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Article
Publication date: 3 October 2008

Xiaofeng Du and Amory N. Li

The purpose of this paper is to propose a comprehensive approach to the valuation of an infrastructure concession right and quantitative risk management projects in the People's…

2573

Abstract

Purpose

The purpose of this paper is to propose a comprehensive approach to the valuation of an infrastructure concession right and quantitative risk management projects in the People's Republic of China.

Design/methodology/approach

The paper outlines a methodology, incorporating an economic model to appraise the dynamic value and risk of concession investment in the context of the design of concession contracts.

Findings

The framework of the study simulates the present value of net cash flow and identifies probability with different parameters in concession contracts as a way to establish a correlation between parameters and net present value distribution. Moreover, the paper uses the technique of value‐at‐risk to set up an economic model to appraise the dynamic value and risk of a concession investment and analyse the key issues in the concession contracts design phase.

Research limitations/implications

It is difficult to estimate precisely the distribution of parameters in the model. In particular, estimating shortfalls in the rate of return of the concession project, the appreciation rate of the future operating cash flow and the market rate of return all have significant impact on the results.

Practical implications

This study frames examines the concession rights mode in a traffic infrastructure construction project and provides potential developers and potential host governments with a reasoned approach to evaluating risk and capital investment in potential concession projects.

Originality/value

The paper offers insights into the risk management, financing and valuation of infrastructure concession rights concerning the Guangshen Freeway in China.

Details

Management Research News, vol. 31 no. 12
Type: Research Article
ISSN: 0140-9174

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Article
Publication date: 10 January 2018

Xiaoling Wu, Yichen Peng, Xiaofeng Liu and Jing Zhou

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for the…

297

Abstract

Purpose

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for the public-private-partnership (PPP) project.

Design/methodology/approach

Based on the governmental dilemma for the compensation of PPP project, a generalized compensation contract is designed by the combination of compensation before the event and compensation after the event. Then the private investor's claimed concession profit is taken as its fair reference point according to the idea of the BO model, and its fair utility function is established by improving the FS model. Thus the master-slave counter measure game is applied to conduct the behavior modeling for the governmental compensation contract design.

Findings

By analyzing the model given in this paper, some conclusions are obtained. First, the governmental optimal compensation contract is fair incentive for the private investor. Second, the private fair preference is not intuitively positive or negative related to the social efficiency of compensation. Only under some given conditions, the correlation will show the consistent effect. Third, the private fair behavior’s impact on the efficiency of compensation will become lower and lower as the social cost of compensation reduces. Fourth, the governmental effective compensation scheme should be carried out based on the different comparison scene of the private claimed portfolio profit and the expected revenue for the project.

Originality/value

This study analyzes the effects of private investor's fair preference on the validity of governmental generalized compensation contract of the PPP project for the first time; and the governmental generalized compensation contract designed in this study is a pioneering and exploratory attempt.

Details

China Finance Review International, vol. 8 no. 1
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 1 July 2020

Thandiwe Bongani Radebe, Zhongjie Huan and Jeffrey Baloyi

South Africa is the highest consumer of commercial energy per capita in Africa, ranking 16th in the world for primary energy consumption. It is also ranked among the bottom 50 of…

236

Abstract

Purpose

South Africa is the highest consumer of commercial energy per capita in Africa, ranking 16th in the world for primary energy consumption. It is also ranked among the bottom 50 of the 150 countries regarding energy efficiency. The cold chain is a large contributor through refrigerated transport vehicles. To comply with the changing climate regulations, cryogenic and eutectic systems are systems with great potential for small distance refrigerated transport. The purpose of this paper is to introduce eutectic system to medium distance refrigerated transport.

Design/methodology/approach

This study presents the potential use of Eutectic plates inside a medium refrigerated transport vehicle, by numerically investigating the characteristics of phase change material eutectic plates applied at low-temperature ranges. A physical model and a mathematical model for three-dimensional transient natural flow were developed as proposed by Xiaofeng and Zhang. Using the governing equation of mass, momentum and energy conservation, three Eutectic plate configurations were modeled and simulated in ANSYS Fluent for 5 h.

Findings

A uniform heat transfer and airflow condition inside a refrigerated compartment were predicted using the Reynolds stress model. The configuration with eutectic plates placed at the top and side showed great potential for the system functioning in the South African climate.

Research limitations/implications

Medium refrigerated transport vehicle.

Originality/value

This configuration had a high-temperature distribution across the compartment and promoted high air circulations, showing that it could be ideal for medium refrigerated transport vehicles delivering perishable foodstuffs or non-food goods.

Details

Journal of Engineering, Design and Technology , vol. 19 no. 1
Type: Research Article
ISSN: 1726-0531

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Article
Publication date: 29 June 2020

Xiaofeng Quan, Hongjun Xiao, Qiong Ji and Jinkang Zhang

This paper aims to analyse the role of government-led innovative knowledge management platforms in innovation knowledge management, social network effects and innovative resource…

848

Abstract

Purpose

This paper aims to analyse the role of government-led innovative knowledge management platforms in innovation knowledge management, social network effects and innovative resource clusters in the context of academician workstations in China. Specifically, this paper empirically studies the impact of academician workstations on corporate innovation capabilities and the mechanisms behind this impact.

Design/methodology/approach

This study uses the propensity matching score method and difference-in-differences method to test the relationship between academician workstations and corporate innovation capabilities. Baron and Kenny’s (1986) mediation method is used to test two potential mechanisms.

Findings

Academician workstations significantly improve corporate innovation capabilities because of their contribution to knowledge and innovation management. The facilitation effects are stronger in non-state-owned firms, high-tech firms and firms in industries with low levels of competition. Further, academician workstations enhance corporate innovation capabilities through their funding effect.

Practical implications

This paper encourages policymakers to create a better market environment and stable support policies to facilitate sustainable scientific and technological innovation.

Originality/value

To the best of authors’ knowledge, this study is among the first to empirically analyse the impacts of innovative knowledge management platforms on corporate innovation. It enriches the theoretical perspective of innovation platforms and provides an excellent research perspective for effectively analysing the impacts of innovation platforms. This study also contributes to the literature on the determinants of innovation.

Details

Journal of Knowledge Management, vol. 25 no. 1
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 9 April 2020

Xiaofeng Wang, Haoyue Chu and Qingshan Yang

This paper aims to numerically study the effects of boundary conditions, pre-stress, material constants and thickness on the dynamic performance of a wrinkled thin membrane.

248

Abstract

Purpose

This paper aims to numerically study the effects of boundary conditions, pre-stress, material constants and thickness on the dynamic performance of a wrinkled thin membrane.

Design/methodology/approach

Based on the stability theory of plates and shells, the dynamic equations of a wrinkled thin membrane were developed, and they were solved with the Lanczos method

Findings

The effects of wrinkle-influencing factors on the dynamic performance of a wrinkled membrane are determined by the wrinkling stage. The effects are prominent when wrinkling deformation is evolving, but they are very small and can hardly be observed when wrinkling deformation is stable. Mode shapes of a wrinkled membrane are sensitive to boundary conditions, pre-stress and Poisson’s ratio, but its natural frequencies are sensitive to all these five factors.

Practical implications

The research work in this paper is expected to help understand the dynamic behavior of a wrinkled membrane and present access to ensuring its dynamic stability by controlling the wrinkle-influencing factors.

Originality/value

Very few documents investigated the dynamic properties of wrinkled membranes. No attention has yet been paid by the present literature to the global dynamic performance of a wrinkled membrane under the influences of the factors that play a pivotal role in the wrinkling deformation. In view of this, this paper numerically studied the global modes and corresponding frequencies of a wrinkled membrane and their variation with the wrinkle-influencing factors. The results indicate that the global dynamic properties of a wrinkled membrane are sensitive to these factors at the stage of wrinkling evolution.

Available. Open Access. Open Access
Article
Publication date: 3 November 2022

Ming Yang, Duoxiang Wang, Xiaofeng Chen, Xiaomiao Lei and Linxiang Cao

This study aims to analyse the scientific relationship between technological innovation and carbon emissions. Taking the Chinese electric power industry as the empirical research…

988

Abstract

Purpose

This study aims to analyse the scientific relationship between technological innovation and carbon emissions. Taking the Chinese electric power industry as the empirical research object, this study examined the effect of power technological innovation on carbon emissions and proposed policy recommendations for the development of technological innovation in China.

Design/methodology/approach

This study first calculated the energy consumption and carbon emission level of the Chinese electric power industry from 2005 to 2018. Secondly, this study built an evaluation index system for technological innovation of electric power with six indicators: average utilisation hours of power generation equipment; power consumption rate of power plant; line loss rate; standard coal consumption for power generation; standard coal consumption for power supply; and number of patent applications granted for generation, conversion or distribution of electric power in China. Finally, from a practical point of view, the relationship between technological innovation and carbon emissions of the Chinese electric power industry from 2005 to 2018 is evaluated and analysed.

Findings

Power technology innovation has been found to have a long-term and relatively large effect on carbon emissions, and carbon emissions have a short-term and insignificant impact on power technology innovation.

Research limitations/implications

This study puts forward relevant suggestions for developing technological innovation and technology transfer, which is essential to establishing a low-carbon or zero-carbon power system in China.

Practical implications

This study provides empirical evidence for clarifying the relationship between technological innovation and carbon emissions in the power industry and further develops research theories on technological innovation and carbon emissions.

Social implications

Relevant authorities will adopt measures to promote technological innovation and development in the power sector to reduce carbon emissions.

Originality/value

This study built an evaluation index system with six indicators for technological innovation of electric power. The evaluation method was used to measure the technological innovation level of the Chinese electric power industry. The causal link between technological innovation and carbon emissions in China was analysed.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 2
Type: Research Article
ISSN: 1756-8692

Keywords

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Article
Publication date: 3 December 2024

Lin Xiao, Xiaofeng Li and Jian Mou

Short-form video advertisements have recently gained popularity and are widely used. However, creating attractive short video advertisements remains a challenge for sellers. Based…

369

Abstract

Purpose

Short-form video advertisements have recently gained popularity and are widely used. However, creating attractive short video advertisements remains a challenge for sellers. Based on the visual-audio perspective and signaling theory, this study investigated the impacts of three visual features (number of shots, pixel-level image complexity and vertical versus horizontal formats) and two audio features (speech rate and average spectral centroid) on user engagement behavior.

Design/methodology/approach

We conducted a field study on TikTok. To test our various hypotheses, we used regression analysis on 2,511 videos containing product promotion information posted by 60 sellers between January 1, 2020 and November 20, 2021.

Findings

For visual variables, the number of shots and pixel-level image complexity were found to have nonlinear (inverted U-shaped) relationships with user engagement behavior. The vertical video form was found to have a positive effect on comments and shares. In the case of audio variables, speech rate was found to have a significant positive effect on shares but not on likes and comments. The average spectral centroid was found to have significant negative influences on likes and comments.

Practical implications

This study provides specific suggestions for sellers who create short-form videos to improve user engagement behavior.

Originality/value

This study contributes to the literature on short-form video advertising by extending the potential drivers of user engagement behavior. Additionally, from a methodological perspective, it contributes to the literature by using computer vision and speech-processing techniques to analyze user behavior in a video-related context, effectively overcoming the limitations of the widely adopted survey method.

Details

Internet Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 26 September 2019

Hailong Zhao, Lirong Luo, Fangwei Guo, Xiaofeng Zhao and Ping Xiao

The purpose of this paper is to investigate the tribological performance of Cr3C2–NiCr–Mo–BaF2 composite sliding against a Si3N4 ball at high temperatures.

186

Abstract

Purpose

The purpose of this paper is to investigate the tribological performance of Cr3C2–NiCr–Mo–BaF2 composite sliding against a Si3N4 ball at high temperatures.

Design/methodology/approach

A Cr3C2–NiCr composite and a Cr3C2–NiCr–Mo–BaF2 composite were prepared using spark plasma sintering. Tribological properties of the composites were investigated using a ball-on-disk type tribotester. The relationships among the microstructure, wear mechanism and tribological performance were determined by analyzing the wear track morphologies and the glaze layer’s phase composition.

Findings

The wear rate of the Cr3C2–NiCr–Mo–BaF2 composite was approximately one order of magnitude lower than that of the Cr3C2–NiCr composite from 700°C to 900°C when sliding against a Si3N4 ball. The favorable tribological performance of the Cr3C2–NiCr–Mo–BaF2 composite at high temperatures results from the synergistic lubrication of MoOx, BaF2 and BaMoO4.

Originality/value

This paper reports a new Cr3C2–NiCr matrix self-lubricating composite with better tribological properties than Cr3C2–NiCr composite at temperatures up to 900°C through Mo and BaF2 addition.

Details

Industrial Lubrication and Tribology, vol. 72 no. 1
Type: Research Article
ISSN: 0036-8792

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Article
Publication date: 6 August 2024

Yanxi Zhu, Jinzhu Shen, Jianping Wang, Fan Zhang and Xiaofeng Yao

To reduce the difficulty of the sewing process and promote the automation process of fabric sewing, a soft finger-assisted feeding method is proposed to investigate the effect of…

56

Abstract

Purpose

To reduce the difficulty of the sewing process and promote the automation process of fabric sewing, a soft finger-assisted feeding method is proposed to investigate the effect of sewing process parameters on the quality of automatic sewing.

Design/methodology/approach

Taking cotton woven fabrics as an example, the causes of sewing deviation are firstly investigated from three aspects: fabric properties, sewing speed and sewing edge position. By simulating the sewing action of human hands, the method of reducing sewing deviation by using soft fingers to press and feed the fabric is proposed. Then, four sewing process factors, namely, robot arm end pressure, sewing machine speed, sewing needle gauge and stitch density, were selected, and three levels were set for each factor to design orthogonal sewing experiments. The sewing deviation of 1# sample under different sewing processes was measured, and the optimal parameter matching for automatic sewing of this specimen was derived.

Findings

The findings demonstrate that, while sewing cloth automatically, the sewing deviation is significantly influenced by the robotic arm's end pressure, sewing speed, and stitch density, whereas the sewing deviation is not significantly impacted by the needle number.

Originality/value

The findings offer fundamental information for the development of an automated sewing procedure using soft fingers, which has theoretical and real-world application value to speed up the intelligent modernization and transformation of the apparel industry.

Details

International Journal of Clothing Science and Technology, vol. 36 no. 6
Type: Research Article
ISSN: 0955-6222

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Article
Publication date: 21 June 2021

Huizhong Zhang, Yu Zuo, Pengfei Ju, Jian Zhang, Xuhui Zhao, Yuming Tang and Xiaofeng Zhang

The purpose of this paper is to study the variations of composition and properties of the passive film on 316 L stainless steel surface in 80°C, 0.5 mol L-1 H2SO4 + 2 mg L-1 NaF…

105

Abstract

Purpose

The purpose of this paper is to study the variations of composition and properties of the passive film on 316 L stainless steel surface in 80°C, 0.5 mol L-1 H2SO4 + 2 mg L-1 NaF solution, is helpful to understand the mechanisms of corrosion resistancethe of plated Pd on 316 L ss.

Design/methodology/approach

The variations of composition and properties of the passive film on 316 L stainless steel surface in 80°C, 0.5 mol L-1 H2SO4 + 2 mg L-1 NaF solution after connected to Pd electrode were studied with methods of potential monitor, X-ray photoelectron spectroscopy analysis and electrochemical impedance spectrum (EIS) measurement.

Findings

By connecting to a Pd electrode, the potential of the SS sample increased from the active region to the passive region. By connecting to the Pd electrode, the contents of Cr, Cr(OH)3 and Fe3O4 in passive film increased obviously. With increased Pd/SS area ratio, the Cr(OH)3 content in passive film increased but the Fe3O4 content changed little. The results show that after connecting to Pd the corrosion resistance of the passive film on 316 L stainless steel increases obviously, which may be attributed to the more compact passive film because of higher Cr, Cr(OH)3 and Fe3O4 contents and less point defects in the film.

Originality/value

The effects and mechanism of Pd on passivation of SS was studied.

Details

Anti-Corrosion Methods and Materials, vol. 68 no. 3
Type: Research Article
ISSN: 0003-5599

Keywords

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