China will face some structural challenges in the next five years. Global interest rates will likely rise. The labor force in China is shrinldng. Property and infrastructure investments face constraints as growth is ...China will face some structural challenges in the next five years. Global interest rates will likely rise. The labor force in China is shrinldng. Property and infrastructure investments face constraints as growth is driven. Financial risks have reached alarming levels.展开更多
We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm...We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm’s survival,supporting at the microeconomic level New Keynesian findings of the nonlinear inflation effect on output growth.Lower inflation increasing the firm’s expected rate of return can raise its mean year returns and decrease its default probability.Higher inflation,decreasing the expected rate return,makes the opposite effect.The magnitude of the adverse effect depends on the firm strength:for a steady firm,this effect is small,whereas for a weaker firm,it can be fatal.EMM is the only model taking account of inflation.It can be useful for banks or insurance companies estimating credit risks of commercial borrowers over the debt maturity,and for the firm’s management planning long-term business operations.展开更多
针对成败型系统在研制阶段的动态增长的可靠性评估问题,依据前期可靠性增长试验中多阶段的试验信息和专家经验,提出了基于新Dirichlet先验分布的可靠性增长的Bayes评估方法.该方法根据已有的不同阶段试验信息,利用离散AMSAA(Army Materi...针对成败型系统在研制阶段的动态增长的可靠性评估问题,依据前期可靠性增长试验中多阶段的试验信息和专家经验,提出了基于新Dirichlet先验分布的可靠性增长的Bayes评估方法.该方法根据已有的不同阶段试验信息,利用离散AMSAA(Army Material System Analysis Activity)可靠性增长模型描述可靠性增长试验中不同阶段可靠性的增长趋势,并对各个阶段的可靠性进行评估;针对下一阶段建立基于新Dirichlet分布的可靠性先验分布,并根据下一阶段可靠度的估计值采用最大熵模型给出先验分布参数估计;在获得现场试验数据的条件下,给出下一阶段的可靠度后验估计,并讨论不同区间范围对后验可靠性的影响.最后通过实例分析,表明相较于直接利用离散AMSAA模型和Beta先验分布,该方法在合适的专家经验的指导下能够给出更为准确的可靠性评估.展开更多
This research is examining the degree of implementation of the attributes of exponential organization by Jordanian services companies listed on Amman Stock Exchange(ASE);around 68 companies will be examined,through th...This research is examining the degree of implementation of the attributes of exponential organization by Jordanian services companies listed on Amman Stock Exchange(ASE);around 68 companies will be examined,through their annual changes of their increase on their budget over the last 11 years.The change and increase of their annual budgets or the total value of these companies will be a great indicator for exponential trend and behaviour of these companies.The study is an attempt to examine the degree that companies listed in ASE follow internal characteristics of EXOs developed by Ismail Salim and do the capital structure of EXOs differed from the capital structure listed in ASE.展开更多
文摘China will face some structural challenges in the next five years. Global interest rates will likely rise. The labor force in China is shrinldng. Property and infrastructure investments face constraints as growth is driven. Financial risks have reached alarming levels.
基金The author is infinitely thankful to his friend and colleague M.Rubinstein for valuable discussions and an invariable interest to his work.The author is also thankful to C.Miller for his high estimation of the author’s efforts.Of course,all errors are author’s full responsibility.
文摘We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm’s survival,supporting at the microeconomic level New Keynesian findings of the nonlinear inflation effect on output growth.Lower inflation increasing the firm’s expected rate of return can raise its mean year returns and decrease its default probability.Higher inflation,decreasing the expected rate return,makes the opposite effect.The magnitude of the adverse effect depends on the firm strength:for a steady firm,this effect is small,whereas for a weaker firm,it can be fatal.EMM is the only model taking account of inflation.It can be useful for banks or insurance companies estimating credit risks of commercial borrowers over the debt maturity,and for the firm’s management planning long-term business operations.
文摘针对成败型系统在研制阶段的动态增长的可靠性评估问题,依据前期可靠性增长试验中多阶段的试验信息和专家经验,提出了基于新Dirichlet先验分布的可靠性增长的Bayes评估方法.该方法根据已有的不同阶段试验信息,利用离散AMSAA(Army Material System Analysis Activity)可靠性增长模型描述可靠性增长试验中不同阶段可靠性的增长趋势,并对各个阶段的可靠性进行评估;针对下一阶段建立基于新Dirichlet分布的可靠性先验分布,并根据下一阶段可靠度的估计值采用最大熵模型给出先验分布参数估计;在获得现场试验数据的条件下,给出下一阶段的可靠度后验估计,并讨论不同区间范围对后验可靠性的影响.最后通过实例分析,表明相较于直接利用离散AMSAA模型和Beta先验分布,该方法在合适的专家经验的指导下能够给出更为准确的可靠性评估.
文摘This research is examining the degree of implementation of the attributes of exponential organization by Jordanian services companies listed on Amman Stock Exchange(ASE);around 68 companies will be examined,through their annual changes of their increase on their budget over the last 11 years.The change and increase of their annual budgets or the total value of these companies will be a great indicator for exponential trend and behaviour of these companies.The study is an attempt to examine the degree that companies listed in ASE follow internal characteristics of EXOs developed by Ismail Salim and do the capital structure of EXOs differed from the capital structure listed in ASE.
