41个国家的不同溢出效应.研究结果表明,中国紧缩性信贷市场冲击对本国实体经济有显著的负效应,但仅限于短中期;而美国信贷冲击对本国乃至全球经济都具有相当大且持久的负影响.中国信贷冲击的跨国效应较小,且主要通过贸易渠道.中国信贷市场的本国冲击能解释中国产出近10%的波动,但无论是本国效应还是跨境传导,总需求冲击仍是驱动中国经济周期波动的最主要力量.     

大学生羞怯与手机成瘾倾向:孤独感的中介作用

为探讨大学生羞怯与手机成瘾倾向的关系,考察孤独感在大学生羞怯与手机成瘾倾向之间的中介作用。采用羞怯量表、UCLA孤独量表得分第三版和大学生手机成瘾倾向量表对在贵州省8所高校抽取的1 147名大学生进行调查。结果显示:大学生羞怯量表得分、孤独感量表与手机成瘾倾向量表得分显著正相关(r=0.27,r=0.29,均P<0.001),羞怯量表得分和孤独感量表得分显著正相关(r=0.49,均P<0.001);羞怯和孤独感均可显著正向预测大学生手机成瘾倾向(均P<0.001),孤独感在大学生羞怯与手机成瘾倾向之间的部分中介作用成立。     

New Develoopment of the Basic Theory of Extenics

In this paper,the new development of three basic theories of Extenics,incluing basic-element theory,extension set theory and extension logic theory ,has been introduced.And the new theoretical frame of Extenics has also been set forth.     

The Optimal Solution of the Model with Physical and Human Capital Adjustment Costs

We prove that the model with physical and human capital adjustment costs has optimal solution when the production function is increasing return and the structure of vetor fields of the model changes substantially when the prodution function from decreasing return turns to increasing return. And it is shown that the economy is improved when the coefficients of adjustment costs become small.     

宇宙临界减速因子

本文证明了如果中微子具有质量,那么膨胀宇宙的临界减速因子q_c就不是通常所说的1/2而是等于1。     

拮抗肌对的协同控制与EMG信号的中值频率关系

探讨在持续恒力收缩时,正常人体肘关节主动肌和桔抗肌的协同作用原理与它们的表面EMG信号中值频率(Median Frequency,MF)的变化趋势,研究它们的疲劳行为。十五个正常受试者的实验数据统计结果表明,拮抗肌的SEMG/MF高于主动肌;随着收缩时间的增加,主动肌和拮抗肌的MF几乎以相同的速率下降;收缩力越大,它们的两条拟合直线之间的距离、互相关系数、下降速率也越大;关节的角度的变化对上述结论似乎没有明显的影响。这些结论对屈曲和伸展模式都成立。利用人体组织的幅度衰减特性和频率衰减特性,神经肌肉系统的“共驱动”概念对上述结果进行了讨论。     

浅谈网络环境下印刷型文献的主体地位

章分析了印刷献在规模数量、学术价值、检索利用等方面的优势，阐述了印刷型献在网络环境下图书馆馆藏中的主体地位。     

透过鹏华探析开放式基金的销售策略

我国开放式基金的销售起步不久,虽然已经达到一定的规模,但是基金行业在中国资本市场的地位还十分弱小,其销售状况并不理想.因此,加强营销能力是目前我国基金管理公司面临的挑战之一.本文将以鹏华基金管理公司为例,运用市场营销理论的4P组合策略,借鉴国外成熟市场经验,针对该公司的销售现状进行分析,提出了开放式基金的销售策略.