The objective is to develop a model considering demand dependent on selling price and deterioration occurs after a certain period of time, which follows two-parameter Weibull distribution. Shortages are allowed and fu...The objective is to develop a model considering demand dependent on selling price and deterioration occurs after a certain period of time, which follows two-parameter Weibull distribution. Shortages are allowed and fully backlogged. Fuzzy optimal solution is obtained by considering hexagonal fuzzy numbers and for defuzzification Graded Mean Integration Representation Method. A numerical example is provided for the illustration of crisp and fuzzy, both models. To observe the effect of changes in parameters, sensitivity analysis is carried out.展开更多
We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction...We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.展开更多
Traditionally,food sustainability has been considered solely in the stage of agricultural production.However,globalization,the expansion of the food production industry,and the emergence of supermarket chains that con...Traditionally,food sustainability has been considered solely in the stage of agricultural production.However,globalization,the expansion of the food production industry,and the emergence of supermarket chains that control the retail food market require specific significant changes in supply chains in the food sector and,therefore,we need to address the economic,social,and environmental impacts of these events.On the other hand,social selling has increased rapidly in recent years,with a further boom,following current events related to the coronavirus disease(COVID-19).This explosion of social sales,where there are usually no control and regulation entities,can bring problems associated with mishandling items.In this paper,we expose how Blockchain technology supports the traceability of social sales by validating the data provided by the chain participants such as digital health passports,production and transport data in the sale process;the proposed solution generates recommendations on productmanagement considering the agreements previously made by the network actors.To evaluate the proposed smart contracts,we useHyperledger Caliper,obtaining an average throughput of 12.6 transactions per second and an average latency of 0.3 s for the asset update process.We also use a study case to evaluate the proposed project platform’s selling-transport stage using Internet of Things(IoT)sensors.展开更多
Nonverbal communication is the process of sending and receiving messages from another person through nonverbal channels.On the ground of importance and main codes of nonverbal communication,skills of which are propose...Nonverbal communication is the process of sending and receiving messages from another person through nonverbal channels.On the ground of importance and main codes of nonverbal communication,skills of which are proposed to grasp in commercial housing selling,serving well for the successful transaction.展开更多
The main purpose of this paper is to develop an inventory model under fuzzy approach by considering the effect of inflation and time value of money, to determine the optimal time period for inventory cycle and minimum...The main purpose of this paper is to develop an inventory model under fuzzy approach by considering the effect of inflation and time value of money, to determine the optimal time period for inventory cycle and minimum total average costs. The model is integrated production inventory model developed where;the Demand has a direct linear impact on production rate. The model can be divided into four stages. In the first two stages with original production rate and subsequent change in production rate, inventory level rises. Third stage is time after the accumulation of inventory and before the deterioration starts, where demand which selling price dependent is depreciating the inventory level, while in the fourth stage deterioration occurs, which is considered to follow two parameter Weibull distribution. The back-order is not considered. Hexagonal fuzzy numbers are used to derive optimum solution and defuzzification by graded mean integration representation method. A numerical example is given to demonstrate the applicability of the purposed model and sensitivity analysis is carried out to reveal the impact of change in parameter values.展开更多
THE story of Wudang swordsman Li Mubai is one that resonated with moviegoers across the globe. The thrilling martial arts sequences, sumptuous costumes and sweeping musical score of Ang Lee's four-time Academy Award-...THE story of Wudang swordsman Li Mubai is one that resonated with moviegoers across the globe. The thrilling martial arts sequences, sumptuous costumes and sweeping musical score of Ang Lee's four-time Academy Award-winning Crouching Tiger, Hidden Dragon (2000) ensured its position as one of the greatest non-Hollywood films of the new millennium and the highest-grossing foreign language film in Hollywood history.展开更多
Currently,the operational performance assessment system in the power market primarily focuses on power generation and electricity retail companies,lacking a system tailored to the operational characteristics of power ...Currently,the operational performance assessment system in the power market primarily focuses on power generation and electricity retail companies,lacking a system tailored to the operational characteristics of power generation/selling integrated companies.Therefore,this article proposes an assessment index system for assessing the operational performance of a power generation/selling integrated company,encompassing three dimensions:basic capacity,development potential,and external environment.A dynamic proportional adjustment coefficient is designed,along with a subjective and objective weighting model for assessment indexes based on a combined weightingmethod.Subsequently,the operational performance of an integrated company is assessed using extension theory.The results in the case study demonstrate the feasibility and effectiveness of the proposed dynamic proportional adjustment coefficient.展开更多
This review presents a comprehensive techno-economic and life-cycle assessment of sustainable aviation fuel(SAF)production from biomass.The critical need for transitioning towards environmentally sustainable alternati...This review presents a comprehensive techno-economic and life-cycle assessment of sustainable aviation fuel(SAF)production from biomass.The critical need for transitioning towards environmentally sustainable alternatives for liquid fuel and aviation industry is first discussed.Key insights encompass the evolutionary progression of biofuel production from first-generation to second-generation biofuels,with a focus on utilizing non-food sources like woody biomass for enhanced sustainability.Available data from the literature on techno-economic assessments of various SAF production pathways are analyzed including production costs,conversion efficiency,and scalability.Moreover,results of lifecycle assessments associated with different SAF production pathways are presented,providing essential insights for decision-making processes.The challenges of scaling up woody biomass-based SAF production are discussed based on the assessment results,and recommendations are proposed to steer stakeholders towards a greener and more sustainable trajectory for aviation operations.展开更多
With the rapid advancement of human economic levels and modern civilization,the automobile manufacturing industry is increasingly confronted with challenges related to energy scarcity and environmental pollution.Low c...With the rapid advancement of human economic levels and modern civilization,the automobile manufacturing industry is increasingly confronted with challenges related to energy scarcity and environmental pollution.Low carbon emissions and energy savings have become the main focus of automotive development.Under the influence of government incentives,the sales of household electric vehicles(EVs)have increased significantly,although they still represent a small share of the overall car market.To examine the factors influencing consumer purchases of household EVs,this report integrates both qualitative and quantitative analyses,controlling for single variables.Using linear regression,an empirical analysis was conducted on 18 BYD models with varying ranges and prices.The results indicate a strong positive correlation between driving range,selling price,and EV sales.Looking ahead,the development of new energy vehicles should prioritize longer ranges,high-quality features,and cost-effective performance.展开更多
Product diffusion refers to the phenomenon that the later demand is dependent on the early sales. To investigate how a firm's advance selling strategy is affected by the effect of product diffusion, we consider a mon...Product diffusion refers to the phenomenon that the later demand is dependent on the early sales. To investigate how a firm's advance selling strategy is affected by the effect of product diffusion, we consider a monopolist seller who sells a fashionable product in a market that comprises of myopic and strategic consumers over two periods (i.e., the advance selling season and the regular selling season). For a linear product diffusion effect we fred that, when the effect of product diffusion is positive, the seller may set an extremely high advance selling price to induce the strategic consumers to purchase in the regular selling season, which is counter-intuitive. Moreover, the optimal procurement quantity for the seller may increase in the negative effect of product diffusion and decrease in the amount of strategic consumers. When we extend our model to consider a concave quadratic product diffusion effect, however, the optimal procurement quantity is concave in the amount of strategic consumers. Numerical studies are further presented to discuss the managerial insights.展开更多
Using a quasi-natural experiment, this study examines the effects of margin trading and short selling on bond yield spread in China. It finds that both margin trading and short selling can reduce bond yield spread. Ad...Using a quasi-natural experiment, this study examines the effects of margin trading and short selling on bond yield spread in China. It finds that both margin trading and short selling can reduce bond yield spread. Additionally, it finds that margin trading lowers firms' debt ratios and increases their credit ratings, which explains the reduced spread. In other words, margin trading can impact investors' decisions by revealing positive information about a firm.Another finding is that short selling lowers the bond yield spread by decreasing earnings management, suggesting that short selling has an impact on investors' decisions through its effect on corporate governance. Our results suggest that margin trading transmits positive information and short selling impacts firms' policies. These results provide support for future regulations of margin trading and short selling.展开更多
In this paper, we examine the best time to sell a stock at a price being as close as possible to its highest price over a finite time horizon [0, T], where the stock price is modelled by a geometric Brownian motion an...In this paper, we examine the best time to sell a stock at a price being as close as possible to its highest price over a finite time horizon [0, T], where the stock price is modelled by a geometric Brownian motion and the 'closeness' is measured by the relative error of the stock price to its highest price over [0, T]. More precisely, we want to optimize the expression:V^*=sup 0≤τ≤T E[Vτ/MT],where (Vt)t≥0 is a geometric Drownian motion with constant drift α and constant volatility σ 〉 0, Mt = max Vs 0≤a〈t is the running maximum of the stock price, and the supremum is taken over all possible stopping times 0 ≤ τ≤T adapted to the natural filtration (Ft)t≥0 of the stock price. The above problem has been considered by Shiryacv, Xu and Zhou (2008) and Du Toit and Peskir (2009). In this paper we provide an independent proof that when α=1/ 2 σ^2 , a selling strategy is optimal if and only if it sells the stock either at the terminal time T or at the 1 2 moment when the stock price hits its maximum price so far. Besides, when α 〉1/2σ^2 , selling the stock at the terminal time T is the unique optimal selling strategy. Our approach to the problem is purely probabilistic and has been inspired by relating the notion of dominant stopping pr of a stopping time τ to the optimal stopping strategy arisen in the classical "Secretary Problem".展开更多
FAW Toyota Motor Sales Co. Ltd. (FTMS), a joint vehicle sales venture owned by auto giants China FAW Group Corp. and Toyota Motor Corp., was inaugurated in 2003 in an effort to strengthen the two firms' operations...FAW Toyota Motor Sales Co. Ltd. (FTMS), a joint vehicle sales venture owned by auto giants China FAW Group Corp. and Toyota Motor Corp., was inaugurated in 2003 in an effort to strengthen the two firms' operations in the world's fastest-growing auto market In the battle to sell cars in potentially the largest national auto market in the world, promoting your vehicles requires more than building a better mousetrap. Beijing Review talks with Wang Fachang, Executive Deputy General Manager of FTMS, to find out how he views the competition and the auto market in China as a whole.展开更多
TO sum up the year so far, the used business jet market started2019 slowly, but as things appear to be heating up many of the dealers and brokers I speak with are generally happy with the shape of today’s market and ...TO sum up the year so far, the used business jet market started2019 slowly, but as things appear to be heating up many of the dealers and brokers I speak with are generally happy with the shape of today’s market and are regularly completing transactions.But what does the quickening in activity that we’re seeing mean for today’s buyers and sellers?展开更多
For the past seven years,Kotler Marketing Group has been providing modern marketing management consulting services to many of China's most progres- sive large and mid-size companies.We know the enor- mous marketin...For the past seven years,Kotler Marketing Group has been providing modern marketing management consulting services to many of China's most progres- sive large and mid-size companies.We know the enor- mous marketing power of multi-national companies展开更多
文摘The objective is to develop a model considering demand dependent on selling price and deterioration occurs after a certain period of time, which follows two-parameter Weibull distribution. Shortages are allowed and fully backlogged. Fuzzy optimal solution is obtained by considering hexagonal fuzzy numbers and for defuzzification Graded Mean Integration Representation Method. A numerical example is provided for the illustration of crisp and fuzzy, both models. To observe the effect of changes in parameters, sensitivity analysis is carried out.
文摘We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.
基金The authors are grateful to the Telematics Engineering Group(GIT)and the Research Group for Rural Development(Tull)of the University of Cauca,and the Ministry of Science Technology and Innovation of Colombia(Minciencias)for the Ph.D.support granted to Cristian Valencia Payan,as well as the Project“Estrategias para la valorización de los dulces tradicionales de Popayán”(Código:110380863995)founded by Minciencias-Colombia(Contrato 127-2019).
文摘Traditionally,food sustainability has been considered solely in the stage of agricultural production.However,globalization,the expansion of the food production industry,and the emergence of supermarket chains that control the retail food market require specific significant changes in supply chains in the food sector and,therefore,we need to address the economic,social,and environmental impacts of these events.On the other hand,social selling has increased rapidly in recent years,with a further boom,following current events related to the coronavirus disease(COVID-19).This explosion of social sales,where there are usually no control and regulation entities,can bring problems associated with mishandling items.In this paper,we expose how Blockchain technology supports the traceability of social sales by validating the data provided by the chain participants such as digital health passports,production and transport data in the sale process;the proposed solution generates recommendations on productmanagement considering the agreements previously made by the network actors.To evaluate the proposed smart contracts,we useHyperledger Caliper,obtaining an average throughput of 12.6 transactions per second and an average latency of 0.3 s for the asset update process.We also use a study case to evaluate the proposed project platform’s selling-transport stage using Internet of Things(IoT)sensors.
文摘Nonverbal communication is the process of sending and receiving messages from another person through nonverbal channels.On the ground of importance and main codes of nonverbal communication,skills of which are proposed to grasp in commercial housing selling,serving well for the successful transaction.
文摘The main purpose of this paper is to develop an inventory model under fuzzy approach by considering the effect of inflation and time value of money, to determine the optimal time period for inventory cycle and minimum total average costs. The model is integrated production inventory model developed where;the Demand has a direct linear impact on production rate. The model can be divided into four stages. In the first two stages with original production rate and subsequent change in production rate, inventory level rises. Third stage is time after the accumulation of inventory and before the deterioration starts, where demand which selling price dependent is depreciating the inventory level, while in the fourth stage deterioration occurs, which is considered to follow two parameter Weibull distribution. The back-order is not considered. Hexagonal fuzzy numbers are used to derive optimum solution and defuzzification by graded mean integration representation method. A numerical example is given to demonstrate the applicability of the purposed model and sensitivity analysis is carried out to reveal the impact of change in parameter values.
文摘THE story of Wudang swordsman Li Mubai is one that resonated with moviegoers across the globe. The thrilling martial arts sequences, sumptuous costumes and sweeping musical score of Ang Lee's four-time Academy Award-winning Crouching Tiger, Hidden Dragon (2000) ensured its position as one of the greatest non-Hollywood films of the new millennium and the highest-grossing foreign language film in Hollywood history.
基金supported in part by the Science and Technology Innovation Program of Hunan Province under Grants 2023JJ40046 and 2023JJ30049.
文摘Currently,the operational performance assessment system in the power market primarily focuses on power generation and electricity retail companies,lacking a system tailored to the operational characteristics of power generation/selling integrated companies.Therefore,this article proposes an assessment index system for assessing the operational performance of a power generation/selling integrated company,encompassing three dimensions:basic capacity,development potential,and external environment.A dynamic proportional adjustment coefficient is designed,along with a subjective and objective weighting model for assessment indexes based on a combined weightingmethod.Subsequently,the operational performance of an integrated company is assessed using extension theory.The results in the case study demonstrate the feasibility and effectiveness of the proposed dynamic proportional adjustment coefficient.
文摘This review presents a comprehensive techno-economic and life-cycle assessment of sustainable aviation fuel(SAF)production from biomass.The critical need for transitioning towards environmentally sustainable alternatives for liquid fuel and aviation industry is first discussed.Key insights encompass the evolutionary progression of biofuel production from first-generation to second-generation biofuels,with a focus on utilizing non-food sources like woody biomass for enhanced sustainability.Available data from the literature on techno-economic assessments of various SAF production pathways are analyzed including production costs,conversion efficiency,and scalability.Moreover,results of lifecycle assessments associated with different SAF production pathways are presented,providing essential insights for decision-making processes.The challenges of scaling up woody biomass-based SAF production are discussed based on the assessment results,and recommendations are proposed to steer stakeholders towards a greener and more sustainable trajectory for aviation operations.
文摘With the rapid advancement of human economic levels and modern civilization,the automobile manufacturing industry is increasingly confronted with challenges related to energy scarcity and environmental pollution.Low carbon emissions and energy savings have become the main focus of automotive development.Under the influence of government incentives,the sales of household electric vehicles(EVs)have increased significantly,although they still represent a small share of the overall car market.To examine the factors influencing consumer purchases of household EVs,this report integrates both qualitative and quantitative analyses,controlling for single variables.Using linear regression,an empirical analysis was conducted on 18 BYD models with varying ranges and prices.The results indicate a strong positive correlation between driving range,selling price,and EV sales.Looking ahead,the development of new energy vehicles should prioritize longer ranges,high-quality features,and cost-effective performance.
文摘Product diffusion refers to the phenomenon that the later demand is dependent on the early sales. To investigate how a firm's advance selling strategy is affected by the effect of product diffusion, we consider a monopolist seller who sells a fashionable product in a market that comprises of myopic and strategic consumers over two periods (i.e., the advance selling season and the regular selling season). For a linear product diffusion effect we fred that, when the effect of product diffusion is positive, the seller may set an extremely high advance selling price to induce the strategic consumers to purchase in the regular selling season, which is counter-intuitive. Moreover, the optimal procurement quantity for the seller may increase in the negative effect of product diffusion and decrease in the amount of strategic consumers. When we extend our model to consider a concave quadratic product diffusion effect, however, the optimal procurement quantity is concave in the amount of strategic consumers. Numerical studies are further presented to discuss the managerial insights.
基金financial support from the National Science Foundation of China (Project No. 71602148)the MOE (Ministry of Education, China) Project of Humanities and Social Sciences (Project No. 16YJC630065)the Fundamental Research Funds for the Central Universities (Project No. 531107051035)
文摘Using a quasi-natural experiment, this study examines the effects of margin trading and short selling on bond yield spread in China. It finds that both margin trading and short selling can reduce bond yield spread. Additionally, it finds that margin trading lowers firms' debt ratios and increases their credit ratings, which explains the reduced spread. In other words, margin trading can impact investors' decisions by revealing positive information about a firm.Another finding is that short selling lowers the bond yield spread by decreasing earnings management, suggesting that short selling has an impact on investors' decisions through its effect on corporate governance. Our results suggest that margin trading transmits positive information and short selling impacts firms' policies. These results provide support for future regulations of margin trading and short selling.
基金supported by the Hong Kong RGC GRF 502909The Hong Kong Polytechnic University Internal Grant APC0D+1 种基金The Hong Kong Polytechnic University Collaborative Research Grant G-YH96supported by an internal grant of code 201109176016 from the University of Hong Kong
文摘In this paper, we examine the best time to sell a stock at a price being as close as possible to its highest price over a finite time horizon [0, T], where the stock price is modelled by a geometric Brownian motion and the 'closeness' is measured by the relative error of the stock price to its highest price over [0, T]. More precisely, we want to optimize the expression:V^*=sup 0≤τ≤T E[Vτ/MT],where (Vt)t≥0 is a geometric Drownian motion with constant drift α and constant volatility σ 〉 0, Mt = max Vs 0≤a〈t is the running maximum of the stock price, and the supremum is taken over all possible stopping times 0 ≤ τ≤T adapted to the natural filtration (Ft)t≥0 of the stock price. The above problem has been considered by Shiryacv, Xu and Zhou (2008) and Du Toit and Peskir (2009). In this paper we provide an independent proof that when α=1/ 2 σ^2 , a selling strategy is optimal if and only if it sells the stock either at the terminal time T or at the 1 2 moment when the stock price hits its maximum price so far. Besides, when α 〉1/2σ^2 , selling the stock at the terminal time T is the unique optimal selling strategy. Our approach to the problem is purely probabilistic and has been inspired by relating the notion of dominant stopping pr of a stopping time τ to the optimal stopping strategy arisen in the classical "Secretary Problem".
文摘While most record companies dismay,one music label employs a novel approach Internet consumers wary of free offers still flock to the website MicroMu.
文摘FAW Toyota Motor Sales Co. Ltd. (FTMS), a joint vehicle sales venture owned by auto giants China FAW Group Corp. and Toyota Motor Corp., was inaugurated in 2003 in an effort to strengthen the two firms' operations in the world's fastest-growing auto market In the battle to sell cars in potentially the largest national auto market in the world, promoting your vehicles requires more than building a better mousetrap. Beijing Review talks with Wang Fachang, Executive Deputy General Manager of FTMS, to find out how he views the competition and the auto market in China as a whole.
文摘TO sum up the year so far, the used business jet market started2019 slowly, but as things appear to be heating up many of the dealers and brokers I speak with are generally happy with the shape of today’s market and are regularly completing transactions.But what does the quickening in activity that we’re seeing mean for today’s buyers and sellers?
文摘For the past seven years,Kotler Marketing Group has been providing modern marketing management consulting services to many of China's most progres- sive large and mid-size companies.We know the enor- mous marketing power of multi-national companies