Search results

The purpose of this paper is to propose a novel method under the name of genetic simulated annealing algorithm (GSAA) and ant colony optimization (ACO) algorithm for assembly sequence planning (ASP) which is possessed of the competence for assisting the planner in generating a satisfied and effective assembly sequence with respect to large constraint assembly perplexity.

Based on the genetic algorithm (GA), simulated annealing, and ACO algorithm, the GSAA are put forward. A case study is presented to validate the proposed method.

This GSAA has better optimization performance and robustness. The degree of dependence on the initial assembly sequence about GSAA is decreased. The optimization assembly sequence still can be obtained even if the assembly sequences of initial population are infeasible. By combining GA and simulated annealing (SA), the efficiency of searching and the quality of solution of GSAA is improved. As for the presented ACO algorithm, the searching speed is further increased.

Traditionally, GA heavily depends on the choosing original sequence, which can result in early convergence in iterative operation, lower searching efficiency in evolutionary process, and non‐optimization of final result for global variable. Similarly, SA algorithms may generate a great deal of infeasible solutions in the evolution process by generating new sequences through exchanging position of the randomly selected two parts, which results in inefficiency of the solution‐searching process. In this paper, the proposed GSAA and ACO algorithm for ASP are possessed of the competence for assisting the planner in generating a satisfied and effective assembly sequence with respect to large constraint assembly perplexity.

A spherical motor is a novel electromechanical device that has obtained worldwide attention for its attractive advantages. A general analysis of electromagnetic torque in double excited spherical motor has been completed on the calculation of its 3D electromagnetic field distributions. The analysis accounts for the effect of open‐end region in the stator. Double scalar magnetic potentials method has been used in the FEM numerical analysis. On the computation results, the other electromagnetic parameters can be calculated, which will be very significant in the design and performance prediction of the spherical motor. The calculation results indicate that the device is capable of continuous speed control and efficient torque production.

The purpose of this paper is to investigate cultural and individual differences in newsvendor decision making.

The online experiment, programmed in the PHP scripting language, had 107 participants: local managers of four large, well-known and supply chain–intensive firms in China (Lenovo, Shenhua, CMST and GM).

The authors find that, as compared with American subjects, Chinese subjects engage in more demand chasing, order quantities that are closer to the mean demand, have a lower expected profit and exhibit greater variance in order quantities. However, these observations may not hold when the cross-cultural comparison is conducted for each pair of ethnic subgroups whose members have the same cognitive reflection test score, a measure of individual differences. Moreover, cultural differences also affect how individual differences manifest in newsvendor decisions.

The authors findings have important implications for employee selection, training and management in any cross-cultural business environment.

Little attention has been paid, in the behavioural operations literature, to individual differences and how they interact with culture. This paper is the first to examine the interaction effects of cultural and individual differences in newsvendor decisions, and it highlights an important research area that is currently understudied in operations management.

Based on fieldwork in Zhejiang 2000/01, the paper analyses the processes and mechanisms that shape China’s new private sector. The paper argues that the development of the private sector is characterised by the on‐going interaction between local jurisdictions, networks and entrepreneurs. The search for and protection of private property rights can be singled out as the most crucial factor for explaining the establishment and organisational form of firms. The empirical study can also help to explain why the family is no longer at the core of private firms, offering too small a resource base, and too little access to asset protecting networks.

Long-term contract is an important developing direction of China's coal industry coordination. This paper aims to discuss how to use contract for difference (CFD) to avoid risk and effectively increase the benefit of both coal and thermal power plants in the coal-electricity supply chain.

Based on prospect theory, this paper takes the risks and benefits of the coal and coal-fired power plants in the coal supply chain under CFD into balanced consideration to construct the contract coordination mechanism. In this mechanism, the coal demand in the coal supply chain equilibrium under centralized decision-making is regarded as the total annual volume of transactions needed to design the contract coordination mechanism and solve double marginalization. Then, based on prospect theory, in the construction of CFD, this paper takes the income of power and coal enterprises when they are in equilibrium under Stackelberg non-cooperative game as the reference point. In addition, considering that coal demand is a random variable, the CFD with a one-year trading session can be designed.

The research derives the coal price of the contract for difference, contract trading volume and its proportion of the total trading volume. A numerical example shows that the model above can be used to effectively avoid the risk of both coal and electricity sides.

To solve the conflict between coal enterprises and thermal power plants, let the coal-electricity supply chain be converted from non-cooperative game to cooperative game. Based on the prospect theory, this paper takes the income of the non-cooperative game of coal and thermal power plants as a reference point and considers how to design the coordination mechanism, the contract for difference, so as to make the two parties cooperate to solve the double marginal utility of the non-cooperative game in a chain supply. The main innovation of the work lies in the following: first, the coal demand when the coal-electrical supply chain is in balance under centralized decision-making is taken as the total annual trading volume needed to design the contract coordination mechanism and solve double marginalization. Second, based on prospect theory, in the construction of CFD, the benefits of coal-fired power plants and coal enterprises when both sides are in equilibrium under the Stackelberg non-cooperative game are taken as the reference points, and coal demand is taken as a random variable to design the CFD with a one-year transaction period. The price of coal that is not traded through CFD is calculated according to the daily market price. Third, this paper proposes the prospect M-V criterion of the risk-benefit equilibrium of both power and coal enterprises, which means that the risk-benefit equilibrium of both sides is the prospect variance effect of both sides relative to the reference point benefit divided by the prospect expectation effect.

The purpose of this paper is to examine the nature of equity ownership of state-owned enterprises (SOEs) for over 2,000 listed firms in China. The paper examines both the pattern of state ownership and the dynamics of stock returns and volatility. Firms under the control of SOEs dominate the Chinese stock markets and currently account for over three-quarters of total market capitalisation. Central SOEs are focused in strategic industries, while Local SOEs concentrate on pillar industries relating to consumer goods and services.

The authors obtain firm-level data from the Shanghai and Shenzhen stock markets and using panel estimation techniques examine the dynamics of returns, volatility and their relationship.

The authors report an increase in state control among listed firms compared to earlier reported figures. This is contradictory to the expectation of a lower state influence following China joining of the World Trade Organisation in 2001. In examining the behaviour of stock returns the authors find evidence of daily and monthly autocorrelations that are larger and of a different sign to that reported for western markets. The authors also report evidence of volatility persistence but little evidence of volatility asymmetry, again in contrast to that often reported for other markets. Finally, the authors find evidence of either no or a negative relationship between returns and volatility (risk) that differs from our usual view of risk aversion.

It is hoped, knowledge of these dynamics will increase the understanding of the Chinese equity market, which in turn is important for those engaged in international portfolio management and micro-structure modelling.

The purpose of this paper is to examine the impact of team performance, price dispersion – having multiple ticket prices for a single event, and market characteristics on fan attendance. By considering the context of the Chinese Super League (CSL), this study considers multiple strategies for enhancing the demand for sport in relation to factors on- and off-the-field of play.

This study uses economic demand theory to examine consumer interest in sporting events in relation to pricing. Through employing econometric modeling, regression analysis is used to estimate results from match-level data encompassing multiple seasons.

The findings estimated from the linear regressions indicate that using multi-tiered pricing for sporting events does not significantly enhance demand in this context. Furthermore, it is found that consumers are responsive to matches against rival teams and strong opponents.

The results run counter to prior literature on price dispersion, indicating that attendance demand may not always be influenced by the number of price points.

The findings help to develop an understanding of how team performance and pricing are important parts of meeting organizational goals in sport. From this, strategies can be formed to help stakeholders and managers in improving organizational performance.

This research is one of the first to consider the CSL, where both single and multiple price points exist for sporting events. Thus, it helps to build both theoretical and empirical knowledge in regards to the importance of pricing systems.