This article analyzes efficiency in Chinese stock market based on the robust regression model considering serial correlation for the sample of daily return. We find that the Shanghai market has reached weak form effic...
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This article analyzes efficiency in Chinese stock market based on the robust regression model considering serial correlation for the sample of daily return. We find that the Shanghai market has reached weak form efficiency, while Shenzhen market has not yet. We also analyze the impact of Price Limit Mechanism on market efficiency. The result indicates that the Price Limit Mechanism has reduced market efficiency for Shanghai market, but has no effect on Shenzhen market.
Due to the concern of human being and the planet's future, sustainable development has been one of the themes in today's world. As a resource-intensive industry, the sustainable development of construction ind...
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Due to the concern of human being and the planet's future, sustainable development has been one of the themes in today's world. As a resource-intensive industry, the sustainable development of construction industry is very important. Some scholars and organizations have provided various measurements for sustainable development. However, they are still ill in some aspects. This paper introduces the conception of sustainable development and provides a new measurement of sustainable development for construction industry, based on the previous researches and the meaning of sustainable development, combined with the purpose and operability of research and the characteristics of construction industry.
While the benefits of computer mediated group collaboration are proven, increasing the effectiveness of the teams using them is an ongoing process. Building trust is vital to group collaboration and decision making. R...
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While the benefits of computer mediated group collaboration are proven, increasing the effectiveness of the teams using them is an ongoing process. Building trust is vital to group collaboration and decision making. Risk, benefit, utility value, interest, power and effort are six factors that influence individual trust development. This paper introduces two new approaches, Scale Balance Model and Trust Spider Diagram, to help investigate individual trust development over time in facilitated group collaboration. A longitudinal case study was used to investigate individual trust development based on a year long student project. Survey data was collected at three points throughout the year and the results analysed using the two approaches. Each approach has its strengths and weaknesses.
近年来,我国约50%的贸易为加工贸易,国际生产分割对我国经济产生巨大的影响(如Lau等,2007)。本文依据最新的可获得的投入产出表数据,考虑到该贸易特征,利用改进的结构分解模型(SDA),研究了我国温室气体排放的影响因素,并从中得出产业政策设计建议。不同于之前研究集中在讨论产业部门的效应;本文从产品"蕴含"(embodied)污染的角度进行了分析,即某产业部门产品的制造所带来的直接的和间接的环境压力。结论如下:出口的迅猛增长造成了大量的污染排放,但加工贸易的实施较有效的缓解了这一影响(类似的结论见Dean and Lovely,2008);其次,我国能耗系数的大幅度降低有效地缓解了环境压力,但生产技术变化的方向、最终消费的高速增长使得节能减排的压力巨大。从产品"蕴含"污染的角度,建筑业的扩张对CO2排放影响明显,比如,2002年至2007年间对该产品的消费贡献了28%的CO2排放增幅(730Mt;对比部门效应建筑业的贡献7Mt)。其他高排放的产品包括:通用、专用设备制造业;金属冶炼及压延加工业;电气机械及器材制造业以及通信设备、计算机及其他电子设备制造业。本文的政策含义如下:首先,针对产品实施的行业政策应转向严控"两高一资"产品行业,并改善我国在国际生产分工中的位置;其次,在能耗系数降低我国仍然大有可为的基础上,技术进步的作用可以进一步加强,诸如清洁能源技术的大力推广等。
This paper provides an enhanced Russell graph efficiency measure to solve infeasibility of the super-efficiency DEA model. As the efficiency measure combines the efficiencies of inputs and outputs, a unique efficiency...
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This paper provides an enhanced Russell graph efficiency measure to solve infeasibility of the super-efficiency DEA model. As the efficiency measure combines the efficiencies of inputs and outputs, a unique efficiency score for a DMU can be obtained. Then a relation between the proposed approach and prior literature is studied. Based on the proposed approach, the efficiency scores for all DMUs are calculated through a two steps procedure. An example of the US cities is used to illustrate the proposed technique and explain the application. Moreover, an efficiency comparison is made in details. To statistically examine whether there is any difference for the efficiency scores, this paper uses the Friedman test and Wilcoxon Signed Ranks Test to verify the difference. A Pearson correlation analysis for the efficiency scores is conducted in the end.
In the foundation of analyzing the characteristics of EPC general contract mode and the risk of the EPC (Engineering-Procurement-Construction) general contract project, this article establishes the bidding risk grey-f...
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In the foundation of analyzing the characteristics of EPC general contract mode and the risk of the EPC (Engineering-Procurement-Construction) general contract project, this article establishes the bidding risk grey-fuzzy comprehensive evaluation mathematical model from the general contractor's angle. By establishing the bidding risk of assessment indicator system and applying the grey-fuzzy quality comprehensive evaluation model theory in the example of the evaluation of the EPC general contract project's bidding risk, it determines objectively the degree of the engineering's bidding risk and illustrates the validity and feasibility of the model that is applied to Evaluate the bidding risk of the EPC general contract project.
Tourism supply chain (TSC) is an emerging research area extended by the theory and methodology of supply chain management in the context of tourism service. TSC coordination sheds light on the optimal performance of t...
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Tourism supply chain (TSC) is an emerging research area extended by the theory and methodology of supply chain management in the context of tourism service. TSC coordination sheds light on the optimal performance of the tourism participants and the harmonious development of tourism. Tourism websites are of great importance in tourism with the development of the Internet. The study reviews the literature on the coordination of tourism supply chain, identifies the magnitude of tourism websites in TSC coordination, and proposes the coordination mechanism involving information sharing, contracting and pricing with a qualitative framework.
This paper addresses the issue of environmental risk perception in a multidimensional framework involving perceived risks in both time and space. A representation of the probability-time&space trade-off (PTST) is ...
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This paper addresses the issue of environmental risk perception in a multidimensional framework involving perceived risks in both time and space. A representation of the probability-time&space trade-off (PTST) is obtained in which the probability-time trade-off (PTT) and the probability-space trade-off (PTS) are combined. The probability-space trade-off is analogous to the probability-time trade-off, due to the fact that the probabilistic distance, the temporal distance and the spatial distance are psychologically equivalent. PTST provides a formal model to accommodate the intuition of the temporal and spatial distances being a source of uncertainty in the process of environmental risk perception and provides an explicit formula to transform objective distances into a subjective probability. Finally, we present an experiment in a between-subjects design in which we manipulate the temporal and spatial distances of a water pollution risk in the questionnaires. The subjects are asked to give their probability judgments towards the spatial-temporal events and they typically believe that they are less likely to suffer health problems when the temporal and spatial distances of pollutants extend longer. The results verify the validation of the proposed PTST model.
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