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This study examines the factors that influence the improvement of the consumer goods sector in three dimensions (technology, internal factors and external environment) for exploring the upgrading paths of Shanghai's consumer goods industry.

This paper targeted eight sub-industries of consumer goods as case studies, including food processing, and investigated from qualitative and quantitative perspectives using the technology-organization-environment (TOE) framework.

The study confirms the diversity of paths to promote the upgrading of the consumer goods industry in Shanghai, and three paths are summarized in this paper. The “human–environment” linkage upgrade path is to bring sufficient economic contribution to help industrial upgrading by expanding market share, and this path is suitable for large enterprises in the industry to adopt; the “internal factor aggregation” upgrading path is to strengthen the aggregation effect of resources, form industrial clusters and link high human aggregation with industrial aggregation to exert leverage to transform and upgrade the consumer goods industry, and this path is suitable for SMEs in the industry to adopt; the “technology–environment” linkage upgrade path is to use technological factors for product innovation to occupy a favorable market position, to obtain high economic returns and realize industrial upgrading under the joint action of technology and external environment, and this path is suitable for high-tech enterprises to adopt.

Shanghai still has a large area for growth toward foreign metropolises, under the backdrop of the strong development of new manufacturing. Also, to diversify their investment portfolio, the consumer goods industry should focus on population, job density and industrial growth while looking into industrial aggregation.

This paper aims to study the influence of the different parameters of magnetorheological polishing fluids (MRP fluids) on the surface roughness and material removal rate (MRR) of the workpiece surface in the reciprocating magnetorheological polishing (RMRP) process.

A series of single-factor experiments are performed to evaluate the influence of the concentration of magnetic particles, concentration of abrasive particles and size of abrasive particles on surface processing effects by using the RMRP method. Moreover, the yield stress and viscosity of MRP fluids are studied based on the Bingham plastic model by varying the MRP fluids parameters.

A reasonable parameter of MRP fluids is crucial to the surface roughness and MRR of the workpiece surface, and the optimized parameters are obtained by the single-factor experiments of RMRP. The results are when the concentration of carbonyl iron particles is 40 Vol.%, the concentration of CeO₂ is 5 Vol.% and the size of CeO₂ is 2.5 µm in the MRP fluids, the surface roughness of the workpiece remarkably decreases to 28 nm from the initial 332 nm and the MRR of the workpiece increases to 0.118 mg/min.

In this study, the single-factor experiments for the different parameters of MRP fluids are studied to polish K9 glass by using the RMRP device, and the yield stress and viscosity of MRP fluids are investigated by rheological experiments, which provides reference for a reasonable selection of the MRP fluids parameter in RMRP process.

This paper aims to study the effects of the processing parameters in the reciprocating magnetorheological polishing (RMRP) on abrasive particle trajectory by the simulation analysis, which provides a basis for the machining uniformity of the workpiece.

The principle of the RMRP method is discussed, and a series of simulation analysis of the abrasive particle trajectory are performed to evaluate the effects of the workpiece’s rotational speed, the eccentric wheel’s rotational speed, the eccentricity and the frame gap on abrasive particle trajectory by using the RMRP method.

The processing parameters have a significant influence on the abrasive particle trajectory, and then the machining uniformity of the workpiece is affected. Under certain experimental conditions, the height difference of workpiece measuring points varies between 4 and 11 µm, and the height difference of equal radial measuring points is less than 1.5 µm by optimizing processing parameters.

In this study, the optimal processing parameters can be obtained by the simulation analysis of abrasive particle trajectory, which can replace the experimental methods to obtain the reasonable processing parameters for the machining uniformity of the workpiece. It provides references for the selection of processing parameter values in magnetorheological polishing process.

This paper aims to study the effects of the different processing parameters in the reciprocating magnetorheological polishing (RMRP) on the surface roughness (Ra) and material removal rate (MRR) of the workpiece surface.

The principle of RMRP method is discussed, and a series of the single factor experiments are performed to evaluate the effects of the workpiece’s rotational speed, the reciprocating frequency, the magnetic field strength, the working gap and the processing time on machining results using the RMRP device.

The RMRP method is effective and practical for K9 glass polishing, and the optimized processing parameters are obtained by the single factor experiments of RMRP. The surface roughness of the workpiece is reduced from 332 nm to 28 nm under optimized processing parameters.

In the present study, the RMRP method is proposed, and a system of experiments is carried out using the RMRP device. The RMRP device can improve the surface roughness and MRR of the K9 glass significantly. Furthermore, the test results provide references for reasonable selection of the processing parameters in magnetorheological polishing process.

This paper aims to analyze the significance of machining parameters (workpiece’s rotational speed, magnet coil current and working gap) on final Ra (surface roughness) and material removal rate (MRR) of workpiece in reciprocating magnetorheological polishing (RMRP) process.

The research is planned to analyze, model and predict the optimum machining parameters to anticipate final Ra and MRR by applying response surface methodology (RSM) and multiresponse optimization (desirability function approach). The experiments have been planned by design of experiments (DOE). Analysis of variance (ANOVA) is applied to determine the significances of machining parameters on RMRP performance characteristics.

Response surface plots for final Ra and MRR by RSM show that machining parameters are significant for the responses. The optimum machining parameters obtained are optimized by desirability function approach (DFA), and the optimum parametric combination has been validated by confirmatory experiments. The experimental results of the final Ra and MRR are deviated by 5.12% and 2.31% from the response results under the same optimization conditions, respectively.

In this study, the RMRP responses (final Ra and MRR) are improved at predicted input machining parameters condition obtained by RSM and DFA approach. Furthermore, the research results provide a reference for experimental design and optimization of MRP process.

As Chinese stock market develops and grows, mutual fund plays an increasingly important role for strong financial strength and good social resources. This paper aims to present an overview of fund investment effect, identify the investment preference of institutional investors and explore the socially responsible investment value of mutual fund, especially green fund.

In order to test the green effects in the fund market, especially from the perspective of institutional shareholding, the authors build three panel data models to examine the attention, promotion and network effect respectively.

In general terms, the authors obtain a positive relationship between mutual funds and green firms (attention effect). This positive relationship is conducted by the comparison of institutional shareholding level between green firms and non-green firms by using two-sample t-test. The authors find that although all the coefficients of mutual funds' shareholding variables are positively related to social performance, only the number of mutual fund shareholders shows slight significance. The authors observe a stronger promotion effect of green funds on social performance than the other mutual funds (promotion effect). From a network perspective as well as previous social capital research, the mutual funds shareholding network shows a significant and positive effect on the firm's social performance in the firm–fund network (CFClose) as well as in the firm–firm network (CCClose), while the coefficients of closeness in the firm and green fund network are positive but non-significant (network effect).

Although some valuable findings have been documented, there is a great potential to be further explored. For example, how to guide more green funds to solve the finance problem of middle and small-sized firms may be another crucial task for the point of view of government or industry level. While at the mutual fund level, it is essential to positively participate in and fulfill the environment duty of listed firms which can not only satisfy the expectation of environment value investment.

The fund market has witnessed unprecedented growth in China and plays an important role in promoting the development of green industries. This indicates the practice of mutual funds as socially responsible investment in China. Some effective measures should be taken to incentive the mutual funds to continually invest in environment-friendly firms, which would benefit to the promotion of social performance driven by financing innovation.

The ESG issue is a global one that needs the participation of the countries worldwide. As one of the most important emerging markets, regulators in China should consider taking more action in promoting ESG concerns. To some extent, institutional investments can actually reflect how the responsible investments are going in this market.

This paper provides a systematic empirical analysis of Chinese fund market in the view of institutional investor preference. Three green effects, namely attention, promotion and network effects, are put forward, which have not been employed in previous studies. Our work is useful for understanding sustainable finance which has been elevating into national strategy.

The purpose of this paper is to explore how Chinese enterprises overcome their lack of resource and capabilities and eventually fulfill global resource accumulation, fast innovative commercialization and significant technological breakthrough by establishing and coordinating innovation ecosystem at firm level.

This paper first reviewed the literature on the structure and coordinating mechanism of enterprise innovation ecosystem and identified two important gaps on the characteristics of ecosystem actors and the logic of innovative coordination. Then, the paper adopted grounded analysis about the construction and evolution of Haier’s innovation ecosystem based on longitudinal case data. On the basis of the case study, the construct of firm-level innovation ecosystem and new logic of coordination are formed.

This paper found the emerging phenomenon of sub-organizational ecosystem actors and depicted that the establishing process of firm-level innovation ecosystem went through three majors stages, and the corresponding coordinating logic changed from proactive intervention to reactive self-evolution.

This paper tried to make contributions to the studies of structure and coordinating mechanism of enterprise innovation ecosystem, and proposed the enterprise itself could build firm-level ecosystem within its organizational boundary and interact with external ecosystem. The findings enlightened the nested structure of ecosystem, opened the black box of organizational boundary and broke the limitation that existing researches only analyse innovation ecosystem at system level and regard firms as basic analytical unit. Besides, this paper proposed that the coordination of innovation ecosystem can be passively fulfilled by network effect and ecological evolution, where previous studies mainly focused on proactive institutional intervention and resource investment. This point could provide Chinese enterprises with good references.

The purpose of this study is to design and process the optimal V-shaped microstructure for 7075 aluminum alloy and reveal its wear resistance mechanism and performance.

The hydrodynamic pressure lubrication models of the nontextured, V-shaped, circular and square microtextures are established. The corresponding oil film pressure distributions are explored. The friction and wear experiments are conducted on a rotating device. The effects of the microstructure shapes and sizes on the wear mechanisms are investigated via the friction coefficients and surface morphologies.

In comparison, the V-shaped microtexture has the largest oil film carrying capacity and the lowest friction coefficient. The wear mechanism of the V-shaped microtexture is dominated by abrasive and adhesive wear. The V-shaped microtexture has excellent wear resistance under a side length of 300 µm, an interval of 300 µm and a depth of 20 µm.

This study is conductive to the design of wear-resistant surfaces for friction components.

This paper aims to improve the anti-interference ability of the airborne radar stabilization platform, especially the ability to suppress continuous disturbance under complex air conditions to ensure the clarity and stability of airborne radar imaging.

This paper proposes a new active disturbance rejection control (ADRC) strategy based on the cascade extended state observer (ESO) for airborne radar stabilization platform, which adopts two first-order ESOs to estimate the angular velocity value and the angular position value of the stabilized platform. Then makes the error signal which subtracts the estimated value of ESO from the output signal of the tracking-differentiator as the input signal of the nonlinear state error feedback (NLSEF), and according to the output signal of the NLSEF and the value which dynamically compensated the total disturbances estimated by the two ESO to produce the final control signal.

The simulation results show that, compared with the classical ADRC, the ADRC based on the cascade ESO not only estimates the unknown disturbance more accurately but also improves the delay of disturbance observation effectively due to the increase of the order of the observer. In addition, compared with the classical PID control and the classical ADRC, it has made great progress in response performance and anti-interference ability, especially in the complex air conditions.

The originality of the paper is the adoption of a new ADRC control strategy based on the cascade ESO to ameliorate the anti-interference ability of the airborne radar stabilization platform, especially the ability to suppress continuous interference under complex air conditions.

The rise of the mobile Internet has accumulated much text information in various online financial forums. Such information often contains the emotional attitudes of investors toward financial technology (fintech) platforms, so extracting the sentimental tendency information has great practical value for the development of fintech platforms. Based on the investor sentiment theory, the paper aims to analyze the relevant social media data and test the influence path of online news evaluation on the stock price fluctuation of fintech platforms.

Taking Oriental Fortune as the research object, this paper selects multiple variables such as stock bar popularity, snowball popularity, news popularity and news sentiment scores collected by UQER and combines the sentiment scores of single daily news into a daily sentiment score. Based on the period from November 1, 2019 to March 31, 2020, during the emergence of the coronavirus disease 2019 (COVID-19) pandemic as the background, the authors conduct the Granger causality test based on the vector autoregressive (VAR) model and analyze the relevant evaluation of Oriental Fortune through the empirical model.

The authors' results show that different online evaluations impact the rise and fall of stock prices differently, while news popularity has the most significant impact. Besides, news sentiment scores on share price fluctuation have a relatively substantial influence. These findings indicate that the authoritative news evaluation can strongly guide investors to make relevant investment behavior operations in the information dissemination process, significantly affecting stock prices.

The research findings of this paper have good inspiration and reference values for investors and financial regulators.