Yilin Zhang, Changyuan Gao and Jing Wang
This study aims to explore the relationship between financing constraints and the innovation performance of Internet enterprises in the cross-border innovation cooperation…
Abstract
Purpose
This study aims to explore the relationship between financing constraints and the innovation performance of Internet enterprises in the cross-border innovation cooperation network. The study also analyzes the moderating effect of the location of the cross-border innovation cooperation network.
Design/methodology/approach
The authors selected patent data, related transaction data and other data of A-share listed companies on Shanghai and Shenzhen stock exchanges from 2014 to 2019. The generalized moment estimation method of instrumental variables (IV-GMM) method was used to analyze the relationship between financing constraints and the innovation performance of Internet firms and the moderating effect of the cross-border innovation cooperation network location. The threshold value of the moderating effect of the network structure hole was calculated with the threshold model.
Findings
The empirical results show a significant inverted U-shaped relationship between financing constraints and the innovation performance in the cross-border innovation cooperation network of Internet enterprises. Network centrality positively moderates this relationship. There is a threshold for the adjustment effect of network-structural holes, and the adjustment intensity of structural holes changes before and after the threshold.
Originality/value
This study provides a new perspective for Internet firms in innovation cooperation networks to alleviate the negative impact of financing constraints on innovation performance. The inverted U-shaped relationship between financing constraints and the innovation performance of Internet enterprises is in two stages. The moderating range of network centrality and the structural hole besides the threshold of the moderating effect of a structural hole are detailed.
Details
Keywords
ShengYi Du, DongHong Tan and Zitong Chen
This study aims to propose a comprehensive optimization and scheduling method for the combined heat and power (CHP) systems that takes into account the uncertainties of wind power…
Abstract
Purpose
This study aims to propose a comprehensive optimization and scheduling method for the combined heat and power (CHP) systems that takes into account the uncertainties of wind power and demand response.
Design/methodology/approach
The uncertainty of wind power and the “thermal-electric coupling” characteristics of CHP units have led to an increasing issue of wind power curtailment in CHP systems. With the objective of minimizing the overall scheduling cost of the CHP system, this paper considers the characteristics of interactive loads and wind power uncertainty, and establishes a coordinated optimization scheduling model for the generation-load-storage of the system, based on the inclusion of thermal energy storage devices.
Findings
During the optimization scheduling process, the proposed method in this paper reduces the scheduling cost by ¥99,900 (approximately 36.3%) compared to traditional methods, and significantly decreases the wind power curtailment rate by 53.7%. These results clearly demonstrate the significant advantages of the proposed method in enhancing the economic efficiency of the system and improving wind power integration.
Research limitations/implications
However, the planning process did not take into account the impact of unit combinations and grid structures.
Practical implications
This study proposes a comprehensive optimization and scheduling method for the CHP systems that takes into account the uncertainties of wind power and demand response. The objective function is to minimize the wind curtailment rate’s total scheduling cost, considering the impact of wind power uncertainties and demand response. A coordinated optimization and scheduling model for the generation-load-storage of CHP system is established.
Social implications
CHP units achieve the coupling of electric and thermal energy, significantly improving energy efficiency. In this study, the planning of the CHP system considers the coupling relationships among multiple energy sources, various devices and the pricing optimization spaces of electric and thermal forms of generation, storage and load-side. This approach has achieved favorable results in terms of economic operation scheduling and wind power accommodation improvement.
Originality/value
The case method is used to handle the uncertainty of wind power output on the generation side. Demand response is integrated on the load side to adjust user load curves. On the storage side, the thermal-electric coupling constraints of the CHP units are decoupled using thermal energy storage devices, while considering the economic benefits of all three parties involved: the power source, the load and the energy storage.