The past two decades have witnessed an unprecedented surge in the number of newly listed companies on the major US stock exchanges. Over 500 firms have appeared per year between years of 1980 and 2005, on the average,...The past two decades have witnessed an unprecedented surge in the number of newly listed companies on the major US stock exchanges. Over 500 firms have appeared per year between years of 1980 and 2005, on the average, compared to 155 in the previous two decades.展开更多
In the last 20 years, public administrations in Belgium have completely reformed their accounting systems. The new system consists in combining double-entry general accounting with budgetary accounting, which is tradi...In the last 20 years, public administrations in Belgium have completely reformed their accounting systems. The new system consists in combining double-entry general accounting with budgetary accounting, which is traditional in the public sector. The accounting reform of 2003 marks a turning point in the history of accounting of the federal State and federated entities （regions and communities）. The Brussels-capital region is the first federated entity to embark on the adventure and implement the new accounting system in 2006. The aim of this article is to introduce the legislative framework and the different implementation steps of the accounting reform in the Brussels-capital region and to provide a financial analysis of the region. The objective is to see if the region has a good financial situation. To do this, this paper analyses the data from the balance sheet and the income statements from 2008 to 2011. On one hand, it analyzes the evolution of the region＇s different results; and on the other hand, it presents different financial ratios. It also analyzes the evolution of the regional debt. This paper concludes that, although expenses and the debt are increasing, the situation of the region is not worrying, because of good budgetary performances, sophisticated financial management, and law loans rates. Even if the results of the analysis don＇t have to be interpreted as the same way as for a private company, the annual accounts provide interesting information that can be used to improve public finance.展开更多
Energy union and climate stands as one of the priorities of the European commission,aiming at the provision of secure,environmentally friendly and affordable energy.European energy policy over the last two decades hav...Energy union and climate stands as one of the priorities of the European commission,aiming at the provision of secure,environmentally friendly and affordable energy.European energy policy over the last two decades have reshaped energy markets challenging the profitability and viability of energy companies.The latter must prove flexible in their management,including diversification of their portfolio,proceeding on structural unbundling and extending their operations in new markets and regions.Scope of the paper is to assess the financial and liquidity performances of key European energy companies over the period 2008-2017.The focus of the analysis concerns liquidity,profitability,operational performance and capital structure.The analysis is carried out in key energy companies,selected to have an extended geographical representation.Results indicate that gas and oil companies have less risk compared to power companies,attributed mainly to debt exposure.The renewable sector,although underrepresented in the examined sample,implies potential for high profitability.The profitability of power companies is affected by the ownership of assets with low operating costs and by diversification of operations,including regulated network operations.Eastern European power companies are favored by the derogation of EU regulation,though provision of free emission allowances.展开更多
Integration system is used to denote practices that combine systematic use of the land and technologies,in which forest species are used in conjunction with herbaceous plants and/or animals respecting a spatial or tem...Integration system is used to denote practices that combine systematic use of the land and technologies,in which forest species are used in conjunction with herbaceous plants and/or animals respecting a spatial or temporal arrangement.Knowing that this type of production seeks to balance ecological and economic factors,it is important to understand the financial benefits and risks involved in this production.Financial analysis,therefore,acts as an important analysis tool to foster this type of activity.The paper aimed to conduct analysis of investment risk of a crop-livestock-forestry system deployed in Brazil,comparing two different production scenarios,scenario I with 17 ha and scenario II with 25 ha.The risk analysis was performed using the Monte Carlo method and sensitivity analysis(by varying the factors:the discount rate,productivity and price).A cash flow was elaborated based on annual cost and revenues data of the agricultural crops(corn and soybeans),livestock and eucalyptus,using an interest rate of 6%per year.The results indicated that the optimal age for cutting the eucalyptus was at seven years on both scenarios;scenario I had better return on investment using deterministic and probabilistic methods;scenario I presents higher investments risks;there is a negative relation between discount rate and annualized net present value(ANPV);increased productivity of crops provides greater profitability to the system;there has been an increase in the economic viability of the system,as value has been added to the products.Monte Carlo method and the sensitivity analysis showed to be an appropriate tool to analyze the risk of crop-livestock-forestry systems,making it possible to foresee how the project will respond to possible scenarios.展开更多
This paper takes the financial statements of MI from 2017to 2019,and uses Harvard analysis framework to analyse the financial situation of MI.The analysis content mainly includes enterprise macro environment,industry ...This paper takes the financial statements of MI from 2017to 2019,and uses Harvard analysis framework to analyse the financial situation of MI.The analysis content mainly includes enterprise macro environment,industry competitive analysis and financial ratio analysis.This paper tried to understand the current situation and development prospect of MI.Based on the analysis of MI’s financial situation under the framework of Harvard,we summarized the existing problems and put forward suggestions.展开更多
This paper first elaborates on the importance of cash flow in building a comprehensive financial indicator system.On one hand,it is the relationship between cash flow and the assessment of the company’s solvency,prof...This paper first elaborates on the importance of cash flow in building a comprehensive financial indicator system.On one hand,it is the relationship between cash flow and the assessment of the company’s solvency,profitability,and operating ability.On the other hand,it is the theoretical basis of financial analysis based on cash flow.We then introduced the construction principles of the financial analysis index system based on cash flow,and lastly analyzed the financial data of Xiaomi for empirical research.展开更多
This study investigated the financial performance of Bangladesh’s State-Owned Commercial Banks,Islami Shariah Based Private commercial Banks and Conventional Private Commercial Banks over 12 years from 2006 to 2017.T...This study investigated the financial performance of Bangladesh’s State-Owned Commercial Banks,Islami Shariah Based Private commercial Banks and Conventional Private Commercial Banks over 12 years from 2006 to 2017.The objective of this study is to find out the financial performance of a bank based on CAMEL indicators.The finding of this study is that Islami Shariah Based Private commercial Banks and Conventional Private Commercial Banks has a good position than State-Owned Commercial Banks.Specific,Pubali Bank Limited,Standard Bank Limited,Prime Bank Limited,City Bank Limited and Al-Arafah Islami Bank Limited are in the best position in Bangladesh under this study.We also found that the performance of State-Owned Commercial Banks is not good.This study gives a policy implementation according to results.1.State-Owned Commercial Banks should restructure the infrastructure.2.It needs more emphasis on efficiency and effectiveness to control the cost and loan investment.3.It will be required to pay more in insurance premiums.4.It should be born in mine,for higher rating banks.We suggest to a higher number of rating banks that it’s hinders a bank’s ability to expand by investing,consolidating,or adding more branches.We also suggest to all lower rating banks.The institutions with a poor rating will be required to pay more in insurance premiums.展开更多
The code of ethics and standards of professional conduct are important and necessary,for it provides standards for professional's daily dealing.It forbids conflicts of interest minimizing problems;it enhances publ...The code of ethics and standards of professional conduct are important and necessary,for it provides standards for professional's daily dealing.It forbids conflicts of interest minimizing problems;it enhances public trust;and it lifts up high moral and ethical standards.Maintaining independence and objectivity in daily activities and following the code provide a fine basis of ethi caljudgments.展开更多
The purpose of the paper is to identify the factors of financial development that have the greatest impact on open innovation in 7 emerging countries.The analysis was performed featuring the MF-X-DMA method,as well as...The purpose of the paper is to identify the factors of financial development that have the greatest impact on open innovation in 7 emerging countries.The analysis was performed featuring the MF-X-DMA method,as well as its further verification for auto-correlation and heteroscedasticity.The time period covers years from 2002 to 2020.The article states that the main indicators to improve financial development should enhance the process of bank lending and equity market development.An important area is the development of competition by providing equal access to information to all market participants in a continuously refining technical infrastructure.Regression analysis with the MF-X-DMA method confirms the statistical significance of this influ-ence.The article fills the knowledge gap into the link between open innovations and the relatively low capitalization of the modern emerging countries’financial market,low liquidity in small cap stocks at the financial market and concentration of the banking sector,as well as risks arising in the process of globalization.Another analysis has also been conducted by generating a novel fuzzy decision-making model.In the first stage,the determinants of open innovation-based fintech potential are weighted for the emerging economies.For this purpose,M-SWARA methodology is taken into consideration based on bipolar q-ROFSs and golden cut.The second stage of the analysis includes evaluating the emerging economies with the determinants of open innovation-based fintech potential.In this context,emerging seven countries are examined with ELECTRE methodology.It found the most significant factor is the open innovation-based fintech potential.展开更多
Objective:Smart insufflation(SI)techniques relying on valve and membrane-free insufflation are increasing in usage.Although considerable literature exists demonstrating the benefits of SI on procedural ease and patien...Objective:Smart insufflation(SI)techniques relying on valve and membrane-free insufflation are increasing in usage.Although considerable literature exists demonstrating the benefits of SI on procedural ease and patient outcomes,there remains a paucity describing the financial impact of these devices.The purpose of this study was to determine the financial and efficiency impact of these devices on the operating room and inpatient wards of a hospital.Methods:A discrete event simulation model representing a typical mid-sized North American hospital comparing SI to traditional insufflation(TI)was generated.The National Surgical Quality Improvement database from 2015 to 2019 was used to populate the model with data supplemented from the literature.Outcomes included length of stay(LOS),duration of surgery(DOS),annual procedure volume,profit,return on investment(ROI),and gross profit margin(GPM).From the literature review,DOS savings were 10e32 minutes/case,while LOS savings were 0e3 days/case.Results:Implementation of an SI led to an increase in annual throughput of 42e346(4.4%e36.6%)cases for all procedures and 38 to 297(4.3%e33.3%)cases for complex procedures.LOS was found to be decreased by 175e614(18.3%e64.2%)days for all procedures and 231 to 614(35.6%e77.9%)cases for complex procedures with the implementation of an SI.Together,this resulted in an increase in net profit of$104,685 per annum.The ROI of SI over the TI device was>1000%,and the GPM for the TI was 90.0%,while the GPM for the SI was 71.7%.Conclusion:Despite the initial financial investment being greater,the implementation of SI offsets these expenses and yields significant financial benefits.Our study demonstrates the financial benefits of SI over TI and illustrates how granular operational and financial analyses of technologies are essential to aid in sound healthcare procurement decision making.展开更多
This study aims to examine the time-varying efficiency of the Turkish stock market’s major stock index and eight sectoral indices,including the industrial,financial,service,information technology,basic metals,tourism...This study aims to examine the time-varying efficiency of the Turkish stock market’s major stock index and eight sectoral indices,including the industrial,financial,service,information technology,basic metals,tourism,real estate investment,and chemical petrol plastic,during the COVID-19 outbreak and the global financial crisis(GFC)within the framework of the adaptive market hypothesis.This study employs multifractal detrended fluctuation analysis to illustrate these sectors’multifractality and short-and long-term dependence.The results show that all sectoral returns have greater persis-tence during the COVID-19 outbreak than during the GFC.Second,the real estate and information technology industries had the lowest levels of efficiency during the GFC and the COVID-19 outbreak.Lastly,the fat-tailed distribution has a greater effect on multifractality in these industries.Our results validate the conclusions of the adaptive market hypothesis,according to which arbitrage opportunities vary over time,and contribute to policy formulation for future outbreak-induced economic crises.展开更多
This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and th...This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and the provincial index of digital financial inclusion.Through the empirical test of the Probit model and mediation effect model,we found that:firstly,digital financial inclusion can promote non-farm employment of rural labor,with the level of digitalization having the most significant impact;secondly,by encouraging innovation and entrepreneurial activity,digital financial inclusion can promote non-farm employment of rural labor;thirdly,the driving effect of digital financial inclusion on non-farm employment of rural labor is more pronounced among the unmarried,eastern region,and male labor.Therefore,we should improve the construction of rural digital infrastructure and accelerate the development of inclusive rural finance to promote more diversified non-farm employment options for“disadvantaged groups”;encourage and support innovation at the government level,and create a favorable atmosphere for innovation and entrepreneurship.Simultaneously,farmers’digital literacy and financial knowledge should be improved so that more can adopt and take advantage of digital financial inclusion.展开更多
This study analyzes the role of financial development(FD)on the impact of technologi-cal innovation(TI)on six environmental quality indicators for the 25 economies that are part of the Organization for Economic Cooper...This study analyzes the role of financial development(FD)on the impact of technologi-cal innovation(TI)on six environmental quality indicators for the 25 economies that are part of the Organization for Economic Cooperation and Development for the period from 2000 to 2019.We use a two-step dynamic generalized method of moments approach to understand this relationship.The results show that FD augments the posi-tive effects of TI on four of the six environmental indicators,namely ecological foot-print,adjusted net savings,pressure on nature,and environmental performance.However,no significant effects on environmental sustainability and environmental vulnerability indices were found.When considering all of the environmental quality indicators,TI appears to enhance environmental quality.We find evidence to support the existence of the environmental Kuznets curve in the context of each environmen-tal indicator and economic growth.Moreover,FD and energy consumption appear to accelerate environmental degradation.Based on these results,FD should be viewed as an important parameter in designing policies for innovation to achieve the goal of net-zero carbon emissions.Highlights.Technological innovation and environmental quality nexus is studied.The moderating role of financial development is analyzed.Six different environmental quality indicators are used for OECD countries.Financial development intensifies the environmental benefits of innovation.•The EKC hypothesis is confirmed for all six environmental indicators.展开更多
Based on the general equilibrium theory of microeconomics,this study first analyzed the causes of sharp fluctuations in live pig prices,and then explored the financial capabilities of enterprises during the sharp fluc...Based on the general equilibrium theory of microeconomics,this study first analyzed the causes of sharp fluctuations in live pig prices,and then explored the financial capabilities of enterprises during the sharp fluctuations of live pig prices by using the financial data of 4 typical top listed enterprises from 2018 to 2021.By comparing the changes in the capabilities of enterprises,the impact of price on the financial capability of enterprises and differences were identified.The research results showed that the price of live pigs played a decisive role in enterprise profits,and there were huge differences in the fluctuation period.In the sharp increase period of price,price temptation is easy to cause enterprises to over-invest,resulting in excessive growth of enterprise assets,and increasing the business risk of enterprises.Based on the above conclusions,some policy suggestions were put forward to promote the stable development of industry from the three levels of enterprises,industries and government departments.展开更多
Gears are pivotal in mechanical drives,and gear contact analysis is a typically difficult problem to solve.Emerging isogeometric analysis(IGA)methods have developed new ideas to solve this problem.In this paper,a thre...Gears are pivotal in mechanical drives,and gear contact analysis is a typically difficult problem to solve.Emerging isogeometric analysis(IGA)methods have developed new ideas to solve this problem.In this paper,a threedimensional body parametric gear model of IGA is established,and a theoretical formula is derived to realize single-tooth contact analysis.Results were benchmarked against those obtained from commercial software utilizing the finite element analysis(FEA)method to validate the accuracy of our approach.Our findings indicate that the IGA-based contact algorithmsuccessfullymet theHertz contact test.When juxtaposed with the FEA approach,the IGAmethod demonstrated fewer node degrees of freedomand reduced computational units,all whilemaintaining comparable accuracy.Notably,the IGA method appeared to exhibit consistency in analysis accuracy irrespective of computational unit density,and also significantlymitigated non-physical oscillations in contact stress across the tooth width.This underscores the prowess of IGA in contact analysis.In conclusion,IGA emerges as a potent tool for addressing contact analysis challenges and holds significant promise for 3D gear modeling,simulation,and optimization of various mechanical components.展开更多
The supercritical CO_(2)cOoled Lithium-Lead(COOL)blanket has been designed as one advanced blanket candidate for the Chinese Fusion Engineering Test Reactor(CFETR).This work focuses on the electromagnetic(EM)loads(Max...The supercritical CO_(2)cOoled Lithium-Lead(COOL)blanket has been designed as one advanced blanket candidate for the Chinese Fusion Engineering Test Reactor(CFETR).This work focuses on the electromagnetic(EM)loads(Maxwell force and Lorentz force)acting on the COOL blanket,which are important mechanical loads in further structural analysis of the COOL blanket.A 3D electromagnetic analysis is performed using the ANSYS finite element method to obtain EM loads on the COOL blanket in this study.At first,the magnetic scalar potential(MSP)method is used to obtain the magnetic field and the Maxwell force on the COOL blanket.Then,the magnetic vector potential(MVP)method is performed during a plasma disruption event to get the eddy current distribution.At last,a multi-step method is adopted for the calculation of the Lorentz force and the torque.The maximum Lorentz forces of inboard and outboard blanket structural components are 5624 kN and 2360 kN respectively.展开更多
DNA methylation has been extensively investigated in recent years,not least because of its known relationship with various diseases.Progress in analytical methods can greatly increase the relevance of DNA methylation ...DNA methylation has been extensively investigated in recent years,not least because of its known relationship with various diseases.Progress in analytical methods can greatly increase the relevance of DNA methylation studies to both clinical medicine and scientific research.Microflu-idic chips are excellent carriers for molecular analysis,and their use can provide improvements from multiple aspects.On-chip molecular analysis has received extensive attention owing to its advantages of portability,high throughput,low cost,and high efficiency.In recent years,the use of novel microfluidic chips for DNA methylation analysis has been widely reported and has shown obvious superiority to conventional methods.In this review,wefirst focus on DNA methylation and its applications.Then,we discuss advanced microfluidic-based methods for DNA methylation analysis and describe the great progress that has been made in recent years.Finally,we summarize the advantages that microfluidic technology brings to DNA methylation analysis and describe several challenges and perspectives for on-chip DNA methylation analysis.This review should help researchers improve their understanding and make progress in developing microfluidic-based methods for DNA methylation analysis.展开更多
Lily(Lilium spp.) is an important ornamental flower, which is mainly propagated by bulbs. Cell wall invertases(CWINs), which catalyze the irreversibly conversion of sucrose into glucose and fructose in the extracellul...Lily(Lilium spp.) is an important ornamental flower, which is mainly propagated by bulbs. Cell wall invertases(CWINs), which catalyze the irreversibly conversion of sucrose into glucose and fructose in the extracellular space, are key enzymes participating in sucrose allocation in higher plants. Previous studies have shown that CWINs play an essential role in bulblet initiation process in bulbous crops, but the underlying molecular mechanism remains unclear. Here, a CWIN gene of Lilium brownii var. giganteum(Lbg) was identified and amplified from genomic DNA. Quantitative RT-PCR assays revealed that the expression level of LbgCWIN1 was highly upregulated exactly when the endogenous starch degraded in non-sucrose medium during in vitro bulblet initiation in Lbg. Phylogenetic relationship, motif, and domain analysis of LbgCWIN1 protein and CWINs in other plant species showed that all sequences of these CWIN proteins were highly conserved. The promoter sequence of LbgCWIN1 possessed a number of alpha-amylase-, phytohormone-, light-and stress-responsive cis-elements. Meanwhile, β-glucuronidase(GUS) assay showed that the 459 bp upstream fragment from the translational start site displayed maximal promoter activity. These results revealed that LbgCWIN1 might function in the process of in vitro bulblet initiation and be in the response to degradation of endogenous starch.展开更多
文摘The past two decades have witnessed an unprecedented surge in the number of newly listed companies on the major US stock exchanges. Over 500 firms have appeared per year between years of 1980 and 2005, on the average, compared to 155 in the previous two decades.
文摘In the last 20 years, public administrations in Belgium have completely reformed their accounting systems. The new system consists in combining double-entry general accounting with budgetary accounting, which is traditional in the public sector. The accounting reform of 2003 marks a turning point in the history of accounting of the federal State and federated entities （regions and communities）. The Brussels-capital region is the first federated entity to embark on the adventure and implement the new accounting system in 2006. The aim of this article is to introduce the legislative framework and the different implementation steps of the accounting reform in the Brussels-capital region and to provide a financial analysis of the region. The objective is to see if the region has a good financial situation. To do this, this paper analyses the data from the balance sheet and the income statements from 2008 to 2011. On one hand, it analyzes the evolution of the region＇s different results; and on the other hand, it presents different financial ratios. It also analyzes the evolution of the regional debt. This paper concludes that, although expenses and the debt are increasing, the situation of the region is not worrying, because of good budgetary performances, sophisticated financial management, and law loans rates. Even if the results of the analysis don＇t have to be interpreted as the same way as for a private company, the annual accounts provide interesting information that can be used to improve public finance.
文摘Energy union and climate stands as one of the priorities of the European commission,aiming at the provision of secure,environmentally friendly and affordable energy.European energy policy over the last two decades have reshaped energy markets challenging the profitability and viability of energy companies.The latter must prove flexible in their management,including diversification of their portfolio,proceeding on structural unbundling and extending their operations in new markets and regions.Scope of the paper is to assess the financial and liquidity performances of key European energy companies over the period 2008-2017.The focus of the analysis concerns liquidity,profitability,operational performance and capital structure.The analysis is carried out in key energy companies,selected to have an extended geographical representation.Results indicate that gas and oil companies have less risk compared to power companies,attributed mainly to debt exposure.The renewable sector,although underrepresented in the examined sample,implies potential for high profitability.The profitability of power companies is affected by the ownership of assets with low operating costs and by diversification of operations,including regulated network operations.Eastern European power companies are favored by the derogation of EU regulation,though provision of free emission allowances.
文摘Integration system is used to denote practices that combine systematic use of the land and technologies,in which forest species are used in conjunction with herbaceous plants and/or animals respecting a spatial or temporal arrangement.Knowing that this type of production seeks to balance ecological and economic factors,it is important to understand the financial benefits and risks involved in this production.Financial analysis,therefore,acts as an important analysis tool to foster this type of activity.The paper aimed to conduct analysis of investment risk of a crop-livestock-forestry system deployed in Brazil,comparing two different production scenarios,scenario I with 17 ha and scenario II with 25 ha.The risk analysis was performed using the Monte Carlo method and sensitivity analysis(by varying the factors:the discount rate,productivity and price).A cash flow was elaborated based on annual cost and revenues data of the agricultural crops(corn and soybeans),livestock and eucalyptus,using an interest rate of 6%per year.The results indicated that the optimal age for cutting the eucalyptus was at seven years on both scenarios;scenario I had better return on investment using deterministic and probabilistic methods;scenario I presents higher investments risks;there is a negative relation between discount rate and annualized net present value(ANPV);increased productivity of crops provides greater profitability to the system;there has been an increase in the economic viability of the system,as value has been added to the products.Monte Carlo method and the sensitivity analysis showed to be an appropriate tool to analyze the risk of crop-livestock-forestry systems,making it possible to foresee how the project will respond to possible scenarios.
文摘This paper takes the financial statements of MI from 2017to 2019,and uses Harvard analysis framework to analyse the financial situation of MI.The analysis content mainly includes enterprise macro environment,industry competitive analysis and financial ratio analysis.This paper tried to understand the current situation and development prospect of MI.Based on the analysis of MI’s financial situation under the framework of Harvard,we summarized the existing problems and put forward suggestions.
文摘This paper first elaborates on the importance of cash flow in building a comprehensive financial indicator system.On one hand,it is the relationship between cash flow and the assessment of the company’s solvency,profitability,and operating ability.On the other hand,it is the theoretical basis of financial analysis based on cash flow.We then introduced the construction principles of the financial analysis index system based on cash flow,and lastly analyzed the financial data of Xiaomi for empirical research.
文摘This study investigated the financial performance of Bangladesh’s State-Owned Commercial Banks,Islami Shariah Based Private commercial Banks and Conventional Private Commercial Banks over 12 years from 2006 to 2017.The objective of this study is to find out the financial performance of a bank based on CAMEL indicators.The finding of this study is that Islami Shariah Based Private commercial Banks and Conventional Private Commercial Banks has a good position than State-Owned Commercial Banks.Specific,Pubali Bank Limited,Standard Bank Limited,Prime Bank Limited,City Bank Limited and Al-Arafah Islami Bank Limited are in the best position in Bangladesh under this study.We also found that the performance of State-Owned Commercial Banks is not good.This study gives a policy implementation according to results.1.State-Owned Commercial Banks should restructure the infrastructure.2.It needs more emphasis on efficiency and effectiveness to control the cost and loan investment.3.It will be required to pay more in insurance premiums.4.It should be born in mine,for higher rating banks.We suggest to a higher number of rating banks that it’s hinders a bank’s ability to expand by investing,consolidating,or adding more branches.We also suggest to all lower rating banks.The institutions with a poor rating will be required to pay more in insurance premiums.
文摘The code of ethics and standards of professional conduct are important and necessary,for it provides standards for professional's daily dealing.It forbids conflicts of interest minimizing problems;it enhances public trust;and it lifts up high moral and ethical standards.Maintaining independence and objectivity in daily activities and following the code provide a fine basis of ethi caljudgments.
文摘The purpose of the paper is to identify the factors of financial development that have the greatest impact on open innovation in 7 emerging countries.The analysis was performed featuring the MF-X-DMA method,as well as its further verification for auto-correlation and heteroscedasticity.The time period covers years from 2002 to 2020.The article states that the main indicators to improve financial development should enhance the process of bank lending and equity market development.An important area is the development of competition by providing equal access to information to all market participants in a continuously refining technical infrastructure.Regression analysis with the MF-X-DMA method confirms the statistical significance of this influ-ence.The article fills the knowledge gap into the link between open innovations and the relatively low capitalization of the modern emerging countries’financial market,low liquidity in small cap stocks at the financial market and concentration of the banking sector,as well as risks arising in the process of globalization.Another analysis has also been conducted by generating a novel fuzzy decision-making model.In the first stage,the determinants of open innovation-based fintech potential are weighted for the emerging economies.For this purpose,M-SWARA methodology is taken into consideration based on bipolar q-ROFSs and golden cut.The second stage of the analysis includes evaluating the emerging economies with the determinants of open innovation-based fintech potential.In this context,emerging seven countries are examined with ELECTRE methodology.It found the most significant factor is the open innovation-based fintech potential.
基金funding to conduct this study was provided by a research innovation grant provided by CONMED Corporation(#IRB 22-0113-C).
文摘Objective:Smart insufflation(SI)techniques relying on valve and membrane-free insufflation are increasing in usage.Although considerable literature exists demonstrating the benefits of SI on procedural ease and patient outcomes,there remains a paucity describing the financial impact of these devices.The purpose of this study was to determine the financial and efficiency impact of these devices on the operating room and inpatient wards of a hospital.Methods:A discrete event simulation model representing a typical mid-sized North American hospital comparing SI to traditional insufflation(TI)was generated.The National Surgical Quality Improvement database from 2015 to 2019 was used to populate the model with data supplemented from the literature.Outcomes included length of stay(LOS),duration of surgery(DOS),annual procedure volume,profit,return on investment(ROI),and gross profit margin(GPM).From the literature review,DOS savings were 10e32 minutes/case,while LOS savings were 0e3 days/case.Results:Implementation of an SI led to an increase in annual throughput of 42e346(4.4%e36.6%)cases for all procedures and 38 to 297(4.3%e33.3%)cases for complex procedures.LOS was found to be decreased by 175e614(18.3%e64.2%)days for all procedures and 231 to 614(35.6%e77.9%)cases for complex procedures with the implementation of an SI.Together,this resulted in an increase in net profit of$104,685 per annum.The ROI of SI over the TI device was>1000%,and the GPM for the TI was 90.0%,while the GPM for the SI was 71.7%.Conclusion:Despite the initial financial investment being greater,the implementation of SI offsets these expenses and yields significant financial benefits.Our study demonstrates the financial benefits of SI over TI and illustrates how granular operational and financial analyses of technologies are essential to aid in sound healthcare procurement decision making.
文摘This study aims to examine the time-varying efficiency of the Turkish stock market’s major stock index and eight sectoral indices,including the industrial,financial,service,information technology,basic metals,tourism,real estate investment,and chemical petrol plastic,during the COVID-19 outbreak and the global financial crisis(GFC)within the framework of the adaptive market hypothesis.This study employs multifractal detrended fluctuation analysis to illustrate these sectors’multifractality and short-and long-term dependence.The results show that all sectoral returns have greater persis-tence during the COVID-19 outbreak than during the GFC.Second,the real estate and information technology industries had the lowest levels of efficiency during the GFC and the COVID-19 outbreak.Lastly,the fat-tailed distribution has a greater effect on multifractality in these industries.Our results validate the conclusions of the adaptive market hypothesis,according to which arbitrage opportunities vary over time,and contribute to policy formulation for future outbreak-induced economic crises.
基金Ministry of Education Humanities and Social Science Foundation Youth Project“Micro-Quantification,Action Mechanism and Impact Research on Financialization of Entity Enterprises”[Grant number.19YJC790106]National Social Science Fund“Mechanism Analysis and Optimization Path Research of Digital Finance Supporting the Improvement of development efficiency of SMEs”[Grant number.21BJY047]+1 种基金Science and Technology Research Program of Chongqing Municipal Education Commission of China:“Research on the Mechanism and Path of Green Finance to Promote Poverty Alleviation in Poor areas in Western China”[Grant number.KJQN201900550]Science and Technology Research Program of Chongqing Municipal Education Commission of China:“Research on Financial Efficiency and High-quality Innovation Development from the Perspective of the Innovation Value Chain”[Grant number.KJQN202000540].
文摘This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and the provincial index of digital financial inclusion.Through the empirical test of the Probit model and mediation effect model,we found that:firstly,digital financial inclusion can promote non-farm employment of rural labor,with the level of digitalization having the most significant impact;secondly,by encouraging innovation and entrepreneurial activity,digital financial inclusion can promote non-farm employment of rural labor;thirdly,the driving effect of digital financial inclusion on non-farm employment of rural labor is more pronounced among the unmarried,eastern region,and male labor.Therefore,we should improve the construction of rural digital infrastructure and accelerate the development of inclusive rural finance to promote more diversified non-farm employment options for“disadvantaged groups”;encourage and support innovation at the government level,and create a favorable atmosphere for innovation and entrepreneurship.Simultaneously,farmers’digital literacy and financial knowledge should be improved so that more can adopt and take advantage of digital financial inclusion.
基金This research paper did not receive any financial aid from any source.
文摘This study analyzes the role of financial development(FD)on the impact of technologi-cal innovation(TI)on six environmental quality indicators for the 25 economies that are part of the Organization for Economic Cooperation and Development for the period from 2000 to 2019.We use a two-step dynamic generalized method of moments approach to understand this relationship.The results show that FD augments the posi-tive effects of TI on four of the six environmental indicators,namely ecological foot-print,adjusted net savings,pressure on nature,and environmental performance.However,no significant effects on environmental sustainability and environmental vulnerability indices were found.When considering all of the environmental quality indicators,TI appears to enhance environmental quality.We find evidence to support the existence of the environmental Kuznets curve in the context of each environmen-tal indicator and economic growth.Moreover,FD and energy consumption appear to accelerate environmental degradation.Based on these results,FD should be viewed as an important parameter in designing policies for innovation to achieve the goal of net-zero carbon emissions.Highlights.Technological innovation and environmental quality nexus is studied.The moderating role of financial development is analyzed.Six different environmental quality indicators are used for OECD countries.Financial development intensifies the environmental benefits of innovation.•The EKC hypothesis is confirmed for all six environmental indicators.
文摘Based on the general equilibrium theory of microeconomics,this study first analyzed the causes of sharp fluctuations in live pig prices,and then explored the financial capabilities of enterprises during the sharp fluctuations of live pig prices by using the financial data of 4 typical top listed enterprises from 2018 to 2021.By comparing the changes in the capabilities of enterprises,the impact of price on the financial capability of enterprises and differences were identified.The research results showed that the price of live pigs played a decisive role in enterprise profits,and there were huge differences in the fluctuation period.In the sharp increase period of price,price temptation is easy to cause enterprises to over-invest,resulting in excessive growth of enterprise assets,and increasing the business risk of enterprises.Based on the above conclusions,some policy suggestions were put forward to promote the stable development of industry from the three levels of enterprises,industries and government departments.
基金support provided by the National Nature Science Foundation of China (Grant Nos.52075340,51875360)Project of Science and Technology Commission of Shanghai Municipality (No.19060502300).
文摘Gears are pivotal in mechanical drives,and gear contact analysis is a typically difficult problem to solve.Emerging isogeometric analysis(IGA)methods have developed new ideas to solve this problem.In this paper,a threedimensional body parametric gear model of IGA is established,and a theoretical formula is derived to realize single-tooth contact analysis.Results were benchmarked against those obtained from commercial software utilizing the finite element analysis(FEA)method to validate the accuracy of our approach.Our findings indicate that the IGA-based contact algorithmsuccessfullymet theHertz contact test.When juxtaposed with the FEA approach,the IGAmethod demonstrated fewer node degrees of freedomand reduced computational units,all whilemaintaining comparable accuracy.Notably,the IGA method appeared to exhibit consistency in analysis accuracy irrespective of computational unit density,and also significantlymitigated non-physical oscillations in contact stress across the tooth width.This underscores the prowess of IGA in contact analysis.In conclusion,IGA emerges as a potent tool for addressing contact analysis challenges and holds significant promise for 3D gear modeling,simulation,and optimization of various mechanical components.
基金supported by the Comprehensive Research Facility for Fusion Technology(CRAFT)Program of China(No.2018-000052-73-01-001228)National Natural Science Foundation of China(No.12205330)。
文摘The supercritical CO_(2)cOoled Lithium-Lead(COOL)blanket has been designed as one advanced blanket candidate for the Chinese Fusion Engineering Test Reactor(CFETR).This work focuses on the electromagnetic(EM)loads(Maxwell force and Lorentz force)acting on the COOL blanket,which are important mechanical loads in further structural analysis of the COOL blanket.A 3D electromagnetic analysis is performed using the ANSYS finite element method to obtain EM loads on the COOL blanket in this study.At first,the magnetic scalar potential(MSP)method is used to obtain the magnetic field and the Maxwell force on the COOL blanket.Then,the magnetic vector potential(MVP)method is performed during a plasma disruption event to get the eddy current distribution.At last,a multi-step method is adopted for the calculation of the Lorentz force and the torque.The maximum Lorentz forces of inboard and outboard blanket structural components are 5624 kN and 2360 kN respectively.
基金support from the National Key R&D Program of China(Grant No.2018YFE0118700)the National Natural Science Foundation of China(NSFC Grant No.62174119)+1 种基金the 111 Project(Grant No.B07014)the Foundation for Talent Scientists of Nanchang Institute for Microtechnology of Tianjin University.
文摘DNA methylation has been extensively investigated in recent years,not least because of its known relationship with various diseases.Progress in analytical methods can greatly increase the relevance of DNA methylation studies to both clinical medicine and scientific research.Microflu-idic chips are excellent carriers for molecular analysis,and their use can provide improvements from multiple aspects.On-chip molecular analysis has received extensive attention owing to its advantages of portability,high throughput,low cost,and high efficiency.In recent years,the use of novel microfluidic chips for DNA methylation analysis has been widely reported and has shown obvious superiority to conventional methods.In this review,wefirst focus on DNA methylation and its applications.Then,we discuss advanced microfluidic-based methods for DNA methylation analysis and describe the great progress that has been made in recent years.Finally,we summarize the advantages that microfluidic technology brings to DNA methylation analysis and describe several challenges and perspectives for on-chip DNA methylation analysis.This review should help researchers improve their understanding and make progress in developing microfluidic-based methods for DNA methylation analysis.
基金financially supported by the National Natural Science Foundation of China (Grant Nos.32101571,32002071)the Zhejiang Science and Technology Major Program on Agricultural New Variety Breeding (Grant No.2021C02071-6)。
文摘Lily(Lilium spp.) is an important ornamental flower, which is mainly propagated by bulbs. Cell wall invertases(CWINs), which catalyze the irreversibly conversion of sucrose into glucose and fructose in the extracellular space, are key enzymes participating in sucrose allocation in higher plants. Previous studies have shown that CWINs play an essential role in bulblet initiation process in bulbous crops, but the underlying molecular mechanism remains unclear. Here, a CWIN gene of Lilium brownii var. giganteum(Lbg) was identified and amplified from genomic DNA. Quantitative RT-PCR assays revealed that the expression level of LbgCWIN1 was highly upregulated exactly when the endogenous starch degraded in non-sucrose medium during in vitro bulblet initiation in Lbg. Phylogenetic relationship, motif, and domain analysis of LbgCWIN1 protein and CWINs in other plant species showed that all sequences of these CWIN proteins were highly conserved. The promoter sequence of LbgCWIN1 possessed a number of alpha-amylase-, phytohormone-, light-and stress-responsive cis-elements. Meanwhile, β-glucuronidase(GUS) assay showed that the 459 bp upstream fragment from the translational start site displayed maximal promoter activity. These results revealed that LbgCWIN1 might function in the process of in vitro bulblet initiation and be in the response to degradation of endogenous starch.
