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中国权证市场高开效应与时间关系研究
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作者 卓丽洪 瞿栋 王劲松 《经济管理》 CSSCI 北大核心 2012年第9期150-160,共11页
本文研究了中国证券市场截至2011年4月全部55只权证的高开效应。运用行为金融学分析了影响权证高开效应的几种因素,特别是间隔时间长度对高开效应的影响,建立了回归模型,并运用日交易面板数据进行了实证检验,检验结果非常显著地支持理... 本文研究了中国证券市场截至2011年4月全部55只权证的高开效应。运用行为金融学分析了影响权证高开效应的几种因素,特别是间隔时间长度对高开效应的影响,建立了回归模型,并运用日交易面板数据进行了实证检验,检验结果非常显著地支持理论分析的结果和回归模型。高开效应及相应的无风险套利机会的长期存在表明,大陆证券市场还不是一个有效市场;同时也表明,大陆证券市场存在着投机气氛浓厚、制度不完善、投资者不成熟等值得市场监管者和市场参与者关注研究的现象。 展开更多
关键词 权证 交易间隔 间隔效应 高开效应 有效市场
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中国权证市场高开效应行为金融学研究
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作者 卓丽洪 《数量经济技术经济研究》 CSSCI 北大核心 2014年第10期69-83,共15页
探讨中国权证市场全部55只权证的高开效应,从行为金融学视角分析影响权证高开效应的主要因素,建立回归模型,并进行实证检验,检验结果统计上显著地支持高开效应的普遍存在性以及理论分析和回归模型的合理性。高开效应及相应的无风险套利... 探讨中国权证市场全部55只权证的高开效应,从行为金融学视角分析影响权证高开效应的主要因素,建立回归模型,并进行实证检验,检验结果统计上显著地支持高开效应的普遍存在性以及理论分析和回归模型的合理性。高开效应及相应的无风险套利机会的长期存在表明,中国证券市场还不是一个弱有效市场。作为应对之策,监管部门需要降低监管决策的模糊性,提高透明度,加强投资者教育,完善证券市场基础制度。 展开更多
关键词 权证 间隔效应 高开效应 印花税 T+0交易
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Simulation and experimental study of high pressure switching expansion reduction considering real gas effect 被引量:2
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作者 罗语溪 张彦军 +2 位作者 高玉宝 王宣银 徐志鹏 《Journal of Central South University》 SCIE EI CAS 2014年第6期2253-2261,共9页
Switching expansion reduction(SER)uses a switch valve instead of the throttle valve to realize electronically controlled pressure reduction for high pressure pneumatics.A comprehensive and interactive pneumatic simula... Switching expansion reduction(SER)uses a switch valve instead of the throttle valve to realize electronically controlled pressure reduction for high pressure pneumatics.A comprehensive and interactive pneumatic simulation model according to the experimental setup of SER has been built.The mathematical model considers heat exchanges,source air pressure and temperature,environmental temperatures and heat transfer coefficients variations.In addition,the compensation for real gas effect is used in the model building.The comparison between experiments and simulations of SER indicates that,to compensate the real gas effect in high pressure discharging process,the thermal capacity of air supply container in simulation should be less than the actual value.The higher the pressure range,the greater the deviation.Simulated and experimental results are highly consistent within pressure reduction ratios ranging from 1.4 to 20 and output air mass flow rates ranging from 3.5 to 132 g/s,which verifies the high adaptability of SER and the validity of the mathematic model and the compensation method. 展开更多
关键词 high pressure pneumatics pressure reduction dynamic simulation model real gas effect
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Dynamic effects of high-pressure pulsed water jet in low-permeability coal seams 被引量:1
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作者 LI Xiao-hong ZHOU Dong-ping LU Yi-yu KANG Yong ZHAO Yu WANG Xiao-chuan 《Journal of Coal Science & Engineering(China)》 2009年第3期284-288,共5页
Mine gas extraction in China is difficult due to the characteristics such as micro-porosity,low-permeability and high adsorption of coal seams.The pulsed mechanismof a high-pressure pulsed water jet was studied throug... Mine gas extraction in China is difficult due to the characteristics such as micro-porosity,low-permeability and high adsorption of coal seams.The pulsed mechanismof a high-pressure pulsed water jet was studied through theoretical analysis,experimentand field measurement.The results show that high-pressure pulsed water jet has threedynamic properties.What's more,the three dynamic effects can be found in low-permeabilitycoal seams.A new pulsed water jet with 200-1 000 Hz oscillation frequency andpeak pressure 2.5 times than average pressure was introduced.During bubble collapsing,sound vibration and instantaneous high pressures over 100 MPa enhanced the cuttingability of the high-pressure jet.Through high-pressure pulsed water jet drilling and slotting,the exposure area of coal bodies was greatly enlarged and pressure of the coal seamsrapidly decreased.Therefore,the permeability of coal seams was improved and gas absorptionrate also decreased.Application results show that gas adsorption rate decreasedby 30%-40%and the penetrability coefficient increased 100 times.This proves that high-pressurepulsed water is more efficient than other conventional methods. 展开更多
关键词 high-pressure pulsed water jet gas desorption penetrability dynamic effects
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