On April 29, 2005, the reform of non-tradable shares was started. 46 companies were selected as the first and second batches of non-tradable share pilot reform, and among them 45 pilot companies finished their non-tra...On April 29, 2005, the reform of non-tradable shares was started. 46 companies were selected as the first and second batches of non-tradable share pilot reform, and among them 45 pilot companies finished their non-tradable share reform. This study examines the abnormal stock returns of the 45 pilot companies finishing their non-tradable share reform to determine whether tradable shareholders gain profits from this non-tradable share reform. By employing event study analysis, we find that tradable shareholders do gain profits from the non-tradable share reform. The average abnormal return of the 45 pilot companies was 10.62% on the resumption trading day after they finished their non-tradable share reform, which was statistically significant. We also find that the average abnormal return of high-compensation package group is significantly higher than that of low-compensation package group.展开更多
Offshore wind energy,as a form of renewable power,has seen rapid development in recent years.While fixedbottom wind turbines are typically used in water depths less than 50 m,the utilization of floating offshore wind ...Offshore wind energy,as a form of renewable power,has seen rapid development in recent years.While fixedbottom wind turbines are typically used in water depths less than 50 m,the utilization of floating offshore wind turbines(FOWTs)becomes essential for deeper waters.Secure and effective mooring systems play a crucial role in making FOWTs commercially viable.The concept of a shared mooring system offers an innovative solution for deploying floating wind farms in clusters or arrays,which can reduce overall construction costs for large-scale floating wind farms.It is imperative to optimize the shared mooring arrangement for maximum cost-effectiveness and wind farm stability.However,implementing a shared mooring system introduces complexity to the dynamics of FOWTs,requiring the development of advanced simulation tools to meet modelling requirements.Under the shared mooring arrangement,mooring lines and anchors face more significant challenges,such as chain-seabed interactions,soil cyclic weakening,and anchor out-of-plane loading,which underscore the need for innovative,reliable,and efficient shared anchor designs.This article offers an overview of the current research status on shared mooring systems for floating wind farms,which might serve as a valuable reference for the construction of large-scale floating wind farms worldwide.展开更多
文摘On April 29, 2005, the reform of non-tradable shares was started. 46 companies were selected as the first and second batches of non-tradable share pilot reform, and among them 45 pilot companies finished their non-tradable share reform. This study examines the abnormal stock returns of the 45 pilot companies finishing their non-tradable share reform to determine whether tradable shareholders gain profits from this non-tradable share reform. By employing event study analysis, we find that tradable shareholders do gain profits from the non-tradable share reform. The average abnormal return of the 45 pilot companies was 10.62% on the resumption trading day after they finished their non-tradable share reform, which was statistically significant. We also find that the average abnormal return of high-compensation package group is significantly higher than that of low-compensation package group.
基金the financial supports from the National Natural Science Foundation of China(52101334)the European Commission(HORIZON-MSCA-2022-PF-01,101108745)+1 种基金the Research Council of Norway(SFI BLUES project,309281)the Open Fund from Zhejiang Key Laboratory of Offshore Geotechnics and Material(OGME21003,OGME22001).
文摘Offshore wind energy,as a form of renewable power,has seen rapid development in recent years.While fixedbottom wind turbines are typically used in water depths less than 50 m,the utilization of floating offshore wind turbines(FOWTs)becomes essential for deeper waters.Secure and effective mooring systems play a crucial role in making FOWTs commercially viable.The concept of a shared mooring system offers an innovative solution for deploying floating wind farms in clusters or arrays,which can reduce overall construction costs for large-scale floating wind farms.It is imperative to optimize the shared mooring arrangement for maximum cost-effectiveness and wind farm stability.However,implementing a shared mooring system introduces complexity to the dynamics of FOWTs,requiring the development of advanced simulation tools to meet modelling requirements.Under the shared mooring arrangement,mooring lines and anchors face more significant challenges,such as chain-seabed interactions,soil cyclic weakening,and anchor out-of-plane loading,which underscore the need for innovative,reliable,and efficient shared anchor designs.This article offers an overview of the current research status on shared mooring systems for floating wind farms,which might serve as a valuable reference for the construction of large-scale floating wind farms worldwide.
