T<span style="font-family:Verdana;"><span style="font-family:Verdana;"><span style="font-family:Verdana;">his paper aims to analyze the competitive position of Port of D...T<span style="font-family:Verdana;"><span style="font-family:Verdana;"><span style="font-family:Verdana;">his paper aims to analyze the competitive position of Port of Douala in Central African ports market structure. In other words, it consists of measuring port market level and competitiveness through an assessment of their growth rate and market share. </span></span></span><span><span><span style="font-family:""><span style="font-family:Verdana;">The purpose of the paper is to </span><span style="font-family:Verdana;">provide us with information on periodical changing status of ports competing with each other. It also provides us with an effective managerial tool to port operators in the assessment of ports market share and position. </span></span></span></span><span style="font-family:Verdana;"><span style="font-family:Verdana;"><span style="font-family:Verdana;">For doing so, the measurement technique as Shift-Share Analysis was applied in the study by using a panel dataset of the 7 selected ports of Central Africa sub-region from 2008 to 2018. The paper used the recent dynamics and characteristics of port market in terms of port throughputs to compare the yearly trend and market share. By conducting the study of the market growth rate model, the findings showed that the Port of Douala was the top leader of the market in 2009, 2015, 2016 and 2018. The findings also revealed the competitive positions of these ports under study have changed over the period of study due to the significant change of their market share with average growth rates. The final results showed that several determinant factors have affected the present hierarchy of competitiveness level in the selected ports market especially with small and medium size ports that are strengthening their positions vis-a-vis larger ones. However, the results could be used for analyzing the relative efficiency and overall performance of the Central African Sub-regional seaports including the Cameroonian ports.</span></span></span>展开更多
Aim of this paper is to characterize different risk measures in portfolio construction on seven Central and South-East European stock markets;Slovenia, Croatia, Hungary, Poland, Chez Republic, Bulgaria and Romania. Se...Aim of this paper is to characterize different risk measures in portfolio construction on seven Central and South-East European stock markets;Slovenia, Croatia, Hungary, Poland, Chez Republic, Bulgaria and Romania. Selected countries are members of EU, except Croatia and Turkey which have candidate status. Empirical part of this paper consists of three stages;at first descriptive statistic on stock returns was performed, afterwards different risk measures were employed in portfolio construction and in the last part, portfolios were tested in the out-of-sample period. Results indicate presence of extreme kurtosis and skewness in stock return series. Resulting portfolios incorporate stocks with extremely high kurtosis and stocks with negative skewness. Portfolio construction based only on risk and return results in major exposure to extreme returns and unsatisfactory portfolio out of sample results.展开更多
In this paper a novel cost function based on the relationship between operation cost of unit and generation load rate is employed in an agent-based model of Trans-provincial Centralized Bidding Trading Market of East ...In this paper a novel cost function based on the relationship between operation cost of unit and generation load rate is employed in an agent-based model of Trans-provincial Centralized Bidding Trading Market of East China Grid. Simulation results are compared to real data to prove that the model is correct. Further analysis on simulation results point out the way to achieve an all-win game for power market members: generation companies improve their average load rates of the units by selling their electricity in the market, which makes units' cost drop and settlement price stay lower than benchmark price. Consequently electricity-demand provinces saved expenses, and units increase their profits. In conclusion, the trans-provincial electricity market of East China Power Grid is a successive case which improves the efficiency of the electricity industry by market-oriented measures.展开更多
文摘T<span style="font-family:Verdana;"><span style="font-family:Verdana;"><span style="font-family:Verdana;">his paper aims to analyze the competitive position of Port of Douala in Central African ports market structure. In other words, it consists of measuring port market level and competitiveness through an assessment of their growth rate and market share. </span></span></span><span><span><span style="font-family:""><span style="font-family:Verdana;">The purpose of the paper is to </span><span style="font-family:Verdana;">provide us with information on periodical changing status of ports competing with each other. It also provides us with an effective managerial tool to port operators in the assessment of ports market share and position. </span></span></span></span><span style="font-family:Verdana;"><span style="font-family:Verdana;"><span style="font-family:Verdana;">For doing so, the measurement technique as Shift-Share Analysis was applied in the study by using a panel dataset of the 7 selected ports of Central Africa sub-region from 2008 to 2018. The paper used the recent dynamics and characteristics of port market in terms of port throughputs to compare the yearly trend and market share. By conducting the study of the market growth rate model, the findings showed that the Port of Douala was the top leader of the market in 2009, 2015, 2016 and 2018. The findings also revealed the competitive positions of these ports under study have changed over the period of study due to the significant change of their market share with average growth rates. The final results showed that several determinant factors have affected the present hierarchy of competitiveness level in the selected ports market especially with small and medium size ports that are strengthening their positions vis-a-vis larger ones. However, the results could be used for analyzing the relative efficiency and overall performance of the Central African Sub-regional seaports including the Cameroonian ports.</span></span></span>
文摘Aim of this paper is to characterize different risk measures in portfolio construction on seven Central and South-East European stock markets;Slovenia, Croatia, Hungary, Poland, Chez Republic, Bulgaria and Romania. Selected countries are members of EU, except Croatia and Turkey which have candidate status. Empirical part of this paper consists of three stages;at first descriptive statistic on stock returns was performed, afterwards different risk measures were employed in portfolio construction and in the last part, portfolios were tested in the out-of-sample period. Results indicate presence of extreme kurtosis and skewness in stock return series. Resulting portfolios incorporate stocks with extremely high kurtosis and stocks with negative skewness. Portfolio construction based only on risk and return results in major exposure to extreme returns and unsatisfactory portfolio out of sample results.
文摘In this paper a novel cost function based on the relationship between operation cost of unit and generation load rate is employed in an agent-based model of Trans-provincial Centralized Bidding Trading Market of East China Grid. Simulation results are compared to real data to prove that the model is correct. Further analysis on simulation results point out the way to achieve an all-win game for power market members: generation companies improve their average load rates of the units by selling their electricity in the market, which makes units' cost drop and settlement price stay lower than benchmark price. Consequently electricity-demand provinces saved expenses, and units increase their profits. In conclusion, the trans-provincial electricity market of East China Power Grid is a successive case which improves the efficiency of the electricity industry by market-oriented measures.
