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The aim of this paper is to examine the effect of information disclosure by unlisted bond issuers on the stock price informativeness of listed firms in the same industry.

This paper takes advantage of information disclosure during the bond issuance and examines the spillover effect of unlisted bond issuers' information disclosure on listed firms in the stock market. The sample is composed of A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2007 to 2018. All the data are obtained from the China Stock Market and Accounting Research and WIND databases. The impact of bond market information disclosure on price informativeness of listed firms in the same industry is identified through multivariate regression analyses.

Empirical results show that price informativeness of listed firms has a significantly positive association with the information disclosure of same-industry unlisted bond issuers. Further analyses show that the above finding is more significant when information disclosure of bond issuers is a more important channel for acquiring industry information (i.e. when industry is more concentrated, when economic uncertainty is high, and when industry information is less transparent) and understanding the industry competitive landscape (i.e. when bond issuers are relatively large, when bond issuers and listed firms have more direct product competition, when bond issuance firms are large-scale state-owned business groups), and when there are more cross-market information intermediaries (i.e. more cross-market institutional investors and more sell-side analysts). This paper indicates that information disclosure of bond issuers has a positive spillover effect on the stock market.

The novelty of the research is that the authors examine industry information spillover from unlisted firms to listed firms leveraging on unlisted firms' information disclosure in bond markets.

This study aims to improve the availability of regenerative braking for urban metro vehicles by introducing a sensorless operational temperature estimation method for the braking resistor (BR) onboard the vehicle, which overcomes the vulnerability of having conventional temperature sensor.

In this study, the energy model based sensorless estimation method is developed. By analyzing the structure and the convection dissipation process of the BR onboard the vehicle, the energy-based operational temperature model of the BR and its cooling domain is established. By adopting Newton's law of cooling and the law of conservation of energy, the energy and temperature dynamic of the BR can be stated. To minimize the use of all kinds of sensors (including both thermal and electrical), a novel regenerative braking power calculation method is proposed, which involves only the voltage of DC traction network and the duty cycle of the chopping circuit; both of them are available for the traction control unit (TCU) of the vehicle. By utilizing a real-time iterative calculation and updating the parameter of the energy model, the operational temperature of the BR can be obtained and monitored in a sensorless manner.

In this study, a sensorless estimation/monitoring method of the operational temperature of BR is proposed. The results show that it is possible to utilize the existing electrical sensors that is mandatory for the traction unit’s operation to estimate the operational temperature of BR, instead of adding dedicated thermal sensors. The results also validate the effectiveness of the proposal is acceptable for the engineering practical.

The proposal of this study provides novel concepts for the sensorless operational temperature monitoring of BR onboard rolling stocks. The proposed method only involves quasi-global electrical variable and the internal control signal within the TCU.

The purpose of this study is to investigate the effects of film holes’ arrangements and jet Reynolds number on flow structure and heat transfer characteristics of jet impingement conjugated with film cooling in a semicylinder double wall channel.

Numerical simulations are used in this research. Streamlines on different sections, skin-friction lines, velocity, wall shear stress and turbulent kinetic energy contours near the concave target wall and vortices in the double channel are presented. Local Nusselt number contours and surface averaged Nusselt numbers are also obtained. Topology analysis is applied to further understand the fluid flow and is used in analyzing the heat transfer characteristics.

It is found that the arrangement of side films positioned far from the center jets helps to enhance the flow disturbance and heat transfer behind the film holes. The heat transfer uniformity for the case of 55° films arrangement angle is most improved and the thermal performance is the highest in this study.

The film holes’ arrangements effects on fluid flow and heat transfer in an impingement cooled concave channel are conducted. The flow structures in the channel and flow characteristics near target by topology pictures are first obtained for the confined film cooled impingement cases. The heat transfer distributions are analyzed with the flow characteristics. The highest heat transfer uniformity and thermal performance situation is obtained in present work.

The interconnections between climate change and health are well studied. However, there is a perceived need for studies that examine how responses to health hazards (e.g. cardiovascular diseases, ozone layer effects, allergens, mental health and vector-borne diseases) may assist in reducing their impacts. The purpose of this paper is to review the evidence on health responses to climate hazards and list some measures to address them.

A mixed literature review, bibliometric analysis and an original online survey were undertaken on 140 participants from 55 countries spread across all geographical regions.

The bibliometric analysis identified that most climate-related health hazards are associated with extreme weather events. However, only one-third of the investigated papers specifically analysed the connections between climate change and health hazards, revealing a thematic gap. Also, although Africa is highly affected by climate change, only 5% of the assessed studies focused on this continent. Many respondents to the survey indicated “heat distress” as a significant vulnerability. The survey also identified social determinants relevant to climate-induced health vulnerabilities, such as socioeconomic and environmental factors, infrastructure and pre-existing health conditions. Most respondents agree that policies and regulations are the most effective adaptation tools to address the public health hazards triggered by climate change. This paper presents some suggestions for optimising public health responses to health hazards associated with climate change, such as the inclusion of climate-related components in public health policies, setting up monitoring systems to assess the extent to which specific climate events may pose a health threat, establishing plans to cope with the health implications of heatwaves, increased measures to protect vulnerable groups and education and awareness-raising initiatives to reduce the overall vulnerability of the population to climate-related health hazards. These measures may assist the ongoing global efforts to understand better – and cope with – the impacts of climate change on health.

The combination of a literature review, bibliometric analysis and an original world survey identified and presented a wide range of responses.

This paper examines the influence Japan’s participation in the TPP negotiations will have on the course of subsequent East Asian economic integration, and mainly from the perspective of the three Northeast Asian countries of Japan, China and the ROK. In the first half, as a premise thereto, we first bring together the development of the FTA policies of China, the ROK and Japan, and then the connections with East Asian economic integration.

This paper applies the decomposition method proposed by Wang et al. (2013), together with the multi-national input-output tables from World Input-Output Database (WIOD) to estimate the value-chain transition in East Asian production network. Specifically, we calculate and examine the domestic value-added absorbed abroad, foreign value-added embodied in country’s gross exports, and vertical specialization measures to explore the relative positions of major East Asian countries in the global production chain over the period of 1995-2011. The analyses are at country-aggregate, country-sector, bilateral-aggregate and bilateral-sector levels. Based on our results, we answer the important question of whether Taiwan and South Korea have used China’s production chains as an intermediary to re-export their products to other countries in the world. Furthermore, we answer the question that over the 1995-2011 periods, have Taiwan and South Korea exploited cheap labor from China to add value to their products before re-exported them to the rest of the world?

Intuitionistic linguistic fuzzy information (ILFI), characterized by linguistic terms and intuitionistic fuzzy sets (IFSs), can easily express the fuzzy information in the process of muticriteria decision making (MCDM) and muticriteria group decision making (MCGDM) problems. The purpose of this paper is to provide an overview of aggregation operators (AOs) and applications of ILFI.

First, some meaningful AOs for ILFI are summarized, and some extended MCDM approaches for intuitionistic uncertain linguistic variables (IULVs), such as extended TOPSIS, extended TODIM, extended VIKOR, are discussed. Then, the authors summarize and analyze the applications about the AOs of IULVs.

IULVs, characterized by linguistic terms and IFSs, can more detailed and comprehensively express the criteria values in the process of MCDM and MCGDM. Therefore, lots of researchers pay more and more attention to the MCDM or MCGDM methods with IULVs.

The authors summarize and analyze the applications about the AOs of IULVs Finally, the authors point out some possible directions for future research.