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Electrical capacitance tomography (ECT) and electrical resistance tomography (ERT) are promising techniques for multiphase flow measurement due to their high speed, low cost, non-invasive and visualization features. There are two major difficulties in image reconstruction for ECT and ERT: the “soft-field”effect, and the ill-posedness of the inverse problem, which includes two problems: under-determined problem and the solution is not stable, i.e. is very sensitive to measurement errors and noise. This paper aims to summarize and evaluate various reconstruction algorithms which have been studied and developed in the word for many years and to provide reference for further research and application.

In the past 10 years, various image reconstruction algorithms have been developed to deal with these problems, including in the field of industrial multi-phase flow measurement and biological medical diagnosis.

This paper reviews existing image reconstruction algorithms and the new algorithms proposed by the authors for electrical capacitance tomography and electrical resistance tomography in multi-phase flow measurement and biological medical diagnosis.

The authors systematically summarize and evaluate various reconstruction algorithms which have been studied and developed in the word for many years and to provide valuable reference for practical applications.

Electrical impedance tomography (EIT) is a technique for reconstructing the conductivity distribution by injecting currents at the boundary of a subject and measuring the resulting changes in voltage. Image reconstruction for EIT is a nonlinear problem. A generalized inverse operator is usually ill-posed and ill-conditioned. Therefore, the solutions for EIT are not unique and highly sensitive to the measurement noise.

This paper develops a novel image reconstruction algorithm for EIT based on patch-based sparse representation. The sparsifying dictionary optimization and image reconstruction are performed alternately. Two patch-based sparsity, namely, square-patch sparsity and column-patch sparsity, are discussed and compared with the global sparsity.

Both simulation and experimental results indicate that the patch based sparsity method can improve the quality of image reconstruction and tolerate a relatively high level of noise in the measured voltages.

EIT image is reconstructed based on patch-based sparse representation. Square-patch sparsity and column-patch sparsity are proposed and compared. Sparse dictionary optimization and image reconstruction are performed alternately. The new method tolerates a relatively high level of noise in measured voltages.

This paper aims to discuss flow pattern transition (FPT) as an important factor in multiple-phase flow measurements. Several methods have been proposed to control FPT, but those methods fail to address the many issues in complex flow conditions that can affect flow patterns.

In this paper, a non-intrusive sensor instrumentation is applied to extract measurable data under different flow conditions. Using these data, a simple theoretical–mathematical method along with an orthogonal design is applied to FPT optimization. Orthogonal experiments are designed and carried out according to theoretical guidelines. Three selected process parameters – phase fraction, gas pressure in the initial independent process and liquid speed – are optimized for FPT results to produce a minimum FPT time.

The following results are obtained: the phase fraction in the initial independent process can lead to significant reductions in FPT time, gas pressure plays an important role and liquid speed has no apparent effect on FPT results. Under optimized conditions, FPT time can be shortened to 0.3-0.6 times by controlling the above three parameters compared with normal conditions.

The proposed method is simple, rapid and efficient for evaluating an FPT process and lays the foundation for further FPT applications.

Classification of remote sensing images (RSI) is a challenging task in computer vision. Recently, researchers have proposed a variety of creative methods for automatic recognition of RSI, and feature fusion is a research hotspot for its great potential to boost performance. However, RSI has a unique imaging condition and cluttered scenes with complicated backgrounds. This larger difference from nature images has made the previous feature fusion methods present insignificant performance improvements.

This work proposed a two-convolutional neural network (CNN) fusion method named main and branch CNN fusion network (MBC-Net) as an improved solution for classifying RSI. In detail, the MBC-Net employs an EfficientNet-B3 as its main CNN stream and an EfficientNet-B0 as a branch, named MC-B3 and BC-B0, respectively. In particular, MBC-Net includes a long-range derivation (LRD) module, which is specially designed to learn the dependence of different features. Meanwhile, MBC-Net also uses some unique ideas to tackle the problems coming from the two-CNN fusion and the inherent nature of RSI.

Extensive experiments on three RSI sets prove that MBC-Net outperforms the other 38 state-of-the-art (STOA) methods published from 2020 to 2023, with a noticeable increase in overall accuracy (OA) values. MBC-Net not only presents a 0.7% increased OA value on the most confusing NWPU set but also has 62% fewer parameters compared to the leading approach that ranks first in the literature.

MBC-Net is a more effective and efficient feature fusion approach compared to other STOA methods in the literature. Given the visualizations of grad class activation mapping (Grad-CAM), it reveals that MBC-Net can learn the long-range dependence of features that a single CNN cannot. Based on the tendency stochastic neighbor embedding (t-SNE) results, it demonstrates that the feature representation of MBC-Net is more effective than other methods. In addition, the ablation tests indicate that MBC-Net is effective and efficient for fusing features from two CNNs.

The paper aims to tackle the classification of Remote Sensing Images (RSIs), which presents a significant challenge for computer algorithms due to the inherent characteristics of clustered ground objects and noisy backgrounds. Recent research typically leverages larger volume models to achieve advanced performance. However, the operating environments of remote sensing commonly cannot provide unconstrained computational and storage resources. It requires lightweight algorithms with exceptional generalization capabilities.

This study introduces an efficient knowledge distillation (KD) method to build a lightweight yet precise convolutional neural network (CNN) classifier. This method also aims to substantially decrease the training time expenses commonly linked with traditional KD techniques. This approach entails extensive alterations to both the model training framework and the distillation process, each tailored to the unique characteristics of RSIs. In particular, this study establishes a robust ensemble teacher by independently training two CNN models using a customized, efficient training algorithm. Following this, this study modifies a KD loss function to mitigate the suppression of non-target category predictions, which are essential for capturing the inter- and intra-similarity of RSIs.

This study validated the student model, termed KD-enhanced network (KDE-Net), obtained through the KD process on three benchmark RSI data sets. The KDE-Net surpasses 42 other state-of-the-art methods in the literature published from 2020 to 2023. Compared to the top-ranked method’s performance on the challenging NWPU45 data set, KDE-Net demonstrated a noticeable 0.4% increase in overall accuracy with a significant 88% reduction in parameters. Meanwhile, this study’s reformed KD framework significantly enhances the knowledge transfer speed by at least three times.

This study illustrates that the logit-based KD technique can effectively develop lightweight CNN classifiers for RSI classification without substantial sacrifices in computation and storage costs. Compared to neural architecture search or other methods aiming to provide lightweight solutions, this study’s KDE-Net, based on the inherent characteristics of RSIs, is currently more efficient in constructing accurate yet lightweight classifiers for RSI classification.

The COVID-19 pandemic has significantly raised economic risk and uncertainty worldwide. How does COVID-19 affect urban housing markets? Is there any difference when different areas encounter COVID-19? This study aims to investigate the impacts of the pandemic on housing prices by using Beijing’s housing markets data in 2020.

The authors use transaction-level data from April to September in 2020 to conduct a hedonic price analysis of the housing markets in Beijing. The data included 70,843 transactions scraped from a real estate agent’s website. The authors use the difference-in-differences approach to evaluate the impacts of the COVID-19 outbreak from the Beijing Xinfadi market (the largest and most important food wholesale market in Beijing) in 2020.

This outbreak of COVID-19 caused a 6.3% drop in housing prices in Beijing from April to September in 2020. However, the impacts of COVID-19 on housing prices in different urban neighbourhoods were spatially heterogeneous. Housing prices in neighbourhoods with industries that rely on face-to-face communication were more affected by the pandemic, while those that can work remotely were less affected.

By investigating the impacts of COVID-19 on housing prices in Beijing, this study illustrates that urban housing prices would be impacted by the pandemic, at least in the short term. While the rise and fall of housing prices were found spatially heterogeneous in Beijing, it suggests that urban neighbourhoods with specific socioeconomic characteristics and geographic locations would unfold different resilience when encountering pandemic. By using data scraping and rigorous statistical tools, the study is probably one of the first ones examining the consequences of COVID-19 in intra-urban housing markets.

The purpose of the present study is to contribute to the existing literature by examining the nexus and the connectedness between classes S&P Green Bond Index, S&P GSCI Crude Oil Index, S&P GSCI Gold, MSCI Emerging Markets Index, MSCI World Index and Bitcoin, during the pre-and post-Covid period beginning from August 2011 to July 2021 (10 years).

The study employs time-varying parameter vector autoregression and Quantile regression methods to understand the impact of events on traditional and upcoming asset classes. To further understand the connectedness of assets under consideration, the study used Geo-Political Risk Index (GPR) and Global Economic Policy and Uncertainty index (GPEU).

Findings show that these markets are strongly linked, which will only expand in the post-pandemic future. Before the pandemic, the MSCI World and Emerging Markets indices contributed the most shocks to the remaining market variables. Green bond index shows a greater correlation and shock transmission with gold. Bitcoin can no longer be used as a good hedging instrument, validating the fact that the 21st-century technology assets. The results further opine that under extreme economic consequences with high GPR and GPEU, even gold cannot be considered a safe investment asset.

Financial markets and the players who administer and communicate their investment logics are heavily reliant on conventional asset classes such as oil, gas, coal, nuclear and allied groupings, but these emerging asset classes are attempting to diversify.

The purpose of this paper is to test a catering theory by examining impacts of minority shareholders’ pressures on earnings management (EM), and attempt to answer: what is the role of minority shareholders participation (MSP) in corporate governance? and does MSP serve as an external monitor to managers, or does it put excessive pressure on them?

Using a novel online voting data set in China’s stock market, the author constructs the measure of MSP, and regress the EM on MSP. To address the endogeneity, the author introduces propensity score matching and difference-in-difference methods, instrumental variables, and Heckman estimation to show that the results are robust to different specifications and alternative measures.

The author documents that: MSP plays limited role in external monitoring; and firms facing high MSP levels tend to manage earnings more actively. In addition, information asymmetry, proposals’ importance, managerial incentives, and CEO financial expertise significantly affect firms’ catering behaviors.

This paper contributes to different strands of the literature. First, the finding significantly supports the catering hypothesis from a new perspective of EM. Second, the author contributes to a hotly debated issue in corporate governance: whether minority shareholders should be granted increased participation in corporate decisions? The results also provide timely empirical evidence for government regulators who are concerned about the costs and benefits of granting minority shareholders direct control over corporate decisions.

The purpose of this paper is to unpack the black box of post-merger and acquisition (M&A) integration of reverse M&A by Chinese multinational enterprises (MNEs).

This research adopts multiple cases of Chinese reverse M&A. Data are collected using the approaches of in-depth interviews, storytelling and narratives.

This research identifies various antecedents underlying Chinese post-M&A integration, such as asymmetries in resources, capabilities, vision and status between Chinese MNEs and acquired firms. The post-M&A integration process of Chinese reverse M&A consists of a top-down effortless integration initiated by Chinese MNEs with both benefits and problems, and a bottom-up reverse integration conducted by acquired firms.

By linking the pre-M&A phase and the post-M&A phase, this research builds a new model of post-M&A integration of Chinese reverse M&A from an indigenous Wu Wei paradigm. The new model counterpoises extant literature, shifting from the task and efficiency-focussed view to the people and harmony-focussed view.