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Coal and power generation are related upstream and downstream industries. Coal price marketization and electricity price regulation have caused the price of coal to be sensitive to the benefits of generators. The paper aims to discuss these issues.

As a financial tool, contracts for differences can both help balance interests and reduce risks caused by spot price fluctuation. This thesis regards coal demand as a triangular fuzzy stochastic variable while directing a levelling consideration towards risk returns for coal and power enterprises that are involved in coal generation contracts for differences. Risk and benefit measurement models were established between coal suppliers and power generators, and risk and benefit balance optimization models for contract negotiation were constructed.

A numerical example showed that the above models can be effectively used to avoid the risks of coal-electricity parties.

This thesis regards coal demand as a triangular fuzzy random variable while directing a levelling consideration towards the risk return to coal and power enterprises that are involved with coal generation contracts for differences. The features of this thesis are the following: demand information is regarded as a fuzzy random variable instead of a random variable. With historical data, sales experience and increasingly clear macro-economic conditions, coal and power enterprises are able to make a fuzzy decision – to a certain extent – when the transaction approaches. Accurate market information enables the supply chain system to satisfy the clients’ needs better, improve the profit level or avoid severe financial damages; by developing a feasible set of contracts for different parameters, it is possible to estimate whether the price difference enables supply chain coordination, requires changes or gives accounts to all involved parties of the supply chain; and without the assumption that the traditional M-V rule is unfavourable to decision makers, this thesis proposes the prospect M-V rule, which involves decision makers’ projections of future coal generation prices and enables wide applicability of the response method to contracts for differences.

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 paper aims to explore the factors that influence the risk perception. The moderating roles of purchase experience and purchase involvement are also investigated.

The conceptual model is framed into the SOR (stimulus-organism-response) model, which was tested using data collected from the users of a leading group buying platform in China, with the help of LISREL.

The result indicates that both vendor- and intermediary-related factors exert negative yet significant influences on perceived risk. The relationships between vendor-related attributes and perceived risk are contingent on purchase involvement. The relationships between intermediary-related attributes and perceived risk are subject to purchase experience.

This study explores the moderating effects of purchase experience and purchase involvement based on the characteristics of group buying, demonstrating the differences from traditional online shopping.

A detailed analytical study of Leping bark liptobiolith in Jiangxi was conducted to determine its petrographic characteristics and depositional environment based on coal petrography and geochemistry. Results indicate that barkinite mainly occurs in the middle and lower coal sea4ms, whereas less barkinite and more vitrinite occur in the middle and upper coal seams. Coal facies analysis of bark liptobiolith was performed to determine its characteristics under various depositional conditions, such as the presence of a water table and gelification during coal formation. Results indicate that the environmental evolution of bark liptobiolith begins from brackish-marine swamp facies (barkinite-rich coal seam) and ends in back barrier swamp facies (barkinite-poor coal seam).

The purpose of this paper is to show that the e‐derivative is of great significance when revealing cryptographic characteristics of Boolean functions and assurance of the safety of the cryptographic system.

A new definition is introduced in this paper.

After introducing the e‐derivative, the authors obtain some relevant cryptographic properties and theorems which can fully reveal the relationships between characteristics and structures of Boolean functions. In logic circuit fields, the authors conduct the test to all the signals with numerical value 1 in the transmission line using the e‐derivative, which improves the ability of the test. In addition, when there is no expression of the transmission line the authors will obtain it through the vector, and then do troubleshooting.

Logic circuit is the main limitation in the fault detection.

A very useful method for assurance of the safety of cryptographic systems.

This paper is the first time, in cryptology fields, that the e‐derivative of Boolean functions as a new definition is introduced to fully reveal the relationships between characteristics and structures of Boolean functions. In addition, they can also be applied to the locating test of the breakdown, which improves the ability of the test.

This paper aims to explore pathways and issues of small business technological commercialization in China, probing the particular characteristics of the Chinese context and the ways in which innovation frameworks, institutions and business strategies are embedded.

The authors examine in detail the case of an innovative Chinese indigenous small firm engaged in innovative nanotechnology materials development. The strategies and push- and pull factors underlying the company’s innovation practices were investigated. The proposition that the institutional relationships formed to secure access to research expertise and aid business survival also influence the ways in which technology is commercialized was explored.

It was found that while technological development is company-driven, it is also highly connected to regional innovation structures and networks. This stimulates a “spin-in” rather than a university-led model of development, as this small firm embeds its technology and business development strategies in conjunction with partner organizations. Broader management and policy implications are discussed.

While China has rapidly expanded scientific research in emerging technologies such as nanotechnology, commercialization through the development of entrepreneurial technology-oriented small companies faces a series of challenges. New enterprises in the emerging area of nanotechnology encounter problems of technology transfer and intellectual property management, capital acquisition, market uncertainty and constrained access to global markets.

The purpose of this study is to investigate the influence of three sources of social representation (i.e. direct experience of an event, the media and social interaction) on tourists’ formation of event image; to examine the effect of event image, satisfaction and city image on tourists’ revisit intentions to the host city; and to explore the mediating role of city image.

This study used the 28th Qingdao International Beer Festival (QIBF) as the case for verifying the relationships in the proposed model. The survey was conducted in Qingdao and 366 valid observations were collected. Structural equation modeling was used to validate the research model.

Event image is found to be significantly and positively influenced by direct experience of an event and social interaction. City image and satisfaction are important predictors of revisit intention. The meaning of event image is transferred to city image. City image plays a pivotal role in mediating the effect of event image and satisfaction on revisit intention to the host city.

This study surveyed Chinese tourists attending QIBF in Qingdao and consequently the outcomes may lack generalizability. This research did not survey foreign tourists. Thus, the differences of attitudes and behaviors between Chinese and foreign tourists are not compared.

The outcomes provide insights into how a city manager can organize an event to enhance tourists’ intentions to revisit the city.

This study represents one of the few studies that use both social representation theory and the theory of brand image transfer in examining the influence of external social contexts on tourists’ formation of event image and investigates how the unique meaning of event activities is transferred to city image. In addition, the mediating role of city image is fully explored in this research.

本研究的目的包括（1）探究社会表征的三个来源（事件的直接体验, 媒体影响, 社会互动）对游客事件形象评价的影响；（2）验证事件形象、满意度、城市形象对游客重访举办地意愿的影响；（3）检验城市形象的中介作用。

本研究以第28届青岛国际啤酒节为案例研究对象, 来验证模型中的变量关系。调研在青岛进行, 共收集有效问卷366份。通过结构方程模型来验证研究假设。

事件形象评价受到直接体验和社会互动的显著积极影响。城市形象和满意度是游客重访意愿重要的影响因素, 事件形象的内涵转移到城市形象。城市形象在事件形象和满意度对重访意愿的影响作用中起到重要的中介作用。

本研究对参加青岛国际啤酒节的中国游客进行调研, 结果可能缺少普适性。本研究没有调研外国游客, 缺少中外游客的态度和行为差异的对比。

研究结论对于城市管理者如何更好的组织事件活动以提升游客重访城市的意愿提供了新的思路。

本研究将社会表征理论和品牌形象理论应用到事件营销当中, 解释了游客事件形象评价的形成过程中外部社会情境的影响, 以及事件活动的独特内涵向城市形象转移的过程。同时, 本研究验证了城市形象在事件形象和满意度对重访意愿的影响作用中的中介作用。

事件形象, 城市形象, 满意度, 重访意愿, 社会表征理论

研究论文

(1) explorar el impacto de tres fuentes de representación social (experiencia directa de eventos, influencia de los medios, interacción social) en la evaluación de la imagen del evento de los turistas; (2) Verificar el impacto de la imagen del evento, la satisfacción y la imagen de la ciudad en la voluntad de los turistas para volver a visitar el lugar; (3) verificar el papel mediador de la imagen de la ciudad.

Este estudio toma el 28° Festival Internacional de Cerveza de Qingdao como un objeto de estudio de caso para verificar la relación de las variables en el modelo. La encuesta se realizó en Qingdao y se recolectó un total de 366 cuestionarios válidos. El modelo de ecuación estructural se utiliza para verificar la hipótesis de investigación.

El estudio muestra que la experiencia directa de los eventos y la interacción social tienen un impacto positivo y significativo en la evaluación de la imagen del evento. La imagen de la ciudad y la satisfacción son factores importantes que influyen en la voluntad de los turistas a volver a visitar. Los resultados de la investigación muestran que la imagen de la ciudad desempeña un importante papel de mediación en el efecto de la imagen del evento y la satisfacción en la voluntad de volver a visitar.

este estudio encuestó a los turistas que participaron en el Festival Internacional de Cerveza de Qingdao, y los resultados pueden carecer de generalidad. Este estudio no investigó a los turistas extranjeros, solo a los turistas chinos, por eso careció de una comparación de las diferencias en actitudes y comportamientos entre los turistas chinos y extranjeros.

las conclusiones de la investigación proporcionan nuevas ideas sobre cómo los administradores de la ciudad pueden organizar mejor las actividades del evento para aumentar la voluntad de los turistas a visitar la ciudad nuevamente.

este estudio aplica la teoría de la representación social y la teoría de la imagen de marca al marketing de eventos, explicando el impacto de los contextos sociales externos en la formación de la evaluación de imágenes de eventos turísticos y el proceso de transferir la connotación única de las actividades de eventos a la imagen urbana. Al mismo tiempo, este estudio demuestra que el papel mediador de la imagen de la ciudad tiene un impacto de la imagen del evento y la satisfacción en la voluntad de volver a visitar.

This study aims to explore the patterns and transformational dynamics of the executive–interpreter network in the innovation processes of small- and medium-sized enterprises in hospitality.

Grounded in social network theory and adopting a case-based approach, this study features a multi-case design focusing on three Chinese boutique hotels. Data were collected through Web page and document reviews, participant observations and semistructured interviews.

Results capture how executive–interpreter network dynamics contribute to innovation in small- and medium-sized hotels. Key factors in social networks (e.g. size, scope and strength) shift throughout innovation. This study presents a design-driven approach as a means of innovation. Findings also delineate the network development conditions under which innovation dynamically occurs in boutique hotels.

Practical implications center on how network dynamics help small- and medium-sized hotels innovate more effectively. These insights can assist hotel operators and prospective market entrants in improving their hotels’ performance and competitiveness.

This study blends social network theory with a design-driven approach to explore innovation mechanisms in small- and medium-sized hotels. It offers empirical evidence for practitioners regarding design-driven innovation. Findings enrich the body of knowledge on both design-driven innovation theory and hospitality innovation.

A self-adaptive piston is designed for the compressional gas cushion press nanoimprint lithography system. It avoids the lube pollution and high wear of traditional piston.

The self-adaptive piston device consists of symmetrical piston bodies, piston rings and other parts. The two piston bodies are linked by a ball-screw. The locking nut adjusts the distance between two piston bodies to avoid the piston rings from being stuck. The piston rings are placed between two piston bodies.

The simulation results based on COMSOL indicate that cylinder vibration caused by self-adaptive piston is 15.9 times smaller than the one caused by a traditional piston.

The self-adaptive piston is superior to the traditional piston in decreasing cylinder vibration.

This paper aims to investigate whether family CEOs benefit investment efficiency under uncertainty with Chinese family firms and to test the moderating effect of ownership structure, including family ownership, the separation of family control from family ownership and the multiple large shareholder structure.

Fixed-effects models are designed for a sample of 5,734 firm-year observations for Chinese family firms from 2009 to 2014.

The results show that investment efficiency is low under uncertainty, and having family CEOs can reduce this negative relationship. Further analysis reveals that for firms with family CEOs, the negative effect of uncertainty on investment efficiency is weaker when the family has higher ownership, when family control is less separated from family ownership, or when family firms have multiple large shareholder structures.

The authors do not distinguish founder-CEOs and descendant-CEOs. Most of Chinese family firms are still managed by founders, so the authors cannot explore the generation effect although different generations manage firms differently. Because family succession is becoming a more and more important problem in China, further research may be able to explore the generation effect.

This paper suggests that in emerging economies with weak investor protection, outside minority shareholders can avoid expropriation from family owners by investing in firms with large family ownership, little separation of family control from ownership or multiple large shareholder structure. In addition, policymakers can encourage institutional investors to participate in family business to improve corporate governance.

Drawing on both Type I and Type II agency theory perspectives, the authors argue that although family CEOs can generally benefit firms’ investment efficiency, the benefits vary with firms’ ownership structure. In other words, family CEOs are not absolute agents or stewards but some extent of combination of both.