Electric power market is the lifeblood of business survival, electric power is the power of marketing the company＇ s core business and it is related to the survival and development of the electricity business. Power ...Electric power market is the lifeblood of business survival, electric power is the power of marketing the company＇ s core business and it is related to the survival and development of the electricity business. Power supply enterprises are to strengthen management, improve efficiency, and reduce costs, we must establish a customer-oriented new concept ＂big marketing, big market, big serve,＂ through the analysis of the current electricity market environment, we can develop appropriate marketing power strategy to effectively open up the electricity market and improve power enterprises in the market economy ＇ s competitiveness.展开更多
Current literature shows that short sellers earn positive returns on their trades and that the superior performance of short sellers is due to their better analytic skills. In this paper, we investigate, if it is poss...Current literature shows that short sellers earn positive returns on their trades and that the superior performance of short sellers is due to their better analytic skills. In this paper, we investigate, if it is possible for a short seller to make profits even if he does not have insider information or is not sophisticated. We use a one period model and assume that stock price follows a random walk with a positive drift to show that the＇ expected return for an uninformed short seller is always negative and his risks are always greater than the risks of a stock buyer. Hence a short seller would not trade unless he has superior trading skills and/or information. We also show that the market conditions when the stock＇s dividend yield is greater than the risk free rate gives the shortsellers advantage over stock buyers.展开更多
文摘Electric power market is the lifeblood of business survival, electric power is the power of marketing the company＇ s core business and it is related to the survival and development of the electricity business. Power supply enterprises are to strengthen management, improve efficiency, and reduce costs, we must establish a customer-oriented new concept ＂big marketing, big market, big serve,＂ through the analysis of the current electricity market environment, we can develop appropriate marketing power strategy to effectively open up the electricity market and improve power enterprises in the market economy ＇ s competitiveness.
文摘Current literature shows that short sellers earn positive returns on their trades and that the superior performance of short sellers is due to their better analytic skills. In this paper, we investigate, if it is possible for a short seller to make profits even if he does not have insider information or is not sophisticated. We use a one period model and assume that stock price follows a random walk with a positive drift to show that the＇ expected return for an uninformed short seller is always negative and his risks are always greater than the risks of a stock buyer. Hence a short seller would not trade unless he has superior trading skills and/or information. We also show that the market conditions when the stock＇s dividend yield is greater than the risk free rate gives the shortsellers advantage over stock buyers.
