We study the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside company and transaction costs when dividends occur. The management of ...We study the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside company and transaction costs when dividends occur. The management of the company controls the reinsurance rate, the timing and the amount of dividends paid out to maximize the expected total dividends paid out to the shareholders until ruin time. By solving the corresponding quasi-variational inequality, we obtain the optimal return function and the optimal strategy.展开更多
This paper considers the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside the company. The objective is to find a reinsurance policy...This paper considers the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside the company. The objective is to find a reinsurance policy and a dividend payment scheme so as to maximize the expected discounted value of the dividend payment, and the expected present value of an amount which the insurer earns until the time of ruin. By solving the corresponding constrained Hamilton-Jacobi-Bellman (HJB) equation, we obtain the value function and the optimal reinsurance policy and dividend payment.展开更多
The power and interest of industrial manufacturers are determined by their status in the relations of production.At the international level,countries see their economic and political status rise only when they climb t...The power and interest of industrial manufacturers are determined by their status in the relations of production.At the international level,countries see their economic and political status rise only when they climb the ladder in the international division of labor.As the primary production forces,science and technology are the main drivers behind such change.As new technologies give rise to new industries and restructure the international division of labor,developed countries strive to enhance the protection of their intellectual property rights(IPR)and safeguard their monopoly over core technologies.For developed countries,technological prowess holds the key to their supremacy in the global supply chain and international relations.The 19 th CPC National Congress makes clear the overarching goal in the new era is to rejuvenate the Chinese nation and turn China into a strong modern country.As an important material condition for achieving this goal,China must transition from being medium-and low-end links in the international division of labor to becoming high-end links.In this process,China will encounter backlash from developed countries that lead in the international division of labor.The recent China-US tussle over trade in high-tech goods is a case in point,and should be viewed through the lens of the relations of production and the international division of labor.The insights thus achieved will be of great significance to China’s future development.展开更多
Biochemical parameters are useful in the diagnosis of many health abnormalities in athletes. Some studies suggest training well and eating a balanced diet to improve performance. The modification of biochemical parame...Biochemical parameters are useful in the diagnosis of many health abnormalities in athletes. Some studies suggest training well and eating a balanced diet to improve performance. The modification of biochemical parameters during endurance races has not yet been studied in many African countries. Our objective was to evaluate the dietary profile and the effects of competition on the biochemical parameters of Congolese endurance athletes. The method used was the questionnaire for the food profile and blood samples were taken to measure the biochemical parameters of the athletes. A total of 64 athletes, i.e. 20 girls and 44 boys divided into two groups (group 1 or experimental group (EG), 32 endurance athletes and group 2 or control group (CG), 32 walkers who participated in a cross-sectional study in Brazzaville. The subjects were respectively 26.16 ± 2.79 years old for the EG and 27.44 ± 3.34 years old for the CG. The results indicated that quality foods were difficult to access. The main course was more consumed compared to the starter and dessert (60% of girls and 63.63 of boys). However, biochemical parameters showed a significantly lower serum creatinine concentration in EG subjects compared to CG subjects (0.86 ± 0.06 mg/dl vs 1.04 ± 0.16 mg/dl;t = ?5.95;p 0.05). Similarly, Total Cholesterol was significantly low (1.66 ± 0.34 g/l vs 2.09 ± 0.50 g/l;t = ?3.99;p < 0.000). Cholesterol concentrations of EG subjects (HDL-C) were significantly elevated (0.98 ± 0.49 g/l vs 0.48 ± 0.18 g/l;t = 5.34;p < 0.000). In conclusion, the biochemical data were normal but the food profile of the runners was unfavorable, inadequate and unbalanced. This is considered to be a performance limiting factor.展开更多
On April 13,1996,the 4th Brother CupChina International Garment YouthDesigners Competition was held inBeijing.The final competition was attendedby 36 young designers from 18 countries andregions,including the UK,Franc...On April 13,1996,the 4th Brother CupChina International Garment YouthDesigners Competition was held inBeijing.The final competition was attendedby 36 young designers from 18 countries andregions,including the UK,France,Japan,Germany,Italy,Spain,Canada,Finland,India,the US,Russia,Singapore,Malaysia,Honduras,Niger and Hongkong.展开更多
Relying on cheap labor cost advantage,China is locked in the low-end processing link of the global value chain and obtains a lower profit share.With the deepening of the international division of labor,changes in the ...Relying on cheap labor cost advantage,China is locked in the low-end processing link of the global value chain and obtains a lower profit share.With the deepening of the international division of labor,changes in the distribution of national interests and the spread of anti-globalization in some developed countries,the global value chain is undergoing a new round of large-scale reconstruction and emerging economies are trying to penetrate and extend to the high end of the global value chain.Based on the theory of industrial upgrading and global value chain,this paper focuses on the current development of Chinese apparel industry,the mechanism,development and problems of global value chain reconstruction,analyzes the relevant elements in the apparel industry value chain reconstruction,and proposes the application of data envelopment analysis(DEA)competitiveness model in the value chain reconstruction of apparel enterprises.We use the CCR(C2R)model to simulate the improvement of production efficiency.Finally,we put forward corresponding countermeasures and suggestions for the value chain reconstruction from the perspective of improving product competitiveness.展开更多
Selecting the market share,trade competitiveness index,revealed comparative advantage( RCA),and revealed competitive advantage index( CA),this paper compared the competitiveness of China and large sweet orange exporte...Selecting the market share,trade competitiveness index,revealed comparative advantage( RCA),and revealed competitive advantage index( CA),this paper compared the competitiveness of China and large sweet orange exporters,and made an empirical analysis. Results indicate that in terms of the market share,Spain has prominent advantage in competitiveness of sweet orange; in terms of the trade competitiveness index,Egypt and South Africa have higher competitiveness in the export of sweet orange; in terms of RCA and CA,Egypt has absolute international advantage in the export of sweet orange. China’s export competitiveness of sweet orange is much lower than other large sweet orange producers such as Spain,Egypt,and South Africa,and the export capacity is much lower than other large sweet orange producers. In view of current situations,it came up with recommendations for improving export competitiveness of China’s sweet orange,including expanding the market,diversifying the varieties,improving the quality,reducing the costs,strengthening cooperation of fruit farmer cooperatives,and enhancing government support.展开更多
Foreign-oriented Economy Entering a New Stage The Eighth Five-year Plan period saw the fastest development of the foreign-oriented economy in China’s chemical industry, with an accumulated import and export value of ...Foreign-oriented Economy Entering a New Stage The Eighth Five-year Plan period saw the fastest development of the foreign-oriented economy in China’s chemical industry, with an accumulated import and export value of US$100 billion, including US$38.3 billion of exports. In 1996 the total import and export value reached US$30 billion, including US$12 billion of exports. Now, more than 300 chemical enterprises and institutes have obtained foreign展开更多
Erdos Group, a large-scale enterprise group with more than 20,000 employees, was developed and expanded from Yih Ju League Cashmere Factory set up and put into production in 1981. Its "Erdos" brand, the ... Erdos Group, a large-scale enterprise group with more than 20,000 employees, was developed and expanded from Yih Ju League Cashmere Factory set up and put into production in 1981. Its "Erdos" brand, the first brand in Chinese cashmere textile industry, has won the title of "Chinese Famous Brand".……展开更多
China's pioneering the Belt and Road initiative not only provides a broad space for China's culture industry to enhance international competitiveness, but also puts forward a major project. It includes: optimi...China's pioneering the Belt and Road initiative not only provides a broad space for China's culture industry to enhance international competitiveness, but also puts forward a major project. It includes: optimize and integrate strategic resources through connectivity, cultivate export-oriented cultural enterprises to promote the main body of the industry, optimize the structure of cultural trade by expanding cultural services exports, and build win-win cooperation networks through the connections between Silk Road Cities. This will both contribute to the global distribution and resource allocation of China's culture industry, and benefit the construction of mutually beneficial and cooperative international culture industry communities, so the countries and people of the Belt and Road regions can share their cultural wealth.展开更多
Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest i...Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest importer and the largest exporter of China’s fragrance and flavor commodities.This round of tariff increasing has important impact on China’s fragrance and flavor trade.In the review,development of China’s fragrance and flavor industry and the situation of their imports and exports,especially trade between China and US,are briefly introduced;focusing on the tariff increasing of fragrance and flavor products between the two countries,the impact of trade friction to the industry is anticipated.展开更多
Geopolitics,technology and international institutions are three major areas of great power competition.In the analysis of great power relations,both the balance of power theory and the hegemony theory rely on the assu...Geopolitics,technology and international institutions are three major areas of great power competition.In the analysis of great power relations,both the balance of power theory and the hegemony theory rely on the assumption of diminishing returns and ignore the possibility of increasing returns.Increasing returns play an extensive role in geographical location,technological evolution and institutional change;accordingly,the increasing returns mechanism in great power relations is reflected in the geopolitical competition,technological competition and international institutional competition of great powers.The rational expectation that initial advantages will be transformed into long-term advantages through the mechanism of increasing returns drives great powers into competition whether they are rivals or allies.As specific mechanisms leading to increasing returns,coordination effects operate in geopolitical competition,technological competition and international institution competition;learning effects are found in technological competition and international institution competition;and adaptive expectations play a part in international institution competition.Various cases,ranging from the Anglo-Dutch rivalry over maritime hegemony in the 17th century to the current US-European competition over international investment arbitration regimes,show that great power competition derives from the logic of increasing returns.展开更多
On the 30th anniversary of the Chengdu-Phoenix sister-city relationship,Laura Pastor,vice-mayor of Phoenix,Arizona,in the United States,led a delegation to Chengdu.Pastor announced during the March 19 meeting with Che...On the 30th anniversary of the Chengdu-Phoenix sister-city relationship,Laura Pastor,vice-mayor of Phoenix,Arizona,in the United States,led a delegation to Chengdu.Pastor announced during the March 19 meeting with Chengdu Vice-Mayor Liu Xiaoliu that a photograph taken by a Chengdu disabled artist had won the first展开更多
China is the most productive seaweed farming country in the world and her seaweed imports and exports have a significant impact on global seaweed trade commodities and food security.Nevertheless,few studies had delved...China is the most productive seaweed farming country in the world and her seaweed imports and exports have a significant impact on global seaweed trade commodities and food security.Nevertheless,few studies had delved into the main characteristics and development of China’s seaweed farming industry.This paper aims to narrow this research gap by analyzing trade patterns in China’s seaweed products and the international competitiveness of seaweed product by using the international market share index(IMS),the trade competitiveness index(TC),and revealed comparative advantage index(RCA)from 2002 to 2017.The results showed that Japan,the Association of Southeast Asian Nations(ASEAN),Chile,Peru,and the Republic of Korea are China’s main trade partners,the total trade value of China’s seaweed products has grown rapidly,its imports have gradually exceeded exports,the trade deficit continues to expand,and its competitiveness keeps decreasing.The reasons for this trend may include the changing seaweed trade commodity structure,product differentiation,increased government support in competing countries,and trade barriers among the trade partners.We propose actively expanding international trade markets,establishing a strong seaweed product processing industry to develop high value-added seaweed products,optimizing the trade commodity structure,and differentiating of seaweed products to improve the competitiveness of China’s seaweed products.展开更多
This paper analyses Chinese manufacturing performance from a multilateral perspective in 1980-2004. The PPPs, relative price levels, labor productivity and ULCs in multilateral comparison are used to explore Chinese m...This paper analyses Chinese manufacturing performance from a multilateral perspective in 1980-2004. The PPPs, relative price levels, labor productivity and ULCs in multilateral comparison are used to explore Chinese manufacturing competitiveness. The PPPs are based on the benchmark year 1997. These results are compared to the previous estimates based on the 1987 benchmark. The findings are as follows: the PPPs derived by the different approaches in the base year 1997 in Chinese manufacturing are approximately 3.7 yuan/international $. Since the middle 1980s, China's relative price level has been the lowest among all five countries and declined during the period of time. Its ULC has also been declining with some fluctuation. In the 1980s, there was "no catch-up rapid growth" in its labor productivity. However, after 1992, a beginning has been made with catch up distinctly, though from a very low level.展开更多
基金Supported by the National Natural Science Foundation of China(11371284)
文摘We study the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside company and transaction costs when dividends occur. The management of the company controls the reinsurance rate, the timing and the amount of dividends paid out to maximize the expected total dividends paid out to the shareholders until ruin time. By solving the corresponding quasi-variational inequality, we obtain the optimal return function and the optimal strategy.
基金Supported by the National Natural Science Foundation of China(No.10971157)the Natural Science Foundation of Xinjiang University(No.BS100102)
文摘This paper considers the dividend optimization problem for an insurance company under the consideration of internal competition between different units inside the company. The objective is to find a reinsurance policy and a dividend payment scheme so as to maximize the expected discounted value of the dividend payment, and the expected present value of an amount which the insurer earns until the time of ruin. By solving the corresponding constrained Hamilton-Jacobi-Bellman (HJB) equation, we obtain the value function and the optimal reinsurance policy and dividend payment.
文摘The power and interest of industrial manufacturers are determined by their status in the relations of production.At the international level,countries see their economic and political status rise only when they climb the ladder in the international division of labor.As the primary production forces,science and technology are the main drivers behind such change.As new technologies give rise to new industries and restructure the international division of labor,developed countries strive to enhance the protection of their intellectual property rights(IPR)and safeguard their monopoly over core technologies.For developed countries,technological prowess holds the key to their supremacy in the global supply chain and international relations.The 19 th CPC National Congress makes clear the overarching goal in the new era is to rejuvenate the Chinese nation and turn China into a strong modern country.As an important material condition for achieving this goal,China must transition from being medium-and low-end links in the international division of labor to becoming high-end links.In this process,China will encounter backlash from developed countries that lead in the international division of labor.The recent China-US tussle over trade in high-tech goods is a case in point,and should be viewed through the lens of the relations of production and the international division of labor.The insights thus achieved will be of great significance to China’s future development.
文摘Biochemical parameters are useful in the diagnosis of many health abnormalities in athletes. Some studies suggest training well and eating a balanced diet to improve performance. The modification of biochemical parameters during endurance races has not yet been studied in many African countries. Our objective was to evaluate the dietary profile and the effects of competition on the biochemical parameters of Congolese endurance athletes. The method used was the questionnaire for the food profile and blood samples were taken to measure the biochemical parameters of the athletes. A total of 64 athletes, i.e. 20 girls and 44 boys divided into two groups (group 1 or experimental group (EG), 32 endurance athletes and group 2 or control group (CG), 32 walkers who participated in a cross-sectional study in Brazzaville. The subjects were respectively 26.16 ± 2.79 years old for the EG and 27.44 ± 3.34 years old for the CG. The results indicated that quality foods were difficult to access. The main course was more consumed compared to the starter and dessert (60% of girls and 63.63 of boys). However, biochemical parameters showed a significantly lower serum creatinine concentration in EG subjects compared to CG subjects (0.86 ± 0.06 mg/dl vs 1.04 ± 0.16 mg/dl;t = ?5.95;p 0.05). Similarly, Total Cholesterol was significantly low (1.66 ± 0.34 g/l vs 2.09 ± 0.50 g/l;t = ?3.99;p < 0.000). Cholesterol concentrations of EG subjects (HDL-C) were significantly elevated (0.98 ± 0.49 g/l vs 0.48 ± 0.18 g/l;t = 5.34;p < 0.000). In conclusion, the biochemical data were normal but the food profile of the runners was unfavorable, inadequate and unbalanced. This is considered to be a performance limiting factor.
文摘On April 13,1996,the 4th Brother CupChina International Garment YouthDesigners Competition was held inBeijing.The final competition was attendedby 36 young designers from 18 countries andregions,including the UK,France,Japan,Germany,Italy,Spain,Canada,Finland,India,the US,Russia,Singapore,Malaysia,Honduras,Niger and Hongkong.
基金Shanghai Municipal People's Government Development Research Center, China(No. 2017-YJ-M06)。
文摘Relying on cheap labor cost advantage,China is locked in the low-end processing link of the global value chain and obtains a lower profit share.With the deepening of the international division of labor,changes in the distribution of national interests and the spread of anti-globalization in some developed countries,the global value chain is undergoing a new round of large-scale reconstruction and emerging economies are trying to penetrate and extend to the high end of the global value chain.Based on the theory of industrial upgrading and global value chain,this paper focuses on the current development of Chinese apparel industry,the mechanism,development and problems of global value chain reconstruction,analyzes the relevant elements in the apparel industry value chain reconstruction,and proposes the application of data envelopment analysis(DEA)competitiveness model in the value chain reconstruction of apparel enterprises.We use the CCR(C2R)model to simulate the improvement of production efficiency.Finally,we put forward corresponding countermeasures and suggestions for the value chain reconstruction from the perspective of improving product competitiveness.
基金Supported by the Education Science Research"12th Five-Year Plan"Project of Jiangxi Province(14YB086)Program of Gannan Normal University(15kyw09)
文摘Selecting the market share,trade competitiveness index,revealed comparative advantage( RCA),and revealed competitive advantage index( CA),this paper compared the competitiveness of China and large sweet orange exporters,and made an empirical analysis. Results indicate that in terms of the market share,Spain has prominent advantage in competitiveness of sweet orange; in terms of the trade competitiveness index,Egypt and South Africa have higher competitiveness in the export of sweet orange; in terms of RCA and CA,Egypt has absolute international advantage in the export of sweet orange. China’s export competitiveness of sweet orange is much lower than other large sweet orange producers such as Spain,Egypt,and South Africa,and the export capacity is much lower than other large sweet orange producers. In view of current situations,it came up with recommendations for improving export competitiveness of China’s sweet orange,including expanding the market,diversifying the varieties,improving the quality,reducing the costs,strengthening cooperation of fruit farmer cooperatives,and enhancing government support.
文摘Foreign-oriented Economy Entering a New Stage The Eighth Five-year Plan period saw the fastest development of the foreign-oriented economy in China’s chemical industry, with an accumulated import and export value of US$100 billion, including US$38.3 billion of exports. In 1996 the total import and export value reached US$30 billion, including US$12 billion of exports. Now, more than 300 chemical enterprises and institutes have obtained foreign
文摘 Erdos Group, a large-scale enterprise group with more than 20,000 employees, was developed and expanded from Yih Ju League Cashmere Factory set up and put into production in 1981. Its "Erdos" brand, the first brand in Chinese cashmere textile industry, has won the title of "Chinese Famous Brand".……
基金National Social Science Fund Project "On improvement of overall strength of China’s culture and competitiveness"(Project No.:13&ZD038)
文摘China's pioneering the Belt and Road initiative not only provides a broad space for China's culture industry to enhance international competitiveness, but also puts forward a major project. It includes: optimize and integrate strategic resources through connectivity, cultivate export-oriented cultural enterprises to promote the main body of the industry, optimize the structure of cultural trade by expanding cultural services exports, and build win-win cooperation networks through the connections between Silk Road Cities. This will both contribute to the global distribution and resource allocation of China's culture industry, and benefit the construction of mutually beneficial and cooperative international culture industry communities, so the countries and people of the Belt and Road regions can share their cultural wealth.
文摘Trade friction between China and US have escalated,commodities involved in China-US trade is being affected.China is important import and export market for fragrance and flavor.The United States is the third largest importer and the largest exporter of China’s fragrance and flavor commodities.This round of tariff increasing has important impact on China’s fragrance and flavor trade.In the review,development of China’s fragrance and flavor industry and the situation of their imports and exports,especially trade between China and US,are briefly introduced;focusing on the tariff increasing of fragrance and flavor products between the two countries,the impact of trade friction to the industry is anticipated.
文摘Geopolitics,technology and international institutions are three major areas of great power competition.In the analysis of great power relations,both the balance of power theory and the hegemony theory rely on the assumption of diminishing returns and ignore the possibility of increasing returns.Increasing returns play an extensive role in geographical location,technological evolution and institutional change;accordingly,the increasing returns mechanism in great power relations is reflected in the geopolitical competition,technological competition and international institutional competition of great powers.The rational expectation that initial advantages will be transformed into long-term advantages through the mechanism of increasing returns drives great powers into competition whether they are rivals or allies.As specific mechanisms leading to increasing returns,coordination effects operate in geopolitical competition,technological competition and international institution competition;learning effects are found in technological competition and international institution competition;and adaptive expectations play a part in international institution competition.Various cases,ranging from the Anglo-Dutch rivalry over maritime hegemony in the 17th century to the current US-European competition over international investment arbitration regimes,show that great power competition derives from the logic of increasing returns.
文摘On the 30th anniversary of the Chengdu-Phoenix sister-city relationship,Laura Pastor,vice-mayor of Phoenix,Arizona,in the United States,led a delegation to Chengdu.Pastor announced during the March 19 meeting with Chengdu Vice-Mayor Liu Xiaoliu that a photograph taken by a Chengdu disabled artist had won the first
基金Thanks to the financial support of the China Agriculture Research System(CARS-47-G29).
文摘China is the most productive seaweed farming country in the world and her seaweed imports and exports have a significant impact on global seaweed trade commodities and food security.Nevertheless,few studies had delved into the main characteristics and development of China’s seaweed farming industry.This paper aims to narrow this research gap by analyzing trade patterns in China’s seaweed products and the international competitiveness of seaweed product by using the international market share index(IMS),the trade competitiveness index(TC),and revealed comparative advantage index(RCA)from 2002 to 2017.The results showed that Japan,the Association of Southeast Asian Nations(ASEAN),Chile,Peru,and the Republic of Korea are China’s main trade partners,the total trade value of China’s seaweed products has grown rapidly,its imports have gradually exceeded exports,the trade deficit continues to expand,and its competitiveness keeps decreasing.The reasons for this trend may include the changing seaweed trade commodity structure,product differentiation,increased government support in competing countries,and trade barriers among the trade partners.We propose actively expanding international trade markets,establishing a strong seaweed product processing industry to develop high value-added seaweed products,optimizing the trade commodity structure,and differentiating of seaweed products to improve the competitiveness of China’s seaweed products.
基金This work was supported by the National Natural Science Foundation of China under Grant 70173029, 70571004 and 70531010.
文摘This paper analyses Chinese manufacturing performance from a multilateral perspective in 1980-2004. The PPPs, relative price levels, labor productivity and ULCs in multilateral comparison are used to explore Chinese manufacturing competitiveness. The PPPs are based on the benchmark year 1997. These results are compared to the previous estimates based on the 1987 benchmark. The findings are as follows: the PPPs derived by the different approaches in the base year 1997 in Chinese manufacturing are approximately 3.7 yuan/international $. Since the middle 1980s, China's relative price level has been the lowest among all five countries and declined during the period of time. Its ULC has also been declining with some fluctuation. In the 1980s, there was "no catch-up rapid growth" in its labor productivity. However, after 1992, a beginning has been made with catch up distinctly, though from a very low level.