金融工程对我国国有银行信用风险管理的启示

多年来信用风险都是各国银行所面临的主要风险,由于历史的原因我国国有银行的信用风险管理问题显得更为突出.针对国有银行信用风险管理现状,引入最新的金融工程的方法和理念,从技术创新和制度创新的角度对国有银行的信用风险管理提出建议.     

Collision Risk Mitigation in Geostationary Orbit

The short- and long-term effects of spacecraft explosions, as a function of the end-of-life re-orbit altitude above the geostationary orbit (GEO), were analyzed in terms of their additional contribution to the debris flux in the GEO ring. The simulated debris clouds were propagated for 72yrs, taking into account all the relevant orbital perturbations.The results obtained show that 6–7 additional explosions in GEO would be sufficient, in the long term, to double the current collision risk with sizable objects in GEO. Unfortunately, even if spacecraft were to re-orbit between 300 and 500km above GEO, this would not significantly improve the situation. In fact, an altitude increase of at least 2000km would have to be adopted to reduce by one order of magnitude the long-term risk of collision among geostationary satellites and explosion fragments. The optimal debris mitigation strategy should be a compromise between the reliability and effectiveness of spacecraft end-of-life passivation, the re-orbit altitude and the acceptable debris background in the GEO ring. However, for as long as the re-orbit altitudes currently used are less than 500km above GEO, new spacecraft explosions must be avoided in order to preserve the geostationary environment over the long term.     

Space traffic control: a view of the future

This paper provides an overview of a system for providing reliable, ongoing, timely situational awareness services to satellite operators. Such services would include close approach warnings, warnings of potential radio frequency interference, and other offerings designed to help make operators aware of possible threats to the safe operation of their spacecraft and measures they can take to lessen these threats. The paper discusses current trends, proposes operational requirements, and speculates on the type of organization that may emerge to provide space traffic control services. It highlights how the detailed information required for such services may affect the evolution of the use of space.     

Tether Satellite System Collision Study

A study was performed to determine the probability of collision with resident space objects and untrackable debris for the tether component of the Tethered Satellite System (TSS) after it broke away from the Space Shuttle orbiter (mission STS-75) in February 1996. Both an analytical and a numerical approach were used in this study, and the results obtained with these two methods were found to be in good agreement. These results show that the deployed tether is expected to have been impacted by several particles 0.1mm or larger in size. The probability of collision with objects 10cm in size or larger was on the order of 10^–3 per month. Since the severed tether reentered within one month after deployment, the collision hazard to other objects while in orbit was small. The analytical methods used in this study are useful for tether collision evaluations in general.     

基于Convexity模型的航空公司利率风险管理

国际性特征日趋明显的中国航空公司正面临着金融市场上的诸多不确定性,其中利率风险日益凸显.将Convexity模型这一在西方发达国家较为成熟的风险管理工具引入中国,并将其应用到中国航空公司的风险管理实践,对利率风险进行了极为精确的量化评估,最后给出了相应的规避方法.     

鸟撞飞机的一般规律和防撞措施

 1.按月份统计的事故次数 不同月份鸟撞事故的次数有明显的差别。图1中实线是中国空军1957年～1982年50例的统计情况;虚线是美国空军1966年～1972年2492例的统计情况。资料表明,每年4月、5月、9月、10月为事故多发期,约占60％。日本一家民航公司1981年～1983年的统计表明约有60％的事故发生在7月～10月中。究其原因,一是春秋两季为候鸟迁徙期;二是此     

大型复杂仿真系统模型验证的有效途径

根据大型复杂仿真系统的特点,提出了利用贝叶斯(Bayes)理论对大型复杂仿真系统模型进行验证的方法,建立了检验建模与仿真(M＆S)中的复杂假设的规则及实现算法,经过部分实例证明此方法是一种准确、通用和有效的方法。     

一种多目标随机决策方法及其应用

本文通过引进决策方案的可行度和决策者参考目标水平的满足度等概念,提出了一种不确定条件下的多目标随机决策方法——交互式参考目标满足度与可行度决策分析中,取得了较好的效果。     

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。     

投资项目经济评价的意义,方法及程序

经济评价是项目投资风险分析的重要工作。本文阐述了投资项目经济评价的目的，意义，内容及特点，介绍了经济评价的方法及程序；提出了经济评价工作中应注意的事项。