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A Soviet type of “shock therapy” is not likely to take place in China since a gradual economic reform has already improved the overall economic conditions. Argues that, for further economic development, however, the Chinese communists must recognize two basic facts: (1) Chinese communism has already fulfilled its historical mission by expelling foreign imperialism and domestic feudalism; (2) Marxism and Leninism are of foreign origin. This recognition is able to pave the way for a final adoption of the Taiwanese model of economic development, which is based on the ideas developed by Sun Yat‐Sen, who had never stopped to insist that modernization should not abandon the Chinese tradition, especially Confucianism.

We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as responsible “stewards” rather than “agents” of the state.

We test this view on China and find that Chinese managers are remunerated not for maximizing equity value but for increasing the value of state-owned assets.

Managerial compensation depends on political connections and prestige, and on the firms’ contribution to political goals. These effects were attenuated since the market-oriented governance reform.

Economic reform without reforming the human resources policies at the executive level enables the autocratic state to exert political power on corporate decision making, so as to ensure that firms’ business activities fulfill the state’s political objectives.

As a powerful social elite, the state-steward managers in China have the same interests as the state (the government), namely extracting rents that should adhere to the nation (which stands for the society at large or the collective private citizens).

As China has been a communist country with a single ruling party for decades, the ideas of socialism still have a strong impact on how companies are run. The legitimacy of the elite’s privileged rights over private sectors is central to our question.

Chinese executive compensation stimulates not only the maximization of shareholder value but also the preservation of the state’s interests.

As the excessive lifting force can lead to catwalk rollover and well site accidents, the lifting process boundary conditions and structural parameters have a significant effect lifting force, it is important to analysis the structural parameters on the maximum lifting force in the lifting process of power catwalk.

A new model is proposed to analyze the influence of structure parameters on its lifting force for lifting power catwalk in this paper, and the geometric and dynamic equations are established according to the different boundary conditions in different stages. In addition, the establishment of dynamics equations is based on D'Alembert's principle. To solve the model, dynamic analysis software is developed, which uses c # call MATLAB to solve the geometric and dynamic equations. The maximum lifting force is analyzed and optimized according to the software, the influence of structural parameters on the maximum lifting force is obtained and the correctness of the optimization is proved by experiments.

The best value of offset e is 0. The length of L22 should as small as possible while the installation size of the end of the conveying arm are guaranteed. The length of L1 should as small as possible while ensuring the not exceed the maximum value. The maximum lifting force remain the same in the second phase, the maximum lifting force decreases with the increase of Lcp, Lcpshould as small as possible. The maximum pressure of the hydraulic oil dropped by an average of 13.62% under optimized parameters.

This paper provides a theoretical basis for the selection of hydraulic winch, which also provides the theoretical basis and data support for the design and optimization of the structural parameters of the power catwalk.

This research has industrial applications in SJ Petroleum Machinery CO.LTD, SINOPEC (China) .CANRIG, North Rig, TESCO, Sichuan HONGHUA petroleum equipment CO.LTD of CNPC., Baoji Oil field Machinery CO.LTD, SJ Petroleum Machinery Co. LTD of SINOPEC, Yantai Jereh Oilfield Services Group CO.LTD, Nanyang clips oil equipment (group) CO. LTD, etc are the likely users.

A new model is proposed to analyze the lifting force of lifting power catwalk. The model takes into account the inertia force of the structure, development of dynamics software and analysis and optimization of structural parameters. The maximum lifting force is analyzed and optimized according to the software, the influence of structural parameters on the maximum lifting force is obtained and the correctness of the optimization is proved by experiments.

Under the high-speed operating conditions, the effects of wheelset elastic deformation on the wheel rail dynamic forces will become more notable compared to the low-speed condition. In order to meet different analysis requirements and selecting appropriate models to analyzing the wheel rail interaction, it is crucial to understand the influence of wheelset flexibility on the wheel-rail dynamics under different speeds and track excitations condition.

The wheel rail contact points solving method and vehicle dynamics equations considering wheelset flexibility in the trajectory body coordinate system were investigated in this paper. As for the wheel-rail contact forces, which is a particular force element in vehicle multibody system, a method for calculating the Jacobian matrix of the wheel-rail contact force is proposed to better couple the wheel-rail contact force calculation with the vehicle dynamics response calculation. Based on the flexible wheelset modeling approach in this paper, two vehicle dynamic models considering the wheelset as both elastic and rigid bodies are established, two kinds of track excitations, namely normal measured track irregularities and short-wave irregularities are used, wheel-rail geometric contact characteristic and wheel-rail contact forces in both time and frequency domains are compared with the two models in order to study the influence of flexible wheelset rotation effect on wheel rail contact force.

Under normal track irregularity excitations, the amplitudes of vertical, longitudinal and lateral forces computed by the flexible wheelset model are smaller than those of the rigid wheelset model, and the virtual penetration and equivalent contact patch are also slightly smaller. For the flexible wheelset model, the wheel rail longitudinal and lateral creepages will also decrease. The higher the vehicle speed, the larger the differences in wheel-rail forces computed by the flexible and rigid wheelset model. Under track short-wave irregularity excitations, the vertical force amplitude computed by the flexible wheelset is also smaller than that of the rigid wheelset. However, unlike the excitation case of measured track irregularity, under short-wave excitations, for the speed within the range of 200 to 350 km/h, the difference in the amplitude of the vertical force between the flexible and rigid wheelset models gradually decreases as the speed increase. This is partly due to the contribution of wheelset’s elastic vibration under short-wave excitations. For low-frequency wheel-rail force analysis problems at speeds of 350 km/h and above, as well as high-frequency wheel-rail interaction analysis problems under various speed conditions, the flexible wheelset model will give results agrees better with the reality.

This study provides reference for the modeling method of the flexible wheelset and the coupling method of wheel-rail contact force to the vehicle multibody dynamics system. Furthermore, by comparative research, the influence of wheelset flexibility and rotation on wheel-rail dynamic behavior are obtained, which is useful to the application scope of rigid and flexible wheelset models.

Extending the proposition that boards of directors influence firms’ mergers and acquisitions (M&As), studies have investigated how board interlocks – network ties formed by directors — may shape M&A processes and outcomes. While board interlocks and M&As are two streams of research, each underpinned by voluminous studies, their cross-fertilization has been relatively limited. In this chapter, the authors take stock of prior research investigating the relationship between board interlocks and M&As. Specifically, emphasizing the network features of board interlocks, the authors highlight a connection aspect and a structure aspect of board interlocks in appreciating their effects during pre-acquisition and post-acquisition phases. Based on this framework, the authors then lay out a research agenda that can further bridge board interlocks with M&As. Overall, this chapter endeavors to integrate and expand our knowledge on the acquisition implications of board interlocks.

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times during the last 10 years, reaching $55.9 billion in 2008. The issue of internationalization of Chinese OFDI has attracted increasing attention of researchers from a business perspective. This article systematically reviews the previous studies on overseas investments by Chinese MNEs and discusses the characteristics of Chinese internationalization behavior at both firm level and country level. The internationalization of Chinese companies cannot be understood as a simple game of “catch up” with established MNEs, and more firm‐level empirical studies should be carried out on how these characteristics influence firms’ strategic decisions.

It is of a great significance for the health monitoring of a liquid rocket engine to build an accurate and reliable fault prediction model. The thrust of a liquid rocket engine is an important indicator for its health monitoring. By predicting the changing value of the thrust, it can be judged whether the engine will fail at a certain time. However, the thrust is affected by various factors, and it is difficult to establish an accurate mathematical model. Thus, this study uses a mixture non-parametric regression prediction model to establish the model of the thrust for the health monitoring of a liquid rocket engine.

This study analyzes the characteristics of the least squares support vector regression (LS-SVR) machine . LS-SVR is suitable to model on the small samples and high dimensional data, but the performance of LS-SVR is greatly affected by its key parameters. Thus, this study implements the advanced intelligent algorithm, the real double-chain coding target gradient quantum genetic algorithm (DCQGA), to optimize these parameters, and the regression prediction model LSSVRDCQGA is proposed. Then the proposed model is used to model the thrust of a liquid rocket engine.

The simulation results show that: the average relative error (ARE) on the test samples is 0.37% when using LS-SVR, but it is 0.3186% when using LSSVRDCQGA on the same samples.

The proposed model of LSSVRDCQGA in this study is effective to the fault prediction on the small sample and multidimensional data, and has a certain promotion.

The original contribution of this study is to establish a mixture non-parametric regression prediction model of LSSVRDCQGA and properly resolve the problem of the health monitoring of a liquid rocket engine along with modeling the thrust of the engine by using LSSVRDCQGA.

This study aims to explore how institutional quality impacts private capital participation in large-scale infrastructure development, particularly in public–private partnership (PPP) projects, aiming to enhance incentives for private sector involvement.

Building on new institutional theory, a triangular theoretical framework was constructed to analyze the high participation of private capital in PPP projects, focusing on seven key institutional factors. Data from 1,319 PPP projects across 36 Belt and Road Initiative (BRI) countries from 2015 to 2020 were then analyzed using a combination of necessary condition analysis (NCA) and fuzzy set qualitative comparative analysis (fsQCA) to evaluate the combined impact and interactions of these factors.

Results indicate that high private capital participation does not hinge on a single institutional quality factor but results from the synergistic influence of multiple factors. The paths leading to high private capital participation can be categorized as regulatory-led, normative-cognitive synergistic, regulatory-normative synergistic and institutional failure-led. Among these, regulatory quality plays a central role in the regulatory-led; the synergy between political stability and voice and accountability is pivotal in the normative-cognitive synergistic, and the rule of law, in combination with voice and accountability, is essential to the regulatory-normative synergistic.

This research systematically examines the multidimensional impact of institutional quality, revealing how different institutional factors interact to influence private capital’s willingness to participate and behavior. It enriches applied research in institutional economics within PPP projects and provides a new theoretical perspective and methodological framework to the scholarly community.

Due to social transformation in China, more than 100,000,000 people are migrating within the country. Many parents are forced to leave their children behind when they migrate. In 2008, 58,000,000 children were living as left‐behind children, mainly in the rural parts of China (Zhang, 2009).Migration and its accompanying stressors may affect the mental health of the left‐behind children. This unique literature review of Chinese literature summarises the present state of knowledge and reviews the influential factors. Possible approaches to intervention and system reforms are discussed.A literature review was performed of published studies between 2001 and 2008. Databases used were Fujian Medical University Library Interface, Chinese National Knowledge Infrastructure, Wanfang Data, and VIP Information. The Chinese word for ‘left‐behind’ was used as a key word. Books, book chapters, monographs and studies on caring were searched electronically and by hand. Altogether, 53 items were found, discussed and grouped together. Migration affected the mental health of the left‐behind children in a passive way, especially their emotions and social behaviour.There is still controversy over how serious mental health problems are among children who have been left behind. Life events, personality, coping strategies and social suppor t can be regarded as four main factors that are predictive of mental health, which provides theoretical guidance for intervention. Suppor t and prevention of mental health problems in schools, in families and in primary care should be developed and studied.