The observation of geomagnetic field variations is an important approach to studying earthquake precursors.Since 1987,the China Earthquake Administration has explored this seismomagnetic relationship.In particular,the...The observation of geomagnetic field variations is an important approach to studying earthquake precursors.Since 1987,the China Earthquake Administration has explored this seismomagnetic relationship.In particular,they studied local magnetic field anomalies over the Chinese mainland for earthquake prediction.Owing to the years of research on the seismomagnetic relationship,earthquake prediction experts have concluded that the compressive magnetic effect,tectonic magnetic effect,electric magnetic fluid effect,and other factors contribute to preearthquake magnetic anomalies.However,this involves a small magnitude of magnetic field changes.It is difficult to relate them to the abnormal changes of the extremely large magnetic field in regions with extreme earthquakes owing to the high cost of professional geomagnetic equipment,thereby limiting large-scale deployment.Moreover,it is difficult to obtain strong magnetic field changes before an earthquake.The Tianjin Earthquake Agency has developed low-cost geomagnetic field observation equipment through the Beijing–Tianjin–Hebei geomagnetic equipment test project.The new system was used to test the availability of equipment and determine the findings based on big data..展开更多
Creditors,such as banks,often use disclosed environmental information to assess a company’s environmental risk and ensure the safety of debt funds.Consequently,carbon disclosures have become an important consideratio...Creditors,such as banks,often use disclosed environmental information to assess a company’s environmental risk and ensure the safety of debt funds.Consequently,carbon disclosures have become an important consideration for creditors when making investments.This study explores the relationship between carbon disclosure and debt financing costs using data on listed companies from 2008 to 2019.The results show that carbon disclosure can reduce the debt financing costs of enterprises,and that this influence is more significant for private companies than for state-owned enterprises.Instrumental variables and Propensity Score Matching(PSM)were used to evaluate the robustness of negative relationships.Furthermore,carbon disclosure has a more significant impact on debt costs with less environmental supervision pressure,weak residents’environmental awareness,and weak product market competition.These findings provide guidance for companies’carbon information disclosure and support the establishment of official carbon disclosure standards.展开更多
Low cost, high performance supercapacitor electrodes were fabricated using coconut waste as precursor. Simple one step pyrolysis is adopted to get the spherical shaped particle where lignocellulosic nature of carbon c...Low cost, high performance supercapacitor electrodes were fabricated using coconut waste as precursor. Simple one step pyrolysis is adopted to get the spherical shaped particle where lignocellulosic nature of carbon converts into porous carbon nanospheres. Three types of coconut wastes, namely, coconut fiber(CF), coconut leaves(CL) and coconut stick(CS) have been studied and compared for their application in supercapacitors. Uniform spherical shape with particle size ranging from 30 to 60 nm for leaves and sticks and20 nm for fibers was obtained. The electrochemical properties of the porous carbon nanospheres were studied using cyclic voltammetry(CV), chronopotentiometry(CP) and electrochemical impedance spectroscopy(EIS). The porous carbon nanospheres derived from all the three biowaste samples show good electrochemical performance for supercapacitor application. Porous carbon nanospheres derived from coconut fiber exhibited maximum specific capacitance of 236 F/g followed by coconut stick and coconut leaves with 208 and 116 F/g respectively at a scan rate of 2 m V/s. Further impedance studies showed a charge transfer resistance of 4.9 for the porous carbon nanospheres derived from coconut fiber, while those from coconut leaves and coconut stick exhibited a slightly higher resistance of 6 and14.2, respectively. The simple eco-friendly approach we have demonstrated for synthesizing coconut waste based carbon nanospheres makes them excellent candidates for future, low-cost, energy storage devices.展开更多
The worldwide space industry has entered a new space economy era.The question is how to develop in this new era?This paper tries to answer this question from two aspects:highly reliable and low-cost technology for acc...The worldwide space industry has entered a new space economy era.The question is how to develop in this new era?This paper tries to answer this question from two aspects:highly reliable and low-cost technology for access to space,and the cislunar economic zone.Firstly,the development requirement of the future space transportation system is discussed and the development path to enable high-reliability and a low cost of space transportation system is analyzed.Moreover,the concept of a routine space transportation system is proposed,upon which this paper gives some thoughts to the development of the cislunar economic zone thus embracing the new space economy era.展开更多
Guaranteed cost consensus analysis and design problems for high-dimensional multi-agent systems with time varying delays are investigated. The idea of guaranteed cost con trol is introduced into consensus problems for...Guaranteed cost consensus analysis and design problems for high-dimensional multi-agent systems with time varying delays are investigated. The idea of guaranteed cost con trol is introduced into consensus problems for high-dimensiona multi-agent systems with time-varying delays, where a cos function is defined based on state errors among neighboring agents and control inputs of all the agents. By the state space decomposition approach and the linear matrix inequality(LMI)sufficient conditions for guaranteed cost consensus and consensu alization are given. Moreover, a guaranteed cost upper bound o the cost function is determined. It should be mentioned that these LMI criteria are dependent on the change rate of time delays and the maximum time delay, the guaranteed cost upper bound is only dependent on the maximum time delay but independen of the Laplacian matrix. Finally, numerical simulations are given to demonstrate theoretical results.展开更多
The Finnish health care system is financed in a highly decentralized manner. In the tax-financed Beveridge model each municipality is responseble for financing and organizing health care services for its residents. Th...The Finnish health care system is financed in a highly decentralized manner. In the tax-financed Beveridge model each municipality is responseble for financing and organizing health care services for its residents. This paper examined the annual incidence and treatment costs of three cost-intensive DRG-groups, and all DRG-groups together. The objective was to estimate municipal level predictions on the incidence of new illness cases and their associated costs, and to analyze whether there was greater uncertainty in anticipated specialized health care costs in municipalities with smaller populations. The dataset comprised of longitudinal hospital utilization and discharge data from Hospital Discharge Registers. The expected annual variation of illness cases and costs was assessed with respect to 95% confidence intervals estimated for each morbidity group and municipality. The results indicated that the costs of the selected morbidity groups fluctuated in a completely uncontrollable manner in municipalities with small populations. As the median size of Finnish municipalities is less than 6000, the inability to anticipate periodic health care costs constitutes an extensive financial problem and calls for the establishment of larger regional units and funding pools.展开更多
With the development of economic globalization and the ability of innovation in science and technology under the background of growing, producing more and more high and new technology enterprise. They are both the dou...With the development of economic globalization and the ability of innovation in science and technology under the background of growing, producing more and more high and new technology enterprise. They are both the double character of the high-tech enterprises and traditional enterprises, in the process of development will face more challenges, financing problem is one of the focus of attention. So this paper choose the financing problem as the research direction of the high-tech enterprises. In view of the theoretical part of the article introduces a case is analyzed, and the company put forward some countermeasures to solve the difficulties of financing. Finally, the article summary of object of study is summarized.展开更多
In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and cap...In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and capital cost ratio as two measurements of financing cost, compared financing costs of different channels, examined the relationship of risk premium, financial repression, interest rate liberalization, and resource occupation versus financing cost, and addressed the problem of high non-manufacturing cost. On such a basis, specific countermeasures have been proposed. The main conclusion of this paper is: The current high social financing costs primarily result from economic structural imbalance. The fundamental solution lies in continuing structural reform and credibility system development to eliminate barriers in the transmission of capital circulation policies such as expanding equity financing, relaxing market access formalities for small and micro financial institutions, and improving the bankruptcy system to give full play to the "survival of the fittest" mechanism of the market.展开更多
This paper takes the Chinese listed company with the equity refinancing qualification from 2012 to 2013 as the research object, and uses the residual revenue model to calculate the equity financing cost. This paper di...This paper takes the Chinese listed company with the equity refinancing qualification from 2012 to 2013 as the research object, and uses the residual revenue model to calculate the equity financing cost. This paper discusses the impact of the overconfidence of executives on the equity financing cost and its impact mechanism. The unique institutional background examines the differences in property rights characteristics. The research found that:(1) executive overconfidence has a negative impact on the cost of equity financing, executives tend to be overconfident, the higher the equity financing cost of the company;(2) the overconfidence of executives to state-owned enterprises compared to private enterprises The negative impact of financing costs is more significant;(3) in addition, this paper also examines the potential impact mechanism of executive overconfidence on the cost of equity financing. The quality of information disclosure and the risk of investor prediction have a mediating effect on the impact of executive overconfidence on equity financing costs.展开更多
Indonesian National Electricity Company (PT.PLN (Persero)) has planned to install additional high voltage undersea cable for circuit llI and IV Java-Bali to fulfill electricity demand in Bali. This project was mor...Indonesian National Electricity Company (PT.PLN (Persero)) has planned to install additional high voltage undersea cable for circuit llI and IV Java-Bali to fulfill electricity demand in Bali. This project was more prefered compared to building another power plant in Bali which could raise social and cultural resistance. Life cycle cost method was used to complete the financial feasibility study to ensure if the project has economic benefit, and the asset would be used effectively and efficiently along its benefit period. In this paper, a life cycle cost will be simulated to analyze which alternative is the most profitable: installation circuit III and IV in 2012 or installation circuit III in 2012 and circuit IV in 2017 in accordance with load forecasting demand. This study is used to help the management to make a decision about the project.展开更多
In this study, the benefit-cost analysis technique for projects evaluation is applied to determine the minimum level of demand that makes a high-speed rail project economically viable in Spain. To get this goal, it is...In this study, the benefit-cost analysis technique for projects evaluation is applied to determine the minimum level of demand that makes a high-speed rail project economically viable in Spain. To get this goal, it is nec- essary to take into account not only the costs and benefits of the high speed railway but also the analysis of the costs and benefits linked to other alternative transport modes, such as plane, private car or bus. The re- sults show that the high-speed rail studied is socially profitable from a traffic volume of 6.5 million passen- gers and for a social discount rate of 4%. Given the benefits associated with network effects, which magni- tude grows parallel to the extension of the high-speed network, this threshold could be significantly reduced in subsequent projects.展开更多
In establishing a plant or factory, the cost-benefit analysis is needed to determine the viability for such financial investment on the project. In this paper, the cost establishing a factory of 200,000 bricks per ann...In establishing a plant or factory, the cost-benefit analysis is needed to determine the viability for such financial investment on the project. In this paper, the cost establishing a factory of 200,000 bricks per annum capacity, for the production of high quality refractory bricks from locally available raw materials in Nigeria was evaluated. The evaluation was conducted on the virgin refractory material (100%) as well as with varied percentages (10% - 40%) of alumina additions. The result of cost benefit analysis indicated that, the project was viable, with the highest cost at N1,203.66 per brick as against N1,800 (at 3 years projections) of the imported brick. The payback period for the capital investment was very short (within two years). The findings will aid investors in decision makings.展开更多
基金supported by the Spark Program of Earthquake Science and Technology(No.XH23003C).
文摘The observation of geomagnetic field variations is an important approach to studying earthquake precursors.Since 1987,the China Earthquake Administration has explored this seismomagnetic relationship.In particular,they studied local magnetic field anomalies over the Chinese mainland for earthquake prediction.Owing to the years of research on the seismomagnetic relationship,earthquake prediction experts have concluded that the compressive magnetic effect,tectonic magnetic effect,electric magnetic fluid effect,and other factors contribute to preearthquake magnetic anomalies.However,this involves a small magnitude of magnetic field changes.It is difficult to relate them to the abnormal changes of the extremely large magnetic field in regions with extreme earthquakes owing to the high cost of professional geomagnetic equipment,thereby limiting large-scale deployment.Moreover,it is difficult to obtain strong magnetic field changes before an earthquake.The Tianjin Earthquake Agency has developed low-cost geomagnetic field observation equipment through the Beijing–Tianjin–Hebei geomagnetic equipment test project.The new system was used to test the availability of equipment and determine the findings based on big data..
文摘Creditors,such as banks,often use disclosed environmental information to assess a company’s environmental risk and ensure the safety of debt funds.Consequently,carbon disclosures have become an important consideration for creditors when making investments.This study explores the relationship between carbon disclosure and debt financing costs using data on listed companies from 2008 to 2019.The results show that carbon disclosure can reduce the debt financing costs of enterprises,and that this influence is more significant for private companies than for state-owned enterprises.Instrumental variables and Propensity Score Matching(PSM)were used to evaluate the robustness of negative relationships.Furthermore,carbon disclosure has a more significant impact on debt costs with less environmental supervision pressure,weak residents’environmental awareness,and weak product market competition.These findings provide guidance for companies’carbon information disclosure and support the establishment of official carbon disclosure standards.
文摘Low cost, high performance supercapacitor electrodes were fabricated using coconut waste as precursor. Simple one step pyrolysis is adopted to get the spherical shaped particle where lignocellulosic nature of carbon converts into porous carbon nanospheres. Three types of coconut wastes, namely, coconut fiber(CF), coconut leaves(CL) and coconut stick(CS) have been studied and compared for their application in supercapacitors. Uniform spherical shape with particle size ranging from 30 to 60 nm for leaves and sticks and20 nm for fibers was obtained. The electrochemical properties of the porous carbon nanospheres were studied using cyclic voltammetry(CV), chronopotentiometry(CP) and electrochemical impedance spectroscopy(EIS). The porous carbon nanospheres derived from all the three biowaste samples show good electrochemical performance for supercapacitor application. Porous carbon nanospheres derived from coconut fiber exhibited maximum specific capacitance of 236 F/g followed by coconut stick and coconut leaves with 208 and 116 F/g respectively at a scan rate of 2 m V/s. Further impedance studies showed a charge transfer resistance of 4.9 for the porous carbon nanospheres derived from coconut fiber, while those from coconut leaves and coconut stick exhibited a slightly higher resistance of 6 and14.2, respectively. The simple eco-friendly approach we have demonstrated for synthesizing coconut waste based carbon nanospheres makes them excellent candidates for future, low-cost, energy storage devices.
文摘The worldwide space industry has entered a new space economy era.The question is how to develop in this new era?This paper tries to answer this question from two aspects:highly reliable and low-cost technology for access to space,and the cislunar economic zone.Firstly,the development requirement of the future space transportation system is discussed and the development path to enable high-reliability and a low cost of space transportation system is analyzed.Moreover,the concept of a routine space transportation system is proposed,upon which this paper gives some thoughts to the development of the cislunar economic zone thus embracing the new space economy era.
基金supported by Shaanxi Province Natural Science Foundation of Research Projects(2016JM6014)the Innovation Foundation of High-Tech Institute of Xi’an(2015ZZDJJ03)the Youth Foundation of HighTech Institute of Xi’an(2016QNJJ004)
文摘Guaranteed cost consensus analysis and design problems for high-dimensional multi-agent systems with time varying delays are investigated. The idea of guaranteed cost con trol is introduced into consensus problems for high-dimensiona multi-agent systems with time-varying delays, where a cos function is defined based on state errors among neighboring agents and control inputs of all the agents. By the state space decomposition approach and the linear matrix inequality(LMI)sufficient conditions for guaranteed cost consensus and consensu alization are given. Moreover, a guaranteed cost upper bound o the cost function is determined. It should be mentioned that these LMI criteria are dependent on the change rate of time delays and the maximum time delay, the guaranteed cost upper bound is only dependent on the maximum time delay but independen of the Laplacian matrix. Finally, numerical simulations are given to demonstrate theoretical results.
文摘The Finnish health care system is financed in a highly decentralized manner. In the tax-financed Beveridge model each municipality is responseble for financing and organizing health care services for its residents. This paper examined the annual incidence and treatment costs of three cost-intensive DRG-groups, and all DRG-groups together. The objective was to estimate municipal level predictions on the incidence of new illness cases and their associated costs, and to analyze whether there was greater uncertainty in anticipated specialized health care costs in municipalities with smaller populations. The dataset comprised of longitudinal hospital utilization and discharge data from Hospital Discharge Registers. The expected annual variation of illness cases and costs was assessed with respect to 95% confidence intervals estimated for each morbidity group and municipality. The results indicated that the costs of the selected morbidity groups fluctuated in a completely uncontrollable manner in municipalities with small populations. As the median size of Finnish municipalities is less than 6000, the inability to anticipate periodic health care costs constitutes an extensive financial problem and calls for the establishment of larger regional units and funding pools.
文摘With the development of economic globalization and the ability of innovation in science and technology under the background of growing, producing more and more high and new technology enterprise. They are both the double character of the high-tech enterprises and traditional enterprises, in the process of development will face more challenges, financing problem is one of the focus of attention. So this paper choose the financing problem as the research direction of the high-tech enterprises. In view of the theoretical part of the article introduces a case is analyzed, and the company put forward some countermeasures to solve the difficulties of financing. Finally, the article summary of object of study is summarized.
文摘In the last couple of years, social financing costs have shot up in China despite an overall capital abundance and increasing market-based capital allocation. This paper has investigated overall financial cost and capital cost ratio as two measurements of financing cost, compared financing costs of different channels, examined the relationship of risk premium, financial repression, interest rate liberalization, and resource occupation versus financing cost, and addressed the problem of high non-manufacturing cost. On such a basis, specific countermeasures have been proposed. The main conclusion of this paper is: The current high social financing costs primarily result from economic structural imbalance. The fundamental solution lies in continuing structural reform and credibility system development to eliminate barriers in the transmission of capital circulation policies such as expanding equity financing, relaxing market access formalities for small and micro financial institutions, and improving the bankruptcy system to give full play to the "survival of the fittest" mechanism of the market.
文摘This paper takes the Chinese listed company with the equity refinancing qualification from 2012 to 2013 as the research object, and uses the residual revenue model to calculate the equity financing cost. This paper discusses the impact of the overconfidence of executives on the equity financing cost and its impact mechanism. The unique institutional background examines the differences in property rights characteristics. The research found that:(1) executive overconfidence has a negative impact on the cost of equity financing, executives tend to be overconfident, the higher the equity financing cost of the company;(2) the overconfidence of executives to state-owned enterprises compared to private enterprises The negative impact of financing costs is more significant;(3) in addition, this paper also examines the potential impact mechanism of executive overconfidence on the cost of equity financing. The quality of information disclosure and the risk of investor prediction have a mediating effect on the impact of executive overconfidence on equity financing costs.
文摘Indonesian National Electricity Company (PT.PLN (Persero)) has planned to install additional high voltage undersea cable for circuit llI and IV Java-Bali to fulfill electricity demand in Bali. This project was more prefered compared to building another power plant in Bali which could raise social and cultural resistance. Life cycle cost method was used to complete the financial feasibility study to ensure if the project has economic benefit, and the asset would be used effectively and efficiently along its benefit period. In this paper, a life cycle cost will be simulated to analyze which alternative is the most profitable: installation circuit III and IV in 2012 or installation circuit III in 2012 and circuit IV in 2017 in accordance with load forecasting demand. This study is used to help the management to make a decision about the project.
文摘In this study, the benefit-cost analysis technique for projects evaluation is applied to determine the minimum level of demand that makes a high-speed rail project economically viable in Spain. To get this goal, it is nec- essary to take into account not only the costs and benefits of the high speed railway but also the analysis of the costs and benefits linked to other alternative transport modes, such as plane, private car or bus. The re- sults show that the high-speed rail studied is socially profitable from a traffic volume of 6.5 million passen- gers and for a social discount rate of 4%. Given the benefits associated with network effects, which magni- tude grows parallel to the extension of the high-speed network, this threshold could be significantly reduced in subsequent projects.
文摘In establishing a plant or factory, the cost-benefit analysis is needed to determine the viability for such financial investment on the project. In this paper, the cost establishing a factory of 200,000 bricks per annum capacity, for the production of high quality refractory bricks from locally available raw materials in Nigeria was evaluated. The evaluation was conducted on the virgin refractory material (100%) as well as with varied percentages (10% - 40%) of alumina additions. The result of cost benefit analysis indicated that, the project was viable, with the highest cost at N1,203.66 per brick as against N1,800 (at 3 years projections) of the imported brick. The payback period for the capital investment was very short (within two years). The findings will aid investors in decision makings.