Search results

1 – 10 of over 39000
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Book part
Publication date: 12 November 2016

Hao Liang, Luc Renneboog and Sunny Li Sun

We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as…

Abstract

Purpose

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.

Methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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).

Social implications

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.

Originality/value

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

Details

The Political Economy of Chinese Finance
Type: Book
ISBN: 978-1-78560-957-2

Keywords

Access Restricted. View access options
Article
Publication date: 27 October 2022

Haifeng Huang, Xiaoyang Wu, Tingting Wang, Yongbin Sun and Qiang Fu

This paper aims to study the application of reinforcement learning (RL) in the control of an output-constrained flapping-wing micro aerial vehicle (FWMAV) with system uncertainty.

323

Abstract

Purpose

This paper aims to study the application of reinforcement learning (RL) in the control of an output-constrained flapping-wing micro aerial vehicle (FWMAV) with system uncertainty.

Design/methodology/approach

A six-degrees-of-freedom hummingbird model is used without consideration of the inertial effects of the wings. A RL algorithm based on actor–critic framework is applied, which consists of an actor network with unknown policy gradient and a critic network with unknown value function. Considering the good performance of neural network (NN) in fitting nonlinearity and its optimum characteristics, an actor–critic NN optimization algorithm is designed, in which the actor and critic NNs are used to generate a policy and approximate the cost functions, respectively. In addition, to ensure the safe and stable flight of the FWMAV, a barrier Lyapunov function is used to make the flight states constrained in predefined regions. Based on the Lyapunov stability theory, the stability of the system is analyzed, and finally, the feasibility of RL in the control of a FWMAV is verified through simulation.

Findings

The proposed RL control scheme works well in ensuring the trajectory tracking of the FWMAV in the presence of output constraint and system uncertainty.

Originality/value

A novel RL algorithm based on actor–critic framework is applied to the control of a FWMAV with system uncertainty. For the stable and safe flight of the FWMAV, the output constraint problem is considered and solved by barrier Lyapunov function-based control.

Details

Assembly Automation, vol. 42 no. 6
Type: Research Article
ISSN: 0144-5154

Keywords

Access Restricted. View access options

Abstract

Details

Rethinking Finance in the Face of New Challenges
Type: Book
ISBN: 978-1-80117-788-7

Access Restricted. View access options
Article
Publication date: 9 January 2019

Nikolaos Kehayas

The purpose of this paper is to attempt an aerospaceplane design with the objective of Low-Earth-Orbit-and-Return-to-Earth (LEOARTE) under the constraints of safety, low cost…

232

Abstract

Purpose

The purpose of this paper is to attempt an aerospaceplane design with the objective of Low-Earth-Orbit-and-Return-to-Earth (LEOARTE) under the constraints of safety, low cost, reliability, low maintenance, aircraft-like operation and environmental compatibility. Along the same lines, a “sister” point-to-point flight on Earth Suborbital Aerospaceplane is proposed.

Design/methodology/approach

The LEOARTE aerospaceplane is based on a simple design, proven low risk technology, a small payload, an aerodynamic solution to re-entry heating, the high-speed phase of the outgoing flight taking place outside the atmosphere, a propulsion system comprising turbojet and rocket engines, an Air Collection and Enrichment System (ACES) and an appropriate mission profile.

Findings

It was found that a LEOARTE aerospaceplane design subject to the specified constraints with a cost as low as 950 United States Dollars (US$) per kilogram into Low Earth Orbit (LEO) might be feasible. As indicated by a case study, a LEOARTE aerospaceplane could lead, among other activities in space, to economically viable Space-Based Solar Power (SBSP). Its “sister” Suborbital aerospaceplane design could provide high-speed, point-to-point flights on the Earth.

Practical implications

The proposed LEOARTE aerospaceplane design renders space exploitation affordable and is much safer than ever before.

Originality/value

This paper provides an alternative approach to aerospaceplane design as a result of a new aerodynamically oriented Thermal Protection System (TPS) and a, perhaps, improved ACES. This approach might initiate widespread exploitation of space and offer a solution to the high-speed “air” transportation issue.

Details

Aircraft Engineering and Aerospace Technology, vol. 91 no. 2
Type: Research Article
ISSN: 1748-8842

Keywords

Access Restricted. View access options
Article
Publication date: 1 February 2005

S. Khalil, J. Nam and W. Sun

To introduce recent research and development of biopolymer deposition for freeform fabrication of three‐dimensional tissue scaffolds that is capable of depositing bioactive…

9017

Abstract

Purpose

To introduce recent research and development of biopolymer deposition for freeform fabrication of three‐dimensional tissue scaffolds that is capable of depositing bioactive ingredients.

Design/methodology/approach

A multi‐nozzle biopolymer deposition system is developed, which is capable of extruding biopolymer solutions and living cells for freeform construction of 3D tissue scaffolds. The deposition process is biocompatible and occurs at room temperature and low pressures to reduce damage to cells. In contrast with other systems, this system is capable of, simultaneously with scaffold construction, depositing controlled amount of cells, growth factors, or other bioactive compounds with precise spatial position to form complex cell‐seeded tissue constructs. The examples shown are based on sodium alginate solutions and poly‐ε‐caprolactone (PCL). Studies of the biopolymer deposition feasibility, structural formability, and different material deposition through a multi‐nozzle heterogeneous system are conducted and presented.

Findings

Provides information about the biopolymer deposition using different nozzle systems, the relations of process parameters on deposition flow rate and scaffold structural formability. Three‐dimensional alginate‐based scaffolds and scaffold embedded with living cells can be freeform constructed according to various design configurations at room temperature without using toxic materials.

Research limitations/implications

Other biopolymers may also be studied for structure formation. Studying cell viability and cellular tissue engineering behavior of the scaffolds after the cell deposition should be further investigated.

Practical implications

A very useful and effective tool for construction of bioactive scaffolds for tissue engineering applications based on a multi‐nozzle biopolymer deposition.

Originality/value

This paper describes a novel process and manufacturing system for fabrication of bioactive tissue scaffolds, automatic cell loading, and heterogeneous tissue constructs for emerging regenerative medicine.

Details

Rapid Prototyping Journal, vol. 11 no. 1
Type: Research Article
ISSN: 1355-2546

Keywords

Available. Open Access. Open Access
Article
Publication date: 23 January 2025

Wanru Xie, Yixin Zhao, Gang Zhao, Fei Yang, Zilong Wei and Jinzhao Liu

High-speed turnouts are more complex in structure and thus may cause abnormal vibration of high-speed train car body, affecting driving safety and passenger riding experience…

27

Abstract

Purpose

High-speed turnouts are more complex in structure and thus may cause abnormal vibration of high-speed train car body, affecting driving safety and passenger riding experience. Therefore, it is necessary to analyze the data characteristics of continuous hunting of high-speed trains passing through turnouts and propose a diagnostic method for engineering applications.

Design/methodology/approach

First, Complete Ensemble Empirical Mode Decomposition with Adaptive Noise (CEEMDAN) is performed to determine the first characteristic component of the car body’s lateral acceleration. Then, the Short-Time Fourier Transform (STFT) is performed to calculate the marginal spectra. Finally, the presence of a continuous hunting problem is determined based on the results of the comparison calculations and diagnostic thresholds. To improve computational efficiency, permutation entropy (PE) is used as a fast indicator to identify turnouts with potential problems.

Findings

Under continuous hunting conditions, the PE is less than 0.90; the ratio of the maximum peak value of the signal component to the original signal peak value exceeded 0.7, and there is an energy band in the STFT time-frequency map, which corresponds to a frequency distribution range of 1–2 Hz.

Originality/value

The research results have revealed the lateral vibration characteristics of the high-speed train’s car body during continuous hunting when passing through turnouts. On this basis, an effective diagnostic method has been proposed. With a focus on practical engineering applications, a rapid screening index for identifying potential issues has been proposed, significantly enhancing the efficiency of diagnostic processes.

Details

Railway Sciences, vol. 4 no. 1
Type: Research Article
ISSN: 2755-0907

Keywords

Access Restricted. View access options
Article
Publication date: 28 January 2014

L. Sun, W.M. Huang, H.B. Lu, C.C. Wang and J.L. Zhang

– This paper aims to present a review on utilizing shape memory technology (SMT) for active assembly/disassembly, i.e. assembly/disassembly without physically touching.

1144

Abstract

Purpose

This paper aims to present a review on utilizing shape memory technology (SMT) for active assembly/disassembly, i.e. assembly/disassembly without physically touching.

Design/methodology/approach

The fundamentals behind the shape memory effect (SME) in materials, in particular shape memory alloys (SMAs) and polymers, which are the cornerstones of SMT, are introduced, together with the possible approaches to implement this effect in active assembly/disassembly. Example applications for not only active assembly/ disassembly, but also programmed active disassembly are presented.

Findings

The advantages of utilizing SMT over conventional assembly/disassembly techniques are identified.

Originality/value

The paper introduces the fundamentals behind the SME and the basic approaches to implement the SMT in not only active assembly/disassembly, but also programmed active assembly.

Details

Assembly Automation, vol. 34 no. 1
Type: Research Article
ISSN: 0144-5154

Keywords

Access Restricted. View access options
Book part
Publication date: 20 June 2014

Abstract

Details

Evaluating Companies for Mergers and Acquisitions
Type: Book
ISBN: 978-1-78350-622-4

Access Restricted. View access options

Abstract

Details

Finance Reconsidered: New Perspectives for a Responsible and Sustainable Finance
Type: Book
ISBN: 978-1-78560-980-0

Access Restricted. View access options
Book part
Publication date: 16 December 2016

Sharam Alijani and Catherine Karyotis

Abstract

Details

Finance and Economy for Society: Integrating Sustainability
Type: Book
ISBN: 978-1-78635-509-6

1 – 10 of over 39000
Per page
102050