This paper investigates the impact of financial system design on investment. It is aimed to provide additional empirical evidence based on the original paper by Demirguc-Kunt and Maksimovic （2002）. The firm-level da...This paper investigates the impact of financial system design on investment. It is aimed to provide additional empirical evidence based on the original paper by Demirguc-Kunt and Maksimovic （2002）. The firm-level data of Malaysian companies between 2000 and 2007 are used. This paper also extends the previous literatures by using a panel data methodology, applying a random-effects estimator. The findings show that： First, the growth investment of firms are positively related to the development of the banking system but negatively related to the capital market. These firms substitute equity for debt associated with an increase in stock market activity （more long-term financing） and debt for equity in the presence of an increase in banking activity （less long-term financing）. Second, the internal growth financing, short-term growth financing and long-term growth financing have shown a significant impact on growth investment by firms. It implies that these financing constraints are complements to the development of banking system and stock market activity. Therefore, well-developed stock markets facilitate long-term financing, whereas a well-developed banking sector facilitates short-term financing. It is recommended that policy makers stress more on banking system for short-term financing and capital market for long-term financing.展开更多
The present study investigates computer-antomated design and structural optimization of concrete slab frame bridges considering investment cost based on a complete 3D model. Thus, a computer code with several modules ...The present study investigates computer-antomated design and structural optimization of concrete slab frame bridges considering investment cost based on a complete 3D model. Thus, a computer code with several modules has been developed to produce parametric models of slab frame bridges. Design loads and load combinations are based on the Eurocode design standard and the Swedish design standard for bridges. The necessary reinforcement diagrams to satisfy the ultimate and serviceability limit states, including fatigue checks for the whole bridge, are calculated according to the aforementioned standards. Optimization techniques based on the genetic algorithm and the pattern search method are applied. A case study is presented to highlight the efficiency of the applied optimization algorithms. This methodology has been applied in the design process for the time-effective, material-efficient, and optimal design of concrete slab frame bridges.展开更多
The main objective of this research is to integrate environmental impact optimization in the structural design of reinforced concrete slab frame bridges in order to determine the most environment-friendly design. The ...The main objective of this research is to integrate environmental impact optimization in the structural design of reinforced concrete slab frame bridges in order to determine the most environment-friendly design. The case study bridge used in this work was also investigated in a previous paper focusing on the optimization of the investment cost, while the present study focuses on environmental impact optimization and comparing the results of both these studies. Optimization technique based on the pattern search method was implemented. Moreover, a comprehensive LCA （life cycle assessment） methodology of ReCiPe and two monetary weighting systems were used to convert environmental impacts into monetary costs. The analysis showed that both monetary weighting systems led to the same results. Furthermore, optimization based on environmental impact generated models with thinner construction elements yet of a higher concrete class, while cost optimization by considering extra constructability factors provided thicker sections and easier to construct. This dissimilarity in the results highlights the importance of combining environmental impact （and its associated environmental cost） and investment cost to find more material-efficient, economical, sustainable and time-effective bridge solutions.展开更多
文摘This paper investigates the impact of financial system design on investment. It is aimed to provide additional empirical evidence based on the original paper by Demirguc-Kunt and Maksimovic （2002）. The firm-level data of Malaysian companies between 2000 and 2007 are used. This paper also extends the previous literatures by using a panel data methodology, applying a random-effects estimator. The findings show that： First, the growth investment of firms are positively related to the development of the banking system but negatively related to the capital market. These firms substitute equity for debt associated with an increase in stock market activity （more long-term financing） and debt for equity in the presence of an increase in banking activity （less long-term financing）. Second, the internal growth financing, short-term growth financing and long-term growth financing have shown a significant impact on growth investment by firms. It implies that these financing constraints are complements to the development of banking system and stock market activity. Therefore, well-developed stock markets facilitate long-term financing, whereas a well-developed banking sector facilitates short-term financing. It is recommended that policy makers stress more on banking system for short-term financing and capital market for long-term financing.
文摘The present study investigates computer-antomated design and structural optimization of concrete slab frame bridges considering investment cost based on a complete 3D model. Thus, a computer code with several modules has been developed to produce parametric models of slab frame bridges. Design loads and load combinations are based on the Eurocode design standard and the Swedish design standard for bridges. The necessary reinforcement diagrams to satisfy the ultimate and serviceability limit states, including fatigue checks for the whole bridge, are calculated according to the aforementioned standards. Optimization techniques based on the genetic algorithm and the pattern search method are applied. A case study is presented to highlight the efficiency of the applied optimization algorithms. This methodology has been applied in the design process for the time-effective, material-efficient, and optimal design of concrete slab frame bridges.
文摘The main objective of this research is to integrate environmental impact optimization in the structural design of reinforced concrete slab frame bridges in order to determine the most environment-friendly design. The case study bridge used in this work was also investigated in a previous paper focusing on the optimization of the investment cost, while the present study focuses on environmental impact optimization and comparing the results of both these studies. Optimization technique based on the pattern search method was implemented. Moreover, a comprehensive LCA （life cycle assessment） methodology of ReCiPe and two monetary weighting systems were used to convert environmental impacts into monetary costs. The analysis showed that both monetary weighting systems led to the same results. Furthermore, optimization based on environmental impact generated models with thinner construction elements yet of a higher concrete class, while cost optimization by considering extra constructability factors provided thicker sections and easier to construct. This dissimilarity in the results highlights the importance of combining environmental impact （and its associated environmental cost） and investment cost to find more material-efficient, economical, sustainable and time-effective bridge solutions.
