可再生能源配额制与碳排放权交易并行实施的政策效果

中国将同时实施可再生能源配额制与碳排放权交易,并以售电商为配额制的考核主体。本文建立两级供应链模型分析两者相互作用的政策效果。研究结果表明,引入碳排放权交易将导致火电价格上涨与可再生能源电力价格下降,有利于实现两者在同一价格水平竞争。然而,碳排放权交易亦将造成零售电价上涨,电力需求减少,且变化幅度与碳排放权价格和减排成本成正比。若配额比例与售电商差异性提高,在不影响环境成本内化于火电批发价格的同时,可降低售电商的转嫁成本。从而减小了可再生能源电力价格降幅与零售电价涨幅,并平抑碳排放权价格与减排成本上涨造成的电价与需求波动。     

债券投资组合业绩归因的多期实证研究

目前国内对投资组合的业绩归因研究主要从管理者层面着手,将超额收益的来源归结为择时能力和选股能力,但这并不适用于债券投资。本文基于Campisi模型,对债券定价公式进行分解,从债券自身的特性来研究组合的超额收益来源,并结合GRAP跨期处理方法,形成多期业绩归因模型,对长期债券投资组合进行归因分析。相对于单期的归因模型,多期归因模型可以对任意一段时间内投资组合的超额收益进行归因,而不是单期归因项的简单加总。本文以中证全债指数为基准组合,对32只债券构成的投资组合进行实证研究,结果表明模型符合市场情况和实际操作情况。因此本文提出的多期业绩归因研究具有实用性。     

Efficiency of composite vs. conically shaped chromatographic columns

The theory of composite chromatographic columns has been re-examined and general equations relating their efficiency to those of individual columns were derived. The derivations were based on elementary principles without reference to the principle of variance additivity. Derived also, were general equations for the efficiency of columns with continuously varying diameters, HETP and other properties from which formulae for special cases of practical interest were deduced. An example comparing the efficiencies of two columns, one conical and the other composite was given. The calculations show clearly that the conical column is superior in efficiency for the same total length and total retention volume.     

双核金属酞菁类化合物催化脱硫机理研究Ⅳ──中心金属离子对MPc－PcM催化活性的影响

实验研究结果表明双核金属酞菁类化合物ＭＰｃ－ＰｃＭ（Ｍ＝Ｖ、Ｃｒ、Ｍｎ、Ｆｅ、Ｃｏ、Ｎｉ、Ｃｕ）是催化Ｈ＿２Ｓ液相氧化反应的良好催化剂，且其催化活性顺序为Ｃｏ＞Ｎｉ＞Ｖ＞Ｆｅ＞Ｃｕ＞Ｃｒ＞Ｍｎ．采用量子化学理论计算方法（ＩＮＤＯ／Ｓ）分析了其前线分子轨道的构成特征，结果表明这几种ＭＰｃ－ＰｃＭ的ＬＵＭＯ轨道皆为有金属离子参与形成的π轨道，但ＨＯＭＯ轨道间的差异却很大．Ｍ＝Ｃｏ、Ｎｉ、Ｃｕ、Ｃｒ时，其ＨＯＭＯ为π轨道；而Ｍ＝Ｆｅ、Ｍｎ时，其ＨＯＭＯ却为σ轨道．正是在前线分子轨道的轨道类型、共轭程度及金属轨道贡献三方面因素的协同作用下，才导致ＭＰｃ－ＰｃＭ的催化活性顺序并非按中心金属离子价电子层ｄ电子数的递变而呈现出规律性的变化．     

A Robust and Efficient Method for the Computation of Equilibrium Composition in Gaseous Mixtures

This paper presents in detail a robust, efficient and accurate methodology for the computation of equilibrium composition in gaseous mixtures. The methodology is founded on the concept of the chemical basis, which is defined and formalized using a powerful matricial approach. The method is specially designed to be general, thus providing basic thermodynamic data in several areas, such as combustion, plasma chemistry and, more generally speaking, computational fluid dynamics. The performance of the method is given in terms of CPU usage and the computed results are compared with those in the published literature. The method is shown to yield results of very high quality in terms of accuracy and smoothness.     

Co3+-Rich Na1.95CoP2O7 Phosphates as Efficient Bifunctional Catalysts for Oxygen Evolution and Reduction Reactions in Alkaline Solution

Implementing sustainable energy conversion and storage technologies is highly reliant on crucial oxygen electrocatalysis, such as the oxygen evolution reaction (OER) and oxygen reduction reaction (ORR). However, the pursuit of low cost, energetic efficient and robust bifunctional catalysts for OER and ORR remains a great challenge. Herein, the novel Na-ion-deficient Na_2−xCoP₂O₇ catalysts are proposed to efficiently electrocatalyze OER and ORR in alkaline solution. The engineering of Na-ion deficiency can tune the electronic structure of Co, and thus tailor the intrinsically electrocatalytic performance. Among the sodium cobalt phosphate catalysts, the Na_1.95CoP₂O₇ (NCPO5) catalyst exhibits the lowest ΔE (E_J10,OER−E_J−1,ORR) of only 0.86 V, which favorably outperforms most of the reported non-noble metal catalysts. Moreover, the Na-ion deficiency can stabilize the phase structure and morphology of NCPO5 during the OER and ORR processes. This study highlights the Na-ion deficient Na_2−xCoP₂O₇ as a promising class of low-cost, highly active and robust bifunctional catalysts for OER and ORR.     

有效因子综合偏好强度与CVaR整合优化模型

本文从股票多维特征因子中选择有效因子,融合形成最大化有效因子综合偏好强度(IPS)的附加理性,构建并验证IPS-均值-CVaR投资组合优化模型。基于沪深300股2006~2015年数据分析显示:(1)有效因子IPS投资组合优越于单因子投资组合;(2)IPS方法相较于因子打分法,具有更优的多维数据整合功效;(3)IPS-均值-CVaR投资组合优化模型相对于均值-CVaR模型具有更优越的资产选择能力,也拓展了投资组合模型的多维数据处理能力和适用性。     

企业自主研发与合作创新的风险测度及组合优化

企业在整合内部创新要素进行自主研发的同时,也会寻求外部创新资源进行合作创新,当前同时从事多个R&D项目已成为常见的企业经营活动,如何在不确定条件下分析多个R&D项目投资的策略选择及风险优化,对于企业的长期发展具有重要意义。根据企业是否采取合作创新策略,可将其R&D项目分为自主研发与合作创新两类,以项目的研发成功率和投资收益率代表技术风险和市场风险,分别测度自主研发与合作创新项目的风险特性,并在此基础上构建企业R&D项目投资组合优化模型,以在自主研发与合作创新项目之间进行权衡取舍。结果表明,企业对于自主研发与合作创新项目投资组合的最优投资权重,主要取决于这两类组合的期望收益率、收益率方差、期望成功率以及两组合之间的协方差。企业可基于关键参数制定出最优的R&D项目投资组合选择策略,合理分配资金以达到风险最小化的投资目标。     

Instructions for Authors

Chinese Physics B （Chin. Phys. B）, formerly titled Chinese Physics, is an international comprehensive academic journal, aiming to publish original papers and rapid communications reflecting creative and innovative achievements in physics, as well as review papers about important accomplishments in frontier of physics. The journal is published monthly in English by the Chinese Physical Society （CPS） and the IOP Publishing. Chin. Phys. B has already been included in six world famous international index systems including SCI and INSPEC.