Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing...Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing on the corporate data of Chinese listed companies,by considering the intrinsic characteristics,utilizing the principal factor analysis and the ridge regression method.Our results suggest that a firms debt ratio has a positive relationship with its size,profitability and operating risk and has a negative relationship with its growth and non debt tax shield,while the long term leverage has a positive relationship with its collateral value of assets.展开更多
To analyze China’s fluctuating situation of the factor input and aggregative productivity is not only the main method to seek the source of the economic growth but also the main way to weigh the level of economic gro...To analyze China’s fluctuating situation of the factor input and aggregative productivity is not only the main method to seek the source of the economic growth but also the main way to weigh the level of economic growth quality.As to economic growth ofa country,the improvementofthe productivity is extremely important.The growth of the output can be realized through two kinds of ways: increasing the quantity of factor input of or improving the efficiency of the input and output.There fore, the level of economic growth quality does not mainly depend on the amount of invested factor,but the importance of improving the productivity since resources are rare. The relative improvement of efficiency in use of the invested factor marks the economic growing quality.So,in order to understand the economic growth quality of China to some extent, it must analyze Chinese factor input and aggregative productivity. This is the main topic that this text will be probed into.展开更多
In China, the tourism industry is regarded as one means of fostering local economic development. This paper tries to examine inbound tourism development in China in the last decade and analyze inbound tourism's sa...In China, the tourism industry is regarded as one means of fostering local economic development. This paper tries to examine inbound tourism development in China in the last decade and analyze inbound tourism's satisfaction of their travel experience with tourist attractions, facilities, services and price by an empirical study based on the investigation of Lanzhou, Wuhan, Guangzhou, Shanghai and Beijing. This paper discusses the demographic characteristics of visitors from Hong Kong, Macao and Taiwan, US, Korea and Japan by surveying a sample of 528 visitors in fi ve different cities. The survey showed that four provinces/autonomous region in western China ranked the top 10 popular destinations. Chinese natural landscape, culture and food were highly regarded by the tourists. At the same time, tourists expressed less satisfaction with tourist language convenience, tourist facility and nightlife in China. It was also found that only 7.4% of the tourists thought travel in China was far more than what they had paid, that 6.5% regarded they got what they paid for, and that 34.9% thought the travel cost was reasonable. Most tourists were satisfi ed with their travel experience in China; many of them would like to return to China and would like to recommend China. For the sustainable development of tourism, Chinese tourism authorities should strengthen the construction, propaganda and management of scenic spots, improve tourist facility and tourist education, especially language convenience, and strengthen the supervision of tickets, souvenir and hotel price.展开更多
The development of urbanization has a close relationship with fresh water resources, especially in the rapid urbanization period. By analyzing the course of the urhanization development and the experience of internati...The development of urbanization has a close relationship with fresh water resources, especially in the rapid urbanization period. By analyzing the course of the urhanization development and the experience of international urbanization development, the paper confirms the starting time of the rapid urbanization. Based on the ecotogical theory; urban fresh water consumption is composed of three types： the direct, the indirect and the induced water consumption. And the paper constructs calculation model of the indirect and the induced water consumption. Using the related statistics data, the paper makes an empirical research on the changes of the amount and structure of water consumption. Then it discusses the correlation between the water consumption and the amount of urban population, and the result shows that the amount of the water consumption arid the urban population have a remarkable correlation with the exception of the amount of the indirect water consumption, and the curves fake on quadratic functian form. Last, from the urban fimction point of view; the paper anatomizes the cause of the urban water consumption changes.展开更多
The feature selection in analogy-based software effort estimation （ASEE） is formulized as a multi-objective optimization problem. One objective is designed to maximize the effort estimation accuracy and the other ob...The feature selection in analogy-based software effort estimation （ASEE） is formulized as a multi-objective optimization problem. One objective is designed to maximize the effort estimation accuracy and the other objective is designed to minimize the number of selected features. Based on these two potential conflict objectives, a novel wrapper- based feature selection method, multi-objective feature selection for analogy-based software effort estimation （MASE）, is proposed. In the empirical studies, 77 projects in Desharnais and 62 projects in Maxwell from the real world are selected as the evaluation objects and the proposed method MASE is compared with some baseline methods. Final results show that the proposed method can achieve better performance by selecting fewer features when considering MMRE （mean magnitude of relative error）, MdMRE （median magnitude of relative error）, PRED （ 0. 25 ）, and SA （ standardized accuracy） performance metrics.展开更多
Profitability has always been considered as a primary indicator of dividend payout by a company. There are factors other than profitability namely cash flows, debt equity ratio, retained earnings, sales growth, share ...Profitability has always been considered as a primary indicator of dividend payout by a company. There are factors other than profitability namely cash flows, debt equity ratio, retained earnings, sales growth, share prices of a company, capital expenditure and beta etc. that also affect dividend decisions of an organization. Existing literature suggests that dividend payout is positively related to profits, cash flows while CAPEX （capital expenditure） retained earnings, sales growth, share prices, beta, interest paid and debt equity ratio have inverse relationship. A set of 21 key variables have been identified that affect the dividend payout of a firm. Researchers in the past have used several proxies to represent these determinants. Authors have tried to find out which proxy variable is most relevant in the present scenario. The paper attempts to give a focused overview of the important dividend theories and empirically analyze the determinants of dividend behavior of Indian FMCG （Fast moving consumer goods） sector. The relationship between key variables has been explored with the aid of statistical techniques of factor analysis. Thus, the main theme of this study is to examine the various factors that influence the dividend policy decisions of FMCG firms in India.展开更多
Nowadays researchers working in various fields study the issues of argument. They represent different approaches which distinguish with theoretical and practical comprehension of argument problems. Informal study of a...Nowadays researchers working in various fields study the issues of argument. They represent different approaches which distinguish with theoretical and practical comprehension of argument problems. Informal study of argument is one of the approaches. The key reason of its appearance was the criticism of formal logic in the late 20th century. Researchers consider the argument from the different point of view. Formal dialectics and pragma-dialectics were based on dialectics. Contemporary rhetorical theories of argument were created on the rhetorical grounds; theory of speech acts on the basis of practical philosophy etc.. This paper is devoted to some theoretical problems of informal logic which was formed on the logic background in the late 70＇s. In spite of numerous papers, books, and text-books on informal logic published over the last thirty years, logicians has not achieved consensus so far on many issues. Among the numerous problems are： what is the subject matter of informal logic？ Does informal logic belong to the realm of logic？ Is it applied epistemology？ What is a real argument？ And what are the criteria for evaluating of such arguments？展开更多
The present paper reports an empirical study on writer's block of Chinese EFL learners at the tertiary level in the mainland of P.R.China.Factor analysis approach was employed in the present study and the results ...The present paper reports an empirical study on writer's block of Chinese EFL learners at the tertiary level in the mainland of P.R.China.Factor analysis approach was employed in the present study and the results of confirmatory factor analysis verified the model we gained.Three factors were found in writer's block of Chinese EFL learners:complexity,premature editing and attitudes.The results also showed that writer's block might be related to learners' lack of strategies in the writing process.Meanwhile,the blocked writers did not hold appropriate feelings and beliefs towards writing and teachers' evaluation on their writing.Accordingly,we suggest that we help develop learners' writing strategies and the teachers' evaluation be encouraging-oriented.Finally,suggestions for further research are raised.展开更多
Studies on communication strategies （CSs） have been carried out for nearly four decades and have contributed a lot to the development of such fields as applied linguistics and second language acquisition, but they a...Studies on communication strategies （CSs） have been carried out for nearly four decades and have contributed a lot to the development of such fields as applied linguistics and second language acquisition, but they are still inadequate and there remain controversies over certain issues. Thus, more systematic and rigorous studies are needed to check or confirm the findings of some studies and further CS research from newer and broader perspectives. This paper mainly reviews the existing empirical studies from different perspectives： CS classifications and research methods, factors affecting the choices of CSs, teachablity and teaching of CSs, and effectiveness of CSs. It is aimed to provide a clear picture of research on L2 CSs and offer some suggestions for further research.展开更多
This essay first reviews the history of English writing research in China, focusing on the way that though Chinese students negotiated multiple languages and cultures, nationalism and positivism oriented most teachers...This essay first reviews the history of English writing research in China, focusing on the way that though Chinese students negotiated multiple languages and cultures, nationalism and positivism oriented most teachers and researchers to treating native English speakers as the target audience of student writing. The essay then reviews the research reported in this special issue. These studies have advanced English writing research in China by examining writing at secondary, college, and graduate levels, the multi-dimensional feedback that student writers receive, and identity construction in student texts. The essay concludes by pointing out avenues for future research in this area.展开更多
文摘Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing on the corporate data of Chinese listed companies,by considering the intrinsic characteristics,utilizing the principal factor analysis and the ridge regression method.Our results suggest that a firms debt ratio has a positive relationship with its size,profitability and operating risk and has a negative relationship with its growth and non debt tax shield,while the long term leverage has a positive relationship with its collateral value of assets.
文摘To analyze China’s fluctuating situation of the factor input and aggregative productivity is not only the main method to seek the source of the economic growth but also the main way to weigh the level of economic growth quality.As to economic growth ofa country,the improvementofthe productivity is extremely important.The growth of the output can be realized through two kinds of ways: increasing the quantity of factor input of or improving the efficiency of the input and output.There fore, the level of economic growth quality does not mainly depend on the amount of invested factor,but the importance of improving the productivity since resources are rare. The relative improvement of efficiency in use of the invested factor marks the economic growing quality.So,in order to understand the economic growth quality of China to some extent, it must analyze Chinese factor input and aggregative productivity. This is the main topic that this text will be probed into.
文摘In China, the tourism industry is regarded as one means of fostering local economic development. This paper tries to examine inbound tourism development in China in the last decade and analyze inbound tourism's satisfaction of their travel experience with tourist attractions, facilities, services and price by an empirical study based on the investigation of Lanzhou, Wuhan, Guangzhou, Shanghai and Beijing. This paper discusses the demographic characteristics of visitors from Hong Kong, Macao and Taiwan, US, Korea and Japan by surveying a sample of 528 visitors in fi ve different cities. The survey showed that four provinces/autonomous region in western China ranked the top 10 popular destinations. Chinese natural landscape, culture and food were highly regarded by the tourists. At the same time, tourists expressed less satisfaction with tourist language convenience, tourist facility and nightlife in China. It was also found that only 7.4% of the tourists thought travel in China was far more than what they had paid, that 6.5% regarded they got what they paid for, and that 34.9% thought the travel cost was reasonable. Most tourists were satisfi ed with their travel experience in China; many of them would like to return to China and would like to recommend China. For the sustainable development of tourism, Chinese tourism authorities should strengthen the construction, propaganda and management of scenic spots, improve tourist facility and tourist education, especially language convenience, and strengthen the supervision of tickets, souvenir and hotel price.
基金supported by the Key Project of National Natural Science Foundation of China (Grant No.40535026)
文摘The development of urbanization has a close relationship with fresh water resources, especially in the rapid urbanization period. By analyzing the course of the urhanization development and the experience of international urbanization development, the paper confirms the starting time of the rapid urbanization. Based on the ecotogical theory; urban fresh water consumption is composed of three types： the direct, the indirect and the induced water consumption. And the paper constructs calculation model of the indirect and the induced water consumption. Using the related statistics data, the paper makes an empirical research on the changes of the amount and structure of water consumption. Then it discusses the correlation between the water consumption and the amount of urban population, and the result shows that the amount of the water consumption arid the urban population have a remarkable correlation with the exception of the amount of the indirect water consumption, and the curves fake on quadratic functian form. Last, from the urban fimction point of view; the paper anatomizes the cause of the urban water consumption changes.
基金The National Natural Science Foundation of China(No.61602267,61202006)the Open Project of State Key Laboratory for Novel Software Technology at Nanjing University(No.KFKT2016B18)
文摘The feature selection in analogy-based software effort estimation （ASEE） is formulized as a multi-objective optimization problem. One objective is designed to maximize the effort estimation accuracy and the other objective is designed to minimize the number of selected features. Based on these two potential conflict objectives, a novel wrapper- based feature selection method, multi-objective feature selection for analogy-based software effort estimation （MASE）, is proposed. In the empirical studies, 77 projects in Desharnais and 62 projects in Maxwell from the real world are selected as the evaluation objects and the proposed method MASE is compared with some baseline methods. Final results show that the proposed method can achieve better performance by selecting fewer features when considering MMRE （mean magnitude of relative error）, MdMRE （median magnitude of relative error）, PRED （ 0. 25 ）, and SA （ standardized accuracy） performance metrics.
文摘Profitability has always been considered as a primary indicator of dividend payout by a company. There are factors other than profitability namely cash flows, debt equity ratio, retained earnings, sales growth, share prices of a company, capital expenditure and beta etc. that also affect dividend decisions of an organization. Existing literature suggests that dividend payout is positively related to profits, cash flows while CAPEX （capital expenditure） retained earnings, sales growth, share prices, beta, interest paid and debt equity ratio have inverse relationship. A set of 21 key variables have been identified that affect the dividend payout of a firm. Researchers in the past have used several proxies to represent these determinants. Authors have tried to find out which proxy variable is most relevant in the present scenario. The paper attempts to give a focused overview of the important dividend theories and empirically analyze the determinants of dividend behavior of Indian FMCG （Fast moving consumer goods） sector. The relationship between key variables has been explored with the aid of statistical techniques of factor analysis. Thus, the main theme of this study is to examine the various factors that influence the dividend policy decisions of FMCG firms in India.
文摘Nowadays researchers working in various fields study the issues of argument. They represent different approaches which distinguish with theoretical and practical comprehension of argument problems. Informal study of argument is one of the approaches. The key reason of its appearance was the criticism of formal logic in the late 20th century. Researchers consider the argument from the different point of view. Formal dialectics and pragma-dialectics were based on dialectics. Contemporary rhetorical theories of argument were created on the rhetorical grounds; theory of speech acts on the basis of practical philosophy etc.. This paper is devoted to some theoretical problems of informal logic which was formed on the logic background in the late 70＇s. In spite of numerous papers, books, and text-books on informal logic published over the last thirty years, logicians has not achieved consensus so far on many issues. Among the numerous problems are： what is the subject matter of informal logic？ Does informal logic belong to the realm of logic？ Is it applied epistemology？ What is a real argument？ And what are the criteria for evaluating of such arguments？
文摘The present paper reports an empirical study on writer's block of Chinese EFL learners at the tertiary level in the mainland of P.R.China.Factor analysis approach was employed in the present study and the results of confirmatory factor analysis verified the model we gained.Three factors were found in writer's block of Chinese EFL learners:complexity,premature editing and attitudes.The results also showed that writer's block might be related to learners' lack of strategies in the writing process.Meanwhile,the blocked writers did not hold appropriate feelings and beliefs towards writing and teachers' evaluation on their writing.Accordingly,we suggest that we help develop learners' writing strategies and the teachers' evaluation be encouraging-oriented.Finally,suggestions for further research are raised.
文摘Studies on communication strategies （CSs） have been carried out for nearly four decades and have contributed a lot to the development of such fields as applied linguistics and second language acquisition, but they are still inadequate and there remain controversies over certain issues. Thus, more systematic and rigorous studies are needed to check or confirm the findings of some studies and further CS research from newer and broader perspectives. This paper mainly reviews the existing empirical studies from different perspectives： CS classifications and research methods, factors affecting the choices of CSs, teachablity and teaching of CSs, and effectiveness of CSs. It is aimed to provide a clear picture of research on L2 CSs and offer some suggestions for further research.
文摘This essay first reviews the history of English writing research in China, focusing on the way that though Chinese students negotiated multiple languages and cultures, nationalism and positivism oriented most teachers and researchers to treating native English speakers as the target audience of student writing. The essay then reviews the research reported in this special issue. These studies have advanced English writing research in China by examining writing at secondary, college, and graduate levels, the multi-dimensional feedback that student writers receive, and identity construction in student texts. The essay concludes by pointing out avenues for future research in this area.
