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关键词： 四川经济   平稳增长   经济形势   解读   宏观经济环境   经济总量   GDP   国际  

摘要： 在当前国际、国内宏观经济环境复杂严峻的形势下，四川一季度GDP实现7．4％的增速，一季度经济总量超过2004年全年经济总量，实属不易。预计上半年四川经济仍将保持平稳增长，增速有望继续高于全年预期。

关键词： Socially responsible investing   Portfolio management   Negative Screening   Bootstrap testing   Sustainalytics   RISK-FACTORS   PERFORMANCE   RETURNS   SHARPE   GOVERNANCE   MOMENTUM   FUNDS   COST  

摘要： Using a new dataset of environmental, social, and corporate governance company ratings for the European market, this article examines whether socially responsible stock selection adds or destroys value in terms of portfolio performance. From 2004 to 2012, we find the following: (i) Negative screens excluding unrated stocks from a representative European stock universe allow investors to significantly outperform a passive investment in a diversified European stock benchmark portfolio. (ii) Additional negative screens based on environmental and social scores neither add nor destroy portfolio value, when cut-off rates are not too high. In contrast, governance screens can significantly increase portfolio performance under similar conditions. Thus, investors in the European stock market can do (financially) well while doing (socially) good. (iii) Because of a loss of diversification, positive screens can cause portfolios to underperform the benchmark. This implies that investors should concentrate on eliminating the worst firms. (iv) Our results are robust along several dimensions, namely, choice of performance measure, time, test parametrisation, portfolio weighting scheme, approximation of the risk-free rate, and consideration of transaction costs.

关键词： Firm value   stock market liquidity   S&P BSE 100 Index  

摘要： This paper examined the relationship of stock market liquidity on the firm value of Indian manufacturing firms included in the S&P BSE 100 Index from 2009 to 2012. The random effects panel regression model has been invoked to analyze the relationship. The empirical results support the stock market liquidity implications of firm value, that is, better liquidity of stock of companies results in higher value of the firm. The empirical results put forth that there is a positive relationship between stock market liquidity as measured by Amivest measure (1985) and firm performance as measured by Tobin"s Q.

关键词： Life Cycle Costing   Water Treatment Plants   Net Present Value method   Equivalent Annual Cost method   infrastructure developments   Economic and Financial analysis  

摘要： Life Cycle Costing (LCC) is a valuable technique which is used for predicting and assessing the cost performance of the assets. In this paper LCC of Water Treatment Plant is carried out using Net Present Value Method (NPV) and Equivalent Annual Cost (EAC) Method. The comparison between the results obtained through each method is shown and the advantages and disadvantages of both methods are studied. Water Treatment Plants (WTPs) are the important infrastructure facilities provided in the cities. Thus evaluation of economic and financial aspects of the WTPs over its entire life span is essential to provide the municipal corporations and Government bodies to effectively and efficiently construct and run the projects. The LCC analysis carried out in this work can be used to carry out the LCC analysis of any other Water Treatment Plant in other cities and of other technologies with the modifications in the input data. The LCC analysis of 50 MLD WTP at Nilgiri bagh, Nashik is presented in this paper. The LCC of 50 MLD WTP by NPV method was found to be Rs. 54, 28, 85,657.8 and for EAC method as Rs. 3, 75, 59,970.95.

关键词： Copula   Value at Risk   Stock Markets North America  

摘要： This work applies copula modeling to estimate the degree of dependence among the nine major equity markets from the Western Hemisphere, seven emerging markets from Latin America (Argentina, Brazil, Chile, Colombia, Peru, Venezuela, Mexico) and the two mature markets from North America (Canada, United States). The relevance of copula-measured dependence is assessed estimating Value at Risk for bilateral portfolio investments, comparing it with conventional VaR methodologies. The data encompass daily time series for the 1992-2009 period.

关键词： 县域经济发展   区域经济   区域一体化发展   宏观经济环境   持续健康发展   长三角经济圈   转型发展   竞争与合作  

摘要： 当前，国内外宏观经济环境发生了深刻变化，区域竞争与合作不断强化，县域经济发展进入新阶段。按照经济持续健康发展要求以及率先打造县域经济发展升级版要求，县域经济势必通过拓宽空间、优化布局、加快集聚、有机更新、配优资源，提升县域经济核心竞争力，实现科学发展、转型发展、可持续发展。黄岩区属于长三角经济圈，在县域经济转型发展过程中，要跳出传统县域经济发展框架和行政区划束缚，主动融入区域一体化发展，谋求发展新路径。

关键词： 宁夏经济   经济形势   宏观经济环境   目标导向   经济运行   自治区   党中央   国务院  

摘要： 今年以来，面对错综复杂的宏观经济环境和持续加大的下行压力，自治区党委、政府认真贯彻落实党中央、国务院一系列改革措施和战略部署，坚持问题导向和目标导向，强化对经济运行的监测和调控，积极推进供给侧改革，以新思路、新举措，全力以赴抓开局，实现了一季度宁夏经济企稳回升。

关键词： 市政道路   PPP模式   私人组织   城市基础建设   运营和维护   城市市政   附属机构   收益性   定量评价   现值  

摘要： 私人组织要积极利用政府大力推广PPP模式的契机,做好市政道路项目的调查研究,合理选取项目,积极与政府部门沟通,努力提升项目投资回报水平,争取实现项目公益性和收益性的有机结合。

关键词： 费用现值法   管状带式输送机   隧道+普通带式输送机   设备更新投资  

摘要： 煤泥混合料运输受多个因素的影响,技术分析和经济比较是方案选择的核心内容。在技术均可行的前提下,首先分析各方案的建设投资和经营成本,并采用费用现值法研究各方案在经济方面的优劣;在对设备投资比重不同的方案进行比选时,设备更新投资是不可忽视的重要因素。研究结果表明:费用现值法能够较直观的反映出各方案在经济方面的差异,可为建设单位在运输方案选择上提供有益的参考与借鉴。

关键词： 企业家精神   中国经济   计划经济制度   改革开放初期   隐忧   宏观经济环境   市场经济制度   市场制度  

摘要： 同样的宏观经济环境下，有些企业非常困难，而有些企业的效益却非常好。为什么会出现这样的现象？原因是：企业家精神的不适应。改革开放初期，一些人看到了当时计划经济制度的不合理，于是在传统制度之外进行市场制度的创新，从而获得了制度的红利。随着改革的不断推进，市场经济制度已从总体上替代了计划经济制度。