The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod mod...The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod model for its portfolio problem. The model is a multistage stochastic programming which considers transaction costs, cash flow between time periods, and the matching of asset and liability; it does not depend on the assumption for normality of return distribution. Additionally, an investment constraint is added. The numerical example manifests that the multiperiod model can more effectively assist the property-liability insurer to determine the optimal composition of insurance and investment portfolio and outperforms the single period one.展开更多
This article uses discriminant sampling method to select 1062 small and micro enterprises from 25 provinces in China. Researches were conducted on their credit demand and credit behavior, with the Probit model to carr...This article uses discriminant sampling method to select 1062 small and micro enterprises from 25 provinces in China. Researches were conducted on their credit demand and credit behavior, with the Probit model to carry out metrologic tests on influential factors of these enterprises' credit demand and credit behavior.The metrologic analysis shows: Literacy level of leader, asset size, annual revenue of the enterprises have significantly positive effects on the credit demand of these small and micro enterprises. Annual revenue has significantly negative influence on overall credit behavior and the occurrence of informal financial behavior, but significantly positive influence on the occurrence of formal financial behavior. Literacy level of staff and asset size of enterprises have significantly positive influence on the occurrence of the overall credit behavior of small and micro enterprises.展开更多
The site drilling packer permeability test and TEM to the 2100 workface in Gucheng coalmine determined the two-zone height under sublevel strip mining.The conclusion considers that the lying strata deterioration law o...The site drilling packer permeability test and TEM to the 2100 workface in Gucheng coalmine determined the two-zone height under sublevel strip mining.The conclusion considers that the lying strata deterioration law of the strip mining is similar to that of the sublevel mining.Thus, against that the actually measured data lacked, it is feasible to refer to the reservation of the waterproof coal pillar in the neighbor coalmine under sublevel situation.However, it is necessary to further launch the research on lying strata deterioration law under sublevel striping mining for the purpose of providing the right foundation for the layout of the workface not mined so far and the reservation of the waterproof coal pillar in the mining area.展开更多
文摘The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod model for its portfolio problem. The model is a multistage stochastic programming which considers transaction costs, cash flow between time periods, and the matching of asset and liability; it does not depend on the assumption for normality of return distribution. Additionally, an investment constraint is added. The numerical example manifests that the multiperiod model can more effectively assist the property-liability insurer to determine the optimal composition of insurance and investment portfolio and outperforms the single period one.
基金subsidized by Ministry of Education Humanities and Social Sciences Planning Fund(11YJA790146) "Coordinated Development of Urban and Rural Finance Research in Dual Economic Structure"Southwestern University Research Funds for the Central Universities Special Funds for Basic Items(SWU1009002) "Coordinated Development of Theoretical Research in Dual Economic Structure in Rural Finance"+1 种基金Chongqing talents project "Chongqing Urban and Rural Finance Coordination development Research"National Social Science Fund Project (12CJY062) "Construction of Rural Supporting Financial Systems and Innovation Research",national Social Science Fund Project(10BJY082) "Rural Microfinance Institutions Innovation and Risk Control Study" and "Statistics First-level Discipline and Doctoral Discipline Construction Funds in Southwestern University"
文摘This article uses discriminant sampling method to select 1062 small and micro enterprises from 25 provinces in China. Researches were conducted on their credit demand and credit behavior, with the Probit model to carry out metrologic tests on influential factors of these enterprises' credit demand and credit behavior.The metrologic analysis shows: Literacy level of leader, asset size, annual revenue of the enterprises have significantly positive effects on the credit demand of these small and micro enterprises. Annual revenue has significantly negative influence on overall credit behavior and the occurrence of informal financial behavior, but significantly positive influence on the occurrence of formal financial behavior. Literacy level of staff and asset size of enterprises have significantly positive influence on the occurrence of the overall credit behavior of small and micro enterprises.
基金Supported by Fujian Administration of Education for Science Research (JB08232)the State Key Development Program for Basic Research of China(2006CB202200)
文摘The site drilling packer permeability test and TEM to the 2100 workface in Gucheng coalmine determined the two-zone height under sublevel strip mining.The conclusion considers that the lying strata deterioration law of the strip mining is similar to that of the sublevel mining.Thus, against that the actually measured data lacked, it is feasible to refer to the reservation of the waterproof coal pillar in the neighbor coalmine under sublevel situation.However, it is necessary to further launch the research on lying strata deterioration law under sublevel striping mining for the purpose of providing the right foundation for the layout of the workface not mined so far and the reservation of the waterproof coal pillar in the mining area.
