2009, Vol. 22 No.4
Publication date: 25 December 2009
Underwriting cycle involves from the cyclical fluctuations in insurance supply a nd demand. And the main features of underwriting cycle are the seasonal changes of underwriting profit and premium rates. The data in this paper is annual data from 1980 to 2006 in Chinese market. This study uses two methods: second-order autoregressive model and spectral analysis to test the existence of underwriting cycles in the entire non-life insurance market of China.We find that cycles do exist: the long cycle is 12.5-16.7 years and the middle cycle is 5.6 years. The results keep consistent with the ones in Asian non-life insurance market.
This paper investigates the characteristics of credit card receivables securitization and its transaction structure, and then explores its minimum capital requirement in the new Basel Accord. We find out some defects on the methods of calculations on the capital charge in the New Basel Accord and have given some suggestions together with supplementary examples. We hope that this paper can be helpful to commercial banks to fulfill the New Basel Accord better.
From a practical viewpoint, there may be a relationship of sustitute or complement between Chinese FDI and service trade. The empirical analysis finds that at the present stage, the properties of Chinese FDI and service trade deter mine the substitute relationship. The relationship reflects not only the substit ute relationship between Chinese FDI and Service Trade export but also Chinese F DI and Service Trade import。And this relationship is not significant, as it is directly related to the scales of FDI and service trade. Chinese FDI considerabl y is concentrated on commerce service, and is highly related to the space distri bution of commodity trade. So, Chinese FDI is considerably market-oriented. Mea n while, with the improvement of Chinese third industry, Chinese FDI of service tr ade will increase。Therefore, Chinese FDI and service trade will complement each other.
Serious problems of low level repeated development in China's Hi-tech Industrial Development Areas (HIDAs) are studied in this paper. Through a compr ehensive analysis, we find that the main reason lies in that the group behavior of local government's HIDA industrial policies brings about unreasonable results in the view of the whole country, i.e. repeated development and wasting resourc es. The local government's bias to the direct supporting for its HIDAs and the enterprise's behavior of seeking for lease will cause low level repeated develop ment or even the bad coin driving out the good one. Suggestions are proposed fi nally that the governments should change their strategies of HIDA development, i ncluding ceasing the direct interference to the HIDAs and making full use of the market adjusting function to keep the .good projects surviving and eliminate th e bad ones.
The research on financial distress prediction is significant to the economy. Tak ing into full account the status quo of the accounting information supply in Chi na, this paper constructs a six-category warning index system in cluding solvency, assets and liabilities management, profitability, growth, cash flow and the disclosure quality of accounting information. It compares the effe cts of early warning using BP Neural Network before and after the rank sum test, sampling the listed companies in Shenzhen and Shanghai Security Markets. The re sults show that BP neural network model has good application value to the warnin g for financial distress of China's listed companies. Especially, the accurac y of obtained classifying model is improved obviously after the rank sum test.
The group aggregation approach of interval number reciprocal compariso n matrix and interval number complementary comparison matrix are studied in this paper. First, some new concepts such as interval number reciprocal comparison m atrix,interval number complementary comparison matrix, consistent interval reciprocal comparison matrix and consistent interval complementary comparison matrix are defined. Then, according to the consistency of comparison matrix, some simple and practical linear programming models for aggregating interval number reciprocal comparison matrix and interval number complementary comparison matrix are established. Finally, a numerical example is provided to illustrate the developed models.
Corruption is a universal phenomenon and it is hard to control anywhere in the world. Although much progress has been made in fighting against corrupti on in China, there still exist austere situations. The system of protecting repo rters' rights must be established and we also ought to raise the discovery rate, strengthen the punishment and control corruption through the rule of law.
In the complex, dynamic and diverse surroundings, a cooperative relationship bet ween government and NGO has come into being. It is not a command-comply relatio nship, nor a competitive relationship in the market, but a inter-dependence rel ationship which is symbiotic, automatic and asymmetric. Analyzing the interdepen dent relationship helps to further understand the government-NGO cooperative re lationship.
Why can we successfully hold the 29th Olympic Games but at the same ti me many safety production accidents happen in China? This paper will discuss the Chinese governance model and its products. In fact, governance model includes t wo kinds: movement model and routinization model. The former has its advantages, such as centralizing all kinds of resources to support a certain program. But i t also has shortages, such as the lack of the governance resources and ability. As we know, modern market economy needs advanced routinnization model. So we sho uld make efforts to push the reconstruction of governance system and conformity of the social governance resources.
Focusing on the confusions to and shortcomings of the conclusion of th e legal relationship between the International Forwarding Agent as independent o perator and the seller of goods in the international air transportation of goods , the writer holds that this relationship shall be identified as the one of cont ract of Principle and Agent. Based on an analysis of the laws and regulations of China and the legal opinions of the scholars, the writer maintains that the con cept "Non-airplane Carrier" should be admitted. The writer also suggests to a mend the articles of relative laws and regulations. And the nature of the contra ct between the two parties shall be identified as the contract of transportation .
To protect patents in outer space, the key is domestic recognition and protection of such patents. International law does not hinder nations to protec t patents in outer space, what's more, it has provided the international protect ion of patents in outer space with an already existing institution. In the speci fic field of outer space law, some norms provide more detailed help for the prot ection of patents in outer space. However, the common heritage principle might b e interpreted to be an obstacle to the protection of patents in outer space, whi ch is heavily relied upon by those nations without space-faring capabilty when arguing against outer space patents protection. In fact, the real obstacle comes from the interest consideration of nation without space-faring capability.
The near space, the region between 20 and 100 km above the earth, offe rs new capabilities not accessible to orbiting satellites or maneuvering aircraf t. In recent years with the emergence of near space crafts and its potential mil itarization, the legal status of the near space becomes a hot issue. This articl e argues that the legal status of the near space depends on the demarcation of t he air space and the outer space. It explores international documents and state practice relating to this issue, summarizes the theoretical views and makes reco mmendations on defining the legal status of the near space.
The relationship between "science" and "humanities" is that of the performan ce of "separation" and "integration". The serious consequences of separat ion are the direct performance of the alienation of science and technology and h uman values distorted, and indirectly lead to the deterioration of ecological en vironment and global environmental crisis. It is not conducive to the sustainabl e development of human society. Sustainable development and cultural integration of science and humanities are both "rational values" and "sentimental value " of the cultural values of color, with the concept of "humanism" and "scien tific" double color to provide a basis for "science and technology culture".
According to the law of contradiction, counterproductivity exists, and the study of the theory is significant. The definition of the anti-productivity is argue d in detaile by conflict on the basis of the traditional conception of productiv ity. The existence of anti-productivity in material production process, two aspects of the practice, including the constraints of the negative factors and from the destructive power of nature.
Huajing (transmigration of souls) proposed by Qian Zhongshu is the mos t controversial issue in traditional Chinese translation theories. It inherits t raditional Chinese art philosophy on the one hand and absorbs Western aesthetics on the other. It sheds light on the art of translation in particular and illumi nates the laws of artistic creation in general. Huajing is not just a translatio n criterion; it reveals the nature of literary translation, i.e., the unity betw een original stylistic excellence and the translator's artistic recreation techn iques. Huajing is logically consistent with Qian Zhongshu's general art theories and other sporadic translation thoughts.
Chronotope theory is one of the key theories of M. Bakhtin, a noted Russian theo rist, which should give important guide in understanding and analyzing literary works. This paper uses Bakhtin's "Greek Legend Teaching Novel" chronot ope theory, and analyzes THE HISTORY OF TOM JONES, A FOUNDLING from three aspect s, namely, plot planning, structure framing and characterization, so as to to in terpret Henry Fielding more deeply from a new theoretical base.
During the teaching of Russian language, to choose short poetry as teaching mate rials could help the teaching of two-year postgraduate students. This program t urned out to be fruitful after a two year teaching experiment. It is concluded t hat this course could encourage students' motivation of language learning, incre ase the awareness of foreign language, promote the understanding of Russian cult ure, grasp the national spirit of Russian people, cultivate the thinking and exp ression skills in foreign language, and solve the problem of the relationship be tween language input and output. All of these deserve in-depth research and dis cussion.
Interdisciplinary, one of main meanings releases that the scientific research or education activity involves or integrates the theories or methodologies from se veral different disciplines. In this paper, some of the activities and the achie vements of interdisciplinary on research and education in the oversea universiti es were described and analyzed. Recently many famous universities and academic u nits have already consciously or spontaneously worked on it as one of the most i mportant strategy for setting and managing the university. Also some considerati ons and suggestions on the recent practical problems of interdisciplinary for do mestic universities were discussed.
The principal issues existing in the course Modern Digital Signal Proc essing offered by both control subject and engineering subject are briefly analy zed. From the aspects of course content, teaching method, assisted instruction a nd teaching management, detailed description on basic principle and concrete ins tructions of the teaching experience is demonstrated. The teaching method and ex perience proposed here for the course Modern Digital Signal Processing can provi de helpful references for the instruction work of relevant subjects.