Search results

The purpose of this paper is to study the influence of investor sentiment on the supply of trade credit, and further explores the difference of the effect of investor sentiment on the supply of trade credit in the environment of strong market competition and weak market competition.

The authors use panel estimation techniques to examine the impact of investor sentiment in the Chinese securities market on the supply of corporate trade credit.

This paper finds that investor sentiment has positive impact on trade credit through three channels of motivation, willingness and ability. At the same time, this paper finds that investor sentiment has stronger impact on enterprises in strong market competition than enterprises in weak market competition.

This paper expands the research on the influence of virtual economy on the real economy, analyzes the difference of the influence of investor sentiment on the supply of trade credit under different market competition conditions.

The paper perfects the mechanism of trade credit decision-making at this stage, and provides more evidence for the virtual economy to act on the real economy.

This paper provides a theoretical basis for the government functional departments to use the investor sentiment to play a positive role in trade credit to improve the market competition and guide the development of China’s capital market in the direction of rationalization and health.

In combination with market competition environment and industry characteristics, this paper investigates external irrational factors and studies how investor sentiment affects trade credit supply.

The purpose of this paper is to investigate to what extent the amount, information source and the content of the microblog information disclosure of listed companies could impact on innovation from the perspective of financing constraints.

The propensity score matching (PSM) and two-stage least square (2SLS) are used in estimations to deal with the endogeneity problem.

Evidence shows that the amount of we-media information disclosure significantly drives the innovation of enterprises. The mechanism is that we-media information disclosure drives the innovation by easing the financing constraints and bringing funds to the R&D activities. Further research shows that only the original information can drive the innovation. In particular, the R&D information promotes the R&D input and innovation output more significantly.

The conclusion of this paper provides a reference for the listed companies to drive innovation with the help of we-media information disclosure, a new solution for the small and medium-sized listed companies in China which have difficulty in carrying out innovation activities due to financing constrains and also provides useful practical enlightenment for the government and the capital market regulatory authorities to issue relevant policies to regulate we-media information disclosure.

This paper introduces a new information disclosure channel--we-media into the research on influencing factors of innovation and discusses the influence of the amount, different sources and disclosure contents from we-media on enterprise innovation, which enriches the existing research on enterprise innovation influencing factors, providing a new perspective for driving enterprises to innovate.

The purpose of this paper is to expand the investor sentiment’s effect on investment efficiency to the layer of “credit financing,” studying whether investor sentiment can affect credit financing level and the inner mechanism of the effect.

The authors obtain firm-level data from the Shanghai and Shenzhen stock markets and using panel estimation techniques examine whether investor sentiment can affect credit financing level and the inner mechanism of the effect.

This paper finds that credit financing plays the role of partial media in the process of investor sentiment affecting investment efficiency. Based on the funds increasing effect, with the high-investor sentiment and increasing credit financing, corporations alleviate the financing constraints, but also provide a convenient for the abuse of corporate funds. So, investor sentiment positively associates with enterprises’ overinvestment, while investor sentiment negatively associates with enterprises’ underinvestment. Relying on the particular system background and property right environment in China, this paper finds that investor sentiment has an effect on the overinvestment of state-owned enterprises and the underinvestment of private enterprises through credit financing channel, while it does not function in the overinvestment of private enterprises. The reason of the difference is that under the soft budget constraint in the country, the credit preference of state-owned enterprises and the creditor’s rights management of banks are partially absent.

By fusing the special financial environment and institutional background, this thesis further includes in the analysis frame the difference in governance effect by credit financing between state-owned and privately owned listed companies, and further analyzes the difference in impact on investment efficiency in enterprises of different natures after investor sentiment has affected enterprise credit financing.

This paper has verified the constraint assumption and deepened the research work on bank credit supply and answered practical questions such as whether the banks in the country exercise supervision function over the listed companies and on which kind of listed companies the supervision function plays a more effective role.

As an unofficial substitution mechanism, bank-enterprise relationship can elevate the investment efficiency by private owned enterprises. Based on the timely research results on credit financing, reference is provided for private listed companies to utilize investor sentiment to improve its investment efficiency.

This paper has proved the specific path which creates the dual effects on resources allocation by investor sentiment, that is, the intermediary transmission in credit financing, clarifying the mechanism of action by which investor sentiment affects the efficiency of enterprise investment and making incremental contribution to the research of how investor sentiment affects the efficiency of enterprise investment.

A switching depth controller based on a variable buoyancy system (VBS) is proposed to improve the performance of small autonomous underwater vehicles (AUVs). First, the requirements of VBS for small AUVs are analyzed. Second, a modular VBS with high extensibility and easy integration is proposed based on the concepts of generality and interchangeability. Subsequently, a depth-switching controller is proposed based on the modular VBS, which combines the best features of the linear active disturbance rejection controller and the nonlinear active disturbance rejection controller.

The controller design and endurance of tiny AUVs are challenging because of their low environmental adaptation, limited energy resources and nonlinear dynamics. Traditional and single linear controllers cannot solve these problems efficiently. Although the VBS can improve the endurance of AUVs, the current VBS is not extensible for small AUVs in terms of the differences in individuals and operating environments.

The switching controller’s performance was examined using simulation with water flow and external disturbances, and the controller’s performance was compared in pool experiments. The results show that switching controllers have greater effectiveness, disturbance rejection capability and robustness even in the face of various disturbances.

A high degree of standardization and integration of VBS significantly enhances the performance of small AUVs. This will help expand the market for small AUV applications.

This solution improves the extensibility of the VBS, making it easier to integrate into different models of small AUVs. The device enhances the endurance and maneuverability of the small AUVs by adjusting buoyancy and center of gravity for low-power hovering and pitch angle control.

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times during the last 10 years, reaching $55.9 billion in 2008. The issue of internationalization of Chinese OFDI has attracted increasing attention of researchers from a business perspective. This article systematically reviews the previous studies on overseas investments by Chinese MNEs and discusses the characteristics of Chinese internationalization behavior at both firm level and country level. The internationalization of Chinese companies cannot be understood as a simple game of “catch up” with established MNEs, and more firm‐level empirical studies should be carried out on how these characteristics influence firms’ strategic decisions.

This paper aim to take the ship shaft stern bearing as the research object, and studies the influence of journal axial vibration on bearing dynamic characteristics under different misaligned angles and rotation speeds.

Computational fluid dynamics (CFD) and harmonic excitation method were used to build bearing unstable lubrication model, and the dynamic mesh technology was used in calculation.

The results indicate that journal axial vibration has a significant effect on bearing dynamic characteristics, like maximum oil film pressure, bearing stiffness and damping coefficients, and the effect is positively correlated with journal misaligned angle. The effect of shaft rotation speed and journal axial vibration on bearing dynamics characteristics are independent; they have no coupling. Bearing axial stiffness is mainly affected by the journal axial displacement, bearing axial damping is mainly affected by journal axial velocity and they are positively correlated with the misaligned angle. The influence of rotational speed on bearing axial stiffness and axial damping is not obvious.

This paper establishes the bearing dynamic model by CFD and harmonic excitation method with consideration of cavitation effect and analyzing the influence of journal axial vibration on the dynamic characteristics. The results are benefit to the design of ship propulsion shaft and the selection of stern bearing. Also, they are of great significance to improve the operation stability of the shaft bearing system and the vitality of the ship.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-11-2022-0337/

The purpose of this research is as follows: DPP-BOH-PVA has been synthesized from 1,1′:3′,1″-terphenyl-5'-boronic acid (DPP-OH) and polyvinyl alcohol (PVA). The afterglow lifetime of DPP-BOH-PVA was studied by changing contents of DPP-OH (1, 2 and 4 Wt.%). These films were characterized with Fourier transform infrared, X-ray diffraction as structural analysis and DSC as thermal analysis. Afterglow lifetimes were evaluated as time-resolved emission decay profile analysis. Fiber films of DPP-BOH-PVA-2-E have been prepared by electrospinning method with the diameter of 5 μm and afterglow life time of 2.1 s (@ 535 nm) under ambient conditions. Stimulus responsive properties with afterglow emission for fiber film were investigated.

During the synthesis of the polymer, modification was carried out using DPP-OH/PVA with a molar ratio of 1/4, under an alkalinity medium with ammonium hydroxide and with a temperature of 80°C.

XRD results indicate that DPP-BOH-PVA film had high crystallinity, which is crucial for preparing organic room temperature phosphorescence (RTP) materials.

The reaction mixture must be stirred continuously. Temperature should be controlled to prevent the rapid evaporation of ammonium hydroxide.

This study provides technical information for the synthesis of multidimensional stimulation response RTP micron fiber thin film. The electrospinning technology may also promote the applications of the large areas of RTP films.

This resin will be used for the multidimensional stimulation response RTP fiber thin film.

The diameter of fiber film of PP-BOH-PVA-2-E by electrospinning method was in the range of 5 μm, and its afterglow lifetime decayed to be 2.1 s.

To improve the wear resistance of the sliding boot, the wear-resistant Fe-21 Wt.% Cr-5 Wt.% B alloy is prepared, and the wear mechanism is studied under dry sliding condition.

The anti-wear Fe-21 Wt.% Cr-5 Wt.% B alloy is prepared by powder metallurgy technique. The tribological behavior of Fe-Cr-B alloy sliding against ASTM 1045 steel pin is studied at 30-60 N and 0.03-0.12 m/s using a reciprocating pin-on-disk tribometer under dry sliding condition. Meanwhile, the ASTM 5140 and 3316 steel are studied as compared samples.

The friction coefficients of tested specimens increase with the increasing normal load. However, this effect is the opposite in case of different sliding speeds. The specific wear rates increase as the sliding speed and normal load increase. The Fe-Cr-B alloy shows the best tribological properties under the dry sliding condition and the wear mechanism is mainly ploughing.

This wear-resistant Fe-21 Wt.% Cr-5 Wt.% B alloy can replace the traditional materials to process the sliding shoes and improve the service life of coal mining machine.

The purpose of this paper is to investigate the performance of coke oven gas (COG)-combined cooling, heating and power (CCHP) system and to mainly focus on studying the influence of the environmental conditions, operating conditions and gas conditions on the performance of the system and on quantifying the distribution of useful energy loss and the saving potential of the integrated system changing with different parameters.

The working process of COG-CCHP was simulated through the establishment of system flow and thermal analysis mathematical model. Using exergy analysis method, the COG-CCHP system’s energy consumption status and the performance changing rules were analyzed.

The results showed that the combustion chamber has the largest exergy loss among the thermal equipments. Reducing the environmental temperature and pressure can improve the entire system’s reasonable degree of energy. Higher temperature and pressure improved the system’s perfection degree of energy use. Relatively high level of hydrogen and low content of water in COG and an optimal range of CH₄ volume fraction between 35 per cent and 46 per cent are required to ensure high exergy efficiency of this integration system.

This paper proposed a CCHP system with the utilization of coke oven gas (COG) and quantified the distribution of useful energy loss and the saving potential of the integrated system under different environmental, operating and gas conditions. The weak links of energy consumption within the system were analyzed, and the characteristics of COG in this way of using were illustrated. This study can provide certain guiding basis for further research and development of the CCHP system performance.

Adopting large eddy simulation (LES) to simulate the complex flow in turbomachinery is appropriate to overcome the limitation of current Reynolds-Averaged Navier–Stokes modelling and it provides a deeper understanding of the complicated transitional and turbulent flow mechanism; however, the large computational cost limits its application in high Reynolds number flow. This study aims to develop a three-dimensional GPU-enabled parallel-unstructured solver to speed up the high-fidelity LES simulation.

Compared to the central processing units (CPUs), graphics processing units (GPUs) can provide higher computational speed. This work aims to develop a three-dimensional GPU-enabled parallel-unstructured solver to speed up the high-fidelity LES simulation. A set of low-dissipation schemes designed for unstructured mesh is implemented with compute unified device architecture programming model. Several key parameters affecting the performance of the GPU code are discussed and further speed-up can be obtained by analysing the underlying finite volume-based numerical scheme.

The results show that an acceleration ratio of approximately 84 (on a single GPU) for double precision algorithm can be achieved with this unstructured GPU code. The transitional flow inside a compressor is simulated and the computational efficiency has been improved greatly. The transition process is discussed and the role of K-H instability playing in the transition mechanism is verified.

The speed-up gained from GPU-enabled solver reaches 84 compared to original code running on CPU and the vast speed-up enables the fast-turnaround high-fidelity LES simulation.

The GPU-enabled flow solver is implemented and optimized according to the feature of finite volume scheme. The solving time is reduced remarkably and the detail structures including vortices are captured.