文章运用逐步最小二乘回归、分位数回归、灰色预测模型构成多模型联用方法,系统评测企业研究与开发(research and development,R&D)经费投入的影响机制及未来趋势。研究结果表明:基于多模型联用的评测方法,可精准直观地评测科技企业...文章运用逐步最小二乘回归、分位数回归、灰色预测模型构成多模型联用方法,系统评测企业研究与开发(research and development,R&D)经费投入的影响机制及未来趋势。研究结果表明:基于多模型联用的评测方法,可精准直观地评测科技企业R&D经费投入的现状;地区生产水平、政府财政科技拨款、企业投入是驱动R&D经费增长的核心因素;政府财政支持具有跨层级的持续有效性,其回归系数稳定在0.953~1.085之间,凸显政策端对创新投入的稳定撬动作用;部分企业未来5年增速可能回调3.2%~5.7%,提示过度依赖单一主体的结构性风险。该文提出构建梯度化政策体系,强化财政支持的普惠性、稳定性,推动大中小企业协同创新等建议,为区域创新政策制定和企业研发投入优化提供理论方法支撑。展开更多
In this paper,we study the optimal investment problem of an insurer whose surplus process follows the diffusion approximation of the classical Cramer-Lundberg model.Investment in the foreign markets is allowed,and the...In this paper,we study the optimal investment problem of an insurer whose surplus process follows the diffusion approximation of the classical Cramer-Lundberg model.Investment in the foreign markets is allowed,and therefore,the foreign exchange rate model is incorporated.Under the allowing of selling and borrowing,the problem of maximizing the expected exponential utility of terminal wealth is studied.By solving the corresponding Hamilton-Jacobi-Bellman equations,the optimal investment strategies and value functions are obtained.Finally,numerical analysis is presented.展开更多
By the reality of investment in China, a fished inv es tment model is obtained and modified by Hicks multiplicator-accelerator model. It preferable explains the status quo of investment in China. In China, The valu e ...By the reality of investment in China, a fished inv es tment model is obtained and modified by Hicks multiplicator-accelerator model. It preferable explains the status quo of investment in China. In China, The valu e of investment in period t is not only having relation to the investment of per iod t-1 and Gross Domestic Products of period t-1 (as the model of Hicks and S amuelson described) but also having some relation to the investment of period t -2.This is the reason that the model of Hicks or Samuelson can’t use in China d irectly. Then the model is analyzed by VAR(Vector Autoregressive) system. The VA R is a new model of macro-economics measurement. The advantage of VAR is that i t is avoid some complex problems as measuring off the endogenous variable and ex ogenous variable and the identifiability of model. It is composed of some dynami c equations. And it regards all the variables in equations as endogenous variabl es. By using statistical data in China a model about Gross Domestic Product and Investment is obtained and a forecasting is designed. The correlation is cal culated using Matlab. The results of the correlation of Gross Domestic Products, Investment and Consumption can analyze the rationality of policy of country and forecast the trend of economics. And it is profitable for exactly understand th e circumstance of investment. The shortage of this paper is that the gross of st atistical data is too small, only the data after the year of 1978 is available.展开更多
In this paper, an empirical research on the system risks of the Shenzhen Stock Market using capital asset pricing model is conducted. The typical composition stocks on Shenzhen Stock Market in 1998 are taken as sample...In this paper, an empirical research on the system risks of the Shenzhen Stock Market using capital asset pricing model is conducted. The typical composition stocks on Shenzhen Stock Market in 1998 are taken as samples. Some quantitative analysis results are got, which can measure the risk of stock market.展开更多
文摘文章运用逐步最小二乘回归、分位数回归、灰色预测模型构成多模型联用方法,系统评测企业研究与开发(research and development,R&D)经费投入的影响机制及未来趋势。研究结果表明:基于多模型联用的评测方法,可精准直观地评测科技企业R&D经费投入的现状;地区生产水平、政府财政科技拨款、企业投入是驱动R&D经费增长的核心因素;政府财政支持具有跨层级的持续有效性,其回归系数稳定在0.953~1.085之间,凸显政策端对创新投入的稳定撬动作用;部分企业未来5年增速可能回调3.2%~5.7%,提示过度依赖单一主体的结构性风险。该文提出构建梯度化政策体系,强化财政支持的普惠性、稳定性,推动大中小企业协同创新等建议,为区域创新政策制定和企业研发投入优化提供理论方法支撑。
基金supported by the National Natural Science Foundation of China(Grant No.12301603).
文摘In this paper,we study the optimal investment problem of an insurer whose surplus process follows the diffusion approximation of the classical Cramer-Lundberg model.Investment in the foreign markets is allowed,and therefore,the foreign exchange rate model is incorporated.Under the allowing of selling and borrowing,the problem of maximizing the expected exponential utility of terminal wealth is studied.By solving the corresponding Hamilton-Jacobi-Bellman equations,the optimal investment strategies and value functions are obtained.Finally,numerical analysis is presented.
文摘By the reality of investment in China, a fished inv es tment model is obtained and modified by Hicks multiplicator-accelerator model. It preferable explains the status quo of investment in China. In China, The valu e of investment in period t is not only having relation to the investment of per iod t-1 and Gross Domestic Products of period t-1 (as the model of Hicks and S amuelson described) but also having some relation to the investment of period t -2.This is the reason that the model of Hicks or Samuelson can’t use in China d irectly. Then the model is analyzed by VAR(Vector Autoregressive) system. The VA R is a new model of macro-economics measurement. The advantage of VAR is that i t is avoid some complex problems as measuring off the endogenous variable and ex ogenous variable and the identifiability of model. It is composed of some dynami c equations. And it regards all the variables in equations as endogenous variabl es. By using statistical data in China a model about Gross Domestic Product and Investment is obtained and a forecasting is designed. The correlation is cal culated using Matlab. The results of the correlation of Gross Domestic Products, Investment and Consumption can analyze the rationality of policy of country and forecast the trend of economics. And it is profitable for exactly understand th e circumstance of investment. The shortage of this paper is that the gross of st atistical data is too small, only the data after the year of 1978 is available.
文摘In this paper, an empirical research on the system risks of the Shenzhen Stock Market using capital asset pricing model is conducted. The typical composition stocks on Shenzhen Stock Market in 1998 are taken as samples. Some quantitative analysis results are got, which can measure the risk of stock market.
