期刊:
PROCEEDINGS OF THE INTERNATIONAL SYMPOSIUM ON FINANCIAL ENGINEERING AND RISK MANAGEMENT 2008,2008年:255-258
作者机构:
[Zheng Chengli] Huazhong Normal Univ, Ecomn Sch, Wuhan 430079, Peoples R China.
会议名称:
International Symposium on Financial Engineering and Risk Management(2008年金融工程与风险管理)
会议时间:
2008-06-01
会议地点:
上海
会议论文集名称:
International Symposium on Financial Engineering and Risk Management(2008年金融工程与风险管理)论文集
关键词:
probability distortion operator;heterogeneous beliefs;aggregation;option pricing
摘要:
This paper considers the pricing of options using an approach developed and used in insurance pricing. This approach uses probability distortion function as the dual utility functions used in financial theory. In the world with heterogeneous beliefs, every people has his own probability distortion function expressed by a random parameter A. Then, these heterogeneous beliefs are aggregated by ordinary integral. Based on this, a new pricing method for European options is proposed. Through simulation, it turns out that there are more advantages in interpreting some puzzles than classical Black-Scholes model.
期刊:
7TH INTERNATIONAL CONFERENCE ON SYSTEM SIMULATION AND SCIENTIFIC COMPUTING ASIA SIMULATION CONFERENCE 2008, VOLS 1-3,2008年:1354-+
通讯作者:
Zheng, Chengli
作者机构:
[Zheng, Chengli] Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.;[Chen, Yan] Xianning Univ, Sch Econom & Management, Hubei 437100, Peoples R China.
通讯机构:
[Zheng, Chengli] H;Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.
会议名称:
Asia Simulation Conference 2008/the 7th International Conference on System Simulation and Scientific Computing(2008亚洲仿真会议/第七届系统仿真和科学计算国际会议)(ICSC'2008)
会议时间:
2008-10-10
会议地点:
北京
会议论文集名称:
Asia Simulation Conference 2008/the 7th International Conference on System Simulation and Scientific Computing(2008亚洲仿真会议/第七届系统仿真和科学计算国际会议)(ICSC'2008)论文集
摘要:
This paper proposes a new perspective to consider equilibrium system with price and quantity based on classical demand-supply analysis,combining with modern financial assets pricing theory.In this system,investors are heterogeneous,their valuations about the assets are different,and they have different demand or supply function.The money wealth and assets quantity hold by investors in the market affect equilibrium,equilibrium price and trade volume are determined at the same time.Through simulation on this system,it turns out the method can interpret much phenomena in real market.Index Terms-Demand-supply analysis,Equilibrium system,Securities pricing,Heterogeneity
期刊:
PROCEEDINGS OF THE 5TH INTERNATIONAL CONFERENCE ON INNOVATION & MANAGEMENT, VOLS I AND II,2008年:1913-1916
作者机构:
[Zhao Meilin] Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.
关键词:
Cultural perspective;Strategic human resources management;Cultural expositive function
摘要:
By using a theoretical method of cultural perspective, this paper explores the theory of Strategic Human resources Management(SHRM) that is an artificial and humanizing cultural procedure. This paper stresses the uniqueness of the cultural perspective for SHRM in terms of both all ideological explanation and an explanation from inside to outside of an organization. It discusses the necessity of centralizing the Strategic Human resources Management on each individual when it is executed from the cultural perspective, and reveals the nature of stability, flexibility and uniqueness for SHRM.
期刊:
IFIP Advances in Information and Communication Technology,2007年251:187-193 ISSN:1868-422X
通讯作者:
Yi, Hu
作者机构:
[Yi, Hu] Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.
通讯机构:
[Yi, H.] S;School of economics, 152 Luoyu Road, Wuhan, 430079, China
会议名称:
Integration and innovation orient to e-society, volume 1 :
会议时间:
2007-01-01
会议地点:
Wuhan(CN)
会议主办单位:
Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.
会议论文集名称:
Integration and innovation orient to e-society, volume 1 :
摘要:
This paper makes use of a vertical integration model to explain virtual enterprises, analyses respective characteristics of virtual operation and internal integration, probes into the correlative factors of virtual operation. The paper points out that virtual operation and internal integration are two parallel ways which enterprises may choose to expand their organization. Virtual operation urges exterior market to become perfect, so may overcome the problem of market failure. Virtual operation can construct a relatively perfect exterior market, also uses existing exterior market efficiently, so enterprises are able to control market and transaction through virtual operation. But effective virtual operation is restricted by many conditions. The correlative factors of virtual enterprises includes the interior conditions of enterprises and exterior conditions from the dimensionalities of micro-environment and macro-environment. Therefore, along with the changes of market, environment, competition and enterprises' strategy, being agile and taking dynamic integration or virtual operation should be the best policy of enterprises' organization.
摘要:
Under the incomplete rational hypothesis, managers' expectation or behavior distorts their actual performance. This paper proposes Combination-Parameter-based incentive mechanism design,, and then introduces analytical research to adjust classical incentive model to increase credibility and validity,of such method.
摘要:
Along with trend of integrative regional economics and the practice of regional development, researches on regional marketing from the angle of theory have an important practical significance. Using the method of standard research, the paper puts forward the innovational pattern of regional public marketing through the analysis of regional features. The paper considers that the regional characteristics of wholeness of marketing object, commonality of marketing product, non-market of marketing input and public benefit of marketing output decides regional marketing should perform the pattern of public marketing, whose core subject is public organizations, important subject is regional enterprises and general subject is regional publics. The paper constructs the innovational public marketing pattern of the regional marketing, and draws conclusions that the marketing of regional image is a core, the marketing of investment attracting is a key, the marketing of visitor attraction is a pivot and the marketing of latent attraction is a guarantee.
摘要:
Based on the analysis of the relationship between environment and sustainable development, the current environment situation of the poor central and western regions and the reasons accounting for the environmental problems, this article hopes to establish the system for environmental improvement and reconstruction of the poor central and western China under the strategy of sustainable development by setting up environment improvement goals and approaches and feasible countermeasures which are to make poor regions alleviate poverty and keep sustainable development.
期刊:
PROCEEDINGS OF THE 14TH INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND ENGINEERING MANAGEMENT, VOLS A AND B: BUILDING CORE COMPETENCIES THROUGH IE&EM,2007年:1186-1189
作者机构:
[Yi, Hu] Huazhong Normal Univ, Sch Econ, Wuhan 430079, Peoples R China.
会议名称:
第十四届工业工程与工程管理国际会议(The Proceedings of The 14th International Conference on Industrial Engineering and Engineering Management IE&EM'2007)
摘要:
This paper uses a vertical integration model to explain internal and external integration, analyses respective characteristics of internal integration and external integration, studies the path of external integration of SMEs. The paper points out that there are two approaches of expansion of enterprises' organization: internal integration and external integration, the function of these two approaches is to enhance enterprises' competence. Internal integration behavior mainly establishes and uses internal market in order to reduce the transaction cost, but external integration behavior more establishes perfect exterior market and uses it. External interegration activities urge exterior market to become perfect, so may overcome the problem of market failure. With the aid of external integration, SMEs may share and optimize those interior or exterior resource, creating advantages for SMEs to grow rapidly.
期刊:
Proceedings of the 2006 International Conference on Management Science and Engineering,2006年:661-665
作者机构:
[Dong, Li-Min] Cent China Normal Univ, Sch Econ, Wuhan 430079, Hubei, Peoples R China.
会议名称:
2006 International Conference on Management Science and Engineering(2006管理科学与工程国际学术研讨会)
会议时间:
2006-11-08
会议地点:
武汉
会议论文集名称:
2006 International Conference on Management Science and Engineering(2006管理科学与工程国际学术研讨会)论文集
关键词:
urban land consolidation;principal-agent;risk
摘要:
Urban land consolidation (ULC) is an important way to resolve the problems of the equilibrium of land "demand and supply" and "food and development". ULC project is more risky than other kinds of projects because of its distinctness. From the perspective of principal-agent theory, the characteristics of ULC project and the risk of principal-agent are analyzed in this paper and then some countermeasures are put forward.