As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their seri...As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their serious privacy.Based on the SDN(Software Defined Network)technology,this paper proposes a novel event-based anomaly detection approach to identify misbehaviors using non-public industrial communication protocols,and this approach can be installed in SDN switches as a security software appliance in SDN-based control systems.Furthermore,aiming at the unknown protocol specification and message format,this approach first restructures the industrial communication sessions and merges the payloads from industrial communication packets.After that,the feature selection and event sequence extraction can be carried out by using the N-gram model and K-means algorithm.Based on the obtained event sequences,this approach finally trains an event-based HMM(Hidden Markov Model)to identify aberrant industrial communication behaviors.Experimental results clearly show that the proposed approach has obvious advantages of classification accuracy and detection efficiency.展开更多
SHORTLY after Spring Festival in mid-February, as China prepared for its WTO entry, arbitration took place between a non-public owned enterprise in Zhangjiagang, Jiangsu Province, and an American company,
THE non-public economy has played an important role in China’s economic reforms over the past two decades, bringing about great changes to the economy and soci-
IN order to keep to promisesmade during negotiations to jointhe WTO, as from April 1,2002, the Chinese governmentbegan implementing the revised"Catalogue of Industries for ForeignInvestment" and its appendix.
Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic perfo...Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic performance.However,further testing is required to assess whether enterprises contribute to the improvement of distribution by participating in TPA.Taking A-share-listed private enterprises between 2016 and 2021 as research samples,we conducted an investigation into the extent and manner in which the mixed-ownership reform contributes to TPA.Our research reveals that a higher proportion of state capital equity participation is correlated with a greater level of private enterprises’contribution to TPA.This indicates that the mixed-ownership reform is beneficial for prompting private enterprises to shoulder responsibilities for building a society of common prosperity.As shown by the mechanism test,state capital equity participation encourages private enterprises to contribute to TPA primarily by alleviating corporate financing constraints through the resource complementarity effect.In contrast,the check&balance effect of promoting corporate poverty alleviation by mitigating the principal-agent problem has not yet been significantly demonstrated.Regarding the poverty alleviation model,state capital equity participation prompts private enterprises to contribute to TPA through industrial development,educational investment,and environmental protection,emphasizing a combination of providing external assistance and cultivating endogenous development capacity.In terms of TPA regions,state capital equity participation plays a significant role in supporting economically less-developed regions,regions with high unemployment rates,and central and western regions.This paper provides new empirical evidence for deepening mixed-ownership reforms and advancing common prosperity.展开更多
We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction...We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.展开更多
Virtual property has increasingly become a key issue,particularly regarding its nature,ownership,and goodwill acquisition,all of which are worthy of study.Analyzing these issues can contribute to a better understandin...Virtual property has increasingly become a key issue,particularly regarding its nature,ownership,and goodwill acquisition,all of which are worthy of study.Analyzing these issues can contribute to a better understanding of how to develop laws and regulations to protect virtual property.展开更多
Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process ...Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.展开更多
Considering both the discrete and ordered nature of the household car ownership an ordered logistic regression model to predict household car ownership is established by using the data of Nanjing Household Travel Surv...Considering both the discrete and ordered nature of the household car ownership an ordered logistic regression model to predict household car ownership is established by using the data of Nanjing Household Travel Survey in the year 2012. The model results show that some household characteristics such as the number of driver licenses household income and home location are significant.Yet the intersection density indicating the street patterns of home location and the dummy near the subway and the bus stop density indicating the transit accessibility of home location are insignificant.The model estimation obtains a good γ2 the goodness of fit of the model and the model validation also shows a good performance in prediction.The marginal effects of all the significant explanatory variables are calculated to quantify the odds change in the household car ownership following a one-unit change in the explanatory variables.展开更多
This paper examines the effects of internal control mechanisms on the financial distress of publicly listed companies in China. Using t-test and Logistic regression analysis, we investigated the following aspects: own...This paper examines the effects of internal control mechanisms on the financial distress of publicly listed companies in China. Using t-test and Logistic regression analysis, we investigated the following aspects: ownership by top managers and the CEO, the number of directors, the percentage of inside directors, CEO duality, and ownership concentration. The empirical tests indicate a lower probability of financial distress when ownership by top managers and that by the CEO are higher. The evidence also shows that a combination of two parts, the CEO and the chairman of the board, may influence the internal control system of a publicly listed companies.展开更多
Benzene is a classified as ahuman carcinogen that can cause myelodysplastic syndrome and acute myelogenousleukemia;.This compound is also a potent toxin suppressing the bone marrow.Accordingly,benzene causes serious h...Benzene is a classified as ahuman carcinogen that can cause myelodysplastic syndrome and acute myelogenousleukemia;.This compound is also a potent toxin suppressing the bone marrow.Accordingly,benzene causes serious hematological adverse effects,such as pancytopenia and aplastic展开更多
To address some inherent defects of artificial neural networks, such as insufficient generalization performance, local extremum problem, and dimensional catastrophe problem, a support vector machine was proposed and a...To address some inherent defects of artificial neural networks, such as insufficient generalization performance, local extremum problem, and dimensional catastrophe problem, a support vector machine was proposed and applied to the modeling of automobile ownership prediction. By analyzing the data on automobile ownership and its influencing factors, the learning sample couples for automobile ownership prediction modeling were constructed, and support vector machine (SVM) was used to regression the nonlinear function relation of automobile ownership prediction model, and the established automobile ownership prediction model was used to predict the automobile ownership in different years. To reduce the impact on the accuracy of automobile ownership prediction caused by the large order of magnitude difference between the data of automobile ownership and its influence factors, the normalization method was used to pre-process the automobile ownership and its influence factors, and the inverse normalization was used to process the automobile ownership prediction results. The comparison between the automobile ownership prediction results and the statistical results shows that the automobile ownership prediction model has good generalization performance, and the support vector machine is an effective method to model the automobile ownership prediction.展开更多
Based on the panel data of China's 34 industrial sectors during 2005-2013, this paper tests the water pollution effects of SOE ownership diversification in China. The result shows that in general, greater state ow...Based on the panel data of China's 34 industrial sectors during 2005-2013, this paper tests the water pollution effects of SOE ownership diversification in China. The result shows that in general, greater state ownership and less private ownership in a sector will lead to lower water pollution intensity. Test of threshold effect shows that, irrespective of its current level, an increase in state ownership helps improve the environment by different degrees. When pollution intensity is low, ownership diversification helps reduce pollution intensity; when pollution intensity is high, state ownership is the optimal choice for mitigating pollution. This paper's findings suggest that while advancing the mixedownership reform of SOEs, China cannot relax the environmental responsibilities of SOEs, and still less should economic interests override environmental concerns.展开更多
Mixed ownership is an important form of realization of China's economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of ...Mixed ownership is an important form of realization of China's economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.展开更多
The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate ...The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate valuation and the holding percentage of controlling shareholders. But recent empirical evidence does not support it. A nonlinear relationship is proved between ownership structure and corporate valuaton by relaxing the assumption of La Porta's model in this paper. There exists a positive relation between investor protection and corporate valuation. Our empirical research shows that this relation is significantly positive indeed.展开更多
基金This work is supported by the Hainan Provincial Natural Science Foundation of China(618QN219)the National Natural Science Foundation of China(Grant No.61501447)the General Project of Scientific Research of Liaoning Provincial Department of Education(LYB201616).
文摘As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their serious privacy.Based on the SDN(Software Defined Network)technology,this paper proposes a novel event-based anomaly detection approach to identify misbehaviors using non-public industrial communication protocols,and this approach can be installed in SDN switches as a security software appliance in SDN-based control systems.Furthermore,aiming at the unknown protocol specification and message format,this approach first restructures the industrial communication sessions and merges the payloads from industrial communication packets.After that,the feature selection and event sequence extraction can be carried out by using the N-gram model and K-means algorithm.Based on the obtained event sequences,this approach finally trains an event-based HMM(Hidden Markov Model)to identify aberrant industrial communication behaviors.Experimental results clearly show that the proposed approach has obvious advantages of classification accuracy and detection efficiency.
文摘SHORTLY after Spring Festival in mid-February, as China prepared for its WTO entry, arbitration took place between a non-public owned enterprise in Zhangjiagang, Jiangsu Province, and an American company,
文摘THE non-public economy has played an important role in China’s economic reforms over the past two decades, bringing about great changes to the economy and soci-
文摘IN order to keep to promisesmade during negotiations to jointhe WTO, as from April 1,2002, the Chinese governmentbegan implementing the revised"Catalogue of Industries for ForeignInvestment" and its appendix.
基金the National Social Science Fund of China(NSSFC),“Study on the Policy Effect Evaluation and Optimization of Dual-Pillar Regulation under Triple Pressures”(Grant No.22&ZD063)General Project of the National Natural Science Foundation of China(NSFC),“Financial Fundamentals Information and Financial Risk Forecast:Machine Learning and Economic Theories”(Grant No.72072193)General Project of the National Natural Science Foundation of China(NSFC),“Investment Q Theory,Investor Sentiment and Capital Market Asset Pricing:A Big Data Perspective”(Grant No.71872195).
文摘Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic performance.However,further testing is required to assess whether enterprises contribute to the improvement of distribution by participating in TPA.Taking A-share-listed private enterprises between 2016 and 2021 as research samples,we conducted an investigation into the extent and manner in which the mixed-ownership reform contributes to TPA.Our research reveals that a higher proportion of state capital equity participation is correlated with a greater level of private enterprises’contribution to TPA.This indicates that the mixed-ownership reform is beneficial for prompting private enterprises to shoulder responsibilities for building a society of common prosperity.As shown by the mechanism test,state capital equity participation encourages private enterprises to contribute to TPA primarily by alleviating corporate financing constraints through the resource complementarity effect.In contrast,the check&balance effect of promoting corporate poverty alleviation by mitigating the principal-agent problem has not yet been significantly demonstrated.Regarding the poverty alleviation model,state capital equity participation prompts private enterprises to contribute to TPA through industrial development,educational investment,and environmental protection,emphasizing a combination of providing external assistance and cultivating endogenous development capacity.In terms of TPA regions,state capital equity participation plays a significant role in supporting economically less-developed regions,regions with high unemployment rates,and central and western regions.This paper provides new empirical evidence for deepening mixed-ownership reforms and advancing common prosperity.
文摘We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.
文摘Virtual property has increasingly become a key issue,particularly regarding its nature,ownership,and goodwill acquisition,all of which are worthy of study.Analyzing these issues can contribute to a better understanding of how to develop laws and regulations to protect virtual property.
文摘Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.
文摘Considering both the discrete and ordered nature of the household car ownership an ordered logistic regression model to predict household car ownership is established by using the data of Nanjing Household Travel Survey in the year 2012. The model results show that some household characteristics such as the number of driver licenses household income and home location are significant.Yet the intersection density indicating the street patterns of home location and the dummy near the subway and the bus stop density indicating the transit accessibility of home location are insignificant.The model estimation obtains a good γ2 the goodness of fit of the model and the model validation also shows a good performance in prediction.The marginal effects of all the significant explanatory variables are calculated to quantify the odds change in the household car ownership following a one-unit change in the explanatory variables.
文摘This paper examines the effects of internal control mechanisms on the financial distress of publicly listed companies in China. Using t-test and Logistic regression analysis, we investigated the following aspects: ownership by top managers and the CEO, the number of directors, the percentage of inside directors, CEO duality, and ownership concentration. The empirical tests indicate a lower probability of financial distress when ownership by top managers and that by the CEO are higher. The evidence also shows that a combination of two parts, the CEO and the chairman of the board, may influence the internal control system of a publicly listed companies.
基金supported by the Key Program of the National Natural Science Foundation of China [81730087]Jiangsu Provincial Youth Medical Talent program [QNRC2016536]+3 种基金Six Talent Peaks Project in Jiangsu Province [WSW-017]Jiangsu Province’s Outstanding Medical Academic Leader program [CXTDA2017029]Preventive Medicine Foundation of Jiangsu [Y2015049]Occupational Health Risk assessement and National Occupational Hygienic Standard Formulation [131031109000150003]
文摘Benzene is a classified as ahuman carcinogen that can cause myelodysplastic syndrome and acute myelogenousleukemia;.This compound is also a potent toxin suppressing the bone marrow.Accordingly,benzene causes serious hematological adverse effects,such as pancytopenia and aplastic
文摘To address some inherent defects of artificial neural networks, such as insufficient generalization performance, local extremum problem, and dimensional catastrophe problem, a support vector machine was proposed and applied to the modeling of automobile ownership prediction. By analyzing the data on automobile ownership and its influencing factors, the learning sample couples for automobile ownership prediction modeling were constructed, and support vector machine (SVM) was used to regression the nonlinear function relation of automobile ownership prediction model, and the established automobile ownership prediction model was used to predict the automobile ownership in different years. To reduce the impact on the accuracy of automobile ownership prediction caused by the large order of magnitude difference between the data of automobile ownership and its influence factors, the normalization method was used to pre-process the automobile ownership and its influence factors, and the inverse normalization was used to process the automobile ownership prediction results. The comparison between the automobile ownership prediction results and the statistical results shows that the automobile ownership prediction model has good generalization performance, and the support vector machine is an effective method to model the automobile ownership prediction.
基金supported by the“Growth Dividend Effect and Growth Pressure Effect on Environmental Performance in the New Normal”of the National Social Science Fund(15CJL012)Beijing Social Science Fund Program“Effects of Economic Growth in Beijing-Tianjin-Hebei on Environmental Pollution in the New Normal and Simulated Scenario”(15JDJGC096)
文摘Based on the panel data of China's 34 industrial sectors during 2005-2013, this paper tests the water pollution effects of SOE ownership diversification in China. The result shows that in general, greater state ownership and less private ownership in a sector will lead to lower water pollution intensity. Test of threshold effect shows that, irrespective of its current level, an increase in state ownership helps improve the environment by different degrees. When pollution intensity is low, ownership diversification helps reduce pollution intensity; when pollution intensity is high, state ownership is the optimal choice for mitigating pollution. This paper's findings suggest that while advancing the mixedownership reform of SOEs, China cannot relax the environmental responsibilities of SOEs, and still less should economic interests override environmental concerns.
文摘Mixed ownership is an important form of realization of China's economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.
文摘The purpose of this paper is to investigate the relationship between investor protection, ownership structure and corporate valuation. La Porta showed that there existed a simple linear relationship between corporate valuation and the holding percentage of controlling shareholders. But recent empirical evidence does not support it. A nonlinear relationship is proved between ownership structure and corporate valuaton by relaxing the assumption of La Porta's model in this paper. There exists a positive relation between investor protection and corporate valuation. Our empirical research shows that this relation is significantly positive indeed.