As prior researchers have suggested,a firm’s success in an international market depends on how well its strategy fits the nonmarket environment,such as formal institutions.This paper examines the determinants of form...As prior researchers have suggested,a firm’s success in an international market depends on how well its strategy fits the nonmarket environment,such as formal institutions.This paper examines the determinants of formal institutions around new areas of economic activities.Specifically,we propose a framework for understanding how the quality of formal institutions in promoting entrepreneurship drives the focus of such institutions concerning initial coin offering(ICO),which is emerging as a popular fundraising method.The paper uses inductive analysis to examine how nonmarket factors—such as a jurisdiction’s tax haven nature,regulators’perceptions of ICOs as threats to national or political interests,and trade and industry associations—might moderate the relationship between the quality of institutions and the focus of such institutions regarding ICOs.One of this study’s key findings is that an economy’s quality of entrepreneurship-related institutions,perceived threats to national/political interests,and tax haven nature lead to different policy orientations.Consequently,regulators assign different importance when promoting crypto-entrepreneurship and dealing with associated risks.Regulators focusing mainly on promoting crypto-ventures have taken measures to enrich the blockchain ecosystem and provided tax and non-tax incentives to attract such ventures.Regulators focusing mainly on dealing with crypto-venture risks rely on a regulatory sandbox and close regulatory monitoring of such ventures.展开更多
As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their seri...As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their serious privacy.Based on the SDN(Software Defined Network)technology,this paper proposes a novel event-based anomaly detection approach to identify misbehaviors using non-public industrial communication protocols,and this approach can be installed in SDN switches as a security software appliance in SDN-based control systems.Furthermore,aiming at the unknown protocol specification and message format,this approach first restructures the industrial communication sessions and merges the payloads from industrial communication packets.After that,the feature selection and event sequence extraction can be carried out by using the N-gram model and K-means algorithm.Based on the obtained event sequences,this approach finally trains an event-based HMM(Hidden Markov Model)to identify aberrant industrial communication behaviors.Experimental results clearly show that the proposed approach has obvious advantages of classification accuracy and detection efficiency.展开更多
Recent literature has addressed initial coin offering(ICO)projects,which are an innovative form of venture financing through cryptocurrencies using blockchain technology.Many features of ICOs remain unexplored,leaving...Recent literature has addressed initial coin offering(ICO)projects,which are an innovative form of venture financing through cryptocurrencies using blockchain technology.Many features of ICOs remain unexplored,leaving much room for additional research,including the success factors of ICO projects.We investigate the success of ICO projects,with our main purpose being to identify factors that influence a project’s outcome.Following a literature review,from which several potential variables were collected,we used a database comprising 428 ICO projects in the banking/financial sector to regress several econometric models.We confirmed the impacts of several variables and obtained particularly valuable results concerning project and campaign variables.We confirmed the importance of a well-structured and informative white-paper.The proximity to certain markets with high availability of financial and human capital is also an important determinant of the success of an ICO.We also confirm the strong dependency on cryptocurrency and the impact of cryptocurrency valuations on the success of a project.Furthermore,we confirm the importance of social media in ICO projects,as well as the importance of human capital characteristics.Our research contributes to the ICO literature by capturing most of the success factors previously identified and testing their impacts based on a large database.The current research contributes to the building of systems theory and signaling theory by adapting their frameworks to the ICO environment.Our results are also important for regulators,as ICOs are mainly unregulated and have vast future potential,and for investors,who can benefit from our analysis and use it in their due diligence.展开更多
Chalcopyrite,copper indium gallium selenide(Cu(In,Ga)Se_(2),CIGS),as semiconductor materials,have been widely used as absorbers in thin-film solar cells,offering high power conversion efficiency(PCE)and good thermal s...Chalcopyrite,copper indium gallium selenide(Cu(In,Ga)Se_(2),CIGS),as semiconductor materials,have been widely used as absorbers in thin-film solar cells,offering high power conversion efficiency(PCE)and good thermal stability[1−3].Recently,the development of non-traditional photovoltaic(PV)devices such as semitransparent.展开更多
SHORTLY after Spring Festival in mid-February, as China prepared for its WTO entry, arbitration took place between a non-public owned enterprise in Zhangjiagang, Jiangsu Province, and an American company,
A model to explain the dynamic characters of earnings management was developed based on the interactionamong several firms’ disclosure policies. Under the condition of incomplete information, each firm’s earnings ma...A model to explain the dynamic characters of earnings management was developed based on the interactionamong several firms’ disclosure policies. Under the condition of incomplete information, each firm’s earnings man-agement will be influenced by the earnings disclosure policies of other firms. It can lead to "herd behavior" of earningsmanagement. This paper studies the relationship between earnings manipulation and rights issue policy based on thedistribution of earnings after management. The results indicate that Chinese listed companies trend towards controllingROE in the narrow ranges just above 6% and 10% .Therefore, "herd behavior" exists in the earnings management.展开更多
New York Times reported on November 20 that when you browsed Anthropologie’s stores, you would feel as if you’re wandering through an artsy home, where there are sure to be closets full of eclectic outfits, bedrooms...New York Times reported on November 20 that when you browsed Anthropologie’s stores, you would feel as if you’re wandering through an artsy home, where there are sure to be closets full of eclectic outfits, bedrooms with bohemian quilts and kitchen tables with展开更多
THE non-public economy has played an important role in China’s economic reforms over the past two decades, bringing about great changes to the economy and soci-
IN order to keep to promisesmade during negotiations to jointhe WTO, as from April 1,2002, the Chinese governmentbegan implementing the revised"Catalogue of Industries for ForeignInvestment" and its appendix.
Nowadays, in data science, supervised learning algorithms are frequently used to perform text classification. However, African textual data, in general, have been studied very little using these methods. This article ...Nowadays, in data science, supervised learning algorithms are frequently used to perform text classification. However, African textual data, in general, have been studied very little using these methods. This article notes the particularity of the data and measures the level of precision of predictions of naive Bayes algorithms, decision tree, and SVM (Support Vector Machine) on a corpus of computer jobs taken on the internet. This is due to the data imbalance problem in machine learning. However, this problem essentially focuses on the distribution of the number of documents in each class or subclass. Here, we delve deeper into the problem to the word count distribution in a set of documents. The results are compared with those obtained on a set of French IT offers. It appears that the precision of the classification varies between 88% and 90% for French offers against 67%, at most, for Cameroonian offers. The contribution of this study is twofold. Indeed, it clearly shows that, in a similar job category, job offers on the internet in Cameroon are more unstructured compared to those available in France, for example. Moreover, it makes it possible to emit a strong hypothesis according to which sets of texts having a symmetrical distribution of the number of words obtain better results with supervised learning algorithms.展开更多
CT:What are the positive effects of the lifting restrictions on international flights on this exhibition?Charles Beauduin:As our exhibitors and visitors come from more than 100 countries,the lifting of travel restrict...CT:What are the positive effects of the lifting restrictions on international flights on this exhibition?Charles Beauduin:As our exhibitors and visitors come from more than 100 countries,the lifting of travel restrictions by governments around the world is good news.International airlines are adding more flights and this helps make it easier for participants to travel to our exhibition in Milan.展开更多
文摘As prior researchers have suggested,a firm’s success in an international market depends on how well its strategy fits the nonmarket environment,such as formal institutions.This paper examines the determinants of formal institutions around new areas of economic activities.Specifically,we propose a framework for understanding how the quality of formal institutions in promoting entrepreneurship drives the focus of such institutions concerning initial coin offering(ICO),which is emerging as a popular fundraising method.The paper uses inductive analysis to examine how nonmarket factors—such as a jurisdiction’s tax haven nature,regulators’perceptions of ICOs as threats to national or political interests,and trade and industry associations—might moderate the relationship between the quality of institutions and the focus of such institutions regarding ICOs.One of this study’s key findings is that an economy’s quality of entrepreneurship-related institutions,perceived threats to national/political interests,and tax haven nature lead to different policy orientations.Consequently,regulators assign different importance when promoting crypto-entrepreneurship and dealing with associated risks.Regulators focusing mainly on promoting crypto-ventures have taken measures to enrich the blockchain ecosystem and provided tax and non-tax incentives to attract such ventures.Regulators focusing mainly on dealing with crypto-venture risks rely on a regulatory sandbox and close regulatory monitoring of such ventures.
基金This work is supported by the Hainan Provincial Natural Science Foundation of China(618QN219)the National Natural Science Foundation of China(Grant No.61501447)the General Project of Scientific Research of Liaoning Provincial Department of Education(LYB201616).
文摘As the main communication mediums in industrial control networks,industrial communication protocols are always vulnerable to extreme exploitations,and it is very difficult to take protective measures due to their serious privacy.Based on the SDN(Software Defined Network)technology,this paper proposes a novel event-based anomaly detection approach to identify misbehaviors using non-public industrial communication protocols,and this approach can be installed in SDN switches as a security software appliance in SDN-based control systems.Furthermore,aiming at the unknown protocol specification and message format,this approach first restructures the industrial communication sessions and merges the payloads from industrial communication packets.After that,the feature selection and event sequence extraction can be carried out by using the N-gram model and K-means algorithm.Based on the obtained event sequences,this approach finally trains an event-based HMM(Hidden Markov Model)to identify aberrant industrial communication behaviors.Experimental results clearly show that the proposed approach has obvious advantages of classification accuracy and detection efficiency.
基金supported by Fundação para a Ciência e a Tecnologia,grant UIDB/00315/2020.
文摘Recent literature has addressed initial coin offering(ICO)projects,which are an innovative form of venture financing through cryptocurrencies using blockchain technology.Many features of ICOs remain unexplored,leaving much room for additional research,including the success factors of ICO projects.We investigate the success of ICO projects,with our main purpose being to identify factors that influence a project’s outcome.Following a literature review,from which several potential variables were collected,we used a database comprising 428 ICO projects in the banking/financial sector to regress several econometric models.We confirmed the impacts of several variables and obtained particularly valuable results concerning project and campaign variables.We confirmed the importance of a well-structured and informative white-paper.The proximity to certain markets with high availability of financial and human capital is also an important determinant of the success of an ICO.We also confirm the strong dependency on cryptocurrency and the impact of cryptocurrency valuations on the success of a project.Furthermore,we confirm the importance of social media in ICO projects,as well as the importance of human capital characteristics.Our research contributes to the ICO literature by capturing most of the success factors previously identified and testing their impacts based on a large database.The current research contributes to the building of systems theory and signaling theory by adapting their frameworks to the ICO environment.Our results are also important for regulators,as ICOs are mainly unregulated and have vast future potential,and for investors,who can benefit from our analysis and use it in their due diligence.
基金This work is supported by the National Natural Science Foundation of China(22075150)the National Key Research and Development Program of China(2019YFE0118100)+2 种基金L.Ding thanks the National Key Research and Development Program of China(2022YFB3803300)the open research fund of Songshan Lake Materials Laboratory(2021SLABFK02)the National Natural Science Foundation of China(21961160720).
文摘Chalcopyrite,copper indium gallium selenide(Cu(In,Ga)Se_(2),CIGS),as semiconductor materials,have been widely used as absorbers in thin-film solar cells,offering high power conversion efficiency(PCE)and good thermal stability[1−3].Recently,the development of non-traditional photovoltaic(PV)devices such as semitransparent.
文摘SHORTLY after Spring Festival in mid-February, as China prepared for its WTO entry, arbitration took place between a non-public owned enterprise in Zhangjiagang, Jiangsu Province, and an American company,
文摘A model to explain the dynamic characters of earnings management was developed based on the interactionamong several firms’ disclosure policies. Under the condition of incomplete information, each firm’s earnings man-agement will be influenced by the earnings disclosure policies of other firms. It can lead to "herd behavior" of earningsmanagement. This paper studies the relationship between earnings manipulation and rights issue policy based on thedistribution of earnings after management. The results indicate that Chinese listed companies trend towards controllingROE in the narrow ranges just above 6% and 10% .Therefore, "herd behavior" exists in the earnings management.
文摘New York Times reported on November 20 that when you browsed Anthropologie’s stores, you would feel as if you’re wandering through an artsy home, where there are sure to be closets full of eclectic outfits, bedrooms with bohemian quilts and kitchen tables with
文摘THE non-public economy has played an important role in China’s economic reforms over the past two decades, bringing about great changes to the economy and soci-
文摘IN order to keep to promisesmade during negotiations to jointhe WTO, as from April 1,2002, the Chinese governmentbegan implementing the revised"Catalogue of Industries for ForeignInvestment" and its appendix.
文摘Nowadays, in data science, supervised learning algorithms are frequently used to perform text classification. However, African textual data, in general, have been studied very little using these methods. This article notes the particularity of the data and measures the level of precision of predictions of naive Bayes algorithms, decision tree, and SVM (Support Vector Machine) on a corpus of computer jobs taken on the internet. This is due to the data imbalance problem in machine learning. However, this problem essentially focuses on the distribution of the number of documents in each class or subclass. Here, we delve deeper into the problem to the word count distribution in a set of documents. The results are compared with those obtained on a set of French IT offers. It appears that the precision of the classification varies between 88% and 90% for French offers against 67%, at most, for Cameroonian offers. The contribution of this study is twofold. Indeed, it clearly shows that, in a similar job category, job offers on the internet in Cameroon are more unstructured compared to those available in France, for example. Moreover, it makes it possible to emit a strong hypothesis according to which sets of texts having a symmetrical distribution of the number of words obtain better results with supervised learning algorithms.
文摘CT:What are the positive effects of the lifting restrictions on international flights on this exhibition?Charles Beauduin:As our exhibitors and visitors come from more than 100 countries,the lifting of travel restrictions by governments around the world is good news.International airlines are adding more flights and this helps make it easier for participants to travel to our exhibition in Milan.
