Media Herding Behavior and the Effect on Extreme Downside and Upside Risk of Stock Price——Evidence from China

媒体在筛选主题、裁剪素材、报道新闻时有可能存在羊群行为，原因在于：（1）不同媒体之间的信息不对称。面对海量的信息，一家媒体不可能全面、实时捕捉。这时候，跟踪模仿同行行为不仅有利于降低信息收集成本，而且反复全方位的报道在一定程度上可以满足投资者的信息需求；（2）模仿心理。新闻记者自身能力不足，存在认知偏差、框架依赖、损失规避等多种局限，这些推动了媒体跟风进行报道的现象屡屡出现；（3）行业竞争。为了迎合读者需求，或者追求轰动报道，吸引眼球，媒体往往竞相追逐时下热点问题。这也导致了媒体在报道新闻时容易出现羊群行为。 为了检验媒体报道是否存在羊群行为，本文借鉴Lakonishok，Shleifer和...Media may herd when choosing topic or cutting material for several reasons. First, the information asymmetry among different newspaper offices. Facing a flood of information, one newspaper office only may not capture all important information in real time with good comprehension. Thus, herding behavior, which means to imitate peers when reporting, not only help reduce the information gathering cos...学位：管理学硕士院系专业：管理学院_财务学学号：3212013115061

Legal Definition og the Offeree in the Securities Private Placement Offering System

证券私募已经成为资本市场上融资的重要方式，为企业解决资金短缺提供了便利的渠道。但是企业筹资的同时如何兼顾应募人的利益，乃是证券私募制度设计的重点。基于我国目前尚无系统的证券私募制度法律规定，更没有对私募制度中的应募人进行法律界定，因此本文以证券私募制度中应募人的法律界定为题，分析比较了立法成熟国家的相关法律规范和实践操作，并且检讨了我国在应募人规范和实践方面的得失，着力讨论了在我国现有国情下证券私募制度中应募人的人数标准和资格标准。本文分为四个部分对证券私募制度中应募人的法律界定进行阐述：第一部分简述证券私募发行制度，并从证券私募制度本身存在的信息不对称和交易成本高昂的缺陷出发，主要讨论了对应...Securities private placement has become an important financing way in the capital market, and it can offer an convenient channel to resolve the shortage capital for enterprises. Whereas, how to balance the profit of the offeree at the same time in the enterprise’s finacing is the emphasis of designing Securities Private Placement System. Based on China's current law system there is no system about...学位：法学硕士院系专业：法学院法律系_民商法学(含劳动法学、社会保障法学)学号：2005130041

财经媒体地域偏见实证研究

本文结合心理学和社会学的理论分析,从地域差异的宏观视角来解释媒体偏见产生的可能根源,其逻辑在于:一方面,我国经济、制度、文化建设存在明显的地域差异性,媒体在裁剪新闻时很容易对这种社会真实产生框架依赖,在报道时会不自觉地贴上地域标签;另一方面,地域差异的长期存在会形成社会的刻板印象,逐渐固化成一种社会规范,并产生强大的社会压力,而媒体会遵从这种压力,从而在报道时呈现出地域性偏见。本文以2004—2014年期间来自我国八家主流财经媒体的203860份新闻报道为研究样本,所展开的一系列实证结果表明:我国媒体在新闻报道时存在着显著的地域偏见。具体而言,相比其它地域,对于地处经济发展水平较高,或制度建设较为完善,或社会信任程度较高的地域的上市公司,媒体会给予更多的正面报道。这一结论让我们看到媒体偏见形成背后特殊的地缘因素和宏观背景,即便在同一个国家内,区域的分割也会深刻地影响到媒体的报道行为。国家自然科学基金项目(71472161;7179060171672158);;中央高校基本科研业务费专项资金(20720181005)的资

Design and implementation of the energy management and intelligent monitoring system of a zero energy consumption house

针对2013中国国际太阳能十项全能竞赛比赛规则及零能耗建筑的特点,结合比赛地点山西大同的气候数据,给出了厦门大学参赛作品,零能耗小屋Sunny InSIdE的能源管理与智能监控系统设计方案。以光伏建筑一体化理论为基础,设计15.25kW光伏并网发电系统,并用相关软件对能耗平衡进行了模拟验证。以三菱PlC为核心,构建了能源管理与智能监控系统,分析了不同条件下空调、相变及遮阳系统的控制策略,并给出具体实现方法。According to the rules of the Solar Decathlon China 2013 and the characteristics of zero energy consumption house, combining with the climate data in competition city—Datong Shanxi, an energy management and intelligent monitoring system for the zero energy consumption house called Sunny Inside from Xiamen University was born.A 15.25kW photovoltaic grid connected power system was designed based on building integrated photovoltaic theory, and used relevant simulation software to test energy balance property.An energy management and intelligent monitoring system was constructed based on Mitsubishi PLC, analyzed the control strategy of heating ventilation and air conditioning, phase-change material and shading system under different conditions, and gave a concrete realization method

The Difference of Luminous Performance Between Traditional Phosphor Packaging LED and Remote Phosphor LED

研究了传统白光lEd与蓝光激发的球冠形远程荧光粉白光lEd在不同电流、不同热沉温度下的发光性能,并对其机理差异展开了探讨。实验结果表明:随热沉温度和驱动电流的上升,传统白光lEd的量子效率和电光转换效率急剧下降,并导致其y/b比(yEllOW/bluE rATIO)下降,相关色温上升。而在远程荧光粉白光lEd中,其量子效率、光转换效率和相关色温在相同实验条件下变化幅度都较小。由光强空间分布和y/b比空间分布可知,远程荧光粉白光lEd的光强分布呈类似蝠翼分布,且y/b比空间均匀性远大于传统白光lEd。Under different drive current and heat sink temperature,luminous performances as well as physical mechanisms were studied for both traditional phosphor-dispensing packaging white LED and blue light-converting hemisphere remote phosphor LEDs.With the increase of the heat sink temperature and the drive currents,the quantum efficiency and light conversion efficiency in the traditional phosphor-dispensing packaging white LED drop rapidly,which is responsible for the decrease of Y/B ratio(Yellow/Blue Ratio) and the apparent increase of CCT(correlated color temperature).However,the parameters of quantum efficiency,light conversion efficiency and CCT in blue light-converting hemisphere remote-phosphor packaging LEDs have little change under the same experimental conditions.In addition,the remote phosphor LEDs exhibit a batwing spatial luminous intensity distribution and the spatial Y/B ratio distribution is much more homogeneous compared with the traditional phosphor-dispensing packaging white LED.国家自然科学基金(11104230;61102030); 福建省产学研重大科技项目(2011H6025;2013H6024); 福建省重点科技项目(2012H0039)资

《京口三山志》從“著錄”到“存目”

&ldquo;過雲樓&rdquo;《京口三山志》具有&ldquo;四庫底本&rdquo;的許多特征，卻不是&ldquo;著錄&rdquo;而是&ldquo;存目&rdquo;書。</p

[[alternative]]Driver Assistance System–Dangerous Driving Event Analysis Subsystem

[[abstract]]To help provide safety for drivers, driver assistance systems have been an area of active research in recent years. An important component in such systems are detection subsystems. Many have been developed based on various technologies. These detection subsystems always work independently of each other and, as a result, there are often conflicts regarding the detection of objects by these diverse systems. Also, these subsystems often make needless warnings to drivers, causing the drivers to be distracted from their primary task of driving. With this in mind, this paper proposes a system to integrate the results of detection subsystems and provide a better organized and filtered set of commands or suggestions to drivers. Collecting realistic hazardous driving events on freeways is difficult and dangerous, so we set up a freeway driving simulation system provide usable data (both common and dangerous events encountered while driving) for use with our detection subsystem. The dangerous driving event analysis subsystem analyzes and infers driving events using a CFRPN (cascaded fuzzy reasoning Petri net) module, and then determines if it is a danger. If so, then the driver is warned. The experimental results show that this proposed approach is feasible. If the dangerous driving event analysis subsystem is incorporated into a driver assistance system, a driver can drive more easily and safety will be improved.

《杏仁油》国家标准的制定Formulation of national standard of apricot oil

为保证生产、储存、运输和销售过程中杏仁油的品质，规范杏仁油市场，保护消费者的合法权益，《杏仁油》国家标准的实施具有重要的意义。GB/T 41386—2022《杏仁油》将于2022年10月1日起实施。对《杏仁油》国家标准制定过程中术语和定义，杏仁油的分类、基本组成和主要物理参数、质量指标、检验方法及检验规则的确定进行了详细说明。 In order to ensure the quality of apricot oil during production, storage, transportation and sales, regulate the apricot oil market and protect the legitimate rights and interests of consumers, the implementation of the national standard of apricot oil has great significant. The national standard of GB/T 41386-2022 Apricot oil will be implemented on October 1, 2022.In the process of formulating the national standard of apricot oil, the determination of terms and definitions, classification, composition and main physical parameters, quality indicators, inspection methods and inspection rules of apricot oil were detailed description

短程硝化/厌氧氨氧化/全程硝化工艺处理焦化废水

通过对短程硝化和厌氧氨氧化工艺的研究,开发了短程硝化/厌氧氨氧化/全程硝化(O1/A/O2)生物脱氮新工艺并用于焦化废水的处理。控制温度为(35&plusmn;1)℃、DO为2.0～3.0mg/L,第一级好氧连续流生物膜反应器在去除大部分有机污染物的同时还实现了短程硝化。考察了HRT、DO和容积负荷对反应器运行效果的影响。结果表明,当氨氮容积负荷为0.13～0.22gNH 4+-N/(L.d)时,连续流反应器能实现短程硝化并有效去除氨氮。通过控制一级好氧反应器的工艺参数,为厌氧反应器实现厌氧氨氧化(ANAMMOX)创造条件。结果表明,在温度为34℃、pH值为7.5～8.5、HRT为33 h的条件下,经过115 d成功启动了厌氧氨氧化反应器。在进水氨氮、亚硝态氮浓度分别为80和90 mg/L左右、总氮负荷为160 mg/(L.d)时,对氨氮和亚硝态氮的去除率最高分别达86%和98%,对总氮的去除率为75%。最后在二级好氧反应器实现氨氮的全程硝化,进一步去除焦化废水中残留的氨氮、亚硝态氮和有机物。O1/A/O2工艺能有效去除焦化废水中的氨氮和有机物等污染物,正常运行条件下的出水氨氮&lt;15 mg/L、亚硝态氮&lt;1.0 mg/L,COD降至124～186 mg/L,出水水质优于A/O生物脱氮工艺的出水水质