A Theoretical Analysis of Underpricing in IPOs Based on the Irrational Behavior of Investors

Employing the standpoint of irrational investors in the behavior finance, the authors study the relation on the irrational behavior of medium and small Investors and underpricing of IPO in our country. The paper premises that a revenue-maximizing issuer will be regarded as the target function, and the rational institutional investors can be delegated the task of holding the stocks in the after-market for resale to the irrational medium and small investors--thereby extracting surplus from them, finally the issuer can maximize their expected revenue. We model the process mentioned above and find that the high underpricing of IPO in our country has the direct relation with numerous the irrational medium and small investors existing in our country who cause the underpricing.     

Asymmetric Exhaustive Service Polling System with Bernoulli Feedback

This paper studies asymmetric exhaustive service polling system with Bernoulli feedback,gives the distributions of queue lengths and sojoun times,and obtains some other results,in stationary condition.     

Experimental Study on the Deformation Characteristics of Fine-Sandstone Under the Loading and Unloading Conditions

The deformation characteristics of the fine-sandstone is studied under the loading and unloading conditions at the three different deformation-rates and the two different stress-levels. The experimental results show that there is really the plastic-loop in the deformation curve for the loading deformation curve is different from the unloading deformation curve. But the plastic-loop is nearly unchangeable since the second circulate loading. The residual-deformation is be almost zero since the second circulate loading, and that the slope of the deformation curve increases as the deformation-rate increases, and that the residual-deformation increases as the stress-levels increases.     

New Method of Founding Profile Equations and Pressure Angle Formula to the Cylindrical Cam Mechanism with Slide Roller-Follower

According to existent problems on design and application of the cylindrical cam mechanism with the slide roller-follower, the one correct concept about profile design and pressure angle is presented. Based on this concept, the theoretical profile,practical profile,meshing surface equations and pressure angle formula of the cam mechanism are built up by using opp.rotation analysis and offset surface principle. This method is very simple and clear, and avoids the abstract analysing process in meshing principle. The mathematic models built by this paper can be used to design,manufacture and check this type of cam mechanism correctly, and also create conditions to make deeply meshing property analysis of this mechanism.     

Review on Synthesis Refrectory Nanoparticles

In general, the process of synthesis the refractory nanoparticles Is classified as solid state, liquid state and gaseity. The new progress and development in the study of refractory nanoparticles are investigated. The synthesis technology of the refrectory nanoparticle in liquid state is discussed mostly. The refrectory nanoparticles is synthesized by the liquid state. The characteristics and the structure of the refrectory nanoparticles have been studied in this paper.     

A Study on the FMS Planning and Scheduling System

After researching the function requirements of the planning and scheduling in manufacturing cells, the paper advanced a control structure with three phases, i. e. planning , scheduling and dispatching. The paper represented in detail the main purposes, requirements and scheduling actions in each phase. It suits to general machining FMSs.     

A HIERARCHICAL CONTROL METHOD FOR REACTIVE POWER OPTIMIZATION IN LARGE-SCALED INTERCONNECTED POWER SYSTEMS

This paper presents a new hierarchical and coordinative control method for reactive power optimization in large-scale interconnected power systems. It combines the interconnection forecast method for hierarchical control in large-scale steady state industrial systems with the incremental linear programming method for reactive power optimization in real time. The results of applying the method to power system examples show that the method not only solves the problem of high dimension in order, but also keeps the advantages of the incremental linear programming method. The proposed method is also suitable for the security analysis of reactive power correction in large-scale interconnected power systems.     

Study on the Land Use Right in Urban Housing Dismantling and Moving

With the strengthening of constitutional protection that legal private property is not to be encroached upon and the land usufructs paid regime are further clear, the regime of urban housing dismantling and moving is facing a vigorous test. This paper analyzes three problems: the justice of the withdrawal of land use right, the legality of the alteration of the land use right and the rationality of the compensation of the land use right during the urban housing dismantling and moving. Finally, this paper tries to find some effective measures to solve the chain problems.