Investor sentiment can help people to correctly understand the mechanism of stock market, which further can be used to market regulation and investment strategy. On the basis of a comprehensive definition of investor sentiment, a theoretical analysis about the relationship between investor sentiment and spot return is given, and five hypotheses of investor sentiment are concluded. With the available proxies, the principal component analysis is used to build an investor sentiment index for China's stock market. EGARCH models are used to evaluate how movement of sentiment affects spot return and the different effects towards different types of stocks. These empirical results provide a good support for the theoretical analysis.

The piece-wise smoothy Lyapunov function is used for the error analysis of the second order ESO. It is indicated that the nonlinear ESO has ability to get better estimation precision. For the better estimation precision the conditions that should be satisfied by the parameters of ESO are obtained.

A three-species ratio-dependent predator-prey food chain model with time delays is investigated.It is shown that the system is uniformly persistent under some appropriate conditions,and sufficient conditions are obtained for the global stability of the positive equilibrium of the system.

In this paper, we study the uncertain multi-attribute group decision-making problems in which attribute assessments are given in the forms of fuzzy linguistic assessments, and define a scale of the fuzzy linguistic assessments and give the corresponding representation of triangular fuzzy numbers. We also utilize a generalized induced ordered weighted averaging (GIOWA) operator to aggregate the fuzzy linguistic assessment information. A method based on the fuzzy linguistic assessments and the GIOWA operator for multi-attribute group decision-making problems is proposed. Finally, an illustrative example is also given.

Observing the development of the control theory one sees that there are basically two diff-erent approaches:Model Analysis and Direct Control Approach.In the past three decades themodel analysis approach has been the dominating one,while the classical regulation theory andthe guidance theory,etc.are of Direct Control Approach.There is no clear line between the linearity and non-linearity in control systems.The pur-pose of the control is,more or less,a kind of time-varying process of optimization;it is not aglobal system optimization.The value of feedback is not necessarily a function of state variables;it may be some time-varying quantity.To solve the problems of robustness and adaptability of control systems,it is necessary toget rid of the mathematical model of the systems,and to find the control law,which does notdepend on particular expressions of the system.

For the compositive data envelopment analysis model (including C~2R model,C~2GS~2,model,C~2W model and C~2WH model) we give several equalities of sets which consist of DEA efficient(or weakly efficient) decision making units.coording to these equalities we can obtain adecomposition method for determining DEA efficiency of DMUs.

In this paper, the problem of the structural stability in descriptor systems isconsidered. By the use of Lyapunov method, some necessary and sufficient conditionsfor structural stabilities in descriptor systems are developed.

This paper focuses on loan limit indicator of seasonal inventory financing in supply chain financial innovation. According to the ``corporate and debt" method in trade credit and based on the logistic features of consigning-supervision mode and the relevant cost-benefit structure, this paper analyzes cash flow statement of borrowers. Then, this paper assumes downside-risk-averse banks instead of risk-neutral banks discussed in existing literature, and analyzes loan limit consistent to risk tolerance level of banks in seasonal inventory financing. The results show that downside-risk limits can control the risk of seasonal inventory financing and make the loan consistent to risk tolerance level of banks.

In this paper, we study the uniqueness and existence of fixed points for a class of mixed monotone mappings in the partically ordered linear space. The iterative methods are also discussed. Nor the continuity or the compactness of mappings is assumed. The corollary improves some well-known results of increasing or decreasing operators. The obtained results are then applied to the singular boundary problems in ordinary differential equations.

In this paper, we study and review the existence and stability of Nash equilibria.

This paper gives complete results concerning the existence, uniqueness and nonexistence of limit cycles for a class of cubic systems x=-y(1-ax)(1-ax)+δx-lx3, y=x(1-ax)(1-bx).

In this paper, the zero order Dirichlet series on the complex plane is thoroughly studied using index of the maxium term and relatively loose coefficient conditions. And concerning the growth of the zero order Dirichlet series two theorems (namely Theorem 1 and Theorem 2) are obtained.

我们知道,至今讨论涉及(h,φ)-凸函数和广义(h,φ)-凸函数的规划的文章较少,特别是这方面的半无限规划的文章更少.本文正是利用 Ben-Tal 广义代数运算,给出了(h,φ)-凸函数的一个定理,扩充了(h,φ)一凸函数的概念,得到了一类半无限广义凸规划的最优性充分条件.

DEA has the unique advantage to evaluate the relative efficiency of different DMUs with more than one input indexes and output indexes. Firstly, this paper used Super-Efficiency DEA model to evaluate the total-factor energy efficiency and compute the Energy-Saving and Emission-Reduction Potential of steel industry in various regions of China during 2005--2007. Then we analyzed the variation of energy efficiency of steel industry dynamically using Malmquist index. Finally we analyzed the factors influencing Energy-Saving and Emission-Reduction of steel industry using Tobit regression analysis model.

In this paper,we construct a new class of singular models of disocounted problems,whichare an extension of the models in [2].For these extended models,we give conditions of theexistence of their optimal controls,and constructions of these optimal controls if they exist.

In this note we establish some sufficient conditions for almost sure convergence of weighted sums of mixing sequences. These results extend and improve Theorem 3 of Chow[1],Theorem 3 of Thrum[2], Theorem 4.1.5 of Stout[3] and Theorem 4 of Georgiev[4].

In this paper we study an optimal consumption-portfolio selection problem in frictional markets. When the financial assets and the states of nature are finite and when the friction is subject to proportional transaction costs, we characterize the existence or a necessary and sufficient condition of an optimal consumption-portfolio policy by no-arbitrage of the original market as well as a transformed market.

Total Control of Pollutant Discharge is an important way of prevention and cure of pollution,allocation of pollutant discharge quota is the core of total control work.The article puts forward allocation principle of pollutant discharge quota on economical optimization (P~1 Plan),fairness(P~2 Plan) and continuity of economic development (P~3 Plan) basis,and studies group decision method on the basis of the P~1 and P~2 and P~3 plans.The group decision allocation model of pollutant discharge total is given.

In this paper, some existence and uniqueness theorems of positive fixed points for a class of noncompact decreasing operators are obtained; moreover, the existence and the structure of positive eigenvectors are studied, and then they are used to

Positive solutions for a class of high order nonlinear neutral difference equations with variable delay are studied in this paper. By the principle of contraction mapping in Banach space, existence criteria for eventually positive solutions are obtained.

In this paper, predator-prey systems with periodic impulsive effect concerning pest control are proposed through biological control and chemical control. The model has the potential to protect natural enemies from extinction, but under some conditions may also serve to demonstrate the extinction of the pest, that is, there exists a global stable pest-eradication periodic solution when the impulsive period is less than some critical values. When the impulsive period increase, the trivial periodic pest-eradication solution loses its stability and a positive periodic solution comes out. The existence of a positive periodic solution is also studied by the bifurcation theory. Conditions for permanence is established via the method of comparison involving multiple Liapuno$\grave{\rm v}$ functions.

In this paper,necessary and sufficient optimality conditions in nonsmooth multiobjectiveprogramming are established with the help of the upper right Dini-derivative.

In this paper we consider a kind of M~x/G(M/G)/1 repairable queueing system with single delay vacation in which the vacation time,service time,repairing time and the delay vacation time are all arbitrary distributions.By using a concise method,we obtain the transient solution,stationary solution and stochastic decomposition of the queue length.Simultaneously we also give out the stochastic decompositions of the queue lengths in some special cases.

In this paper, we investigate the well posedness and the optimal harvesting problem for a class of nonlinear time-dependent population system with diffusion. Both existence and uniqueness of a positive solution are proven using the fixed point theorem. Existence of the optimal harvesting rate control is given, and the necessary condition for optimality and the uniqueness of the optimal control is obtained.

In this paper,we propose the vertex coordinate formula and two valume formulas on sim-plex with feet of perpendicular as vertexes and a trigonometric inequality on the higher di-mensional space vertex-angle.By means of these conclusions,we completely solve the conjec-ture put forth by Su Huaming (Shuxue Tongbao,5(1985),43—46).Besides,we have gener-alized and improved the main results of some previous papers.

This paper presents a general model of trust region algorithms, including theusual trust region algorithms based on quadratic models (e.g. in [4]) and the algorithms in[1] as their subclasses. The stronger global convergence and the superlinear

In this paper we analyse the term structure of interest rates in frictional markets by using the no-arbitrage approach. For a market with finite bonds and finite and discrete times to maturities and with frictions including proportional transaction costs, bid-ask spreads, and taxes, the concept of a consistent term structure is introduced, several existence results or necessary and sufficient conditions for a consistent term structure or for an arbitrage opportunity are derived, and a method for identifying and computing a consistent term structure or an arbitrage opportunity is presented.

This paper considers the following two inverse eigenproblems:(I) Given λ,μ∈R (λ >μ), and 0 ≠x, 0≠ y∈ Rn. Find an n × n Jacobian matrix J such that Jx =λx, Jy = μy, where (a) λ> λ2(J) >... > λi-1(J) >μ > λi+1(J) >... > An(J),(b) λ

Abstract In this paper, when the general exponential condition holds, we study the relations between the order of growth and regular growth of Dirich1et series of finite order in the right half-plane and the coefficients, and obtain two necessary and sufficient conditions.

This work analyzes the optimal harvesting of an age-based predator-prey system. Existence and uniqueness of non-negative solutions to the system and the
continuous dependence of solution on control variable are proved. Existence of the optimal policy is discussed, and the optimality conditions are derived by means of normal cone and Dubovitskii-Milyutin theorem.

A finite element methot for an initial-boundary value problem of a nonlinear hyperbolicequation is studied.Problem Ⅰ:(?)Problem Ⅱ:(?)Problem Ⅲ:(?)The error estimates for a semi-discrete finite approximation are considered.

in this paper, we introduce a new concept, the strictly efficient point, in vector optimization in Banach spaces. This concept is shown to have many desirable properties and to be an extension of the super efficient point in Borwein's sense. Par

In this paper the oscillation of the differential equations with damping(a(t)ψ(x(t))x′(t))′+p(t)x′(t)+q(t)f(x(t))=0is discussed.Five new theorems are established.The results generalize and improve someknown ones.

The set-valued optimization problem with constraints (VP) is considered in the sense of strict efficiency in Hausdorff locally convex linear topological spaces. Under the assumption of the nearly cone- subconvexlikeness, by applying separation theorem for convex sets, Kuhn-Tucker type and Lagrange type optimality conditions for (VP) are derived respectively, and two kinds of unconstrained programs equivalent to (VP) are established.

On the basis of the auction formalism in Onsale, Inc., we study the following optimization problem. Here a given total number of items should be sold in a given time horizon which is divided into several time periods, and at each period there is an auction to sell the items offered optimally. The remaining items at each period can be sold at the next period until the time horizon is ended. It is formulated as a Markov decision process and its optimality equation is solved separately for two types of the reserve price which is announced or private. Finally, we conclude that the auctioneer can gain more expected total profit if he doesn't open the reserve price, which is, moreover, validated by numerical examples.

In this paper, an SEIR epidemic disease model with integral delay and vertical transmission is considered, and dynamics behaviors of the model under pulse
vaccination are analyzed. The sufficient condition for infection-extinction is obtained. Then, by using the theory on delay functional and impulsive differential equation theory, the sufficient condition of the permanence for the system with time delay is given. Finally, it is shown that time delays and pulse vaccination can bring obvious effects on the dynamics behaviors of the model.

This paper discusses the oscillation of solutions to systems of nonlinear hyperbolic partial functional differential equation of neutral typewhere Ω is a bounded domain in Rn with piecewise smooth botmdary,The sufficient conditions are obtained

In this paper, we present some criteria for the oscillation of a class of the second order nonlinear differential equations with damping. The results generalize the known results of Cecchi M and Marini M ({\it {Rocky Mount J Math}} 22 (1992), 1259-1276).

In this paper,by the use of a new comparsion result and Monch fixed point theorem,the existence of global solutions of initial value problem for nonlinear integro-differential equations of mixed type in Banach spaces is investigated.As an application of our result,the existence of global solutions for two classes of third order mixed boundary value problem is obtained.

A class of nonlinear problems for the singularly perturbed recation diffusion equations with time delays are considered. Under suitable conditions, using the comparison theorem the asymptotic behavior of solution for the initial boundary value problems are studied.