A Resilient Control Strategy for Cyber-Physical Systems Subject to Denial of Service Attacks:A Leader-Follower Set-Theoretic Approach

Multi-agent systems are usually equipped with open communication infrastructures to improve interactions efficiency,reliability and sustainability.Although technologically costeffective,this makes them vulnerable to cyber-attacks with potentially catastrophic consequences.To this end,we present a novel control architecture capable to deal with the distributed constrained regulation problem in the presence of time-delay attacks on the agents’communication infrastructure.The basic idea consists of orchestrating the interconnected cyber-physical system as a leader-follower configuration so that adequate control actions are computed to isolate the attacked unit before it compromises the system operations.Simulations on a multi-area power system confirm that the proposed control scheme can reconfigure the leader-follower structure in response to denial ofservice(DoS)attacks.

股权众筹中领投人制度对股权众筹融资效果实证研究

目前我国大多数股权众筹平台采取领投人制度,即"领投+跟投"模式。研究认为这种现象不是偶然的,提出观点认为领投人制度是减轻创业企业与投资者由于信息不对称而引发的逆向选择和道德风险问题的一种内生性制度安排。基于国内8家较大的股权众筹平台的交易数据,实证研究发现领投人的存在及领投人在投资金额中所占比例与项目融资成功概率、项目的融资完成率存在显著正向关系,从而印证了领投人制度在股权众筹中的积极作用。启示意义在于:股权众筹平台或项目发起方为了提高融资成功率和筹资数量,应充分考虑领投人的作用。

控股股东掏空、投资者保护与企业价值综述——基于LLSV研究范式的视角

LLSV研究范式正是建立在股权相对集中、两权部分分离基础上,研究控股股东与小股东及外部股东代理问题的一种全新范式。本文通过对1976-2010年64篇文献的研究发现:LLSV研究范式的发展分为两个阶段,即"掏空理论"阶段和"投资者保护理论"阶段;控股股东主要通过股票金字塔控制结构,以自利性交易和非资产性转移的方式谋求控制权私利;控股股东与企业存在四种关系,即掏空、掏空为主、支撑为主、支撑,当所有权与控制权严重偏离时,控股股东将以掏空企业为主要目的,企业价值下降;加强投资者保护能够有效抑制掏空行为的发生,提升企业价值。