The existing research of supply coordination under uncertain delivery time mainly focuses on the collaboration between the supplier and the manufacturer, which aim at minimizing the total cost of each side and finding...The existing research of supply coordination under uncertain delivery time mainly focuses on the collaboration between the supplier and the manufacturer, which aim at minimizing the total cost of each side and finding comparative optimal solutions under decentralized decision. In the supply coordination, the collaboration between suppliers in assembly system is usually not considered. As a result, the manufacturer’s production is often delayed due to mismatching delivery of components between suppliers. Therefore, to ensure supply coordination in assembly system, collaboration between suppliers should be taken into consideration. In this paper, an assembly system with two suppliers and one manufacturer under uncertain delivery time is considered. The model is established and optimal solution is given under decentralized decision. Furthermore, the cost functions of two suppliers are both convex, and a unique Nash equilibrium exists between two suppliers. Then the optimal decision under supply coordination is analyzed, which is regarded as a benchmark for supply coordination. Additionally, the total cost of the assembly system is jointly convex in agreed delivery time. To achieve supply coordination a bonus policy is explored in the assembly system under uncertain delivery time, and the total cost under bonus policy must be lower than under decentralized decision. Finally the numerical and sensitivity analysis shows the cost of assembly system under bonus policy equals that under supply coordination, and the cost of each side in assembly system under bonus policy is lower compared to that under decentralized decision. The proposed research minimizes the total cost of each side with bonus policy in assembly system, ensures the supply coordination between suppliers and the manufacturer, and improves the competiveness of the whole supply chain.展开更多
'This year we will put more efforts in to tax cuts and fee reductions, to lower the VAT rate and contribution rate for basic retirement insurance. The surplus will amount to RMB 2 trillion,'Premier Li Keqiang ...'This year we will put more efforts in to tax cuts and fee reductions, to lower the VAT rate and contribution rate for basic retirement insurance. The surplus will amount to RMB 2 trillion,'Premier Li Keqiang said at the press conference during the Two Sessions.He also commented that all types of enterprises will benefit from the tax cuts and fee reductions policies and it will have a very high efficiency as the benefits will be delivered directly to market entities. The VAT cuts took effect from April 1 and pension insurance rate will be lower starting from May 1.展开更多
Editorial note Scholars around the world are voicing their criticisms on China’s family planning policy,which,in their opinions,will lead to an unhealthy population structure.This article reviews the concepts of"...Editorial note Scholars around the world are voicing their criticisms on China’s family planning policy,which,in their opinions,will lead to an unhealthy population structure.This article reviews the concepts of"rich before old"and"negative demographic bonus",and concludes that with regards to some indicators such as dependency ratio and demographic bonus,there exists a discrepancy between calculations and reality.The author believes that China will continue to witness a surge of demographic bonus in the future.展开更多
Bonus announcement is often seen as a profitable strategy for intra-day trading;to know how useful it can be for position(long-term)investors this study is conducted.30 companies were chosen randomly and a two-tail t-...Bonus announcement is often seen as a profitable strategy for intra-day trading;to know how useful it can be for position(long-term)investors this study is conducted.30 companies were chosen randomly and a two-tail t-test is conducted.Considering the p-value of each company at 5%level of significance we found out the number of companies which have given positive numbers for position investors.A generalization method has also been used to see the overall applicability of the study.Reflecting individual companies fewer number showed positive results after a period of 30 days but using the generalization technique the study proved to be significant.There are certain limitations to the study as well including non-consideration of any other event which might have taken place,bearing in mind only NSE and BSE and also it includes companies which have made an announcement in the past three years.展开更多
Gaokao has been considered as the gatekeeper of intergenerational class reproduction in today’s slowing social mobility in China.In order to bolster the fairness of Gaokao,the Policy of Bonus Scores for Ethnic Minori...Gaokao has been considered as the gatekeeper of intergenerational class reproduction in today’s slowing social mobility in China.In order to bolster the fairness of Gaokao,the Policy of Bonus Scores for Ethnic Minority Candidates(PBSEMC)has been issued,whose,however,effectiveness in promoting upward social class has not been adequately empirically explored.The difference-in-differences(DID)analysis based on cross-sectional data,which is distinct from the traditional DID analysis paradigm,was implemented to assess the Reform of PBSEMC in the Guangxi Zhuang Autonomous Region in 1988.The results showed that PBSEMC had a significant and positive impact on the social classes of ethnic minorities,and gender,residence type and occupation type were also relevant to social class,aligning with the previous literature.The PBSEMC is effective in improving the social classes of ethnic minorities.However,the PBSEMC policy should be made more precise,in order to benefit the candidates who are in genuine need of assistance.展开更多
Decomposing growth rate of total factor productivity(TFP)into internal growth effect and the effect of factor reallocation formed by the flow of capital,labor and energy between sectors,we took 23 subsectors as the re...Decomposing growth rate of total factor productivity(TFP)into internal growth effect and the effect of factor reallocation formed by the flow of capital,labor and energy between sectors,we took 23 subsectors as the research object and adopted the multi-sector growth accounting framework(MSGAF)to verify the‘structural bonus hypothesis’from 2005 to 2017.The study drew the following conclusions:First,internal growth effect represented by sectoral technology progress was still the main contributor to TFP growth of the overall economy,but the contribution rate had decreased.Second,the reallocation effect of capital changed from structural burden to structural bonus.Third,the reallocation effect of labor showed a trend of first rising and then falling,changing from structural bonus to structural burden.Forth,the effect of energy reallocation was gradually emerging,with a shift from structural burden to structural bonus.Based on these research results,we argue that more attention should be paid to the efficiency of factor reallocation in addition to the technology progress.The inefficiency of factor reallocation caused by imperfect market and asymmetric information would partially offset the effect of technology progress and hinder the high-quality economic development.In view of the reallocation of capital,labor and energy,we propose the following suggestions:For capital,macro-control and market mechanism should be comprehensively accounted for.Further,capital must be allocated per the principle of profit maximization to ensure that its elasticity and allocation efficiency will be improved.The reallocation of labor should not only be limited to the 3-sector level.More attention should be paid to the marginal output differences within the secondary sector.For energy,attention should be paid to the elasticity of energy output between sectors to avoid inefficient allocation.It is also necessary to accelerate the phase-out of industries with high energy consumption and high pollution,promote the development of low energy industries to encourage‘energy conservation and emission reduction’as well as‘green development’by increasing the effect of energy reallocation.展开更多
Issues are arising regarding the large amount of money provided to top executives in many compames tor Uaetr bonuses and incentives. These huge amounts for executive compensation are being questioned in comparison to ...Issues are arising regarding the large amount of money provided to top executives in many compames tor Uaetr bonuses and incentives. These huge amounts for executive compensation are being questioned in comparison to the dividends received by stockholders. Four companies are analyzed： Citigroup, Starbucks, General Electric （GE）, and Kraft Foods. Present issues faced by Citigroup show that the company＇s provision in their executive compensation is not acceptable, On the other hand, Starbucks, GE, and Kraft Foods are the companies that follow legal rules provided by the Securities and Exchange Commission （SEC） in providing compensations to executives. Thus, they are good exemplars to other companies.展开更多
In today’s environment,where SME’s financing continues to be a serious problem,systems that facilitate non-bank financing models different from traditional ones should be considered.In the present article a model of...In today’s environment,where SME’s financing continues to be a serious problem,systems that facilitate non-bank financing models different from traditional ones should be considered.In the present article a model of financing based on bonds for SME’s is proposed,very suitable for the agricultural sector or any group with little access to traditional financing.To improve the analysis,a fuzzy logic system is proposed that allows the most representative variables to be properly selected and take into account the uncertainty of the environment and the subjectivity of the analysts.展开更多
The year 2016 is the year of change for China’s new energy vehicles industry,and also the key year in which the industry walks into the growth period from a lead-in period.The opportunities were obvious,and challenge...The year 2016 is the year of change for China’s new energy vehicles industry,and also the key year in which the industry walks into the growth period from a lead-in period.The opportunities were obvious,and challenges extremely difficult to meet.On one hand,many lithium battery enterprises suffered from a long account period,slowly returned money or展开更多
It is challenging to forecast foreign exchange rates due to the non-linear characters of the data. This paper applied a wavelet-based Elman neural network with the modified differential evolution algorithm to forecast...It is challenging to forecast foreign exchange rates due to the non-linear characters of the data. This paper applied a wavelet-based Elman neural network with the modified differential evolution algorithm to forecast foreign exchange rates. Elman neural network has dynamic characters because of the context layer in the structure. It makes Elman neural network suit for time series problems. The main factors, which affect the accuracy of the Elman neural network, included the transfer functions of the hidden layer and the parameters of the neural network. We applied the wavelet function to replace the sigmoid function in the hidden layer of the Elman neural network, and we found there was a "disruption problem" caused by the non-linear performance of the wavelet function. It didn’t improve the performance of the Elman neural network, but made it get worse in reverse. Then, the modified differential evolution algorithm was applied to train the parameters of the Elman neural network. To improve the optimizing performance of the differential evolution algorithm, the crossover probability and crossover factor were modified with adaptive strategies, and the local enhanced operator was added to the algorithm. According to the experiment, the modified algorithm improved the performance of the Elman neural network, and it solved the "disruption problem" of applying the wavelet function.These results show that the performance of the Elman neural network would be improved if both of the wavelet function and the modified differential evolution algorithm were applied integratedly.展开更多
基金supported by National Natural Science Foundation of China(Grant No. 71102174)Beijing Municipal Natural Science Foundation of China(Grant Nos. 9123028, 9102016)+3 种基金Specialized Research Fund for Doctoral Program of Higher Education of China(Grant No. 20111101120019)Beijing Municipal Philosophy and Social Science Foundation of China(Grant No. 11JGC106)Program for New Century Excellent Talents in University of China(Grant Nos. NCET-10-0048,NCET-10-0043)Excellent Young Teacher in Beijing Institute of Technology of China(Grant No. 2010YC1307)
文摘The existing research of supply coordination under uncertain delivery time mainly focuses on the collaboration between the supplier and the manufacturer, which aim at minimizing the total cost of each side and finding comparative optimal solutions under decentralized decision. In the supply coordination, the collaboration between suppliers in assembly system is usually not considered. As a result, the manufacturer’s production is often delayed due to mismatching delivery of components between suppliers. Therefore, to ensure supply coordination in assembly system, collaboration between suppliers should be taken into consideration. In this paper, an assembly system with two suppliers and one manufacturer under uncertain delivery time is considered. The model is established and optimal solution is given under decentralized decision. Furthermore, the cost functions of two suppliers are both convex, and a unique Nash equilibrium exists between two suppliers. Then the optimal decision under supply coordination is analyzed, which is regarded as a benchmark for supply coordination. Additionally, the total cost of the assembly system is jointly convex in agreed delivery time. To achieve supply coordination a bonus policy is explored in the assembly system under uncertain delivery time, and the total cost under bonus policy must be lower than under decentralized decision. Finally the numerical and sensitivity analysis shows the cost of assembly system under bonus policy equals that under supply coordination, and the cost of each side in assembly system under bonus policy is lower compared to that under decentralized decision. The proposed research minimizes the total cost of each side with bonus policy in assembly system, ensures the supply coordination between suppliers and the manufacturer, and improves the competiveness of the whole supply chain.
文摘'This year we will put more efforts in to tax cuts and fee reductions, to lower the VAT rate and contribution rate for basic retirement insurance. The surplus will amount to RMB 2 trillion,'Premier Li Keqiang said at the press conference during the Two Sessions.He also commented that all types of enterprises will benefit from the tax cuts and fee reductions policies and it will have a very high efficiency as the benefits will be delivered directly to market entities. The VAT cuts took effect from April 1 and pension insurance rate will be lower starting from May 1.
文摘Editorial note Scholars around the world are voicing their criticisms on China’s family planning policy,which,in their opinions,will lead to an unhealthy population structure.This article reviews the concepts of"rich before old"and"negative demographic bonus",and concludes that with regards to some indicators such as dependency ratio and demographic bonus,there exists a discrepancy between calculations and reality.The author believes that China will continue to witness a surge of demographic bonus in the future.
文摘Bonus announcement is often seen as a profitable strategy for intra-day trading;to know how useful it can be for position(long-term)investors this study is conducted.30 companies were chosen randomly and a two-tail t-test is conducted.Considering the p-value of each company at 5%level of significance we found out the number of companies which have given positive numbers for position investors.A generalization method has also been used to see the overall applicability of the study.Reflecting individual companies fewer number showed positive results after a period of 30 days but using the generalization technique the study proved to be significant.There are certain limitations to the study as well including non-consideration of any other event which might have taken place,bearing in mind only NSE and BSE and also it includes companies which have made an announcement in the past three years.
基金supported by National Social Science Foundation(21BZZ021).
文摘Gaokao has been considered as the gatekeeper of intergenerational class reproduction in today’s slowing social mobility in China.In order to bolster the fairness of Gaokao,the Policy of Bonus Scores for Ethnic Minority Candidates(PBSEMC)has been issued,whose,however,effectiveness in promoting upward social class has not been adequately empirically explored.The difference-in-differences(DID)analysis based on cross-sectional data,which is distinct from the traditional DID analysis paradigm,was implemented to assess the Reform of PBSEMC in the Guangxi Zhuang Autonomous Region in 1988.The results showed that PBSEMC had a significant and positive impact on the social classes of ethnic minorities,and gender,residence type and occupation type were also relevant to social class,aligning with the previous literature.The PBSEMC is effective in improving the social classes of ethnic minorities.However,the PBSEMC policy should be made more precise,in order to benefit the candidates who are in genuine need of assistance.
文摘Decomposing growth rate of total factor productivity(TFP)into internal growth effect and the effect of factor reallocation formed by the flow of capital,labor and energy between sectors,we took 23 subsectors as the research object and adopted the multi-sector growth accounting framework(MSGAF)to verify the‘structural bonus hypothesis’from 2005 to 2017.The study drew the following conclusions:First,internal growth effect represented by sectoral technology progress was still the main contributor to TFP growth of the overall economy,but the contribution rate had decreased.Second,the reallocation effect of capital changed from structural burden to structural bonus.Third,the reallocation effect of labor showed a trend of first rising and then falling,changing from structural bonus to structural burden.Forth,the effect of energy reallocation was gradually emerging,with a shift from structural burden to structural bonus.Based on these research results,we argue that more attention should be paid to the efficiency of factor reallocation in addition to the technology progress.The inefficiency of factor reallocation caused by imperfect market and asymmetric information would partially offset the effect of technology progress and hinder the high-quality economic development.In view of the reallocation of capital,labor and energy,we propose the following suggestions:For capital,macro-control and market mechanism should be comprehensively accounted for.Further,capital must be allocated per the principle of profit maximization to ensure that its elasticity and allocation efficiency will be improved.The reallocation of labor should not only be limited to the 3-sector level.More attention should be paid to the marginal output differences within the secondary sector.For energy,attention should be paid to the elasticity of energy output between sectors to avoid inefficient allocation.It is also necessary to accelerate the phase-out of industries with high energy consumption and high pollution,promote the development of low energy industries to encourage‘energy conservation and emission reduction’as well as‘green development’by increasing the effect of energy reallocation.
文摘Issues are arising regarding the large amount of money provided to top executives in many compames tor Uaetr bonuses and incentives. These huge amounts for executive compensation are being questioned in comparison to the dividends received by stockholders. Four companies are analyzed： Citigroup, Starbucks, General Electric （GE）, and Kraft Foods. Present issues faced by Citigroup show that the company＇s provision in their executive compensation is not acceptable, On the other hand, Starbucks, GE, and Kraft Foods are the companies that follow legal rules provided by the Securities and Exchange Commission （SEC） in providing compensations to executives. Thus, they are good exemplars to other companies.
文摘In today’s environment,where SME’s financing continues to be a serious problem,systems that facilitate non-bank financing models different from traditional ones should be considered.In the present article a model of financing based on bonds for SME’s is proposed,very suitable for the agricultural sector or any group with little access to traditional financing.To improve the analysis,a fuzzy logic system is proposed that allows the most representative variables to be properly selected and take into account the uncertainty of the environment and the subjectivity of the analysts.
文摘The year 2016 is the year of change for China’s new energy vehicles industry,and also the key year in which the industry walks into the growth period from a lead-in period.The opportunities were obvious,and challenges extremely difficult to meet.On one hand,many lithium battery enterprises suffered from a long account period,slowly returned money or
基金Supported by National Natural Science Foundation of China(61402364)Soft Science Research Project of Xi’an Science and Technology Plan(XA2020-RKXYJ-0075)Xi’an International Studies University Research Foundation(19XWB06)。
文摘It is challenging to forecast foreign exchange rates due to the non-linear characters of the data. This paper applied a wavelet-based Elman neural network with the modified differential evolution algorithm to forecast foreign exchange rates. Elman neural network has dynamic characters because of the context layer in the structure. It makes Elman neural network suit for time series problems. The main factors, which affect the accuracy of the Elman neural network, included the transfer functions of the hidden layer and the parameters of the neural network. We applied the wavelet function to replace the sigmoid function in the hidden layer of the Elman neural network, and we found there was a "disruption problem" caused by the non-linear performance of the wavelet function. It didn’t improve the performance of the Elman neural network, but made it get worse in reverse. Then, the modified differential evolution algorithm was applied to train the parameters of the Elman neural network. To improve the optimizing performance of the differential evolution algorithm, the crossover probability and crossover factor were modified with adaptive strategies, and the local enhanced operator was added to the algorithm. According to the experiment, the modified algorithm improved the performance of the Elman neural network, and it solved the "disruption problem" of applying the wavelet function.These results show that the performance of the Elman neural network would be improved if both of the wavelet function and the modified differential evolution algorithm were applied integratedly.
