China and Kazakhstan are reviewing the possibil-ity of building a pipeline to deliver natural gas fromwestern Kazakhstan to Xinjiang Uygur AutonomousRegion,on China’s western border,to satisfy the
China National Offshore Oil Co. (CNOOC) and two other companies had jointly signed two new production-sharing contracts to explore offshore oil and natural gas fields in Myanmar. CNOOCs Myanmar Ltd., China Huanqiu ...China National Offshore Oil Co. (CNOOC) and two other companies had jointly signed two new production-sharing contracts to explore offshore oil and natural gas fields in Myanmar. CNOOCs Myanmar Ltd., China Huanqiu Contracting and Engineering Corp. and Golden Aaron Pte. Ltd. of Singapore had signed contracts with展开更多
The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessari...The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessarily aggravate agency costs in levered firms. The corporate governance affects agency costs greatly. If debt-holders were entitled to design executive stock options together with stockholders, by allocating power properly between stockholders and debt-holders, firm value could be enhanced greatly. The following way of allocating power between the two parties is proposed: the exercise price should be the weighted average of the stockholders' and debt-holders' suggested exercise prices. The weight allocated to debt-holders is positively related to the amount of debts that debt-holders lend to stockholders.展开更多
Rising costs and an appreciation of the yuan currency are squeezing Chinese cotton textile companies,making nearly half of them wanting to quit,a new industry survey reveals.
Recent studies in complexity science have uncovered temporal regularities in the dynamics of impact along scientific and other creative careers, but they did not extend the obtained insights to firms. In this paper, w...Recent studies in complexity science have uncovered temporal regularities in the dynamics of impact along scientific and other creative careers, but they did not extend the obtained insights to firms. In this paper, we show that firms' technological impact patterns cannot be captured by the state-of-the-art dynamical models for the evolution of scientists' research impact, such as the Q model. Therefore, we propose a time-varying returns model which integrates the empiricallyobserved relation between patent order and technological impact into the Q model. The proposed model can reproduce the timing pattern of firms' highest-impact patents accurately. Our results shed light on modeling the differences behind the impact dynamics of researchers and firms.展开更多
With the measurement of dividend payout ratio, logistic regression index value and the firm size financing constraints, this paper investigated the investment behavior of China’s manufacturing firms over the period f...With the measurement of dividend payout ratio, logistic regression index value and the firm size financing constraints, this paper investigated the investment behavior of China’s manufacturing firms over the period from 1998 to 2003, and the relationship between financing constraints and corporate investment using the OLS regression method. The empirical evidence shows that there are certain extent financing constraints in China’s manufacturing firms, but the results are different with different variables to measure the financing constraints.展开更多
Differences in knowledge regimes and growth dynamics amongst four ideal types of knowledge based firms are analyzed. Two aspects of technological knowledge, technological opportunity and appropriability are traditiona...Differences in knowledge regimes and growth dynamics amongst four ideal types of knowledge based firms are analyzed. Two aspects of technological knowledge, technological opportunity and appropriability are traditionally seen as vital to understand the incentives for research and development activities in firms. However, they do not fully define the technology regimes, when one asks how the knowledge based firm competes. Therefore, the dynamic nature of firm capabilities and knowledge development in terms of expansion and in terms of deepening are also discussed. These two additional aspects of knowledge implies that even if all firms in an industry can be considered to be knowledge intensive these firms do also differ. Using cases of entrepreneurial start-up firms in Sweden, we illustrate whether our conceptual ideas of knowledge development help us understand the diversity and contradictions of firm evolution. Our finding is that firm evolution and capability development is dependent upon both the potential for expanding knowledge, such as by innovations, and by deepening the understanding within established knowledge, such as by learning. This implies that the shaping of a science based industry must be seen in relation both to the value of current knowledge and capabilities together with the sometimes only limited and temporarily advantages of radical innovations.展开更多
The aim of this article is to stress the importance of competencies to build network in the innovation process. Innovation is not only R＆D but is often supporting by networks and relations that differ according to th...The aim of this article is to stress the importance of competencies to build network in the innovation process. Innovation is not only R＆D but is often supporting by networks and relations that differ according to the size of the firm and the sector. We propose an empirical analysis, based on logit model, for French industrial firms. It appears that size and technological intensity of the sector affect positively the detention of networking competencies.展开更多
The Big Four is the name given to the top four professional consultancy firms of the world namely Pw C(Price Waterhouse Coopers), KPMG, Ernst and Young and Deloitte. These firms provide audit, accounting, taxation, fi...The Big Four is the name given to the top four professional consultancy firms of the world namely Pw C(Price Waterhouse Coopers), KPMG, Ernst and Young and Deloitte. These firms provide audit, accounting, taxation, financial and other professional consultancy to the clients(being businesses and companies). The paper discusses the reasons for the formation of the Big Four and the future aspects of the big four. It was found that the current market structure and the existing status of the Big Four will not change in the near future and there is near to impossible chances of new entrants in the auditing and accounting markets because of barriers to entry established by the Big Four in the existing market.展开更多
For this study of long-term spatial patterns and trends of active fires in southern hemispheric Africa and on Madagascar from 2001 to 2020,active fire data from the MODIS FIRMS global fire data products were analyzed....For this study of long-term spatial patterns and trends of active fires in southern hemispheric Africa and on Madagascar from 2001 to 2020,active fire data from the MODIS FIRMS global fire data products were analyzed.The annual center of fire concentration tended to migrate toward the preserved rainforests and nature conservation areas in the Congo Basin and the mountain forests on the northeastern coast of Madagascar.Fire frequency varied seasonally at both study areas.We used geo statistical analysis techniques,such as measures of dispersion and emerging hot spot analysis,to reveal long-term trends in spatial patterns of fire events.In southern hemispheric Africa,the observed active fires tended to drift northward toward the Zambia-DRC border in the Congo basin.This northward migration progressed toward humid rainforests,which were better suited to sustaining repeated fire events.On Madagascar,the observed active fires tended to migrate toward the east coast in protected mountain forests.The spatial patterns of long-term trends showed a concentration of fires in the tropical regions of southern hemispheric Africa.Moreover,smaller clusters of new hot spots were located over eastern South Africa,overlapping with undifferentiated woodlands.On Madagascar,both hot and cold spots were identified and were separated by the highland region in the center of the island.Most of the eastern island was characterized by cold spots that received less precipitation than did the rest of the island.The presence of increasing hots spots in the densely vegetated areas highlights the urgent need for fire prevention and management in this region.展开更多
Xylanase is a hemicellulase that can hydrolyses the complex polysaccharides.Hemicelluloses are main components of cell walls of cereal grains.Moreover,hemicelluloses are considered as potential sources of mono-and oli...Xylanase is a hemicellulase that can hydrolyses the complex polysaccharides.Hemicelluloses are main components of cell walls of cereal grains.Moreover,hemicelluloses are considered as potential sources of mono-and oligosaccharides.In this study,influence of xylanase on the physicochemical properties and sensory qualities of the whole wheat bread during storage was investigated.Studies of whole wheat bread on microstructure,texture,thermotics,Scanning Electron Microscopic(SEM),X-Ray Diffraction(XRD)were conducted at ambient temperature of 25 and 4◦C respectively.During storage at different temperatures,bread containing xylanase exhibited less firmness but larger volume with whiter crumb color and longer shelf life as compared to control bread.Results of firmness,enthalpy,Fourier Transformation Infra Red(FTIR)and X-Ray Diffraction(XRD)studies suggested a lower staling rate of bread containing xylanase as compared to control one.Bread containing xylanase showed a smoother surface and more uniform pore size than the control.Significant differences in microstructure of control and bread containing xylanase were observed which might be attributed due to the change in water starch gluten interaction.These differences were also found to be interrelated to the textural properties of bread.Better sensory features were achieved in bread containing xylanase.展开更多
文摘China and Kazakhstan are reviewing the possibil-ity of building a pipeline to deliver natural gas fromwestern Kazakhstan to Xinjiang Uygur AutonomousRegion,on China’s western border,to satisfy the
文摘China National Offshore Oil Co. (CNOOC) and two other companies had jointly signed two new production-sharing contracts to explore offshore oil and natural gas fields in Myanmar. CNOOCs Myanmar Ltd., China Huanqiu Contracting and Engineering Corp. and Golden Aaron Pte. Ltd. of Singapore had signed contracts with
文摘The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessarily aggravate agency costs in levered firms. The corporate governance affects agency costs greatly. If debt-holders were entitled to design executive stock options together with stockholders, by allocating power properly between stockholders and debt-holders, firm value could be enhanced greatly. The following way of allocating power between the two parties is proposed: the exercise price should be the weighted average of the stockholders' and debt-holders' suggested exercise prices. The weight allocated to debt-holders is positively related to the amount of debts that debt-holders lend to stockholders.
文摘Rising costs and an appreciation of the yuan currency are squeezing Chinese cotton textile companies,making nearly half of them wanting to quit,a new industry survey reveals.
基金Project supported by the National Natural Science Foundation of China (Grant Nos. 61673150 and 11622538)financial support from the URPP Social Networks at the University of Zurich+1 种基金the UESTC professor research start-up (Grant No. ZYGX2018KYQD215)the Science Strength Promotion Programme of UESTC,Chengdu。
文摘Recent studies in complexity science have uncovered temporal regularities in the dynamics of impact along scientific and other creative careers, but they did not extend the obtained insights to firms. In this paper, we show that firms' technological impact patterns cannot be captured by the state-of-the-art dynamical models for the evolution of scientists' research impact, such as the Q model. Therefore, we propose a time-varying returns model which integrates the empiricallyobserved relation between patent order and technological impact into the Q model. The proposed model can reproduce the timing pattern of firms' highest-impact patents accurately. Our results shed light on modeling the differences behind the impact dynamics of researchers and firms.
基金Funded by the Natural Science Foundation of China (No. 70372041).
文摘With the measurement of dividend payout ratio, logistic regression index value and the firm size financing constraints, this paper investigated the investment behavior of China’s manufacturing firms over the period from 1998 to 2003, and the relationship between financing constraints and corporate investment using the OLS regression method. The empirical evidence shows that there are certain extent financing constraints in China’s manufacturing firms, but the results are different with different variables to measure the financing constraints.
文摘Differences in knowledge regimes and growth dynamics amongst four ideal types of knowledge based firms are analyzed. Two aspects of technological knowledge, technological opportunity and appropriability are traditionally seen as vital to understand the incentives for research and development activities in firms. However, they do not fully define the technology regimes, when one asks how the knowledge based firm competes. Therefore, the dynamic nature of firm capabilities and knowledge development in terms of expansion and in terms of deepening are also discussed. These two additional aspects of knowledge implies that even if all firms in an industry can be considered to be knowledge intensive these firms do also differ. Using cases of entrepreneurial start-up firms in Sweden, we illustrate whether our conceptual ideas of knowledge development help us understand the diversity and contradictions of firm evolution. Our finding is that firm evolution and capability development is dependent upon both the potential for expanding knowledge, such as by innovations, and by deepening the understanding within established knowledge, such as by learning. This implies that the shaping of a science based industry must be seen in relation both to the value of current knowledge and capabilities together with the sometimes only limited and temporarily advantages of radical innovations.
文摘The aim of this article is to stress the importance of competencies to build network in the innovation process. Innovation is not only R＆D but is often supporting by networks and relations that differ according to the size of the firm and the sector. We propose an empirical analysis, based on logit model, for French industrial firms. It appears that size and technological intensity of the sector affect positively the detention of networking competencies.
文摘The Big Four is the name given to the top four professional consultancy firms of the world namely Pw C(Price Waterhouse Coopers), KPMG, Ernst and Young and Deloitte. These firms provide audit, accounting, taxation, financial and other professional consultancy to the clients(being businesses and companies). The paper discusses the reasons for the formation of the Big Four and the future aspects of the big four. It was found that the current market structure and the existing status of the Big Four will not change in the near future and there is near to impossible chances of new entrants in the auditing and accounting markets because of barriers to entry established by the Big Four in the existing market.
文摘For this study of long-term spatial patterns and trends of active fires in southern hemispheric Africa and on Madagascar from 2001 to 2020,active fire data from the MODIS FIRMS global fire data products were analyzed.The annual center of fire concentration tended to migrate toward the preserved rainforests and nature conservation areas in the Congo Basin and the mountain forests on the northeastern coast of Madagascar.Fire frequency varied seasonally at both study areas.We used geo statistical analysis techniques,such as measures of dispersion and emerging hot spot analysis,to reveal long-term trends in spatial patterns of fire events.In southern hemispheric Africa,the observed active fires tended to drift northward toward the Zambia-DRC border in the Congo basin.This northward migration progressed toward humid rainforests,which were better suited to sustaining repeated fire events.On Madagascar,the observed active fires tended to migrate toward the east coast in protected mountain forests.The spatial patterns of long-term trends showed a concentration of fires in the tropical regions of southern hemispheric Africa.Moreover,smaller clusters of new hot spots were located over eastern South Africa,overlapping with undifferentiated woodlands.On Madagascar,both hot and cold spots were identified and were separated by the highland region in the center of the island.Most of the eastern island was characterized by cold spots that received less precipitation than did the rest of the island.The presence of increasing hots spots in the densely vegetated areas highlights the urgent need for fire prevention and management in this region.
文摘Xylanase is a hemicellulase that can hydrolyses the complex polysaccharides.Hemicelluloses are main components of cell walls of cereal grains.Moreover,hemicelluloses are considered as potential sources of mono-and oligosaccharides.In this study,influence of xylanase on the physicochemical properties and sensory qualities of the whole wheat bread during storage was investigated.Studies of whole wheat bread on microstructure,texture,thermotics,Scanning Electron Microscopic(SEM),X-Ray Diffraction(XRD)were conducted at ambient temperature of 25 and 4◦C respectively.During storage at different temperatures,bread containing xylanase exhibited less firmness but larger volume with whiter crumb color and longer shelf life as compared to control bread.Results of firmness,enthalpy,Fourier Transformation Infra Red(FTIR)and X-Ray Diffraction(XRD)studies suggested a lower staling rate of bread containing xylanase as compared to control one.Bread containing xylanase showed a smoother surface and more uniform pore size than the control.Significant differences in microstructure of control and bread containing xylanase were observed which might be attributed due to the change in water starch gluten interaction.These differences were also found to be interrelated to the textural properties of bread.Better sensory features were achieved in bread containing xylanase.
