Since ＂Heroes＂ ＇ s success in 2002, local blockbusters has found its own way to make profit. ＂Make big movie, earn big money＂ has become an indisputable fact. But within the 330 movies made in China in 2006, only...Since ＂Heroes＂ ＇ s success in 2002, local blockbusters has found its own way to make profit. ＂Make big movie, earn big money＂ has become an indisputable fact. But within the 330 movies made in China in 2006, only very few of them are blockbusters, and the rest can all be classified as small and medium budget films. In particular, the low budget production in 2006, a small film ＂Crazy Stone＂ ＇ s unexpected success aroused wide attention from people both inside and outside the industry. With investment of several million, it has won over 20 million Box office. Coupled with the subsequent ＂Still Life＂ who has won international awards, plus, a large number of small and medium cost movies such as ＂Nintendogs＂ , ＂utter confusion＂ , ＂My name is Liu Yuejin＂ , ＂year-round,＂ and so on has won huge applauses from the audiences, the small and medium budget movies become a dazzling landscape in the whole movie market. Since then, discussions about such movie became one of the hottest debated topics in the movie industry.展开更多
How budgetary management as a tool for planning and controlling of business operations is aligned with strategy and internal control system may not be problematic to American firms but is the most challengeable to lar...How budgetary management as a tool for planning and controlling of business operations is aligned with strategy and internal control system may not be problematic to American firms but is the most challengeable to large corporations in China. The case of Sinochem Corporation demonstrates the ways that budgetary management is linked with 3-year strategic planning at corporate level via yearly operating plans at business levels, and that budgets are integrated with internal control system into a device of task control to monitor whether business operations are on the track toward strategy. It is learned from the case that Chinese corporations have initiated different practices than American firms in solving the same issues.展开更多
Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describe...Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describes how soft constraint derives from interdependence among corporations, banks, and the government. Soft constraint is explained in relation to changes in concentrated shareholding ownership, the increasing dominance of the financial sector, and financial insurance. We conclude： 1） concentrated shareholding ownership and institutionalized soft budget constraint create sub-optimal allocation of resources in the market economy; 2） neoclassical microeconomic principles cannot explain the economic actions of organizations in the market economy and should be revised; 3） externalities associated with soft budget constraint have spread across the globe to become both the cause and primary effect of cyclic global financial and economic crises. Hence, the government, banks, and the corporate sector must work together to overhaul supervisory mechanisms. On a global level, governments must collaborate to build a new international economic order. Correcting imbalances in international reserve currencies and fortifying administration of cross-national economic organizations will mitigate the effects of soft budget constraint.展开更多
Support Vector Machine (SVM) is a very specific type of learning algorithms characterized by the capacity control of the decision function, the use of the kernel functions and the sparsity of the solution. In this pap...Support Vector Machine (SVM) is a very specific type of learning algorithms characterized by the capacity control of the decision function, the use of the kernel functions and the sparsity of the solution. In this paper, we investigate the predictability of financial movement direction with SVM by forecasting the weekly movement direction of NIKKEI 225 index. To evaluate the forecasting ability of SVM, we compare the perfor-mance with those of Linear Discriminant Analysis, Quadratic Discriminant Analysis and Elman Backpropagation Neural Networks. The experiment results show that SVM outperforms other classification methods. Furthermore, we propose a combining model by integrating SVM with other classification methods. The combining model performs the best among the forecasting methods.展开更多
文摘Since ＂Heroes＂ ＇ s success in 2002, local blockbusters has found its own way to make profit. ＂Make big movie, earn big money＂ has become an indisputable fact. But within the 330 movies made in China in 2006, only very few of them are blockbusters, and the rest can all be classified as small and medium budget films. In particular, the low budget production in 2006, a small film ＂Crazy Stone＂ ＇ s unexpected success aroused wide attention from people both inside and outside the industry. With investment of several million, it has won over 20 million Box office. Coupled with the subsequent ＂Still Life＂ who has won international awards, plus, a large number of small and medium cost movies such as ＂Nintendogs＂ , ＂utter confusion＂ , ＂My name is Liu Yuejin＂ , ＂year-round,＂ and so on has won huge applauses from the audiences, the small and medium budget movies become a dazzling landscape in the whole movie market. Since then, discussions about such movie became one of the hottest debated topics in the movie industry.
文摘How budgetary management as a tool for planning and controlling of business operations is aligned with strategy and internal control system may not be problematic to American firms but is the most challengeable to large corporations in China. The case of Sinochem Corporation demonstrates the ways that budgetary management is linked with 3-year strategic planning at corporate level via yearly operating plans at business levels, and that budgets are integrated with internal control system into a device of task control to monitor whether business operations are on the track toward strategy. It is learned from the case that Chinese corporations have initiated different practices than American firms in solving the same issues.
文摘Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describes how soft constraint derives from interdependence among corporations, banks, and the government. Soft constraint is explained in relation to changes in concentrated shareholding ownership, the increasing dominance of the financial sector, and financial insurance. We conclude： 1） concentrated shareholding ownership and institutionalized soft budget constraint create sub-optimal allocation of resources in the market economy; 2） neoclassical microeconomic principles cannot explain the economic actions of organizations in the market economy and should be revised; 3） externalities associated with soft budget constraint have spread across the globe to become both the cause and primary effect of cyclic global financial and economic crises. Hence, the government, banks, and the corporate sector must work together to overhaul supervisory mechanisms. On a global level, governments must collaborate to build a new international economic order. Correcting imbalances in international reserve currencies and fortifying administration of cross-national economic organizations will mitigate the effects of soft budget constraint.
基金This work is partially supported by Ministry of Education, Culture, Sports, Science and Technology of Japan, National Natural Science Foundation of China, Chinese Acedemy of Sciences, Key Laboratory of Management, Decision and Information Systems
文摘Support Vector Machine (SVM) is a very specific type of learning algorithms characterized by the capacity control of the decision function, the use of the kernel functions and the sparsity of the solution. In this paper, we investigate the predictability of financial movement direction with SVM by forecasting the weekly movement direction of NIKKEI 225 index. To evaluate the forecasting ability of SVM, we compare the perfor-mance with those of Linear Discriminant Analysis, Quadratic Discriminant Analysis and Elman Backpropagation Neural Networks. The experiment results show that SVM outperforms other classification methods. Furthermore, we propose a combining model by integrating SVM with other classification methods. The combining model performs the best among the forecasting methods.
