A broadened causality in variance approach to assess the risk dynamics between crude oil prices and the Jordanian stock market

Within the new developed causality-in-variance approach, this paper builds up a broad methodological framework to more accurately capture the risk spillover effects between global oil prices and Jordanian stock market returns during the period 1 March 2003–31 January 2014. The sample period is divided, on the basis of the 2008 financial crisis, into pre-crisis and post-crisis periods. Results for the pre-crisis period show a lack of risk spillovers between global oil and the Jordanian stock market. After the crisis, however, we find evidence for one-way risk spillover running from the oil market. These findings have implications for the design of appropriate asset allocation and regulatory policies to manage risk spillover effects.     

刀具振动纠偏新方法

为使刀尖振动方向与工件运动方向平行,对超声振动切削刀具运动轨迹进行了研究。基于弯曲振动刨削,提出了一种刀具振动纠偏新方法。该方法通过测量已加工表面与工件运动方向偏角可以推导出刀尖振动方向与工件运动方向偏角,根据计算出的偏角添加一个夹角为的斜块可以纠正偏角对加工过程的影响。对该方法进行了理论分析,并通过实验验证了该方法的可行性,实验结果表明该方法可以有效地纠正刀具振动方向和工件运动方向偏角,从而能保证超声振动切削加工质量。     

SB型海底用特种压力管道旋转法兰的设计

分析了SB型海底用特种压力管道旋转法兰的结构创新点,介绍了设计中应解决的关键问题及相应的设计方案。所设计的SB型海底用特种压力管道旋转法兰将传统海底用压力管道法兰的整体式结构变为分体组合式可旋转结构,解决了高磅级大规格海底用压力管道法兰在深水环境下安装维护不便的难题,对法兰采用表面火焰喷涂铝、锌及其合金防腐层,选用R49号八角形密封垫环,具备长期有效、安全可靠的防泄漏、抗腐蚀能力,达到了国内同类产品技术的先进水平,在国内、特别是国际市场上有巨大的市场潜力。     

Population structure and condition of Siberian sturgeon stock: Acipenser baeri Brandt in the River Basin of the Ob

This paper summarises materials from various sources and the author’s research on the biology of the Siberian sturgeon in the Ob basin. The paper evaluates the significance of various parts of this river system for habitation and formation of sturgeon stock. It has been possible to distinguish semi-diadromous sturgeon and four local (indigenous) schools, according to the difference in morphological characteristics and peculiarities of the Ob basin ecology. Semi-diadromous sturgeon spends most of their life in the lower reach of the Ob and in the Gulf of Ob and migrates to spawn to the upper Ob. These spawning migrations cover a distance of 2500?km or more. Spawners from local schools do not make such long spawning migrations. It is noted that at least two isolated schools have been formed higher up the dams of the hydroelectric power stations on the Ob and the Irtysh. Today, the stock of semi-diadromous sturgeon is extremely low, but this school used to be the most abundant. The population of young fish in the middle-Ob school is of high density. But it has an extremely high mortality rate. The Chulym school of Ob sturgeon is in the best condition. Its population increases from the waters of two sturgeon and nelma reserves.     

Transfers,Contracts and Regulation: A New Institutional Economics Perspective on the Changing Provision of Social Housing in Britain

Social housing policy in the UK mirrors wider processes associated with shifts in broad welfare regimes. Social housing has moved from dominance by state housing provision to the funding of new investment through voluntary sector housing associations to what is now a greater focus on the regulation and private financing of these not-for-profit bodies. If these trends run their course, we are likely to see a range of not-for-profit bodies providing non-market housing in a highly regulated quasi-market. This paper examines these issues through the lens of new institutional economics, which it is believed can provide important insights into the fundamental contractual and regulatory relationships that are coming to dominate social housing from the perspective of the key actors in the sector (not-for-profit housing organisations, their tenants, private lenders and the regulatory state). The paper draws on evidence recently collected from a study evaluating more than 100 stock transfer organisations that inherited ex-public housing in Scotland, including 12 detailed case studies. The paper concludes that social housing stakeholders need to be aware of the risks (and their management) faced across the sector and that the state needs to have clear objectives for social housing and coherent policy instruments to achieve those ends.     

北京地区园林苗木产业的发展思路

分析了北京园林苗木产业的现状和面临的困境，以及行业需求与政策导向对园林苗木产业的启示。提出了北京地区园林苗木产业的发展思路，存在经营地域的调整、经营方向的重新定位、国外新奇植物品种和北京乡土植物的引入利用等问题。为北京的苗木经营者提供一些启示。     

原料场半门式刮板取料机智能化运行改造

针对邯钢原料场自然减员严重以及料场生产环境恶劣情况,提出了刮板取料机智能化操作的改进措施。改进后实现了取料机岗位无人化值守,提高了生产效率,改善了料场作业环境,把操作人员从料场闷热、高粉尘的恶劣环境中解脱了出来。     

Wavelet analysis of stock returns and aggregate economic activity

The relationship between stock market returns and economic activity is investigated using signal decomposition techniques based on wavelet analysis. After the application of the maximum overlap discrete wavelet transform (MODWT) to the DJIA stock price index and the industrial production index for the US over the period 1961:1-2006:10 wavelet variance and cross-correlations analyses are used to investigate the scaling properties of the series and the lead/lag relationship between them at different time scales. The results show that stock market returns tend to lead the level of economic activity, but only at the highest scales (lowest frequencies) corresponding to periods of 16 months and longer, and that the leading period increases as the wavelet time scale increases.     

长江电力股份公司改制上市的深远影响

实现大型水电工程上市，是我国投融资体制改革的一种积极探索，是大型水电工程建设融资模式的制度创新。长江电力股份公司改制上市过程中解决了3个难题：一是上市资产的收益问题；二是部分发挥效益的在建工程资产收购问题；三是水电工程社会功能与经济功能的关系。长江电力股份公司已于2003年11月顺利上市。     

Quick and precise clustering of arbitrarily shaped flat patterns based on stringy effect

Grouping a given number of arbitrarily shaped flat patterns to form a cluster which occupies minimal-area convex enclosure is very useful in solving cutting stock problem. This study is aimed at improving the effectiveness of conventional clustering processes by incorporating a new technique for the determination of optimal conditions for the sliding process. The new technique is referred to as ‘stringy effect’ which is based on minimizing the distance between centroids of the patterns during clustering. The efficiency of the proposed method is shown with the help of some typical multiple flat patterns.