IEIS2019

Under the background of the national planning strategy such as “One Belt, One Road” and “Thirteenth Five-Year Plan”, China introduced PPP as a financing model and used private capital to ease the government’s financial pressure on transportation infrastructure construction. With the support of national supply-side reform and mixed-ownership economy, PPP has already caused a wave of application in China. However, due to the particularity of the PPP model, it is possible to make appropriate arrangements for core stakeholders when establishing a cooperation contract. The distribution of income largely affects the success of the project. Based on the feasibility of the argument, this paper constructs the income distribution model and mechanism, and designs and corrects the PPP model stakeholder the income distribution model based on the Shapley value method. The X urban rail transit project is taken as an example of empirical research. Analyze the influencing factors and correct the income distribution model.

The specialized town is one of the characteristic industrial organization forms, the representative form of China’s industrial clusters and the main component of the regional economy in Guangdong province. They are all in traditional manufacturing industries, which causes the significant competition among the specialized towns. This paper adopts the complex network method and adds the geographical distance into the general market model, aiming to optimize the measure of competition. It analyzes the network structures and the influence on the innovation performance of specialized towns. The research results show that the competition network of specialized towns in Guangdong has a small world effect; whether it is alone or in combination with the intensity of inward points, there is a significant inverted U-shaped relationship between the intensity of the outward point and the innovation performance.

Although the rapid development of the network technique and the Internet economy, China’s Internet industry has exposed many problems such as imbalanced trend among China’s provinces. In this paper, we employ the concept and method of improved K-means algorithm to establish a clustering analysis model of Internet development level in various provinces of China based on the imbalance of Internet popularization in China’s provinces, and analyze the shortcomings and causes of Internet development in each province in detail. Finally, we recommend the corresponding policy suggestions in view of addressing issues mentioned.

Financial agglomeration affects regional economic development by stimulating innovation to generate spillover effects. At the same time, the boundaries of the spillover process cannot be ignored because of the contractual and intensive nature of the financial industry itself. Based on the consideration of the spillover effect of agglomeration and the boundary effect of diffusion, this paper studies the double threshold of the impact of financial agglomeration on regional economic development in order to improve the related research of regional economy. Firstly, the paper uses the factor analysis method to measure the level of financial agglomeration. Then, the paper uses the panel data of 30 provinces from 2001 to 2015 to test the double threshold of financial agglomeration affecting regional economic development. It is concluded that with the increase of the level of financial agglomeration, it has played a leading role in promoting regional economic development, and the role of promotion has gradually increased. Therefore, maintaining a certain level of financial agglomeration is conducive to the stable development of the regional economy.

At present, the entity economy in our country is weak, the investment yield declines and the real economy internal risks escalating problems show that in our country’s current capital in the economic operation “to take off the real to virtual” trend. With the deepening of the process of “de-reality” of funds, the financing cost in China’s real economy will gradually increase, which will cause the difficulty of financing and the risk of financial system are growing increasingly, and the difficulty of transformation and upgrading of the real economy will increase. This paper analyses that structural monetary policy changes market expectations through signaling, and verifies the impact of structural monetary policy on real economy through event studies. Finally, we put forward the following suggestions: firstly, we should differentiate the interest rate and quota of monetary policy according to the counterparty; secondly, we should improve the information disclosure of central bank when implementing monetary policy; finally, when implementing monetary policy, we should first adjust the open market operation, then the deposit reserve ratio, and finally the interest rate adjustment in the process.

In recent years, the phenomenon of industrial convergence (IC) has emerged in many fields. By summarizing the previous scholars’ studies on IC, this paper deduces the mechanism of action between economic development and IC by constructing a theoretical framework, and extracts three main factors affecting IC: Technology driving, Product innovation and Policy support. Furtherly, this paper takes high-speed-rail express delivery (HED) business as the research object, empirically analyzes the convergence process between high-speed-rail transportation industry (HTI) and express delivery industry (EDI), conducts a quantitative analysis of the relationship between various factors, and demonstrates the long-term stable mutual promotion between two industries. This paper concludes that the rapid development of China’s express industry is not only inseparable from the promotion of industrial integration, but also accelerate the process of industrial convergence.

Based on conservation of resource (COR) theory, we explore the influence of empowering leadership on service industry employees’ job crafting. Multi-level data were collected employees nested within work teams in the service industry. Our findings suggest that empowering leadership is positively associated with job crafting via psychological availability. Moreover, perceived organization support significantly moderated the positive relationship between empowering leadership and job crafting. The present study reveals the cross-level effects of empowering leadership and provides practical suggestions to foster employees’ job crafting in organizations.

This paper studies the policy regulation of the pharmaceutical industry in China and the United States. The main points of this paper is analyzing the formative factors of these regulation modes. There is multiple similarity when the two countries were founded. Then, as time goes on and they have embarked on different paths of development and established completely different regulation model. This paper illuminates the formation reasons about these regulation modes by analyzing the historical and social background of two countries.

Higher information disclosure quality of enterprises plays an important role in promoting capital marketization reform and optimizing financial service system. However, the research on how government-enterprise relationship and social responsibility affect the behavior choice of information disclosure is not sufficient, especially whether the fulfillment of corporate social responsibility can exert moderating effect on outward information disclosure quality under the existing social relations is still unknown. This paper takes the A-share mainboard listed companies of China’s Shenzhen stock exchange from 2011 to 2016 as samples, and studies the relationship between political connection, corporate social responsibility and information disclosure quality based on the unique property rights differences of Chinese enterprises. It is found that, political connection is negatively related to information disclosure quality, while corporate social responsibility is positively related to information disclosure quality. The better the enterprise’s social responsibility performance, the weaker the negative correlation between political connection and information disclosure quality. And further analysis shows that compared with state-owned enterprises, non-state-owned enterprises have a stronger negative correlation between political connection and information disclosure quality. Social responsibility performance of both types of enterprises can improve information disclosure quality. Meanwhile, social responsibility performance can also effectively suppress the negative impact of political connection on information disclosure quality.

The development and growth of human beings are highly depended on energy consumption. Nowadays, the sustainable development of human beings calls for precisely speculation of energy prices and efficiency. However, the traditional methods of measuring energy price and efficiency, for instance, the EROI (energy return on investment) model unable to define system boundaries and to calculate labor and physical costs. Thus, these methods may ignore as much as 50% of input energy consumption. Energy efficiency could be calculated by the ratio of average energy input cost to the average useable energy output cost while energy price could be measured by the ratio of the monetary input to the output. The principle above could be viewed as a check for energy return on investment as well as an elimination for a redundant process analysis. The results give us a chance to innovate traditional energy efficiency model by social and environmental factors which could be depicted through monetary terms.

In recent years, in some large cities, overburdened car ownership has brought serious congestion to urban roads Considering the influence of material interests of both electric car rental companies and customers and the location of the routing, Generally, the solution to the bi-level programming model is to solve the lower-level programming by a given upper-level programming variable, find the concrete form of the response function, and then substitute it back into the upper layer. Of course, this is more difficult. In this paper, a heuristic algorithm is proposed to solve this problem by the special form in the lower model a bi-level programming model to describe the city electric car rental point layout optimization problem, and solve the model. Finally, a numerical example is given to validate the model. The results show that the method is effective and feasible.

Innovation is the key to the development of Chinese New Economy, and the improvement of innovation ability needs strong financial support. TMT industry, an important part of China’s strategic emerging industries, has contributed the largest technological advancement in the past few decades with the help of government. Based on this, this paper selects panel data of 100 listed companies in A-share TMT industry from 2013 to 2017 as samples to empirically test the impact of sci-tech finance investment on the improvement of innovation level. The main conclusions are as follows: Firstly, enterprises’ innovation investment and venture capital have a significant positive effect on innovation of TMT industry, while government financial expenditure on science and technology and commercial bank credit have no significant impact on innovation of TMT industry, sometimes government support even shows restraint. Secondly, there are significant regional differences in the impact of sci-tech finance investment on innovation performance of TMT industry. At the end of this paper, some reasonable suggestions for the result are offered.

Employee stock ownership as an incentive method has an important impact on business performance and value. This paper uses the panel data of listed companies over the period 2015 to 2017 to test the impacts of employee stock ownership on corporate performance and corporate value. It is found that the implementation of employee stock ownership by listed companies can significantly improve corporate performance and corporate value. The high-tech enterprises and non-high-tech enterprises are grouped and tested as the standard. It is found that the effects of employee shareholding implementation are significantly different. The effects of high-tech enterprises in implementing employee stock ownership are better than that of non-high-tech enterprises.

Cultural risk is one of the major risks of Chinese oil companies’ overseas merger and acquisition. The root cause of cultural risk lies in cultural differences. Differences in the political factors, laws and regulations, religions, business environment, business rules, and corporate culture of host countries will inevitably lead to the emergence of ethnic cultural risks, commercial cultural risks, and corporate culture during overseas merger and acquisition. Due to the different characteristics of state-owned oil companies and private oil companies, the main types of cultural risks faced in overseas mergers and acquisitions are also different. “Western model”, “Central Asian model” and “Middle East model” are the most common overseas merger and acquisition models of oil companies. Using SWOT risk analysis method, the impact of various cultural risks and the appropriate strategies can be analyzed and developed. The degree of cultural risk in different modes can be assessed to provide reliable strategies or overseas merger and acquisition of oil companies based on the analytic hierarchy process (AHP).

This paper first analyzes the theory and explains the two concepts of corporate governance and auditing major misstatement risks, and expounds their respective connotations and characteristics. Secondly, the theoretical basis between them is mentioned and the connection between the two is formed. The empirical tests were carried out from two perspectives. The first is the correlation between corporate governance status and the risk of major misstatement of auditing. The second is the auditor’s multiple responses to different corporate governance levels. Taking the shareholding ratio of the first largest shareholder, the size of the board of directors, the dual roles of the chairman and the general manager, and the size of the board of supervisors as the substitute variables for corporate governance; whether the company is punished by the CSRC to indicate the risk of material misstatement, and the change in audit fees Representing the auditor’s response to changes in behavior. Finally, the empirical results were discussed and the results that were inconsistent with the expected assumptions were analyzed. Suggestions on optimizing the shareholding structure, taking into account the size and independence of the board of directors, and strengthening the effectiveness of the board of supervisors are given in the current situation in China.

Through the establishment of specific indicators of Hangzhou’s human settlements environment and economic development from 2000 to 2016, this paper explores the contribution degree of each principal component to the indicators and the changes of the comprehensive index in 17 years. Then, in order to analyze the specific relationship between the two development, the VAR model of the two is constructed. Through co-integration analysis, Granger causality analysis and regression analysis, the deep internal relationship between Hangzhou’s human settlements environment and economic development is finally obtained. The results show that the economic development of Hangzhou is not the reason for the improvement of the environment of the human settlements, and the improvement of environment of the human settlements can promote the economic development, and there is a time lag. In view of this causality, it is suggested that attention to the environment of the human settlements should not be neglected while the economy is developing rapidly. Attention to the improvement of the human settlements environment conditions can play a long-term role in promoting economic development.

This paper analyzes the development of highway transportation in Inner Mongolia, comprehensively analyzes the correlation between highway transportation in Inner Mongolia and regional economic system by using research methods such as transportation economic elasticity analysis and gray correlation analysis, establishes a quantitative analysis model between economic development indicators and highway transportation development indicators in Inner Mongolia, points out the problems existing in the development of highway transportation in Inner Mongolia, and puts forward relevant policy suggestions.

This paper concentrates on the model, factorization machine based neural network (NN) with stochastic time effective function (FM-ST-NN), to predict the WTI crude oil price trend. The factorization machine technology makes the proposed model capable of grasping the interactive factorization among inputs. And the stochastic time effective function shows the effect of historical data’s time on weights which reflects the impact on the predictive model. The forecasting results are compared with other methods including neural network and factorization machine based neural network. And the predicting performance are evaluated through the Mean Absolute Error (MAE), Root Mean Square Error (RMSE) and Mean Absolute Percentage Error (MAPE) accuracy measures.

Under the background of the strategy of “Internet plus” and “rural revitalization”, the rural residents in Shandong Province still focus on surviving consumption, and the proportion of developmental and enjoyable consumption is not high. The consumption structure in rural areas is in urgent need of transformation and upgrading. Based on the data of 17 cities in Shandong province from 2007–2017, this paper constructed the panel data model, and then used F test, Housman test and other methods to study the impact of the Internet on the consumption structure of rural residents in Shandong province from both qualitative and quantitative aspects. The results show that the three indicators of Internet broadband penetration rate, smartphone penetration rate and per capita net income have significant positive correlation with the consumption structure of rural residents in Shandong province, and their promotion effect on the upgrade of rural residents’ consumption structure increases in turn. Finally, based on the research data and conclusions, this paper proposes countermeasures and suggestions to promote the transformation and upgrading of consumption structure in rural areas of Shandong province.

China’s board of directors includes the audit committee and other committees. Existing researches focus on the governance role of the audit committee on internal control but ignore the research on other committees and internal control. This paper takes the listed companies with material internal control weakness in the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2013–2016 as samples. This paper divides the board of directors into two levels: the audit committee and other committees. We find that in the internal governance of the company, the audit committee is conducive to promoting the remediation of internal control weaknesses, and other committees suppress the remediation of internal control weaknesses. This paper belongs to the same series with the author’s graduation thesis, but the research level is different.

As the most populous country in the world, China faces significant food pressures. Therefore, the issue of food security has become an important issue that cannot be evaded on the road of China’s great revival. Food security is a complicated condition requiring a holistic approach to all forms of malnutrition, the productivity and incomes of small-scale food producers, resilience of food production systems and the sustainable use of biodiversity and genetic resources. The purpose of this paper is to identify how the price fluctuation can influence the situation of food security in China. In the quantitative analysis part, Entropy weight method is used to analyze coefficient of the price and food security. We found the price factor is not the most important one which influences food security while the other two factors: net income per acre, national fiscal expenditure on agriculture are even more important. Based on the analysis, we give the following policy recommendations: (1) taking steps to improve the agricultural production capacity, (2) developing the ecological agriculture, (3) enlarging the agriculture insurance to make sure protect the profit of rural farmers, (4) relying on the “One Belt and One Road” strategy to further participate in global food and grain security, (5) speeding up the formulation of a food security law.

This paper clarified the concept of crowd logistics risk control and explored its structure in Chinese context. Then, this study designed its primary scale by in-depth interviews and conducted a survey on a sample of crowd drivers who engaged in crowd logistics. Based on the results from Exploratory Factor Analysis and Confirmatory Factor Analysis, this paper defined crowd logistics risk control as a three-dimension construct including “monitor”, “motivation” and “online payment”. Further, this paper validated the scale in Chinese context by further analysis of reliability and construct validity. An effective instrument for future empirical research in Chinese context is provided by the scale we developed in this study.

Under the background of globalization, developing the circulation of cultural products has become an important channel to enhance the competitiveness of cultural industry for a country. The cultural industrial competitiveness is the important part of cultural industry security, therefore, the study on the influence of cultural product circulation on the cultural industry security, has great theoretical and practical significance. Based on the theory of industrial security, to build the evaluation system of cultural industry security, and analyze the relationship between cultural products circulation and cultural industry security using the factor analysis and linear regression analysis, the results show that there is a positive correlation.

When Chinese state-owned geological exploration units are undergoing classification reform, the key to success is to identify the right direction of reform through proper categorization. While such reform is often affected by random application and administrative order, the development capability of geological exploration units lacks sufficient scientific evaluation, which reduces the accuracy of classification reform. As the pure competitiveness theory fails to accurately evaluate the development capability of geological exploration units, this work constructs different development capability evaluation index systems for three types of state-owned geological exploration units, and uses factor analysis to calculate the development capability of sixty state-owned geological exploration units. The evaluation index system of development capability constructed in this paper is specially set for different types of geological exploration units with different natures, which provides a new evaluation method for the classification reform of state-owned geological exploration units.

By analyzing the matching relationship between manufacturing enterprise service innovation strategy and innovation capability, this paper constructs the evaluation index system and measurement method of manufacturing enterprise’s service innovation strategy intensity and innovation capability level. And using the concept of space geometry, the matching degree measurement model of manufacturing enterprise service innovation strategy and innovation ability is constructed. Using the case study method, the matching degree of the manufacturing enterprise service innovation strategy and innovation ability of the case study was measured.

The research main objective is to examine the reverse causal relationship between dividend policy and foreign investment in Pakistan. This study provides a unique contribution in fulfilling the limitation of past studies in examining how and why dividend policy as a factor influences the foreign investment in Pakistan. The study used a generalized method of moment (GMM) estimation techniques on dynamic panel data models. This study collects the data from 84 nonfinancial firms listed on Pakistan stock exchange for 12 years from 2006–2017 with 1008 number of observations. The regression result reveals the positive impact of foreign investment on dividend policy. It shows that companies having high foreign investors are forced to increase dividend payout. In reverse, dividend policy also positively influences the foreign investment. Firms paying high dividends are capable to attract and increase foreign investments. Agency theory and signaling theory supports the findings of this study.

In recent years, extreme risk of agricultural products price fluctuation has become the hotspot of social concern, the key point of management decision-making and the difficulty of theoretical studies. As an innovative financial instrument, catastrophe bonds provide a new path for catastrophe risk management. Therefore, this paper aims to provide the methodology of pricing catastrophe bond of agricultural products price fluctuation, which can be shown as the steps of constructing time series of agricultural products price fluctuation, fitting extreme risk distribution using POT model from extreme value theory, and calculating a one-year zero-interest catastrophe bond under different parameter assumptions. This paper selects Fuji apple as an example to make empirical analysis. This study is a profitable attempt to construct the mechanism of catastrophic risk decentralization agricultural products price fluctuation.

This paper first analyzes the mechanism and path between the reverse spillover effect and structural upgrades. It is believed that OFDI (Outward Foreign Direct Investment) mainly acquires technology spillovers through R&D (Research and Development) cost sharing, factor R&D absorption and reverse technology transfer, and promotes industrial structure upgrading through four channels: labor mobility, supply and demand structure, technical structure and technological innovation. Then, this paper empirically analyzes this process through specific data and models, and studies the impact of absorptive capacity on the spillover effect of OFDI reverse technology. The results show that the technological progress obtained through OFDI is closely related to the upgrading of industrial structure. Human resources capital stocks, economic development levels, technological levels, infrastructure levels and financial development levels can significantly contribute to the upgrading of industrial structure process. Therefore, in the process of industrial transformation and upgrading, China should increase its foreign investment, optimize investment types, investment structure and investment location, and continuously improve human capital investment, and development investment, so as to better promote the upgrading of industrial structure through technology spillovers.

Analyzing the determinants of acquisition premium with objective to maximize the shareholder’s wealth. It is also necessary to study the pre and post-acquisition firm factors under the target of Pakistani and Chinese equity market. This paper uses the empirical model to test the determinants of acquisition premium and evaluate the impact of acquisition on firm factors in emerging market of Pakistan and China. In order to comply with the rules of optimal acquisition premium and deciding acquisition for sustainability of firms this paper applies the ordinary least square and also uses the generalize method of moments technique to estimate the firm factors between pre and post-acquisition. Therefore the objective of this paper is to know what are determining factors of acquisition premium and how acquisition effect firm factors in Pakistani and Chinese equity market.

The influence of marine economy in the economic and society of coastal countries is becoming more and more significant, and the changes in the marine industrial structure will bring a series of impacts on the social and economic development. By analyzing the relationship between marine industrial structure and industrial efficiency, the feedback model of industrial efficiency—industrial structure is established. According to the evaluation method of marine industry efficiency and the DEA model of super efficiency, the evaluation index of input and output efficiency of marine industry is screened, and the change process of marine industry efficiency in the 2001–2017 years is calculated and combined with industrial knot. The evolution process of marine industry is analyzed, and the changing path of industrial efficiency in the evolution of marine industrial structure is expounded. It is found that during the last 20 years, the evolution process of marine industrial structure can be divided into three main stages, namely, the extensive development period of the marine industry, the period of structural adjustment, the period of the development of the new kinetic energy of the marine industry, with the significant difference in the fluctuation of the marine productivity in the different periods of the evolution of the industrial structure. Sign. Finally, according to the development trend of marine industry, we put forward suggestions for the development of marine industry.

The problem of financial asset bubble has always been the focus of the theory and the industry, and the capital market is one of the important environments. Therefore, analyzing the causes of the stock price bubble and demonstrating the formation mechanism of the stock price bubble plays an important role in preventing financial risks. This paper simulates the artificial stock market including the fundamental investors, the technical investors, the emotional investors and the passive investors, and analyzes the stock price trend, the rate of return, the position of the investors and the rate of return of the account. The results show that the artificial stock market established in this paper can accurately simulate the actual situation of the market, and the results are nearly the same as the empirical research results of the Shanghai Stock Index. When the number of passive investors in the market is small, or the number of fundamental investors is small, or the number of emotional investors is large, stock market bubbles tend to occur and stock price deviates from its value.

As globalization progresses, the global economy becomes closely related and more difficult to predict. Early Warning System (EWS) is a major tool to monitor and forecast economic risk. In order to improve the timeliness of EWS, indicators obtained through big data analysis are increasingly utilized. However, the uncertainties about the extracted indicators are also augmented when the big data sources are not directly related to concerned economic problem. In this paper, our aim is to build an early warning systems (EWS) with multi-dimensional indicators, combined with genetic algorithm (GA) and analytic hierarchy process (AHP) to monitor the operation of the system in real-time. In order to handle the uncertainties, we use interval-valued variables and propose dominant criteria for different decision makers to meet their preferences.

Supply chain is an important support for value creation, and product is the carrier for realizing the value. The coordination between product architecture design and supply chain management is the premise for enterprises to cope with rapid changes and meet the market demands. The view that product architecture and supply chain interact with each other has been confirmed by many scholars, but the influence mechanism between the two is still unclear. We collected data from 221 companies and drew the following conclusions through analysis. (1) product architecture has a significant impact on supply chain performance. The modularity of product architecture, the degree of standardization of interface, and the reuse of components have a significant positive impact on supply chain performance. (2) supply chain centralization can enhance the effect of product architecture on supply chain performance. When supply chain concentration is high, product architecture is easier to play its advantages, thereby improving supply chain performance.

This paper, based on Social Learning Theory and Job Demands-Resources Model, discusses the influence of mentoring relationship (including vocational mentoring and social support) on the engagement (including job engagement and organization engagement) of skilled talent, from the perspective of interpersonal relationship and psychology. 151 skilled talents were selected as the research objects for investigation and analysis. The results show that the impact of mentoring relationship on engagement is positive and significant, in which the vocational mentoring dimension has a slightly higher impact on the skill worker’s job engagement than the social support dimension; social support dimension has a slightly higher impact on organization engagement. The research results enrich the mechanism of engagement, and put forward feasible suggestions for enterprises to improve the engagement of skilled talents.

Self-organization mechanism can inspire the reconstruction process of logistics industry system. This paper deems that the systemic value is the order parameter of self-organization process for logistics industry system. Based on Dissipative Structure Theory, Synergetics and market theory, a phase transition model is built and evolution equations are constructed. Then, the order parameter equation is deduced by an adiabatic elimination. The order parameter equation reveals that the system value is the unique order parameter of logistics industry system. The result reveals that when the attenuation exponent of system value is more than zero, the system has the unique balance point; when the attenuation exponent of system value is less than zero, the system has two balance points; when the attenuation exponent of system changes from a positive value to zero, the system comes back the zero balance point more and more slowly.

In this paper, in node importance in maritime network area there is a new evaluation model has been proposed. Comparing with other analogous methods, this evaluation method reflects a more comprehensive evaluation result. The model of this method is based on two different way about the evaluation factors which the node’s strength and the influence of its neighbor nodes. Then, in 2016, we investigated Lloyd’s List Intelligence’s case of the world’s top 100 ports through container throughput. We find that the distribution of node strength follows power law distribution and the distribution of node degree follows exponential distribution. At last, the parameters of the model are determined by the case study.

Disagreement about expected inflation is an emerging phenomenon in Finance and Economics. This real effect side of the economy and real consumption growth volatility. This paper contributes by providing its impact on stock market volatility, unemployment rate and financial soundness. It is cross-sectional study, due to unavailability of data from all over the world data is taken only from 84 countries for the year 2015. This study provides evidence that disagreement about expected inflation significantly affects these factors. The findings provide implication for policy makers and forecasters. This study contributes that uncertainty and volatility can be diminished by improving survey forecasting and reducing disagreement about expected inflation among survey respondents and an open future avenue for researchers.

Using PPP mode to build urban rail transit projects can solve the government’s financial problems and mobilize social capital at the same time, which can achieve a win-win situation of public and private. Practice shows that reasonable risk management is the key to the successful PPP mode. The paper focuses on the risk management of PPP mode in urban rail transit projects in the following aspects: risk identification, risk assessment, risk sharing and risk response strategies and actions in the whole process of investment and financing of the project which means the whole process of the project. First, the risk checklist method and the work breakdown structure method are used to get the risk list of China’s urban rail transit PPP project. Secondly, the questionnaire is distributed and the expert scoring method is used to sort the occurrence probability and damage degree of the risk items in the list of risk. Then, Pareto’s law is used to assess the key risk factors, important risk factors, secondary risk factors. Thirdly, on the basis of existing research, the principle of risk sharing is clarified and various risk subjects in PPP projects of urban rail transit are determined. For the risk which needs to commit jointly, to use AHP method to determine the specific share ratio, and make Beijing Metro Line 4 “force majeure risk” as an example. Finally, put forward the strategies and measures to deal with all kinds of risks. This study has practical value in providing guidance for the practical work of risk management of urban rail transit PPP project.

As an important public infrastructure, Urban Rail Transit has many unfavorable factors such as large capital demand, long construction period, long investment recovery period, etc. The introduction of Public-Private-Partner (PPP) model in the construction and operation process will help offset construction costs. Inadequacies, improve the operation and management level and service quality. The PPP model is regarded as an important means of promoting sustainable economic development under the “new normal economy” and has been vigorously promoted by the government in recent years. However, because it cannot rely entirely on subjective judgments and choices for a certain procurement model, the concept of “Value for Money” is introduced to provide a basis for pre-purchase decisions for Urban Rail Transit PPP projects. The purpose of this paper is to construct a model of Value-for-Money for Urban Rail Transit PPP projects, combine relevant theoretical research, and construct a value evaluation system for Urban Rail Transit PPP items based on the main characteristics of Urban Rail Transit PPP projects.

Based on the data of A-share listed companies in China from 2012 to 2017, this paper empirically examines the impact of corporate social responsibility on under-investment. The results show that, with the improvement of the corporate social responsibility, the degree of under-investment has been significantly reduced. Further studies show that analyst following play a partial mediating role in the process of corporate social responsibility affecting under-investment. The above conclusions confirm that the corporate social responsibility can enhance the investment efficiency while enriching the theory of information intermediation among analysts. The conclusions of this paper can not only motivate corporates to positively shoulder social responsibility and make relevant disclosure, but also encourage government to promote the development of the analyst industry.

This paper investigates the impact of different types of mergers and acquisitions on company M&A performance. An empirical study is conducted based on the sample data from Chinese listed companies in both 2013–2014. Our research suggests that, on the whole, M&A activity can improve corporate performance, different types of mergers and acquisitions truly have different effects on M&A performance in different periods after M&A, and there is a positive correlation between horizontal mergers and long-term firm performance. Our research findings have implications for companies that choose their M&A types.

The difficulty in financing small and medium-sized energy service company is one of the obstacles to the smooth development of energy performance contract. Based on the characteristics of energy performance contract, this paper introduces the network joint guarantee loan, demonstrates the advantages of this mode in the field of energy performance contract in China at the present stage, and analyzes the income distribution of energy service companies under the network joint guarantee loan through the modified Shapley value algorithm. It is shown that this mode not only improves the income of energy service companies, but also transforms the contribution and risk taken by companies in their cooperation into income. Therefore, this financing mode is one of the favorable modes for energy service companies to choose.

Railway freight demand is a part of the railway freight market, so the understanding of this demand is the basis for the market-oriented reform of railway freight prices. The price elasticity of railway freight demand is one of the important tools to understand this demand. Therefore, based on a more reasonable freight rate calculation method and commodity demand indicator, this paper estimates the price elasticity of railway freight demand for some goods according to the commodities category of railway freight rate rules. Estimates show that the freight demand for coal and coke is inelastic while the non-metallic ore, cement and grain is elastic, which is mainly caused by the difference in transportation distance. Based on the estimated elasticity, this paper provides suggestions for the market-oriented reform of railway freight rate.

This paper takes the 2008–2015 China-Shenzhen A-share private listed company as the research object, and analyzes the impact of the ultimate controlling power, cash flow rights and the separation degree of the two on the tax avoidance strategies empirically. The study finds that the ultimate controlling of private enterprises is positively correlated with the tax avoidance strategy style. There is no obvious correlation between cash flow rights and tax avoidance strategies style, but the degree of separation between ultimate control rights and cash flow rights is positively related to corporate tax avoidance strategy style. It means that the more dramatical the separation of ultimate controlling right and cash flow rights is, the more radical the company’s tax avoidance strategies style will be.

In order to analyze the mechanism of urbanization on the real estate market in detail, this paper considers the regional nature of the real estate market, constructs a dual logarithmic demand function, analyzes the impact of multidimensional urbanization on the real estate demand. The results show that economic, population and spatial urbanization can all increase the demand for real estate, but its impact mode and degree are different: the incremental effect of population urbanization and the income effect of economic urbanization have the greatest contribution to real estate demand. Apart from the impact of population factors, economic urbanization, especially the increase of per capita income level, is the main driving force for the increase of per capita real estate demand. Spatial urbanization embodied by the agglomeration of urban resources and improvement of infrastructure has a positive effect on real estate demand, and investment in fixed assets other than real estate development has the greatest effect.

Based on 187 safety drug use accidents recorded by 23 laying hen farming enterprises in China, the factors causing the accidents were systematically analyzed, and the human factors analysis and classification system (HFACS) suitable for laying hen farming industry was constructed. By using grey correlation analysis method, the factors causing drug use accidents were analyzed, and the importance of the factors causing drug use accidents in laying hens was determined by calculating the correlation degree between the factors.

Operating room (OR) is an important department in a hospital and the scheduling of surgeries in ORs is a challenging combinatorial optimization problem. In this paper, we address a problem of multiple resources allocation of ORs, and propose a surgery scheduling scheme of OR units. To solve this problem, a multi-phase and integrated multi-objective linear programming model is proposed. The first phase of the proposed model is a resource allocation model, which mainly focuses on the allocation of the ORs for each surgical specialty (SS). Based on the results of the first phase, the second phase is the cyclic Master Surgical Schedule (MSS) model, which aims to schedule the surgeries in each SS. The proposed models are solved by goal programming method, Analytic Hierarchy Process and ILOG CPLEX. Having compared the new schedule with the original schedule in the hospital, the results show that not only the utilization of the OR, the net profit and the number of surgeries scheduled increased significantly, but also the overtime of the OR decreased.

By taking all listed companies’ mergers and acquisitions from 2007–2018 as a sample, this paper uses Harford’s method to detect merger waves in China’s capital market both at the industrial level and at the aggregate economic level. This paper also uses a Markov-switching model and intuitive method to test the robustness of these results. This study has concluded that, during the sample period, there are 1 wave at the aggregate economic level and 16 waves at the industrial level. The intensity of waves varies among industries. In addition, the clustering of industry merger waves in time leads to the occurrence of the aggregate wave to a certain extent.

Based on the data of one-percent national sample census carried by the Chinese National Bureau of Statistics (NBS) and 272 cities in China, we embark upon studying the effect and mechanism of the urban roads on the urban income gap, from the perspective of city scale and commuting costs, and further analyzing the heterogeneity of the influence from the Urban Roads on the cities. Theoretical study indicates that the positive effect of the urban roads on the urban income is smaller in the more developed or larger cities, whereas greater in those less-developed or smaller cities.

This paper uses fixed-effects SFA (Stochastic Frontier Analysis) model to measure the total-factor energy efficiency of Chinese 34 industries during the period of 1998–2015 and then investigates the influence of industrial agglomeration on energy efficiency. It is found that industrial agglomeration has a negative effect on energy efficiency but it becomes smaller. Moreover, the energy consumption structure, measured by cola share, is negatively correlated with energy efficiency, and the ownership structure, measured by SOEs (state-owned enterprises) share, is proved to be negatively affecting the energy efficiency. These results suggest that the government should guide the industrial parks to reduce energy consumption with more strict environmental regulations, as well as switch to cleaner energy and deepen the reform of SOEs in the future.

Technology hardware and equipment industry is one of the most important industries in China, which plays an important role for the development of science and economics. The ownership structure and corporate governance of enterprises in this industry can be used for reference for the reform of mixed ownership of listed companies in China. This paper chooses the mixed ownership enterprises of technology hardware and equipment industry of A-share listed companies from 2011 to 2018 as the research object. Combined with the nature of ownership, this paper empirically examines the influence of ownership structure on the performance of mixed ownership companies in this field from the degree of ownership concentration and ownership balance, and on this basis, we discuss the corresponding governance mechanism of mixed ownership companies.

Labor is an important input factor in food production process. Labor costs of food production process of China have shown a rapid increasing trend since 1995. This paper selects the period of 1995–2017 as the research sample period and adopts the threshold linear conversion method to explore the status and changing trends of China’s food security from four dimensions, food availability, food access, food utilization and food stability, in the context of labor costs rising. The research results show that among the four dimensions China has the best security status in food availability dimension, and that China has been in a secure state in food availability dimension since 2008. The security status of food stability dimension continued to fluctuate during the whole sample period and has gradually improved since 2008. Both food access dimension and food utilization dimension were in an insecure state in the sample period.

Turkey is one of many countries which have been carrying out some changes in transportation policies seeking functional infrastructure of Urban and Regional high speed rail project to attractive enough to accommodate the planned number of people in new town. This article analyzes the various impacts of new high-speed rail investment on new towns. Ankara Sivas high speed rail project has been analyzed. A Cost-Benefit Analysis method is conducted; the study was fulfilled that Ankara-Sivas high-speed Corridor has an efficient value for passengers in willing to live in new towns.

PPP has become one of the important ways to finance high-speed rail projects, and banks will play an important role in this regard. Based on the role of banks in high-speed rail PPP projects and risk factors in the project process, this paper constructs the risk allocation process of high-speed rail PPP projects from the perspective of banks. Finally, a two-stage game model with incomplete information is constructed, and the optimal risk-bearing ratio is obtained.

This paper takes the influencing factors of real estate’s sustainable development as the research object, by selecting 8 indicators from social conditions, economic conditions and environmental conditions to construct a binary relationship diagram between indicators. Based on the systematic review of relevant literature and theoretical analysis, the Interpretative Structural Modeling (ISM) is used to explore the hierarchical logical relationship between the influencing factors, as well as the influence path and influence degree of each influencing factor are. The results show that the influencing factors are divided into three sub-levels: the surface layer (direct impact layer), the intermediate layer (indirect impact layer) and the deep layer (basic layer). The surface layer is the economic benefits of the real estate industry, the intermediate layer is the market factor, and the deep layer refers to the resource, population and policies. These have further clarified the influencing mechanism at all levels to promote the sustainable development of the real estate industry. Based on the results of the hierarchical division and the influencing mechanism, suggestions for promoting the sustainable development of the real estate industry are put forward.

In this article, nine influence factors of enterprise transformation are identified and analyzed. With the development of enterprise transformation activities, the nine factors become either the enablers or the obstacles. To explain the reason for choosing these nine factors, exhaustive literature review is done. With the help of expert opinions, influence factors are determined. ISM modeling is used to arrange these factors in order of priority. Result analysis shows that the influence factors for transformation practices can be divided into three categories: surface direct factors, middle dynamic factors and deep guiding factors. Main factors influencing enterprise transformation vary in different environments. The study shows that enterprise leadership group must have clear overview of the market environment and the industry environment, contrive definite intent and path, and guide to success.