The Goodgrant Foundation is a charitable organization that wants to improve education performance of undergraduates attending colleges and universities in the US. So the foundation plans to contribute a total of US 50...The Goodgrant Foundation is a charitable organization that wants to improve education performance of undergraduates attending colleges and universities in the US. So the foundation plans to contribute a total of US 50 million for a suitable team of schools per year under the condition of avoiding repeated other large grant organizations’ investment. The DEA (Data Estimate Analysis) model is developed to determine an optimal investment strategy for the Goodgrant Foundation. In this paper, two questions were solved: how to choose a suitable team of schools and how to allocate the investment. Before the establishment of the model, the EXCEL software is used to preprocess data. Then the DEA model which includes two models in the paper is developed. For the first question, the CCR model is established to rank schools which used efficiency from DEAP 2.1. For the second question, the resource allocation model is established to allocate investment amount by weights of allocation from MATLAB software. Accordingly, the optimal investment strategy is received for the Goodgrant Foundation. Through the analysis above, 23 from 293 schools are selected to invest. Then the schools are ranked and the investment of US 50 million for 23 schools is allocated.展开更多
This study focuses on investigating the optimal investment strategy for an optimization problem with delay using the uncertainty theory. The financial market is composed of a risk-free asset and a risk asset with an u...This study focuses on investigating the optimal investment strategy for an optimization problem with delay using the uncertainty theory. The financial market is composed of a risk-free asset and a risk asset with an uncertain price process described by an uncertain differential equation. An optimization problem is assumed that its objective is a nonlinear function of decision variable. By deriving the equation of optimality, an analytical solution is obtained for the optimal delay investment strategy, and the optimal delay value function. Finally, an economic analysis and numerical sensitivity analysis are conducted to evaluate the research results.展开更多
This paper considers a robust optimal reinsurance-investment problem for an insurer with mispricing and model ambiguity. The surplus process is described by a classical Cramér-Lunderg model and the financial mark...This paper considers a robust optimal reinsurance-investment problem for an insurer with mispricing and model ambiguity. The surplus process is described by a classical Cramér-Lunderg model and the financial market contains a market index, a risk-free asset and a pair of mispriced stocks, where the expected return rate of the stocks and the mispricing follow mean reverting processes which take into account liquidity constraints. In particular, both the insurance and reinsurance premium are assumed to be calculated via the variance premium principle. By employing the dynamic programming approach, we derive the explicit optimal robust reinsurance-investment strategy and the optimal value function.展开更多
With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and...With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and innovation has been further stimulated,people's awareness of intellectual property rights has been further enhanced,and the value of intellectual property rights has been further recognized by people.As a new economic form,"intellectual property economy"plays an increasingly important role in our socialist market economy.At the same time,China's intellectual property still faces some prominent problems,especially in the field of intellectual property investment and financing,such as difficult valuation,management and liquidation.From the perspective of the implementation of intellectual property strategy and starting from the investment and financing of intellectual property rights of small and medium-sized enterprises,this paper introduces the basic concepts of intellectual property investment and financing,the development status and existing problems of intellectual property investment and financing of small and medium-sized enterprises,and puts forward some suggestions for improving the investment and financing policy of intellectual property rights.展开更多
输电网的规划与当地城镇经济发展规划密切相关,而城镇经济发展面临许多不确定性,因此输电网建设成本和预期收益面临不确定性。提出一种考虑预期不确定性和非预期不确定性的输电网多阶段随机规划模型,首先将输电网规划时长分为多个阶段,...输电网的规划与当地城镇经济发展规划密切相关,而城镇经济发展面临许多不确定性,因此输电网建设成本和预期收益面临不确定性。提出一种考虑预期不确定性和非预期不确定性的输电网多阶段随机规划模型,首先将输电网规划时长分为多个阶段,考虑源荷的预期不确定性,基于信息间隙决策理论(information gap decision theory,IGDT)建立输电网多阶段随机规划模型,为应对突发的非预期不确定性,采用模型预测控制理论降低非预期不确定因素对投资额的影响,最后以某一地区输电网为算例,验证所建立模型的有效性,并分析风险投机策略和风险规避策略对投资额的影响。展开更多
Circular economy adapts to large-scale production, has higher requirement on technical level, and possesses positive externality. There- fore, circular economy requires a lot of financial support. Facing investment an...Circular economy adapts to large-scale production, has higher requirement on technical level, and possesses positive externality. There- fore, circular economy requires a lot of financial support. Facing investment and financing problems of circular economy by enterprise, the govern- ment should strengthen the regulatory role, increase investment support on circular economy, strengthen the bank's green credit business, reduce barriers to business loans, diversify financing channels for enterprises, guide social investment's flow direction, and promote circular economy form- ing larger scale, thereby providing policy support for building a resource-saving and environment-friendly society.展开更多
文摘The Goodgrant Foundation is a charitable organization that wants to improve education performance of undergraduates attending colleges and universities in the US. So the foundation plans to contribute a total of US 50 million for a suitable team of schools per year under the condition of avoiding repeated other large grant organizations’ investment. The DEA (Data Estimate Analysis) model is developed to determine an optimal investment strategy for the Goodgrant Foundation. In this paper, two questions were solved: how to choose a suitable team of schools and how to allocate the investment. Before the establishment of the model, the EXCEL software is used to preprocess data. Then the DEA model which includes two models in the paper is developed. For the first question, the CCR model is established to rank schools which used efficiency from DEAP 2.1. For the second question, the resource allocation model is established to allocate investment amount by weights of allocation from MATLAB software. Accordingly, the optimal investment strategy is received for the Goodgrant Foundation. Through the analysis above, 23 from 293 schools are selected to invest. Then the schools are ranked and the investment of US 50 million for 23 schools is allocated.
文摘This study focuses on investigating the optimal investment strategy for an optimization problem with delay using the uncertainty theory. The financial market is composed of a risk-free asset and a risk asset with an uncertain price process described by an uncertain differential equation. An optimization problem is assumed that its objective is a nonlinear function of decision variable. By deriving the equation of optimality, an analytical solution is obtained for the optimal delay investment strategy, and the optimal delay value function. Finally, an economic analysis and numerical sensitivity analysis are conducted to evaluate the research results.
文摘This paper considers a robust optimal reinsurance-investment problem for an insurer with mispricing and model ambiguity. The surplus process is described by a classical Cramér-Lunderg model and the financial market contains a market index, a risk-free asset and a pair of mispriced stocks, where the expected return rate of the stocks and the mispricing follow mean reverting processes which take into account liquidity constraints. In particular, both the insurance and reinsurance premium are assumed to be calculated via the variance premium principle. By employing the dynamic programming approach, we derive the explicit optimal robust reinsurance-investment strategy and the optimal value function.
文摘With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and innovation has been further stimulated,people's awareness of intellectual property rights has been further enhanced,and the value of intellectual property rights has been further recognized by people.As a new economic form,"intellectual property economy"plays an increasingly important role in our socialist market economy.At the same time,China's intellectual property still faces some prominent problems,especially in the field of intellectual property investment and financing,such as difficult valuation,management and liquidation.From the perspective of the implementation of intellectual property strategy and starting from the investment and financing of intellectual property rights of small and medium-sized enterprises,this paper introduces the basic concepts of intellectual property investment and financing,the development status and existing problems of intellectual property investment and financing of small and medium-sized enterprises,and puts forward some suggestions for improving the investment and financing policy of intellectual property rights.
文摘输电网的规划与当地城镇经济发展规划密切相关,而城镇经济发展面临许多不确定性,因此输电网建设成本和预期收益面临不确定性。提出一种考虑预期不确定性和非预期不确定性的输电网多阶段随机规划模型,首先将输电网规划时长分为多个阶段,考虑源荷的预期不确定性,基于信息间隙决策理论(information gap decision theory,IGDT)建立输电网多阶段随机规划模型,为应对突发的非预期不确定性,采用模型预测控制理论降低非预期不确定因素对投资额的影响,最后以某一地区输电网为算例,验证所建立模型的有效性,并分析风险投机策略和风险规避策略对投资额的影响。
基金Supported by Research Planning Fund of Humanities and Social Sciences,Ministry of Education,China(09YJAZH005)Soft Science Research Item of Beijing Science and Technology Plan Project,China(Z131109001613006)+1 种基金Humanities and Social Sciences Fund of Beijing University of Technology,China(X5104001201301)"Research,Environment and Circular Economy"of Beijing Key Discipline,China(033000541214001)
文摘Circular economy adapts to large-scale production, has higher requirement on technical level, and possesses positive externality. There- fore, circular economy requires a lot of financial support. Facing investment and financing problems of circular economy by enterprise, the govern- ment should strengthen the regulatory role, increase investment support on circular economy, strengthen the bank's green credit business, reduce barriers to business loans, diversify financing channels for enterprises, guide social investment's flow direction, and promote circular economy form- ing larger scale, thereby providing policy support for building a resource-saving and environment-friendly society.