国家对新产品定义有新规定

国家计委会同国家税务局、国家物价局等部门。联合报送国务院审批的《全国工业新产品管理条例》,不久即将公布实施,这是建国以来第一部新产品管理的大法。 《条例》

The Q theory of investment, the capital asset pricing model,and asset valuation： a synthesis

The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

Dynamic Portfolio Choice under Uncertainty about Asset Return Model

The effect of uncertainty about stochastic diffusion model on dynamic portfolio choice of an investor who maximizes utility of terminal portfolio wealth was studied.It applied stochastic control method to obtain the closed-form solution of optimal dynamic portfolio,and used the Bayesian rule to estimate the model parameters to do an empirical study on two different samples of Shanghai Exchange Composite Index.Results show,model uncertainty results in positive or negative hedging demand of portfolio,which depends on investor's attitude toward risk;the effect of model uncertainty is more significant with the increasing of investment horizon,the decreasing of investor's risk-aversion degree,and the decreasing of information;predictability of risky asset return increases its allocation in portfolio,at the same time,the effect of model uncertainty also strengthens.

舰载“娇子”大角逐

“大力士”直-8家族。在四大家族中,直-8的资历最老。从20世纪70年代初立项研制,经过40多年的磨砺,直-8成为我国目前吨位最大、改进型最多的直升机,最大起飞重量为13吨级。舰载型直-8于2004年首飞,它定型投产后赶上071型两栖登陆舰入役,遂行上舰担任空中运输任务。2012年,“辽宁”舰入列,为舰载直升机提供了更大的搭载平台。