论衍生金融产品与企业风险管理——终端使用者的视角

从终端使用者的角度探讨了衍生金融产品在企业风险管理中的作用。首先回顾了企业风险管理的历史演变进程，指出衍生金融产品创新是金融市场对企业在利率、汇率和大宗产品国际价格变动加剧的环境下进行风险管理需求的反应。随后研究了衍生金融工具风险管理的内在机制，揭示衍生产品风险管理具有的低成本、高流动性和可靠性的特点。最后运用案例分析了当前金融衍生产品终端用户应注意的问题。     

Hydra — A 3-dimensional electron and ion hot plasma instrument for the POLAR spacecraft of the GGS mission

HYDRA is an experimental hot plasma investigation for the POLAR spacecraft of the GGS program. A consortium of institutions has designed a suite of particle analyzers that sample the velocity space of electron and ions between 2 keV/q – 35 keV/q in three dimensions, with a routine time resolution of 0.5 s. Routine coverage of velocity space will be accomplished with an angular homogeneity assumption of 16°, appropriate for subsonic plasmas, but with special 1.5° resolution for electrons with energies between 100 eV and 10 keV along and opposed to the local magnetic field. This instrument produces 4.9 kilobits s^–1 to the telemetry, consumes on average 14 W and requires 18.7 kg for deployment including its internal shielding. The scientific objectives for the polar magnetosphere fall into four broad categories: (1) those to define the ambient kinetic regimes of ions and electrons; (2) those to elucidate the magnetohydrodynamic responses in these regimes; (3) those to assess the particle populations with high time resolution; and (4) those to determine the global topology of the magnetic field. In thefirst group are issues of identifying the origins of particles at high magnetic latitudes, their energization, the altitude dependence of the forces, including parallel electric fields they have traversed. In thesecond group are the physics of the fluid flows, regimes of current, and plasma depletion zones during quiescent and disturbed magnetic conditions. In thethird group is the exploration of the processes that accompany the rapid time variations known to occur in the auroral zone, cusp and entry layers as they affect the flow of mass, momentum and energy in the auroral region. In thefourth class of objectives are studies in conjunction with the SWE measurements of the Strahl in the solar wind that exploit the small gyroradius of thermal electrons to detect those magnetic field lines that penetrate the auroral region that are directly open to interplanetary space where, for example, the Polar Rain is observed.     

Multiposition alignment of strapdown inertial navigation system

The authors demonstrate that the stationary alignment of strapdown inertial navigation system (SDINS) can be improved by employing the multiposition/technique. Using an observability analysis, it is shown that an optimal two-position alignment not only satisfies complete observability conditions but also minimizes alignment errors. This is done by analytic rank testing of the stripped observability matrix and numerical calculation of the error covariance. It is also shown that an optimal three-position alignment accelerates the convergence of the alignment error compared with two-position alignment     

Carrier Tracking by Smoothing Filter Improves Symbol SNR

The potential benefit of using a smoothing filter to estimate a carrier phase over use of phase-locked loops (PLL) is determined. Numerical results are presented for the performance of three possible configurations of an all-digital coherent demodulation receiver. These are residual carrier PLL, sideband-aided residual carrier PLL, and finally sideband aided with Kalman smoother. The average symbol SNR after losses due to carrier phase estimation is computed for different total power SNRs, symbol rates, and symbol SNRs. It is found that smoothing is most beneficial for low symbol SNRs and low symbol rates. Smoothing gains up to 0.7 dB over sideband-aided residual carrier PLL, and the combined benefit of smoothing and sideband aiding relative to residual carrier loop is often in excess of 1 dB.     

A Closely Regulated TWT Converter

The design concept for the traveling wave tube amplifier converter for possible use in the Thermoelectric Outer Planet Spacecraft (TOPS) is presented. An unusual combination of semiconductors and magnetics were utilized to achieve very stable voltage regulation on a number of separate outputs to satisfy the requirements of a high-power traveling wave tube (TWT), and at the same time operate at an efficiency of better than 90 percent from a 30-volt source. The circuitry consists of an output filter, an auxiliary Jensen oscillator driving a high-reactance transformer to provide current limiting to the heater, a variable time delay, a main Jensen oscillator driving the power transformer with a maximum step-up ratio of 120 to 1, and series transistorized post regulators to provide precise voltage adjustment and low output impedance. This paper discusses the design of the high-reactance transformer and the high step-up ratio transformer, as well as the high-voltage series regulators that are limited in range and operate at the top of the unregulated output voltage. Test data is presented, and details of current transients caused by charging the filter circuits, input current ripple, and output voltage ripples are considered. The circuit provides better than 0.5 percent regulation against load change, input voltage change, and over-operating temperature range of from -20 to + 80°C, with output ripple voltage of less than 2 volts peak-to-peak on top of the 3600-Vdc output. The measured efficiency was typically 87 percent. and recommendations are included to improve this to in excess of 90 percent.     

TC4钛合金紧固件孔E-I强化研究

 介绍TC4(Ti-6Al-4V)钛合金螺栓孔无衬套冷胀孔干涉配合综合强化的研究结果。实验证明,在给定的条件下,冷胀孔强化的TC4板状空孔试件的疲劳寿命增益系数(LIF)为13,干涉配合螺栓连接的LIF=3,而E-l强化件的疲劳寿命比单纯干涉配合又有成倍提高。电镜断口分析表明TC4合金强化件的疲劳裂纹的形成和扩展与LY12CZ及30CrMnSiA相似,它们不表现为典型的角裂纹,即沿板平面和厚向扩展速率有明显差异。对于TC4合金,在改善疲劳品质上,带衬套冷胀孔强化比无衬套冷胀孔强化好得多。     

Pulsations of the R Coronae Borealis stars

The radial pulsations of very luminous, low-mass models (L/M 10⁴, solar units), which are possible representatives of the R CrB stars, have been examined. These pulsations are extremely nonadiabatic. We find that there are in some cases at least one extra (strange) mode which makes interpretation difficult. The blue instability edges are also peculiar, in that there is an abrupt excursion of the blue edge to the blue for L/M sufficiently large. The range of periods of the model encompasses observed periods of the Cepheid-like pulsations of actual R CrB stars.     

Bounds on Elevation Error Estimates of a Target in Multipath

The Cramer-Rao bound for an unbiased estimate of the elevation angle of a target in the presence of multipath is calculated for the symmetric (target and image symmetric about the elevation symmetry plane of antenna) and nonsymmetric cases for an antenna consisting of 21 elements. These bounds are compared to the maximum likelihood estimates and it is found that the rms error of the maximum likelihood estimate (which has a bias) is below the Cramer-Rao bound for unbiased estimates.     

False alarm control using Doppler estimation

A technique which uses maximum-likelihood estimates (MLEs) of target Doppler and target amplitude is developed for rejecting clutter residues. Multiple estimates are made and consistency checks are applied to the estimates. Simulation results indicate that for large clutter-to-noise ratios (C/N⩾55 dB) the probability of false alarm from clutter residues is reduced from 1.0 to below 0.01