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The purpose of this paper is to analyze the effect of the reputation of underwriters and sponsoring representatives on initial public offering (IPO) underwriting fees, and further investigates the role of ownership and political connection.

The methodology includes three models. Model 1 empirically investigates the effect of underwriter’s reputation on underwriting fee. Model 2 studies the effect of sponsoring representative’s reputation on underwriting fee. Model 3 further examines the effect of underwriter’s reputation and sponsoring representative reputation on the underwriting fee controlling for the impact of ultimate controlling ownership and political connection.

The study documents that underwriters’ and sponsoring representatives’ reputation can result in reputational premiums. In the IPO of state-owned enterprises (SOEs), the reputation of underwriters and sponsoring representatives does not significantly affect the underwriting fees. In the IPO of non-state-owned enterprises (NSOEs), there is a significantly positive correlation between underwriters’ and sponsoring representatives’ reputation and underwriting fees. Further research results show that, on the one hand, the effect of underwriters’ and sponsoring representatives’ reputation on underwriting fees is not significant in the IPO of NSOEs with political connection. On the other hand, underwriting fees are positively associated with underwriters’ and sponsoring representatives’ reputation in the IPO of NSOEs without political connection.

The sponsoring representative’s fee is not disclosed separately, which makes it difficult to distinguish the incremental effect from underwriter’s services and reputation.

NSOEs relative to SOEs are more likely to pay higher underwriting fees for hiring underwriter and sponsoring representative with better reputation during the process of IPO.

The reputation of underwriter and sponsoring representative does not matter to SOEs but does matter to NSOEs. However, NSOEs’ political connection affects underwriter fees.

This paper provides new evidence of sponsoring representatives’ reputation and political connection on the underwriting fees in the IPO in Chinese SOEs and NSOEs.

This paper reviews the pros and cons of different parametric modeling methods, which can provide a theoretical reference for parametric reconstruction of 3D human body models for virtual fitting.

In this study, we briefly analyze the mainstream datasets of models of the human body used in the area to provide a foundation for parametric methods of such reconstruction. We then analyze and compare parametric methods of reconstruction based on their use of the following forms of input data: point cloud data, image contours, sizes of features and points representing the joints. Finally, we summarize the advantages and problems of each method as well as the current challenges to the use of parametric modeling in virtual fitting and the opportunities provided by it.

Considering the aspects of integrity and accurate of representations of the shape and posture of the body, and the efficiency of the calculation of the requisite parameters, the reconstruction method of human body by integrating orthogonal image contour morphological features, multifeature size constraints and joint point positioning can better represent human body shape, posture and personalized feature size and has higher research value.

This article obtains a research thinking for reconstructing a 3D model for virtual fitting that is based on three kinds of data, which is helpful for establishing personalized and high-precision human body models.

This paper aims to explore the feasibility of rapid prototyping for human hand bones and additional artery with topological preservation.

A serial of slices derived from spiral computed tomography human hand specimen was imported into 3DSlicer 4.4.0 to obtain a three-dimensional virtual model. The model is exported as a standard template library file. Additional arteries were structured according to the atlas and the bone model. Then, a real model was printed based on the virtual model. Measurements were approached in 11 parts of the virtual and real model.

There is no statistical difference between virtual and real model in 11 parts, and the topological characters were preserved.

This method can be used in reconstruction of clinical iconological blood vessel and anatomical education.

This paper shows that it is possible to keep the topological structure of blood vessel not only in painting but also in clinical data.

This study provides evidence that Chinese initial public offerings (IPOs) report better operating performance than industry peers in the pre-IPO period, and worse performance in post-IPO period compared to the pre-IPO level. We find that related party transactions (RPTs) with controlling shareholders have significant effects on the long-run performance of IPO firms. Controlling shareholders structure a large percentage of operating (non-loan) RPTs to artificially boost revenues and/or profits of their IPO subsidiaries in the pre-IPO period. However, in the post-IPO period, controlling shareholders discontinue this RPT-based earnings manipulation practice and begin to expropriate IPO subsidiaries by obtaining a large percentage of cash loans, primarily in return for profits and/or resources transferred into the IPO subsidiaries in the pre-IPO period. Finally, we find that state-controlled IPO firms with a highly concentrated ownership structure and a less independent board of directors are more likely to be expropriated by controlling shareholders in the post-IPO period through related loans.

In today’s Taiwan, sha-cha sauce is an indispensable ingredient for beef hot pot and stir-fried dishes. The purpose of this paper contextualizes the history of sha-cha sauce in Tainan, the oldest city in Taiwan, and argues that sha-cha sauce, introduced by Chaoshan immigrants, has contributed to new styles and habits of beef consumption tastes and habits in the post-1949 Tainan and beyond.

This paper uses documentary materials, oral interviews and diaries to explore the relationship between beef consumption and sha-cha sauce. It begins with an historical overview of Taiwan’s beef consumption during the Japanese colonial era (1895-1945). Then, it focuses on two Chaoshan business enterprises: the Bull-Head, which makes the world’s largest “canned sha-cha sauce,” and the Xiao Haozhou, a Tainan restaurant specializing in sha-cha beef hot pot. Finally, this study analyzes Xinrong Wu, a Tainan gentry whose diary entries from 1933 to 1967 documented the changing dietary habits of beef consumption among Taiwanese.

The Chaoshan migrants played an important role in introducing the sha-cha sauce to postcolonial Tainan, and this input bolstered the beef consumption among Taiwanese. The production of sha-cha provided a reliable source of income for these migrants in Tainan, and major businesses like the Bull-Head became the international brands of Taiwanese food products.

The study, though limited to Tainan, reveals the symbiosis between popularization of sha-cha sauce and widespread beef consumption in Taiwan.

This study helps researchers examine the connection between Chinese migrations and food culture.

This paper is an original scholarly investigation of the relationship between food diet and Chaoshan migration in postcolonial Tainan.

Adopting large eddy simulation (LES) to simulate the complex flow in turbomachinery is appropriate to overcome the limitation of current Reynolds-Averaged Navier–Stokes modelling and it provides a deeper understanding of the complicated transitional and turbulent flow mechanism; however, the large computational cost limits its application in high Reynolds number flow. This study aims to develop a three-dimensional GPU-enabled parallel-unstructured solver to speed up the high-fidelity LES simulation.

Compared to the central processing units (CPUs), graphics processing units (GPUs) can provide higher computational speed. This work aims to develop a three-dimensional GPU-enabled parallel-unstructured solver to speed up the high-fidelity LES simulation. A set of low-dissipation schemes designed for unstructured mesh is implemented with compute unified device architecture programming model. Several key parameters affecting the performance of the GPU code are discussed and further speed-up can be obtained by analysing the underlying finite volume-based numerical scheme.

The results show that an acceleration ratio of approximately 84 (on a single GPU) for double precision algorithm can be achieved with this unstructured GPU code. The transitional flow inside a compressor is simulated and the computational efficiency has been improved greatly. The transition process is discussed and the role of K-H instability playing in the transition mechanism is verified.

The speed-up gained from GPU-enabled solver reaches 84 compared to original code running on CPU and the vast speed-up enables the fast-turnaround high-fidelity LES simulation.

The GPU-enabled flow solver is implemented and optimized according to the feature of finite volume scheme. The solving time is reduced remarkably and the detail structures including vortices are captured.

Cooperation in agriculture and agricultural products trade is a new driving force for Sino-Russian cooperation in economy and trade in recent years. Driven by the interests and needs of both countries, a Free Trade Zone (FTZ) on the Chinese territory facing Russia, the Heilongjiang FTZ, has been established, and agricultural cooperation has attracted much attention within the FTZ framework. This chapter aims to analyze and explain the prospects of Sino-Russian agricultural cooperation under the framework of the Heilongjiang FTZ based on the current situations of cooperation. The author concludes that the Heihe and Suifenhe Areas in Heilongjiang FTZ are developed with a focus on Sino-Russian agricultural cooperation. This chapter is innovative because it combined the traditional research perspective on Sino-Russian agricultural cooperation with that under the FTZ framework. The author thinks that to facilitate the cooperation between the two countries in agriculture under the FTZ, the two governments must cooperate more extensively. Besides, they need to discuss the establishment of infrastructures like a joint agricultural product R&D centre and a digital development centre for agriculture. Meanwhile, the schemes of dispute settlement and risk-sharing should be addressed as well.

China's defense industry is analyzed by comparing the technical level of the military and civilian products manufactured by China's nuclear, space, aviation, shipbuilding, ordnance, and electronics industries with their advanced counterparts. Generally, China's defense industry is about 20 years behind the global leaders. Thus, it is inappropriate to declare China's emergence as the world’s second military power. However, if it continues on its current development trajectory, it will attain that status in the near future.

The paper offers a viewpoint on the relevance of the underpinnings of the social exchange theory (SET) in understanding inter‐firm relationships, specifically with respect to outsourcing relationships in a Southeast Asian context.

The viewpoint is based on literature review on outsourcing trends, characteristics and underlying theories including the underpinnings of SET in combination with anecdotal accounts from practitioners in the electrical and electronics (E&E) sector as well as personal emic observations of management styles embedded within the socio‐cultural context of a developing country.

Management and outsourcing of contracts in a Southeast Asian context are usually done on a personal level with some leeway provided by top management. The reverse is true for developed countries where all processes and contracts need to be seen as just and transparent to stakeholders. Dominant theories identified with outsourcing generations seem to be embedded in management culture of developed countries which are largely influenced by the transaction cost economics theory and its extensions, the resource‐based view and the resource‐dependence view. By placing a caveat on generalizability, the paper opines that SET is still relevant in the Southeast Asian context.

As outsourcing characteristics have changed and evolved over the years, relationship models need to be reviewed and redefined to be in congruence with the changes that are occurring. The Southeast Asian socio‐cultural context can be a reference point for conceptualization of relationship models to understand E&E outsourcing relationships along global supply chains.