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The purpose of this paper is to examine public–private partnership (PPP) approaches for the construction of rental retirement villages in Australia and to allocate the investment proportions under a certain project return rate among three investors which are the government, private sectors and pension funds. The apportionment will achieve a minimum overall investment risk for the project.

Capital structure, particularly determination of investment apportionment proportions, is one of the key factors affecting the success of PPP rental retirement villages. Markowitz mean-variance model was applied to examine the investment allocations with minimum project investment risks under a certain projected return rate among the PPP partners for the construction of rental retirement villages.

The research findings validate the feasibility of the inclusion of pension funds in the construction of PPP rental retirement villages and demonstrate the existence of relationships between the project return rate and the investment allocation proportions.

This paper provides a quantitative approach for determination of the investment proportions among PPP partners to enrich the theory of PPP in relation to the construction of rental retirement villages. This has implications for PPP partners and can help these stakeholders make vital contributions in developing intellectual wealth in the PPP investment area while providing them with a detailed guide to decision making and negotiation in relation to investment in PPP rental retirement villages.

Targeting public–private partnership (PPP) rental retirement villages, the purpose of this paper is to bring forward the solution of insufficient research in a non-competitive guarantee (a restrictive agreement) towards the compensation and guarantee costs in consideration of benefit redistribution if the governments are unable to keep the promise on guarantee provision.

Real option principles are applied to assess the public–private investment proportions and the expected return rates of the private sector in a non-competitive guarantee and analyse their effects on the public–private benefit and risk allocations as well as the success of the project. Instead of granting direct capital support, this research accomplishes the compensation of non-competition guarantee by adjusting the project benefit distribution ratios between the government and the private sector to achieve the option value of the guarantee. An empirical example with alternative scales, which is developed from an existing rental village in Geelong, is used to numerically verify the research process.

The results illustrate that the option value of the non-competition guarantee plays an important role in supporting the implementation of the PPP rental retirement village projects. The option value of the non-competition guarantee has a close relationship with the guarantee level and the government guarantee cost, which is positively correlated with the guarantee level and negatively correlated with the government guarantee cost. To reduce the government guarantee cost, the government should carefully determine the public–private investment proportion, appropriately control the return rate of the private sector and approve the construction of the new project after the investment recovery of the private sector.

This research mainly focusses on the economic loss of the government due to the guarantee responsibility. Further research could be conducted to determine the guarantee level more precisely and take the social cost of the government guarantees into consideration.

This research is the first attempt to investigate the government compensation and costs of non-competition guarantee for PPP rental retirement village projects and will enhance the understanding of the nature of PPP applications. The evaluation process and the implementation of the compensation through the adjustment of benefit distribution provides a comprehensive method to analyse the non-competition guarantee of PPP projects and help the parties negotiate in good faith to agree on a method of redress.

Targeting public–private partnership (PPP) projects, the purpose of this paper is to help decision makers fairly allocate financial risk between governments and private investors through a properly designed length of concession period.

On the one hand, the length of the concession period should be long enough to help private investors to achieve their expected profits. On the other hand, the length of a concession period cannot be decided without agreeing on an upper limit, since an overlong concession period takes too much time for governments to recover their investment and leads to an overly lucrative condition for private investors. Following this logic, the concession period decision range is decided, which defines the lower and upper limits for the length of the concession period. The net present values (NPVs) for governments and private investors are estimated via Monte Carlo simulation to better reflect the uncertainties. To further decide on the optimal length of the concession period, the principle of fair risk allocation between governments and private investors is adopted. The concession period, as an important project parameter, should help to minimize the financial risk gap between governments and private investors.

The developed concession period determination process is validated using a numerical example of a PPP transportation project. The analysis outcomes show that the proposed methodology is capable of determining the length of the concession period so as to control private investors’ profit within a reasonable range while achieving a fair allocation of financial risk between governments and private investors. The outcomes also indicate that, before determining the optimal length for the concession period, governments may need to make a choice between better financial risk allocation or stringent profit control for private investors.

The determination process developed here may be inapplicable to social infrastructure PPPs where the income stream is less predictable. In addition, the data analysis targets a highway project with a capital subsidy provided by the government. To strengthen the effectiveness of the proposed determination process, further research should apply the model to PPPs with other kinds of government support.

The concession period for a PPP project is an important parameter and it is a common practice for governments to predetermine the length of the concession period before inviting tenders. The existing models for determining the concession period focus too much on the simulation of NPVs for project parties and neglect the importance of risk allocation in signing and maintaining a long-term contract. There is also a lack of research to evaluate the influence of governments’ preferences on the length of the concession period. To overcome the limitations of the existing models and enrich the methodology for concession period determination, this paper contributes to the body of knowledge by developing a concession period determination process which can help governments to make better decisions. The financial risk is expected to be more evenly shared between governments and private investors with the concession period derived from the proposed process. This determination process is also capable of evaluating the influence of governments’ preferences on the length of the concession period.

Considering there is a lack of research in determining the optimal levels of government guarantee and revenue cap, the objective of this research is to determine their optimal levels to achieve a reasonable financial risk allocation between governments and private investors while avoiding overly lucrative conditions for private investors.

Expanded net present value (NPV) analysis and bargaining game theory are employed to construct the core of the determination process. The risk gap between governments and private investors is assessed via an expanded NPV analysis to see if the financial risk has been shared reasonably, based on which the range of the government guarantee is decided. A bargaining model is then created to help locate the optimal level of the government guarantee. Finally, a revenue cap, often combined with the government guarantee in public–private partnership (PPP) agreements, will be determined if overly lucrative conditions for private investors are observed or governments suffer a risk spillover.

Referring to a real PPP project in Australia, Project BA is created to validate the applicability of the proposed determination process. The outcome shows that the proposed determination process in this paper is capable of determining the optimal levels of government guarantee and revenue cap. The government preferences towards risk allocation will influence the values of the optimal levels. Governments may also consider to alleviate the control over investors' net profits to mobilise private investors into PPP projects.

There is a potential possibility that the revenue cap fails to control the financial risk for governments or the overly lucrative condition for private investors. In other words, even though the revenue cap is set at the minimal level, the financial risk for governments still beyond their tolerance range or the overly lucrative condition for private investors still occurs. Future research may focus on other financial protective schemes which help to better control the financial risks for governments and profits for private investors.

Government guarantees are frequently used as an investment incentive to reduce the probabilities of suffering loss for private investors. Nevertheless, the financial risks for governments may increase after providing guarantees and, as a result, revenue cap is required by governments to avoid placing themselves in an unprotected situation. By recognising the importance of the two contractual parameters, many scholars dig into their option values. However, there are very rare research works focussing on the method of determining the specific levels of government guarantee and revenue cap. To overcome the limitations of existing models and enrich the methodology for government guarantee and revenue cap determination, this paper contributes to the body of knowledge by developing a government guarantee and revenue cap determination process which contributes to a reasonable allocation of financial risks between governments and private investors.

The objective of this paper is to empirically test and verify the influence of information and communication technology (ICT) capability on environmental performance (EP) of manufacturing, as well as the moderating effect of heterogenous factors and the mediating effect of ambidextrous innovation in the context of the Chinese manufacturing firms.

The data come from the World Bank Enterprise Survey of China conducted from December 2011 to February 2013. The logistic regression is applied with Stata 15, and the robustness test by three methods is employed to verify the reliability of the results in this paper.

The research results suggest that the positive relationship between ICT capability and EP is moderated by two heterogenous factors, including main market and industry attributes. Meanwhile, the positive relationship between ICT capability and EP is mediated by ambidextrous innovation.

This work highlights ICT capability as an important, yet underexplored antecedent in improving the EP of manufacturing firms. This research further uncovers the moderating role of main market and industry attributes, as well as the mediating mechanism by introducing ambidextrous innovation in the relationship between ICT capability and EP.

The purpose of this paper is to discuss nationalistic education in Hong Kong from a cultural perspective. It highlights the challenges faced by the Hong Kong Government and the growing antagonism and mistrust between the young generation and the government. The paper reviews the cultural policies adopted by the Western Zhou, Han and Tang dynasties in ancient China.

This paper adopts a historical approach by reviewing the policies in music and culture in the Chinese history and argues for the adoption of a soft approach to nationalistic education in Hong Kong.

Results show that being inclusive toward diverse cultures, trusting and valuing people’s voices and accepting differences of opinion are effective policies that were adopted by the respective dynasties. The results shed light on the possibility of nurturing nationalism through education in music and culture.

The historical examples mentioned in this paper are only selected periods of the Chinese history. Thus, the survey could not be taken as a comprehensive review.

This paper reviews the policies concerning music and culture in ancient China and argues for transferring the soft approach of predecessors toward these subjects as part of the nationalistic education of Hong Kong.

The results shown should be considered seriously by the Hong Kong Government as an effective substitute policy for the past stringent approach of implementing national education in Hong Kong. Nationalistic education focusing on music and culture is a common root for all Chinese and should be used in future to build up trust and common values between China and Hong Kong.

The originality of this research lies in its dealing with nationalism and national education, recommending a soft approach to education viewed through the prisms of music and culture.

This chapter focuses on pedagogies of working with diversity centers on West-East reciprocal learning through a Reciprocal Learning Program in preservice teacher education between a Canadian university and a Chinese university. By presenting our initial analysis of fieldwork with our Teacher Education Reciprocal Learning Program participants through excerpts from newsletters, surveys, and interviews, we explore how participants from both China and Canada made sense of their learning from the other cultural and educational system through the Reciprocal Learning Program within broad educational, social, and cultural contexts. We argue that both global and multicultural dimensions are cultivated in reciprocal learning that infused the lived experiences of both Canadian and Chinese preservice teacher candidates. We discuss the pedagogic implications for working with diversity and believe that reciprocal learning can take place while working with people from different cultures with an attitude of mutual respect and appreciation and an appetite for learning in our increasingly interconnected world.

The majority of existing studies about named entity recognition (NER) concentrate on the prediction enhancement of deep neural network (DNN)-based models themselves, but the issues about the scarcity of training corpus and the difficulty of annotation quality control are not fully solved, especially for Chinese ancient corpora. Therefore, designing a new integrated solution for Chinese historical NER, including automatic entity extraction and man-machine cooperative annotation, is quite valuable for improving the effectiveness of Chinese historical NER and fostering the development of low-resource information extraction.

The research provides a systematic approach for Chinese historical NER with a three-stage framework. In addition to the stage of basic preprocessing, the authors create, retrain and yield a high-performance NER model only using limited labeled resources during the stage of augmented deep active learning (ADAL), which entails three steps—DNN-based NER modeling, hybrid pool-based sampling (HPS) based on the active learning (AL), and NER-oriented data augmentation (DA). ADAL is thought to have the capacity to maintain the performance of DNN as high as possible under the few-shot constraint. Then, to realize machine-aided quality control in crowdsourcing settings, the authors design a stage of globally-optimized automatic label consolidation (GALC). The core of GALC is a newly-designed label consolidation model called simulated annealing-based automatic label aggregation (“SA-ALC”), which incorporates the factors of worker reliability and global label estimation. The model can assure the annotation quality of those data from a crowdsourcing annotation system.

Extensive experiments on two types of Chinese classical historical datasets show that the authors’ solution can effectively reduce the corpus dependency of a DNN-based NER model and alleviate the problem of label quality. Moreover, the results also show the superior performance of the authors’ pipeline approaches (i.e. HPS + DA and SA-ALC) compared to equivalent baselines in each stage.

The study sheds new light on the automatic extraction of Chinese historical entities in an all-technological-process integration. The solution is helpful to effectively reducing the annotation cost and controlling the labeling quality for the NER task. It can be further applied to similar tasks of information extraction and other low-resource fields in theoretical and practical ways.

The purpose of this paper is to form good cutting qualities in glass-epoxy material for opening flexible areas of rigid-flex printed circuit boards (PCB) by ultraviolet (UV) laser cutting.

The cut width and cut depth of glass-epoxy materials were both observed to evaluate their cutting qualities. The heat affected zone (HAZ) of the glass-epoxy material was also investigated after UV laser cutting. The relationships between the cut width and the parameters of various factors were analyzed using an orthogonal experimental design.

The cut width of the glass-epoxy material gradually increased with the increment of the laser power and Z-axis height, while cutting speed and laser frequency had less effect on the cut width. Optimal parameters of the UV laser process for cutting glass-epoxy material were obtained and included a laser power of 6W, a cutting speed of 170 mm/s, a laser frequency of 50 kHz and a Z-axis height of 0.6 mm, resulting in an average cut width of 25 μm and small HAZ.

Flexible areas of rigid-flex PCBs are in good agreement with the cutting qualities of the UV laser. The use of a UV laser process could have important potential for cutting glass-epoxy materials used in the PCB industry.