This paper aims to assess the performance of trading strategies based on the investment recommendations(Trading ideas)made by security analyst,who regularly publishes stock recommendation and earnings forecasts.This paper seeks to describe the investment recommendations,earning forecast error and the source of the error.Our results suggest that these trading ideas have not been useful for stock selection.A decomposition of the errors suggests that the errors are largely random and based on an inability of security analysts to predict at firm,rather than industry and economy level.
This paper endeavors to explain the politeness in pragmatic use and its cultural specificity.First,to intrpret politeness from China and Western Countries'historical background.Secondly,do some brief pragmatic studies of politeness carried out by western and Chinese scholar:CP,PP.The Face theory and Gu's Chinese Politeness Principle.Thirdly,from comparing the differences of politeness orientation in western countries and China to explain the cultural values of politeness.
In this study, panel regression models are employed to explore the impacts of low-carbon policies on the green transformation of high-carbon emitting enterprises. By measuring the intensity, breadth, and validity of low-carbon policies, these three dimensions of low-carbon policies were found to influence the green transformation of these enterprises to varying degrees. The policy breadth has the strongest facilitating effect on the green transformation.
We investigate the reaction of market to environment pollution events of listed firms,and further explore if the first disclosure of pollution events affect the actions of different investors.By using a dataset on environment pollution since 2010 and high-frequency trading data in stock market,we find that the environment pollution causes a value decline of listed firms overally,while the stock market only reacts to the environment pollution exposed by media instead of the government.However,unlike individuals,institutions don't sell significantly.This finding indicates that environment protection responsibilities of the firms are not significantly reflected in the market price mechanism.The lack of the punishment further results in the different reactions between individuals and institutions.Our study has clear policy implications: the regulators should pay more attention to environment protection publicizing,encourage the media's monitor on the firm behaviors and use the finance market as the effective supplement of environment punishment to decrease the negative externalities of environment pollution.Meanwhile,regulators of capital market should formulate and issue relevant systems to promote the environmental information disclosure of listed companies.In general,our paper introduces the financial theory into the field of environmental economics,and provides clear policy implications on the issue of green finance,which is a new conception advocated by our government.
Administration of anti-CD19 chimeric antigen receptor (CAR)-modified T cells for B-cell malignancies has been remarkably effective in recent clinical trials. To investigate the critical parameters affecting efficacy and evaluated the safety of using CAR T cells targeting CD19 in B-lineage malignancies. We performed a systematic review of reported phase I clinical trials using CAR T cells targeting CD19 in B-lineage malignancies.We searched Medline and Embase for studies on anti-CD19 CAR-modified T cells in patients with B-cell malignancies in October 2014. Univariate analyses were performed using the Kaplan-Meier method, and a Cox regression model was used to determine the independent prognostic factors of progression-free survival (PFS).Six trials involving 50 patients were included in this review. After CAR T-cell infusion, the overall response rate was 48% (complete responses in 24%). The 6-month PFS and 1-year PFS were 43% and 27%, respectively. Statistically significant factors favorably influencing PFS were conditioning chemotherapy (P < 0.001), B-cell aplasia (P = 0.040), and durable persistence of CAR T cells (P = 0.013) in univariate analyses. After multivariate analysis, conditioning chemotherapy remained as an independent prognostic factor for PFS. The most common adverse events were fever, hypotension, rigor, fatigue, bacteremia, chill, dyspnea, and headache, but all were temporary and resolved.Anti-CD19 CAR-modified T cells have shown therapeutic efficacy in patients with B-lineage malignancies and were well tolerated in most patients. Conditioning chemotherapy is a prerequisite to improve the clinical outcome.
Since the 1990’s, the online peer review has held the growing amount of attentions and has turned into a research focus for global educational experts and language professionals. However, there are very limited studies worked on the part of online peer review. In this paper, we stressed on the effectiveness of online peer review on improving EFL writing among Chinese undergraduates. Two groups are picked as the experimental group and the control group respectively, the conclusion was made on the basis of carefully collected data and qualitative- quantitative methods. The results proved that the online peer review contributed to the effectiveness for college students’ writing performance. Admittedly, our research has deficiencies in both width and depth of processing and analysis. More efforts are expected to carried on the afterward exploration.
There are different system connotations in the economic development and growth.It is not far enough that the developing countries only possess the essential factors of production(e.g.labour forces,capitals,technologies,etc.)to realize the economic growth,but have the system conditions to raise the efficiency of the allocation of resources and to promote the economic growth.More rapid economic growth is the reflectfion and result of the system changes and perfections.Now the competition of the world economy is the competition of the system efficiency and the system's goods and bads among the all countries.
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