论适时生产系统的控制构造

论适时生产系统的控制构造上海财经大学会计学系陈胜群适时生产系统（Ｊｕｓｔ－Ｉｎ－ＴｉｍｅＰｒｏｄｕｃｔｉｏｎＳｙｓｔｅｍ，简称ＪＩＴ系统）已在国内就有过介绍，但对其控制构造或控制方式尚未见到系统的叙述。即使在其发源地日本，实务界也往往是人云亦云，对Ｊ...

Identification method of crowded passenger flow based on automatic fare collection data of Nanjing Metro

To relieve traffic congestion in urban rail transit stations,a new identification method of crowded passenger flow based on automatic fare collection data is proposed.First,passenger travel characteristics are analyzed by observing the temporal distribution of inflow passengers each hour and the spatial distribution concerning cross-section passenger flow.Secondly,the identification method of crowded passenger flow is proposed to calculate the threshold via the probability density function fitted by Matlab and classify the early-warning situation based on the threshold obtained.Finally,a case study of Xinjiekou station is conducted to prove the validity and practicability of the proposed method.Compared to the traditional methods,the proposed comprehensive method can remove defects such as efficiency and delay.Furthermore,the proposed method is suitable for other rail transit companies equipped with automatic fare collection systems.

Stock Liquidity Risk Pricing Model Driven by Systematic and Unsystematic Risk

In the stock pricing, liquidity risk has become one of the important factors that affect the stock realizable value. Systematic and unsystematic risk decided a stock＇s liquidity risk. The author uses the stock price index growth rate and net outer disk ratio to describe a systematic and unsystematic risk faced by investors. With the help of correlation and regression analysis in SPSS software, the paper tries to establish the systematic and unsystematic risk-driven stock liquidity risk pricing model. Empirical study shows that systematic and unsystematic risk has significant influence on stock liquidity risk. The bigger circulation stock, the greater the systemic risk influence; the less the circulation stock, the larger the non-system risk influence. Calendar factor on stock returns ratio has no significant effect. Trading volume on the stock returns ratio of small companies had no significant effect. The model has important reference value for the measure of stock liquidity risk value loss.

The effect of financial ratios, firm size, and cash flow from operating activities in the interim report to the stock return

The objective of this study is to examine the value relevance of accounting information in explaining stock return. The study uses profitability, liquidity, leverage, market ratio, size and cash flow as proxies of accounting information. Cumulative abnormal return and market adjusted return are used as stock return variables. The samples of the study are listed companies in manufacturing industries that actively trading between 2003-2006 in Indonesia Stock Market. The study finds that profitability, turnover and market ratio has significant impact to the stock return. The result consistent with previous studies Hobart （2006）, Utama and Santoso （1998） and Restraningsih （2007）.

Market Structure, Liquidity and the Performance of Emerging Equity Markets

Recent studies analyzing the liquidity of emerging equity markets （EEM） focus mainly on two independent variables： （1） the turnover ratio and （2） value of equity traded. They ignore the impact of the market concentration of stock traded which could generate price distortion/manipulation. This study empirically estimates the impact of market structure （concentration） and liquidity （turnover ratio） on equity performance （price/returns） of 19 EEM. We use panel data for the period 1992-2000 and least square dummy variable regression technique that measure fixed effects and the dynamics of adjustment. The results show the significance of both independent variables. Liquidity favours investment, and market concentration suggests the potential for market/price manipulation that requires regulatory policies. These results indicate success of reform policies aimed at capital deepening to improve efficient capital allocation and provide profitable investment opportunities.

Flow Properties of Turbulent Fiber Suspensions in a Stock Pump Impeller

A numerical method for predicting fiber orientation is presented to explore the flow properties of turbulent fiber suspension flowing through a stock pump impeller. The Fokker-Planck equation is used to describe the distribution of fiber orientation. The effect of flow-fiber coupling is considered by modifying the constitutive mode.The three-dimensional orientation distribution function is formulated and the corresponding equations are solved in terms of second-order and fourth-order orientation tensors. The evolution of fiber orientation, flow velocity and pressure, additional shear stress and normal stress difference are presented. The results show that the evolutions of fiber orientation are different along different streamlines. The velocity and its gradient are large in the concave wall region, while they are very small in the convex wall region. The additional shear stress and normal stress difference are large in the inlet and concave wall regions, and moderate in the mid-region, while they are almost zero in most downstream regions. The non-equilibrium fiber orientation distribution is dominant at the inlet and the concave wall regions. The flow will consume more energy to overcome the additional shearing losses due to fibers at the inlet and the concave wall regions. The change of flow rates has effect on the distribution of additional shear stress and normal stress difference. The flow structure in the inlet and concave wall regions is essential in the resultant rheological properties of the fiber suspension through the stock pump impeller, which will directly affect the flow efficiency of the fiber suspension through the impeller.

A Continuum Percolation Model for Stock Price Fluctuation as a Lévy Process

This paper concerns with two reasons for stock price fluctuation, the instinctive stochastic fluctuation and the fluctuation caused by the spread of information. They are constructed by compound Poisson process and continuum percolation model separately. Combining the two models, the authors get a Levy process for the price fluctuation that can explain the fat-tail phenomenon in stock market. The fat-tails axe also presented in numerical simulations.

A STUDY ON THE CHAOS MODEL OF LIQUIDITY IN STOCK MARKET

For a Stock Market,the critical problem is the maintenance of its liquidity.Market liquidity can be described in various ways,in particular, in terms of the bid/offer spread and the market depth.Model of market liquidity dynamics has been proposed in Schmidt,A.B.'literate.In our study,we improve his model.On one hand,we think that trading volume is determined by the total number of traders,as well as the relations between the numbers of buyers and sellers,while the model of Schmidt only considers the first item.On the other hand,Schmidt assumes that the number of “newcomers”in the market is in proportion to the current number of trades.However,we all know that the continual rise or fall of the price will also attract more buyers or sellers,that is,“newcomers”,into the market,which he has not taken for granted.We also prove it to be a chaos model through analysis of Lyapunov exponent.On the assumption that price variation can be neglected,we discuss the conditions in which chaos will emerge.Finally,we implement a computer simulation of the model in MATLAB,and get more interesting results.