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Article
Publication date: 28 October 2013

Zheng Hong and YiHai Zhou

Faced with the financing problem of small-medium enterprises (SMEs), China has attempted to establish as many as third party's collateral institutions. The paper aims to…

Abstract

Purpose

Faced with the financing problem of small-medium enterprises (SMEs), China has attempted to establish as many as third party's collateral institutions. The paper aims to study the design of collateral arrangements including collateral fee rates, risk sharing, collateral capital requirements, types of collateral institutions and recollateral institution, etc.

Design/methodology/approach

The paper extends the model of Holmstrom and Tirole to develop the analytic framework of the theory of financing collateral. From the perspective of contract design, the paper establishes a moral hazard model focusing on the minimum capital requirement of the borrower under the condition of risk neutral and limited liability, while considering the structure of lender-collateral institution-borrower.

Findings

According to the research, only under certain conditions can third party's collateral arrangements tackle the financing problems of SMEs. Diversification, anti-collateral and linked-transactions are three means to improve financing conditions, but the most important way is efficient monitoring by collateral institutions, especially when it has relative advantage over the lender. In order to improve financing conditions of SMEs, China should rely more on efficient monitoring by banks not on excess development of collateral institutions, meanwhile relax rigid collateral supervision policies. Collateral institutions should be industry-specific, association or transaction-related type.

Originality/value

First, from the perspective of contract design, the paper analyzes the comprehensive institutional arrangements of third party's collateral considering mutual relationships of component elements and develops the analytic framework of the theory of third party's collateral, especially points out necessary conditions of its efficient arrangements. Second, the paper studies various efficient financing mechanisms under the institutional arrangements of third party's collateral and focusing on the role of monitoring and monitors, and the paper also has important policy implications, i.e. the paper should develop specific collateral institutions and promote monitoring role of credit institutions.

Details

China Finance Review International, vol. 3 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

Open Access
Article
Publication date: 12 July 2022

Zheng Xu, Yihai Fang, Nan Zheng and Hai L. Vu

With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.

Abstract

Purpose

With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.

Design/methodology/approach

The simulation environment is established by integrating virtual reality interface with a micro-simulation model. In the simulation, the vehicle autonomy is developed by a framework that integrates artificial neural networks and genetic algorithms. Human-subject experiments are carried, and participants are asked to virtually sit in the developed autonomous vehicle (AV) that allows for both human driving and autopilot functions within a mixed traffic environment.

Findings

Not surprisingly, the inconsistency is identified between two driving modes, in which the AV’s driving maneuver causes the cognitive bias and makes participants feel unsafe. Even though only a shallow portion of the cases that the AV ended up with an accident during the testing stage, participants still frequently intervened during the AV operation. On a similar note, even though the statistical results reflect that the AV drives under perceived high-risk conditions, rarely an actual crash can happen. This suggests that the classic safety surrogate measurement, e.g. time-to-collision, may require adjustment for the mixed traffic flow.

Research limitations/implications

Understanding the behavior of AVs and the behavioral difference between AVs and human drivers are important, where the developed platform is only the first effort to identify the critical scenarios where the AVs might fail to react.

Practical implications

This paper attempts to fill the existing research gap in preparing close-to-reality tools for AV experience and further understanding human behavior during high-level autonomous driving.

Social implications

This work aims to systematically analyze the inconsistency in driving patterns between manual and autopilot modes in various driving scenarios (i.e. multiple scenes and various traffic conditions) to facilitate user acceptance of AV technology.

Originality/value

A close-to-reality tool for AV experience and AV-related behavioral study. A systematic analysis in relation to the inconsistency in driving patterns between manual and autonomous driving. A foundation for identifying the critical scenarios where the AVs might fail to react.

Details

Journal of Intelligent and Connected Vehicles, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-9802

Keywords

Article
Publication date: 7 November 2016

Nan Xie, Yihai He, Ming Yao and Changwei Jiang

The purpose of this paper is to apply the lattice Boltzmann method (LBM) with multiple distribution functions model, to simulate transient natural convection of air in a…

Abstract

Purpose

The purpose of this paper is to apply the lattice Boltzmann method (LBM) with multiple distribution functions model, to simulate transient natural convection of air in a two-dimensional square cavity in the presence of a magnetic quadrupole field, under non-gravitational as well as gravitational conditions.

Design/methodology/approach

The density-temperature double distribution functions and D2Q9 model of LBM for the momentum and temperature equations are currently employed. Detailed transient structures of the flow and isotherms at unsteady state are obtained and compared for a range of magnetic force numbers from 1 to 100. Characteristics of the natural convection at initial moment, quasi-steady state and steady state are presented in present work.

Findings

At initial time, effects of the magnetic field and gravity are both relatively limited, but the effects become efficient as time evolves. Bi-cellular flow structures are obtained under non-gravitational condition, while the flow presents a single vortex structure at first under gravitational condition, and then emerges a bi-cellular structure with the increase of magnetic field force number. The average Nusselt number generally increases with the augment of magnetic field intensity.

Practical implications

This paper will be useful in the researches on crystal material and protein growth, oxygen concentration sensor, enhancement or suppression of the heat transfer in micro-electronics and micro-processing technology, etc.

Originality/value

The current study extended the application of LBM on the transient natural convective problem of paramagnetic fluids in the presence of an inhomogeneous magnetic field.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 26 no. 8
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 28 October 2020

Fernanda Rodrigues, Flávio Antunes and Raquel Matos

The use of building information modelling (BIM) methodology has been increasing in the architecture, engineering, construction and operation sector, driven to a new…

Abstract

Purpose

The use of building information modelling (BIM) methodology has been increasing in the architecture, engineering, construction and operation sector, driven to a new paradigm of work with the use of three-dimensional (3D) parametric models. However, building information modelling (BIM) has been mostly used for as-built models of a building, not yet been widely used by designers during project and construction phases for occupational risks prevention and safety planning. This paper aims to show the capacity of developing tools that allow adding functionalities to Revit software to improve safety procedures and reduce the time spent on modelling them during the design phase.

Design/methodology/approach

To reach this objective, a structural 3D model of a building is used to validate the developed tools. A plugin prototype based on legal regulations was developed, allowing qualitative safety assessment through the application of job hazard analysis (JHA), SafeObject and checklists. These tools allow the automated detection of falls from height situations and the automated placement of the correspondent safety systems.

Findings

Revit application programming interface allowed the conception and addition of several functionalities that can be used in BIM methodology, and more specifically in the prevention of occupational risks in construction, contributing this paper to the application of a new approach to the prevention through design.

Originality/value

This paper is innovative and important because the developed plugins allowed: automated detection of potential falls from heights in the design stage; automated introduction of safety objects from a BIM Safety Objects Library; and the intercommunication between a BIM model and a safety database, bringing JHA integration directly on the project. The prototype of this work was validated for fall from height hazards but can be extended to other potentials hazards since the initial design stage.

Article
Publication date: 14 November 2019

Jiawu Dai and Xun Li

The purpose of this paper is to estimate oligopsony power in the upstream factor market and oligopoly power in the downstream product market. On this basis, the paper…

Abstract

Purpose

The purpose of this paper is to estimate oligopsony power in the upstream factor market and oligopoly power in the downstream product market. On this basis, the paper intends to examine the effects of both oligopsony and oligopoly power as well as ownership on technical efficiency which were rarely discussed in previous studies.

Design/methodology/approach

First, based on the stochastic frontier production function, the paper constructs a new model that is capable to estimate oligopsony power for each observation. Second, the paper employs the popular dual stochastic frontier cost function to estimate marginal cost as well as oligopoly power. Then, the system GMM method with different sets of instrumental variables is applied to test the effects of the two-sided market power and ownership on technical efficiency.

Findings

Using unbalanced panel data at the firm level, the paper demonstrates that oligopsony power is significantly variant across different sectors. The most notable point is that oligopsony power in China’s soya and peanut oil industries is negative, while that in pork and beef industries is much stronger than those in other industries. In addition, state-owned enterprises (SOEs) are found to be less technically efficient in most of the selected industries, while SOEs with higher oligopsony power tend to be more technically efficient than non-state-owned enterprises(NSOEs), which is consistent with the quiet life hypothesis.

Originality/value

This paper sheds light mainly on three aspects. First, it proposes a new model to estimate oligopsony power for each single firm. Second, it tests the effect of oligopsony power on technical efficiency. Third, it distinguishes the differential effect of oligopsony power on technical efficiency between SOEs and NSOEs.

Details

China Agricultural Economic Review, vol. 12 no. 2
Type: Research Article
ISSN: 1756-137X

Keywords

Article
Publication date: 9 August 2022

Salman Zulfiqar, Zoia Khan and Chunhui Huo

The study aims to explore ‘motivational climate', which designs the recurring patterns associated with employees' attitudes, behaviour, and feelings. If organizations…

Abstract

Purpose

The study aims to explore ‘motivational climate', which designs the recurring patterns associated with employees' attitudes, behaviour, and feelings. If organizations successfully adopt a motivational climate, such climate influences the performance and behavior of employees to a great extent. Responsible leadership plays a constructive role in injecting a motivational climate in an organization to ensure information flow. In a motivational climate, top management or leaders reward their employees for individual progress, improvement and mastery. Knowledge sharing is supported in a mastery climate because such a climate can reduce the motive of knowledge hiding and instead further help in stimulating creativity.

Design/methodology/approach

Study was to scrutinize a moderated-mediation model, a quantitative hypothetic deductive approach to verify the hypotheses of the study. The data were gathered from employees and supervisors of advertising agencies and marketing departments in metropolitan cities of Punjab, Pakistan. Such firms and departments are considered because they offer a great opportunity to relevant variables and their relations. These organizations and departments are the most creativity-seeking domains and involve frequent interactions (for instance, regular meetings) between leaders with their employees and among peers. Data were primarily gathered from managerial employees performing their duties in the areas mentioned above.

Findings

Current study reveals that RL has a positive and significant relation with employee creative behaviour. Increasing RL characteristics can ultimately boost employee performance in the creativity domain. Being a responsible leader becomes mandatory for leaders to foster employee creativity to maintain the sustainability of an organization. It is confirmed from the results that responsible leadership articulates the mind thinking of employees, which creates an open environment of information while persuading creative and similar behaviour.

Originality/value

The current research investigates how responsible leadership can efficiently leverage the stakeholder approach in influencing employees through a knowledge-based pathway to boost their creative behaviour. The current study tends to uncover the mediating effect of the basic construct of knowledge management, which is knowledge sharing. Knowledge sharing enables employees to exchange their information while creating mutual understanding, which helps in the smooth flow of knowledge within the organization; this flow enriches employees to think openly in a creative and appreciative environment.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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