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Partial alignment for 3 D point sets is a challenging problem for laser calibration and robot calibration due to the unbalance of data sets, especially when the overlap of data sets is low. Geometric features can promote the accuracy of alignment. However, the corresponding feature extraction methods are time consuming. The purpose of this paper is to find a framework for partial alignment by an adaptive trimmed strategy.

First, the authors propose an adaptive trimmed strategy based on point feature histograms (PFH) coding. Second, they obtain an initial transformation based on this partition, which improves the accuracy of the normal direction weighted trimmed iterative closest point (ICP) method. Third, they conduct a series of GPU parallel implementations for time efficiency.

The initial partition based on PFH feature improves the accuracy of the partial registration significantly. Moreover, the parallel GPU algorithms accelerate the alignment process.

This study is applicable to rigid transformation so far. It could be extended to non-rigid transformation.

In practice, point set alignment for calibration is a technique widely used in the fields of aircraft assembly, industry examination, simultaneous localization and mapping and surgery navigation.

Point set calibration is a building block in the field of intelligent manufacturing.

The contributions are as follows: first, the authors introduce a novel coarse alignment as an initial calibration by PFH descriptor similarity, which can be viewed as a coarse trimmed process by partitioning the data to the almost overlap part and the rest part; second, they reduce the computation time by GPU parallel coding during the acquisition of feature descriptor; finally, they use the weighted trimmed ICP method to refine the transformation.

Using a sample of manufacturing firms listed in China between 2007 and 2019, first, this paper aims to examine whether peer firms influence corporate trade credit supply. Next, the authors examine the channels through which peer firms influence corporate trade credit supply by testing the predictions of rivalry and information theories. Furthermore, the authors examine the heterogeneity of the industry peer effect on corporate trade credit supply. Finally, the authors examine the economic consequences of the industry peer effect on corporate trade credit supply.

The sample includes all manufacturing firms listed on both the Shanghai and Shenzhen securities exchanges for the sample period from 2007 to 2019, and the data come from the China Stock Market & Accounting Research database. The authors use the fixed effects method to examine the industry peer effect on trade credit supply. The results are robust to a series of robustness tests. To address the potential endogeneity problem, the authors adopt appropriate instruments by estimating instrumental variable models (two-stage least square). The authors use Heckman’s two-stage model to mitigate the sample selection bias.

The authors provide strong empirical evidence showing that the industry peer effect on trade credit supply exists in the manufacturing sector. It is also found that both competitive rivalry-based and information-based theories can provide explanations of the industry peer effect on trade credit supply. This process is both active imitation and passive reaction. Additional analysis suggests that the industry peer effect on trade credit supply is more pronounced for state-owned firms, firms with low customer concentration and firms with high geographical proximity. The amplification effect and spillover effect are the economic consequences of the industry peer effect on trade credit supply. In other words, the trade credit supply based on peer effect will not only increase the liquidity risk of the firm per se but also induce and increase the liquidity risk of the industry.

The study makes some important contributions. First, the authors find robust evidence that peer firms’ trade credit supply is an important factor in explaining corporate trade credit supply, which extends the literature by connecting the firm’s trade credit supply with the peer effect. Second, the study provides a new micro-perspective for understanding that firms use trade credit supply as a tool of competition, which proves the importance of rivals’ decision-making as a determinant of corporate decisions. Third, the authors examine the industry peer effect on trade credit supply, which not only helps to guide firms to pay more attention to the potential risk and spillover effects of the trade credit supply decision-making relevance but also helps to clarify the industry interaction phenomenon of corporate decision-making behavior. It is an important practical significance to play a role as a bridge between the microlevel of the firm and the meso-level of the industry. Finally, the study provides inspiration for the formulation of industry norms and policies.