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To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper…
To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper aims to explore a dynamic equity allocation model in which the shareholding ratio of the technology-based entrepreneurial firm changes with its growth and profit. Based on the dynamic equity allocation model, the authors design a financing structure which not only ensures timely and adequately obtaining the fund but also avoids equity dilution and safeguards the integrity of equity.
The paper selects high-tech companies listed in China as the sample for empirical research to identify the role of stock incentive and uses model deduction to find the equitable quantized benchmark for entrepreneurial management equity allocation. The study uses capital exclusivity as an entry point to perform theoretical analysis and demonstrates how the equity allocation of a technology-based entrepreneurial firm changes dynamically as the presentation speed of entrepreneurial management’s human capital exclusivity accelerates. The paper then constructs a conceptual model to design the financing structure of the technology-based entrepreneurial firm.
The study finds that stock incentive upwardly regulates debt financing and downwardly regulates equity financing. Based on characteristics of technology-based entrepreneurial firms, the paper suggests that the immediate surplus capital increment can signify the increasing presentation speed of human capital exclusivity, and it is proposed as an equitable quantized benchmark for equity allocation to entrepreneurial management. Based on the dynamic equity allocation model, the paper designs an internal equity and external debt financing structure.
The conclusions enrich the theoretical foundation for entrepreneurial management to participate in residual claim and provide practical guidance for equity allocation and financing structure design in the context of mass entrepreneurship and innovation. The paper also sets up a conceptual framework for solving two major issues of the technology-based entrepreneurial firm: timely acquisition of external funding and lasting maintenance of entrepreneurial management stability.
A novel non-pneumatic safety tire, namely mechanical elastic wheel (ME-Wheel), has been developed recently to solve problems, including tire bursting and flat tire, of…
A novel non-pneumatic safety tire, namely mechanical elastic wheel (ME-Wheel), has been developed recently to solve problems, including tire bursting and flat tire, of typical pneumatic tires. This paper aims to predict the life of the ME-Wheel accurately and settle the problem of lower lifespan.
This study proposes a new method to establish a novel model of virtual proving ground based on finite element analysis, and by combining with the random vibration damage analysis method, the life of an ME-Wheel is predicted precisely. Next, the weak parts and infinite life parts of the ME-Wheel are investigated from the perspective of constant life design, and an approximate response surface model is developed, which is suitable for the ME-Wheel. Then, the optimal results of the ME-Wheel are obtained, including tire modal, mass and its lifetime.
It is found that the proposed methods can provide a reliable theoretical basis for further improving the structural design and material selection of ME-Wheel parts. The results show that the improved ME-Wheel can reduce the weight and greatly improve the ability of anti-resonance, and the lifetime of ME-Wheel has significantly improved.
A new type of non-pneumatic tire (ME-Wheel) has been developed to avoid problems with traditional tires, such as tire leaking or puncture. A new method to establish a novel model of virtual proving ground based on finite element analysis has been proposed. The weakest key component of the ME-Wheel is determined. The life, mass and modal of the ME-Wheel are optimized.
We make use of the Volunteered Geographic Information (VGI) data to extract the total extent of the roads using remote sensing images. VGI data is often provided only as…
We make use of the Volunteered Geographic Information (VGI) data to extract the total extent of the roads using remote sensing images. VGI data is often provided only as vector data represented by lines and not as full extent. Also, high geolocation accuracy is not guaranteed and it is common to observe misalignment with the target road segments by several pixels on the images. In this work, we use the prior information provided by the VGI and extract the full road extent even if there is significant mis-registration between the VGI and the image. The method consists of image segmentation and traversal of multiple agents along available VGI information. First, we perform image segmentation, and then we traverse through the fragmented road segments using autonomous agents to obtain a complete road map in a semi-automatic way once the seed-points are defined. The road center-line in the VGI guides the process and allows us to discover and extract the full extent of the road network based on the image data. The results demonstrate the validity and good performance of the proposed method for road extraction that reflects the actual road width despite the presence of disturbances such as shadows, cars and trees which shows the efficiency of the fusion of the VGI and satellite images.