Table of Content

29 December 2013, Volume 21 Issue 6 Previous Issue    Next Issue

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Study on Dynamic VaR Measures Based on SV-SGED Model WU Xin-yu, MA Zong-gang, WANG Shou-yang, MA Chao-qun 2013, 21 (6):  1-10.  Abstract ( 2483 )   PDF (3092KB) ( 2370 )   Save In this paper, skewed generalized error distribution (SGED) is introduced to account for skewed and heavy-tailed financial asset returns, and SV-SGED model is proposed to model asset return volatility, and then dynamic value-at-risk (VaR) can be measured. In order to test the accuracy of risk models, the back-testing technique is adopted. At the same time, a method for maximum likelihood (ML) estimation of SV models is introduced based on the efficient importance sampling (EIS) technique. Finally, an empirical study of Shanghai Stock Exchange composite index is presented. Empirical results demonstrate that the SV-SGED model can describe asset return volatility better than the SV model based on normal distribution (SV-N) and the SV model based on generalized error distribution (SV-GED), and the SV-SGED model can yield more accurate VaR estimates than the SV-N and SV-GED models. References | Related Articles | Metrics

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The Performance Evaluation of Dynamic Mutual Funds Based on SSM ZHU Jie, CHEN Lang-nan 2013, 21 (6):  11-21.  Abstract ( 2236 )   PDF (2414KB) ( 2072 )   Save Previous researches always use constant methods to evaluate the mutual fund's performance. In this paper, the constant coefficient estimates are proned to be unable to accurately evaluate the mutual funds' performance by proving that the constant coefficient estimates consist of time-varying coefficient expectation and other component. Then a SSM model is constructed to reflect the time-varying coefficient based on information variables. In addition, the latest Particle EM algorithm is used to estimate the parameters in SSM. Finally, the timing ability of the mutual funds is compared based on the data of six mutual funds between 2005 and 2011.It is found that time-varying coefficient method is more accurate in performance evaluation. References | Related Articles | Metrics

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New Insight into Application in Mutual Funds’ Performance Evaluation on Conditional Auto Regressive Expectile Models SU Xin, ZHOU Yong 2013, 21 (6):  22-29.  Abstract ( 2511 )   PDF (957KB) ( 2040 )   Save Performance measurement is one of the most important issues in the research of mutual funds. The problems of performance evaluation and tests in the open-end mutual funds are studied in this paper, using daily returns. Conditional AutoRegressive Expectile (CARE) models are creatively introduced into the problem of evaluation of mutual funds' performance. Firstly, asymmetric least squares (ALS) method is applied to estimate the parameters in those CARE Models, and then the results are used to create autoregressive VaR model and conditional ES model to calculate the values of VaR and ES of our sample funds. Secondly, the values of VaR and ES are used to conduct risk-adjustment on the standard deviation, and thus the amended Sharpe ratios are obtained, which are based on VaR and ES. Finally, in empirical study, 56 domestic open-end funds in China are selected as samples, from 2005 to 2011. Empirical analysis are made on the evaluation and ranking of three measures of performance, including the traditional Sharpe ratio, VaR-based Sharpe Ratio and ES-based Sharpe ratio. The results prove CARE models can measure extreme risk much more accurately and thus can be very feasible to the evaluation and test in mutual funds. References | Related Articles | Metrics

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The Study on the Efficiency Evaluation Considered Undesirable Output and Its Influencing Factors of Commercial Banks from the Perspective of Stakeholder Relationships JI Jian-yue, KONG Jiao-jiao 2013, 21 (6):  30-37.  Abstract ( 2339 )   PDF (951KB) ( 2207 )   Save The efficiency evaluation of commercial banks and influencing factors research have always been a hot issue in academics and practitioners, but by far it has not been studied from the perspective of stakeholder. In this paper, using SBM model which considers undesirable outputs the efficiency of commercial banks is analyzed. Combining the contract theory, production function of commercial banks and prospect theory, it can be concluded that the stakeholder relationships are the key variables of the efficiency of commercial banks. Then the Tobit model which analyze the efficiency and stakeholder relationships is built. On this basis, selecting a sample of 14 representative commercial banks from 2004 to 2011 in China, the efficiency which has been added the undesirable outputs is evaluated. Finally, an empirical research on influencing factors is carried out. The results show that stakeholder relationships are the key factor which influences the efficiency considering the undesirable outputs of commercial banks in China. References | Related Articles | Metrics

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Research on Feature Selection Methods of Data Classification ZHAO Yu, HUANG Si-ming, CHEN Rui 2013, 21 (6):  38-46.  Abstract ( 2572 )   PDF (984KB) ( 3325 )   Save By applying support vector machine(SVM) learner, based on semi-definite programming, a new ensembled feature selection within optimization data classification method is draw out to achieve the global optimal feature selection and data classification simultaneously. Firstly, the features are divided into several groups and each sub-feature space kernel matrix is calculated. Then linear combination of these sub-feature kernel matrix for the semi-definite SVM kernel mapping is constructed, getting all the linear weight coefficients from the make global model solving. The classification rate is dominated by the contribution and support educed by the weighted coefficients which can choose the maximum rate, minimal features or generalization ability. Finally, the classification rate and number of features are counted based on these three objectives. For verification purpose, medical, botanical, text recognition, artificial and credit datasets are used for comparing the advantage among SFS, Relief-F, SBS and the ensembled method. Results indicate that the ensembled method can not only obtain better learning efficient but also reduce the features more sharply than SFS, Relief-F, and SBS in some datasets. References | Related Articles | Metrics

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Supply Chain Coordination Model for Perishable Product Through Online Sales with False Failure Returns WANG Jun-ping, YANG Jian-bo, JIA Zhao-li 2013, 21 (6):  47-56.  Abstract ( 2298 )   PDF (1083KB) ( 2554 )   Save Based on the phenomenon of false failure returns at online sales, the optimal ordering coordination issue for perishable product is studied in this paper. A two-period dynamic programming is employed to depict the two-ordering behavior of the online retailer. The centralized-and decentralized-decision models are respectively developed under the assumption that the false failure returns happen in each period, and a price protection contract is proposed to realize the supply chain coordination. Finally, numerical examples are presented to illustrate the model and some management insights are put forward as well. From the research of the model, the following can be obtained: (1) the online retailer needs to order more products in the first period in response to the demand risk when the demand variability increases, which leads to a lower profit of the system. Moreover, coordination is more valuable when demand variability is higher. (2) As either the return rate of the first period increases or the return rate of the second period increases, or do both, the first-period and second-period order quantities will decrease. (3) A smaller customer return or a larger serviceable return rate is more valuable for the channel when demand variability is higher. References | Related Articles | Metrics

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Decision and Analysis of Closed-Loop Supply Chain with Manufacturer-Led and Manufacturer-Compete Based on the Reward-Penalty Mechanism WANG Wen-bin, CHEN Qin, DA Qing-li 2013, 21 (6):  57-63.  Abstract ( 1909 )   PDF (1597KB) ( 1668 )   Save In this paper, the centralized decision-making model, the decentralized decision-making model of the non-Reward-Penalty Mechanism as well as the closed-loop supply chain models, which considers competitions of manufactore and is based on the Reward-Penalty Mechanism, have been established. By solving and comparing the results of these models with the method of backward induction respectively, the buyback price, wholesale price, retail price and collection decisions of closed-loop supply chain have been obtained. Studies have shown that: compared with the decentralized decision-making under the non-Reward-Penalty Mechanism, the government's Reward-Penalty Mechanism not only can effectively guide manufacturers to reduce the price of new products, improve the collection rate and improve the efficiency of the closed-loop supply chain but also is conducive to the increasing of the profits of the closed-loop supply chain members; Reward-Penalty Mechanism make the recycling manufacturer's profits increased, and the non-recycling manufacturer's profits decreased, which can guide the manufacturer's enthusiasm of collection and remanufacturing effectively; meanwhile, the increase of the recyclers' and the retailers' profits can also arouse their enthusiasm, and then make the whole closed-loop supply chain members' harmonious operation. References | Related Articles | Metrics

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An Empirical Research of Performance Evaluation Model of Large and Complex Products Manufacturing Cluster Supply Chain YANG Jin 2013, 21 (6):  64-71.  Abstract ( 2245 )   PDF (1762KB) ( 2081 )   Save Based on the exiting literatures, this paper proposed 5 latent variables and 16 observed variables, including interoperability, reliability, flexibility, quality management and cost control, to assess supply chain performance, combined with the characteristics of large and complex product manufacturing cluster supply chain. Then, the four possible performance evaluation models of cluster supply chain are built with structural equation modeling method, namely the order modes of the single factor, the order mode of latent variables unrelated, the order mode of latent variables related and second-order model. Because the exploratory factor analysis method cannot establish the consistency of performance evaluation of the dimensions of its system, so the confirmatory factor analysis method validation and filtering from the match and stability of the four possible evaluation modes. The results show that the fit degree between the second-order confirmatory factor analysis model and the sample data is the best, so the second-order confirmatory factor analysis model is an effective and reliable performance evaluation model of cluster supply chain. References | Related Articles | Metrics

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Study on the Decision Behavior of Capital-Constrained Newsvendor under Risks SUN Yan-hong, CHEN Ming-yan, CHEN Xiao-ling, BIAN Yi-wen 2013, 21 (6):  72-79.  Abstract ( 2023 )   PDF (1921KB) ( 2096 )   Save Many firms (especially small businesses) in reality usually obtain capital through external financing to maintain their operations. However, external financing also brings financial risks as well as capital. By introducing firm's financial status into the classical newsvendor model, the joint optimal operational decision and financial decision are analyzed. The impacts of the newsvendor's attitudes towards risks (e.g., risk neutral, loss averse) on its decision behavior are also investigated. Theoretical results show that, compared with the risk neutral newsvendor, under some conditions, the loss-averse newsvendor can reduce the financial risk without decreasing its profit. References | Related Articles | Metrics

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Inventory Model for Deteriorating Item Under Two-level Trade Credit Policy with Partially Advance Payments from Customers JIA Tao, ZHENG Yi, CHANG Jian-long 2013, 21 (6):  80-87.  Abstract ( 2091 )   PDF (1224KB) ( 1857 )   Save Today's research is interested in the inventory decision models that have real business applications. In real life business, a necessary replenishment decision context between a supplier and a distributor could be characterized by an arrangement on the trade credit scenario such as permissible delay in payments. During the delay period, the distributor can accumulate revenue on sales and earn interest on that revenue, so the trade credit policy can be used to allocate the profit between the upstream and downstream members in the supply chain and bear the risk of inventory jointly with the purpose to increase the efficiency of supply chain. Over the years, the extensive research papers of trade credit has been addressed, and some of the published results have noticed that in practice the distributor could also adopt the trade credit policy to deal with his/her customer, that is two levels of trade credit which is a new viewpoint to develop the distributor's replenishment model. Also to reduce default risks, a distributor frequently requests his/her bad credit customers to pay a portion of the purchase amount before the order is received, i.e., partially advance payments, which is an important aspect of trade credit policy, has been neglected for a long time in the literatures investigating inventory problems under varying trade credit conditions. So we focus on the context of two-level trade credit considering both partially advance payments and permissible delay in payments to determine the optimal replenishment cycle in a single deteriorating item supply chain. Firstly, based on the related theoretical research of deteriorating items and trade credit, it is assumed that the supplier offers a fixed credit period to the distributor in this paper, while the customers of the channel have to make partially advance payments to the distributor in turn. Then, by analyzing the cost structure of the distributor under every scenario for the three distinct cases of the system parameters, the proper mathematical model is established to find the optimal ordering cycle inorder to minimize the total cost incurred per unit time. The properties of the objective function are derived, and it is shown that there exists at most one minimum point under every situation within its feasible region. Upon the above analysis, several propositions are developed to efficiently determine the optimal ordering policy for the distributor. Finally, combining operations management practice, numerical examples are conducted to illustrate the effectiveness of the proposed model. This paper extends the published deteriorating EOQ models and enables managers to make ordering cycle decisions more effectively from the distributor's perspective. References | Related Articles | Metrics

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The Study of Closed-Loop Supply Chain Coordination under Demand Disruption with Revenue and Expense Sharing Contract LI Xin-ran, MU Zong-yu 2013, 21 (6):  88-96.  Abstract ( 2139 )   PDF (1039KB) ( 2176 )   Save A retailer collecting closed-loop supply chain (CLSC) which consists of one manufacturer and one retailer is studied in this paper. Using revenue and expense sharing contract, double marginalization problem in the decentralized decision-making CLSC can be solved, and benefits can be improved. In the case that demand is disrupted, the optimal decision results of centralized decision-making CLSC is compared to optimal decision results of retailer who is coordinated by the revenue and expense sharing contract. The revenue and expense sharing contract is effective in stable environment in decentralized decision-making CLSC,in which manufacturer bears the deviation cost. It is shows that the coordination of the decentralized decision-making CLSC is broken off. Parameters of revenue and expense sharing contract based on it coordinating mechanism are improved, and the improved contract can coordinate the decentralized decision-making CLSC under disruption as well in stable environment. Finally, numerical example is given to prove the main conclusion of this paper and illustrate the value of revenue and expense sharing contract. References | Related Articles | Metrics

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Closed-loop Supply Chain Coordination under Asymmetric Information and Disruptions with Buy Back Contract WU Zhong-he, CHEN Hong, ZHAO Qian 2013, 21 (6):  97-106.  Abstract ( 2044 )   PDF (1321KB) ( 1916 )   Save In recent years, emergency events such as nature disaster, terror attack etc. occur frequently, they affect the normal operation of enterprises and supply chain tremendously. Thus, this question leads to a wide attention about how to coordinate the supply chain to response to disruptions. In reality, because of the knowledge monopolization, industry barrier or benefit conflict, the asymmetric information between the retailer and the manufacturer is existed throughout, and the asymmetry of information is one of the causes which leading to the supply chain's low efficiency. The study motivation and origination of the paper is that the strategies on how to response the disruption under asymmetric information are explored so as to enhance the efficiency of the supply chain by studying the disruption management of the supply chain under asymmetric information.In this paper, a two-stageclosed-loop supply chain composed of one manufacturer and one retailer is considered, while the disruptions cause the stochastic market demand distribution function and the manufacturer's production cost fluctuated simultaneously, how we should use the buy back contract to coordinate the supply chain under asymmetric information to response to the disruption.The paper's study method is to setup aclosed-loop supply chain coordination model under asymmetric information based on buy back contract firstly. As the disruption may affect the supply chain production plan and furthermore it would cause the manufacturer to adjust the production quantity, yet, the production quantity adjustment need to throw in deviation cost, so in the emergency environment, we setup a supply chain model based on a buy back contract by drawing (leading) into deviation cost. In addition, we analyze the model thoroughly. Basing on the retailer's facing asymmetric information of its selling costs and stochastic market demand, firstly the decentralized system decision situation under basic state, and solve the problem of asymmetric information is solved by designing variable parameter anew and realize the information sharing under buy back contract and perfect coordination of the supply chain. Then, the problem of coordination with buy back contract under disruption are studied.The study results show that the supply chain can be coordinated by adjusting the order quantity when stochastic market demand distribution function and production costfluctuated simultaneously. Furthermore, the study finds that only the adjusted option contract can coordinate the supply chain while the origin option contract can't. Thereby the paper testifies that it is effective and essential to coordinate the supply chain by adjusting the option contract while disruptions occur. The study results show that the origin production plan and the buy back price of the manufacturer have a robustness zone when stochastic market demand distribution function and production costfluctuated simultaneously to a small extent as for the closed-loop supply chain under asymmetric information, it is the optimal decision for the manufacturer to keep the original production plan and the original buy back contract in the zone. If the production cost doesn't fluctuate in the zone, the optimal wholesale price can keep unchanging. When the degree of the fluctuation exceeds the robustness zone, the closed-loop supply chain can achieve the optimal profit in the situation of disruption only if the original production plan, original wholesale price and the original buy back contract are adjusted relatively. The study also show that the taking-back activity of used products is not affected by an emergent event. So, while the emergent event occurs, the taking-back strategy of the used products needn't to be adjusted at all.In the part of data emulation and analysis, we design a living example according to the feature of the short life cycle two-stage supply chain, furthermore, we analyze the influence suffered by product quantity, wholesale price and buy back price in the closed-loop supply chain while stochastic market demand distribution function and production cost fluctuated simultaneously caused by the emergent event. By the numeral example, we test and verify the validity of the model on response to the disruption.In brief, this study offers a fundamental train of thought and a frame for coordinating theclosed-loop supply chain under asymmetric information to response to disruptions to the other related researches, moreover, it can be used for reference to the other related studies in how to lead the buy back contract into coordinating the supply chain under asymmetric information to response to disruptions. References | Related Articles | Metrics

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Research on Slotting Optimization in Automated Warehouse Based on Time DENG Ai-min, CAI Jia, MAO Lang 2013, 21 (6):  107-112.  Abstract ( 2366 )   PDF (1432KB) ( 2750 )   Save Changes of internal and external environment make slotting optimization to automated warehouse very necessary and important. Among slotting optimization study,there is not a valid distinction between the characteristics of automated warehouse cargo space and storage spaces,and there is a lack of the establishment of dynamic optimization model analysis before and after cargo space moving.Using the data before and after the movement that can record, considering three elements:improring the efficiency of the goods moving into and out of the warehouse, storing related products together, decreasing transportation time of moving products in the process of slotting optimization, a multi-objective model is put forth in this paper based on time. The simulation results of example solved by genetic algorithm using matlab show that this method can effectively achieve slotting optimization, recorded data before and after optimization can be effectively saved into the automated warehouse management system, and slotting optimization is an effective way to automated warehouse to reduce storage management costs, improve inventory management efficiency and effectiveness. References | Related Articles | Metrics

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Equilibrium Analysis of the Impact of Service Expenses on Firm Value in a Competitive Market ZHENG Xiao-na 2013, 21 (6):  113-122.  Abstract ( 1963 )   PDF (1812KB) ( 2006 )   Save Firms invest in services to attract new customers and to keep existing ones. However, it is not clear whether service expenses will improve firm profitability. Through analytical modeling, the impact of market factors on firm value in a competitive market is investigated in this paper. A deterministic demand model that captures two firms' pricing and service competition is employed and the degree of product differentiation and market concentration is incorporated. Firms' optimal decisions are compared in three scenarios: (Ⅰ) firms engage in price competition and neither invests in customer service; (Ⅱ) One firm makes decision on price and service investment and the other only on price; (Ⅲ) Both firms make price and service investment decisions simultaneously. By comparing the equilibrium profits across the three scenarios, it can be found that in equilibrium, both firms invest in customer service. In particular, the value of service expenses increases with the degree of product differentiation, and the firm's market share. That is, in a market featuring high product differentiation, service expenses will bring higher value to the firm. And in a highly concentrated market, service expenditure is more likely to create higher value for the firm with a larger market share. References | Related Articles | Metrics

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Design the Financing and Pricing of Commodity-linked Bonds in China WEN Hui-hui, FAN Cheng-lin 2013, 21 (6):  123-131.  Abstract ( 2122 )   PDF (2046KB) ( 2002 )   Save By the purpose of solving the problem on government bond credit risk, including lack of corporate bonds varieties and improper policy regularity, a research is conducted in this paper on the devising, pricing theories, methods and application of commodity-linked bonds in China. Conclusions obtained are as follows. Firstly the incomplete market commodity-linked bond valuation equation should be deduced with the stochastic convenience yield; Then, the intrinsic relationship among multi-variables and the processing of the multi-dimensional data-space should be proposed so as to indicate the valuation trajectories; Furthermore, the value expression of commodity-linked bonds under price control should be deduced so as to simulate the real-world devising and pricing of commodity-linked bonds. As an example, the paper designs a general crude oil linked bond which related to the Daqing crude oil in China is designed in this paper. By the method mentioned above, the value sensitivity is analyzed with the variables, and the value changing track is described. Key technical problems such as the sample design, valuation, information integration and simulation platform of commodity-linked bonds in China are addressed in this paper. References | Related Articles | Metrics

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Research on Multi-attribute English Auction based on Power Utility functions YAO Sheng-bao 2013, 21 (6):  132-138.  Abstract ( 2033 )   PDF (964KB) ( 2399 )   Save In this paper,multi-attribute auction is studied in the context of procurement. The considered auction problem has the following two characteristics. One is that the auction contains any finite attributes,conother one is that the utility functions of the auctioneer and the bidders are additive power functions. Firstly, a multi-attribute English auction is designed in which the auctioneer announce the scoring function in advance and the bidders submit bids one by one. Secondly, the optimal bidding strategy of the bidders is analyzed based on the assumption that bidders are symmetry. The optimal bidding price and the optimal values of the non-price attributes are determined. Thirdly, it is proved that the bidder with the lowest cost will win at last only if the minimal increment is small enough. Furthermore, the winning bid can be predicted. At last, the expected payoff of the buyer in the proposed auction is estimated. From the buyer's point of view, the optimal values of the announced weights of the scoring function are calculated. References | Related Articles | Metrics

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Modelling and Optimization of Grades Decision Problem Under “Five Grades Ganged” Mode SHAO An-lin 2013, 21 (6):  139-144.  Abstract ( 2533 )   PDF (1158KB) ( 2049 )   Save In mining metallurgical engineering, the geological grade, mining grade, feed grade, concentrate grade and charged grade are reciprocal and interactive and the dynamic optimization of them is basic to the "five grades ganged" engineering management mode. Firstly, the grade capacity relationship in the production stages is analyzed, including mining, ore blending, beneficiation and smelting. The grade-cost relationship model and the related grade-cost marginal model are derived. The grade chained cost models are then built and a Grade-Cost Marginal Index (GCMI) is also proposed. At last, a "five grades ganged" optimization method is developed to adjust the grades.A series of numerical samples from the Ansteel Mining are applied to the modes to compute the practical analysis results which are all reasonable to the production situation. References | Related Articles | Metrics

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TOPSIS Decision-Making Method with Three-Parameter Interval Number Based on Entropy Measure YAN Shu-li, LIU Si-feng, ZHU Jian-jun, FANG Zhi-geng, LIU Jian 2013, 21 (6):  145-151.  Abstract ( 2304 )   PDF (1017KB) ( 1777 )   Save Ordering method of three-parameter interval numbers and decision-making model are studied in this paper. Firstly, a new method of the possibility ranking based on gravity center, midpoint, and the length of three-parameter interval numbers is proposed. Then, the distance formula of three -parameter numbers is established according to the most likely appearing characteristic of gravity center. Furthermore, a new attributes' weight model based on entropy measure of the three-parameter interval numbers is established. Based on the new distance formula and ordering method of three-parameter interval numbers, an uncertain decision making structure is introduced according to the TOPSIS. Finally, numeral example shows the practicality and effectiveness of the proposed method. References | Related Articles | Metrics

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Dynamic Game of the Upstream and Downstream Business Decisions based on Duble-level Particle Swarm Optimization YANG Guang-qing, LIU Tao 2013, 21 (6):  152-160.  Abstract ( 2145 )   PDF (2043KB) ( 1689 )   Save The mutual influence effect from the corporate decision-making is more significant in the oligopolistic market structure. At this point, the corporate finance decisions and output decisions not only affect their own profits, and will affect their competitors and suppliers, that is, the strategic effect of the business decisions. In this paper, the dynamic game model of the upstream-downstream business decisions is established with considering product substitution and market fluctuations. A double particle swarm algorithm against that decision of nonlinear bilevel programming features is designed. Then the enterprise decision-making is analyzed by using computer simulation technology. It can be found that, firstly, product substitution has a "competitive effect" on downstream enterprises and "amplifying effect" on the decline of production and profit of upstream enterprises. Compared with debt financing limited liability effect, the "competitive effect" of the product substitution have a greater impact on production game and profit of the downstream enterprises. In addition, debt limited liability effect and debt bankruptcy effect together affect the impact of product substitution on the bankruptcy equilibrium critical point of downstream enterprises. Secondly, the impact of fluctuations in the market environment on production decision-making and financing decision is consistent with Wanzenried[1], but the impact on profit of upstream and downstream enterprises is not consistent. Finally, when considering the two cases of debt financing and no debt financing, regardless of lower or higher product substitution, a higher degree of fluctuations in the market environment urge the financing enterprises to consider the strategic role of debt, and the phenomenon of "Prisoner's Dilemma" exists in downstream enterprises' financing decisions. Upstream firm's monopoly position in the market strengthens the impact of the "amplifying effect" of debt financing for downstream enterprises on its profit. References | Related Articles | Metrics

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Dispatcher Scheduling Problems Based on the Minimum Peak Workload REN Qing-juan, XU Bao-guang, XU Jin-hua 2013, 21 (6):  161-168.  Abstract ( 2439 )   PDF (1024KB) ( 2229 )   Save The problem studied in this paper comes from the dispatchers' department of airline operation control centers. When dispatchers dispatch the flight, it is necessary to ensure punctuality for flights to take off, and regulate the rhythm of flight dispatched to ensure the quality of dispatch. The problem is described as a single machine scheduling problem with n task in this paper. Each task has release time, deadline and processing time, and the goal is to minimize the peak load of the machine, restrict to the conditions of each task ended before its deadline. Under the goal, an effective algorithm and the proof of the performance of algorithm are proposed. References | Related Articles | Metrics

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Knowledge Collaboration in Service Outsourcing：Bidirectionality, Relationality and Complementarity LIU Zheng-chi, XIE Si, LAI Ming-yong, TANG De-ming 2013, 21 (6):  169-176.  Abstract ( 1915 )   PDF (1117KB) ( 1649 )   Save As the proportion of knowledge-intensive projects increased, knowledge collaboration has become the most important part of the organizational strategy of service outsourcings. In this paper, how the service outsourcing organiztion's productivity depends on the firm's knowledge collaboration is studied, importance of the bidirectionality, relationality and complementarity of shared knowledge in service outsourcing activities is asserted.Then,all of them are summarized into a conceptual model. From this point of view, a two stage dynamic game model is set up, and the game equilibrium between outsourcer and outsourcing is analyzed according to their two kinds of cooperation mode. Three propositions are proposed: Firstly, there are bidirectional incentives in knowledge sharing between outsourcer and outsourcing; Secondly, cooperative knowledge sharing decision model, which is based on the good relationship between enterprises, is beneficial for the organization; Finally, higher knowledge complementarity has a positive role in promoting knowledge sharing. References | Related Articles | Metrics

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China Underwriter’s Reputation in the SEO：Based on the Traded-based Manipulation ZOU Xiao-feng, FU Qiang 2013, 21 (6):  177-184.  Abstract ( 1957 )   PDF (1486KB) ( 1685 )   Save The domestic market system is not only the instinct reason of the invalidation of the underwriter's reputation certification in China, but also the key factor of China underwriter's traded-based manipulation. In this paper, a model about China underwriter's reputation is set up to analysis the reputation formation and the impact of the traded-based manipulation and the system factor. The set up results indicate that the SEO traded-based manipulation makes China underwriter's certification invalid. One bad state is the consistency of the delinquency, another is a vicious circle similar to the cobweb theory, that the lower underwriter incline to due diligence instead, completely different form the mature market's certification effect. So that a new model is given for the invalidation of the underwriter reputation certification effect in China, and at the same time the governors can perfect the domestic underwriter's reputation mechanism. References | Related Articles | Metrics

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Study on Military Technical Talents Training Plan with Robust Optimization LIU Xiao-wu, WANG Ying 2013, 21 (6):  185-192.  Abstract ( 1953 )   PDF (1071KB) ( 2058 )   Save In order to adapt the dynamic changes of the demand for technical talents, in this paper,the uncertainty of the quality needs for the technical talents are discretized into three different situations, and the robust optimization model of military talents training is established through the method of robust optimization. The example of talents training programs in the next few years is set to explain the solving methods of robust optimization model based on the background of information construction. The results show that the stability and feasibility of the robust optimization model are much better than other model in the process of talents training planning. References | Related Articles | Metrics