The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of s...The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of securities fully impound the return implication of that item. This study has two main objectives. Firstly, for testing the efficiency of Islamic capital market which focuses on Jakarta Islamic Index （JII）. Secondly, by this research finding the regulator can make a good solution to create the real Islamic capital market. This study concludes that the Islamic capital market is not efficient in information. This is proved by test, where the result for both mean adjusted model and market adjusted model shows not significant, which means that the stock price that occurred has not been able to reflect a strong relationship with the real conditions that exist within the company. The second conclusion is the magnitude of abnormal return suggests that the market still has asymmetric information that will cause the occurrence of abnormal return. This is very unfortunate because Islamic capital market should be efficient in reflecting information transparency that could create a fair price in accordance with the real condition of the company＇s stock issuance.展开更多
In this paper, from the two economic concepts of the price elasticity of demand and the cross elasticity of demand, under the assumption that the operator＇s management goal is to obtain the profit maximization, the a...In this paper, from the two economic concepts of the price elasticity of demand and the cross elasticity of demand, under the assumption that the operator＇s management goal is to obtain the profit maximization, the author established the mathematical model of the adjustment of the optimal price of the substituting commodity.展开更多
With the increasing ratio of self-owned housing, the demand for new building as gradually reduced. In other words, the demand of refurbishment becomes more urgent. The major objective of this paper is to explore and i...With the increasing ratio of self-owned housing, the demand for new building as gradually reduced. In other words, the demand of refurbishment becomes more urgent. The major objective of this paper is to explore and investigate the consumer behavior of housing renovation. We plan to explore the direct effects of housing refurbishment or restoration on the housing prices, and then the indirect effects of an externality spilled over to the neighbor. We will understand the overall effects to provide a preliminary estimate of the changing in the economic value resulting from the change in the housing refurbishment or restoration of buildings. This research also dig into how the effects in the housing refurbishment or restoration in Taipei city ＆ Kaohsiung city. The purpose is to investigate the driving force on the housing restoration. This study will be the empirical study on the economic values by using hedonic price model. The result will be useful on the decision-making on the urban regeneration by the way of housing restoration and suggests that property owners of a housing estate will benefit from participating on refurbishment in Taiwan.展开更多
In this paper,a prediction model on Chinese annual live hog supply was established.With cointegration test,backward and forward stochastic selection and other methods,four main factors(hog price,prices of inputs in ho...In this paper,a prediction model on Chinese annual live hog supply was established.With cointegration test,backward and forward stochastic selection and other methods,four main factors(hog price,prices of inputs in hog production,the level of hog inventory,as well as emergency and government policy) were chosen from 16 relevant factors to establish the model and make improvement.Applied the improved model,annual live hog supply in China from 2013 to 2016 was predicted in three scenarios.The predicted results showed that if there were no major emergencies from 2013 to 2016,there would be an upward trend in Chinese live hog supply year by year.The supply of live hogs in China in 2013 would be about 707.663 million head,in 2014 would be between 715.935 and 742.969 million head,in 2015 between 734.458 and 779.413 million head,and in 2016 between 750.923 and809.450 million head.展开更多
文摘The specific concepts of Islamic capital market are based on transparency, accountability, and no asymmetric information. A capital market is said to be efficient with respect to an information item if the prices of securities fully impound the return implication of that item. This study has two main objectives. Firstly, for testing the efficiency of Islamic capital market which focuses on Jakarta Islamic Index （JII）. Secondly, by this research finding the regulator can make a good solution to create the real Islamic capital market. This study concludes that the Islamic capital market is not efficient in information. This is proved by test, where the result for both mean adjusted model and market adjusted model shows not significant, which means that the stock price that occurred has not been able to reflect a strong relationship with the real conditions that exist within the company. The second conclusion is the magnitude of abnormal return suggests that the market still has asymmetric information that will cause the occurrence of abnormal return. This is very unfortunate because Islamic capital market should be efficient in reflecting information transparency that could create a fair price in accordance with the real condition of the company＇s stock issuance.
文摘In this paper, from the two economic concepts of the price elasticity of demand and the cross elasticity of demand, under the assumption that the operator＇s management goal is to obtain the profit maximization, the author established the mathematical model of the adjustment of the optimal price of the substituting commodity.
文摘With the increasing ratio of self-owned housing, the demand for new building as gradually reduced. In other words, the demand of refurbishment becomes more urgent. The major objective of this paper is to explore and investigate the consumer behavior of housing renovation. We plan to explore the direct effects of housing refurbishment or restoration on the housing prices, and then the indirect effects of an externality spilled over to the neighbor. We will understand the overall effects to provide a preliminary estimate of the changing in the economic value resulting from the change in the housing refurbishment or restoration of buildings. This research also dig into how the effects in the housing refurbishment or restoration in Taipei city ＆ Kaohsiung city. The purpose is to investigate the driving force on the housing restoration. This study will be the empirical study on the economic values by using hedonic price model. The result will be useful on the decision-making on the urban regeneration by the way of housing restoration and suggests that property owners of a housing estate will benefit from participating on refurbishment in Taiwan.
基金supported by the National Key Technology R&D Program under Grant No.2009BADA 9BB01-4the National Natural Science Foundation of China under Grant Nos.71173210 and 61273208
文摘In this paper,a prediction model on Chinese annual live hog supply was established.With cointegration test,backward and forward stochastic selection and other methods,four main factors(hog price,prices of inputs in hog production,the level of hog inventory,as well as emergency and government policy) were chosen from 16 relevant factors to establish the model and make improvement.Applied the improved model,annual live hog supply in China from 2013 to 2016 was predicted in three scenarios.The predicted results showed that if there were no major emergencies from 2013 to 2016,there would be an upward trend in Chinese live hog supply year by year.The supply of live hogs in China in 2013 would be about 707.663 million head,in 2014 would be between 715.935 and 742.969 million head,in 2015 between 734.458 and 779.413 million head,and in 2016 between 750.923 and809.450 million head.
