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In China, private placement fund has a major impact on the operation of stock market. Due to the characteristics of private placement fund and the lack of legislation, there are a number of risk factors in the operating of private placement fund. This article introduces the operating state of private placement fund in China, and analyzes the characteristics of the risk. In the last part, on the basis...
The difference between the risk free euro yield curve and the model-based, derived euro yield curve for Croatia, based on the euro bonds of the Ministry of Finance in the time dimension is the credit risk premium for Croatia. Country risk existence is a necessary category in assets valuation, capital budgeting, capital cost calculation, investment opportunities measures, developing of internal economy...
According to the Cobb-Douglas production function and solow residual value method, econometric model of building industry's performance is established and its influencing factors' quantitative analysis is conducted, which use the macroeconomic data from 1997 to 2008. The results show that building industry's production belongs to incremental reward type; performance's improvement depends on the adequate...
The paper first reviewed the measure methods of human capital, next set forth the meaning of enterprise human capital (EHC), and then discussed the issue of human capital property rights. The paper takes the point of view that investors should obtain corresponding EHC's ownership according to their contribution to the formation of EHC, from which we can make a price for EHC.
The business value maximization should be used as the superior target of financial management. Enterprise in developing process is faced with many valuable opportunities for investment. However, the traditional methods merely put the emphasis on enterprise cash equivalent value and present worth of income. In order to effectively overcome shortcomings of traditional evaluation method and make the...
Irreversible investments with largest outlay made with incomplete information are the mainstay of the oilfield development. Real Options Analysis (ROA) is a useful tool for making investment decisions under market uncertainty. Normal information generates continuous mean-reverting process for oil prices, whereas random abnormal information generates discrete jumps of random size. We evaluate an oilfield...
Chinese government has raised an amount of investment to prevent the national economy from the financial crisis impact and to make economy increase stably and rapidly. How to maximize the utility of government investment plays an important role in the development of China. In view of the fact that government investment transmitting through the industrial chain can generate pull effect, and the fact...
Real estate market is a complex system. As an important part of it, the determination of price relates to the developers' investment income[1]. Therefore, how to scientifically determine the selling price of real estate projects is that all developers have to face, as well as the problem that customers widespread concerned. In this study, we described several key models in current market and analyzed...
Optimization of real estate portfolio is to select two or more different types of real estate for investment, and the previous models based on expected return-variance cannot meet the needs of the investors. Furthermore, the investors change their risk preference with the risk level. In this study, firstly, the semi-variance model of real estate investment portfolio based on risk preference coefficient...
In view of Institution theory, this paper studied the impact of institution environment of host country on the outward direct investment of China. Based on the data of our outward direct investment to 99 countries, this paper used principal components analysis to establish the institutional index of host countries. This paper finds out the institutional index of host countries has a significant positive...
In this paper we apply a Data Envelopment Analysis (DEA) for measuring changes in total carbon emission efficiency between 1986 and 2008 across Chinese regions and then estimate driving forces of regional carbon emission performance (MCPI). A long-run relationship has been detected and the coefficients, estimated using Kao's method, are statistically significant mostly. Our results indicate the positive...
This paper empirically tests Levine's [1] endogenous growth model, which suggests that stock market and tax policy jointly affect economic growth. Following Levine [1], tax or impeding financial market activities have the potential to lower per capita growth rate. Using monthly data from 1980 to 2008, the relationship between tax revenue, stock market as proxies by direct tax revenue and KLCI respectively...
Based on datum from 1990 to 2008 of Liaoning province, by exerting stepwise regression, co-integration and error correction model, the paper analyzes the influential factors of FDI from different angles, such as market size, labor costs, degree of openness, human capital, and level of information. The results show that market size is the most important factor which influence FDI in Liaoning, meanwhile...
Most empirical studies in China and abroad concluded that: Foreign direct investment had positive influence on the technical progress of Chinese local enterprises. However, the conclusion was drew without considering the influence of changes in institution on Chinese total factor productivity. This paper puts the variable which representing changes in institution into econometric model, it's found...
This thesis includes four parts: The first part is the introduction; The second part is the imbalance analysis of Chinese Regional Economic Development; The third part is Chinese regional economic development path; The fourth part gave the conclusion that is Balance is relative, and the difference is absolute. Regional economic development can never be absolutely balanced. Chinese regional economic...
To properly determine the concession period is one of the most important questions of BOT (Build-Operate-Transfer) projects. Project life and total investment are always pre-given in extant models such as ACM and RCM, which needs more discussion. Social benefit is one crucial factor for a host government to accelerate infrastructure construction by the BOT mechanism, which has been much more concerned...
Little research has been investigated in construction engineering management (CEM) community by employing cognitive science. The 2nd workshop is the continuous efforts to provide a forum to discuss the theoretical and practical issues on integrating cognition research into CEM to improve judgment and decision. Papers are collected from departments of construction management in top universities in...
We propose a multi-agent-based artificial futures market to understand commodity futures price dynamics, which is called stylized facts. The multi-agent-based artificial futures market includes hedger agents and speculative agents. We use Brenner's stochastic belief learning model (SBL) to describe speculative agents' learning process. The SBL is a social learning process with local information. New...
Since Chinese enterprises act as the suppliers in the global value chain, the backward technology spillover dominate the technology spillover of foreign direct investment (FDI) in China. The paper conducts an empirical analysis into the impacts on Chinese productivity of the backward technology spillover of FDI in the global value chain, by introducing the related variables into the regression model...
Based on the institutional theory and entrepreneurship theory, this study empirically tests hypotheses related to the impacts of institutional support on firms' innovativeness and risk taking propensities in the context of Chinese transition economy. Results from a survey of 207 firms in China indicate that institutional support positively influences firms' propensity of being innovative and taking...
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