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Article
Publication date: 14 June 2019

Xiaoning Long

Innovation is the fundamental driving force for the long-term sustainable development of an economy. After four decades of rapid economic growth, China is facing crises…

Abstract

Purpose

Innovation is the fundamental driving force for the long-term sustainable development of an economy. After four decades of rapid economic growth, China is facing crises related to a demographic structure of “aging before getting rich,” industrial overcapacity of low-end products and environmental and resources constraints. This paper aims to discuss these issues.

Design/methodology/approach

Based on logical analysis and recapitulation of previous empirical research, this study presents the conclusion.

Findings

Scientific and technological innovation, as strategic support to improve social productivity and overall national strength, must be placed at the center of the country’s overall development.

Originality/value

The development model that preys upon cheap resources for extensive growth is unsustainable. Thus, the country needs an urgent strategic switch to drive its economic growth through research and development innovation and original technological advancement.

Details

China Political Economy, vol. 2 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

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Article
Publication date: 15 January 2019

Jun Wang, Zili Li, Gan Cui, JianGuo Liu, Chuanping Kong, Long Wang, Ge Gao and Jian Guo

The purpose of this paper is to study the corrosion behaviors of X70 steel under direct current (DC) interference at 0-1,200 A/m2 in simulated soil solution.

Abstract

Purpose

The purpose of this paper is to study the corrosion behaviors of X70 steel under direct current (DC) interference at 0-1,200 A/m2 in simulated soil solution.

Design/methodology/approach

The Tafel polarization curves of X70 steel under DC interference were tested using electrochemical method, the corrosion rate was calculated using weight-loss method and the change in steel surface was analyzed by optical microscopy.

Findings

The results showed that E-I polarization curves under 200-1,200 A/m2 interference were linear; with an increase in the DC density, the corrosion potential of X70 steel shifted positively, solution pH after the weight-loss tests increased and corrosion rate increased linearly. A mathematical relationship between polarization resistance Rp and current density was established. Corrosion morphology indicated that pitting corrosion and crevice corrosion occurred on the X70 steel under DC interference in simulated soil solution.

Originality/value

All tests were conducted at a relative higher DC density (200-1,200 A/m2). The linear fitting method is proposed to fit data of Tafel polarization curves under DC interference. This study provides guidelines for safe operation of X70 steel pipelines.

Details

Anti-Corrosion Methods and Materials, vol. 66 no. 3
Type: Research Article
ISSN: 0003-5599

Keywords

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Article
Publication date: 5 March 2018

Kairong Shi, Zhijian Ruan, Zhengrong Jiang, Quanpan Lin and Long Wang

The purpose of this paper is to propose a new hybrid algorithm, named improved plant growth simulation algorithm and genetic hybrid algorithm (PGSA-GA), for solving…

Abstract

Purpose

The purpose of this paper is to propose a new hybrid algorithm, named improved plant growth simulation algorithm and genetic hybrid algorithm (PGSA-GA), for solving structural optimization problems.

Design/methodology/approach

PGSA-GA is based on PGSA and three improved strategies, namely, elitist strategy of morphactin concentration calculation, strategy of intelligent variable step size and strategy of initial growth point selection based on GA. After a detailed formulation and explanation of its implementation, PGSA-GA is verified using the examples of typical truss and single-layer lattice shell.

Findings

Improved PGSA-GA was implemented and optimization was carried out for two typical optimization problems; then, a comparison was made between the PGSA-GA and other methods. The results show that the method proposed in the paper has the advantages of high efficiency and rapid convergence, which enable it to be used for the optimization of various types of steel structures.

Originality/value

Through the examples of typical truss and single-layer lattice shell, it shows that the optimization efficiency and effect of PGSA-GA are better than those of other algorithms and methods, such as GA, secondary optimization method, etc. The results show that PGSA-GA is quite suitable for structural optimization.

Details

Engineering Computations, vol. 35 no. 1
Type: Research Article
ISSN: 0264-4401

Keywords

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Article
Publication date: 21 July 2020

Liang Zeng

To develop the theory and application of the grey prediction model, this investigation constructs a novel discrete grey Riccati model termed DGRM(1,1).

Abstract

Purpose

To develop the theory and application of the grey prediction model, this investigation constructs a novel discrete grey Riccati model termed DGRM(1,1).

Design/methodology/approach

By examining a special kind of Riccati difference equation and the structure of the conventional discrete grey model (DGM), we advance a novel DGRM, and the model's prediction effect is evaluated by two numerical examples and an application case and compared with that of other conventional grey models.

Findings

The average relative simulation error of DGRM(1,1) does not change if the model is built after the original sequence has been transformed by a multiplier, and the new model is suitable to predict monotonically increasing, monotonically decreasing and unimodal sequences.

Practical implications

DGRM(1,1) is utilized to forecast the development cost of a small plane owned by the Aviation Industry Corporation of China (AVIC) with an original data sequence from 2006 to 2013. The outcomes indicate that DGRM(1,1) exhibits high precision and potential in development cost prediction.

Originality/value

Combining the Riccati difference equation with the conventional DGM, the author advances a new grey model that is suitable to predict three kinds of data series with different changing trends.

Details

Grey Systems: Theory and Application, vol. 11 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 1 December 2004

Sydney Finkelstein and Scott Borg

What is strategy? Countless books, MBA programs, executive education initiatives, and consultants are available to answer this question in excruciating detail. But let’s…

Abstract

What is strategy? Countless books, MBA programs, executive education initiatives, and consultants are available to answer this question in excruciating detail. But let’s cut to the chase. Strategy is what a company does, or doesn’t do, to fulfill its vision in a competitive marketplace.

Details

Handbook of Business Strategy, vol. 5 no. 1
Type: Research Article
ISSN: 1077-5730

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Article
Publication date: 23 August 2013

Kenneth Yung, Qian Sun and Hamid Rahman

The purpose of this paper is to investigate the role of acquirer's earnings quality on the choice of payment method in mergers and acquisitions (M&A).

Abstract

Purpose

The purpose of this paper is to investigate the role of acquirer's earnings quality on the choice of payment method in mergers and acquisitions (M&A).

Design/methodology/approach

The paper applies a simultaneous equations model to address the concern of endogeneity between earnings quality and payment method in corporate acquisitions. In addition, a propensity score matching model is used for robustness purpose.

Findings

Previous studies imply that short‐term accruals have a significant impact on the choice of payment method in M&A. In this study, This paper shows that acquisition financing is not significantly affected by short‐term earnings quality once control variables are considered. Instead, this paper finds that it is the long‐term earnings quality of the acquirer that matters. Acquiring firms with poor (good) long‐term earnings quality prefer lower (higher) cash payment in acquisitions. Their results are robust to different definitions of earnings quality.

Research limitations/implications

Researchers should consider the effect of long‐term earnings quality in their future investigations.

Practical implications

Investors should be aware of this issue when evaluating corporate mergers.

Originality/value

This is the first study to examine the impact of long‐term quality of earnings on the choice of payment method in M&A.

Details

Managerial Finance, vol. 39 no. 10
Type: Research Article
ISSN: 0307-4358

Keywords

Content available
Article
Publication date: 26 June 2020

Yubin Wang, Jingjing Wang and Xiaoyang Wang

The authors explicitly evaluate the dynamic impact of five most concerned supply chain disruption scenarios, including: (1) a short-term shortage and price jump of corn…

Abstract

Purpose

The authors explicitly evaluate the dynamic impact of five most concerned supply chain disruption scenarios, including: (1) a short-term shortage and price jump of corn supply in hog farms; (2) a shortage of market hogs to packing facilities; (3) disruption in breeding stock adjustments; (4) disruption in pork import; and (5) a combination of scenario (1)–(4).

Design/methodology/approach

The agricultural supply chain experienced tremendous disruptions from the COVID-19 pandemic. To evaluate the impact of disruptions, the authors employ a system dynamics model of hog market to simulate and project the impact of COVID-19 on China hog production and pork consumption. In the model the authors explicitly characterize the cyclical pattern of hog market. The hog cycle model is calibrated using market data from 2018–2019 to represent the market situation during an ongoing African swine fever.

Findings

The authors find that the impacts of supply chain disruption are generally short-lived. Market hog transportation disruption has immediate impact on price and consumption. But the impact is smoothed out in six months. Delay in import shipment temporarily reduces consumption and raises hog price. A temporary increase of corn price or delay in breeding stock acquisition does not produce significant impact on national hog market as a whole, despite mass media coverage on certain severely affected regions.

Originality/value

This is the first evaluation of short-term supply chain disruption on China hog market from COVID-19. The authors employ a system dynamics model of hog markets with an international trade component. The model allows for monthly time step analysis and projection of the COVID-19 impact over a five-year period. The results and discussion have far-reaching implications for agricultural markets around the world.

Details

China Agricultural Economic Review, vol. 12 no. 3
Type: Research Article
ISSN: 1756-137X

Keywords

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Case study
Publication date: 17 October 2012

Ramakrishna Velamuri, Yuan Ding and Jianhua Zhu

Entrepreneurship.

Abstract

Subject area

Entrepreneurship.

Study level/applicability

This case is suitable for MBA, EMBA and advanced undergraduate students.

Case overview

Noah Wealth Management was founded by Ms Wang Jingbo, a lady in her mid 30s with a team of less than 20 members in 2005. Exploiting market opportunities offered by a lack of good wealth management products and services, Noah grew rapidly from one branch office in 2005 to 59 branch offices in 2011, reaching a staff size of 1,031. Noah listed its shares on the New York Stock Exchange in November 2010. In 2011, Noah was ranked No. 38 among the 100 Top Potential Enterprises in China. Nonetheless, Noah faced several problems of internal management during the course of its fast expansion. In the first quarter financial report of 2012, Noah suffered a 52.6 percent decrease in net income over the corresponding period in 2011. Faced with a rapidly declining share price, Noah announced on May 22, 2012 a US $30 million share repurchase program.

Expected learning outcomes

The case supports a basic lesson on the entrepreneurial cycle, including assessing a business opportunity, resource mobilization, identifying a business model, growth of the venture, listing on the stock market, and subsequent growth challenges. Students can learn about some of the typical dilemmas faced by founders of entrepreneurial ventures, including how to maintain the corporate culture while growing fast and how to prevent members of the founding team from becoming bottlenecks to the development of the organization. The case can also provide management students with an overview of China's wealth management industry.

Supplementary materials

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

Details

Emerald Emerging Markets Case Studies, vol. 2 no. 8
Type: Case Study
ISSN: 2045-0621

Keywords

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Article
Publication date: 1 April 2005

Sydney Finkelstein

To develop a perspective on strategy that builds off of case histories of failure to provide insights on what works and doesn't work in corporate strategies.

Abstract

Purpose

To develop a perspective on strategy that builds off of case histories of failure to provide insights on what works and doesn't work in corporate strategies.

Design/methodology/approach

Several original case studies are presented, along with a series of analytical points that are suggested from these studies. The case studies are based on both primary (interviews) and secondary data. The paper used these case studies to make several basic points about corporate strategy.

Findings

The critical findings relate to how executives misread the competitive landscape, fall into the trap of believing in their own strategy in the absence of confirming evidence, and sometimes engage in desperate decisions to try to remedy fundamental problems that cannot be so easily resolved.

Research limitations/implications

The data in the paper are all based on subjective assessments of the competitive and business arenas firm were engaged in, and hence may subject to a variety of biases.

Practical implications

The paper focuses on how individual executives can use the analysis presented to prevent and/or avoid the same pitfalls companies often succumb to.

Originality/value

The data, approach, and analysis are all original to this paper. It presents a counterweight to the dominant approach in research on strategy that focused solely on best practice by providing examples of how failure can be used as a learning device in organizations. The paper should be of value to practicing executives, as well as researchers interested in corporate mistakes and failures.

Details

Journal of Business Strategy, vol. 26 no. 2
Type: Research Article
ISSN: 0275-6668

Keywords

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Book part
Publication date: 16 December 2009

Zongwu Cai and Yongmiao Hong

This paper gives a selective review on some recent developments of nonparametric methods in both continuous and discrete time finance, particularly in the areas of…

Abstract

This paper gives a selective review on some recent developments of nonparametric methods in both continuous and discrete time finance, particularly in the areas of nonparametric estimation and testing of diffusion processes, nonparametric testing of parametric diffusion models, nonparametric pricing of derivatives, nonparametric estimation and hypothesis testing for nonlinear pricing kernel, and nonparametric predictability of asset returns. For each financial context, the paper discusses the suitable statistical concepts, models, and modeling procedures, as well as some of their applications to financial data. Their relative strengths and weaknesses are discussed. Much theoretical and empirical research is needed in this area, and more importantly, the paper points to several aspects that deserve further investigation.

Details

Nonparametric Econometric Methods
Type: Book
ISBN: 978-1-84950-624-3

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