The Interrelationship between Culture and Capital Structure:Evidence from International Retailers

The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.

Design of Cold-Junction Compensation and Disconnection Detection Circuits of Various Thermocouples and Implementation of Multi-Channel Interfaces Using Them-A Secondary Publication

Cold-junction compensation(CJC)and disconnection detection circuit design of various thermocouples(TC)and multi-channel TC interface circuits were designed.The CJC and disconnection detection circuit consists of a CJC semiconductor device,an instrumentation amplifier(IA),two resistors,and a diode for disconnection detection.Based on the basic circuit,a multi-channel interface circuit was also implemented.The CJC was implemented using compensation semiconductor and IA,and disconnection detection was detected by using two resistors and a diode so that IA input voltage became-0.42 V.As a result of the experiment using R-type TC,the error of the designed circuit was reduced from 0.14 mV to 3μV after CJC in the temperature range of 0°C to 1400°C.In addition,it was confirmed that the output voltage of IA was saturated from 88 mV to-14.2 V when TC was disconnected from normal.The output voltage of the designed circuit was 0 V to 10 V in the temperature range of 0°C to 1400°C.The results of the 4-channel interface experiment using R-type TC were almost identical to the CJC and disconnection detection results for each channel.The implemented multi-channel interface has a feature that can be applied equally to E,J,K,T,R,and S-type TCs by changing the terminals of CJC semiconductor devices and adjusting the IA gain.

Multi-channel terahertz focused beam generator based on shared-aperture metasurface

Most of existing metasurfaces usually have limited channel behavior,which seriouslyhinders their development and application.In this paper,we propose a multi-channel terahertz focused beam generator based on shared-aperture metasurface,and the generator consists of a top square metal strip,a middle layer of silica and a metal bottom plate.By changing the position and size of the shared-aperture array,the designed metasurface can generate any number of multi-channel focusing beams at different predicted positions.In addition,the energy intensity of focusing beams can be controlled.The full-wave simulation results show that the metasurface achieves four-channel vortex focused beam generation with different topological charges,and five-,six-,eight-channel focused beam generation with different energy intensities at a frequency of 1 THz,which are in good agreement with the theoretically calculated predictions.This work can provide a new idea for designing the terahertz multichannel devices.

Fast pre-stack multi-channel inversion constrained by seismic reflection features

Classical multi-channel technology can significantly reduce the pre-stack seismic inversion uncertainty, especially for complex geology such as high dipping structures. However, due to the consideration of complex structure or reflection features, the existing multi-channel inversion methods have to adopt the highly time-consuming strategy of arranging seismic data trace-by-trace, limiting its wide application in pre-stack inversion. A fast pre-stack multi-channel inversion constrained by seismic reflection features has been proposed to address this issue. The key to our method is to re-characterize the reflection features to directly constrain the pre-stack inversion through a Hadamard product operator without rearranging the seismic data. The seismic reflection features can reflect the distribution of the stratum reflection interface, and we obtained them from the post-stack profile by searching the shortest local Euclidean distance between adjacent seismic traces. Instead of directly constructing a large-size reflection features constraint operator advocated by the conventional methods, through decomposing the reflection features along the vertical and horizontal direction at a particular sampling point, we have constructed a computationally well-behaved constraint operator represented by the vertical and horizontal partial derivatives. Based on the Alternating Direction Method of Multipliers (ADMM) optimization, we have derived a fast algorithm for solving the objective function, including Hadamard product operators. Compared with the conventional reflection features constrained inversion, the proposed method is more efficient and accurate, proved on the Overthrust model and a field data set.

More and More Retail Brands Integrate ESG into Development

Recently, Savills and the U.S. Green Building Council released Sustainable Retail-Staying on Track(hereinafter the report), which pointed out that the ranking of the 20-city retailer index in 2022 changed the most in the past five years, but that Shanghai, Beijing, Shenzhen and Chengdu are still among the top four retailers in 2022. The sustainable retail index of coastal cities including Ningbo, Qingdao and Xiamen has greatly improved.

Assessment of the Retail Food Environment Using Integrated GIS and Modified Measures in Wuhan, China

The retail food environment (RFE) has a significant impact on people’s dietary behavior and diet-related outcomes. Although RFE research has received a lot of attention, there are very few studies that shed light on the foodscape and assessment methodologies in the China context. Based on open data obtained from Dianping.com and AutoNavi map, we classified all food outlets into six types. Geographic Information Systems (GIS) techniques were employed to create two network buffer areas (1-km and 3-km) and calculate the absolute measures and relative measures (i.e., mRFEI and Rmix). We modified the calculation of relative measures by adding items and assigning weights. The mean mRFEI using the 1-km and 3-km buffer sizes across the communities were 10.45 and 20.12, respectively, while the mean mRmix of the two buffer sizes were 20.97 and 58.04, indicating that residents in Wuhan have better access to fresh and nutritious food within 3-km network buffers. Residents in urban areas are more likely to be exposed to an unhealthy food environment than those in rural areas. Residents in Xinzhou and Qiaokou districts are more likely to be subjected to unfavorable neighborhood RFE. The open data-driven methods for assessing RFE in Wuhan, China may guide community-level food policy interventions and promote active living by shifting built environments to increase residents’ access to healthy food.

Opportunistic Routing with Multi-Channel Cooperative Neighbour Discovery

Due to the scattered nature of the network,data transmission in a dis-tributed Mobile Ad-hoc Network(MANET)consumes more energy resources(ER)than in a centralized network,resulting in a shorter network lifespan(NL).As a result,we build an Enhanced Opportunistic Routing(EORP)protocol architecture in order to address the issues raised before.This proposed routing protocol goal is to manage the routing cost by employing power,load,and delay to manage the routing energy consumption based on theflooding of control pack-ets from the target node.According to the goal of the proposed protocol techni-que,it is possible to manage the routing cost by applying power,load,and delay.The proposed technique also manage the routing energy consumption based on theflooding of control packets from the destination node in order to reduce the routing cost.Control packet exchange between the target and all the nodes,on the other hand,is capable of having an influence on the overall efficiency of the system.The EORP protocol and the Multi-channel Cooperative Neighbour Discovery(MCCND)protocol have been designed to detect the cooperative adja-cent nodes for each node in the routing route as part of the routing path discovery process,which occurs during control packet transmission.While control packet transmission is taking place during the routing path discovery process,the EORP protocol and the Multi-channel Cooperative Neighbour Discovery(MCCND)protocol have been designed to detect the cooperative adjacent nodes for each node in the routing.Also included is a simulation of these protocols in order to evaluate their performance across a wide range of packet speeds using Constant Bit Rate(CBR).When the packet rate of the CBR is 20 packets per second,the results reveal that the EORP-MCCND is 0.6 s quicker than the state-of-the-art protocols,according to thefindings.Assuming that the CBR packet rate is 20 packets per second,the EORP-MCCND achieves 0.6 s of End 2 End Delay,0.05 s of Routing Overhead Delay,120 s of Network Lifetime,and 20 J of Energy Consumption efficiency,which is much better than that of the state-of-the-art protocols.

Optimization of Electricity Purchase and Sales Strategies of Electricity Retailers under the Condition of Limited Clean Energy Consumption

In the process of my country’s energy transition,the clean energy of hydropower,wind power and photovoltaic power generation has ushered in great development,but due to the randomness and volatility of its output,it has caused a certain waste of clean energy power generation resources.Regarding the purchase and sale of electricity by electricity retailers under the condition of limited clean energy consumption,this paper establishes a quantitative model of clean energy restricted electricity fromthe perspective of power system supply and demand balance.Then it analyzes the source-charge dual uncertain factors in the electricity retailer purchasing and selling scenarios in the mid-to long-term electricity market and the day-ahead market.Through the multi-scenario analysis method,the uncertain clean energy consumption and the user’s power demand are combined to form the electricity retailer’s electricity purchase and sales scene,and the typical scene is obtained by using the hierarchical clustering algorithm.This paper establishes a electricity retailer’s risk decisionmodel for purchasing and selling electricity in themid-and long-term market and reduce-abandonment market,and takes the maximum profit expectation of the electricity retailer frompurchasing and selling electricity as the objective function.At the same time,in themediumand longterm electricity market and the day-ahead market,the electricity retailer’s purchase cost,electricity sales income,deviation assessment cost and electricity purchase and sale risk are considered.The molecular results show that electricity retailers can obtain considerable profits in the reduce-abandonment market by optimizing their own electricity purchase and sales strategies,on the premise of balancing profits and risks.

Customer Segment Prediction on Retail Transactional Data Using K-Means and Markov Model

Retailing is a dynamic business domain where commodities and goods are sold in small quantities directly to the customers.It deals with the end user customers of a supply-chain network and therefore has to accommodate the needs and desires of a large group of customers over varied utilities.The volume and volatility of the business makes it one of the prospectivefields for analytical study and data modeling.This is also why customer segmentation drives a key role in multiple retail business decisions such as marketing budgeting,customer targeting,customized offers,value proposition etc.The segmentation could be on various aspects such as demographics,historic behavior or preferences based on the use cases.In this paper,historic retail transactional data is used to segment the custo-mers using K-Means clustering and the results are utilized to arrive at a transition matrix which is used to predict the cluster movements over the time period using Markov Model algorithm.This helps in calculating the futuristic value a segment or a customer brings to the business.Strategic marketing designs and budgeting can be implemented using these results.The study is specifically useful for large scale marketing in domains such as e-commerce,insurance or retailers to segment,profile and measure the customer lifecycle value over a short period of time.

得零售者可以得天下——基于银行利润效率视角

零售业务作为商业银行的基础业务和战略性业务,已经成为中国银行业整体收入增长的主要动力。本文以我国48家商业银行2011—2021年的数据为研究对象,以产出定位的非单调异质性随机前沿方法为基础,测度了商业银行的利润效率水平,并利用2SLS探究零售业务对银行利润效率的整体影响。研究发现,银行零售业务的发展能够有效地提高银行的利润效率,尤其是信用卡业务对利润效率的正向影响最大,个人住房抵押贷款对利润效率的影响次之,消费贷和经营贷的影响最小;第二,国有银行、股份制银行的零售业务对利润效率的促进程度远高于城商行和农商行;第三,中国银行业利润效率整体呈上升趋势,其中,股份制银行的利润效率水平位居榜首,城商行利润效率自2011年以来一路上升,2021年增长到0.5872,而农商行的利润效率水平最低。

县域农产品网络零售发展的影响因素与组态路径——基于34个县域案例的清晰集定性比较分析

基于TOE框架,依据我国34个县域案例,运用清晰集定性比较分析方法,探讨技术、组织、环境条件对县域农产品网络零售发展影响因素的联动效应及其路径选择,探索性地识别出三类推动县域农产品网络零售快速发展的适配性方案。研究发现,单一条件不是县域农产品网络零售快速发展的必要条件,某个或某些方面不具优势的县域,可以通过组态路径实现快速发展;促使农产品网络零售快速发展具有多样化的组态路径,且不同县域农产品网络零售快速发展的路径存在差异,不同条件的变量组合可以实现殊途同归,这些组态可分为组织驱动型、环境驱动型和组织环境驱动型三种;行业发展水平和财政支农力度是农产品网络零售快速发展普遍需求的两个核心条件,表明农产品网络零售发展需要产业结构转型和财政资金的支持;对数字技术水平较高的县域,在维持一定的政策制度保障和财政支农力度下,行业发展水平可以和特色品牌塑造相互替代。县域需要综合考虑多种条件的联动作用,提升行业发展水平、加大财政支持力度、夯实政策制度保障、强化数字技术支撑和提升特色品牌价值,充分发挥技术、组织和环境条件之间的协同效应,因地制宜采取符合自身实际的组合路径,促进农产品网络零售高质量发展,助力农民增收创收和乡村全面振兴。

数字经济赋能零售企业国际化:机制、制约与对策

中国零售企业依托数字技术加快国际化,融入或主导构建全球供应链的探索有助于服务构建新发展格局。从价值共创的理论视角看,数字经济赋能零售企业国际化的机制包括与消费者、供应商和同业企业的价值共创。当前数字经济赋能中国零售企业国际化的效应已初步显现,但仍处于起步阶段,存在采购国际化中数字经济赋能主体范围与环节有限、店铺运营国际化尚未形成规模效应、专业技能国际转移面临全球数字贸易规则博弈带来的不确定性等问题与制约。文章建议引导零售企业协同多方主体推进采购国际化,政策赋能推动零售企业店铺运营国际化,提升数字话语权为零售专业技能国际转移护航,并在数字“一带一路”框架下推进零售企业国际化。

门诊共济保障方式改革、零售药店发展与处方流转

职工医保门诊共济保障改革是完善基本医保制度的重大举措。本次改革将符合条件的定点零售药店纳入门诊统筹报销,为零售药店的高质量发展带来重大机遇。门诊共济保障改革以及零售药店实现高质量发展的关键环节是医院处方的流转。本文认为,处方流转的主要障碍一是处方管理及药品使用安全管理上的部门分割以及由此带来的风险责任冲突及利益冲突,二是零售药店本身的经营与管理模式还难以适应处方的风险管理要求。实现处方的畅通流转一是要坚持“三医”协同治理,建立处方管理及药品使用安全管理全链条监管机制,打破部门分割,充分尊重参与各方的管理要求及利益诉求;二是零售药店要转变运营模式,提升药事服务和商业服务能力,适应门诊共济保障改革后处方流转的要求。

考虑配送交通风险的新零售平台、骑手及消费者三方演化博弈分析

新零售行业中配送骑手的交通事故比率不断攀升引起了社会的广泛关注。骑手出于对配送超时和消费者投诉的担心,在配送途中选择超速违章,从而增加交通风险。为避免消费者对配送超时进行投诉,越来越多的平台企业主动建立超时补偿机制,即对配送超时为消费者提供补偿。该补偿机制能否有效减少消费者投诉,进而影响骑手的配送行为,降低其配送中的交通风险,是值得研究的重要问题。构建由新零售平台、骑手及消费者组成的三方演化博弈模型,其中,平台决定是否建立针对消费者的超时补偿机制,骑手在不同风险程度的配送行为之间进行选择,而消费者则决定在超时情况下是否进行投诉。研究发现:平台对于骑手超时的直接惩罚额度是影响骑手的策略中最关键的影响因素。当直接惩罚额度较大时,平台、消费者的任何策略选择都无法改变骑手普遍向高风险配送策略演化的“骑手困境”情况;当直接惩罚额度适中,建立超时补偿机制给平台企业带来的直接效用较大,且平台与消费者普遍对骑手更具有同理心时,三方演化策略均衡可以达到理想状态:平台建立主动补偿机制、骑手低风险配送、消费者对于订单超时选择不投诉。

基于隐喻抽取技术的烟草商业企业客户服务体验研究

近年来,随着烟草企业数字化转型不断推进、新型客我关系逐步建立、工商零协同营销不断深入,卷烟营销队伍转型升级已然势在必行。以ZMET隐喻抽取技术和扎根理论为理论基础,通过对烟草零售客户关于卷烟营销工作服务体验的调研,构建零售客户的体验心智模型,从而了解对于服务对象而言,成功开展卷烟营销工作包含的属性元素、用户需求以及价值,形成H(属性)、C(用户需求)、V(价值)共识地图,进而找出当前卷烟营销一线人员在市场营销服务工作中存在的问题。最后,从行业、企业、员工三个层面提出烟草营销队伍转型的建议。

考虑消费者换购行为的全渠道零售商退货策略

文章考虑线上消费者跨渠道退货时存在的换购行为,建立全渠道零售商实施同渠道退货策略和全渠道退货策略时的线上及线下渠道定价模型,研究零售商的退货策略选择及其对最优定价的影响。研究结果表明,在消费者线上退货麻烦成本较高的情形下,全渠道退货策略的实施有效地提升了线上市场及线下市场的最优定价,但该策略的实施可能对线上及线下市场产生需求减少效应。零售商的退货策略选择受如下因素影响:当消费者的线上退货麻烦成本、产品匹配率较高时,全渠道退货策略的引流作用凸显,该策略成为零售商的占优策略;而对零售商而言,线上及线下渠道较高的运营效率能给零售商带来成本优势,使得全渠道退货策略占优。

新零售背景下安徽省零售业与物流业耦合研究

新零售风暴的来袭加快物流业发展,物流系统更是向智慧物流体系转型。以安徽省为例,选择2016—2020年安徽省零售业与物流业的相关数据,利用耦合协调模型和灰色关联度模型进行实证分析,结果表明:2016至2020年安徽省零售业与物流业耦合程度不断提高,从中度失调过渡到勉强协调。零售业与物流业发展关联度较大,具备联动发展的基础。针对分析结果提出促进零售业转型升级、构建全渠道物流、加强物流基础设施建设、创新物流业态模式、培养物流专业人才的建议。

监管型小股东对股价同步性的影响研究

基于2016年2月中证中小投资者服务中心(简称投服中心)持股行权试点的研究场景,采用双重差分法考察投服中心对公司股价同步性的影响。研究发现:作为监管型小股东,投服中心持股行权降低了公司的股价同步性。进一步地,投服中心对股价同步性的影响在分析师关注度较低、媒体报道较少时更显著。机制检验显示,投服中心成立后上市公司的信息披露质量提高,管理层业绩预告质量改善,产生了信息效应;投服中心行权引起媒体和监管部门的关注,可减少大股东的利益侵占行为,提高中小股东参与股东大会的积极性,发挥出治理效应。

人工智能时代快消品即时物流发展研究

对于快消品这类民生商品,新冠疫情促进了多业态的电商平台的发展与壮大,行业竞争加剧,很大程度上挤占了广大中小微商家的生存空间,只有提升即时配送服务质量才是顺应即时零售趋势的务实之选;同时,即时物流反哺即时零售,也是现代物流新的增长点。人工智能时代,要搭建多平台链接下的多元仓配系统及多元运力体系,基于供应链做好精细化运营管理,从把控供应链、强化物流管理、技术创新以及提升服务体验等来发力即时物流,以满足消费者对快消品商品“多、快、好、省”的追求。所以,即时物流是市场发展的必然选择,也是平台竞争的有力武器。

C学院现代物流管理专业校企合作“新零售”实践教学基地建设探究

当前,高职院校校企合作共建实践教学基地过程中还存在着企业参与积极性不够、难从校企合作中直接获利、政策支持不完善等问题。通过分析C学院现代物流管理专业与R零售连锁集团之间校企合作“新零售”实践教学基地的建设,归纳了两者合作的途径主要包括:构建组织结构、建立运行规则、打造师资队伍、丰富实践形式、共同申报科研项目等。并在此基础上,提出了推进校企合作共建实践教学基地工作的建议:找到校企双方的合作契合点;提供政策支持;建立合作效果评价体系。