China Petroleum Technology & Development Corporation (CPTDC), a wholly owned subsidiary company of China National Petroleum Corporation (CNPC), is China's largest multinational company specializing in the manu...China Petroleum Technology & Development Corporation (CPTDC), a wholly owned subsidiary company of China National Petroleum Corporation (CNPC), is China's largest multinational company specializing in the manufacturing and supply of petroleum and petrochemical material, equipment and technology.展开更多
This paper discusses the Optimum Quality Level （OQL） controlling under the situation of competition and monopoly. While analyzing traditional OQL, we propose a new concept-Opportunity Revenue （OR）-to analyze the p...This paper discusses the Optimum Quality Level （OQL） controlling under the situation of competition and monopoly. While analyzing traditional OQL, we propose a new concept-Opportunity Revenue （OR）-to analyze the principle how enterprise pursues excellent quality to develop quality competition for OR. We further discuss how to decide Optimum Quality in monopoly market.展开更多
Factors affecting rice quality and their impacts on market price were investigated in this study. On-farm survey and market survey was undertaken in three selected sites namely Kunming, Dali, and Xishuangbanna in Yunn...Factors affecting rice quality and their impacts on market price were investigated in this study. On-farm survey and market survey was undertaken in three selected sites namely Kunming, Dali, and Xishuangbanna in Yunnan Province, China. Market sampling was conducted to determine important rice quality characteristics. Sixty milled rice samples were collected from domestic markets of the three sites during a period of Mar to Apr in 1994. The grain physicochemical properties of the milled rice samples were analyzed on the basis of Chinese Agricultural Ministry Standard for testing rice quality. A hedonic price model (implicit price model) was further employed to quantify relationships between quality characteristics and market prices of rice. The model can be expressed mathematically as the following function (1) This function shows that the average price paid by consumer for different grades of rice with attribute Xj. Using the ordinary least square (OLS) regression of observed market prices on measures展开更多
In the wake of the inflow of international capital into China’s bicycle industry in the past decade, China’s domestic bicycle market is seeing fiercer competition, with production exceeding sales. The Phoenix Brand ...In the wake of the inflow of international capital into China’s bicycle industry in the past decade, China’s domestic bicycle market is seeing fiercer competition, with production exceeding sales. The Phoenix Brand bicycle, one of China’s ten famous brands, has been maintaining a high market share on the domestic market over the last展开更多
Foton Motors has, through its innovative technology, marketing and management, achieved rapid development that has gained it entry into the international auto market. Its products have created for Foton a worldwide re...Foton Motors has, through its innovative technology, marketing and management, achieved rapid development that has gained it entry into the international auto market. Its products have created for Foton a worldwide reputation for excellence and supreme quality.展开更多
This paper investigates the impact of market quality on volatility asymmetry of CSI 300 index futures by using short-and long-run causality measures proposed by Dufour et al.(2012).We use a high-frequency-based noise ...This paper investigates the impact of market quality on volatility asymmetry of CSI 300 index futures by using short-and long-run causality measures proposed by Dufour et al.(2012).We use a high-frequency-based noise variance estimator as the comprehensive proxy for market quality and find that volatility asymmetry is closely related to market quality.Specifically,in the period of poor market quality,the volatility asymmetry will vanish or even be reversed,which is mainly due to the sharp decline of the leverage effects.Moreover,the volatility feedback effect will be enhanced while the leverage effect will be weakened if the noise variance is taken into consideration in the causal analysis.Finally,we use other market quality indices as auxiliary variables in the robustness analysis and get similar results.展开更多
Everbright Securities Ltd. erroneously submitted huge quantities of buy orders on SSE180 constituent stocks from 11：05 through 11：07 on 16 August 2013. This fat finger accident had a pronounced impact on the Chinese...Everbright Securities Ltd. erroneously submitted huge quantities of buy orders on SSE180 constituent stocks from 11：05 through 11：07 on 16 August 2013. This fat finger accident had a pronounced impact on the Chinese stock markets. This paper uses the accident to study market quality and investors＇ responses. We show that the Chinese stock markets were robust enough to stand the trial, exhibiting deep depths and strong resiliency. However, the markets performed poorly in terms of aggregating information because there were large price swings after the erroneous orders were executed. Moreover, investors quickly change their beliefs as to the reasons to the dramatic price jumps, consistent with information cascade theory.展开更多
文摘China Petroleum Technology & Development Corporation (CPTDC), a wholly owned subsidiary company of China National Petroleum Corporation (CNPC), is China's largest multinational company specializing in the manufacturing and supply of petroleum and petrochemical material, equipment and technology.
文摘This paper discusses the Optimum Quality Level （OQL） controlling under the situation of competition and monopoly. While analyzing traditional OQL, we propose a new concept-Opportunity Revenue （OR）-to analyze the principle how enterprise pursues excellent quality to develop quality competition for OR. We further discuss how to decide Optimum Quality in monopoly market.
文摘Factors affecting rice quality and their impacts on market price were investigated in this study. On-farm survey and market survey was undertaken in three selected sites namely Kunming, Dali, and Xishuangbanna in Yunnan Province, China. Market sampling was conducted to determine important rice quality characteristics. Sixty milled rice samples were collected from domestic markets of the three sites during a period of Mar to Apr in 1994. The grain physicochemical properties of the milled rice samples were analyzed on the basis of Chinese Agricultural Ministry Standard for testing rice quality. A hedonic price model (implicit price model) was further employed to quantify relationships between quality characteristics and market prices of rice. The model can be expressed mathematically as the following function (1) This function shows that the average price paid by consumer for different grades of rice with attribute Xj. Using the ordinary least square (OLS) regression of observed market prices on measures
文摘In the wake of the inflow of international capital into China’s bicycle industry in the past decade, China’s domestic bicycle market is seeing fiercer competition, with production exceeding sales. The Phoenix Brand bicycle, one of China’s ten famous brands, has been maintaining a high market share on the domestic market over the last
文摘Foton Motors has, through its innovative technology, marketing and management, achieved rapid development that has gained it entry into the international auto market. Its products have created for Foton a worldwide reputation for excellence and supreme quality.
基金The work was supported by the Humanities and Social Sciences grant of the Chinese Ministry of Education(No.17YJA790033).
文摘This paper investigates the impact of market quality on volatility asymmetry of CSI 300 index futures by using short-and long-run causality measures proposed by Dufour et al.(2012).We use a high-frequency-based noise variance estimator as the comprehensive proxy for market quality and find that volatility asymmetry is closely related to market quality.Specifically,in the period of poor market quality,the volatility asymmetry will vanish or even be reversed,which is mainly due to the sharp decline of the leverage effects.Moreover,the volatility feedback effect will be enhanced while the leverage effect will be weakened if the noise variance is taken into consideration in the causal analysis.Finally,we use other market quality indices as auxiliary variables in the robustness analysis and get similar results.
基金We gratefully acknowledge the support by National Natural Science Foundation of China through grants 71202146 and 71402028. We thank the Executive Editor-in-Chief and two anonymous referees for helpful comments.
文摘Everbright Securities Ltd. erroneously submitted huge quantities of buy orders on SSE180 constituent stocks from 11：05 through 11：07 on 16 August 2013. This fat finger accident had a pronounced impact on the Chinese stock markets. This paper uses the accident to study market quality and investors＇ responses. We show that the Chinese stock markets were robust enough to stand the trial, exhibiting deep depths and strong resiliency. However, the markets performed poorly in terms of aggregating information because there were large price swings after the erroneous orders were executed. Moreover, investors quickly change their beliefs as to the reasons to the dramatic price jumps, consistent with information cascade theory.
