Modeling and Robustness of Knowledge Network in Supply Chain

The growth and evolution of the knowledge network in supply chain can be characterized by dynamic growth clustering and non-homogeneous degree distribution.The networks with the above characteristics are also known as scale-free networks.In this paper,the knowledge network model in supply chain is established,in which the preferential attachment mechanism based on the node strength is adopted to simulate the growth and evolution of the network.The nodes in the network have a certain preference in the choice of a knowledge partner.On the basis of the network model,the robustness of the three network models based on different preferential attachment strategies is investigated.The robustness is also referred to as tolerances when the nodes are subjected to random destruction and malicious damage.The simulation results of this study show that the improved network has higher connectivity and stability.

Analysis of the Tendency and Characteristics of the Cluster Development of the Strategic Emerging Industry in China

It is an important strategy to accelerate the cluster development of the strategic emerging industry for the economic and social development in China,which is also carried out in the transformation process at both the central and provincial levels.The cluster development of the strategic emerging industry embodies spatial agglomeration,being innovation- driven and industry convergence and so on,taking on such characteristics as the external promotion of the government policies,the internal promotion of the market mechanism.support of culture and tradition and the continuous impetus of innovation.In the backdrop of the present national conditions of China,we are proceeding from the primary stage to the mature stage of the cluster development of the strategic emerging industry.As for the advanced stage,the innovation- driven,cross- region and international cluster development will be realized.

Chaotic dynamic behavior analysis and control for a financial risk system

According to the risk management process of financial markets,a financial risk dynamic system is constructed in this paper.Through analyzing the basic dynamic properties,we obtain the conditions for stability and bifurcation of the system based on Hopf bifurcation theory of nonlinear dynamic systems.In order to make the system＇s chaos disappear,we select the feedback gain matrix to design a class of chaotic controller.Numerical simulations are performed to reveal the change process of financial market risk.It is shown that,when the parameter of risk transmission rate changes,the system gradually comes into chaos from the asymptotically stable state through bifurcation.The controller can then control the chaos effectively.

Periodical Inspections and Delay Replacement Model Based on Age Preventive Replacement Policy

Periodical inspections and an age-based preventive replacement( APR) model were proposed based on a two-stage failure process for a single component system. Inspection activities were performed at regular intervals. Once the system was identified to be at defective state by inspection,a maintenance decision needed to be made that whether to replace the defective system immediately or wait till the preset APR time. So a threshold was introduced into the model and called as inspection-based preventive replacement( IPR) threshold. If the distance from the defect identification point to the APR time was longer than the threshold, a preventive replacement( PR) action was made; otherwise PR action was to wait till the APR time. Two models were proposed and compared,and a numerical example was conducted to illustrate the applicability of the model.

Migration Experience of Village Leaders and Local Economic Development:Evidence from Rural China

这份报纸在本地经济开发检验村庄领导人的移植经验的影响，基于 2005 中国一般社会调查的村庄级的数据。我们村庄领导人的人的首都在迁居时期期间积累了的结果表演在农村中国在人均的网收入和人均的非农业的收入上有积极效果。村庄领导人的迁居经验也在农村区域在企业的活动起一个积极作用。从一个政策观点，到利用潜力的重要性的这些调查结果调用注意在农村中国回来移植受益到本地经济开发。

Load Dependent Series-Parallel Systems with Common Bus Performance Sharing Mechanism

A series-parallel system was proposed with common bus performance sharing in which the performance and failure rate of the element depended on the load it was carrying. In such a system,the surplus performance of a sub-system can be transmitted to other deficient sub-systems. The transmission capacity of the common bus performance sharing mechanism is a random variable. Effects of load on element performance and failure rate were considered in this paper. A reliability evaluation algorithm based on the universal generating function technique was suggested. Numerical experiments were conducted to illustrate the algorithm.

Determining pledged loan-to-value ratio:an option pricing perspective

Background:We investigated the determination of the pledged loan-to-value ratio in an optionpricing environment and mainly articulated the theoretical framework and analytical method.Methods:The basic idea is that the present value of the pledged loan payoff is equal to a put option’s value.While the interest rate is fixed and the loan is without coupon,we analyzed the pledged loan-to-value ratioin the option pricing perspective and got it that the pledged loan-to-value ratio is decided by term,excessreturn,and the value volatility of the pledge.Next,we extended the same work to coupon loan and portfoliopledge circumstances.For zero coupon and fixed interest rate circumstances,we performed a numericalanalysis.Results:Our results indicate the following:the pledged loan-to-value ratio is a convex decreasing function ofthe term;and the pledged loan-to-value ratio is a concave decreasing function of the value volatility of the pledge;and the pledged loan-to-value ratio is a concave increasing function of the risk premium.For floating interest rate circumstances,we should specify the function form between the loan interest and the risk-free rate.Conclusions:The scientific measurement of the pledged loan-to-value ratio means that simple rules of thumb or the VaR method may lead to mispricing,which could create the possibility of arbitrage.In this way,a new direction for trading derivative products of pledges will be provided.

Multiple Objective Test Design for Accelerated Destructive Degradation Tests

Accelerated destructive degradation tests(ADDTs)are powerful to provide reliability information in the degradation processes with destructive measurements.In order to carry out an ADDT efficiently,both the estimation precision of parameters and the test cost should be considered.On the basis of the given degradation model and failure criterion,a multiple-objective optimization model for the design of ADDTs is proposed.Under constrains of the maximum measurement time,the total sample size and the number of stress levels,a comprehensive target function is suggested to reflect both the precision of lifetime estimation and total cost,and the optimal test plan is obtained,which is composed by optimal choices for samples size,measurement frequency,and the number of measurements at each stress level.A real example is illustrated to demonstrate the implementation of the proposed approach.

Risk Attitudes and Self-employment in China

Using the 2006 wave of the Chinese General Social Survey, the present paper examines the effect of risk attitudes on the likelihood of entrepreneurship in China. Our results show that risk attitudes have a nonlinear effect on the likelihood of being entrepreneurs. Risk neutral people are most likely to be entrepreneurs, while both risk averse and risk seeking people prefer to work for wages. When we further divide entrepreneurs into necessity and opportunity entrepreneurs, we find only a marginal difference in risk attitudes between wage workers and necessity entrepreneurs, while less risk averse individuals tend to be opportunity entrepreneurs. Our results have important poliey implications for the government ＂s efforts to promote entrepreneurial activities.

Do business groups affect corporate cash holdings?Evidence from a transition economy

We examine whether business groups' influence on cash holdings depends on ownership. Group affiliation can increase firms' agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult external capital acquisition. A hand-collected dataset of Chinese firms reveals that group affiliation decreases cash holdings, alleviating the free-cash-flow problem of agency costs.State ownership and control of listed firms moderate this benefit, which is more pronounced when the financial market is less liquid. Group affiliation facilitates related-party transactions, increases debt capacity and decreases investmentcash-flow sensitivity and overinvestment. In transitional economies, privately controlled firms are more likely to benefit from group affiliation than statecontrolled firms propped up by the government.