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In this chapter, the author considers a three-sector general equilibrium model in the context of a developing nation to find out the impact of an increase in foreign capital inflow on the welfare level of the nation. Comparative static analysis reveals that an increase in the inflow of foreign capital causes redistribution across the factors of production and a reallocation of resources, reflected through the change in output. Moreover, the author considers the case of technology transfer and proves that an increase in foreign capital inflow makes the country better off in terms of social welfare even if the foreign capital is fully repatriated. Hence, this work shows that in the absence of any trade distortion, a partial investment liberalisation causes a welfare gain for a small open economy.

The author develops and extends the asymptotic F- and t-test theory in linear regression models where the regressors could be deterministic trends, unit-root processes, near-unit-root processes, among others. The author considers both the exogenous case where the regressors and the regression error are independent and the endogenous case where they are correlated. In the former case, the author designs a new set of basis functions that are invariant to the parameter estimation uncertainty and uses them to construct a new series long-run variance estimator. The author shows that the F-test version of the Wald statistic and the t-statistic are asymptotically F and t distributed, respectively. In the latter case, the author shows that the asymptotic F and t theory is still possible, but one has to develop it in a pseudo-frequency domain. The F and t approximations are more accurate than the more commonly used chi-squared and normal approximations. The resulting F and t tests are also easy to implement – they can be implemented in exactly the same way as the F and t tests in a classical normal linear regression.

The study aims to design the limited number of random working cycle as a warranty term and propose two types of warranties, which can help manufacturers to ensure the product reliability during the warranty period. By extending the proposed warranty to the consumer's post-warranty maintenance model, besides the authors investigate two kinds of random maintenance policies to sustain the post-warranty reliability, i.e. random replacement first and random replacement last. By integrating depreciation expense depending on working time, the cost rate is constructed for each random maintenance policy and some special cases are provided by discussing parameters in cost rates. Finally, sensitivities on both the proposed warranty and random maintenance policies are analyzed in numerical experiments.

The working cycle of products can be monitored by advanced sensors and measuring technologies. By monitoring the working cycle, manufacturers can design warranty policies to ensure product reliability performance and consumers can model the post-warranty maintenance to sustain the post-warranty reliability. In this article, the authors design a limited number of random working cycles as a warranty term and propose two types of warranties, which can help manufacturers to ensure the product reliability performance during the warranty period. By extending a proposed warranty to the consumer's post-warranty maintenance model, the authors investigate two kinds of random replacement policies to sustain the post-warranty reliability, i.e. random replacement first and random replacement last. By integrating a depreciation expense depending on working time, the cost rate is constructed for each random replacement and some special cases are provided by discussing parameters in the cost rate. Finally, sensitivities to both the proposed warranties and random replacements are analyzed in numerical experiments.

It is shown that the manufacturer can control the warranty cost by limiting number of random working cycle. For the consumer, when the number of random working cycle is designed as a greater warranty limit, the cost rate can be reduced while the post-warranty period can't be lengthened.

The contribution of this article can be highlighted in two key aspects: (1) the authors investigate early warranties to ensure reliability performance of the product which executes successively projects at random working cycles; (2) by integrating random working cycles into the post-warranty period, the authors is the first to investigate random maintenance policy to sustain the post-warranty reliability from the consumer's perspective, which seldom appears in the existing literature.

As a core rotating component of power machinery and working machinery, the rotor system is widely used in the fields of machinery, electric power and aviation. When the system operates at high speed, the system stability is of great importance. To enhance the system stability, squeeze film damper (SFD) is being installed in the rotor system to alleviate vibration. The purpose of this paper is to first classify the rotor system into two types, the dual rotor system and the single rotor system, and to comprehensively and specifically mention the method of generating the dynamic model. Next, based on the establishment of a dynamic model with and without SFD in the rotor system, the optimization design of the rotor system with SFD was carried out using a genetic algorithm. Through sensitivity analysis, SFD clearance, shaft stiffness and oil viscosity were determined as design variables of the rotor system, and the objective function was the minimization of the maximum amplitude of the rotor system with SFD within the operation speed range.

In this paper, first, the rotor system was classified into two types, namely, the dual rotor system and the single rotor system, and the method of creating a dynamic model was comprehensively and specifically mentioned. Here, the dynamic model of the rotor system was derived in detail for the single rotor system and the dual rotor system with and without SFD. Next, based on the establishment of a dynamic model with and without SFD in the rotor system, the optimization design of the rotor system with SFD was carried out using a genetic algorithm. The sensitivity analysis of the unbalanced response was carried out to determine the design variables of the optimization design. Through sensitivity analysis, SFD clearance, shaft stiffness and oil viscosity were determined as design variables of the rotor system, and the objective function was the minimization of the maximum amplitude of the rotor system with SFD within the operation speed range.

SFD clearance, shaft stiffness and oil viscosity were determined as design variables of the rotor system through sensitivity analysis of the unbalanced response. These three variables are basic factors affecting the amplitude of the rotor system with SFD.

In the existing studies, only a dynamic model of a single rotor system with SFD was created, and the characteristic values of pure SFD were selected as optimization variables and optimization design was carried out. But in this study, the rotor system was classified into two types, namely, the dual rotor system and the single rotor system, and the method of creating a dynamic model was comprehensively and specifically mentioned. In addition, optimization design variables were selected and optimized design was performed through sensitivity analysis on the unbalanced response of factors affecting the vibration characteristics of the rotor system.

In the vibration reduction field, constrained stand-off layer damping cylindrical shell plays an important role. However, due to the lack of accurate analysis of its damping characteristics, this hinders its further research and application. Therefore, the purpose of this paper is concerned with an accurate solution for the vibration-damping characteristics of a constrained stand-off-layer damping cylindrical shell (CSDCS) under various classical boundary conditions and conducts a further analysis.

Based on the Rayleigh–Ritz method and the Hamilton principle, a dynamic model of CSDCS is established. Then the loss factor and the frequency of CSDCS are obtained. The correctness and convergence behavior of the present model are verified by comparing the calculation results with the literature. By using for various classical boundary conditions without any special modifications in the solution procedure, the characteristics of CSDCS with S-S, C-C, C-S, C-F and S-F boundaries are discussed.

The Rayleigh–Ritz method is effective in handling the problem of CSDCS with different boundaries and an accurate solution is obtained. The boundary conditions have an important influence on the vibration and damping behavior of the CSDCS.

Based on the Rayleigh–Ritz method and Hamilton principle, a dynamic model of CSDCS is established for the first time, and then the loss factor and frequency of CSDCS are obtained. In addition, the effectiveness of adding the stand-off layer between the base shell and the viscoelastic layer is confirmed by discussing the characteristics of CSDCS with S-S, C-C, C-S, C-F and S-F boundaries.

This paper reviews academic literature related to the consequences that outside directors and boards may face in the wake of earnings restatements and suggests directions for future research. We examine loss of board seats; recruitment of new directors; proxy recommendations and shareholder support; pre-emptive director departures; director wealth effects; director reputation, litigation, and sanction risks; international evidence; and legal proposals for reform. The overall picture that emerges from the literature is that directors’ primary risk in the wake of earnings restatements is loss of board seats, in part through adverse proxy advisor recommendations and reduced shareholder support. Directors typically face little risk of legal liability or SEC sanctions, and some directors pre-emptively leave a problem company’s board and reduce their loss of interlocked board seats. Some legal scholars have called for director liability to be increased so as to promote more vigilant board oversight. Companies often focus on increasing the independence of the board in the wake of a restatement in an effort to repair organizational reputation. While researchers have revealed a host of important findings to date, much more can be learned about the effects of restatements on outside directors and boards.