Search results for: China stock market

Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, M. Saghareishvili

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The article discusses the consumer market of agricultural products and agricultural policy in Georgia. It is noted that development of the strategic areas of the agricultural sector needs a special support. These strategic areas should create the country's major export potential. It is important to develop strategies to access to the international markets, form extensive marketing network etc., which will become the basis for the promotion and revenue growth of the country. The Georgian agricultural sector, with the right state policy and support, can achieve success and gain access to the world market with competitive agricultural products. The paper discusses the current condition of agriculture, export and import of agricultural products and agricultural policy in Georgia. The conducted research concludes the information that there is an increasing demand on the green goods in the world market. Natural and climatic conditions of Georgia give a serious possibility of implementing it. The research presents an agricultural development strategy in Georgia and the findings and based on them recommendations are proposed.

Keywords: agriculture, export-import of agricultural products, agricultural cooperative society, agricultural policy, agricultural insurance

Procedia PDF Downloads 296

Authors: Adamu Danlami Ahmed

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Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31^st December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse.

Keywords: finished goods, work in progress, financial performance, inventory

Procedia PDF Downloads 214

Authors: Mutiat Temitayo James, Oladapo Olakunle James, Kabiru Oyetunde

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This paper examines occupational segregation by sex and sought to justify a case for its elimination or not. In doing this, we found that occupations are categorised among men and women in all parts of the world and this, in turn, affects the labour force participation rate of men and women in different sectors and aspects of the labour market. Data from the previous study shows that women are the most discriminated against as regards occupational segregation as many high profile jobs are regarded as men’s job and women relegated to the background. This has brought about low productivity for women and inequity in the labour market which can hinder the productivity levels of participants. It was however recommended that occupational segregation should be eliminated totally so that men and women alike can choose occupations of their choice irrespective of what gender the society ascribe to such occupation.

Keywords: occupation, gender, gender equality, labour market, segregation, discrimination

Procedia PDF Downloads 1387

Authors: Jules Selles

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The Atlantic and Mediterranean bluefin tuna fishery have been considered as the archetype of an overfished and mismanaged fishery. This crisis has demonstrated the role of public awareness and the importance of the interactions between science and management about scientific uncertainties. This work aims at investigating the policy making process associated with a regional fisheries management organization. We propose a contextualized computer-based experimental approach, in order to explore the effects of key factors on the cooperation process in a complex straddling stock management setting. Namely, we analyze the effects of the introduction of a socio-economic tipping point and the uncertainty surrounding the estimation of the resource level. Our approach is based on a Gordon-Schaefer bio-economic model which explicitly represents the decision making process. Each participant plays the role of a stakeholder of ICCAT and represents a coalition of fishing nations involved in the fishery and decide unilaterally a harvest policy for the coming year. The context of the experiment induces the incentives for exploitation and collaboration to achieve common sustainable harvest plans at the Atlantic bluefin tuna stock scale. Our rigorous framework allows testing how stakeholders who plan the exploitation of a fish stock (a common pool resource) respond to two kinds of effects: i) the inclusion of a drastic shift in the management constraints (beyond a socio-economic tipping point) and ii) an increasing uncertainty in the scientific estimation of the resource level.

Keywords: economic experiment, fisheries management, game theory, policy making, Atlantic Bluefin tuna

Procedia PDF Downloads 233

Authors: William Feng, Qingyu Gao

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Despite the extensive discussions about Hong Kong’s sentiments towards the Chinese Mainland since the sovereignty transfer in 1997, there has been no large-scale empirical analysis of the changing attitudes in the mainstream media, which both reflect and shape sentiments in the society. To address this gap, the present study uses an optimised semantic-based automatic sentiment analysis method to examine a corpus of news about China from 1997 to 2020 in three main Chinese-language newspapers in Hong Kong, namely Apple Daily, Ming Pao, and Oriental Daily News. The analysis shows that although the Hong Kong press had a positive emotional tone toward China in general, the overall trend of sentiment was becoming increasingly negative. Meanwhile, the alignment and antagonism toward China have both increased, providing empirical evidence of attitudinal polarisation in the Hong Kong society. Specifically, Apple Daily’s depictions of China have become increasingly negative, though with some positive turns before 2008, whilst Oriental Daily News has consistently expressed more favourable sentiments. Ming Pao maintained an impartial stance toward China through an increased but balanced representation of positive and negative sentiments, with its subjectivity and sentiment intensity growing to an industry-standard level. The results provide new insights into the complexity of sentiments towards China in the Hong Kong press and media attitudes in general in terms of the “us” and “them” positioning by explicating the cross-newspaper and cross-period variations using an enhanced sentiment analysis method which incorporates sentiment-oriented and semantic role analysis techniques.

Keywords: media attitude, sentiment analysis, Hong Kong press, one country two systems

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Authors: Sania Ashraf

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The paper focuses on the prevalence of informational efficiency and integration of GCC Shariah Equity market for the period of 01st January 2010 to 31st June 2015 with daily equity returns of Kuwait, Oman, Qatar, Bahrain, Saudi Arabia and United Arab Emirates. The study employs traditional as well as the modern approach of tracing out the efficiency and integration in the return series. From the results of efficiency it was observed that the market lacked efficiency in terms of its past information. The results of integration test clearly indicates that there was a long memory in the returns of GCC Shariah during the study period. Hence it was concluded and proved that the returns of all GCC Equity Shariah were not informationally efficient but fractionally integrated during the study period.

Keywords: efficiency, Fama, GCC shariah, hurst exponent, integration, serial correlation

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Authors: Alvarez Magañini, María Victoria-Rubbi, Lautaro Nahuel

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At present, we are facing an unstable international context, conditioned by a relative decline of the US power, primarily in the economic sphere and, to a lesser extent, in the military sphere. This scenario of multipolarity creates tension and uncertainty in the peripheral countries when the issue of their foreign policy arises. This paper presents an analysis of the bilateral relations that were maintained by the Argentine Republic, a peripheral country, along with the United States and China during the period of 2005-2015 in matters of defense in order to identify the empirical consequences resulted from the Argentine actions. Based on the conceptual framework of Peripheral Realism, we analyze indicators related to the weapon trade, defense loans, joint exercises, and personnel training, among others. There will also be a comparative analysis of the conventional military forces of the two powers in question, United States and China. As a conclusion, the cost of having closer relations with China instead of the United States in the defense agenda has been clearly higher than the benefits obtained. The conclusions drawn are empirically aligned with the theoretical paradigm of peripheral realism. Although there are certain conceptual and methodological digressions, these conclusions they could be useful to update and adapt the theory to the current complex international scenario.

Keywords: China, United States, Argentine, peripheral country, peripheral realism

Procedia PDF Downloads 357

Authors: Liman Zhao, Jianlong Zhang, Mingman Ren, Chuang Wang, Jian Liu

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Rural migrant children have become a fast-growing population in China as a consequence of the large-scale population flow from rural to urban areas in the context of urbanization. In China, the socioeconomic status of migrant children is relatively low in comparison to non-migrant children. Parents of migrant children often work in occupations with long working hours, high labor intensity, and low pay due to their poor academic qualifications. Most migrant children's parents have not received higher education and have no time to read with their children. The family of migrant children usually does not have a good collection of books either, which leads to these children’s insufficient reading and low reading levels. Moreover, migrant children frequently relocate with their parents, and their needs for knowledge and reading are often neglected by schools, which puts migrant children at risk of academic failure in China. Therefore, the academic achievement of rural migrant children has become a focus of education in China. This study explores the relationship between the educational expectation of rural migrant children and their critical reading competence in general and the moderating effect of the difference between parental educational expectation to their children and the children’s own educational expectation. The responses to a survey from 5113 seventh-grade children in a district of the capital city in China revealed that children who moved to cities in grades 4-6 of primary school performed the best in critical reading, and children who moved to cities after middle school showed the worst performance in critical reading. In addition, parents’ educational expectations of their children and their own educational expectations were both significant predictors of rural migrant children’s reading competence. The higher a child's expectations of a degree and the smaller the gap between parents' expectations of a child's education and the child's own education expectations, the better the child's performance in critical reading.

Keywords: educational expectation, critical reading competence, rural migrant children, moderating effect

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Authors: Sabita Mahapatra

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‘Going green’ has been an emerging issue worldwide driving companies to continuously enhance their green capabilities and implement innovative green practices to protect the environment and improve business performance. Green has become a contemporary business environmental issue. The resource advantage theory is adopted in the present study to observe the impact of marketing orientation and green innovation practices on environmental and firm’s performance. The small and medium firms compared to large firms have different approach towards market orientation as a strategic tool. The present study proposes a conceptual framework regarding the impact of market orientation on environmental and firm’s performance through green innovation practices in the context of small and medium scale industries (SMEs). The propositions developed in the present paper would provide scope for future research study to validate the conceptual framework in the emerging economy like India.

Keywords: market orientation, green innovation practices, environment performance, corporate performance, emerging market

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Authors: Sadik Yigit

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The energy consumed in the buildings constitutes a large portion of the total energy consumption in the world. In this study, it was aimed to measure the impact of climate change on the energy consumption of residential building stock by analyzing a typical mid-rise residential building in four different climate regions of Turkey. An integrated system was developed using the "Distribution Evolutionary Algorithms in Python" tool and Energy Plus. By using the developed integrated system, the energy performance of the typical residential building was analyzed under the effect of different climate change scenarios. The results indicated that predicted overheating will be experienced in the future, which will significantly increase the cooling energy loads of the buildings. In addition, design solutions to improve the future energy performance of the buildings were proposed, considering budget constraints. The results of the study will guide researchers studying in this area of research and designers in the sector in finding climate change resilient design solutions.

Keywords: energy_efficient, residential buildings, climate change, energyplus

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Authors: Jing (Claire) LI

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More than two decades from 2000 to 2020 of economic reforms have brought China unprecedented economic growth. There is an urgent call of research towards corporate social responsibility (CSR) in the context of China because while China continues to develop into a global trading market, it suffers from various serious problems relating to CSR. This study analyses the factors affecting the adoption of CSR practices by Chinese listed companies. The author proposes a new framework of factors of CSR adoption. Following common organisational factors and external factors in the literature (including organisational support, company size, shareholder pressures, and government support), this study introduces two additional factors, dynamic capability and regional culture. A survey questionnaire was conducted on the CSR adoption of Chinese listed companies in Shen Zhen and Shang Hai index from December 2019 to March 2020. The survey was conducted to collect data on the factors that affect the adoption of CSR. After collection of data, this study performed factor analysis to reduce the number of measurement items to several main factors. This procedure is to confirm the proposed framework and ensure the significant factors. Through analysis, this study identifies four grouped factors as determinants of the CSR adoption. The first factor loading includes dynamic capability and organisational support. The study finds that they are positively related to the first factor, so the first factor mainly reflects the capabilities of companies, which is one component in internal factors. In the second factor, measurement items of stakeholder pressures mainly are from regulatory bodies, customer and supplier, employees and community, and shareholders. In sum, they are positively related to the second factor and they reflect stakeholder pressures, which is one component of external factors. The third factor reflects organisational characteristics. Variables include company size and cultural score. Among these variables, company size is negatively related to the third factor. The resulted factor loading of the third factor implies that organisational factor is an important determinant of CSR adoption. Cultural consistency, the variable in the fourth factor, is positively related to the factor. It represents the difference between perception of managers and actual culture of the organisations in terms of cultural dimensions, which is one component in internal factors. It implies that regional culture is an important factor of CSR adoption. Overall, the results are consistent with previous literature. This study is of significance from both theoretical and empirical perspectives. First, from the significance of theoretical perspective, this research combines stakeholder theory, dynamic capability view of a firm, and neo-institutional theory in CSR research. Based on association of these three theories, this study introduces two new factors (dynamic capability and regional culture) to have a better framework for CSR adoption. Second, this study contributes to empirical literature of CSR in the context of China. Extant Chinese companies lack recognition of the importance of CSR practices adoption. This study built a framework and may help companies to design resource allocation strategies and evaluate future CSR and management practices in an early stage.

Keywords: China, corporate social responsibility, CSR adoption, dynamic capability, regional culture

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Authors: M. Chobotová, Ž. Rylková

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Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.

Keywords: innovation, performance, measurements metrics, indices

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Authors: Mengna Hu

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This paper examines the impact of an anti-speculation tax policy on the trading activities and home price movements in the housing market in Hong Kong. The study focuses on the secondary residential property market where transactions dominate. The policy intervention substantially raised the transaction cost to speculators as well as genuine homeowners who dispose their homes within a certain period. Through the demonstration of structural breaks, our empirical results show that the rise in transaction cost effectively reduced speculative trading activities. However, it accelerated price increase in the small-sized segment by vastly demotivating existing homeowners from trading up to better homes, causing congestion in the lower-end market where the demand from first-time buyers is still strong. Apart from that, by employing regime switching approach, we further show that the unintended consequences are likely to be persistent due to this policy together with other strengthened cooling measures.

Keywords: transaction costs, housing market, structural breaks, regime switching

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Authors: Xiao Liulingzi

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It is important for using multi-sensory teaching in music learning. This article aims to provide knowledge in multi-sensory learning and teaching music in primary school. For primary school students, in addition to the training of basic knowledge and skills of music, students' sense of participation and creativity in music class are the key requirements, especially the flexibility and dynamics in music class, so that students can integrate into music and feel the music. The article explains the multi-sensory sense in music learning, the differences between multi-sensory music teaching and traditional music teaching, and music multi-sensory teaching in primary schools in China.

Keywords: multi-sensory, teaching practice, primary music classroom, China

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Authors: Hsiao-Tien Pao, Yi-Ying Li, Hsin-Chia Fu

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This paper addressed the impacts of energy consumption, economic growth, financial development, and population size on environmental degradation using grey relational analysis (GRA) for China, where foreign direct investment (FDI) inflows is the proxy variable for financial development. The more recent historical data during the period 2004–2011 are used, because the use of very old data for data analysis may not be suitable for rapidly developing countries. The results of the GRA indicate that the linkage effects of energy consumption–emissions and GDP–emissions are ranked first and second, respectively. These reveal that energy consumption and economic growth are strongly correlated with emissions. Higher economic growth requires more energy consumption and increasing environmental pollution. Likewise, more efficient energy use needs a higher level of economic development. Therefore, policies to improve energy efficiency and create a low-carbon economy can reduce emissions without hurting economic growth. The finding of FDI–emissions linkage is ranked third. This indicates that China do not apply weak environmental regulations to attract inward FDI. Furthermore, China’s government in attracting inward FDI should strengthen environmental policy. The finding of population–emissions linkage effect is ranked fourth, implying that population size does not directly affect CO₂ emissions, even though China has the world’s largest population, and Chinese people are very economical use of energy-related products. Overall, the energy conservation, improving efficiency, managing demand, and financial development, which aim at curtailing waste of energy, reducing both energy consumption and emissions, and without loss of the country’s competitiveness, can be adopted for developing economies. The GRA is one of the best way to use a lower data to build a dynamic analysis model.

Keywords: China, CO₂ emissions, foreign direct investment, grey relational analysis

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Authors: Reza Ferdousi, Reza Safdari, Yadollah Omidi

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Drug-drug interactions (DDIs) are main cause of the adverse drug reactions and nature of the functional and molecular complexity of drugs behavior in human body make them hard to prevent and treat. With the aid of new technologies derived from mathematical and computational science the DDIs problems can be addressed with minimum cost and efforts. Market basket analysis is known as powerful method to identify co-occurrence of thing to discover patterns and frequency of the elements. In this research, we used market basket analysis to identify important bio-elements in DDIs occurrence. For this, we collected all known DDIs from DrugBank. The obtained data were analyzed by market basket analysis method. We investigated all drug-enzyme, drug-carrier, drug-transporter and drug-target associations. To determine the importance of the extracted bio-elements, extracted rules were evaluated in terms of confidence and support. Market basket analysis of the over 45,000 known DDIs reveals more than 300 important rules that can be used to identify DDIs, CYP 450 family were the most frequent shared bio-elements. We applied extracted rules over 2,000,000 unknown drug pairs that lead to discovery of more than 200,000 potential DDIs. Analysis of the underlying reason behind the DDI phenomena can help to predict and prevent DDI occurrence. Ranking of the extracted rules based on strangeness of them can be a supportive tool to predict the outcome of an unknown DDI.

Keywords: drug-drug interaction, market basket analysis, rule discovery, important bio-elements

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Authors: Isaac Kofi Mensah, Jianing Mi, Feng Cheng

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This research paper seeks to investigate the factors determining the continuance usage of online mobile payment applications among WECHAT users in China. Technology Acceptance Model (TAM) and the Diffusion of Innovation (DOI) theory would both be applied as the theoretical foundation for this study. A developed instrument would be administered to the targeted sample of 1000 WECHAT Users in the City of Harbin, China, through an online questionnaire administration platform. Factors such as perceived usefulness, perceived ease of use, perceived service quality, social influence, trust in the internet, internet self-efficacy, relative advantage, compatibility, and complexity would be explored to determine its significant impact on the continuance intention to use mobile payment apps. This study is at the development and implementation stage. The successful completion of this research article would not only provide an insightful understanding of the factors influencing the decision of WECHAT users in China to use mobile payment applications but also enrich the e-commerce adoption literature.

Keywords: diffusion of innovation (DOI), e-commerce, mobile payment, technology acceptance model (TAM), WECHAT

Procedia PDF Downloads 163

Authors: Firsan Nova

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The average Indonesian watches 5.5 hours of TV a day. With a population of 242 million people and a Free-to-Air (FTA) TV penetration rate of 56%, that equates to 745 million hours of television watched each day. With such potential, it is no wonder that many companies are now attempting to get into the Pay TV market. Research firm Media Partner Asia has forecast in its study that the number of Indonesian pay-television subscribers will climb from 2.4 million in 2012 to 8.7 million by 2020, with penetration scaling up from 7 percent to 21 percent. Key drivers of market growth, the study says, include macro trends built around higher disposable income and a rising middle class, with leading players continuing to invest significantly in sales, distribution and content. New entrants, in the meantime, will boost overall prospects. This study aims to examine and analyze the effect of Market Attractiveness and the Core Competence on Value Creation and Competitive Advantage and its impact to Business Performance in the pay TV industry in Indonesia. The study using strategic management science approach with the census method in which all members of the population are as sample. Verification method is used to examine the relationship between variables. The unit of analysis in this research is all Indonesian Pay TV business units totaling 19 business units. The unit of observation is the director and managers of each business unit. Hypothesis testing is performed by using statistical Partial Least Square (PLS). The conclusion of the study shows that the market attractiveness affects business performance through value creation and competitive advantage. The appropriate value creation comes from the company ability to optimize its core competence and exploit market attractiveness. Value creation affects competitive advantage. The competitive advantage can be determined based on the company's ability to create value for customers and the competitive advantage has an impact on business performance.

Keywords: market attractiveness, core competence, value creation, competitive advantage, business performance

Procedia PDF Downloads 329

Authors: Petra Dilling

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This study examines the market reaction to the publication of integrated reports for a sample of 316 global companies for the reporting year 2018. Applying event study methodology, we find significant cumulative average abnormal returns (CAARs) after the publication date. To ensure robust estimation resultsthe three-factor model, according to Fama and French, is used as well as a market-adjusted model, a CAPM and a Frama-French model taking GARCH effects into account. We find a significant positive CAAR after the publication day of the integrated report. Our results suggest that investors react to information provided in the integrated report and that they react differently to the annual financial report. Furthermore, our cross-sectional analysis confirms that companies with a significant positive cumulative average abnormal show certain characteristic. It was found that European companies have a higher likelihood to experience a stronger significant positive market reaction to their integrated report publication.

Keywords: integrated report, event methodology, cumulative abnormal return, sustainability, CAPM

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Authors: Jagbir Singh Kadyan

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This research paper critically analyse the performance of those Indian Automobile Companies which are listed and traded on the National Stock Exchange (NSE) of India and which are also included in the NSE nifty auto Index. In India, CSR–Corporate Social Responsibility is mandatory for certain qualifying companies under the Indian Companies Act 2013, which replaces the erstwhile Companies Act 1956. There has been a significant shift in the focus and approaches of the Indian Corporates towards their CSR obligations with the insertion of section 135, revision of section 198 and introduction of schedule VII of the Indian Companies Act 2013. Every such qualifying companies are required to mandatorily spend at least 2% of their annual average net profit of the immediately preceding three financial years on such CSR activities as specified under schedule VII of the Companies act 2013. This research paper analyzes the CSR performance of such Indian companies. This research work is originally based on the secondary data. The annual reports of the selected Indian automobile companies have been extensively used and considered for this research work.

Keywords: board of directors, corporate social responsibility, CSR committees, Indian automobile companies, Indian companies act 2013, national stock exchange

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Authors: Lei Ping

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The Western discourse of ‘modernity’ along with its objects, ideologies, and culture are brought to Imperial China by force of arms which confronted Chinese traditions. The struggle and conflicts between ‘Zhong’ (Chinese) and ‘Wai' (foreign), ‘Jiu’(Old) and ‘Xin’(New) are continuous during the turbulent times of 19th Century China. Since the foundation of the People’s Republic in 1949, China has gone through radical social, economic and cultural reform under the Communist Party’s highly centralised and autocratic political regime. The regime and Chairman Mao’s eagerness to identify the new China and establish a revolutionary mono-culture have increased political influence on the modernisation process. The ten years of Cultural Revolution (1966-76) have commonly been neglected and separated from China’s modern history due to its political, emotional and various other associations. Its cultural productions which dictated the Chinese stages during this period, namely the yangbanxi (Model Works), are largely viewed as political propaganda material with little or no artistic value in the nation’s cultural development. This paper argues that far from being anti modernisation of culture, the yangbanxi carry continuities that originate from before the cultural revolution and influence later cultural productions up till today. The focus of the paper is on Hongse Niangzijun (The Red Detachment of Women), a ballet yangbanxi (Model Works) which was performed to President Nixon during his visit to China in 1972. It depicts the female soldier Wu Qionghua’s life story: a transformation from a peasant girl to a mature communist soldier. The first part of the paper begins with an introduction to the cultural, social and political contexts under which the ballet was created and made a yangbanxi (Model work). The second part examines the application of musical devices (e.g. instrumentation, leitmotif), ranging from typical Western techniques to Chinese musical and theatrical traditions. By analysing, connecting and comparing these musical devices of various origins, the paper illustrates that the yangbanxi (Model Works) largely contributes to the ever-present, continuing and evolving modernisation of contemporary Chinese culture.

Keywords: cultural revolution, Hongse Niangzijun (Red Detachment of Women), modern China, music, Yangbanxi (model works)

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Authors: Montserrat Guillen, Stephania Mosquera-Lopez, Jorge Uribe

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An empirical study of market risk transmission between electricity prices in the Nord Pool interconnected market is done. Crucially, it is differentiated between risk propagation in the two tails of the price variation distribution. Thus, the downside risk from upside risk spillovers is distinguished. The results found document an asymmetric nature of risk and risk propagation in the two tails of the electricity price log variations. Risk spillovers following price increments in the market are transmitted to a larger extent than those after price reductions. Also, asymmetries related to both, the size of the transaction area and related to whether a given area behaves as a net-exporter or net-importer of electricity, are documented. For instance, on the one hand, the bigger the area of the transaction, the smaller the size of the volatility shocks that it receives. On the other hand, exporters of electricity, alongside countries with a significant dependence on renewable sources, tend to be net-transmitters of volatility to the rest of the system. Additionally, insights on the predictive power of positive and negative semivariances for future market volatility are provided. It is shown that depending on the forecasting horizon, downside and upside shocks to the market are featured by a distinctive persistence, and that upside volatility impacts more on net-importers of electricity, while the opposite holds for net-exporters.

Keywords: electricity prices, realized volatility, semivariances, volatility spillovers

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Authors: Xia Luo, Cheng Zeng

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Under the promotion of the Central Committee of the Communist Party of China and the State Council in 2017, Xiong'an New Area is the third crucial new area in China established after Shenzhen and Shanghai. Its constructions' significance lies in mitigating Beijing's non-capital functions and exploring a new mode of optimizing development in densely populated and economically intensive areas. For this purpose, developing underground logistics can assume the role of goods distribution in the capital, relieve the road transport pressure in Beijing-Tianjin-Hebei Urban Agglomeration, adjust and optimize the urban layout and spatial structure of it. Firstly, the construction planning of Xiong'an New Area and underground logistics development are summarized, especially the development status abroad, the development trend, and bottlenecks of underground logistics in China. This paper explores the technicality, feasibility, and necessity of four modes of transportation. There are pneumatic capsule pipeline (PCP) technology, the CargoCap technology, cable hauled mule, and automatic guided vehicle (AGV). The above technical parameters and characteristics are introduced to relevant experts or scholars. Through establishing an indicator system, carrying out a questionnaire survey with the Delphi method, the final suggestion is obtained: China should develop logistics vehicles similar to CargoCap, adopting rail mode and driverless mode. Based on China's temporal and spatial logistics demand and the geographical pattern of Xiong'an New Area, the construction scale, technical parameters, node location, and other vital parameters of underground logistics are planned. In this way, we hope to speed up the new area's construction and the logistics industry's innovation.

Keywords: the Xiong'an new area, underground logistics, contrastive analysis, CargoCap, logistics planning

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Authors: Mohamed Deyab

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The global lubricant additives market size was USD 14.35 billion in 2015. The industry is characterized by increasing additive usage in base oil blending for longer service life and performance. These additives improve the viscosity of oil, act as detergents, defoamers, antioxidants, and antiwear agents. Since additives play a significant role in base oil blending and subsequent formulations as they are critical materials in improving specification and performance of oils. Herein, we report on the synthesis and characterization of three imidazolium derivatives and their application as antioxidants, detergents and antiwear agents. The molecular structure and characterizations of these ionic liquids were confirmed by elemental analysis, FTIR, X-Ray Diffraction (XRD) and 1HNMR spectroscopy. Thermo gravimetric analysis (TGA), is used to study the degradation and thermal stability of the studied base stock samples. It was found that all the prepared ionic liquids additives have excellent power of dispersion and detergency. The ionic liquids as additives to engine oil reduced the friction (38%) and wear volume (76%) of steel balls. The obtained results show that the ionic liquids have an oxidation inhibitor up to 95%.

Keywords: reused lubricating oil, waste, petroleum, ionic liquids

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Authors: Yuang Guo, Dewancker Bart

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The primary energy consumption of buildings throughout China was approximately 814 million tons of coal equivalents in 2014, which accounts for 19.12% of China's total primary energy consumption. Also, the energy consumption of public buildings takes a bigger share than urban residential buildings and rural residential buildings among the total energy consumption. To improve the level of energy demand, various design parameters were chosen. Meanwhile, a series of simulations by Energy Plus (EP-Launch) is performed using a base case model established in Open Studio. Through the results, 16%-23% of total energy demand reductions can be found in the severe cold zone of China, and it can also provide a reference for the architectural design of other similar climate zones.

Keywords: energy consumption, design parameters, indoor thermal comfort, simulation study, severe cold climate zone

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Authors: Xincheng He, Weijun Gao, Gangwei Cai

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In the process of rapid urbanization, large-scale industrial production, and unreasonable planning and construction have caused various ecological and environmental problems, while hindered the sustainable development of cities. The ecological district not only realizes the coordinated development of society, economy, and environment but also conforms to the trend of smart contraction of the development of cities in China from the periphery to the center. This paper reviews the development of China's ecological district, including the full life cycle process of policy, planning, implementation, and operation. Based on sorting out the concept, connotation, and development status of China’s ecological district, the relationship between the construction of the ecological district and the sustainable city is discussed. Summarizing the development trend of the ecological district, the ecological district should combine the construction of smart cities, actively respond to the digital information era, and improve the construction of the ecological district system. It proposes that the future direction of city's sustainable development needs to change from a thematic focus on ecology to the common urbanization of humanity, society, and nature. Focusing on people-oriented, ecological, and digital future communities will become an important construction method for the city's sustainable smart contraction.

Keywords: eco-district, smart contraction, sustainable development, future community

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Authors: Randy D. Colon

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Through a freedom of information request, data pertaining to Housing Choice Voucher (HCV) households has been obtained from the Chicago Housing Authority, including rent price and number of bedrooms per HCV household, community area, and zip code from 2013 to the first quarter of 2018. Similar data pertaining to the private rental market will be obtained through public records found through the United States Department of Housing and Urban Development. The datasets will be analyzed through statistical and mapping software to investigate the potential link between HCV households and distorted rent prices. Quantitative data will be supplemented by qualitative data to investigate the lived experience of Chicago residents. Qualitative data will be collected at community meetings in the Chicago Englewood neighborhood through participation in neighborhood meetings and informal interviews with residents and community leaders. The qualitative data will be used to gain insight on the lived experience of community leaders and residents of the Englewood neighborhood in relation to housing, the rental market, and HCV. While there is an abundance of quantitative data on this subject, this qualitative data is necessary to capture the lived experience of local residents effected by a changing rental market. This topic reflects concerns voiced by members of the Englewood community, and this study aims to keep the community relevant in its findings.

Keywords: Chicago, housing, housing choice voucher program, housing subsidies, rental market

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Authors: Qinke Sun, Liang Zhou

Abstract:

The ‘Dragon-Elephant Debate’ between China and India is an important manifestation of global multipolarity in the 21st century. The two rising powers have carried out economic reforms one after another in the interval of more than ten years, becoming the fastest growing developing country and emerging economy in the world. At the same time, the development differences between China and India have gradually attracted wide attention of scholars. Based on the continuous annual night light data (DMSP-OLS) from 1992 to 2012, this paper systematically compares and analyses the regional development differences between China and India by Gini coefficient, coefficient of variation, comprehensive night light index (CNLI) and hot spot analysis. The results show that: (1) China's overall expansion from 1992 to 2012 is 1.84 times that of India, in which China's change is 2.6 times and India's change is 2 times. The percentage of lights in unlighted areas in China dropped from 92% to 82%, while that in India from 71% to 50%. (2) China's new growth-oriented cities appear in Hohhot, Inner Mongolia, Ordos, and Urumqi in the west, and the declining cities are concentrated in Liaoning Province and Jilin Province in the northeast; India's new growth-oriented cities are concentrated in Chhattisgarh in the north, while the declining areas are distributed in Uttar Pradesh. (3) China's differences on different scales are lower than India's, and regional inequality of development is gradually narrowing. Gini coefficients at the regional and provincial levels have decreased from 0.29, 0.44 to 0.24 and 0.38, respectively, while regional inequality in India has slowly improved and regional differences are gradually widening, with Gini coefficients rising from 0.28 to 0.32. The provincial Gini coefficient decreased slightly from 0.64 to 0.63. (4) The spatial pattern of China's regional development is mainly east-west difference, which shows the difference between coastal and inland areas; while the spatial pattern of India's regional development is mainly north-south difference, but because the southern states are sea-dependent, it also reflects the coastal inland difference to a certain extent. (5) Beijing and Shanghai present a multi-core outward expansion model, with an average annual CNLI higher than 0.01, while New Delhi and Mumbai present the main core enhancement expansion model, with an average annual CNLI lower than 0.01, of which the average annual CNLI in Shanghai is about five times that in Mumbai.

Keywords: spatial pattern, spatial difference, DMSP-OLS, China, India

Procedia PDF Downloads 127

Authors: Mesias Alfeus, Kirsty Fitzhenry, Alessia Lederer

Abstract:

The present paper provides empirical studies to estimate defaultable bonds in the South African financial market. The main goal is to estimate the unobservable factors affecting bond yields for South African major banks. The maximum likelihood approach is adopted for the estimation methodology. Extended Kalman filtering techniques are employed in order to tackle the situation that the factors cannot be observed directly. Multi-dimensional Cox-Ingersoll-Ross (CIR)-type factor models are considered. Results show that default risk increased sharply in the South African financial market during COVID-19 and the CIR model with jumps exhibits a better performance.

Keywords: default intensity, unobservable state variables, CIR, α-CIR, extended kalman filtering

Procedia PDF Downloads 88

Authors: Wang Liguang, Zhang Xueqing

Abstract:

The build-operate-transfer (BOT) project delivery system has provided effective routes to mobilize private sector funds, innovative technologies, management skills and operational efficiencies for public infrastructure development and have been widely used in China during the last 20 years. Many BOT projects in China will be smoothly transferred to the government soon and the transfer stage, which is considered as the last stage, must be studied carefully and handled well to achieve the overall success of BOT projects. There will be many issues faced by both the public sector and private sector in the transfer stage of BOT projects, including project post-assessment, technology and documents transfer, personal training and staff transition, etc. and sometimes additional legislation is needed for future operation and management of facilities. However, most previous studies focused on the bidding, financing, and building and operation stages instead of transfer stage. This research identifies nine key issues in the transfer stage of BOT projects through a comprehensive study on three cases in China, and the expert interview and expert discussion meetings are held to validate the key issues and give detail analysis. A proposed framework of transfer management is prepared based on the experiences derived and lessons drawn from the case studies and expert interview and discussions, which is expected to improve the transfer management of BOT projects in practice.

Keywords: BOT project, key issues, transfer management, transfer stage

Procedia PDF Downloads 233