Was there a Portfolio Effect of the Micro-economic Leverage ？ Some Empirical Evidence from the Chinese Stock Market

The study is on a linear model of the relationship between the systematic risk and the micro-economic leverage and analyzed the data from the steel, energy source and chemical fibre industry listed companies in the Chinese stock market in 2002 and 2001. Using the linear regression method, empirical equations were found. The portfolio effect was shown so that some empirical evidence had been found to support the micro-economic leverage portfolio effect theory, which was that the listed companies balanced the operating and financial leverage to minimize the systematic risk.

Accelerated plasma degradation of organic pollutants in milliseconds and examinations by mass spectrometry

The rapid degradation of organic pollutants,process monitoring and online controlling to obtain advanced products and decreased by-products are great and challenging tasks in environmental treatments.Herein,an accelerated plasma degradation in milliseconds was achieved by combining electrospray-based acceleration and plasma-based degradation.Taking the degradation of chloroaniline as an example,97%of the degradation can be achieved in milliseconds.The velocity distribution of droplets was determined to be 40-50 m/s after being degraded for 0.30 ms,which exhibited different degradation behaviors in different milliseconds.Simultaneously,by virtue of the real-time and on-line detection ability of ambient mass spectrometry,intermediates,by-products and advanced products were monitored.Therefore,degradation mechanisms for different degradation times were proposed,which would provide theoretical guidance on obtaining efficient and green degradation.The fabrication,examining and understanding of accelerated plasma degradation not only enlarged application of accelerated reactions,but also promoted green and efficient degradation for environmental treatments.