A study on institutional investors selecting better stocks: Evidence from SEOs in China
Rui Li Shaoyong Lai
Journal of Industrial & Management Optimization 2018, 14(2): 647-652 doi: 10.3934/jimo.2017066

Using the data of stock returns and the variations of quarterly institutional ownership around Secondary Equity Offerings (SEOs) in China from 2004 to 2008, we verify that institutional investors are smart in selecting stocks. Sorting the SEOs samples into two groups according to whether there is an increase or decrease in institutional ownership, we find no significant difference in stock returns between the two groups before SEOs, but higher returns among the group with increases in institutional ownership over 1 month, 3 month, 6 month, 9 month, 12 month and 18 month periods, respectively. This result indicates the evidence of the stronger stock selection ability of institutional investors.

keywords: Secondary Equity Offerings (SEOs) institutional ownership stock selection
The asymptotic solution of the Cauchy problem for a generalized Boussinesq equation
Shaoyong Lai Yong Hong Wu
Discrete & Continuous Dynamical Systems - B 2003, 3(3): 401-408 doi: 10.3934/dcdsb.2003.3.401
In this paper, we consider the solution of an initial value problem for the generalized damped Boussinesq equation

$ u_{t t} - a u_{t t x x}- 2 b u_{t x x} = - c u_{x x x x}+ u_{x x} - p^2 u + \beta(u^2)_{x x}, $

where $x\in R^1,$ $t > 0,$ $a ,$ $b$ and $c $ are positive constants, $p \ne 0,$ and $\beta \in R^1$. For the case $a + c > b^2$ corresponding to damped oscillations with an infinite number of oscillation cycles, we establish the well-posedness theorem of the global solution to the problem and derive a large time asymptotic solution.

keywords: well-posedness Boussinesq equation. Asymptotic solution
A selection problem for a constrained linear regression model
Shaoyong Lai Qichang Xie
Journal of Industrial & Management Optimization 2008, 4(4): 757-766 doi: 10.3934/jimo.2008.4.757
Selecting a good estimate for a constricted linear regression model is investigated by using the generalized information criterion. Some asymptotic properties of the selection procedure with the model average technique are established. It is shown that the selection procedure is asymptotically efficient in the sense that a fitted estimate asymptotically obtains the minimum average squared error from a class of model average estimators.
keywords: generalized information criterion Model selection optimality. constrained linear regression model
The existence of weak solutions for a generalized Camassa-Holm equation
Shaoyong Lai Qichang Xie Yunxi Guo YongHong Wu
Communications on Pure & Applied Analysis 2011, 10(1): 45-57 doi: 10.3934/cpaa.2011.10.45
A Camassa-Holm type equation containing nonlinear dissipative effect is investigated. A sufficient condition which guarantees the existence of weak solutions of the equation in lower order Sobolev space $H^s$ with $1 \leq s \leq \frac{3}{2}$ is established by using the techniques of the pseudoparabolic regularization and some prior estimates derived from the equation itself.
keywords: high order nonlinear terms pseudoparabolic regularization technique. weak solution Generalized Camassa-Holm equation
A stochastic optimal growth model with a depreciation factor
Shaoyong Lai Yulan Zhou
Journal of Industrial & Management Optimization 2010, 6(2): 283-297 doi: 10.3934/jimo.2010.6.283
This paper is devoted to the study of a one-sector stochastic growth model with the depreciation factor of the output and with bounded and unbounded utility, in which the shocks are allowed to be bounded or unbounded. Under certain assumptions, the existence of a unique optimal policy function for the model is shown to be true and the existence of an invariant distribution for the output process is confirmed.
keywords: Stochastic growth; depreciation factor; Markow processes; existence of an invariant distribution.
Channel coordination mechanism with retailers having fairness preference ---An improved quantity discount mechanism
Chuan Ding Kaihong Wang Shaoyong Lai
Journal of Industrial & Management Optimization 2013, 9(4): 967-982 doi: 10.3934/jimo.2013.9.967
Channel coordination is an optimal state with operation of channel. For achieving channel coordination, we present a quantity discount mechanism based on a fairness preference theory. Game models of the channel discount mechanism are constructed based on the entirely rationality and self-interest. The study shows that as long as the degree of attention (parameters) of retailer to manufacturer's profit and the fairness preference coefficients (parameters) of retailers satisfy certain conditions, channel coordination can be achieved by setting a simple wholesale price and fixed costs. We also discuss the allocation method of channel coordination profit, the allocation method ensure that retailer's profit is equal to the profit of independent decision-making, and manufacturer's profit is raised.
keywords: quantity discounts fairness preference coordination. Channel
The global solution of an initial boundary value problem for the damped Boussinesq equation
Shaoyong Lai Yong Hong Wu Xu Yang
Communications on Pure & Applied Analysis 2004, 3(2): 319-328 doi: 10.3934/cpaa.2004.3.319
This paper deals with an initial-boundary value problem for the damped Boussinesq equation

$u_{t t} - a u_{t t x x} - 2 b u_{t x x} = - c u_{x x x x} + u_{x x} + \beta(u^2)_{x x},$

where $ t > 0,$ $a,$ $b,$ $c$ and $\beta$ are constants. For the case $a \geq 1$ and $a+ c > b^2$, corresponding to an infinite number of damped oscillations, we derived the global solution of the equation in the form of a Fourier series. The coefficients of the series are related to a small parameter present in the initial conditions and are expressed as uniformly convergent series of the parameter. Also we prove that the long time asymptotics of the solution in question decays exponentially in time.

keywords: Global solution initial-boundary value problem Boussinesq equations.

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