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In the light of the development of energy performance contracting (EPC) in our country, the writer systematically studies the policy, market, financing, running and benefit risk which are existing in the process of the development of EPC. On the basis of it, the target system of risk evaluation on EPC is discussed, quantitative evaluation is conducted by applying theory of indistinct integrated evaluation,...
The present thesis constructs a financial constraint and overconfidence measure. On the basis of classifying the sample by the degree of overconfidence, we explore the influence of financing constrait and overconfidence on investment. It shows (1) overconfident managers often increase investment and financing constraints inhibites investment; (2) investment-financial constraint sensitivity with overconfident...
This paper first reviews the evaluation theories and models on fund performance. There are mainly two research fields on fund performance: the evaluation and the attribution of fund performance. The attribution theories attribute the fund performance into risk-revenue compensation, fund manager's ability of stock-selection and timing-selection. The evaluation models of fund performance can be mainly...
The violation of listed company doesn 't only cause loss to listed company itself but also cause great negative impact to social economy. Consequently, prevention weighs more than punishment and remedial measure afterwards. Foreseeing the violation risk of listed company by taking advantage of Support Vector Machine, the violation forewarning model established has the advantage of being highly accurate...
Under the condition of stochastic default intensity, correlation of default intensity and default-free interest rate, the paper constructed the term structure model of credit risk. A Markov chain based method is proposed for analyzing the credit risk Based on reliability interference theory, we get the indexes such as the default probability, the mean time to the first default, steady probability...
This paper tests for the herding behavior of corporate financing decisions using factor analysis and k-means cluster method to the samples of China Securities 300 sector indices announced on January 1, 2006. The empirical research results show that the characteristics system of financing mode is constituted by six factors, size and capital structure, management shareholdings, corporate values, growth,...
Because of pursuing different benefits, during the acting, there are some conflicts between clients and agents. When agents go in for their benefits, it is possible to damage clientspsila benefits. Thus, clients must build a set of balance measures to restrict CEOs and reduce agent cost. Reasons begetting CEOspsila financial fraud is various, so it is difficult to make the part of balance to be considerate...
In this paper, we have established one credit risk evaluation model based on learning vector quantization respectively. This model is used to identify two patterns samples of Chinese listed companies, including training samples of 285 listed companies (59 companies with special treatment and 226 normal companies) and test samples of 117 listed companies(29 companies with special treatment and 88 normal...
In order to evaluate the financial performance of listed power enterprise, a new method is put forward based on the fuzzy matter-element analysis and combined with the membership function of normal distribution, the concept of Euclid approach degree, the theory of information entropy. Regarding the listed power enterprise as the objects of matter-element, and the compound fuzzy matter-element is constructed...
Research on stock company comprehensive assessment has always been an important focus for economists and computer experts. In this paper, the financial indexes reflecting the comprehensive capability of stock companies as main research objects including income per thigh, clean asset per thigh, profit rate of clean asset, Kohonen network with the advantage of clustering is applied to assess for stock...
Financial index is always an important approach to evaluate companiespsila financial condition. This paper, based on analysis of disadvantages of traditional financial index system, uses way of factor analysis, and extracts nine of the most important common factors from usual financial index, then verifies effectiveness of these common factors by using statistical method. At last, we select seven...
In this paper there is a problem of risk analysis in company's financial activities. Principles of using different methods of prognostication, solving the problem of multicriterion are compared.
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