Abstract
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Abstract
Details
Keywords
Boyao Song, Bingxin Liu and Chao He
The main objectives of collective forest tenure reform in China are to stimulate rural households to invest in forestry management, protect the ecosystem and improve their…
Abstract
Purpose
The main objectives of collective forest tenure reform in China are to stimulate rural households to invest in forestry management, protect the ecosystem and improve their livelihood. By constructing the unbalanced panel data of household investment, this study discusses the dynamic changes and influencing factors of household investment, which will lay a foundation for further research and provide a reference for decision-making.
Design/methodology/approach
Based on 3,500 samples from rural households in the provinces of Fujian, Hunan, Yunnan, Shaanxi, Jiangxi, Gansu, and Liaoning collected during field investigations from 2010 to 2015, this study conducts an empirical analysis of the household investment in forestry management and its factors with nonbalanced panels.
Findings
According to the analysis, the average investment in forestry management per household from 2010 to 2015 fluctuates greatly; the age of the householder, increased forestry area, subsidies, joining professional cooperatives, and forest tenure mortgage show positive effects on achieving the objectives.
Originality/value
The discussions are drawn from the study that supporting policies such as the forest tenure transfer system, professional cooperatives, financial services and subsidies should be further improved to sustain a positive in the forestry industry.
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Xinyi Huang, Fei Teng, Yu Xin and Liping Xu
This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in…
Abstract
Purpose
This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in China can mitigate price distortions caused by the implicit government guarantees and promote the development of the high-risk bond market.
Design/methodology/approach
This paper exploits the staggered introduction of bankruptcy courts across cities to implement a differences-in-differences strategy on bond issuance data. Using bonds issued in China between 2018 and 2020, the impact of bankruptcy courts on the bond issuance market can be analyzed.
Findings
This paper reveals that bond issuance credit spreads increase and is more sensitive to firm size, profitability and downside risk of issuance entity after the introduction of bankruptcy courts. It also reveals a substantive increase in bond issuance quantity and a decrease in issuer credit ratings following the establishment of bankruptcy courts. In addition, the increase of credit spreads is more prominent for publicly traded bonds, those whose issuers located in provinces with lower judicial confidence, bonds issued by SOEs and bonds with stronger government guarantees. Finally, the role of bankruptcy courts is more pronounced in regions with higher marketization.
Originality/value
This paper relates to previous studies that investigate the impact of laws and institutions on external financing. It helps provide new evidence to this literature on how improvements of efficiency and quality in bankruptcy enforcements relate to the marketization of bond issuance. The results provide further evidence on legal institutions and bond financing.
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Xiaoyu Chen, Yonggang Leng, Fei Sun, Xukun Su, Shuailing Sun and Junjie Xu
The existing Nonlinear Dynamic Vibration Absorbers (NLDVAs) have the disadvantages of complex structure, high cost, high installation space requirements and difficulty in…
Abstract
Purpose
The existing Nonlinear Dynamic Vibration Absorbers (NLDVAs) have the disadvantages of complex structure, high cost, high installation space requirements and difficulty in miniaturization. And most of the NLDVAs have not been applied to reality. To address the above issues, a novel Triple-magnet Magnetic Dynamic Vibration Absorber (TMDVA) with tunable stiffness, only composed of triple cylindrical permanent magnets and an acrylic tube, is designed, modeled and tested in this paper.
Design/methodology/approach
(1) A novel TMDVA is designed. (2) Theoretical and experimental methods. (3) Equivalent dynamics model.
Findings
It is found that adjusting the magnet distance can effectively optimize the vibration reduction effect of the TMDVA under different resonance conditions. When the resonance frequency of the cantilever changes, the magnet distance of the TMDVA with a high vibration reduction effect shows an approximately linear relationship with the resonance frequency of the cantilever which is convenient for the design optimization of the TMDVA.
Originality/value
Both the simulation and experimental results prove that the TMDVA can effectively reduce the vibration of the cantilever even if the resonance frequency of the cantilever changes, which shows the strong robustness of the TMDVA. Given all that, the TMDVA has potential application value in the passive vibration reduction of engineering structures.
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Yan Wang, Shibin Wei, Fei Yang, Jiyou Fei and Jianfeng Guo
This study aims to analyze the development direction of track geometry inspection equipment for high-speed comprehensive inspection train in China.
Abstract
Purpose
This study aims to analyze the development direction of track geometry inspection equipment for high-speed comprehensive inspection train in China.
Design/methodology/approach
The development of track geometry inspection equipment for high-speed comprehensive inspection train in China in the past 20 years can be divided into 3 stages. Track geometry inspection equipment 1.0 is the stage of analog signal. At the stage 1.0, the first priority is to meet the China's railways basic needs of pre-operation joint debugging, safety assessment and daily dynamic inspection, maintenance and repair after operation. Track geometry inspection equipment 2.0 is the stage of digital signal. At the stage 2.0, it is important to improve stability and reliability of track geometry inspection equipment by upgrading the hardware sensors and improving software architecture. Track geometry inspection equipment 3.0 is the stage of lightweight. At the stage 3.0, miniaturization, low power consumption, self-running and green economy are co-developing on demand.
Findings
The ability of track geometry inspection equipment for high-speed comprehensive inspection train will be expanded. The dynamic inspection of track stiffness changes will be studied under loaded and unloaded conditions in response to the track local settlement, track plate detachment and cushion plate failure. The dynamic measurement method of rail surface slope and vertical curve radius will be proposed, to reveal the changes in railway profile parameters of high-speed railways and the relationship between railway profile, track irregularity and subsidence of subgrade and bridges. The 200 m cut-off wavelength of track regularity will be researched to adapt to the operating speed of 400 km/h.
Originality/value
The research can provide new connotations and requirements of track geometry inspection equipment for high-speed comprehensive inspection train in the new railway stage.
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Qiang Yang, Jiale Huo, Hongxiu Li, Yue Xi and Yong Liu
This study investigates how social interaction-oriented content in broadcasters' live speech affects broadcast viewers' purchasing and gift-giving behaviors and how broadcaster…
Abstract
Purpose
This study investigates how social interaction-oriented content in broadcasters' live speech affects broadcast viewers' purchasing and gift-giving behaviors and how broadcaster popularity moderates social interaction-oriented content's effect on the two different behaviors in live-streaming commerce.
Design/methodology/approach
A research model was proposed and empirically tested using a panel data set collected from 537 live streams via Douyin (the Chinese version of TikTok), one of the most popular live broadcast platforms in China. A fixed-effects negative binomial regression model was used to examine the proposed research model.
Findings
This study's results show that social interaction-oriented content in broadcasters' live speech has an inverted U-shaped relationship with broadcast viewers' purchasing behavior and shares a positive linear relationship with viewers' gift-giving behavior. Furthermore, broadcaster popularity significantly moderates the effect of social interaction-oriented content on viewers' purchasing and gift-giving behaviors.
Originality/value
This research enriches the literature on live-streaming commerce by investigating how social interaction-oriented content in broadcasters' live speech affects broadcast viewers' product-purchasing and gift-giving behaviors from the perspective of broadcast viewers' attention. Moreover, this study provides some practical guidelines for developing live speech content in the live-streaming commerce context.
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Jianli Cong, Hang Zhang, Zilong Wei, Fei Yang, Zaitian Ke, Tao Lu, Rong Chen, Ping Wang and Zili Li
This study aimed to facilitate a rapid evaluation of track service status and vehicle ride comfort based on car body acceleration. Consequently, a low-cost, data-driven approach…
Abstract
Purpose
This study aimed to facilitate a rapid evaluation of track service status and vehicle ride comfort based on car body acceleration. Consequently, a low-cost, data-driven approach was proposed for analyzing speed-related acceleration limits in metro systems.
Design/methodology/approach
A portable sensing terminal was developed to realize easy and efficient detection of car body acceleration. Further, field measurements were performed on a 51.95-km metro line. Data from 272 metro sections were tested as a case study, and a quantile regression method was proposed to fit the control limits of the car body acceleration at different speeds using the measured data.
Findings
First, the frequency statistics of the measured data in the speed-acceleration dimension indicated that the car body acceleration was primarily concentrated within the constant speed stage, particularly at speeds of 15.4, 18.3, and 20.9 m/s. Second, resampling was performed according to the probability density distribution of car body acceleration for different speed domains to achieve data balance. Finally, combined with the traditional linear relationship between speed and acceleration, the statistical relationships between the speed and car body acceleration under different quantiles were determined. We concluded the lateral/vertical quantiles of 0.8989/0.9895, 0.9942/0.997, and 0.9998/0.993 as being excellent, good, and qualified control limits, respectively, for the lateral and vertical acceleration of the car body. In addition, regression lines for the speed-related acceleration limits at other quantiles (0.5, 0.75, 2s, and 3s) were obtained.
Originality/value
The proposed method is expected to serve as a reference for further studies on speed-related acceleration limits in rail transit systems.