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Article
Publication date: 6 April 2020

Wei-Tek Tsai, Yong Luo, Enyan Deng, Jing Zhao, Xiaoqiang Ding, Jie Li and Bo Yuan

This paper aims to apply blockchains (BCs) for trade clearing and settlement in a realistic clearinghouse. The purpose is to demonstrate the feasibility and scalability of this…

843

Abstract

Purpose

This paper aims to apply blockchains (BCs) for trade clearing and settlement in a realistic clearinghouse. The purpose is to demonstrate the feasibility and scalability of this approach.

Design/methodology/approach

The study uses account BCs and trading BCs as building blocks for trade clearing and settlement. Careful design is made to ensure that this approach is feasible and scalable.

Findings

A design has been proposed that can process hundreds of thousands of trades for a clearinghouse and it addresses performance, privacy and scalability of realistic trade clearing and settlement. The design has been implemented and experimented in a clearinghouse for over two months and processes over 3B real transactions from an exchange. The first month was to experiment with the system with historical data, the second month was to experiment with real-time data during market trading hours. The system performed as designed and intended.

Research limitations/implications

This is the first large research paper that applied BCs for clearing in the world. The authors applied the system to a clearinghouse and processed over 3 billion transactions, equivalent to 13 years of London Stock Exchange transaction volume, demonstrating that BCs can handle a large number of transactions.

Practical implications

The design can be duplicated to many clearinghouses in the world, and this also paves the way BCs can be used in large financial institutions.

Social implications

An implication is that other trading firms, clearinghouses and banks can apply the same technology for trade clearing, ushering the way BCs can be used in institutions. As clearing is a core function in business transactions, this has significant implications. The design can be discussed and improved in various communities.

Originality/value

As this is the first application of BCs to large clearinghouses that uses unique BC designs. This has significant value. Many studies have been performed but few have been reported in the scientific community. The system has been implemented, experimented and demonstrated in public for months.

Details

The Journal of Risk Finance, vol. 21 no. 5
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 13 June 2019

Xiaoqiang Ma, Jiaqi Wang, Ling Zhao and Jinmian Han

The purpose of this paper is to investigate empirically the effects of different dimensions of social capital on the well-being of farmers in China’s undeveloped poverty-stricken…

490

Abstract

Purpose

The purpose of this paper is to investigate empirically the effects of different dimensions of social capital on the well-being of farmers in China’s undeveloped poverty-stricken areas, and study the equivalent multiple of social capital and income compensation.

Design/methodology/approach

The paper opted for an exploratory study using the open-ended approach of grounded theory, including 1,176 interviews with rural households in poverty-stricken areas in China. The data were complemented by documentary analysis. Then an econometric model of social capital and farmers’ well-being was applied to the data.

Findings

The results show that the number frequently visiting relatives, reciprocity, participation and trust level are significantly positively related to the well-being of the farmers, and the level of participation in social capital requires the most income compensation, while the level of trust comes second.

Originality/value

This paper can serve as a template for developing a useful tool that can be fitted to national or regional data for studying the effects of social capital on the well-being of farmers in poor areas or countries and for calculating the concrete equivalent multiple of social capital and income compensation.

Details

China Agricultural Economic Review, vol. 12 no. 1
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 23 September 2024

Shilei Cui, Donasius Pathera, Yajuan Li and Xiaoqiang Jiao

Smallholders are essential in ensuring food security; however, smallholder-dominated food production often involves high resource-environmental costs. This study analyzed the…

90

Abstract

Purpose

Smallholders are essential in ensuring food security; however, smallholder-dominated food production often involves high resource-environmental costs. This study analyzed the factors that differentiate horticultural practices, willingness to adopt technology and social networks between optimized practices (OPT) and farmer practices (FP) to provide localized and systematic solutions for the sustainable apple production.

Design/methodology/approach

To explore the approach of smallholder-dominated sustainable apple production, 257 apple producers in the Bohai Bay region, a major apple planting area in China, were investigated. Life cycle assessment (LCA), emergy analysis and social network analysis methods were used for evaluation.

Findings

The results showed that the net economic profit and emergy sustainability index (ESI) in OPT was 15.8 × 104 RMB·ha-1 and 1.2, respectively, which were 126.9 and 128.0% higher than FP. In contrast, greenhouse gas (GHG) emissions under OPT was 29.3% lower than those under FP. OPT has a higher percentage of adoption of scientific fertilizer application and water-saving irrigation technologies compared to FP. OPT has strong learning abilities, more social resources (such as technical training and sharing technical experience with others) and connections with stakeholders in the apple supply chain. Optimizing smallholders' social capital, willingness to adopt technology, behavioral willingness and technological awareness can promote sustainable apple production.

Originality/value

Considering the horticultural practices employed by smallholders in conjunction with their social networks, these factors contributed to the transition of smallholder-led apple production toward sustainability. The findings provided viable options and a theoretical basis for smallholder-dominated crop production to move toward sustainability, with significant implications for policymakers.

Details

China Agricultural Economic Review, vol. 17 no. 1
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 18 July 2024

Sheng Liu, Xiao Lin and Xiuying Chen

This paper aims to reveal the green governance role played by stock connect in transition economies from the perspective of corporates’ environmental violations and provides…

42

Abstract

Purpose

This paper aims to reveal the green governance role played by stock connect in transition economies from the perspective of corporates’ environmental violations and provides implications for the coordination and optimization of subsequent stock market liberalization and green transformation policies in pursuit of carbon peaking and carbon neutrality goals.

Design/methodology/approach

With the data of Chinese listed enterprises, this paper takes the Shanghai-Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect in China as a quasi-natural experiment and applies the multi-period difference-in-difference (DID) model to identify the impact of stock market liberalization on the corporates’ environmental violations.

Findings

The findings reveal that the stock market liberalization significantly restrains the corporates’ environmental violations. These findings are robust to a series of sensitivity tests, including excluding two-way effects, adjusting the year of policy implementation, replacing the core variables, introducing the regional fixed effects and excluding the interference effect of other relevant policies during the sample period. Furthermore, the stock market liberalization is beneficial for upgrading information disclosure quality, improving internal governance capability, strengthening environmental protection incentives, and thus restrains corporates’ environmental violations. Meanwhile, heterogeneity tests show that the inhibitory effects are more significant in those grouped samples which is large scale, state-owned nature, located in eastern region, with poor evaluation performances and heavy tax burden.

Originality/value

We make two marginal contributions to the current literature. First, this paper enriches the literature on the factors influencing corporate environmental violations by focusing on how the macro-level financial policy influences the micro-level corporate environmental violations. One the one hand, prior studies mainly focused on the consequences of corporate environmental violations; however, there is still a puzzle that the effect of stock market liberalization cannot be fully justified to influence corporate environmental violations. The findings help explain this puzzle by examining that stock market liberalization can restrain corporate environmental violations. Moreover, prior studies mainly focused on corporate share price (Yunsen Chen et al., 2022), market liquidity (Han Kim and Singal, 2000), information disclosure (Liang, Lin, and Chin 2012), corporate governance (Bae and Goyal, 2010) and corporate violations (Lingyun Xiong et al., 2021), but not on corporate environmental violations. We assume that the suppression effect of stock market liberalization on corporate environmental violations can help reduce corporate environmental violations, improve corporates’ awareness of environmental compliance. Second, this paper contributes to a better understanding of the literature on stock market liberalization by investigating the restraining effect of Stock Connect on corporate environmental violations from the perspective of information channel, corporate governance channel and motivation channel, which is of practical significance. Moreover, we investigate the differences in the inhibitory effects of stock market liberalization on different enterprises' environmental violations, from firm size, property rights, enterprise assessment results, tax burden to geographical location, which is conducive to the construction of a green financial system and the promotion of sustainable economic development. Our results show that firms which are large scale, state-owned nature, located in eastern region, with poor evaluation performances and heavy tax burden tend to compliance with environmental laws. These findings emphasize the importance and benefits of Stock Connect.

Details

Nankai Business Review International, vol. 16 no. 1
Type: Research Article
ISSN: 2040-8749

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Article
Publication date: 23 January 2024

Wang Zhang, Lizhe Fan, Yanbin Guo, Weihua Liu and Chao Ding

The purpose of this study is to establish a method for accurately extracting torch and seam features. This will improve the quality of narrow gap welding. An adaptive deflection…

130

Abstract

Purpose

The purpose of this study is to establish a method for accurately extracting torch and seam features. This will improve the quality of narrow gap welding. An adaptive deflection correction system based on passive light vision sensors was designed using the Halcon software from MVtec Germany as a platform.

Design/methodology/approach

This paper proposes an adaptive correction system for welding guns and seams divided into image calibration and feature extraction. In the image calibration method, the field of view distortion because of the position of the camera is resolved using image calibration techniques. In the feature extraction method, clear features of the weld gun and weld seam are accurately extracted after processing using algorithms such as impact filtering, subpixel (XLD), Gaussian Laplacian and sense region for the weld gun and weld seam. The gun and weld seam centers are accurately fitted using least squares. After calculating the deviation values, the error values are monitored, and error correction is achieved by programmable logic controller (PLC) control. Finally, experimental verification and analysis of the tracking errors are carried out.

Findings

The results show that the system achieves great results in dealing with camera aberrations. Weld gun features can be effectively and accurately identified. The difference between a scratch and a weld is effectively distinguished. The system accurately detects the center features of the torch and weld and controls the correction error to within 0.3mm.

Originality/value

An adaptive correction system based on a passive light vision sensor is designed which corrects the field-of-view distortion caused by the camera’s position deviation. Differences in features between scratches and welds are distinguished, and image features are effectively extracted. The final system weld error is controlled to 0.3 mm.

Details

Industrial Robot: the international journal of robotics research and application, vol. 51 no. 3
Type: Research Article
ISSN: 0143-991X

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Article
Publication date: 25 September 2019

Muna Raypah, Mutharasu Devarajan and Shahrom Mahmud

The presence of voids in the solder layer has been considered as one of the main issues causing reliability problems in optoelectronic devices. Voids can be created due to trapped…

167

Abstract

Purpose

The presence of voids in the solder layer has been considered as one of the main issues causing reliability problems in optoelectronic devices. Voids can be created due to trapped gas, clean-up agent residues (fluxes), poor wettability at interface or shortcoming of the reflow process. The voids hinder the heat conduction path and subsequently, the thermal resistance will increase. The purpose of this paper is to investigate the influence of lead-free water-washable Sn96.5Ag3.0Cu0.5 (SAC305) solder paste (SP) voids on the thermal and optical performance of white high-power (HP) surface-mounted device (SMD) light-emitting diode (LED).

Design/methodology/approach

Five LEDs are mounted on five SinkPAD substrates by using the SP. The SMT stencil printing is used to control the thickness of the SP and reflow oven for the soldering process. The fraction of voids in the SP layer is calculated using the X-ray machine software. The thermal parameters of the LEDs with different voids fraction and configuration are measured using a thermal transient tester (T3Ster) system. In addition, the optical characterizations of the LEDs are determined by the thermal and radiometric characterization of power LEDs (TeraLED) and the electroluminescence by using the spectrometer.

Findings

The results showed that the thermal performance and temperature distribution are improved for the LED with lower voids fraction and good filling state of soldering. In addition, luminous flux, efficacy and color shift of the LEDs with different fraction and configurations of voids on the SP layer are compared and discussed. It is found that the color shift of LED1 of low voids fraction and higher thickness are less than other LEDs.

Originality/value

The paper provides valuable information about the effect of water-washable SAC305 SP voids fraction and filling state of solder on the thermal and optical performance of ThinGaN HP SMD LED. A comprehensive overview of the outcomes is not available in the literature. It was shown experimentally that the voids fraction, height and configuration of the SP layer could strongly influence the heat dissipation efficiency and thermal resistance. This study can help in heat diffusion investigation and failure analysis of HP SMD LEDs.

Details

Soldering & Surface Mount Technology, vol. 32 no. 2
Type: Research Article
ISSN: 0954-0911

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