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As a powerful mathematical analysis tool, the local fractional calculus has attracted wide attention in the field of fractal circuits. The purpose of this paper is to derive a new ℑ-order non-differentiable (ND) R-C zero state-response circuit (ZSRC) by using the local fractional derivative on the Cantor set for the first time.

A new ℑ-order ND R-C ZSRC within the local fractional derivative on the Cantor set is derived for the first time in this work. By defining the ND lumped elements via the local fractional derivative, the ℑ-order Kirchhoff voltage laws equation is established, and the corresponding solutions in the form of the Mittag-Leffler decay defined on the Cantor sets are derived by applying the local fractional Laplace transform and inverse local fractional Laplace transform.

The characteristics of the ℑ-order R-C ZSRC on the Cantor sets are analyzed and presented through the 2-D curves. It is found that the ℑ-order R-C ZSRC becomes the classic one when ℑ = 1. The comparative results between the ℑ-order R-C ZSRC and the classic one show that the proposed method is correct and effective and is expected to shed light on the theory study of the fractal electrical systems.

To the best of the authors’ knowledge, this paper, for the first time ever, proposes the ℑ-order ND R-C ZSRC within the local fractional derivative on the Cantor sets. The results of this paper are expected to give some new enlightenment to the development of the fractal circuits.

The purpose of this paper is to analyse the development strategies of two Chinese global players in the high‐tech sectors.

The paper adopts a case‐study approach on Huawei Technology Co. Ltd (Huawei) and Jing‐Hua Optical and Electronics Co. Ltd (JOC).

While Huawei's first strategic decision was that of becoming a leader on the domestic market, the key choice for JOC was that of acquiring a European firm. However common features emerge: persistent investment in R&D, strategic collaboration with universities and presence of government supporting policies, even though the case studies suggest the existence of thresholds for firms to access the benefits of government policy.

The results pave the way for more general discussions on the emergence of champions of excellence in China. They reinforce the idea that Chinese industrial development is built on non‐conventional catching‐up processes at the country, local and firm level. They confirm that in order to fully catch the success of national Chinese champions the role of government policies should be better investigated.

Results highlight the importance of R&D investment and technology transfer also for SMEs in high‐tech sectors. As for policy makers, the practice of official institutional recognition – a well experimented form of rewarding used in China – might be an effective way to stimulate virtuous imitative processes.

The comparison of these two global players is itself original. Moreover there is a valuable attempt to understand from a national champion's perspective the importance of supra‐firms factors such as collaboration with other institutions and government policies.

China always acts as a large low‐cost manufacturing economy under globalization. However, her services are also active and innovative today although still small. The purpose of this paper is to exhibit the roadmap of service innovation research in China and to predict the future research trend.

A literature review was organized under a cross framework – innovation in services, and service innovation with manufacturing. All literature was selected from Chinese academic periodicals and monographs in the last decade. The search keywords include “service innovation”, “knowledge‐intensive business services”, and “new service development”.

Through the review of Chinese literature, two critical characteristics of service innovation were proved, i.e. organizational innovation and regulation environment; and for China, the marketalization of services is urgent for the motivation and accumulation of service innovation capability.

Policy makers should take services as significant as manufacturing, and put them into the national and regional innovation systems. Regulation should be reduced to a low level to stimulate service innovation. Government should also encourage the development of the services infrastructure, including social credit system, independent intermediary, grid, and NGOs, etc.

The paper gives an insight into the perspectives of management, sociology, and economics in the service innovation field using the Chinese research track as an illustration.

Purpose – This chapter examines how drug prescribing behavior in Taiwanese hospitals changed after the government changed reimbursement systems. In 2002, Taiwan instituted a system in which hospitals are reimbursed for drug expenditures at full price from a fixed global budget before the remaining budget is allocated to reimburse all other expenditures, often at discounted prices. Providers are thus given a financial incentive to increase prescriptions.

Methodology – We isolate the effect of this system from that of other confounding factors by estimating a difference-in-difference model to analyze monthly drug expenditures of hospital departments for outpatients during the years 1999–2006.

Findings – Our results suggest that hospital departments which use drugs more heavily as part of their regular medical care increased their drug prescription expenditures after the implementation of the global budget system. In addition, we find that the response was stronger among for-profit than not-for-profit and public hospitals.

Implications – Hospital doctors responded to the financial incentive created by the particular global budgeting system adopted in Taiwan by increasing expenditures on drug treatments for outpatients.

This paper aims to study the nonlinear supporting performance of hydrostatic ram under the impact of cutting force and search for an optimal solution to improve its stiffness.

The Reynolds equation was applied to resolve the carrying capability of a single oil pad numerically, and an iteration method was used to analyze the nonlinear supporting force and stiffness of a pair of oil pads placed face-to-face. The total offset of ram could be obtained after the displacement of aspectant oil pads was solved by the bisection method. From the comparison of the offset values of ram evaluated under different support conditions, the optimal solution was determined.

In this study, an optimized oil supply allocation, concluded as 1.16:0.84, is proposed to improve the performance of hydrostatic ram supporting structure.

The supporting performance of hydrostatic ram could be improved by appropriate allocation of oil supply without extra energy consumption.

The purpose of this paper is to provide a method that can better evaluate the credit risk (CR) under PPP project finance.

The principle to evaluate the CR of PPP projects is to calculate three critical indicators: the default probability (DP), the recovery rate (RR) and the exposure at default (EAD). The RR is determined by qualitative analysis according to Standard & Poor’s Recovery Scale, and the EAD is estimated by NPV analysis. The estimation of the DP is the focus of CR assessment because the future cash flow is not certain, and there are no trading records and market data that can be used to evaluate the credit condition of PPP projects before financial close. The modified CreditMetrics model and Monte Carlo simulation are applied to evaluate the DP, and the application is illustrated by a PPP project finance case.

First, the proposed method can evaluate the influence of the project’s cash flow uncertainty on the potential loss of the bank. Second, instead of outputting a certain default loss value, the method can derive an interval of the potential loss for the bank. Third, the method can effectively analyze how different repayment schedules and risk preference of banks influence the evaluating result.

The proposed method offers an approach for the bank to value the CR under PPP project finance. The method took into consideration of the uncertainty and other characteristics of PPP project finance, adopted and improved the CreditMetrics model, and provided a possible loss range under different project cash flow volatilities through interval estimation under certain confident level. In addition, the bank’s risk preference is considered in the CR evaluating method proposed in this study where the bank’s risk preference is first investigated in the CR evaluating process of PPP project finance.