查看更多>>摘要：Many countries and governments consider smart cities a solution to global warming,population growth,and resource depletion.Numerous challenges arise while creating a smart city.Digital twins,along with the Internet of Things,fifth-generation wireless sys-tems,blockchain,collaborative computing,simulation,and artificial intelligence technol-ogies,offer great potential in the transformation of the current urban governance paradigm toward smart cities.In this paper,the concept of a digital twin city (DTC) is proposed.The characteristics,key technologies,and application scenarios of a DTC are elaborated upon.Further,we discuss the theories,research directions,and framework regarding DTCs.
查看更多>>摘要：Gold has multiple attributes and its price is affected by various factors in the market.This paper studies the dynamic relationship between the gold price returns and its affecting factors.Then we use the STL-ETS,neural network and Bayesian structural time series model to predict the gold price returns,and compare their performance with the benchmark models.The results show that the shocks of crude oil returns and VIX have the positive effect on gold price returns,the shocks of the US dollar index have the negative effect on gold price returns.And the fluctuation of gold price returns mainly depends on crude oil price returns shocks.STL-ETS model can accurately fit the fluctuation trend of the gold price returns and improve prediction accuracy.
查看更多>>摘要：This paper investigates the cross-section of expected commodity futures returns in China using a large panel of 13 individual factors.We find that 6 out of 13 individual factors produce positive and significant returns.To aggregate the information among these fac-tors,we apply not only the traditional Fama-MacBeth regression (FM),but also a set of alternative methods,including the forecast combination method (FC),principal compo-nent analysis (PCA),principle component regression (PCR) and partial least squares (PLS).It turns out that PLS outperform other methods in forecasting the cross-section of Chinese expected futures returns.The equally weighted combination of 5 methods produces an even higher annualized return and lower standard deviation compared to each single method.The investigation of factor importance reveals that the skewness (SKEW) factor is more important than other factors in predicting expected futures returns in Chinese markets.
查看更多>>摘要：Market demand is becoming increasingly time-sensitive in competitive environments.Hence,supply disruptions will have a more serious impact on the profits of supply chains.This study applies a Stackelberg competition between a single supplier and a single manufacturer in a time-sensitive supply chain in a cloud manufacturing environment.We aim to address the supplier's production capacity recovery issues and the manufacturer's incentive decision issues after supply disruption.We find that the supplier is in a weak position when the information is symmetrical.The manufacturer can encourage the supplier to shorten the recovery time by raising the unit wholesale price.When the supplier's unit production cost remains unchanged but the unit wholesale price increases,the profit of the supplier first increases and then decreases.In addition,under the centralized decision-making setting,the optimal recovery time of the supplier is shorter and the optimal unit market price of the product is lower than that under decentralized decision-making.We further find that resource sharing can shorten the optimal recovery time,but it does not necessarily play an incentivizing role.
查看更多>>摘要：With changing customer attitudes toward consumption and function homogenization,product appearance designs have an increasing influence on the purchase decision.Customer characteristics and emotional factors play an important role here.This study proposes a novel approach for modelling satisfaction and accomplishing a configuration that overcomes the limitations of conventional methods to precisely predict satisfaction,provide optimal product recommendations,and advise manufacturers on product appearance design.The newly proposed approach considers satisfaction,clusters cus-tomers through the Kansei perspective,and constructs a satisfaction model for each cluster.Additionally,the study employs data mining to understand the basic design principles and conflicted combinations that must be followed and avoided,respectively.The bidirectional association rules-constrained genetic algorithm is presented to limit configuration freedom,ensuring that results are in the range of control.Comparing pre-diction errors and recommended sample votes between the novel and conventional ap-proaches revealed the presented approach's efficiency and accuracy,thereby providing suggestions for manufacturers to make precise decisions on launching new product appearance designs through predicting customer emotional satisfaction.
查看更多>>摘要：Because prior studies find mixed results on the relation between CEOs' pay performance incentives and a firm's likelihood of financial reporting fraud,we restudy their relationship using innovative research methods.First,we concentrate on incentives from granting options rather than equity-based incentives.Second,we emphasize vested options,dis-regarding unvested option holdings,and take the logarithm transformation of option in-centives.Third,we analyse the impact of option incentives on future financial reporting irregularities.Using this innovative approach as well as a full sample and a matched sample,we find that an increase in executives' option incentives raises the likelihood of financial reporting violations.Moreover,the effect of option incentives on financial reporting fraud is moderated by auditor effort.In addition,we find that another proxy for the measurement of executives' option incentives,namely,the number of vested options by executives,is highly correlated with the CEO's vested stock option sensitivity.
查看更多>>摘要：Existing studies have mainly focused on pricing in either primary markets or aftermarkets.However,in practice,prices in primary markets and aftermarkets are closely correlated.This study examines the joint pricing strategy in both primary markets and aftermarkets based on customer utility and establishes a pricing model for profit-maximization firms.Our results show that overpricing in the aftermarket is caused by customer myopia,while the motivation of the firm to avoid customer myopia depends on its pricing strategy.A quantity-price contract in the aftermarket is designed to raise the firm's profit.
查看更多>>摘要：We investigate the effect of portfolio diversification on banking systemic risk,where the network effect is incorporated.We analyze three kinds of interbank networks,namely,random networks,small-world networks and scale-free networks.We show that the effect of portfolio diversification on banking systemic risk depends on interbank network structures and shock types.First,systemic risk increases first and then reduces with the increase of the level of portfolio diversification in the case of the individual shock.Second,in the case of the systemic shock,systemic risk reduces with the increases of the level of portfolio diversification.Third,banking systems with scale-free network structures are the most stable,and those with small-world network structures are the most vulnerable.
NETL
NSTL
万方数据
维普