简介:Thepostalsavingslatelyopenedhasmadegreatprogress.Butwhatistheoriginaladvantageofthepostalsavings?Inthelastfewyears,manyexpertshaveconsideredthattheadvantageliesinthelargemumberofpostaloffices.Thispaperproposesanewviewpoint-thePostalIndividualFinance(PIF)anddiscussitscharacteristics.Then,we'sssetupanddescribetheabstractmodelsofPIF.Finally,we'llpointouttheinfluenceofPIFonthestructureofpersonalinvestmentandflowofthenationalcurrency.
简介:Inthispaper,aquantummodelforthebinomialmarketinfinanceisproposed.Weshowthatitsrisk-neutralworldexhibitsanintriguingstructureasadiskintheunitballofR^3,whoseradiusisafunctionoftherisk-freeinterestratewithtwothresholdswhichpreventarbitrageopportunitiesfromthisquantummarket.Furthermore,fromthequantummechanicalpointofviewwere-deducetheCox-Ross-RubinsteinbinomialoptionpricingformulabyconsideringMaxwell-BoltzmannstatisticsofthesystemofNdistinguishableparticles.
简介:Optimisingbothqualitativeandquantitativefactorsisakeychallengeinsolvingconstructionfinancedecisions.Thesemi-structurednatureofconstructionfinanceoptimisationproblemsprecludesconventionaloptimisationtechniques.Withadesiretoimprovetheperformanceofthecanonicalgeneticalgorithm(CCA)whichischaracterisedbystaticcrossoverandmutationprobability,andtoprovidecontractorswithaprofit-risktrade-offcurveandcashflowprediction,anadaptivegeneticalgorithm(AGA)modelisdeveloped.TenprojectsbeingundertakenbyamajorconstructionfirminHongKongwereusedascasestudiestoevaluatetheperformanceofthegeneticalgorithm(CA).TheresultsofcasestudyrevealthattheACAoutperformedtheCGAbothintermsofitsqualityofsolutionsandthecomputationaltimerequiredforacertainlevelofaccuracy.TheresultsalsoindicatethatthereisapotentialforusingtheGAformodellingfinancialdecisionsshouldbothquantitativeandqualitativefactorsbeoptimisedsimultaneously.
简介:
简介:Thispapergivesasystematicviewofthenewtrendsofglobalcarbonfinanceinnovationunderthechallengeofglobalclimatechangeandintheprocessoftransitiontoachieveeconomicgrowthfrom'highcarbon'to'lowcarbon',coveringthefollowingaspects:thestructure,statusquoanddevelopingtrendofglobalcarbonmarket.Thepaperdiscussestheinnovationinfinancialorganizationandservicesystemsandgovernments'overallguidanceandpolicysupport,anddrawstheconclusionthattheworldisundergoingmassivechangeswithgovernmentsactivelyrespondingtocarbonfinancetoembracethetremendousopportunitiesforcleanenergyandclimatechangeinfinancialindustry.Toseizetheopportunity,acompleteandoverallcarbonfinancesystemofChinashouldbeputinthetopoftheagenda.Giventhecurrenttasksofenergyconservationandpollutionreductionandthegrowingdemandforcapitalinput,Chinaneedstoconstructanclearofpolicyguidance,adiversifiedfinanciaservicesystem,andamulti-approachcarbonfinancesystemtointensifyandwidentheparticipationoffinancialindustry,toexpandfinancingchannelsforsustainableeconomyandspreadrisks,andfinally,workoutaninexpensivesolutiontotherealizationofChina'slowcarbontarget.
简介:Inthefinancemarket,riskhappenedintwopattern.Inonecase,extremevolatilitytogetherwithashortbalancetimeleadstoagreatpanictothemarket.Onthecontrary,ifthevolatilityissmaller,thetimeperiodwillusuallybelonger.Itwillbringmanyinfectionstovariousrelatedfields,whichcauseswiderrangeinfluencestotheeconomy.Bothcaseshurtfinancialmarketandtheeconomyitselfdeeply.Inthispaper,wedevelopedanovelmarketregulationmethodinwhichtheconflictoffluctuationtimeandvolatilitywillbebalanced.Itdescribesawaytocomputeaportfolioofrelativelyshorttimeperiodtogetherwithsmallerfluctuationvolatilitybyusingageneralpredictionalgorithmbasedonovershootincybernetics.Itcanalsogiveexplanationtocounter-cyclicalsupervisiontheoryandmacro-prudentialregulation.Furthermore,itcanprovidenumericaloperationguideforcountercyclicalsupervisiontheoryandmacro-prudentialregulation.