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2019 16th International Conference on Service Systems and Service Management (ICSSSM)最新文献

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Analysis of the Effectiveness of China's Central Bank Bills Write-off Intervention 中国央行票据核销干预的有效性分析
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887603
Sha Jinlong, Liu Huangjin
Since the reform of the exchange rate system in China, in order to stabilize the RMB exchange rate, the people's Bank of China has committed itself to foreign currency markets and adopted various means to intervene actively. In recent years, China's sustained double favourable balance, foreign exchange continued to increase, the people's Bank of Chinese take active sterilization policy to maintain the currency, foreign currency market stability, resist foreign economic impact, in order to guarantee plays a very important role in economic sustainable development. Based on interest rate parity theory to construct mathematical model, makes an empirical test on the effectiveness of the people's Bank of Chinese bill sterilization operation in our country, analysis of relevant data from 2014 to 2016, through the inspection found the time period of the people's Bank of Chinese notes is basically effective sterilization operation.
中国汇率制度改革以来,为稳定人民币汇率,中国人民银行一直致力于外汇市场,采取多种手段积极干预。近年来,中国持续双顺差,外汇持续增加,中国人民银行采取积极的冲销政策,维护货币、外汇市场稳定,抵御外来经济冲击,为保障经济可持续发展发挥了十分重要的作用。基于利率平价理论构建数学模型,对我国人民银行票据冲销操作的有效性进行了实证检验,分析了2014年至2016年的相关数据,通过检查发现这段时间内人民银行的票据冲销操作基本是有效的。
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引用次数: 0
The value of bidirectional option contracts on the multi-period ordering under inflation 通货膨胀条件下的多期订单下双向期权的价值契约
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887687
Nana Wan, Xiaozhi Wu
This paper considers the rising market price and the time varying demand caused by the inflation. To manage these above risks, the retailer has an opportunity to place two different types of orders, viz., the firm order and the bidirectional options order, from the supplier in each period. This paper formulates a periodic-review inventory model for the retailer with bidirectional option contracts under inflation. Based on stochastic dynamic programming, this paper studies the structure of the optimal ordering policy in each period. Then this paper provides an approximation to evaluate the corresponding policy parameters. By taking the case without bidirectional option contracts as a benchmark, this paper demonstrates that the utilization of bidirectional option contracts might prompt the retailer to enhance the service level and improve the performance.
本文考虑了市场价格上涨和通货膨胀引起的时变需求。为了管理上述风险,零售商有机会在每个时期向供应商下两种不同类型的订单,即确定订单和双向期权订单。本文建立了通货膨胀条件下具有双向期权合约的零售商的定期回顾库存模型。基于随机动态规划,研究了各时段最优排序策略的结构。然后给出了一个近似的方法来估计相应的策略参数。本文以没有双向期权契约的情况为基准,论证了使用双向期权契约可以促使零售商提高服务水平,提高绩效。
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引用次数: 0
Content-enhanced Bayesian Personalized Ranking 内容增强的贝叶斯个性化排名
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887830
Xueqian Li, Liang Zhang, Guannan Liu, Junjie Wu
With the popularization of Knowledge Payment Products (KPP), more accurate recommendations are in great need to alleviate information overload of users. Bayesian Personalized Ranking (BPR) is one of the most representative pairwise ranking methods for recommendation, the performances of which greatly depend on the selection of negative feedback. However, traditional negative samplers may suffer from bias and noises. Therefore, in this paper, we focus on improving negative sampling strategy of BPR by incorporating side information of the knowledge products. We locate negative samples by calculating the cosine similarity among items by the textual features of KPP, under the assumption that a user shall have similar perceptions on items with similar content. We union our sampler strategy and the original one with different ratios. Compared to the original BPR that applies a uniform sampler on all the products, the join of our content-based sampler enhances BPR with a relative improvement over 4% on the ZhiHu Live dataset, which demonstrates the effectiveness of considering side information when capturing users' preferences on different items.
随着知识付费产品(KPP)的普及,迫切需要更精准的推荐来缓解用户的信息过载。贝叶斯个性化排序(BPR)是推荐中最具代表性的两两排序方法之一,其性能在很大程度上取决于负反馈的选择。然而,传统的负采样器可能会受到偏差和噪声的影响。因此,本文主要研究通过引入知识产品的侧信息来改进业务流程再造的负抽样策略。我们通过KPP的文本特征计算项目之间的余弦相似度来定位负样本,假设用户对内容相似的项目具有相似的感知。我们将我们的采样策略与原始的采样策略以不同的比率结合起来。与在所有产品上使用统一采样器的原始BPR相比,我们基于内容的采样器的加入在知乎Live数据集上提高了BPR,相对提高了4%以上,这表明在捕获用户对不同产品的偏好时考虑侧面信息的有效性。
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引用次数: 0
Vehicle Routing Problem with Multi-type Vehicles in the Cold Chain Logistics System 冷链物流系统中多类型车辆的车辆路径问题
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887612
Chu-Xuan Huai, Guo-hua Sun, Ranwen Qu, Z. Gao, Zehao Zhang
In this paper, a multi-objective model aiming to minimize both distribution cost and cargo damage cost is constructed to study the vehicle routing problem (VRP) with multi-type vehicles in the cold chain logistics system. Since VRP is an NP-hard problem, the optimal solutions cannot be obtained in a short time with exact algorithms as the scale increases. The genetic algorithms based on two decoding methods giving the priority to capacity and cargo damage are designed to solve the problem. The algorithm is applied to solve the distribution problem of H logistics company and the results obtained with two decoding methods are compared.
本文建立了以配送成本和货损成本同时最小化为目标的多目标模型,研究了冷链物流系统中多类型车辆的车辆路径问题。由于VRP是np困难问题,随着规模的增大,用精确的算法无法在短时间内得到最优解。针对这一问题,设计了基于两种解码方法的遗传算法,分别优先考虑货物容量和货物损坏。将该算法应用于H物流公司的配送问题,比较了两种解码方法的解码结果。
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引用次数: 5
Research on the Interaction of Information Disclosure and Channel Selection Strategies 信息披露与渠道选择策略互动研究
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887729
Qian Xu, Bingqian Mao, Huaming Song
In this paper, we use a game-theoretic approach to investigate quality disclosure strategies for a dual channel manufacturer facing a potential market entry. We develop a dual-channel supply chain model consisting of an incumbent manufacturer(F1), an incursive manufacturer(F2) and a retailer. In the first stage, F1 decides whether to disclose its quality information and F2 decides whether to sell products through a retailer. In the next stage, manufacturers decide the selling prices, or they decide the wholesale prices and the retailer decides the selling prices. We derive the optimal disclosure strategies of the incumbent and channel selection of the entrant. We show that in equilibrium F1 will disclose the quality within the disclosure threshold which depends on product similarity and disclosure cost. We compare thresholds in three cases and find that F1 has the strongest will to disclose quality when F2 invades from the online channel. Moreover, we derive the results on how the optimal selling prices, wholesale prices, manufacturers' profits change when the product similarity changes, and generate managerial insights of the research findings.
本文运用博弈论的方法研究了面对潜在市场进入的双渠道制造商的质量披露策略。我们开发了一个由现有制造商(F1)、入侵制造商(F2)和零售商组成的双渠道供应链模型。在第一阶段,F1决定是否披露其质量信息,F2决定是否通过零售商销售产品。在下一阶段,制造商决定销售价格,或者他们决定批发价格,零售商决定销售价格。我们推导出了在位者的最优披露策略和进入者的渠道选择。结果表明,在均衡状态下,F1将在披露阈值内披露质量,而披露阈值取决于产品相似度和披露成本。我们比较了三种情况的阈值,发现当F2从在线渠道入侵时,F1披露质量的意愿最强。在此基础上,推导出产品相似度变化时最优销售价格、批发价格、制造商利润的变化规律,并对研究结果产生管理见解。
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引用次数: 0
Short-sellers' Private Information Research: Based on the Perspective of Earnings Announcement 卖空者的私人信息研究:基于盈余公告的视角
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887757
Yan Zhou, H. Ding, Jia Hao
This paper selects relevant quarterly date from September 2013 to June 2016, and analyzes the relationship between short-seller's information and earning announcement. The results shows that short-selling activities increased significantly before negative earnings announcement, and there is a statistically significant negative correlation between them and post announcement stock returns. According to the empirical results and theoretical analysis, this paper argues that China's short-sellers are informed traders having negative private information, mainly conducting short-selling activity based on them, which makes negative information quickly enter the stock price, thus improving the pricing efficiency of stock.
本文选取2013年9月至2016年6月的相关季度日期,分析卖空者信息与盈余公告之间的关系。结果表明,在负收益公告前,卖空活动显著增加,且与负收益公告后的股票收益呈显著负相关。根据实证结果和理论分析,本文认为中国的卖空者是拥有负面私人信息的知情交易者,主要根据这些信息进行卖空活动,这使得负面信息快速进入股票价格,从而提高了股票的定价效率。
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引用次数: 1
Pricing Strategies with Buy-Online-and-Pickup-in-Store 网上购买和实体取货的定价策略
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887663
Hui Li, Xi Wang
Buy online and pick up in store (BOPS) is recently adopted by many retailers to attract customers to the store. We study the impact of this strategy on prices and profits of retailers. We build a model based on a Hotelling line where a retailer manages both the store and online channel in the presence of customers' strategic shopping behavior. We use customers' expectation utility to classify their choices. After BOPS is implemented, customers may choose to buy online directly, buy in the store directly or buy online pickup in store. For customers is uncertain whether the product is a good match, a part of customers who buy online directly will return it. When customers return the product, there is a loss to the retailer. We prove that BOPS can help the retailer gain higher profits under certain conditions. Then a revenue-sharing mechanism is proposed to allocate profits of the decentralized channels with BOPS. Besides, the loss of product returns may be reduced after the coordination is achieved. In a word, BOPS is a good way for retailers to draw customers to the store and make more profits. Even in a decentralized retail system where store and online channels are managed separately, a revenue-sharing mechanism can be designed to share the revenue across channels to mitigate channel conflicts and increase the profit of the whole supply chain.
最近,许多零售商采用了“网上购物,到店提货”(BOPS)来吸引顾客到店。我们研究了这一策略对零售商价格和利润的影响。我们建立了一个基于Hotelling线的模型,在这个模型中,零售商同时管理实体店和在线渠道,同时考虑到顾客的战略购物行为。我们使用客户的期望效用来对他们的选择进行分类。BOPS实施后,客户可以选择网上直接购买、到店直接购买或到店在线提货。对于不确定产品是否匹配的顾客,一部分直接在网上购买的顾客会退货。当顾客退货时,零售商就蒙受了损失。我们证明了在一定条件下,BOPS可以帮助零售商获得更高的利润。在此基础上,提出了一种收益共享机制来实现分散渠道的利润分配。此外,协调后的产品退货损失可能会减少。总之,BOPS是一个很好的方式,为零售商吸引顾客到商店,赚取更多的利润。即使在分散的零售系统中,在实体店和线上渠道分开管理的情况下,也可以设计一种收益共享机制,实现跨渠道的收益共享,以减轻渠道冲突,增加整个供应链的利润。
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引用次数: 2
Alternative Three Factor Model for Asset Pricing for the Investment, Market and Profitability Premium in Emerging Markets: An Evidence from Pakistan's Stock Exchange 新兴市场投资、市场和盈利溢价的可选三因素资产定价模型:来自巴基斯坦证券交易所的证据
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887691
Qingyu Zhang, Zulkaif Ahmed Saqib, Khubaib Ahmed Saqib, S. Mahmood, M. Cao
The assets pricing is one of the hot topics which are a debate zone of financial markets in emerging economies, and the appropriate pricing model has always been a focus of attention. The investment, market and profitability premium influence the portfolio return with alternative three factor model. This study conduct to the equity returns of Pakistan's companies. We are using half-yearly data for 2002- 2014 of one hundred non-financial listed firms at KSE. We do a regression analysis to investigate the impact of three factors (IP, MP and PP) on equity return. Finally, we do investigation and the investment and profitability premiums have a positive and significant impact on portfolio returns. The study also exposes that the alternative three factor model is an appropriate model aimed at the valuation of equities. The CNZ alternative Three Factor Model clarifies 60% −73% the portfolio returns and its explanatory power assortments. Therefore, investors, fund managers and decision makers should be account carefully for investments and profitability factors in their decisions regarding investment, financing and valuation.
资产定价是新兴经济体金融市场的热门话题之一,合理的资产定价模型一直是人们关注的焦点。采用可选三因素模型分析了投资、市场和盈利溢价对组合收益的影响。本研究针对巴基斯坦公司的股权收益进行研究。我们使用的是2002- 2014年KSE 100家非金融上市公司的半年数据。我们做了回归分析,探讨三个因素(IP, MP和PP)对股权回报的影响。最后,我们进行了调查,发现投资溢价和盈利溢价对投资组合收益有显著的正向影响。研究还表明,替代三因素模型是一种适用于股票估值的模型。CNZ替代三因素模型澄清了60% ~ 73%的投资组合收益及其解释能力分类。因此,投资者、基金经理和决策者在进行投资、融资和估值决策时,应仔细考虑投资和盈利因素。
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引用次数: 1
Study on Supervision Mechanism of Financing Platform Based on Evolutionary Game 基于演化博弈的融资平台监管机制研究
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887646
Wu Yingjing, Wang Yufan
With the frequent occurrence of financing platform problems, the supervision of financing platform is imminent. This paper chooses the evolutionary game method and considers the game model composed of government and financing platform. The research finds that the decision-making of government and financing platform affects each other, but it is difficult to control the risk of platform only depending on the constraints of platform itself. To some extent, the government's supervision of the platform can reduce the risks caused by platform auditing. This electronic document is a “live” template and already defines the components of your paper [title, text, heads, etc.] in its style sheet.
随着融资平台问题的频繁发生,对融资平台的监管迫在眉睫。本文选择演化博弈方法,考虑由政府和融资平台组成的博弈模型。研究发现,政府和融资平台的决策是相互影响的,但仅依靠平台自身的约束很难控制平台的风险。在一定程度上,政府对平台的监管可以降低平台审计带来的风险。这个电子文档是一个“活的”模板,它已经在样式表中定义了论文的组成部分[标题,正文,标题等]。
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引用次数: 0
A Comparative Study of Open Education Data between China and UK* 中英开放教育数据比较研究*
Pub Date : 2019-07-01 DOI: 10.1109/ICSSSM.2019.8887620
Zhenzhen Miao, Jun Zhai, Yan Lin, Changfeng Yuan
Open education data is one of the important measures to ensure education equity and promote lifelong learning. The UK government's practice of open education data is at the forefront of the world, which can be used as reference for China's implementation of the “Education Informatization 2.0 Action Plan.”. This paper introduces the UK government's open education data by means of network survey, literature analysis and comparative analysis, including concept definition, type distribution and typical application. The development of open education data in the UK has been quite in-depth and extensive, and has achieved practical results. China has a big gap in terms of open scope, data quality, data standard, development and application, and should refer to and learn from international advanced experience and practices.
开放教育数据是保障教育公平、促进终身学习的重要措施之一。英国政府开放教育数据的实践走在世界前列,可为中国实施“教育信息化2.0行动计划”提供借鉴。本文通过网络调查、文献分析、比较分析等方法,介绍了英国政府的开放教育数据,包括概念定义、类型分布和典型应用。英国开放教育数据的开发已经相当深入和广泛,并取得了实际成果。中国在开放范围、数据质量、数据标准、数据开发和应用等方面都存在较大差距,应借鉴和学习国际先进经验和做法。
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引用次数: 0
期刊
2019 16th International Conference on Service Systems and Service Management (ICSSSM)
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