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2013 Sixth International Conference on Business Intelligence and Financial Engineering最新文献

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A Real Option Analysis Framework for the Valuation of Internet-Based Companies 互联网公司估值的实物期权分析框架
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.78
Eric Lu Cao, K. Lai, Yelin Fu
{"title":"A Real Option Analysis Framework for the Valuation of Internet-Based Companies","authors":"Eric Lu Cao, K. Lai, Yelin Fu","doi":"10.1109/BIFE.2013.78","DOIUrl":"https://doi.org/10.1109/BIFE.2013.78","url":null,"abstract":"Internet company valuation has long been considered as a big challenge due to uncertainties. In this paper, a real option analysis framework is proposed to evaluate the value of Internet companies. The proposed framework consists of four steps: strategic analysis, uncertainty analysis, option identification and option analysis. Relative to traditional valuation methods, this proposed analysis framework can investigate the underlying relationships among uncertainty, flexibility and an Internet company's value and thus provide rational valuations of Internet companies under uncertainty.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127533087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
A Sequential Quadratic Programming Method for Nonlinear Programming without a Penalty or a Filter 无惩罚和无滤波器非线性规划的顺序二次规划方法
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.131
Mingxia Huang, D. Pu
{"title":"A Sequential Quadratic Programming Method for Nonlinear Programming without a Penalty or a Filter","authors":"Mingxia Huang, D. Pu","doi":"10.1109/BIFE.2013.131","DOIUrl":"https://doi.org/10.1109/BIFE.2013.131","url":null,"abstract":"This paper describes a new algorithm for solving nonlinear programming problems with inequality constraints. The proposed approach first solves a sequence of quadratic programming sub problems with a trust region framework and to induce global convergence, it establishes a new step acceptance mechanism that is neither a penalty function or a filter. Nonmonotone technique from the unconstraint optimization is used to accelerate the algorithm. Under some reasonable assumptions, the method can be proved to be globally convergent to a KT point. Preliminary numerical experiments are presented that show the potential efficiency of the new approach.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122576714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Effects of Stock Open-End Fund Holdings on Equity Issuance Intention: Evidence from Chinese Securities Market 股票型开放式基金持股对股票发行意愿的影响:来自中国证券市场的证据
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.59
Jia Shen, Yucan Liu
{"title":"Effects of Stock Open-End Fund Holdings on Equity Issuance Intention: Evidence from Chinese Securities Market","authors":"Jia Shen, Yucan Liu","doi":"10.1109/BIFE.2013.59","DOIUrl":"https://doi.org/10.1109/BIFE.2013.59","url":null,"abstract":"With the sample semi-annual data of the stock open-end fund and equity issuance information from July 2005 to December 2012 in China, the effect of open-end fund holdings on the equity issuance intention is studied by using logistic regression methods. The empirical results show that: equity issuance intention has relationship with whether the stock is held, After controlling BM, leverage, asset growth, ROA, Cash etc., the share holding ratio of funds are positively related to the equity issuance intention, The positive effect of buying pressure from funds with larger capital inflow on equity issuance intention is statistically significant.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128719942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Dynamic Analysis for Beijing Water Resources Management 北京市水资源管理动态分析
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.34
J. Qin, Jisong Wu
{"title":"Dynamic Analysis for Beijing Water Resources Management","authors":"J. Qin, Jisong Wu","doi":"10.1109/BIFE.2013.34","DOIUrl":"https://doi.org/10.1109/BIFE.2013.34","url":null,"abstract":"In this paper, dynamic analysis of Beijing water resources management is studied by forecasting method. First, the condition of water resources of Beijing is introduced. Second, the model of the water resources forecasting in Beijing is constructed from two aspects, i.e., supply side and demand side. Finally, some management insights and suggestions are presented based on the dynamic analysis.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128758926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Characteristics of Multi-national Carbon Emissions Based on Empirical Mode Decomposition 基于经验模式分解的多国碳排放特征
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.97
Mingxing Liu, Guoxing Zhang
{"title":"Characteristics of Multi-national Carbon Emissions Based on Empirical Mode Decomposition","authors":"Mingxing Liu, Guoxing Zhang","doi":"10.1109/BIFE.2013.97","DOIUrl":"https://doi.org/10.1109/BIFE.2013.97","url":null,"abstract":"According to the complexity of the reasons of carbon emissions in different countries, empirical mode decomposition method are used in this paper, decomposing the time-series data of national carbon emissions into high frequency modal and trends modal, represent the national carbon emissions short term interference and long term trend respectively. At the same time, the characteristics of each countries' carbon emissions are analyzed, the result show that the England carbon emissions in the downward phase and it's mainly affected by short term factors, however, the United States, Japan, Australia, Canada and China whose carbon emissions are still on the rise phase and they are affected by the long term trend.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129168847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Forecasting CSI 300 Volatility: The Role of Persistence, Asymmetry, and Distributional Assumption in Garch Models 预测沪深300指数波动率:Garch模型中持久性、不对称性和分布假设的作用
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.74
Congcong Wang, Rongda Chen
{"title":"Forecasting CSI 300 Volatility: The Role of Persistence, Asymmetry, and Distributional Assumption in Garch Models","authors":"Congcong Wang, Rongda Chen","doi":"10.1109/BIFE.2013.74","DOIUrl":"https://doi.org/10.1109/BIFE.2013.74","url":null,"abstract":"This study investigates the daily volatility forecasting for China Securities Index-C300 series from 2002 to 2010 and identifies the source of performance improvements between volatility specification and distributional assumption. Empirical results suggest that CGARCH model achieves the most accurate volatility forecasts. Such evidence, along with the results of sign bias tests, demonstrates that modeling persistence components is more important than specifying asymmetric components for improving volatility forecasts of financial returns. Furthermore, the GARCH models with Gaussian distribution are preferable to those with more sophisticated error distributions.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123499452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Over-Determinate and Incomplete Contract: Incentive Contract Based on Rabin Motivation Fairness Model 过度决定与不完全契约:基于Rabin激励公平模型的激励契约
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.89
Xiang Wang, Guodong Wu
{"title":"Over-Determinate and Incomplete Contract: Incentive Contract Based on Rabin Motivation Fairness Model","authors":"Xiang Wang, Guodong Wu","doi":"10.1109/BIFE.2013.89","DOIUrl":"https://doi.org/10.1109/BIFE.2013.89","url":null,"abstract":"When the agent has the motivation fairness preference, the principal of sufficient statistics advocated by the classical contract theory is no longer tenable. By incorporating Rabin motivation fairness model into the classical contract theory, we draw two conclusions: Firstly the optimal contract is over-determinate. That is to say, the optimal incentive contract based on complete information should not only reflect the agent's efforts, but also the external random factors, and agent gets the \"pay for luck\". Secondly the optimal contract is incomplete. That is to say, even though the principal can adopt full supervision on the agent without any cost, he should give up full supervision.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"27 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114020026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Securities Analyst's Forecasting Ability and ITS Influential Factors: Based on Decision-Making Theory 证券分析师预测能力及其影响因素:基于决策理论
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.79
Jiani Wang
{"title":"Securities Analyst's Forecasting Ability and ITS Influential Factors: Based on Decision-Making Theory","authors":"Jiani Wang","doi":"10.1109/BIFE.2013.79","DOIUrl":"https://doi.org/10.1109/BIFE.2013.79","url":null,"abstract":"Based on decision-making theory, applied cognitive psychology and other researches, this paper focuses on Chinese securities analyst' decision-making behavior and its influential factors by applying the methods of questionnaire, factor analysis and logistic regression model. Empirical result shows that clear differences exist among the impact on securities analyst' decision-making performance in terms of their personal characteristics, information channels and stock recommendation motive, especially, there is an inverted U type relationship between work stress and decision-making performance. Besides, internal resources, better understanding of the listed companies and a good relationship with the management are among the factors which enhance securities analyst' forecasting ability.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124168156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Energy Pricing and Carbon Emission Based on Hyperbolic Discounting Preference 基于双曲折现偏好的能源定价与碳排放
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.72
Dongmei Guo, Y. Hu, Bin Li
{"title":"Energy Pricing and Carbon Emission Based on Hyperbolic Discounting Preference","authors":"Dongmei Guo, Y. Hu, Bin Li","doi":"10.1109/BIFE.2013.72","DOIUrl":"https://doi.org/10.1109/BIFE.2013.72","url":null,"abstract":"On the basis of a binary stochastic differential game model representing the relationship between cartelized energy suppliers and a government on behalf of consumers, we study the decision-making behaviors of a government and suppliers with time-inconsistent preference in both cooperative and non-cooperative scenarios by making comparison with the benchmark model for game players with time-consistent preference in this paper. The results show that, regardless of a cooperative or non-cooperative game, at the initial time, the consumer price given by game players with time-consistent preferences is higher than that given by game players with time-inconsistent preferences, while the carbon emissions given by the former are lower than the latter. Especially at the terminal time, the carbon emissions from naive players are lower than that from sophisticate players.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128139051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Forecasting the CPI Using a Hybrid Sarima and Neural Network Model with Web News Articles 基于网络新闻文章的Sarima和神经网络混合模型预测CPI
2013 Sixth International Conference on Business Intelligence and Financial Engineering Pub Date : 2013-11-14 DOI: 10.1109/BIFE.2013.19
Hui Yuan, Dailing Zhang, Wei Xu, Mingming Wang, Wenda Dong
{"title":"Forecasting the CPI Using a Hybrid Sarima and Neural Network Model with Web News Articles","authors":"Hui Yuan, Dailing Zhang, Wei Xu, Mingming Wang, Wenda Dong","doi":"10.1109/BIFE.2013.19","DOIUrl":"https://doi.org/10.1109/BIFE.2013.19","url":null,"abstract":"Web news fills our life from national affairs to small matters, containing the latent useful information that can reflect the trend of consumer price index. Most previous studies forecast the CPI basing on the historical data while in this paper, the external information is considered and modeled by using the combination of neutral network and seasonal ARIMA model in order to correct the forecasting error for more accurate prediction. The experiments show that the proposed method is better than both the single neutral network and the seasonal ARIMA. The findings imply the web news can bring more precise results in CPI forecasting.","PeriodicalId":174908,"journal":{"name":"2013 Sixth International Conference on Business Intelligence and Financial Engineering","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133986267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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