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关键词： 股票市场交易   股价   投资价值   H股   香港证监会   中国证监会   上市股票   交易所  

摘要： 近日,沪港股票市场交易互联互通机制试点（下称沪港通）获中国证监会及香港证监会批准，两地投资者将通过当地券商买卖对方交易所上市股票，正式启动需要6个月准箭时间。沪港通将使AH股股价最新洗牌，两地股价最终将逐渐趋向一致。截至4月10日港股收盘，AH股中有24只股票股价倒挂。

关键词： 湖南省   金融稳定   经济金融形势   摘要   宏观经济环境   资产负债规模   上市公司业绩   社会保障能力  

摘要： 2013年，面对国内外复杂的经济金融形势，湖南省出台一系列稳增长的政策措施，抗击经济下行压力，经济总体稳中有进，多项主要经济指标回升，为金融业稳健运行提供了较好的宏观经济环境。全年银行业资产负债规模适度增长，资产质量整体良好，经营效益继续提升。证券业平稳健康发展，市场交易渐趋活跃，证券创新业务稳步发展，上市公司业绩进一步改善。保险业市场主体不断丰富、社会保障能力不断增强、市场秩序持续优化。

关键词： 经济发展   世界经济   中国   宏观经济环境   全球经济   经济全球化   航运业   综合实力  

摘要： 在经济全球化的今天,面对全球经济变动,谁也无法独善其身。航运是一个国家综合实力的体现,航运业的发展也深受宏观经济环境的制约。"海洋强国"的核心是"海运强国",了解世界经济格局的新变化和中国经济发展方式的转变,对于中国航运业转变经营理念,寻找市场契机,摆脱受累全球经济低增长的影响将大有裨益。"中国航运大讲坛"从第22期开始,由大连海事大学世界海运研究中心承办,本期大讲坛邀请了中共中央党校国际战略研究所所长韩保江教授从独特的视角剖析党的十八届三中全会以来世界经济格局的新变化与中国经济发展方式的转变,为中国航运软实力建设提供参考。我们也期待中国航运业像中国经济一样,能够在低迷的世界经济中独树一帜,为中国海洋强国战略的实施做出应有的贡献。

关键词： Value Stream Mapping (VSM)   Lean tool   Current state map   Future state map  

摘要： Studies on application of value stream mapping at automotive industry and the focus is on Dock to Stock process at Engine manufacturing plant is limited. This paper addresses the application of value stream mapping as one of the lean tools to eliminate the waste and improved operational procedures and productivity. In this approach, value stream mapping (VSM) is first used to map the current operating state for dock to stock operational activities. This map is used to identify sources of waste in the process. Further lean tools are used for reduction in the identified waste. A future state map is then developed for the system with designing lean process flow by reducing waste and process improvements. The implementations of the recommendations are executed. The study reveals that there is improvement in the process by implementing the proposed changes incorporated in future state map.

关键词： 白酒   股票   投资价值  

摘要： 白酒行业作为传统制造业，是我国经济发展中的重要产业，白酒类股票在A股市场中占有相当比重，曾经在资本市场中风靡一时，成为投资者竞相追逐的对象。但由于中国经济增长速度的放缓、经济转型、限制“三公消费”等因素的影响，白酒企业正经历着前所未有的发展危机，白酒类股票的表现也一落千丈，市值大幅蒸发，给广大投资者带来了巨大的亏损。白酒类股票的投资价值问题成为困惑很多中小投资者的一个现实问题。本文采用统计分析、案例分析、比较分析等简单实用的论证方法通过对中国白酒行业的发展现状、发展特点的梳理让投资者了解白酒行业的基本情况与发展趋势，了解投资白酒类股票的宏观经济与政策背景；通过对白酒类上市公司的盈利能力进行简单数理分析及比较分析，从财务分析的角度考察白酒类股票的投资价值；通过对白酒类股票的各种投资风险的全面分析，凸显出投资白酒类上市公司股票的特殊风险；最后通过重点分析白酒行业发展的周期性、趋势性及进入壁垒等，对白酒类股票的投资对策进行研究，并根据投资者的风险偏好、投资周期偏好不同提出相应的观点与结论。

关键词： Interdisciplinary approach   Academic publishing   High-quality manuscripts   Selection process   Optimal allocations  

摘要： Here we show how the same organizational structures can arise across seemingly unrelated domains of human activities. To this end we examine the example of academic journals publishing and stock market. A number of academic journals with low-prestige and limited resources may compete in the same selection process of high-quality manuscripts. This shared selection process is performed by an independent editorial committee. A journal editor is interested in maximizing the growth rate of journal wealth based on an optimal strategy of allocations on candidate manuscripts. Here we introduce the system of optimality equations for the maximization problem. Next, we find an optimal set of manuscripts to allocate on, as well as the optimal allocation fractions. It can be easily implemented by a simple algorithm for use at the shared selection process of high-quality manuscripts. The proposed structure presents a loose network of economic transactions, i.e. journal editors compete on somewhat like manuscript market by making stakes and risking their money. We provide a publicly available suite of web-based tools designed to the computation of the optimal set of manuscripts and the respective allocation fractions. Examples of the performance of the Web application for allocating journal resources are presented for two different selection processes of high-quality manuscripts.

关键词： Commerce/economics   Commerce/trends   Humans   Investments/economics   Marketing/economics   Marketing/trends   Models, Economic   Time Factors  

摘要： We analyse times between consecutive transactions for a diverse group of stocks registered on the NYSE and NASDAQ markets, and we relate the dynamical properties of the intertrade times with those of the corresponding price fluctuations. We report that market structure strongly impacts the scale-invariant temporal organisation in the transaction timing of stocks, which we have observed to have long-range power-law correlations. Specifically, we find that, compared to NYSE stocks, stocks registered on the NASDAQ exhibit significantly stronger correlations in their transaction timing on scales within a trading day. Further, we find that companies that transfer from the NASDAQ to the NYSE show a reduction in the correlation strength of transaction timing on scales within a trading day, indicating influences of market structure. We also report a persistent decrease in correlation strength of intertrade times with increasing average intertrade time and with corresponding decrease in companies' market capitalization-a trend which is less pronounced for NASDAQ stocks. Surprisingly, we observe that stronger power-law correlations in intertrade times are coupled with stronger power-law correlations in absolute price returns and higher price volatility, suggesting a strong link between the dynamical properties of intertrade times and the corresponding price fluctuations over a broad range of time scales. Comparing the NYSE and NASDAQ markets, we demonstrate that the stronger correlations we find in intertrade times for NASDAQ stocks are associated with stronger correlations in absolute price returns and with higher volatility, suggesting that market structure may affect price behavior through information contained in transaction timing. These findings do not support the hypothesis of universal scaling behavior in stock dynamics that is independent of company characteristics and stock market structure. Further, our results have implications for utilising transaction timing pat

关键词： Public announcements   stock market   abnormal returns   stock prices  

摘要： The previous studies have shown that there is a relation between values of stock prices and the price changes caused by public announcements. Thus the aim of this paper is to examine if the respective relation can be observed in Lithuanian stock market and how this relation is affected by different categories and types of announcements. The research covers public announcements issued by companies listed in Vilnius Stock Exchange. Simplified version of event study methodology was used in this paper and average absolute and abnormal returns were computed. Most of the results in this paper are consistent with the previous studies and a negative correlation between the values of stock prices and the price changes caused by public announcements was estimated.

关键词： Net present value   innovation projec   desk research  

摘要： This paper is dedicated to the issue of innovative performance measurement. It focuses on techniques that can be employed for evaluation of single innovation project. The framework is based on detailed literature review and net present value (NPV) approach analysis. Furthermore, the paper investigates its pros and cons and discusses methods able to deal with NPV weaknesses. Used with care, these techniques can guide the management of innovation project by providing indications of its potential financial value.

关键词： 宏观经济环境   企业上市   家居   经济形势   市场机遇   消费  

摘要： 随着经济形势的好转，家居行业成为人们消费的重要领域之一，在过去的2013年，企业上市，业绩飘红的消息让观者欢欣雀跃，质量门频发、企业倒闭的事实也让人唏嘘不已。在变幻莫测的经济大环境下，伴随着十八届三中全会全面改革的决议，家居业又会迎来怎样的市场机遇？