Three dimensional geophysical models were abstracted and established according to characteristics of oil and gas reservoir.Then direct current fields for different models were simulated with finite element software(fi...Three dimensional geophysical models were abstracted and established according to characteristics of oil and gas reservoir.Then direct current fields for different models were simulated with finite element software(finite element program generator) by hole-to-surface resistivity method.Numerical solution was compared with analytical one for the homogeneity earth model.And a new parameter of deviation rate was proposed by analyzing different plot curves.The results show that the relative error of solution for homogeneity earth model may attain to 0.043%.And deviation rate decreases from 18% to 1% and its anomaly range becomes wide gradually when the depth of oil and gas reservoir increases from 200 to 1 500 m.If resistivity ratio of oil and gas reservoir to sur-rounding rock decreases from 100 to 10 for the resistive oil and gas reservoir,the amplitude attenuation of deviation rate nearly reaches 8%.When there exists stratum above oil and gas reservoir,and influence of resistive stratum may be eliminated or weakened and anomaly of oil and gas reservoir can be strengthened.展开更多
A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than tw...A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than two thousand of A-shares from 2017 to 2020 were selected.The effect of the traditional patent forward citation and the price-citation for discriminating the stock return rate was thoroughly analyzed via ANOVA.The A-shares of forward citation counts above the average showed higher stock return rate means than the A-shares having patents but receiving no forward citations.The price-citation,combining both the financial and patent attributes,defined as the multiplication of the current stock price and the currently receiving forward citation count,showed its excellence in discriminating the stock return rate.The A-shares of higher price-citation showed significantly higher stock return rate means while the A-shares of lower price-citation showed significantly lowest stock return rate means.The price-citation effect had not been changed by COVID-19 though COVID-19 affected the social and economic environment to a considerable extent in 2020.展开更多
To improve the utilization efficiency of water the laying length of porous tubes was analyzed. Considering long porous tubes the irrigation uniformity of porous tubes was studied by analyzing the deviation rate of the...To improve the utilization efficiency of water the laying length of porous tubes was analyzed. Considering long porous tubes the irrigation uniformity of porous tubes was studied by analyzing the deviation rate of the working head of porous tubes and through an impact analysis of the deviation ratio of flow rate based on laying length slope pressure head and perforation spacing. Results showed that the deviation ratio of the flow rate could be reduced by decreasing the length of tubes and increasing the slope. The deviation ratio of flow rate was less influenced by pressure head and perforation spacing. A best laid slope resulted in a longer laying length of the porous tubes and they were not constant.展开更多
Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on t...Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on the stock price and the stock return rate were analyzed via analysis of variance(ANOVA).It was proved that the A-shares having new patents of any patent species shown the higher stock price mean and the higher stock return rate mean than those A-shares having no new patents did.The A-shares having new design grants were found to show the highest stock price mean among the A-shares having new patents of any patent species.The A-shares in the group of top 25%patent count of either the invention publication or the invention grant shown the highest stock return rates mean than those A-shares in other groups of less patent count did.The invention grant,following the general concept,showed its excellent patent effect.The design grant,beyond the expectation,also showed patent effects on the higher stock price and the higher stock return rate.The finding would improve the state of the art in the patent valuation and the listing company evaluation.展开更多
The distribution performance of the gravity-type liquid distributor(GTLD) significantly affects column operation efficiency and the consequent product quality. In industrial settings, maldistribution is normally consi...The distribution performance of the gravity-type liquid distributor(GTLD) significantly affects column operation efficiency and the consequent product quality. In industrial settings, maldistribution is normally considered to be caused by vertical positional or coplanarity errors stemming from deflections associated with manufacture and installation, or even by excessive weight. The lack ofestimation protocols or standards impedes the description ofthis error, which influences the corresponding outflow rates. Given this situation, the paper proposes a lumped parameter, orifice position deviation(OPD), to facilitate the calculation of the relative discharge rate error(RDRE)based on a formula derivation, which allows the systematic analysis of the influence ofa single orifice or weir OPD.The paper introduces a sensitivity factor K as a concise and unified expression in theoretical RDREs for calibrating the influence of OPD on the RDREs ofgeometrically different orifices and weirs. With respect to the GTLD, a larger K indicates the need for more strict OPD requirements. The paper verifies that the extent of GTLD outflow nonuniformity is associated with diverging tendencies regarding its morphology, especially in the orifice and weir, which can be determined using our proposed procedures.展开更多
In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the...In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the stockholders to worry about the return and risk of financial products.The stockholders focused on the prediction of return rate and risk rate of financial products.Therefore,an automatic return rate bitcoin prediction model becomes essential for BC financial products.The newly designed machine learning(ML)and deep learning(DL)approaches pave the way for return rate predictive method.This study introduces a novel Jellyfish search optimization based extreme learning machine with autoencoder(JSO-ELMAE)for return rate prediction of BC financial products.The presented JSO-ELMAE model designs a new ELMAE model for predicting the return rate of financial products.Besides,the JSO algorithm is exploited to tune the parameters related to the ELMAE model which in turn boosts the classification results.The application of JSO technique assists in optimal parameter adjustment of the ELMAE model to predict the bitcoin return rates.The experimental validation of the JSO-ELMAE model was executed and the outcomes are inspected in many aspects.The experimental values demonstrated the enhanced performance of the JSO-ELMAE model over recent state of art approaches with minimal RMSE of 0.1562.展开更多
This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some ne...This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some new regulations on Nigeria’s Contributory Pension Scheme” (CPS) from amended legislation of 2014, some of which are yet to be implemented when their regulations are approved. A mathematical model involving 5 variables, 5 inequality constraints covering regulatory limitations and limitation on scarce resource known as Asset Under Management (AUM), suggested and mathematically shown to be possible through “maximization of return irrespective of risk” while obeying all regulatory controls as our constraints optimized. Optimized portfolio using MatLab shows that the portfolio representing AES 2013 portfolio with a deficit growth of 15.75 m representing 3.27% less than the portfolio’s full growth potential within defined assumptions would have been averted if contributors actually set their targets and investment managers optimize from forecasts of future prices using trend analysis.展开更多
Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can...Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can provide investors with time to invest in such policies,fluctuations in the underlying stocks of the Chinese stock market,and decision support for the formulation and revision of relevant policies.This paper studies whether there is significant abnormal rate of return in the selected stocks which are in the Shanghai Stock Connect Program within the specified period,the excess return gap between the stocks which are in the program and which are not in the program,and the impact of the Shanghai Stock Connect Program on the volatility of the relevant stocks.Based on the CAPM model and the Fama-French 3-factor model,this paper uses t test to study the significance of the abnormal rate of return.By establishing a difference-in-difference(DID)model,the regression of the abnormal rate of return is tested,and the sample volatility is analyzed according to the influence of the fund transaction.The study found that the stocks in the program have significant abnormal rate of returns during the window period.The Shanghai Stock Connect has brought about a huge change in transaction amount,and policy makers need to improve related and similar policies.展开更多
AIM To systemically review all studies reporting return to sport following tibial plateau fracture, in order to provide information on return rates and times to sport, and to assess variations in sporting outcome for ...AIM To systemically review all studies reporting return to sport following tibial plateau fracture, in order to provide information on return rates and times to sport, and to assess variations in sporting outcome for different treatment methods.METHODS A systematic search of CINAHAL, Cochrane, EMBASE, Google Scholar, MEDLINE, PEDro, Scopus, SPORTDiscus and Web of Science was performed in January 2017 using the keywords "tibial", "plateau", "fractures", "knee", "athletes", "sports", "non-operative", "conservative", "operative", "return to sport". All studies which recorded return rates and times to sport following tibial plateau fractures were included. RESULTS Twenty-seven studies were included: 1 was a randomised controlled trial, 7 were prospective cohort studies, 16 were retrospective cohort studies, 3 were case series. One study reported on the outcome of conservative management(n = 3); 27 reported on the outcome of surgical management(n = 917). Nine studies reported on Open Reduction Internal Fixation(ORIF)(n = 193), 11 on Arthroscopic-Assisted Reduction Internal Fixation(ARIF)(n = 253) and 7 on Frame-Assisted Fixation(FRAME)(n = 262). All studies recorded "return to sport"rates. Only one study recorded a "return to sport" time. The return rate to sport for the total cohort was 70%. For the conservatively-managed fractures, the return rate was 100%. For the surgically-managed fractures, the return rate was 70%. For fractures managed with ORIF, the return rate was 60%. For fractures managed with ARIF, the return rate was 83%. For fractures managed with FRAME was 52%. The return rate for ARIF was found to be significantly greater than that for ORIF(OR 3.22, 95%CI: 2.09-4.97, P < 0.001) and for FRAME(OR 4.33, 95%CI: 2.89-6.50, P < 0.001). No difference was found between the return rates for ORIF and FRAME(OR 1.35, 95%CI: 0.92-1.96, P = 0.122). The recorded return time was 6.9 mo(median), from a study reporting on ORIF.CONCLUSION Return rates to sport for tibial plateau fractures remain limited compared to other fractures. ARIF provides the best return rates. There is limited data regarding return times to sport. Further research is required to determine return times to sport, and to improve return rates to sport, through treatment and rehabilitation optimisation.展开更多
By calculating the hourly standard deviation of the first-order differences of the horizontal geomagnetic com- ponent minute data, a new index Vr to represent the variation rate of the geomagnetic field was introduced...By calculating the hourly standard deviation of the first-order differences of the horizontal geomagnetic com- ponent minute data, a new index Vr to represent the variation rate of the geomagnetic field was introduced. Vr-indices show similar trends in the temporal change at different observatories and have simultaneous peak values at the observatories cov- ering a large span geographically, which reveals that the source of geomagnetic disturbances represented by Vr is in the mag- netosphere. Based on the comparison among Vr, Kp and ap, it is found that generally Vr changes linearly with Kp and ap, which means that the rapid changes of magnetic field usually exist together with magnetic disturbances. But there are excep- tions. As Vr can be easily produced by individual observatory in quasi real time and is more sensitive to the variation rate of geomagnetic field rather than the field itself, it can be expected to serve for monitoring or predicting the geomagnetic-induced event in a quick and intuitive way.展开更多
BACKGROUND Scaphoid fracture is the most commonly fractured carpal bone in the athletic patient, accounting for over 85% of all sport-related carpal bone fractures, and is particularly common in sports involving high ...BACKGROUND Scaphoid fracture is the most commonly fractured carpal bone in the athletic patient, accounting for over 85% of all sport-related carpal bone fractures, and is particularly common in sports involving high impact injuries to the wrist. The management of such injuries comprises both conservative and surgical techniques, as guided by fracture location and type. Athletes demonstrate a unique challenge with regards to the management of scaphoid fractures due to their requirement to return to sport, as soon as able.AIM To review systemically all studies recording return to sport following scaphoid fractures, to collate information on return rates to sport(RRS) and mean return times(RTS) to sport and to determine differences in sporting outcome for the various treatment methods.METHODS A systematic search of MEDLINE, EMBASE, CINAHAL, Cochrane, Google Scholar, Physiotherapy Evidence Database, SPORTDiscus, Web of Science and Scopus was performed in August 2018 using the keywords "scaphoid","fracture", "acute", "carpal", "athletes", "sports", "non-operative","conservative", "operative" and "return to sport". All studies that recorded RRS and RTS following scaphoid fractures were included. RTS was recorded as the length of time from commencement of either primary conservative management or primary surgical procedure to return to sport.RESULTS Eleven studies were included: Two randomised controlled trials, six retrospective cohort studies and three case series. Seven studies reported on conservative management(n = 77), and eight studies reported on surgical management(n =83). For conservative management, RRS was 90%(69/77), and the mean RTS was9.6 wk. Three studies allowed to return to sport in cast [RRS 89%(25/28); RTS 1.9 wk], and four studies required completion of cast treatment prior to returning to sport [RRS 90%(44/49); RTS 13.9 wk]. Four studies recorded fracture union data:Union rate 85%(47/55); mean time to union 14.0 wk. For surgical management,RRS was 98%(81/83), and RTS was 7.3 wk. Three studies reported on Percutaneous Screw Fixation [RRS 97%(32/33); RTS 6.5 wk], and five studies reported on Open Reduction Internal Fixation [RRS 98%(49/50); RTS 7.9 wk]. Six studies recorded fracture union data: Union rate 97%(69/71); mean time to union9.8 wk. On meta-analysis, RRS(RR = 1.09; 95% confidence interval(CI): 1.00-1.18;P < 0.045), RTS(MD 2.3 wk; 95%CI: 0.79-3.87; P < 0.002), union rates(RR = 1.14;95%CI: 1.01-1.28; P < 0.030) and mean times to union(MD 4.2 wk; 95%CI: 3.94-4.36; P < 0.001) were all significantly better for the surgical cohort compared to the conservative cohort.CONCLUSION Surgical management of scaphoid fractures can provide significantly improved RRS and RTS to sport compared to conservative management. Both treatments,however, remain acceptable options, and athletes should be fully informed of the benefits and risks of both prior to deciding treatment plans. Immediate return to sport in a cast should be avoided due to the significant risk of non-union.展开更多
Black soil is one of the most precious soil resources on earth because it has abundant carbon stocks and a relatively high production capacity. However, decreasing organic matter after land reclamation, and the effect...Black soil is one of the most precious soil resources on earth because it has abundant carbon stocks and a relatively high production capacity. However, decreasing organic matter after land reclamation, and the effects of long-term inputs of organic carbon have made it less fertile black soil in Northeast China. Straw return could be an effective method for improving soil organic carbon(SOC) sequestration in black soils. The objective of this study was to evaluate whether straw return effectively increases SOC sequestration. Long-term field experiments were conducted at three sites in Northeast China with varying latitudes and SOC densities. Study plots were subjected to three treatments: no fertilization(CK); inorganic fertilization(NPK); and NPK plus straw return(NPKS). The results showed that the SOC stocks resulting from NPKS treatment were 4.0 and 5.7% higher than those from NPK treatment at two sites, but straw return did not significantly affect the SOC stocks at the third site. Furthermore, at higher SOC densities, the NPKS treatment resulted in significantly higher soil carbon sequestration rates(CSR) than the NPK treatment. The equilibrium value of the CSR for the NPKS treatment equated to cultivation times of 17, 11, and 8 years at the different sites. Straw return did not significantly increase the SOC stocks in regions with low SOC densities, but did enhance the C pool in regions with high SOC densities. These results show that there is strong regional variation in the effects of straw return on the SOC stocks in black soil in Northeast China. Additional cultivations and fertilization practices should be used when straw return is considered as an approach for the long-term improvement of the soil organic carbon pool.展开更多
The objectives of the present study were to evaluate the yolk-sac and oil globule absorption and point of no return (PNR) ofpikeperch (Sander lucioperca L.) larvae. Artificial propagation ofpikeperch was performed...The objectives of the present study were to evaluate the yolk-sac and oil globule absorption and point of no return (PNR) ofpikeperch (Sander lucioperca L.) larvae. Artificial propagation ofpikeperch was performed at (15±2)℃. Yolk-sac absorption, oil globule absorption, larval growth and the first initial feeding rate were observed to analyze the early growth and to determine the PNR of pikeperch larvae. The total length of newly hatched (0 day after hatching, DAH) pikeperch larvae was (4.25±0.22) mm and the volume of the yolk-sac and the oil globule was (0.30±0.12)mm^3 and (5.14±2.28) 10-2 mm^3 respectively. The yolk-sac and the oil globule were exhausted at 11 DAH and 14 DAH, respectively. Pikeperch larvae began feeding at 8 DAH with an initial feeding rate about 10.0%. From 9 to 14 DAH, the initial feeding rate increased rapidly, and reached its highest (about 82.7%) at 14 DAH. It declined thereafter, 48.9% at 15 DAH and 35.6% at 16 DAH, thus the pikeperch larvae reached PNR by 15-16 DAH. The appropriate first feeding time for the pikeperch larvae is 11-12 DAH, when the initial feeding rate is higher than half of the maximum initial feeding rate.展开更多
In situ pressure-preserved coring(IPP-Coring)technology is considered one of the most efficient methods for assessing resources.However,seal failure caused by the rotation of pressure controllers greatly affects the s...In situ pressure-preserved coring(IPP-Coring)technology is considered one of the most efficient methods for assessing resources.However,seal failure caused by the rotation of pressure controllers greatly affects the success of pressure coring.In this paper,a novel spherical-cylindrical shell pressure controller was proposed.The finite element analysis model was used to analyze the stress distribution and deformation characteristics of the pressure controller at different rotation angles.The seal failure mechanism caused by the rotation of the pressure controller was discussed.The stress deviation rate was defined to quantitatively characterize the stress concentration.Based on the test equipment designed in this laboratory,the ultimate bearing strength of the pressure controller was tested.The results show that the rotation of the valve cover causes an increase in the deformation on its lower side.Furthermore,the specific sealing pressure in the weak zone is greatly reduced by a statistically significant amount,resulting in seal failure.When the valve cover rotates 5°around the major axis,the stress deviation rate is-92.6%.To prevent rotating failure of the pressure controller,it is necessary to control the rotation angle of the valve cover within 1°around the major axis.The results of this research can help engineers reduce failure-related accidents,provide countermeasures for pressure coring,and contribute to the exploration and evaluation of deep oil and gas resources.展开更多
Field trials were conducted to determine the economically optimum fertilizer rates for soybean production and for optimizing net profits in Dedza, Lilongwe and Salima Districts of Malawi. The effects of PK fertilizer ...Field trials were conducted to determine the economically optimum fertilizer rates for soybean production and for optimizing net profits in Dedza, Lilongwe and Salima Districts of Malawi. The effects of PK fertilizer rates on rain use efficiency (RUE), harvest index, agronomic use efficiency of phosphorous (AEP) and potassium (AEK), and value cost ratio (VCR) were evaluated. The applied diagnostic PK fertilizer rates significantly improved soybean grain yields, harvest index, rainwater use efficiency, AEP, AEK and returns to fertilizer use expressed as value cost ratio (VCR). However, the results differed significantly展开更多
A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing eve...A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing event and a random variable Z representing the recovery rate of a bond or a devaluation factor. The model equation is an integro-differential equation with deviating arguments. The analytical solutions were obtained for the probability of survival as Z is a discrete random variable and as Z is a continuous random variable respectively.展开更多
The number of return photons from sodium laser beacon(SLB) greatly suffers down-pumping, recoil, and geomagnetic field when the long pulse laser with circular polarization interacts with sodium atoms in the mesosphe...The number of return photons from sodium laser beacon(SLB) greatly suffers down-pumping, recoil, and geomagnetic field when the long pulse laser with circular polarization interacts with sodium atoms in the mesosphere. Considering recoil and down-pumping effects on the number of return photons from SLB, the spontaneous radiation rates are obtained by numerical computations and fittings. Furthermore, combining with the geomagnetic field effects, a new expression is achieved for calculating the number of return photons. By using this expression and considering the stochastic distribution of laser intensity in the mesosphere under different turbulence models for atmosphere, the number of return photons excited by the narrow-band single mode laser and that by the narrow-band three-mode laser are respectively calculated. The results show that the narrow-band three-mode laser with a specific spectrum structure has a higher spontaneous radiation rate and more return photons than a narrow-band single mode laser. Of note, the effect of the atmospheric turbulence on the number of return photons is remarkable. Calculation results indicate that the number of return photons under the HV5/7 model for atmospheric turbulence is much higher than that under the Greenwood and Mod HV models.展开更多
BACKGROUND Evidence-based guidance on return to sport following toe phalanx fractures is limited.AIM To systemically review all studies recording return to sport following toe phalanx fractures(both acute fractures an...BACKGROUND Evidence-based guidance on return to sport following toe phalanx fractures is limited.AIM To systemically review all studies recording return to sport following toe phalanx fractures(both acute fractures and stress fractures),and to collate information on return rates to sport(RRS)and mean return times(RTS)to the sport.METHODS A systematic search of PubMed,MEDLINE,EMBASE,CINAHL,Cochrane Library,Physiotherapy Evidence Database,and Google Scholar was performed in December 2022 using the keywords‘Toe’,‘Phalanx’,‘Fracture’,‘injury’,‘athletes’,‘sports’,‘non-operative’,‘conservative’,‘operative’,‘return to sport’.All studies which recorded RRS and RTS following toe phalanx fractures were included.RESULTS Thirteen studies were included:one retrospective cohort study and twelve case series.Seven studies reported on acute fractures.Six studies reported on stress fractures.For the acute fractures(n=156),63 were treated with primary conservative management(PCM),6 with primary surgical management(PSM)(all displaced intra-articular(physeal)fractures of the great toe base of the proximal phalanx),1 with secondary surgical management(SSM)and 87 did not specify treatment modality.For the stress fractures(n=26),23 were treated with PCM,3 with PSM,and 6 with SSM.For acute fractures,RRS with PCM ranged from 0 to 100%,and RTS with PCM ranged from 1.2 to 24 wk.For acute fractures,RRS with PSM were all 100%,and RTS with PSM ranged from 12 to 24 wk.One case of an undisplaced intra-articular(physeal)fracture treated conservatively required conversion to SSM on refracture with a return to sport.For stress fractures,RRS with PCM ranged from 0%to 100%,and RTS with PCM ranged from 5 to 10 wk.For stress fractures,RRS with PSM were all 100%,and RTS with surgical management ranged from 10 to 16 wk.Six cases of conservatively-managed stress fractures required conversion to SSM.Two of these cases were associated with a prolonged delay to diagnosis(1 year,2 years)and four cases with an underlying deformity[hallux valgus(n=3),claw toe(n=1)].All six cases returned to the sport after SSM.CONCLUSION The majority of sport-related toe phalanx fractures(acute and stress)are managed conservatively with overall satisfactory RRS and RTS.For acute fractures,surgical management is indicated for displaced,intra-articular(physeal)fractures,which offers satisfactory RRS and RTS.For stress fractures,surgical management is indicated for cases with delayed diagnosis and established nonunion at presentation,or with significant underlying deformity:both can expect satisfactory RRS and RTS.展开更多
The emphasis of this study is on the practice of the Pooled Mean Group (PMG) estimators to investigate the magnitude of macroeconomic performances: Real Gross Domestic Product (RGDP), Foreign Exchange Rate (EX)...The emphasis of this study is on the practice of the Pooled Mean Group (PMG) estimators to investigate the magnitude of macroeconomic performances: Real Gross Domestic Product (RGDP), Foreign Exchange Rate (EX), and Deposit Interest Rate (DINT) affecting on the rate of financial sector returns in Southeast Asian Stock Markets including Stock Exchange Of Thailand (SET) index (Thailand), the Kuala Lumpur Composite Index (KLSE) index (Malaysia), Financial Times Share Index (FTSI) (Singapore), Philippine Stock Exchange (PSE), and the Jakarta Composite Index (JKSE) (Indonesia). The Panel Autoregressive Distributed Lag (Panel ARDL) is applied to model the relations. The study applies the Levin, Lin, and Chu (LLC) test (2002) and Im, Pesaran, and Shin (IPS) test (2003) to investigates a set of time series data to examine whether the determinants and the rate of financial sector returns contain a unit root, the next step is investigated the cointegration and causality relationship of the determinants of financial sector influencing on long-run rate of returns of financial sector in Southeast Asian Stock Markets.展开更多
As an important part of the pharmaceutical industry, the pharmaceutical manufacturing industry is always at the battlefield of the international public health and health industry. At the same time, as a basic and stra...As an important part of the pharmaceutical industry, the pharmaceutical manufacturing industry is always at the battlefield of the international public health and health industry. At the same time, as a basic and strategic sub-industry in China's manufacturing industry, the medical manufacturing industry closely related to people’s livelihood which is not only related to social Responsibility but also plays a key role in China's economy today. For the Chinese people, the new medical reforms and the irreversible aging of the population have increased the nation’s total expenditure on health care. From January to October 2017, the pharmaceutical industry’s main business income was RMB 2,410.29 billion, a year-on-year increase of 13.10%. This is a 4.50 percentage point higher than the 10.30% growth rate in 2016. However, even if the circumstance of this industry is getting better, high growth also has a drag on the national health insurance system and the standard of living of the people. This article chooses to analyze the financial and operating-level factors of China's pharmaceutical manufacturing listed companies such as Inventory turnover rate and operating rate. Study the impact on the performance of China's pharmaceutical manufacturing listed companies. The results of the study will fill gaps in the research of this industry and help pharmaceutical manufacturing listed companies choose the right capital size, liabilities, and expansion strategies, and more effectively absorb the current development dividends of China’s “four new economy”, and use them rationally and effectively. Markets and complex and limited capital and resources of enterprises, as China's industry benchmarks continue to guide the rapid growth of the market. on the other hand, to help investor the empirical point of view better choice of investment targets. This paper uses data from 2007-2016 for randomly selecting 19 companies from 118 medical manufacturing listed companies classified by China Securities Regulatory Commission. After dealing with panel data, multiple inspections are performed on panel data. To avoid the deviation from the actual level of the regression results, the panel-corrected standard deviation model was used to derive the relationship between the operating-level factors of pharmaceutical manufacturing listed companies and their performance. The results of the study indicate that there is a positive correlation between Inventory turnover rate, operating rate and performance, which fills the domestic empirical research on this issue. This area of industry company performance is blank.展开更多
基金Projects(2006AA06Z105,2007AA06Z134) supported by the National High-Tech Research and Development Program of China
文摘Three dimensional geophysical models were abstracted and established according to characteristics of oil and gas reservoir.Then direct current fields for different models were simulated with finite element software(finite element program generator) by hole-to-surface resistivity method.Numerical solution was compared with analytical one for the homogeneity earth model.And a new parameter of deviation rate was proposed by analyzing different plot curves.The results show that the relative error of solution for homogeneity earth model may attain to 0.043%.And deviation rate decreases from 18% to 1% and its anomaly range becomes wide gradually when the depth of oil and gas reservoir increases from 200 to 1 500 m.If resistivity ratio of oil and gas reservoir to sur-rounding rock decreases from 100 to 10 for the resistive oil and gas reservoir,the amplitude attenuation of deviation rate nearly reaches 8%.When there exists stratum above oil and gas reservoir,and influence of resistive stratum may be eliminated or weakened and anomaly of oil and gas reservoir can be strengthened.
基金support from Ministry of Science and Technology,Taiwan,R.O.C.under Grant No.MOST 109-2410-H-011-021-MY3.
文摘A novel indicator called price-citation was proposed.Based on the company integrated patent database of China listed companies of common stocks(A-shares)with the stock price and the stock return rate data,more than two thousand of A-shares from 2017 to 2020 were selected.The effect of the traditional patent forward citation and the price-citation for discriminating the stock return rate was thoroughly analyzed via ANOVA.The A-shares of forward citation counts above the average showed higher stock return rate means than the A-shares having patents but receiving no forward citations.The price-citation,combining both the financial and patent attributes,defined as the multiplication of the current stock price and the currently receiving forward citation count,showed its excellence in discriminating the stock return rate.The A-shares of higher price-citation showed significantly higher stock return rate means while the A-shares of lower price-citation showed significantly lowest stock return rate means.The price-citation effect had not been changed by COVID-19 though COVID-19 affected the social and economic environment to a considerable extent in 2020.
基金Sponsored by the National Natural Science Foundation of China(Grant Nos.11362019 and 11562018)
文摘To improve the utilization efficiency of water the laying length of porous tubes was analyzed. Considering long porous tubes the irrigation uniformity of porous tubes was studied by analyzing the deviation rate of the working head of porous tubes and through an impact analysis of the deviation ratio of flow rate based on laying length slope pressure head and perforation spacing. Results showed that the deviation ratio of the flow rate could be reduced by decreasing the length of tubes and increasing the slope. The deviation ratio of flow rate was less influenced by pressure head and perforation spacing. A best laid slope resulted in a longer laying length of the porous tubes and they were not constant.
文摘Based on the valid patent data and stock price data of China A-shares,the patent effects of four patent species including the invention publication,the invention grant,the utility model grant,and the design grant,on the stock price and the stock return rate were analyzed via analysis of variance(ANOVA).It was proved that the A-shares having new patents of any patent species shown the higher stock price mean and the higher stock return rate mean than those A-shares having no new patents did.The A-shares having new design grants were found to show the highest stock price mean among the A-shares having new patents of any patent species.The A-shares in the group of top 25%patent count of either the invention publication or the invention grant shown the highest stock return rates mean than those A-shares in other groups of less patent count did.The invention grant,following the general concept,showed its excellent patent effect.The design grant,beyond the expectation,also showed patent effects on the higher stock price and the higher stock return rate.The finding would improve the state of the art in the patent valuation and the listing company evaluation.
文摘The distribution performance of the gravity-type liquid distributor(GTLD) significantly affects column operation efficiency and the consequent product quality. In industrial settings, maldistribution is normally considered to be caused by vertical positional or coplanarity errors stemming from deflections associated with manufacture and installation, or even by excessive weight. The lack ofestimation protocols or standards impedes the description ofthis error, which influences the corresponding outflow rates. Given this situation, the paper proposes a lumped parameter, orifice position deviation(OPD), to facilitate the calculation of the relative discharge rate error(RDRE)based on a formula derivation, which allows the systematic analysis of the influence ofa single orifice or weir OPD.The paper introduces a sensitivity factor K as a concise and unified expression in theoretical RDREs for calibrating the influence of OPD on the RDREs ofgeometrically different orifices and weirs. With respect to the GTLD, a larger K indicates the need for more strict OPD requirements. The paper verifies that the extent of GTLD outflow nonuniformity is associated with diverging tendencies regarding its morphology, especially in the orifice and weir, which can be determined using our proposed procedures.
基金supported in part by Basic Science Research Program through the National Research Foundation of Korea(NRF)funded by the Ministry of Education(NRF-2021R1A6A1A03039493)by the NRF grant funded by the Korea government(MSIT)(NRF-2022R1A2C1004401).
文摘In recent times,financial globalization has drastically increased in different ways to improve the quality of services with advanced resources.The successful applications of bitcoin Blockchain(BC)techniques enable the stockholders to worry about the return and risk of financial products.The stockholders focused on the prediction of return rate and risk rate of financial products.Therefore,an automatic return rate bitcoin prediction model becomes essential for BC financial products.The newly designed machine learning(ML)and deep learning(DL)approaches pave the way for return rate predictive method.This study introduces a novel Jellyfish search optimization based extreme learning machine with autoencoder(JSO-ELMAE)for return rate prediction of BC financial products.The presented JSO-ELMAE model designs a new ELMAE model for predicting the return rate of financial products.Besides,the JSO algorithm is exploited to tune the parameters related to the ELMAE model which in turn boosts the classification results.The application of JSO technique assists in optimal parameter adjustment of the ELMAE model to predict the bitcoin return rates.The experimental validation of the JSO-ELMAE model was executed and the outcomes are inspected in many aspects.The experimental values demonstrated the enhanced performance of the JSO-ELMAE model over recent state of art approaches with minimal RMSE of 0.1562.
文摘This work focuses on the optimization of investment contributions of pension asset with a view to improving contributors’ participation in achieving better return on investment (RoI) of their funds. We viewed some new regulations on Nigeria’s Contributory Pension Scheme” (CPS) from amended legislation of 2014, some of which are yet to be implemented when their regulations are approved. A mathematical model involving 5 variables, 5 inequality constraints covering regulatory limitations and limitation on scarce resource known as Asset Under Management (AUM), suggested and mathematically shown to be possible through “maximization of return irrespective of risk” while obeying all regulatory controls as our constraints optimized. Optimized portfolio using MatLab shows that the portfolio representing AES 2013 portfolio with a deficit growth of 15.75 m representing 3.27% less than the portfolio’s full growth potential within defined assumptions would have been averted if contributors actually set their targets and investment managers optimize from forecasts of future prices using trend analysis.
文摘Shanghai-Hong Kong Stock Connect Program,which is a new starting point for the opening up of the mainland capital market,still has many uncertainties.Research on the benefits and market volatility of such policies can provide investors with time to invest in such policies,fluctuations in the underlying stocks of the Chinese stock market,and decision support for the formulation and revision of relevant policies.This paper studies whether there is significant abnormal rate of return in the selected stocks which are in the Shanghai Stock Connect Program within the specified period,the excess return gap between the stocks which are in the program and which are not in the program,and the impact of the Shanghai Stock Connect Program on the volatility of the relevant stocks.Based on the CAPM model and the Fama-French 3-factor model,this paper uses t test to study the significance of the abnormal rate of return.By establishing a difference-in-difference(DID)model,the regression of the abnormal rate of return is tested,and the sample volatility is analyzed according to the influence of the fund transaction.The study found that the stocks in the program have significant abnormal rate of returns during the window period.The Shanghai Stock Connect has brought about a huge change in transaction amount,and policy makers need to improve related and similar policies.
文摘AIM To systemically review all studies reporting return to sport following tibial plateau fracture, in order to provide information on return rates and times to sport, and to assess variations in sporting outcome for different treatment methods.METHODS A systematic search of CINAHAL, Cochrane, EMBASE, Google Scholar, MEDLINE, PEDro, Scopus, SPORTDiscus and Web of Science was performed in January 2017 using the keywords "tibial", "plateau", "fractures", "knee", "athletes", "sports", "non-operative", "conservative", "operative", "return to sport". All studies which recorded return rates and times to sport following tibial plateau fractures were included. RESULTS Twenty-seven studies were included: 1 was a randomised controlled trial, 7 were prospective cohort studies, 16 were retrospective cohort studies, 3 were case series. One study reported on the outcome of conservative management(n = 3); 27 reported on the outcome of surgical management(n = 917). Nine studies reported on Open Reduction Internal Fixation(ORIF)(n = 193), 11 on Arthroscopic-Assisted Reduction Internal Fixation(ARIF)(n = 253) and 7 on Frame-Assisted Fixation(FRAME)(n = 262). All studies recorded "return to sport"rates. Only one study recorded a "return to sport" time. The return rate to sport for the total cohort was 70%. For the conservatively-managed fractures, the return rate was 100%. For the surgically-managed fractures, the return rate was 70%. For fractures managed with ORIF, the return rate was 60%. For fractures managed with ARIF, the return rate was 83%. For fractures managed with FRAME was 52%. The return rate for ARIF was found to be significantly greater than that for ORIF(OR 3.22, 95%CI: 2.09-4.97, P < 0.001) and for FRAME(OR 4.33, 95%CI: 2.89-6.50, P < 0.001). No difference was found between the return rates for ORIF and FRAME(OR 1.35, 95%CI: 0.92-1.96, P = 0.122). The recorded return time was 6.9 mo(median), from a study reporting on ORIF.CONCLUSION Return rates to sport for tibial plateau fractures remain limited compared to other fractures. ARIF provides the best return rates. There is limited data regarding return times to sport. Further research is required to determine return times to sport, and to improve return rates to sport, through treatment and rehabilitation optimisation.
文摘By calculating the hourly standard deviation of the first-order differences of the horizontal geomagnetic com- ponent minute data, a new index Vr to represent the variation rate of the geomagnetic field was introduced. Vr-indices show similar trends in the temporal change at different observatories and have simultaneous peak values at the observatories cov- ering a large span geographically, which reveals that the source of geomagnetic disturbances represented by Vr is in the mag- netosphere. Based on the comparison among Vr, Kp and ap, it is found that generally Vr changes linearly with Kp and ap, which means that the rapid changes of magnetic field usually exist together with magnetic disturbances. But there are excep- tions. As Vr can be easily produced by individual observatory in quasi real time and is more sensitive to the variation rate of geomagnetic field rather than the field itself, it can be expected to serve for monitoring or predicting the geomagnetic-induced event in a quick and intuitive way.
文摘BACKGROUND Scaphoid fracture is the most commonly fractured carpal bone in the athletic patient, accounting for over 85% of all sport-related carpal bone fractures, and is particularly common in sports involving high impact injuries to the wrist. The management of such injuries comprises both conservative and surgical techniques, as guided by fracture location and type. Athletes demonstrate a unique challenge with regards to the management of scaphoid fractures due to their requirement to return to sport, as soon as able.AIM To review systemically all studies recording return to sport following scaphoid fractures, to collate information on return rates to sport(RRS) and mean return times(RTS) to sport and to determine differences in sporting outcome for the various treatment methods.METHODS A systematic search of MEDLINE, EMBASE, CINAHAL, Cochrane, Google Scholar, Physiotherapy Evidence Database, SPORTDiscus, Web of Science and Scopus was performed in August 2018 using the keywords "scaphoid","fracture", "acute", "carpal", "athletes", "sports", "non-operative","conservative", "operative" and "return to sport". All studies that recorded RRS and RTS following scaphoid fractures were included. RTS was recorded as the length of time from commencement of either primary conservative management or primary surgical procedure to return to sport.RESULTS Eleven studies were included: Two randomised controlled trials, six retrospective cohort studies and three case series. Seven studies reported on conservative management(n = 77), and eight studies reported on surgical management(n =83). For conservative management, RRS was 90%(69/77), and the mean RTS was9.6 wk. Three studies allowed to return to sport in cast [RRS 89%(25/28); RTS 1.9 wk], and four studies required completion of cast treatment prior to returning to sport [RRS 90%(44/49); RTS 13.9 wk]. Four studies recorded fracture union data:Union rate 85%(47/55); mean time to union 14.0 wk. For surgical management,RRS was 98%(81/83), and RTS was 7.3 wk. Three studies reported on Percutaneous Screw Fixation [RRS 97%(32/33); RTS 6.5 wk], and five studies reported on Open Reduction Internal Fixation [RRS 98%(49/50); RTS 7.9 wk]. Six studies recorded fracture union data: Union rate 97%(69/71); mean time to union9.8 wk. On meta-analysis, RRS(RR = 1.09; 95% confidence interval(CI): 1.00-1.18;P < 0.045), RTS(MD 2.3 wk; 95%CI: 0.79-3.87; P < 0.002), union rates(RR = 1.14;95%CI: 1.01-1.28; P < 0.030) and mean times to union(MD 4.2 wk; 95%CI: 3.94-4.36; P < 0.001) were all significantly better for the surgical cohort compared to the conservative cohort.CONCLUSION Surgical management of scaphoid fractures can provide significantly improved RRS and RTS to sport compared to conservative management. Both treatments,however, remain acceptable options, and athletes should be fully informed of the benefits and risks of both prior to deciding treatment plans. Immediate return to sport in a cast should be avoided due to the significant risk of non-union.
基金financially supported by the National Basic Research Program of China (973 Program, 2013CB127404)the Collaborative Innovation Action of Scientific and Technological Innovation Project of the Chinese Academy of Agricultural
文摘Black soil is one of the most precious soil resources on earth because it has abundant carbon stocks and a relatively high production capacity. However, decreasing organic matter after land reclamation, and the effects of long-term inputs of organic carbon have made it less fertile black soil in Northeast China. Straw return could be an effective method for improving soil organic carbon(SOC) sequestration in black soils. The objective of this study was to evaluate whether straw return effectively increases SOC sequestration. Long-term field experiments were conducted at three sites in Northeast China with varying latitudes and SOC densities. Study plots were subjected to three treatments: no fertilization(CK); inorganic fertilization(NPK); and NPK plus straw return(NPKS). The results showed that the SOC stocks resulting from NPKS treatment were 4.0 and 5.7% higher than those from NPK treatment at two sites, but straw return did not significantly affect the SOC stocks at the third site. Furthermore, at higher SOC densities, the NPKS treatment resulted in significantly higher soil carbon sequestration rates(CSR) than the NPK treatment. The equilibrium value of the CSR for the NPKS treatment equated to cultivation times of 17, 11, and 8 years at the different sites. Straw return did not significantly increase the SOC stocks in regions with low SOC densities, but did enhance the C pool in regions with high SOC densities. These results show that there is strong regional variation in the effects of straw return on the SOC stocks in black soil in Northeast China. Additional cultivations and fertilization practices should be used when straw return is considered as an approach for the long-term improvement of the soil organic carbon pool.
基金Supported by the Science Fund of Jiangsu Province(No.BY2015039-10)the Fund of Jiangsu Province Collaborative Center of Regional Modern Agriculture&Environmental Protection(No.HSXT219)the Science Fund of Changshu Science and Technology Bureau,China(No.CN201408)
文摘The objectives of the present study were to evaluate the yolk-sac and oil globule absorption and point of no return (PNR) ofpikeperch (Sander lucioperca L.) larvae. Artificial propagation ofpikeperch was performed at (15±2)℃. Yolk-sac absorption, oil globule absorption, larval growth and the first initial feeding rate were observed to analyze the early growth and to determine the PNR of pikeperch larvae. The total length of newly hatched (0 day after hatching, DAH) pikeperch larvae was (4.25±0.22) mm and the volume of the yolk-sac and the oil globule was (0.30±0.12)mm^3 and (5.14±2.28) 10-2 mm^3 respectively. The yolk-sac and the oil globule were exhausted at 11 DAH and 14 DAH, respectively. Pikeperch larvae began feeding at 8 DAH with an initial feeding rate about 10.0%. From 9 to 14 DAH, the initial feeding rate increased rapidly, and reached its highest (about 82.7%) at 14 DAH. It declined thereafter, 48.9% at 15 DAH and 35.6% at 16 DAH, thus the pikeperch larvae reached PNR by 15-16 DAH. The appropriate first feeding time for the pikeperch larvae is 11-12 DAH, when the initial feeding rate is higher than half of the maximum initial feeding rate.
基金supported by the Program for Guangdong Introducing Innovative and Enterpreneurial Teams(No.2019ZT08G315)National Natural Science Foundation of China No.51827901 and U2013603
文摘In situ pressure-preserved coring(IPP-Coring)technology is considered one of the most efficient methods for assessing resources.However,seal failure caused by the rotation of pressure controllers greatly affects the success of pressure coring.In this paper,a novel spherical-cylindrical shell pressure controller was proposed.The finite element analysis model was used to analyze the stress distribution and deformation characteristics of the pressure controller at different rotation angles.The seal failure mechanism caused by the rotation of the pressure controller was discussed.The stress deviation rate was defined to quantitatively characterize the stress concentration.Based on the test equipment designed in this laboratory,the ultimate bearing strength of the pressure controller was tested.The results show that the rotation of the valve cover causes an increase in the deformation on its lower side.Furthermore,the specific sealing pressure in the weak zone is greatly reduced by a statistically significant amount,resulting in seal failure.When the valve cover rotates 5°around the major axis,the stress deviation rate is-92.6%.To prevent rotating failure of the pressure controller,it is necessary to control the rotation angle of the valve cover within 1°around the major axis.The results of this research can help engineers reduce failure-related accidents,provide countermeasures for pressure coring,and contribute to the exploration and evaluation of deep oil and gas resources.
文摘Field trials were conducted to determine the economically optimum fertilizer rates for soybean production and for optimizing net profits in Dedza, Lilongwe and Salima Districts of Malawi. The effects of PK fertilizer rates on rain use efficiency (RUE), harvest index, agronomic use efficiency of phosphorous (AEP) and potassium (AEK), and value cost ratio (VCR) were evaluated. The applied diagnostic PK fertilizer rates significantly improved soybean grain yields, harvest index, rainwater use efficiency, AEP, AEK and returns to fertilizer use expressed as value cost ratio (VCR). However, the results differed significantly
基金Project supported by National Natural Science Foundation of China (Grant Nos. 10471088, 60572126)
文摘A model was proposed for addressing investment risk of the flee reserve in the form of credit or currency risk. This risk was expressed by a constant amount K ( e. g., securitization) upon an interest-increasing event and a random variable Z representing the recovery rate of a bond or a devaluation factor. The model equation is an integro-differential equation with deviating arguments. The analytical solutions were obtained for the probability of survival as Z is a discrete random variable and as Z is a continuous random variable respectively.
基金Project supported by the National Natural Science Foundation of China(Grant No.61107066)the College Natural Science Foundation of Anhui Province,China(Grant No.KJ2013B331)
文摘The number of return photons from sodium laser beacon(SLB) greatly suffers down-pumping, recoil, and geomagnetic field when the long pulse laser with circular polarization interacts with sodium atoms in the mesosphere. Considering recoil and down-pumping effects on the number of return photons from SLB, the spontaneous radiation rates are obtained by numerical computations and fittings. Furthermore, combining with the geomagnetic field effects, a new expression is achieved for calculating the number of return photons. By using this expression and considering the stochastic distribution of laser intensity in the mesosphere under different turbulence models for atmosphere, the number of return photons excited by the narrow-band single mode laser and that by the narrow-band three-mode laser are respectively calculated. The results show that the narrow-band three-mode laser with a specific spectrum structure has a higher spontaneous radiation rate and more return photons than a narrow-band single mode laser. Of note, the effect of the atmospheric turbulence on the number of return photons is remarkable. Calculation results indicate that the number of return photons under the HV5/7 model for atmospheric turbulence is much higher than that under the Greenwood and Mod HV models.
文摘BACKGROUND Evidence-based guidance on return to sport following toe phalanx fractures is limited.AIM To systemically review all studies recording return to sport following toe phalanx fractures(both acute fractures and stress fractures),and to collate information on return rates to sport(RRS)and mean return times(RTS)to the sport.METHODS A systematic search of PubMed,MEDLINE,EMBASE,CINAHL,Cochrane Library,Physiotherapy Evidence Database,and Google Scholar was performed in December 2022 using the keywords‘Toe’,‘Phalanx’,‘Fracture’,‘injury’,‘athletes’,‘sports’,‘non-operative’,‘conservative’,‘operative’,‘return to sport’.All studies which recorded RRS and RTS following toe phalanx fractures were included.RESULTS Thirteen studies were included:one retrospective cohort study and twelve case series.Seven studies reported on acute fractures.Six studies reported on stress fractures.For the acute fractures(n=156),63 were treated with primary conservative management(PCM),6 with primary surgical management(PSM)(all displaced intra-articular(physeal)fractures of the great toe base of the proximal phalanx),1 with secondary surgical management(SSM)and 87 did not specify treatment modality.For the stress fractures(n=26),23 were treated with PCM,3 with PSM,and 6 with SSM.For acute fractures,RRS with PCM ranged from 0 to 100%,and RTS with PCM ranged from 1.2 to 24 wk.For acute fractures,RRS with PSM were all 100%,and RTS with PSM ranged from 12 to 24 wk.One case of an undisplaced intra-articular(physeal)fracture treated conservatively required conversion to SSM on refracture with a return to sport.For stress fractures,RRS with PCM ranged from 0%to 100%,and RTS with PCM ranged from 5 to 10 wk.For stress fractures,RRS with PSM were all 100%,and RTS with surgical management ranged from 10 to 16 wk.Six cases of conservatively-managed stress fractures required conversion to SSM.Two of these cases were associated with a prolonged delay to diagnosis(1 year,2 years)and four cases with an underlying deformity[hallux valgus(n=3),claw toe(n=1)].All six cases returned to the sport after SSM.CONCLUSION The majority of sport-related toe phalanx fractures(acute and stress)are managed conservatively with overall satisfactory RRS and RTS.For acute fractures,surgical management is indicated for displaced,intra-articular(physeal)fractures,which offers satisfactory RRS and RTS.For stress fractures,surgical management is indicated for cases with delayed diagnosis and established nonunion at presentation,or with significant underlying deformity:both can expect satisfactory RRS and RTS.
文摘The emphasis of this study is on the practice of the Pooled Mean Group (PMG) estimators to investigate the magnitude of macroeconomic performances: Real Gross Domestic Product (RGDP), Foreign Exchange Rate (EX), and Deposit Interest Rate (DINT) affecting on the rate of financial sector returns in Southeast Asian Stock Markets including Stock Exchange Of Thailand (SET) index (Thailand), the Kuala Lumpur Composite Index (KLSE) index (Malaysia), Financial Times Share Index (FTSI) (Singapore), Philippine Stock Exchange (PSE), and the Jakarta Composite Index (JKSE) (Indonesia). The Panel Autoregressive Distributed Lag (Panel ARDL) is applied to model the relations. The study applies the Levin, Lin, and Chu (LLC) test (2002) and Im, Pesaran, and Shin (IPS) test (2003) to investigates a set of time series data to examine whether the determinants and the rate of financial sector returns contain a unit root, the next step is investigated the cointegration and causality relationship of the determinants of financial sector influencing on long-run rate of returns of financial sector in Southeast Asian Stock Markets.
文摘As an important part of the pharmaceutical industry, the pharmaceutical manufacturing industry is always at the battlefield of the international public health and health industry. At the same time, as a basic and strategic sub-industry in China's manufacturing industry, the medical manufacturing industry closely related to people’s livelihood which is not only related to social Responsibility but also plays a key role in China's economy today. For the Chinese people, the new medical reforms and the irreversible aging of the population have increased the nation’s total expenditure on health care. From January to October 2017, the pharmaceutical industry’s main business income was RMB 2,410.29 billion, a year-on-year increase of 13.10%. This is a 4.50 percentage point higher than the 10.30% growth rate in 2016. However, even if the circumstance of this industry is getting better, high growth also has a drag on the national health insurance system and the standard of living of the people. This article chooses to analyze the financial and operating-level factors of China's pharmaceutical manufacturing listed companies such as Inventory turnover rate and operating rate. Study the impact on the performance of China's pharmaceutical manufacturing listed companies. The results of the study will fill gaps in the research of this industry and help pharmaceutical manufacturing listed companies choose the right capital size, liabilities, and expansion strategies, and more effectively absorb the current development dividends of China’s “four new economy”, and use them rationally and effectively. Markets and complex and limited capital and resources of enterprises, as China's industry benchmarks continue to guide the rapid growth of the market. on the other hand, to help investor the empirical point of view better choice of investment targets. This paper uses data from 2007-2016 for randomly selecting 19 companies from 118 medical manufacturing listed companies classified by China Securities Regulatory Commission. After dealing with panel data, multiple inspections are performed on panel data. To avoid the deviation from the actual level of the regression results, the panel-corrected standard deviation model was used to derive the relationship between the operating-level factors of pharmaceutical manufacturing listed companies and their performance. The results of the study indicate that there is a positive correlation between Inventory turnover rate, operating rate and performance, which fills the domestic empirical research on this issue. This area of industry company performance is blank.