ÐÏࡱá>þÿ ÎÐþÿÿÿÌÍÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿì¥Á]à ðR¿,[bjbjºöºö.”Øœ)\؜)\n#&ÿÿÿÿÿÿ·RRÕÕÕÕÕÿÿÿÿééé8!t•¤éù7ê9Æÿ(' ' ' (!(!(!`7b7b7b7b7b7b7$ã9¶™<z†7-Õ(!(!(!(!(!†7ÕÕ' ' ³7D6D6D6(!,Õ' Õ' `7D6(!`7D6D6:Ä6,7' ÿÿÿÿð¼ ¼‘ÏÿÿÿÿT2ð6 L7É70ù7ú6 =n4=7=Õ7H(!(!D6(!(!(!(!(!†7†7€5Ä(!(!(!ù7(!(!(!(!ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ=(!(!(!(!(!(!(!(!(!RI ›: ё‡f[NN;eû‹UxëXf[MOxvzuÿf[/g‹W ÿùW{Q¹eHh ÿNNãNxÿ 020204 ÿ N0ùW{Qîvh ùW{Q }(Oo‚0ÑSU\hQb— ÿán³>yOÏ~NmÑSU\—Bl„vё‡†˜ßWؚ§~ºNMb0\O:NbýVё‡SOû|R°e„vHQLˆ€ ÿё‡û|ß~3zš[„vô~¤b€ ÿё‡‹NNÑSU\„v†˜›Q€ ÿ:Nú^ËzbýVё‡†˜ßWؚïzzf“^Ðc›O/e‘d ÿ:Nž[°s -NýV¦h „vO'YKY—eIY.szfgaŒT›Rϑ0wQSO‰Bl/fÿ 10ƒ}Y0WŒcáclšKQ`;NINúW,gŸSt ÿZWcZQ„vúW,g~ ÿíp1rVyýV ÿïyg:NbýV>yO;NINú^¾‹ g¡RÿwQ gâVÓ~OS\O¾|^y ÿleN¾|^yÿåb gcknx„vNLu‰0ºNu‰0÷NyOž[õ ÿ ÿ îO 6f[R0 mQ0þ‹ z„v{|+RÊS¾‹n UxëXxvzuþ‹ zR:NÅ_îOþ‹N îOþ‹$N'Y{|0 1ÿÅ_îOþ‹/f:N¾0RùW{Qîvh‰Bl ÿÝOÁ‹xvzuùW{Q(Ï‘ €Å_{˜f[`N„vþ‹ z0Å_îOþ‹Rf[MOlQqQþ‹0f[MOúW@xþ‹ŒTf[MONNþ‹0f[MOúW@xþ‹N,‚ cN§~f[ÑyۏLˆ¾‹n ÿf[MONNþ‹N,‚ cŒN§~f[Ñy¾‹n0 Ï~f[!hybÆQú^¾‹„vhQñ‚í‹Yef[þ‹ z‰³~eQùW{Q¹eHh„vþ‹ zSOû|-N0‚Y,gNNùW{Q¹eHh-N g2è•ÊSåN NhQñ‚í‹Yef[Å_îOþ‹ z„v ÿøv”^NNxvzuïSMQîONNYí‹ ÿôv¥c·ƒ—_øv”^f[R0 ÿ1 ÿ`ó`?e»ltº‹ ÿ¡‹3f[Rÿ ÿ2 ÿ,{NYýVí‹ ÿ¡‹3f[R0 1uf[Ñy_¾‹„vNNÅ_îOþ‹Sìbÿ ÿ1 ÿNNYí‹ ÿ¡‹2f[R,f[b–€8h0 ͑(WùW{Qxvzu„vf[/gº‹‡eY틙Q\OŒTýVE–f[/g¤NAmý€›R0‚Yf[`N2è•ÊSåN NhQñ‚í‹NNÅ_îOþ‹ z(TNNùW{Q¡‹Rþ‹ zhˆ-N@bhèl„vhQñ‚í‹þ‹ z ÿ/fbb–hQñ‚í‹û|Rþ‹ zy˜îvú^¾‹-N„vhQñ‚í‹þ‹ z ÿFO/f&Tò]_ËYhQñ‚틈cþ‹ ÿ—Ï~f[b–¡[8hybÆQT ÿåNˆcþ‹í‹ŠhQñ‚í‹:NÆQ) ÿïSMQîONNYí‹ ÿv^Ç3u÷‹ïSôv¥c·ƒ—_øv”^f[Rÿ ÿ2 ÿf[MOúW@xþ‹2è• ÿ¡‹6f[RÿKm¦^N‚i‡s0ؚI{petß~¡‹_º‹0-Nؚ§~®_‰Ï~Nmf[0-Nؚ§~[‰Ï~Nmf[ ÿÛV ŒN ÿÿ ÿ3 ÿf[MONNþ‹2è• ÿ¡‹6f[Rÿ–:gǏ zÊSvQ”^(u0ё‡Ï~Nmf[0öeô•^RRg ÿ N ŒN ÿÿ ÿ4 ÿMR¿l²‹§^ ÿ¡‹2f[Rÿ MR¿l²‹§^èe(WOxvzuŸq‰`,gf[Ñy„v͑‰f[/gtº‹ŒTMR¿l'`bœg ÿÐcؚUxëXxvzuÂSNf[/g;m¨R„vtQ£ŒTf[/g¤NAmý€›R0Sìbxvzu„v*NºNxvzN˜˜ü~ð0ÂS RW„ Tf[€„vf[/g¥bJTI{0ïSǑ(u¨‹º‹ís0f[/gº‹[W0ÂS Rf[/gO®‹I{YÍyb__ ÿ…Q¹[SìbýV…QYxvz¨R`ËNÍ~0‡e.s²‹§^0°e€b/gN°ebœgËNÍ~I{0UxëXMR¿l²‹§^bé~€8hR:N$N*NèRÿUxëXu,TÖSN¶[;N²‹MR¿lû|R¥bJT N\ŽN15²‹ ÿ€8hºN1uü[^bÄ~Ç~èè•„v#ºN~{W[ÿUxëX(Wf[gô•ÂSN¨‹º‹;N²‹²‹?zb*NºNxvzN˜˜¥bJT2Ç{ ÿÏkÇ{¥bJT N\ŽN2000W[ ÿD–MR¿l¥bJT€8h{v°‹hˆ1uü[^Ä~bXTċš[bé~ ÿv^™QúQÄ‹í‹ ÿ€8hbé~ cO0o‚0-N0ÊSyOž[õ ÿ¡‹2f[Rÿ TNNïS9hncf[Ñyž[E– ÿ,g@wNNNf[`NøvÓ~T0N†N㉌T㉳Qíp¹pž[E–˜øvÓ~T„vŸSR ÿf[b–\Ðc›OUxëXxvzuYef[ž[õ0Ñyxž[õŒT>yOž[õ„v—\MO›Oxvzu ébŒT;•¼p ÿ_NïS0Rü[^T€û|}Y„v!hYž[`NúW0Wž[`N0ÂS R>yOž[õ N\ŽN64*Nf[öe0xvzu,gºN—kX™Q 0q\N'Yf[xvzuYef[ž[õ€8hhˆ 0b 0q\N'Yf[xvzu>yOž[õ€8hhˆ 0 ÿT—\MO#ºN‰ù[ž[õ€™QúQ€8hÄ‹í‹ ÿ€8hTyOž[õÿf[R0 2ÿ îOþ‹/f:NÓb½[xvzuåwƋb—0Œ[„UåwƋÓ~„gb RñmÐg¹eb—åwƋ €_¾‹„vþ‹ z0 îOþ‹R:NNN îOþ‹ŒT^—NN îOþ‹0^—NN îOþ‹SìbèN§~f[Ñy þ‹ŒTf[!h_¾‹„vlQqQ îOþ‹0Ÿ±Rèxvzuf[Ñy þ‹0 f[!h_¾‹„vxvzulQqQ îOþ‹Sìbÿ ÿ1 ÿUxëXxvzu,{ŒNYýVí‹ ÿÏkhT4f[öe ÿNf[g ÿ¡‹2f[Rÿ ÿ2 ÿSO²€þ‹ ÿ¡‹1f[Rÿ ÿ3 ÿÃ_tf[þ‹ z ÿ¡‹1f[Rÿ ÿ4 ÿ1uf[Ñy_¾‹„vNN îOþ‹ N\ŽN2è•ÿæ‹Á‰NNþ‹ z¾‹nhˆ ÿ0 3ÿþ‹ zf[R„v¡‹—{¹eÕlà ÿ1 ÿxvzuþ‹ zf[R„v¡‹—{ ÿ‰9hncþ‹ z„v¾–f z¦^ŒTxvzu@b—‰„vs^GWf[`Nöeô•Tt¡‹—{ ÿN,‚16-18f[öe:N1f[R ÿž[Œš{|þ‹ z24-32f[öe:N1f[R0 Ïkè•Å_îOþ‹ N…Ç3f[R ÿ îOþ‹ N…Ç2f[R0 N0-Ng[{  UxëXuž[Lˆ-Ng[{ 6R¦^0,{ Nf[g+gb,{ÛVf[gRۏLˆUxëXxvzu-Ng[{ 0UxëXxvzu”^(W-Ng€8hMRŒ[bùW{Q¹eHhĉš[þ‹ z„vf[`N ÿnxš[º‹‡e™Q\O¡‹R ÿÓ~Tf[MOº‹‡e_˜˜¥bJTù[UxëXuۏLˆ-Ng[{ 0[{ …Q¹[Sìbÿ 1.?e»l`ó`€8hÿ;N‰€8hf[us^öe„v?e»lf[`N,`ó`hˆ°s,S·_ÁT(ŒTÄ~Ç~ª~‹_'`0€8h\Ä~”^ÂSgqUxëXu„vÍdLˆÄ‹š[ ÿ?e»lþ‹f[`Nbé~ ÿ,TÖSü[^ŒT?e»l…ü[XTù[Ïk*Nf[u?e»l`ó`hˆ°sÅ`µQ„vËNÍ~ ÿZPúQž[‹NBl/f„vċ÷N0 2.N¡Rf[`N€8hÿåNf[Ñyü~T€Õ‹:N;N ÿv^Ó~TUxëXu„vþ‹ zf[`NŒ[bÅ`µQ0Ñyxý€›R0NNYí‹4ls^I{ۏLˆü~Tċš[0 (1) f[Ñyü~T€Õ‹ÿ€Õ‹ƒôV”^Sìbf[MOþ‹ zŒTNN îO;Nr^þ‹ z ÿ‰@w͑€8hUxëXuŒcác,gf[ÑyúW@xtº‹ŒTNè•åwƋ„v^¦^ŒTñm¦^åNÊSü~TЏ(u@bf[åwƋRg˜0㉳Q˜„vý€›R0€Õ‹b__ïSǑ(u{ՋbãSՋŒT{ՋøvÓ~T„v¹e_0ü~T€Õ‹Õ‹wSÿb°‹U_ ÿ1uTùW{QUSMOYuX[Yåg0 NNYí‹4ls^€8h ÿ1uTNN€8h\Ä~#‰[’c0 (2) Ñyxý€›R„v€8h”^Ó~Tº‹‡e_˜˜¥bJT0‡e.sü~ð¥bJTÿ N\ŽN2000W[ ÿ0º‹‡eۏU\Å`µQŒTÑyxbœgI{ۏLˆ0f[MOº‹‡e„v_˜˜¥bJT”^lQ_ۏLˆ0 -Ng[{ bé~ NTyÑyúWёy˜îv0ZSëX¹púWёy˜îv0w萧~åN N„v͑¹pÑyxy˜îv0͑¹pf[ÑyÑyxy˜îv0͑¹pž[Œš¤[ŒT͑¹pÑyxúW0Wxvzy˜îvI{øvÓ~T0 UxëXu”^ŽN,{ Nf[g+gb,{ÛVf[gR ÿ-Ng[{ öeÐc¤Nº‹‡e°d™Q¡‹R ÿv^TYex¤[bcü[\Ä~ZP_˜˜¥bJTŒT N\ŽN2000W[„v‡e.sü~ð¥bJT ÿÏ~ǏNNÄ~N¶[¨‹º‹¤‹:N ˜˜T ÿ¡‹RRž[ïSLˆ ÿ¹eý€ck__U\º‹‡e°d™Qå]\O0 20š[gÀhågf[MOº‹‡eۏU\Å`µQ ü[^š[gÀhågvQUxëXxvzuf[MOº‹‡eۏU\Å`µQ ÿ‰BlUxëXu(WNš[ƒôV…Q¥bJTº‹‡eۏU\Å`µQ ÿü[^ÊScü[\Ä~bXTÂS R ÿ.^©RUxëXuRgº‹‡eå]\OۏU\-N„v¾–¹p ÿÊSöeÙ~ˆNcü[ ÿÃOۏº‹‡exvzå]\O„vz˜)RۏU\0UxëXf[MOº‹‡e„v™Q\O‰Bl ÿ— cgq 0q\N'Yf[f[MOº‹‡eĉƒ(ՋLˆ) 0 gsQĉš[gbLˆ ÿŽN,{”Nf[gŒ[bf[MOº‹‡e„v™Q\O0 30¤‹wۏLˆf[MOº‹‡e„vhQb—¡[åg UxëXu”^(W3u÷‹f[MOº‹‡eT{©MR3-5*NgT,gNNŒTøvsQNN gsQYe^0ü[^0cü[\Ä~bXThQb—0W¥bJTf[MOº‹‡eۏU\Å`µQÊSÖS—_„vbœg ÿ^Ûl_BlaÁ‰ ÿۏNekîO9eŒTŒ[„Uf[MOº‹‡e ÿº‹‡eW[pe NNOŽN2NW[0Ðc!PUxëXf[MOº‹‡e„˜T{©0 40%Ny0 2.f²~ÿ 0-NýV„v'^.ö”LˆNё‡^:W 0 ÿ Nwm NT€fN—^0 3.±”\‰[ÿ 0-NýV'^?eV{„vb_bNÑSU\ 0 ÿ Nwm NT€fN—^ ÿ NwmºNlúQHr>y0 4.XoýVu–ÿ 0ýVE–Ñ‘‡tº‹NpeϑRg¹eÕl 0 ÿ Nwm NT€fN—^ ÿ NwmºNlúQHr>y0 5.öSN fÿ 0-NýV'^tº‹òS 0 ÿ-NýVё‡úQHr>y0 6ÿÿ R ÿpgy0 7ÿÿŽ ÿZSê0ŒT ؞˜ÿ 0ё‡f[ 0ÿ-Nы,g ÿ ÿ-NýVºNl'Yf[úQHr>y0 8ÿÿŽ ÿÃW·_)n" H" <\+Yÿ 0ё‡SOû|ÿŸStŒTÄ~Ç~ 0ÿ-Nы,g ÿ ÿ-NýVºNl'Yf[úQHr>y0 9ÿÿŽ ÿlšN" ‚KQÿ 0'^ŒTё‡ŒTё‡:g„gtº‹ 0ÿ-Nы,g ÿ ÿ Nwm NT€fN—^ ÿ NwmºNlúQHr>y0 10ÿÿŽ ÿs|ÀNёÿ 0'^ё‡f[ 0ÿ-Nы,g ÿ ÿ-NýVºNl'Yf[úQHr>y0 11ÿÿñ‚ ÿJ" L" Ilîhÿ 0'^tº‹Nž[õ 0ÿ-Nы,g ÿ ÿ-NýVё‡úQHr>y0 12.ÿñ‚ ÿïQi`¯eÿ 0'^º‹ 0ÿ-Nы,g ÿ ÿFU¡RpSfN†™0 13.ÿñ‚ ÿlšGk\ÿ 0'^.áO(uNFUN 0ÿ-Nы,g ÿ ÿFU¡RpSfN†™0 14. ÿŽ ÿD" B" y0 15.ÿŽ ÿ³RÃW·_B" Xblš¯eÿ 0'^.ö”LˆNё‡^:W 0ÿ-Nы,g ÿ ÿ:g°hå]NúQHr>y0 16.ÿŽ ÿåg\¯e" W" ¯eÆ[îhÿ 0¡{tё‡Î˜i–  Mˆu§NÁT0ё‡å] zŒT÷Ny0 17.ÿŽ ÿ÷–™„·_" W" b·_òSÆ[¯eÿ 0ё‡Ó~„gNё‡ÑSU\ 0ÿ-Nы,g ÿ ÿ Nwm NT€fN—^ ÿ NwmºNlúQHr>y0 18.ÿŽ ÿW³~·_" I" ¦žÑ‘œQÿ 0Ï~NmÑSU\-N„v'^ND,g 0ÿ-Nы,g ÿ ÿ Nwm NT€fN—^0 19.ÿŽ ÿ1r·_NS" –€ÿ 0Ï~NmÑSU\-N„vё‡ñmS 0ÿ-Nы,g ÿ ÿ Nwm NT€fN—^0 20.ÿŽ ÿ¦~ð" G" yOÑyf[‡e.súQHr>y021ÿJohn Y. Campbell, Andrew W. Lo, A0P\^tv”˜ž¢ÚÞ6 L N  ® º ¼ ¾ Ò Ö ê î þ     * F T Þ ô BX\`Èʦ´ ²ìÛʺ­Ÿ­Ÿ­Ÿ­Ÿ­Ÿ­Ÿ­ŸÊº­Ÿ­Ÿ­Ÿ˜­Ÿ­Ÿ­ÊŸÊŸÊŸÊŸ­ŸŸ­ŸÊŸŸhï:1hg4CJOJPJo(hï:1h?uCJPJ hï:1h–¶hï:1h–¶CJOJPJo(hï:1h–¶CJOJPJhï:1h–¶5CJOJPJ\!hï:1h–¶5CJOJPJ\o(!hï:1h–¶5CJ OJPJ\o(%hï:1h–¶5CJOJPJ\aJo(20P^ ® ¼ Ô ì   * F T Þ ô BX†¢l‚õõìáØìÏÏÏÏÏìáìáìáìáááÁ & F„àdhWDÈ`„à„¤dh^„¤„³dh`„³ „àdhWDÈ`„àdh¤d¤d $dh¤da$‚Èâx¦´zD²²àj´Â†¼ÐŠ ¨ Ì!ì!À"úïïïúïïïïïïæúÝÔÉÔÔÔ¾ÔÔ „°dhWD´`„° „adhWD“`„a„³dh`„³„àdh`„à„þdh`„þ „àdhWDÈ`„àdh²´À¼Ð& ( Š ¨ Ò `!d!Ê!Ì!ì!À"ì"$$Z$\$$’$8%d%f%æØÇ¹¨¹š¹¨Š¹Š¹Š¨¹¨¹¨¹}¹}¹k]hï:1h–¶>*CJOJQJ"hï:1h–¶5CJOJPJaJo(hï:1h–¶CJOJPJhï:1h–¶CJOJPJ\o(hï:1hg4CJOJPJo(!hï:1h–¶5CJOJPJ\o(hï:1h–¶CJOJPJo(!hï:1h–¶5CJOJPJ\o(h2§5CJOJPJ\o(2hï:1h–¶5CJOJPJ\fH o(qÊ ÿÿÿÿÀ"ì"$$8%:%f%n%@@ @ØA,CLKNKPKRKTKVKXKZK\K^K`KööêåÙÙÑÑÑÑåÆÆÆÆÆÆÆÆÆÆÆÆ „àdhWDÈ`„àdh4$8$ $dh8$[$\$a$dh & F„³dh`„³„³dh`„³f%l%n%p%”' 'º+þ+8°8´8”9˜9h:l:þ:;0<4<È<Ì<r=v=D>H>R?V?@ @ØAüAàÉ® Ž ywybybybybybybybybybyà y(hï:1h–¶CJaJfHo(qÊ ÿÿÿÿU)hï:1h–¶CJPJaJfHqÊ ÿÿÿÿ#hï:1h–¶CJOJPJQJ^Jo(hï:1h–¶CJOJPJo(4hï:1h–¶CJOJPJQJaJfHo(qÊ ÿÿÿÿ-hï:1h–¶5CJOJPJQJ\^JaJo(>hï:1h–¶5CJOJPJQJ\^JaJfHo(qÊ ÿÿÿÿ. Craig MacKinlay:  The Econometrics of Financial Markets , Princeton University Press0 22ÿEdwin J. Elton,Martin J. Gruber:  Modern Portfolio Theory and Investment Analysis ,Canada ,John and Sons,Inc.0 23ÿDonald E. Fisher, Ronald J. Jordan:  Security Analysis and Portfolio Management , Prentice-Hall, Inc.0 24ÿRobert W. Kolb:  Financial Derivatives , New York Institute of Finance0 25ÿMichael G. Hadjimichalakis, Karma G. Hadjimichalakis:  Contemporary Money, Banking, and Financial Markets theory and Practice ,Richard D. Irwin,Inc.0 26ÿFoster Roden:  Foundations of Business Finance ,Dame Publications, Inc.0 27ÿGeorge E.Pinches:  Essentials of Financial Management ,Harper Collins Publishers0 28ÿGeorge G. Kaufman:  The U.S. Financial Systems Money, Markets And Institutions , Prentice-Hall, Inc.0 29ÿJohn F. Marshall, Vipul K. Bansal:  Financial Engineering A Complete Guide to Financial Innovation , New York Institute of Finance0 30ÿCharles R. Geisst:  Investment Banking in the Financial System , Prentice-Hall, Inc. g Rÿ -NýV>yOÑyf[0Ï~Nmxvz0Ï~Nmf[¨R`0-NýVå]NÏ~Nm0ё‡xvz0ß~¡‹xvz0NLuÏ~Nm0peϑÏ~Nm€b/gÏ~Nmxvz0ýVE–Ñ‘‡xvz09ei—0"8Ï~Nm0Ï~NmÑyf[0"?exvz0O¡‹xvz0Ï~Nmċº‹0-NýVœQQgÏ~Nm0¡{tNLu0Ï~Nmf[¶[0"Ï~Ñyf[0Ï~Nmtº‹NÏ~Nm¡{t0NLuÏ~NmN?e»l0Ï~Nmf[c[ R0S_ãN"Ï~0ё‡º‹[W0"Ï~xvz0ꁨRSf[¥bÿ-NÑyb–ꁨRS@b ÿ0û|ß~Ñyf[Npef[ÿ-NÑyb–û|ß~@b ÿ0”^(upef[f[¥b0pef[irtf[¥b0Џy{f[f[¥b0pef[f[¥b0pef[t^ R0”^(u‚i‡sß~¡‹0oöNf[¥b0¡‹—{pef[0 Journal of Finance; Journal of Financial Economics; The Review of Financial Studies; Journal of Political Economy; Journal Money Economics; Review of Economic Studies; American Economic Review; Journal of Comparative Economics; Journal of Banking and Finance; Journal of Corporate Finance; Economatrica ;Journal of Econometrics;Applied Economics ;Economic Development and Culture Change; Law and Economics;Review of Radical Political Economics; Statistics&Probability Letters; Stochastic Analysis and Applications; Stochastic Processes and Their Applications; Systems& Control Letters; Theoretical Computer Science; Annals of Probability; Annals of Statistics; Applied Mathematics and Computation; Bernoulli; Communications in Statistics- Theory and Methods; Comptes Rendus Mathematique; European Journal of Operational Research; IET Control Theory and Applications; Journal of Computational and Applied Mathematics; Journal of Multivariate Analysis; Metrika; Numerical Methods for Partial Differential Equations; Probability Theory and Related Fields; Siam Journal on Control and Optimization; Siam Journal on Numerical Analysis; Statistics& Probability Letters; Stochastic Processes and Their Appications. HYPERLINK "javascript:void(0);"D–ÿ,gùW{Q¡‹R„vþ‹ z¾‹n ё‡f[NNUxëXxvzuùW{Q¹eHh{|+R^÷Sþ‹ z÷Sþ‹ z T_þ‹f[g;`f[öef[RûNþ‹Ye^€8h¹e_Å_îOþ‹1MP1209002 HYPERLINK "" `ó`?e»ltº‹ÿtå];S ÿËy5430€Õ‹2MP0891001 HYPERLINK "" ,{NYýVí‹ÿñ‚ ÿËy10830€Õ‹3C12020001 HYPERLINK "" NNYí‹Ëy322TNN€åg4M12020005 HYPERLINK "" MR¿l²‹§^%fËy152f[/gº‹[W0f[/g²‹§^„vW„ Tf[€0Y÷‹²‹§^Yeˆc0,gb–ZSü[€ågf[MOúW@xþ‹ÛV ŒN5M12020002HYPERLINK "javascript:void(0);"-Nؚ§~ё‡„vÏ~Nmf[ŸStI%fËy543G]\—g «[Sf3t ‹[Vf€Õ‹6M12020003HYPERLINK "javascript:void(0);"-Nؚ§~ё‡„vÏ~Nmf[ŸStII%fËy543H–žXle þf°*‚ «[Sf3t €Õ‹7C12020006 HYPERLINK "" ؚI{petß~¡‹_º‹Ëy543>h;O —gï O›R €Õ‹8C12020005Km¦^N‚i‡sËy543H–žXle 4Tû ów‰sð\€Õ‹ f[MONNþ‹ N ŒN19M12020001 HYPERLINK "javascript:void(0);" ё‡Ï~Nmf[¹eÕl%fËy543G]\—g «[Sf3t €Õ‹10P08019029HYPERLINK "javascript:void(0);"öeô•^RRg%f543>h;O€Õ‹11 C12020007  HYPERLINK "" –:gǏ zÊSvQ”^(uËy5434Tû ów‰sð\ G]\—g€Õ‹ 12M12020006 HYPERLINK "" >yOž[õ%fËy6420€åg îOþ‹1C12020010ϑSё‡f[%fËy362—gï «[Sf3t €Õ‹2C12020009ё‡Î˜i–š[ϑRg%fËy362ów‰sð\ O›R ‹[Vf€Õ‹3M08019056 HYPERLINK "" MˆuÁ‹8Rtº‹%fËy362G]\—g >^©\ 4Tû€Õ‹4M08019065 HYPERLINK "" petÏ~Nmf[%fËy362]‰sÉl ÿá€ÑS܀ ÿ‹sQROe ÿbSf—€Õ‹5C12020003 HYPERLINK "" ^—ÂSpeNJSÂSpeß~¡‹%fËy362—gï O›R >h;O€Õ‹6C12019008YCQß~¡‹¹eÕl%fËy362—gï O›R >h;O ûNÕqÕq€Õ‹7D12020001ؚ§~ё‡„vÏ~Nmf[ŸStI%fËy362G]\—g «[Sf3t ‹[Vf€Õ‹8 D08019020¨R`ё‡Î˜i–¦^ϑ%fËy362H–žXle ów‰sð\€Õ‹9C12020002ؚ§~ё‡„vÏ~Nmf[ŸStII%fËy362H–žXle þf°*‚ «[Sf3t€Õ‹10 C08019006ё‡pef[%fËy362—gï H–žXle€Õ‹11CP0891021 HYPERLINK "" ,{ŒNYýVí‹ÿñ‚ ÿ%f7220€Õ‹12CP0891022 HYPERLINK "" ,{ŒNYýVí‹ÿåe ÿ%f7220€Õ‹13CP0891023 HYPERLINK "" ,{ŒNYýVí‹ÿÕl ÿ%f7220€Õ‹14CP0891024 HYPERLINK "" ,{ŒNYýVí‹ÿ·_ ÿ%f7220€Õ‹15CP0891025 HYPERLINK "" ,{ŒNYýVí‹ÿÄO ÿ%f7220€Õ‹16MP0849001 HYPERLINK "" 'Ytü~Tÿî{0³0’c ÿËy3610€Õ‹17MP0849002 HYPERLINK "" \tü~TÿQ0RN0½ ÿËy3610€Õ‹18MP0849003 HYPERLINK "" fk/gceSbü~TËy3610€Õ‹19MP0849004 HYPERLINK "" b_SOü~TËy3610€Õ‹20CP0891001 HYPERLINK "" ؚ§~ñ‚í‹Ëy3610€Õ‹21DP1209002lšKQ`;NINÏ~xQW„\O û‹Ëy362€Õ‹     PAGE  PAGE 9 üAþA $$1$Ifa$gd8là $$1$Ifa$gd8làFf 9 $$1$Ifa$BRDR`RbRjRlRŠRR’R–R¨R´R¼RÒRàRäRöRøRSSSS S$S(S*S.S:S>SPSRSTSpSrS~S€S‚SˆS’S¦S°Sé×Â×鱟ŽŸ|ŸŽŸŽŸ|ŽŸŽŸŽŸŽŸŽŸŽŸŽŸgŽgŸgŸŽŸŽŸ)jhï:1h–¶CJOJQJU^JaJ#hï:1h@C÷CJOJQJ^JaJo( hï:1h–¶CJOJQJ^JaJ#hï:1h–¶CJOJQJ^JaJo( hï:1h8làCJOJQJ^JaJ)jhï:1h8làCJOJQJU^JaJ#hï:1h8làCJOJQJ^JaJo(,jhï:1h8làCJOJQJU^JaJo((¼RÂRÆRÖRÜRÞRàRäRøR SSSS0S6S8S:S>SRS‚SˆSŽS’S¨S®S°SôôôôïôôçôôôôôôâôôçôôôôôôÝFf>LFf¡G$1$IfFfC $$1$Ifa$°S²S¶SÊSøSþSTT(T.T0T2T6TJT€T†TŒTT¤TªT¬T®T²TÆTÔTÚTàTôôìôôôôôôçôôìôôôôôôâôôìôôôFfxUFfÛP$1$If $$1$Ifa$°S²S¶SÊSÌSèSêSôSöSþSTTT2T6THTJTLThTjTrTxT|T~T†TŠTŒTT¢T®T²TÆTÒTÚTÞTàTäTêTîTþT UU U&U8U:U>U@U^U`UdUïÝïÈïÈÝÈïÝïÝïݶÝÈïÈÝïÝÈïÝïÝ¥ïÝï“ïÝïݓ¥“ïݶ݁“ÝïݓÝ#hï:1h@C÷CJOJQJ^JaJo(#hï:1h–¶CJOJQJ^JaJo( hï:1h–¶CJOJQJ^JaJ#hï:1h@C÷CJOJQJ^JaJo()jhï:1h–¶CJOJQJU^JaJ#hï:1h–¶CJOJQJ^JaJo( hï:1h–¶CJOJQJ^JaJ2àTäTUUU UU"U:U@UFUJU`UfUhUjUnU†U˜UžU¤U¨U¸U¾UÀUôôôïôôçôôôôôôâôÔçôôôôôôÏFfOc „Z$1$IfWD2`„ZFf²^$1$IfFfZ $$1$Ifa$dUlUrU†U–UžU¢U¤U®U°U¶UÂUÄUÆUØUÚUòUøUúU V&VBVDVLVTVXVZVbVdVjVV’V®V°VÀVÂVàVæVúVüVWW*W,WJWPWdWfW‚W„W”W–W´WºWÎWÐWìWîWþWXX$X8X:XVXïÝïÝïÝïÝïÝïÝïËݹÝïÝïÝïÝïÝïÝïÝï¤ï¤Ý¤ïÝï¤ï¤Ý¤ïÝï¤ï¤Ý¤ïÝï¤ï¤Ý¤ïÝï¤ï)jhï:1h–¶CJOJQJU^JaJ#hï:1h@C÷CJOJQJ^JaJo(#hï:1h@C÷CJOJQJ^JaJo(#hï:1h–¶CJOJQJ^JaJo( hï:1h–¶CJOJQJ^JaJ@ÀUÂUÆUÚUôUúUVVV"V$V&V,VDVNVTVZV^VlVrVtVvV|VVÄVôæÞôôôôôôÙôôÞôôôôôôÔôÞôôFf‰lFfìg$1$If „Z$1$IfWD2`„Z $$1$Ifa$ÄVÈVÎVÒVÖVÜVÞVàVæVúV.W2W8W*B* CJS*€]€`J aJph_½2þ/òÿ2 u˜ w Char CJ_H aJ*"* ybèl‡eW[a$$FB2F ck‡e‡e,gdð¤dXD¤dYD CJOJPJ< @B< u˜dða$$ Æ9r CJTRT u˜ w-dða$$G$&dPÆÿ Æ9r CJaJ^þb^ font7.dð¤dXD[$¤dYD\$a$$9D1$H$ CJaJ_HDRrD ck‡e‡e,g)ۏ 2„â^„â„â`„âCJOJ8C‚8 ck‡e‡e,g)ۏ „â^„âCJOJjþ’j xl25.dð¤dXD[$¤dYD\$a$$9D1$H$CJ OJQJaJ 5\_H¨þ¢¨ xl24rdð¤dXD[$¤dYD\$a$$9D1$H$$dNÆÿ%dOÆÿ&dPÆÿ'dQÆÿCJOJQJaJ_HBS²B ck‡e‡e,g)ۏ 3dð„â^„â„â`„â¨þ¨ xl26rdð¤dXD[$¤dYD\$a$$9D1$H$$dNÆÿ%dOÆÿ&dPÆÿ'dQÆÿCJOJQJaJ_HjþÒj font6.dð¤dXD[$¤dYD\$a$$9D1$H$CJOJQJo(aJ_Hl]l z-—zSO•^ïz)dða$$9D1$H$$dNÆÿCJOJQJ^JaJ<_H¤þò¤ xl27rdð¤dXD[$¤dYD\$a$$9D1$H$$dNÆÿ%dOÆÿ&dPÆÿ'dQÆÿCJOJQJ_Hl\l z-—zSOv˜ïz) dða$$9D1$H$&dPÆÿCJOJQJ^JaJ<_H&þ& hÆQ!a$$¨þ"¨ xl29r"dð¤dXD[$¤dYD\$a$$9D1$H$$dNÆÿ%dOÆÿ&dPÆÿ'dQÆÿCJOJQJaJ_H¨þ2¨ xl28r#dð¤dXD[$¤dYD\$a$$9D1$H$$dNÆÿ%dOÆÿ&dPÆÿ'dQÆÿCJOJQJaJ_HjþBj font5.$dð¤dXD[$¤dYD\$a$$9D1$H$CJOJQJo(aJ_HPK!éÞ¿ÿ[Content_Types].xml¬‘ËNÃ0E÷Hüƒå-Jœ²@%é‚ÇŽÇ¢|Àș$ÉØ²§Uû÷LÒTB¨ l,Ù3÷ž;ãr½µÃ˜œ§J¯òB+$ëG]¥ß7OÙ­V‰¾-\‡".àBÃ-¨?7¿}>¶æFTl°Õìºêon77”ÔœÉx?›Ôó|¯ÒÌü+ë¸NµSéT2 €XiÊE÷é·ê­¶?Çj ôÐâ»]m—‹^ó_^ãÜôåÏÀ+Pêß[Ãw»DÑÀ+PŠ÷×ðžW-žW _YÃW ͶW5ð R¬¡ ~¥,V›AFŒîXáußëVKsçKTCV]rЋŦZ‹Ð-–t  ;b6Á#4€2%û qvÉ8„› ˜q.” ÝBþ˟§ŽTDÐFšµäLøÚäãðAB&¢á~ ^] òúُ¯Ÿ=qŽï==¾÷ËñýûÇ÷~NV;(ëV¯¾ÿâïGŸ:=ùöՃ¯ìx®ãÿøé³ç¿iÂJ—!xñõã?Ÿ>~ñðó—?<°À› Ú×á}aî\ÆGÎ5ÁÂTLæx?y;‹~ˆˆnьÇÅHÎbñß¡¾wc:²Í‚E¶GâPÇ~Ä D‘s• |™wˆ<‡< xcºol¤ûd5¸ʪSZˆ¼2M,¹¼ˆ™Q¿½!¬¤„ßÐóˆÄ'ŠûЬûÿ­¬ƒ¾øæ‘eUgUЛ ±ÞQ;+2¾ ·*ÞK†äìkwMã«n—õö^ºßK·û¿—îM÷ó»ì¥Fƒ|Ë­bºUW÷hã¾}D(í‰Å»\mÝ9t¦a¥zhÅÙsÜ$„Cy'Ãnœ eã$L|BDØ Ñö÷EW:ó¹ë1w&ŒÃ¶_ [}K<F{l˜>®‹òÑ4ŽÄr¼àgãð¨!Rt¥º|ËÜ+¶cõ¨¼ m߆„6™I¢l!Q] Ê ©sš…„ZÙ;aQ·°¨I÷‹T­±jYV`ëäÀ†«áú˜€<$6D=µ'Ien‘Ûb~kÀ‘3MHýSð›^Pòƒ\¡æwr^Ù+äj~³œkú~¹Øñ‹…v«t‹£¢Ÿ~té«(:›zQãkŸ_¢ÅÛ¶så™ú¼’WÄÕç—bÉöù¥/?¯¸ѹS)uëåz«’«—›Ýœ×nÕrõ Òʵ+AµÝm~­Þ½ë:‡ ì5ˁWéÔr•bä¼JAÒ¯ÕsU¯TjzÕf­ã5ïη1°òT>汀ð*^ÛÿÿÿPK! ѐŸ¶'theme/theme/_rels/themeManager.xml.rels„M Â0„÷‚wooÓº‘&݈ЭÔ„ä5 6?$Qìí ®,.‡a¾™i»—Éc2Þ1hª:é•qšÁm¸ìŽ@RN‰Ù;d°`‚Žo7íg‘K(M&$R(.1˜r'J“œÐŠTù€®8£Vä"£¦AÈ»ÐH÷u} ñ›|Å$½b{Õ–Pšÿ³ý8‰g/]þQAsم(¢ÆÌà#›ªLÊ[ººÄßÿÿPK-!éÞ¿ÿ[Content_Types].xmlPK-!¥Ö§çÀ6 0_rels/.relsPK-!ky–ƒŠtheme/theme/themeManager.xmlPK-!.­ÑŒÖtheme/theme/theme1.xmlPK-! ѐŸ¶'Û theme/theme/_rels/themeManager.xml.relsPK]Ö •#”ÿÿÿÿ %%%(²f%üAtKMÖNøO QBR°SdUVX [,[.0368:<?AEI‚À"`KðKFL&M.N„OlPöQ¼R°SàTÀUÄV²WêXÔYÚZ,[/124579;=>@BCDFGH¸Øå.=Ifu~œ«°ÏÞã"BOv–£ÍÜã?ag¯¶àïô /4¨·¾äóù$ 3 = G!V!_!|!‹!”!±!À!É!æ!õ!þ!"*"3"P"_"k"ˆ"—"£"À"Ï"Ö"ó"##$#3#8#•#X”ÿ•„X”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒXÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•ŒX”ÿ•Œ !(!”ÿ•€!”ÿ•€ð^ðS ð€œ¾àƒ»ÕðÀsœÃË>@ñÿÿÿ€€€÷ð’ðð0ð( ð ððB ðS ð¿Ëÿ ?ð(./‰ŠŽ¡§—¿ÅÖ×Ýßéëõ÷ÿ !"+.hklq¢£©ªîïùú  !+,@F¢ÉÊñù +39:<=BC`anoº»ÓÛàáäå >FLMPQûý()26pqސŸ µ¶¼½ÀÅ0¬äéù#(),4;<?GUVceptž£¦§¯´·¸»¼ÄÅÎÏÒÓÙÚ< ? S T X Y ¡ ¤ Ø Ý X Y o t  “ ´ µ Ù Ú à á B C ] _ g h à á ÿ  D F S T Ê Ë Í Î å ç õ ö   O P _ a u v Ü ß  -.›²³¶ºÐÓÜÝíð8;QS^_vx€™›£¤ÄÆô÷ ;@W\efx~€‚ƒ¡¦«¬´µËÐÖ× +,;@FGfkŒ‘–—𛏼ÛÝÞUVYZco£³¾ÆÇÈËÌ1256|}€Œ›¦µö !&ANabefmv‘£¶·º» #$6;¦§ª«¶¼ ê(<y‰ªÀäëìòóÿ¤«˜£Ùåèöøúûýþ   >IKLTVv~€ŠŒ¬°²³¹¼½¿ßãåçí  CFQSY\]`acdf—𦍮±²µ¶¹»½Ýãçèîñòôõ÷ùû  "#%)1bgkmsvwz|~°¶¸¹¿ÂÃÅðôõùúû  04@BDGTYZ\bdehjl{ƒ„†Œ‘“”–—™¸¾ÀÂÈËÌÏÐÒÓÕôùûý    4 8 ? A G I J L M P Q S b h i k q s t v w z { ~    ’ œ ž ¤ § ¨ « ¬ ® ¯ ± Â Ê Ë Í Ó Ö × Ú Û Ý ì î ù û !!!! ! ! !!!!%!&!(!.!0!1!4!5!7!W!_!a!b!j!l!Œ!”!–!—!Ÿ!¡!Á!É!Ë!Ì!Ô!Ö!ö!þ!"" " "+"3"5"6">"@"`"k"m"n"v"x"˜"£"¥"¦"®"°"Ð"Ö"Ø"Ù"á"ã"## # ###4#8#:#;#C#E#U#`#a#b#i#k#n#p#q#s#t#v#w#y#z#“#–#ƒ  æìÚ á æ ì Ž ‘ º¿<=[^ÌÐBC†‡¨©hoÿùüGHYZac®±²µst ”–ÈÉÑÒ  } ~ ¤ ¥ ¬ ® Ó Ö !!!!1!4!Ÿ" "n#p#q#s#t#v#w#y#z#“#–#333333s33sss333s3s3333ssss3sssss33333s¶Å%4Ú á  ø.Kí"Qv¦  q   œ ì ù P"m"ˆ"¥"U#a#m#n#p#q#s#t#v#w#y#z#“#–#  à à   ¸æ69;DDâ ë m#n#n#p#q#q#s#t#v#w#y#z#“#–#n‘Sn‘SÿÜz‘SÜz‘Sÿÿ ÿ0n‘SÜz‘Sÿÿÿÿÿÿÿÿÿÿÿÿ å €M+ï:1g4?@ABCDEFGHIJþÿÿÿLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~€‚ƒ„…†‡ˆ‰Š‹ŒŽ‘’“”•–—˜™š›œþÿÿÿžŸ ¡¢£¤¥¦§¨©ª«¬­®¯°±²³´µ¶·¸¹º»þÿÿÿ½¾¿ÀÁÂÃþÿÿÿÅÆÇÈÉÊËþÿÿÿýÿÿÿýÿÿÿÏþÿÿÿþÿÿÿþÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿRoot Entryÿÿÿÿÿÿÿÿ ÀFpç1 ¼‘ÏрData ÿÿÿÿÿÿÿÿÿÿÿÿK/¢1Tableÿÿÿÿ'=WordDocumentÿÿÿÿ.”SummaryInformation(ÿÿÿÿÿÿÿÿÿÿÿÿ¼DocumentSummaryInformation8ÿÿÿÿÿÿÿÿÄCompObjÿÿÿÿÿÿÿÿÿÿÿÿnÿÿÿÿÿÿÿÿÿÿÿÿþÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿþÿ ÿÿÿÿ ÀFMicrosoft Word 97-2003 Îĵµ MSWordDocWord.Document.8ô9²q