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To develop a new analysis method which can improve IT investment benefit in government sector, this study proposes a management framework based on portfolio approach integrated with IT governance. An IT investment projects portfolio is built in terms of risk, technology, benefit, capital allocation. Then, this study develops a nonlinear 0-1 multi-objective programming to optimize the portfolio. Finally,...
From a firm-year perspective, sorting all analysts issuing forecasts for a firm into quartiles, with analysts' forecasts samples exceeding 7700 and stock rating samples exceeding 21000, this paper tests relationship between analysts' earnings forecasts accuracy and recommendations investment value by computing the characteristics and daily returns of the long and short portfolio of each quartile....
In recent years, China's basic pension system which is the combination of social pooling and individual account has faced with problems such as empty individual accounts, low investment returns and weakness of incentive mechanism, etc. The advent of notional defined contribution provides a new thought for the reform of basic pension system in dilemma. In this paper, transaction costs, investment return...
Based on the model of return-based style analysis put forward by Sharpe (1992), the paper made an empirical research on the thirty open-ended funds in China within the sample periods during 2008 and 2011. Through quantifying the degree of the fund style drift and fund performance, this paper studied the relationship between the fund style drift and fund performance. As a result, this paper shows that...
Based on the original Feder model, we present a generalized model including the time-lag effect of spillovers and competition mechanism of FDI. Using panel data for 31 provinces in China over the period from 1999 to 2010, we find the competition mechanism have been established between domestic-funded and foreign-invested corporations gradually, which shows the fruit of ``exchanging technology with...
By selecting customers' credit risk indicators of the domestic textile industry on the electronic trading market in China and using factor analysis method, clustering method, and ordered-logit model, it can be concluded that the comprehensive evaluation of customers' credit status is measured scientifically in B2B market. Therefore, customers' credit risk management is made effectively in accordance...
In order to better understand the transmission mechanism of monetary policy, we evaluated the asymmetric response of corporate over investment to monetary policy. We tested the different effects of monetary policy on excessive investment under the different corporate ownership structure. There are two findings. First, listed companies in China generally have excessive investment behavior. Second,...
Based on the equity theory and the characteristics of the culture industry, this article defined cultural property and cultural property transaction, and then discussed the cause of cultural property trade market and its function. The conclusion shows that cultural property transaction market can rationalize the distribution of resources, discover value and perfect the multi-layer market system, the...
Since free cash flow has been widely employed in financial consultation, credit rating and other businesses in western countries, its financial functions have been recognized by more and more scholars. Compared with profit and net operating cash flow, free cash flow has the advantages of zero risk, excellent practicality, and comprehensive information. In this paper, the author intends to, on the...
This paper analyzes the present situation and the existence question of relationship between supply chain partners, then use the customer satisfaction model for analysis, in the end it make appropriate responses and suggestions.
This paper selects more mature companies which are listed in Shanghai and Shenzhen stocks in Hubei Province as a sample and examines the factors affecting the size of the Chinese enterprises by using panel data of three annual reports from 2008 to 2010. The author measures the firm size by total assets and finds that the size of the company is related to the company performance and innovation investment...
This paper constructs a DSGE model to research the influence of China's fiscal expenditure on resident consumption. The study shows there is extrusion effect in China's fiscal expenditure. However the model simulation shows that, through increasing the complementarity between fiscal expenditure and resident consumption, we can turn extrusion effect into packed-into effect, thus make the fiscal expenditure...
Whether the phenomenon of abnormal net redemption exists in Chinese fund market has recently been a controversial issue. An empirical research, based on a multivariate mixed time series model, is conducted to find out the long-term and short-term effects of factors which influence net redemption rate. The empirical results indicate that the abnormal net redemption phenomenon in Chinese fund market...
This article expounds the definition of information technology barriers, it explains the effects of the information technology barriers to the technological innovation of small and medium-sized enterprises, and finally puts forward the measures of a crossing the information technology barriers from the government and enterprises' point of view.
Through the research of various countries' tax policy in finance lease, we show the different characteristics of fiscal policy between these countries.
Renminbi internationalization has become a hot issue in recent years. This paper started with the meanings of renminbi internationalization and analyzed the current situation of renminbi internationalization. Then, restricted factors of the renminbi internationalization were discussed and strategies to promote renminbi internationalization were put forward. The analysis shows that, renminbi internationalization...
Monetary policy is the main tool to realize macro-control, it plays a very important role in impacting macroeconomic. Starting from monetary transmission mechanism, this paper researches the monetary policy transmission channel and the asymmetry. At last, it studies several research methods. The result indicates that the monetary policy indeed exists asymmetry when transmitting. Actually compared...
The crucial grasper for development of strategic emerging industries is actively building and promoting innovation clusters. This is success experience for domestic and international emerging industry. This article analyzed the basic characteristics of innovation cluster and immanent mechanism, pointed out that the most prominent bottleneck of innovation cluster operation is not free for industrialization...
QFII system is a transitional arrangement to selectively introduce foreign capital in China where capital project has not been completely opened. It has been almost 10 years since the implementation of QFII system in China. This paper analyzes the current development of QFII system in China based on the review of its history, shows the differences and limitations based on the comparison with QFII...
The upgrading China's economic and financial strength provides a solid foundation for the internationalization of the RMB. Non-equilibrium model of global economic development, lending crisis and the U.S. debt crisis has highlighted the shortcomings of the international dollar standard system. Reconstruction of post-crisis era given birth to the international monetary system is the opportunity of...
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