Research on the Influence of Equity Structure on Corporate Performance

Equity structure constitutes a crucial component of corporate internal governance.A scientifically and reasonably structured equity system aids in enhancing the level and efficiency of corporate governance.Through empirical analysis of data spanning from 2013 to 2022,the study aims to verify the influence mechanism of equity structure on corporate performance.The results indicate that enhancing equity concentration and balance positively impacts corporate performance,with this effect persisting over time.Consequently,optimizing the degree of equity concentration,shareholder types,and the board of directors’structure can assist enterprises in maximizing long-term value.

The Impact of Sustainable Development Strategies on Corporate Performance

Enterprises must develop and implement effective strategic measures to achieve sustainable development.This entails evaluating corporate performance,understanding the impact of sustainable development strategies on corporate performance,and implementing such strategies.The article proposes eight critical countermeasures to foster harmony and sustainable development among humanity,nature,the economy,and society:innovation-driven initiatives,green development practices,social responsibility initiatives,talent cultivation programs,collaborative cooperation efforts,sound financial management,brand-building endeavors,and effective information management.

Research on the Impact of BYD Group’s Green Innovation on Corporate Financial Performance under the Background of“Dual Carbon”

With the increasingly severe global climate change problem,the“dual carbon”goals(peak carbon emissions and carbon neutrality)have become a common focus of international attention.The report of the 20th National Congress of the Communist Party of China clearly emphasizes the need to accelerate the green transformation of development models,implement comprehensive strategies for frugal development,support the growth of green and low-carbon industries,and promote the concept of green consumption.At the same time,“Made in China 2025”also elaborates on the strategic concept of innovation-driven and green development centered,and strives for breakthroughs in key industries such as new energy vehicles.In such a macro environment,adopting green innovation measures by enterprises not only contributes to ecological protection but also has an undeniable impact on their economic performance and overall value.This article takes BYD Group as a case study to explore in detail the positive effects of green innovation on its economic performance.We first systematically organized and analyzed BYD’s specific practices in green innovation;Then,by examining three key financial indicators,BYD’s current financial situation was analyzed in depth;On this basis,combined with research data,the positive impact of green innovation on BYD’s financial performance was revealed;Finally,based on the analysis results,relevant suggestions are proposed to provide reference for the sustainable development of enterprises in the context of“dual carbon.”

Effects of spot size on the operation mode of Ga As photoconductive semiconductor switch employing extrinsic photoconductivity

To guide the illuminating design to improve the on-state performances of gallium arsenide(GaAs)photoconductive semiconductor switch(PCSS),the effect of spot size on the operation mode of GaAsPCSS based on a semi-insulating wafer with a thickness of 1 mm,triggered by a 1064-nm extrinsic laser beam with the rectangular spot,has been investigated experimentally.It is found that the variation of the spot size in length and width can act on the different parts of the output waveform integrating the characteristics of the linear and nonlinear modes,and then significantly boosts the PCSS toward different operation modes.On this basis,a two-channel model containing the active and passive parts is introduced to interpret the relevant influencing mechanisms.Results indicate that the increased spot length can peak the amplitude of static domains in the active part to enhance the development of the nonlinear switching,while the extended spot width can change the distribution of photogenerated carriers on both parts to facilitate the linear switching and weaken the nonlinear switching,which have been proved by comparing the domain evolutions under different spot sizes.

Performance of Gas-Steam Combined Cycle Cogeneration Units Influenced by Heating Network Terminal Steam Parameters

The determination of source-side extracted heating parameters is of great significance to the economic operation of cogeneration systems.This paper investigated the coupling performance of a cogeneration heating and power system multidimensionally based on the operating characteristics of the cogeneration units,the hydraulic and thermodynamic characteristics of the heating network,and the energy loads.Taking a steam network supported by a gas-steam combined cycle cogeneration system as the research case,the interaction effect among the source-side prime movers,the heating networks,and the terminal demand thermal parameters were investigated based on the designed values,the plant testing data,and the validated simulation.The operating maps of the gas-steam combined cycle cogeneration units were obtained using THERMOFLEX,and the minimum source-side steam parameters of the steam network were solved using an inverse solution procedure based on the hydro-thermodynamic coupling model.The cogeneration operating maps indicate that the available operating domain considerably narrows with the rise of the extraction steam pressure and flow rate.The heating network inverse solution demonstrates that the source-side steam pressure and temperature can be optimized from the originally designed 1.11 MPa and 238.8°C to 1.074 MPa and 191.15°C,respectively.Under the operating strategy with the minimum source-side heating parameters,the power peak regulation depth remarkably increases to 18.30%whereas the comprehensive thermal efficiency decreases.The operation under the minimum source-side heating steam parameters can be superior to the originally designed one in the economy at a higher price of the heating steam.At a fuel price of$0.38/kg and the power to fuel price of 0.18 kg/(kW·h),the critical price ratio of heating steam to fuel is 119.1 kg/t.The influence of the power-fuel price ratio on the economic deviation appears relatively weak.

Evaluation of Driver-Induced Human Errors in Smart Construction Tower Crane Operations Based on DEMATEL-ISM-MICMAC

With the advent of Industry 4.0, smart construction sites have seen significant development in China. However, accidents involving digitized tower cranes continue to be a persistent issue. Among the contributing factors, human unsafe behavior stands out as a primary cause for these incidents. This study aims to assess the human reliability of tower crane operations on smart construction sites. To proactively enhance safety measures, the research employs text mining techniques (TF-IDF-Truncated SVD-Complement NB) to identify patterns of human errors among tower crane operators. Building upon the SHEL model, the study categorizes behavioral factors affecting human reliability in the man-machine interface, leading to the establishment of the Performance Shaping Factors (PSFs) system. Furthermore, the research constructs an error impact indicator system for the intelligent construction site tower crane operator interface. Using the DEMATEL method, it analyzes the significance of various factors influencing human errors in tower crane operations. Additionally, the ISM-MICMAC method is applied to unveil the hierarchical relationships and driving-dependent connections among these influencing factors. The findings indicate that personal state, operating procedures, and physical environment directly impact human errors, while personal capability, technological environment, and one fundamental organizational management factor contribute indirectly. .

Supercapacitor electrode based on few-layer h-BNNSs/rGO composite for wide-temperature-range operation with robust stable cycling performance

Currently,developing supercapacitors with robust cycle stability and suitability for wide-temperature-range operations is still a huge challenge.In the present work,few-layer hexagonal boron nitride nanosheets(h-BNNSs)with a thickness of 2−4 atomic layers were fabricated via vacuum freeze-drying and nitridation.Then,the h-BNNSs/reduced graphene oxide(rGO)composite were further prepared using a hydrothermal method.Due to the combination of two two-dimensional(2D)van der Waals-bonded materials,the as-prepared h-BNNSs/rGO electrode exhibited robustness to wide-temperature-range operations from−10 to 50℃.When the electrodes worked in a neutral aqueous electrolyte(1 M Na2SO4),they showed a great stable cycling performance with almost 107%reservation of the initial capacitance at 0℃ and 111% at 50℃ for 5000 charge−discharge cycles.

Influence of propagation direction on operation performance of rotating detonation combustor with turbine guide vane

Due to the pressure gain combustion characteristics,the rotating detonation combustor(RDC)can enhance thermodynamic cycle efficiency.Therefore,the performance of gas-turbine engine can be further improved with this combustion technology.In the present study,the RDC operation performance with a turbine guide vane(TGV)is experimentally investigated.Hydrogen and air are used as propellants while hydrogen and air mass flow rate are about 16.1 g/s and 500 g/s and the equivalence ratio is about 1.0.A pre-detonator is used to ignite the mixture.High-frequency dynamic pressure transducers and silicon pressure sensors are employed to measure pressure oscillations and static pressure in the combustion chamber.The experimental results show that the steady propagation of rotating detonation wave(RDW)is observed in the combustion chamber and the mean propagation velocity is above 1650 m/s,reaching over 84%of theoretical Chapman-Jouguet detonation velocity.Clockwise and counterclockwise propagation directions of RDW are obtained.For clockwise propagation direction,the static pressure is about 15%higher in the combustor compared with counterclockwise propagation direction,but the RDW dominant frequency is lower.When the oblique shock wave propagates across the TGV,the pressure oscillations reduces significantly.In addition,as the detonation products flow through the TGV,the static pressure drops up to 32%and 43%for clockwise and counterclockwise propagation process respectively.

Influence of Design Margin on Operation Optimization and Control Performance of Chemical Processes

Operation optimization is an effective method to explore potential economic benefits for existing plants. The m.aximum potential benefit from operationoptimization is determined by the distances between current operating point and process constraints, which is related to the margins of design variables. Because of various ciisturbances in chemical processes, some distances must be reserved for fluctuations of process variables and the optimum operating point is not on some process constraints. Thus the benefit of steady-state optimization can not be fully achied（ed while that of dynamic optimization can be really achieved. In this study, the steady-state optimizationand dynamic optimization are used, and the potential benefit-is divided into achievable benefit for profit and unachievable benefit for control. The fluid catalytic cracking unit （FCCU） is used for case study. With the analysis on how the margins of design variables influence the economic benefit and control performance, the bottlenecks of process design are found and appropriate control structure can be selected.

Operational Performance Evaluation of Corn Processing Industry Technological Innovation Alliance Based on Survey Data in Heilongjiang Province

This paper selected the corn processing industry technology innovation alliance in Heilongjiang Province as the research object, evaluated the operational performance of the alliance by using analytic hierarchy process(AHP) and fuzzy comprehensive evaluation methods. AHP empirical results showed that the satisfaction of information communication and the satisfaction of the management process were the weakest. And the order from high to low on the level of indicators of the impact for the alliance was the result of alliance operations and the process of alliance operations, the behavioral attitude of alliance members. Besides, the results of fuzzy comprehensive evaluation showed that the operational performance of the corn processing industry technology innovation alliance in Heilongjiang Province was in the general level.

New Procedure to Derive the Performance Indices Associated with Reservoir Operation Rule

Stochastic dynamic programming (SDP) is extensively used in the optimization for long-term reservoir operations. Generally, both of the steady state optimal policy and its associated performance indices (PIs) for multipurpose reservoir are of prime importance. To derive the PIs there are two typical ways: simulation and probability formula. Among the disadvantages, one is that these approaches require the pre-specified operation policy. IHuminated by the convergence of objective function in SDP, a new approach, which has the advantage that its use can be concomitant with the solving of SDP, is proposed to determine the desired PIs. In the case study, its efficiency is also practically tested.

Profit Delivery Proportion,Operation Performance and Bond Rating of Agricultural State-owned Enterprises

The distribution relationship between the profits of state-owned enterprises and the state has been constantly changing with the times. From the state implementing the policy that state-owned enterprises not pay profits to the state in 1994 to the constant growth of stateowned enterprises in the 21st century,their profits have become more and more abundant. Until 2007,the state issued a document stipulates that the state-owned enterprises should pay part of their profits to the state,but at the initial stage of trial implementation of the policy,the implementation was not effective,and finally in 2010 the state officially announced the collection of profits from state-owned enterprises and increased the proportion of collection. From the perspective of agricultural state-owned enterprises,using the difference-in-difference( DID)model,this paper studied the state policy of increasing the profit delivery proportion of state-owned enterprises in 2020. Through CSMAR database,we selected agricultural state-owned listed companies in the 2008-2013 as samples,tested the impact of the implementation of the new policy in 2010 on the operation performance of agricultural state-owned enterprises,evaluated the implementation effect of the policy through comparing the operation performance before and after the policy,and explored whether the policy has an impact on the bond rating. Through empirical research,it found that increasing the profit delivery proportion of state-owned enterprises is helpful for improving the operation performance of state-owned enterprises and improving the quality of bond ratings,and this policy has more prominent effects on stimulating the performance of monopolistic state-owned enterprises. Therefore,collection of some profits from state-owned enterprises can promote better development of state-owned enterprises and also benefit both the state and the people.

Analyzing the Operational Performance Migration of Telecom Operators

Due to the rapid development of mobile Internet services, such as Skype and WeChat, traditional telecom services have suffered a large decline in the business volumes in recent years. Thus, telecom operators pay much attention to analyzing the changes of the enterprise performance, in order to adjust market strategies in time. In this paper, we propose a new methodology to analyze the operation data of telecom operators dynamically,which can characterize the changing process of the operating states and predict the developing trends. In particular, the proposed methodology contains two steps: migration pattern analysis and trajectory pattern analysis.Firstly, migration analysis is based on the changing of operating states between two points-in-time, which is referred to as the migration paths. Applying the clustering analysis to the migration paths can obtain the migration patterns, which characterize the changing feature of telecom operators during a short period, e.g. one month. Secondly, we combine a sequence of consecutive migration paths to obtain the migration trajectory. Through analyzing different trajectories based on the hierarchical cluster method and the Markov chain model, we obtain the trajectory patterns,which describe the changing progress during a relatively long period, e.g. one year. Based on the trajectory patterns, we can predict the possible performance changes. Finally, we apply the proposed method to a Chinese telecom operator for an empirical research, and has obtained a lot of development rules which provides insights into current telecom.

The Impact of Corporate Governance on Banks Performance and Loan Quality： Evidence From Italian Cooperative Banks

In the banking system, a context characterized by growing instability and by the speed of evolution of business dynamics, the system of corporate governance plays a key role, both for large banks and for banks with a smaller size. The paper aims to investigate the influence of corporate governance of the banks that operate in the cooperative credit system on performance and quality of loans, over the years 2010-2011-2012. In order to achieve this aim, the following research hypotheses have been formulated： There is a statistically significant relationship between the size and the structure of the board and banks Performance operating in the cooperative credit system; there is a statistically significant relationship between the size and structure of the board and the credit quality of banks operating in the cooperative credit system. The analysis is conducted on a sample composed of 48 Italian banks, divided into 24 cooperative banks and 24 popular banks. The sample is made up of banks from all over Italy and very different in terms of dimension. For the sample construction, data relative to governance of banks were collected from the balance sheets in the period from June to August 2014. Financial-economic data were collected from the Financial Statements and from Bankscope database. The methodology of analysis is based on multivariate OLS （ordinary least squares） regression models. The main results refer to the presence of significant relationships between board dimension and the quality of loans and among the number of committees and performance and the quality of loans. The presence of a significant and negative relationship between the board dimension and the ratio of impaired loans to gross loans indicates the possibility that enlargement of board dimension allows a better quality of loans. The presence of a positive relationship between the number of committees and the ratio of impaired loans to gross loans signals the possibility that a greater number of committees can produce a worse quality of loans. The presence of a negative relationship between the number of committees and bank performance suggests to limit and manage the complexity of governance in banks operating in the cooperative credit system.

Heuristics for Improving Operational Performance of Permutation Circulati on-type Vehicle Routing System

This paper discusses an optimization of operating a p ermutation circulation-type vehicle routing system (PCVRS, for short), in w hich several stages are located along by a single loop, and a fleet of vehicles travels on the loop unidirectionally and repeatedly. Traveling on the loop, each vehicle receives an object from the loading stage and then carries it to a cert ain processing stage, or receives an object from a certain processing stage and then carries it to the unloading stage per a turnaround. No passing is allowed f or the vehicles on the loop (from which the system is called permutation, and th is restriction may cause interferences between vehicles). Material handling systems such as PCVRS are actually encountered in flexible man ufacturing systems and in automated storage/retrieval systems. In this paper, we propose a heuristic algorithm for operating the PCVRS, which i ncorporates a new scheduling method for the vehicles with the SPT (shortest proc essing time) numbering of jobs and a round-robin manner of allocating jobs to t he stages, aiming to reduce interferences between the vehicles. We also give num erical results with respect to system performances attained by the heuristic. Description of the system The PCVRS consists of a set of n v vehicles V={V 1,V 2,...,V n v}, a set of n s, processing stages S p={S 1,S 2,...,S n s}, a loading stage S 0 and an unloading stage S n s +1. We denote by S=S p∪{S 0,S n s+l} the set of all the stages. The vehicles travel on a single loop unidirectionany and repeated ly. The system layout is depicted in Fig.1. There is a set of n jobs J={J 1,J 2,...,J n} to be processed b y the vehicles. Each job consists of two tasks: That is, each vehicle receives a n object from S 0 and then carries it to S l with a certain l∈{1,2, ...,n s} (a throw-in job), or receives an object from S l with a certain l∈{1,2,...,n s} and then carries it to S n s+1 (a throw-out job ) per a turnaround. The loop consists of buffer zones BZ(l) and travel zones TZ(l) (see Fig. 1). Each buffer zone BZ(l) is placed in front of stage S l, l=0,1,..., n s, n s+1, in order to avoid a collision between vehicles (i.e., the syste m adopts the so-called zone control strategy). A heuristic algorithm We develop a heuristic algorithm to obtain a good performance for the PCVRS. An operation π={A/B/C} for the PCVRS consists of three decision factors: (A) Numbering jobs Jobs are loaded into S 0 according to an assending order of job numbers. In this paper, we use the following rules to number jobs: SPT: Order jobs in the shortest processing time rule, i.e., P 1≤P 2≤...≤P n for the set of jobs J={J 1,J 2,...,J n}, rather than the FCFS numbering (i.e., number jobs in first-come-first-served order). The SPT rule intends to reduce interferences between two adjacent vehicles at stages. (B) Allocating jobs to stages For the purpose of balancing loads of processing stages, we adopt the following to allocate jobs to the stages: ORDER: Allocate n jobs to n s, processing stages by an in-order manner , i.e., let l(i) be the index of processing stage allocated job J i by ORDER, it holds that l(i)=n s+1-(i-[(i-1)/n s]n s).(1) The ORDER rule intends to process jobs parallel at stages as many as possible. (C) Scheduling vehicles The following method for scheduling vehicles under ORDER rule is already known: Fig.1 The vehicle ro uting system, PCVRS Fig.2 Mean turnaroun d times by heuristics Unchange: Assign n jobs to n v vehicles such that let k(i) be the i ndex of vehicle processing job J i, then k(i)= i-[(i-1)/n v]n v.(2) In csse of n v≥n s, mod (n v,n s)=0 or n v<n s, mod (n s,n v)=0 (mod(x,y) is the remainder of x/y), the number of interferences between vehicles is minimized at stage S 1 under Unchange sche dules, while in the other cases it is not [Lu et al. (2001a)]. Therefore, in t his paper, we develop a new scheduling method of the vehicles, denoted by Ex change, to modify Unchange schedules. Note

A Study on the Relationship Between Corporate Social Responsibility to Employee and Corporate Operating Performance in China： Evidence From New Era Health Industry （Group） Co., Ltd.

As the development of economy, the corporate social responsibility （CSR） received more and more recognition from academic and business. The traditional economy with only goal of pursuing the wealth is changing rapidly. Chinese corporations realize that it is important and urgent to value the social responsibility, search for effective means to balance the relationship between CSR and COP （corporate operating performance）. Meanwhile, it is helpful and meaningful for the society to build up a healthy and appropriate operating value for corporations. However, there is always a debate of how many social responsibilities a corporation should take in order to satisfy the corporate development and the relationship between CSR and profit, and previous researches on corporate social responsibility mainly focused on all stakeholders of a company. As more and more corporations are aware of the importance of their employee, this study specifically selects employee, one of the most important stakeholders, as the subject investigated. Meanwhile, it chooses New Era Health Industry （Group） Co., Ltd as the target enterprise, which is the only state-owned key enterprises in health industry and the leading corporation in directselling industry in China's Mainland. In order to research the relationship between corporate operating performance and the satisfaction of employees’ material needs and psychological needs, this study plans to complete it by combining the theoretical and empirical study, qualitative analysis and quantitative analysis research methods. Based on a questionnaire of 200 employees in New Era, this study analyzes the situation of CSR to employees for New Era and comes to the conclusion of the relationship between the CSR and COP. According to the research result, this study may give some suggestions for Chinese corporations to fulfill their socialresponsibility system and to improve the situation of the lack of CSR to employees.

Development of a dynamic operational rating system in energy performance certificates for existing buildings： Geostatistical approach and data-mining technique

The operational rating system in building energy performance certificates(EPCs) has been used for systematically monitoring and diagnosing the energy performance in the operation and maintenance phases of existing buildings. However, there are several limitations of the conventional operational rating system,which can be subdivided into three aspects:(i) building category;(i i) region category; and(iii) space unit size. To overcome these challenges, this study conducted the problem analysis of the conventional operational rating system for existing buildings by using the statistical and geostatistical approaches. Based on the problem analysis, this study developed the dynamic operational rating(DOR) system for existing buildings by using the data-mining technique and the probability approach. The developed DOR system can be used as a tool for building energy performance diagnostics.To validate the applicability of the developed DOR system, educational facilities were selected as the representative type of existing buildings in South Korea. As a result, it was determined that the developed DOR system can solve the irrationality of the conventional operational rating system(i.e., the negative correlation between the space unit size and the CO2 emission density). Namely, the operational ratings of small buildings were adjusted upward while those of large buildings were adjusted downward. The developed DOR system can allow policymakers to establish the reasonable operational rating system for existing buildings, which can motivate the public to actively participate in energy-saving campaigns.

Tuning Solid Interfaces via Varying Electrolyte Distributions Enables High-Performance Solid-State Batteries

Solid/solid interface is the major challenge for high-performance solid-state batteries.Solid electrolytes(SEs)play a crucial role in the fabrication of effective interfaces in solid-state batteries.Herein,the electrolyte distribution with varied particle sizes is tuned to construct solid-state batteries with excellent performance at different operating temperatures.Solid-state batteries with the configuration S/L(small-sized SE in composite cathode and large-sized SE in electrolyte layer)show the best performance at room temperature(168 mA h g^(−1) at 0.2 C,retention of 99%,100 cycles)and−20°C(89 mA h g^(−1) at 0.05 C),while the configuration S/S displays better performance at elevated temperature.The superior performance of S/L battery is associated with faster lithium-ion dynamics due to the better solid/solid interface between active materials and electrolytes.Moreover,the inferior performance at 60℃is caused by the formation of voids and cracks in the electrolyte layer during cycling.In contrast,the S/S battery delivers superior performance at elevated operating temperature because of the integrated structure.This work confirms that tailoring electrolyte size has significant effect on fabricating all-climate solid-state batteries.

Air-Stable,Eco-Friendly RRAMs Based on Lead-Free Cs_(3)Bi_(2)Br_(9)Perovskite Quantum Dots for High-Performance Information Storage

Development of lead-free halide perovskites that are innocuous and stable has become an attractive trend in resistive random access memory(RRAM)fields.However,their inferior memory properties compared with the lead-based analogs hinder their commercialization.Herein,the lead-free Cs_(3)Bi_(2)Br_(9)perovskite quantum dot(PQD)-based RRAMs are reported with outstanding memory performance,where Cs_(3)Bi_(2)Br_(9)quantum dots(QDs)are synthesized via a modified ligand-assisted recrystallization process.This is the first report of applying Cs_(3)Bi_(2)Br_(9)QDs as the switching layer for RRAM device.The Cs_(3)Bi_(2)Br_(9)QD device demonstrates nonvolatile resistive switching(RS)effect with large ON/OFF ratio of 105,low set voltage of-0.45 V,as well as good reliability,reproducibility,and flexibility.Concurrently,the device exhibits the notable tolerance toward moisture,heat and light illumination,and long-term stability of 200 days.More impressively,the device shows the reliable light-modulated RS behavior,and therefrom the logic gate operations including"AND"and"OR"are implemented,foreboding its prospect in logic circuits integrated with storage and computation.Such multifunctionality of device could be derived from the unique 2D layered crystal structure,small particle size,quantum confinement effect,and photoresponse of Cs_(3)Bi_(2)Br_(9)QDs.This work provides the strategy toward the high-performance RRAMs based on stable and eco-friendly perovskites for future applications.