In this paper we study the combined optimal dividend, capital injection and reinsurance problems in a dynamic setting. The reinsurance premium is assumed to be calculated via the variance principle instead of the expected value principle. The proportional and fixed transaction costs and the...

In this paper we consider the dividend payments and capital injections control problem in a dual risk model. Such a model might be appropriate for a company that specializes in inventions and discoveries, which pays costs continuously and has occasional profits. The objective is to maximize the...

Generalized continuous time random walks with independent, heavy-tailed random waiting times and long range dependent jumps are considered. Their scaling limits are determined in terms of the Hermite processes and inverse of stable subordinators. These limiting processes provide an interesting...

The electrolytic aluminium industry is a typical energy-intensive industry, and one of the six largest energy-consuming industries in China. The energy consumption of China’s electrolytic aluminium industry (CEAI) in 2011 accounted for 0.91% of China’s total energy consumption and 22.7% of...

Testing the proportionality of two large-dimensional covariance matrices is studied. Based on modern random matrix theory, a pseudo-likelihood ratio statistic is proposed and its asymptotic normality is proved as the dimension and sample sizes tend to infinity proportionally.

Let X1,…,Xn1+1∼iidNp(μ1,Σ1) and Y1,…,Yn2+1∼iidNp(μ2,Σ2) be two independent random samples, where pn2. In this article, we propose a new test for the proportionality of two large p×p covariance matrices Σ1 and Σ2. By applying modern random matrix theory, we establish the asymptotic...

We use the theory of large deviations to investigate the large time behavior and the small noise asymptotics of random economic processes whose evolutions are governed by mean-reverting stochastic differential equations with (i) constant and (ii) state dependent noise terms. We explicitly show...

The effects of substrate-placing manner, deposition temperature and solution concentration on the preparation of ZnO films by chemical bath deposition were investigated in this work. The structures and the morphologies of as-deposited ZnO films were characterized by X-ray diffraction and...

This paper projects Chinese urban residential construction out to 2040. The paper argues that the extraordinary growth of recent years will not continue, but that construction will stabilise at a high level. This augurs well for steel demand, especially as steel intensity is expected to...