Diversification or splitting-an explanation based on Contract Theory

By inserting the variable of the exactness of corporate valuation into the classic model of Contract Theory, this paper, on the bases of the interaction of the variables of the veraciousness of corporate valuation, managerial incentives and operational risks, explores the deep-seated reasons for changes in corporate structures, and draws the conclusion that the divestment of the subsidiary is beneficial to shareholders when the parent corporate is undervalued and that the relation between the parent and the subsidiary is disordered, or vice versa. This conclusion is consistent with the motives of many divestiture cases in reality.

Analysis of the development and application of incomplete contract theory based on the basic theory of economics

Incomplete contract theory （GHM-model）, namely, GHM model, Grossman-Hart-Moore model, GHM model or called ownership - control model by Grossman and Hart （Grossman ＆ Hart, 1986）, it is established by Hart and Moore （Hart ＆ Moore, 1990） and other cofounder, so this theory is also known as GHM theory or GHM model. Domestic scholars generally call their theory incomplete contract theory or incomplete contract theory, because the theory is ba^ed on the following analytical framework： They use the incompleteness of contracts for research as starting point to property or （ residual ） optimal control with Ge for research purposes. It is the most important analytical tool for analyze business theory and corporate governance structures with Ge control incentives to obtain the information. GHM model directly inherit the transaction cost theory by Coase, and Williamson, and it is a critical development. Among them, the 1986 model is mainly to solve the integration problem of assets, in 1990, the model evolved into a general model of asset ownership.

Countermeasures Against Job Burnout Among College and University Administrators from the Perspective of Psychological Contract Theory

Administrators are the implementers of the management in colleges and universities;however,their job scopes are relatively boring and complicated,with heavy workload and high work pressure,causing some of them to be less active and slack off in their careers.Therefore,under the guidance of psychological contract theory,colleges and universities should adopt various measures to deal with job burnout among college and university administrators.In this paper,the main causes of job burnout among college and university administrators are analyzed,and specific countermeasures are proposed from the perspective of psychological contract theory,hoping to help college and university administrators improve their work enthusiasm.

Bipartite consensus problems of Lurie multi-agent systems over signed graphs: A contraction approach

This paper examines the bipartite consensus problems for the nonlinear multi-agent systems in Lurie dynamics form with cooperative and competitive communication between different agents. Based on the contraction theory, some new conditions for the nonlinear Lurie multi-agent systems reaching bipartite leaderless consensus and bipartite tracking consensus are presented. Compared with the traditional methods, this approach degrades the dimensions of the conditions, eliminates some restrictions of the system matrix, and extends the range of the nonlinear function. Finally, two numerical examples are provided to illustrate the efficiency of our results.

Theories on Community of Destiny: From Social Contract to Culture Form

This paper systematically reviews the theoretical achievements about human community in the Western intellectual history between the seventeenth century and the period around the First World War.It argues that the conception of community had undergone a historical process from social contract theory towards a theory based on communities of national culture and destiny,which highlighted a political vision of culture sharing.

Secure and Efficient Computing Resource Management in Blockchain-Based Vehicular Fog Computing

In vehicular fog computing(VFC),the resource transactions in the Internet of Vehicles(IoV)have become a novel resource management scheme that can improve system resource utilization and the quality of vehicle services.In this paper,in order to improve the security and fairness of resource transactions,we design a blockchain-based resource management scheme for VFC.First,we propose the concept of resource coin(RC)and develop a blockchain-based secure computing reource trading mechanism in terms of RC.As a node of the blockchain network,the roadside unit(RSU)participates in verifying the legitimacy of transactions and the creation of new blocks.Next,we propose a resource management scheme based on contract theory,encouraging parked vehicles to contribute computing resource so that RSU could complete proof of work(PoW)quickly,improve the success probability of block creation and get RC rewards.We use the gradient descent method to solve the computing resource utilization that can maximize the RC revenue of RSUs and vehicles during the block creation.Finally,the performance of this model is validated in simulation result and analysis.

A top-secret game:metadiscourse analysis of the contractual discourse of purchasing 100 shares of the Suez Canal Company in 1947

This paper examines categories and functions of interactive and interactional textual elements used in the contractual discourse of selling/purchasing 100 shares of the Suez Canal Company in 1947.The exchanged documents between the involved parties,the Egyptian(buyer)and the American(seller),are analyzed using Metadiscourse Analysis(MDA)as an approach to analyzing the textual resources used in the selected corpus.Game Theory is also used in conjunction with MDA to allocate the strategic behaviors of the players within the competitive contextual surroundings of the selected discourse.The analysis explains the structural constructions of the correspondences exploring how interactional relations between the participants are linguistically crafted.The analysis of the contract discourse is argued to contribute to econo-linguistics by examining how MDA and Game Theory can be integrated to construe/construct discourses about economics.The article concludes that metadiscourse resources enable the discourse of contracts to maintain a dialogic interactional language between the seller and the buyer.This interaction assimilates a game where the author and the reader(or players)exchange moves strategically to reach the target payoff.Thus,it can be argued that integrating MDA and Game Theory benefits econo-linguistics in highlighting hidden agendas and understanding interactive and interactional meanings in the discourse.

Leaderless and leader-following consensus of linear multi-agent systems

This paper studies the consensus problems for multi-agent systems with general linear and nonlinear dynamics. The leaderless and leader-following consensus problems are investigated respectively. Contraction theory is employed to gen- erate some sufficient conditions for testing the agents reaching consensus. Under these conditions and certain assumptions, the trajectories of multi-agent systems in directed topology will converge to each other. Finally, two numerical examples are given to illustrate the effectiveness of the proposed results,

THE AVAILABILITY OF CLASS ARBITRATION FOR SILENT AGREEMENTS： CONTRACT INTERPRETATION THEORY OR ARBITRABILITY DOCTRINE.9

Along with the increasing use of multi-party arbitration, mounting issues relating to it have recently become heated topics. One of the various facets concerning the availability of class arbitration has gathered overwhelming discussion in the US. According to the decisions of the United States Supreme Court, whether class action is applicable is probably decided by the arbitrator＇s interpretation of the parties＇ intent when an adequately drafted arbitration clause is silent on this issue, regardless of the correctness of his/her construing of the contracts. The contract interpretation theory is a conclusion of existing jurisprudence while the question of arbitrability doctrine may be a hint or inkling from a recent court decision. Comparing these two sides, it is better to regard the availability of class arbitration for silent agreements as a matter of contract interpretation. Although it is preferable to regard the availability issue of class action as a contract interpretation question, some restrictions on the arbitrators＇ broad contract interpretation needs to be imposed so that the parties＇ real intent can be properly enforced.

Synchronization for complex dynamical Lurie networks

This paper investigates the synchronization problem for two different complex dynamical Lurie networks, The first one is with constant coupling and the second one is with constant coupling and discrete-delay coupling. Based on contraction theory and matrix measure properties, some new delay-independent synchronization conditions depending on coupling strength and network topology are proposed. Finally, simulation results are presented to support the theoretical results.

Distributed consensus of Lurie multi-agent systems under directed topology:a contraction approach

This paper is devoted to investigate the consensus problems for the multi-agent systems with Lurie nonlinear dynamics in directed topology.Under some assumptions,some sufficient conditions for the systems reaching leaderless consensus and tracking consensus are established by using contraction analysis theory.Compared with the existing results,there is no need to formulate the multi-agent networks in compact form.These conditions are only related to the individual agent in lower-dimensional case and the communication topology of the network.Additionally,a generalized nonlinear function is introduced.Finally,three numerical examples are demonstrated to illustrate the effectiveness of the theoretical results.

Application of binding theory for seepage of viscoelastic fluid in a variable diameter capillary

The polymer solution for polymer flooding is a viscoelastic fluid. There exist both shear flow and elongational flow when the polymer solution flows in a porous medium, where an additional dissipation is involved. The additional dissipation caused by elongational deformation is often ignored while studying the flow of the fluid in a porous medium. For a complex polymer solution, the generated elongational pressure drop cannot be ignored. In a capillary of fixed diameter, the polymer solution is only impacted by the shear force, and its rheological property is pseudoplastic. Therefore the variable diameter capillary and the converging-diverging flow model with different cross sections are required to describe the flow characteristics of the polymer solution in porous media more accurately. When the polymer solution flows through the port, we have the elongational flow and the polymer molecules undergo elongational deformation elastically. By using the mechanical energy balance principle and the minimum energy principle, a mathematical model of non-Newtonian fluid inlet flow was established by Binding. On the basis of the Binding theory, with the application of the theory of viscoelastic fluid flow in the circular capillary and the contraction-expansion tube, the relations between the viscoelastic fluid flow rate and the pressure drop are obtained.