Based on the analysis of the characteristics of AMC＇s non-performing asset auction, this paper puts forward a model of AMC＇s non-performing asset disposal with the Game Theory thinking, explored the Nash Equilibrium...Based on the analysis of the characteristics of AMC＇s non-performing asset auction, this paper puts forward a model of AMC＇s non-performing asset disposal with the Game Theory thinking, explored the Nash Equilibrium solution to the pricing model of AMC＇s non-performing asset auction, discussed the impact of the actual value of non-performing assets, auction disposal costs and other relevant elements on auction price, analyzed the pricing and decision-making mechanism of AMC＇s non-performing asset auction with Game Theory, and provided a theoretical guide for AMC to auction the non-performing assets in practice.展开更多
The non-performing assets of China’s financial institutions totaled RMB l,800 billion. Has this threatened the safety of China’s financial industry? Where do this large amount of nonperforming assets come from?
The COVID-19 pandemic precipitated a surge in the non-performing assets held by financial institutions,elevating systemic risk in financial networks.Therefore,developing strategies to alleviate this risk,with a focus ...The COVID-19 pandemic precipitated a surge in the non-performing assets held by financial institutions,elevating systemic risk in financial networks.Therefore,developing strategies to alleviate this risk,with a focus on non-performing assets,has become a research area of interest.Supported by policies related to the Chinese insurance market,this study proposes the establishment of a non-performing assets disposal fund backed by insurance capital.This fund will invest in the non-performing assets of financial institutions with the aim of mitigating systemic risk.Using a linear threshold model,we identify an asymptotically optimal scheme for disposing of nonperforming assets.Additionally,we construct a payment model integrated with nonperforming assets,from which we derive an optimal payment and clearing strategy.Our research also proposes a robust set of criteria to assist regulators in determining whether to use the non-performing assets disposal fund.To demonstrate the efficacy of the fund in reducing systemic risk,we conduct simulations and analyze data from the Chinese interbank financial network.Through this rigorous analysis,we confirm the role of the fund in enhancing the stability of the financial system.展开更多
Against the backdrop of China’s“Dual Carbon”strategy,the rapid transformation of China’s energy structure is driving the need for structural adjustments in its carbon assets.Investigating the volatility spillovers...Against the backdrop of China’s“Dual Carbon”strategy,the rapid transformation of China’s energy structure is driving the need for structural adjustments in its carbon assets.Investigating the volatility spillovers between climate risks and carbon assets is therefore crucial for optimizing asset allocation,enhancing the green financial system,and mitigating cross-market risk contagion.Using a refined time-varying parameter vector autoregression(TVP-VAR)model,we analyze their time-varying spillover effects on high-carbon(WTI crude oil futures)and low-carbon(the NASDAQ Clean Edge Green Energy Index[CELS])assets.Our results reveal a significant bidirectional spillover relationship between climate risks and carbon assets.Statistically,the climate risks serve as the primary net transmitter of spillovers to both crude oil and the clean energy index.Dynamically,the influence of transition risk on low-carbon assets amplifies markedly during specific episodes,highlighting its acute sensitivity to policy and market signals.A key finding is the considerable hedging capacity of the CELS,which exhibits a 43.6%hedging efficiency against systemic risk in high-carbon assets,an effect that becomes particularly pronounced during periods of intensive policy implementation.This research provides a quantitative basis for investors to design“carbon quota and green bond”portfolios,and for regulators to develop a cross-market early warning mechanism for climate risks.展开更多
The objective of this article is to delve into the digital financial asset(DFA)portfolio price of institutional investors,such as hedge funds.The aim is to make a significant contribution by providing methods(statisti...The objective of this article is to delve into the digital financial asset(DFA)portfolio price of institutional investors,such as hedge funds.The aim is to make a significant contribution by providing methods(statistical methods and fuzzy logic)for investors to identify and select the best long-term portfolio from the pool of 218 digital financial assets that are available in the Russian market.Importantly,companies listed as digital financial asset operators often offer multiple classes of these assets for trading,and as such,investors are only able to trade floating digital financial assets.By the time we reach the conclusion of the year 2024,it has been estimated that the total volume of the Russian DFA market that is currently in circulation will amount to a staggering 1.54 billion USD.Additionally,it is worth noting that 708 different issues are currently actively circulating in the market,showcasing a rather extensive array of options for potential investors.In December alone,an impressive total of 147 new DFAs were introduced and successfully placed,contributing a notable 0.7 billion USD to the market,which is certainly a remarkable feat.The sustainability of the price premium remains uncertain,a consequence of the digital asset market’s inherent volatility and relatively short history.When this volatility is considered,the observed premium lacks statistical significance for the sample period.Therefore,the novelty of this study is the creation of new effective tools for researching the effectiveness of portfolio management for time series,which includes 416 daily observations for the period March 2022–October 2023.展开更多
This paper focuses on the optimization of the evaluation index system for the value of transportation infrastructure assets.It analyzes the shortcomings of the current system and explores the directions for optimizing...This paper focuses on the optimization of the evaluation index system for the value of transportation infrastructure assets.It analyzes the shortcomings of the current system and explores the directions for optimizing the index system from the perspectives of functionality,economy,social impact,environmental impact,and sustainability.The paper also discusses the application of the optimized index system in practical evaluation and the measures to ensure its effectiveness.The research aims to enhance the evaluation mechanism for the value of transportation infrastructure assets,providing a more scientific basis for decision-making,addressing challenges in asset management,improving the level of asset management in transportation infrastructure,and meeting the demands of high-quality development in the transportation sector in the new era.展开更多
This paper examines the environmental impact of green assets using machine learning and impulse responses by local projections.A series of 87 green assets from various classes are considered,namely firms providing ren...This paper examines the environmental impact of green assets using machine learning and impulse responses by local projections.A series of 87 green assets from various classes are considered,namely firms providing renewable energy and carbon offset solutions,carbon and sustainable investing ETFs and green cryptocurrencies.The dataset spans the period from 2015 to 2022 and comprises globally sourced environmental and financial data.The current study examines whether asset prices,returns and trading volumes have an impact on environmental indicators such as temperature(global mean and anomalies)and greenhouse gas concentration.The results indicate that adoption of these green assets does not have a significant environmental impact,suggesting that they should not be used as substitutes for real climate action.This work serves as a cautionary tale on the nexus between green assets and environmental indicators and the results can be used by governments and corporations when formulating climate and ESG strategies.展开更多
The rapid development of vocational colleges in China brings about the explosive growth of the number and category of state-owned assets that guarantees the development of vocational colleges. The special equipment an...The rapid development of vocational colleges in China brings about the explosive growth of the number and category of state-owned assets that guarantees the development of vocational colleges. The special equipment and the general equipment included in the state-owned assets of vocational colleges are increasing at the fastest rate. Based on the problems from equipment inventory, this paper analyzes the problems of state-owned management, and puts forward countermeasures to improve the management of state-owned assets from formulating regulations and rules, strengthening the unified institution, applying the information technologies in building the team of administrators.展开更多
Xin'ao Co.,Ltd.(603889),Iocated in Jiaxing City,Zhejiang Province,is a wellestablished enterprise in the wool textile industry.It focuses on the entire wool textile supply chain,integrating wool procurement,wool t...Xin'ao Co.,Ltd.(603889),Iocated in Jiaxing City,Zhejiang Province,is a wellestablished enterprise in the wool textile industry.It focuses on the entire wool textile supply chain,integrating wool procurement,wool top production,wool top modification,dyeing and finishing,and spinning,After more than thirty years of development,it has gradually formed a large-scale,market-oriented textile eco-system with Xin'ao Co.,Ltd. as the core,with its subsidia ries specializing in different production and sales functions.展开更多
Under climate change, rising frequency and serious extreme weather events have challenged agricultural production. Designing appropriate adaptation measures to the extreme weather events require rigorous and empirical...Under climate change, rising frequency and serious extreme weather events have challenged agricultural production. Designing appropriate adaptation measures to the extreme weather events require rigorous and empirical analysis. The overall goals of this study are to understand physical adaptation measures taken by farmers and the impacts of household and community assets on farmers＇ adaptation when they face drought. The analyses are based on a unique data set collected from a household survey in three provinces in China. The survey results show that though not common on annual basis, some farmers did use physical adaptation measures to fight drought. Regression analysis reveals that both household and community assets significantly affect farmers＇ adaptation behaviors. Improving households＇ social capital and wealth, communities＇ network and access to government＇s anti-drought service can facilitate farmers＇ adaptation to drought. Results indicate that community＇s irrigation infrastructure and physical adaptation taken by farmers can substitute each other. Further analysis shows that the households taking adaptation measures have higher crop yields than those without taking these measures. The paper concludes with several policy implications.展开更多
As the development of the social marketing in China,intangible asset has been highly valued.While in China,this step of improving the intangible asset is just beginning.In 2006,the intangible asset was been modified i...As the development of the social marketing in China,intangible asset has been highly valued.While in China,this step of improving the intangible asset is just beginning.In 2006,the intangible asset was been modified in the new <Corporate Accounting Standard>.It is connected with the international accounting system.Therefore,the intangible asset is the essential point in the company’s success.The essay will study through the accounting problems of intangible asset to analysis that the importance of intangible asset in Chinese companies and the problems that companies should take care of.展开更多
With rapid urbanization and the socio-economic transformation, cultivated land protection has gradually become a major concern in China. The economic compensation plays a crucial role in promoting cultivated land prot...With rapid urbanization and the socio-economic transformation, cultivated land protection has gradually become a major concern in China. The economic compensation plays a crucial role in promoting cultivated land protection and improving the utilization ratio of cultivated land. Farmer household＇s satisfaction has a great influence on the effectiveness of compensation. Therefore, households＇ willingness to select the economic compensation pattern for cultivated land protection has been considered and re-examined. By employing Participatory Rural Appraisal method （PRA）, 3 villages and 392 households were investigated and sampled in mesa and hilly areas of Chongqing. Then a quantitative analysis framework of household livelihood hexagon has been developed to quantify the livelihood assets of differ- ent farmer households. Finally, the Gray Relation Model and Probit Regression Model have been employed to explore the coupling relationship between the household livelihood assets and their compensation pattern options. The results show that there are both qualitative and spatial heterogeneity in household livelihood assets. We found that the inequality of livelihood assets is evident for five household types. There is a spatial trend that the higher the eleva- tion, the less livelihood assets are. In addition, their options of economic compensation pat- tern vary from Chengdu Pattern to Foshan Pattern due to their difference in livelihood assets and difference in location. In detail, there is a coupling relationship between household live- lihood assets and their compensation pattern; negative correlation is observed between natural assets value and household pattern options, while the other livelihood assets have positive impacts on compensation pattern in varying degrees, which from the top are psy- chological assets, human assets, physical assets, financial assets, and social assets respec- tively. A conceptual compensation pattern system has been designed to meet the demands for farmer households mainly according to their shortage in livelihood assets. In addition, compensation method, compensation standard, the basis of compensation and the source of compensation funds have been proposed accordingly.展开更多
Evaluating the effectiveness of protecting nature assets is a vital component of responsive, pro-active management of protected areas. It is important to protect reserves of geological （including fossils） assets as ...Evaluating the effectiveness of protecting nature assets is a vital component of responsive, pro-active management of protected areas. It is important to protect reserves of geological （including fossils） assets as a means to also protect national and natural heritage. At the end of 2013, 2669 protected areas had been established in China and 123 of them are reserves for nature assets. This paper builds an evaluation framework for protection effectiveness of these assets. The current elements and characteristics for effective protection are analyzed, along with an analysis of existing problems so as to construct a scientific approach to protect these assets. The influencing elements and characteristics for effective protection of nature asset reserves are included in an index evaluation system for effective protection in such areas, which contains four parts-target layer, evaluation criteria, evaluation indexes, and evaluation parameters-based on related documents and files. For the target layer, it includes nature asset evaluation and management evaluation. In the end, it is discussed how to build a comprehensive evaluation model and achieve an effective quantitative evaluation.展开更多
Life-cycle cost(LCC)theory can be effectively applied to improve the efficiency and quality of power plant equipment and asset management.However,specific aspects of the LCC calculation and evaluation model require fu...Life-cycle cost(LCC)theory can be effectively applied to improve the efficiency and quality of power plant equipment and asset management.However,specific aspects of the LCC calculation and evaluation model require further research for practical application.This paper proposes an LCC assessment model for the management of electric power plant equipment during its service life.A membership function method based on fuzzy logic is used to improve the allocation of modernization and overhaul projects to multiple equipment assets.An LCC assessment model and evaluation system for power equipment are proposed and successfully applied to the equipment and project management of a Guangzhou power plant in the China Southern Power Grid,providing a decision-making mechanism that facilitates efficient operation and optimal utilization of power plant equipment and assets.展开更多
Over the last decade,a significant increase has been observed in the use of web-based Information systems that process sensitive information,e.g.,personal,financial,medical.With this increased use,the security of such...Over the last decade,a significant increase has been observed in the use of web-based Information systems that process sensitive information,e.g.,personal,financial,medical.With this increased use,the security of such systems became a crucial aspect to ensure safety,integrity and authenticity of the data.To achieve the objectives of data safety,security testing is performed.However,with growth and diversity of information systems,it is challenging to apply security testing for each and every system.Therefore,it is important to classify the assets based on their required level of security using an appropriate technique.In this paper,we propose an asset security classification technique to classify the System Under Test(SUT)based on various factors such as system exposure,data criticality and security requirements.We perform an extensive evaluation of our technique on a sample of 451 information systems.Further,we use security testing on a sample extracted from the resulting prioritized systems to investigate the presence of vulnerabilities.Our technique achieved promising results of successfully assigning security levels to various assets in the tested environments and also found several vulnerabilities in them.展开更多
The security and quality of the livelihood of farmers is of paramount concern in rural areas of China. Livelihood stability would force the related polity to act coordinately while eradicating poverty and promoting re...The security and quality of the livelihood of farmers is of paramount concern in rural areas of China. Livelihood stability would force the related polity to act coordinately while eradicating poverty and promoting resource sustainability. For this study, the livelihood approach was used as a framework of analysis that is based upon Sustainable Livelihoods Framework, the core of which is livelihood assets. Livelihood capitals provide substantial contributions to the well-being of numerous rural dwellers. However, the level and degree of reliance on livelihood capital differ across households. Factors that contribute to the economic reliance of households on a particular economic activity in general and on livelihood capital in particular may vary depending upon the type of resource endowment, household demographic, and economic characteristic as well as exoge- nous factors such as markets, prices, policies, and technologies. This study identifies factors that influence a household＇s live- lihood strategy choice with a particular focus on livelihood assets. The study applies a preliminary investigation concerning the relationship between livelihood assets and livelihood strategies, that is, the allocation of assets. Environmentally augmented household livelihood assets were collected from 300 sample households within the Heihe River Basin. Results show that physical assets possess a maximum value （0.609） for farmers and human assets possess a relatively high value （0.516） fol- lowed by social assets （0.354）. Besides, financial and natural assets possess relatively low values （0.286 and 0.241, respec- tively）. An increment of one unit should reduce the occurrence of choosing non-agricultural activities for natural capital while an increment of one unit should increase the occurrence of choosing non-agricultural activities for financial capital, while other variables remain constant. Governments, therefore, should enhance funding and technological support to achieve livelihood diversity and strengthen the facility of farmers by way of establishing relevant polity. It would enable farmers and provide themselves with the ability and asset reserves to transition from agricultural production to secondary and tertiary industries in order to improve the livelihood of farmers overall.展开更多
Livelihood assets are a matter of high concern for secured survival.Drought-prone Gamo lowland households have differential access to livelihood resources which indicates the varying capacity of resisting to shocks.Th...Livelihood assets are a matter of high concern for secured survival.Drought-prone Gamo lowland households have differential access to livelihood resources which indicates the varying capacity of resisting to shocks.The main objective of this study is to explore the impacts of livelihood assets on livelihood security in the drought-prone Gamo lowlands.Multistage sampling procedures were employed to select the study sites and sample respondents.Primary data of households’capital assets and livelihood security status were produced from 285 survey households,agricultural experts,key informants,focus group discussants,and field observation through transect walks.Descriptive and inferential statistics were used to analyze quantitative data,whereas discussions and annotations were employed for analyzing qualitative data.The Sustainable Livelihoods Framework is used with modifications to schematize the study conceptually.The findings indicated that the study households possessed combinations of livelihood resources differentially.Financial and natural capitals were found to be the most deficient and better-accessed capitals,respectively.The study also showed that lowland residents’access to assets has significant indications of livelihood security.Households’poor access to assets such as financial,information,and social capital demands raised attention of the concerned stakeholders and policy debates in the drought-prone rural setup.Hence,it has been concluded that the more assets are accessed,the stronger the capacity of the households to resist shocks,and better the livelihood security.Accordingly,enhancing people’s access to multiple livelihood assets is suggested to sustainably secure livelihoods.展开更多
The chief production elements of an agricultural enterprise are its biological assets and the choice and practical application of the evaluation methods, as the assets directly affect many aspects： decision making of...The chief production elements of an agricultural enterprise are its biological assets and the choice and practical application of the evaluation methods, as the assets directly affect many aspects： decision making of economic character by the financial statement user, indicators of financial operation analysis, inter-comparison of sector enterprises, assessment of the company value and taxes on its economic activity, and statistical data of the agricultural sector. The authors have used the discounted cash flow （DCF） as an alternative method and a model of system dynamics. Such a system dynamics method has not been used for assessment of biological assets so far. In the operating process, the company acquires or loses possession of the resources. It is vital to analyze the resources to see whether they comply with the concept of the assets and the terms of recognition. It is necessary for the same company as well as for external users of financial statements to get true information about the business and the value of money. Biological assets may be recognized in the company＇s accounting only when it is predictable that future benefits associated with these assets will flow into the enterprise. It is also important that the fair value or the cost can be measured reliably.展开更多
In the field of statistical mechanics and system science, it is acknowledged that the financial crisis has a profound influence on stock market. However, the influence of total asset of enterprise on stock quote was n...In the field of statistical mechanics and system science, it is acknowledged that the financial crisis has a profound influence on stock market. However, the influence of total asset of enterprise on stock quote was not considered in the previous studies. In this work, a modified cross-correlation matrix that focuses on the influence of total asset on stock quote is introduced into the analysis of the stocks collected from Asian and American stock markets, which is different from the previous studies. The key results are obtained as follows. Firstly, stock is more greatly correlated with big asset than with small asset. Secondly, the higher the correlation coefficient among stocks, the larger the eigenvector is. Thirdly, in different periods, like the pre-subprime crisis period and the peak of subprime crisis period, Asian stock quotes show that the component of the third eigenvector of the cross-correlation matrix decreases with the asset of the enterprise decreasing.Fourthly, by simulating the threshold network, the small network constructed by 10 stocks with large assets can show the large network state constructed by 30 stocks. In this research we intend to fully explain the physical mechanism for understanding the historical correlation between stocks and provide risk control strategies in the future.展开更多
In this paper,contribution of sources to the efficiency of Turkish investment trust companies is investigated by eight models which are constructed by different combinations of inputs of DEA analyze structure.Input or...In this paper,contribution of sources to the efficiency of Turkish investment trust companies is investigated by eight models which are constructed by different combinations of inputs of DEA analyze structure.Input oriented CRS based data envelopment analysis(DEA)and also Malmquist Productivity Index are applied for the time period of 2009—2016.Inputs of the CRS model are preferred as financial investments,cash and cash equivalents,cost of sales,and total sales while net profit and net sales are outputs of the models.It is reached at the conclusion that only management of investments is providing better results than only focusing on cash or cost management.In addition,effects and contribution of investment management parameter when it is added to the other ones is found more.展开更多
基金This project is supported by National Natural Science Foundation of China （70873014）.
文摘Based on the analysis of the characteristics of AMC＇s non-performing asset auction, this paper puts forward a model of AMC＇s non-performing asset disposal with the Game Theory thinking, explored the Nash Equilibrium solution to the pricing model of AMC＇s non-performing asset auction, discussed the impact of the actual value of non-performing assets, auction disposal costs and other relevant elements on auction price, analyzed the pricing and decision-making mechanism of AMC＇s non-performing asset auction with Game Theory, and provided a theoretical guide for AMC to auction the non-performing assets in practice.
文摘The non-performing assets of China’s financial institutions totaled RMB l,800 billion. Has this threatened the safety of China’s financial industry? Where do this large amount of nonperforming assets come from?
基金supported by the National Social Science Fund of China(No.22BTJ027).
文摘The COVID-19 pandemic precipitated a surge in the non-performing assets held by financial institutions,elevating systemic risk in financial networks.Therefore,developing strategies to alleviate this risk,with a focus on non-performing assets,has become a research area of interest.Supported by policies related to the Chinese insurance market,this study proposes the establishment of a non-performing assets disposal fund backed by insurance capital.This fund will invest in the non-performing assets of financial institutions with the aim of mitigating systemic risk.Using a linear threshold model,we identify an asymptotically optimal scheme for disposing of nonperforming assets.Additionally,we construct a payment model integrated with nonperforming assets,from which we derive an optimal payment and clearing strategy.Our research also proposes a robust set of criteria to assist regulators in determining whether to use the non-performing assets disposal fund.To demonstrate the efficacy of the fund in reducing systemic risk,we conduct simulations and analyze data from the Chinese interbank financial network.Through this rigorous analysis,we confirm the role of the fund in enhancing the stability of the financial system.
基金financially supported by the National Natural Science Foundation of China(No.12501656)the National Social Science Foundation of China(No.22FGLB075).
文摘Against the backdrop of China’s“Dual Carbon”strategy,the rapid transformation of China’s energy structure is driving the need for structural adjustments in its carbon assets.Investigating the volatility spillovers between climate risks and carbon assets is therefore crucial for optimizing asset allocation,enhancing the green financial system,and mitigating cross-market risk contagion.Using a refined time-varying parameter vector autoregression(TVP-VAR)model,we analyze their time-varying spillover effects on high-carbon(WTI crude oil futures)and low-carbon(the NASDAQ Clean Edge Green Energy Index[CELS])assets.Our results reveal a significant bidirectional spillover relationship between climate risks and carbon assets.Statistically,the climate risks serve as the primary net transmitter of spillovers to both crude oil and the clean energy index.Dynamically,the influence of transition risk on low-carbon assets amplifies markedly during specific episodes,highlighting its acute sensitivity to policy and market signals.A key finding is the considerable hedging capacity of the CELS,which exhibits a 43.6%hedging efficiency against systemic risk in high-carbon assets,an effect that becomes particularly pronounced during periods of intensive policy implementation.This research provides a quantitative basis for investors to design“carbon quota and green bond”portfolios,and for regulators to develop a cross-market early warning mechanism for climate risks.
文摘The objective of this article is to delve into the digital financial asset(DFA)portfolio price of institutional investors,such as hedge funds.The aim is to make a significant contribution by providing methods(statistical methods and fuzzy logic)for investors to identify and select the best long-term portfolio from the pool of 218 digital financial assets that are available in the Russian market.Importantly,companies listed as digital financial asset operators often offer multiple classes of these assets for trading,and as such,investors are only able to trade floating digital financial assets.By the time we reach the conclusion of the year 2024,it has been estimated that the total volume of the Russian DFA market that is currently in circulation will amount to a staggering 1.54 billion USD.Additionally,it is worth noting that 708 different issues are currently actively circulating in the market,showcasing a rather extensive array of options for potential investors.In December alone,an impressive total of 147 new DFAs were introduced and successfully placed,contributing a notable 0.7 billion USD to the market,which is certainly a remarkable feat.The sustainability of the price premium remains uncertain,a consequence of the digital asset market’s inherent volatility and relatively short history.When this volatility is considered,the observed premium lacks statistical significance for the sample period.Therefore,the novelty of this study is the creation of new effective tools for researching the effectiveness of portfolio management for time series,which includes 416 daily observations for the period March 2022–October 2023.
文摘This paper focuses on the optimization of the evaluation index system for the value of transportation infrastructure assets.It analyzes the shortcomings of the current system and explores the directions for optimizing the index system from the perspectives of functionality,economy,social impact,environmental impact,and sustainability.The paper also discusses the application of the optimized index system in practical evaluation and the measures to ensure its effectiveness.The research aims to enhance the evaluation mechanism for the value of transportation infrastructure assets,providing a more scientific basis for decision-making,addressing challenges in asset management,improving the level of asset management in transportation infrastructure,and meeting the demands of high-quality development in the transportation sector in the new era.
文摘This paper examines the environmental impact of green assets using machine learning and impulse responses by local projections.A series of 87 green assets from various classes are considered,namely firms providing renewable energy and carbon offset solutions,carbon and sustainable investing ETFs and green cryptocurrencies.The dataset spans the period from 2015 to 2022 and comprises globally sourced environmental and financial data.The current study examines whether asset prices,returns and trading volumes have an impact on environmental indicators such as temperature(global mean and anomalies)and greenhouse gas concentration.The results indicate that adoption of these green assets does not have a significant environmental impact,suggesting that they should not be used as substitutes for real climate action.This work serves as a cautionary tale on the nexus between green assets and environmental indicators and the results can be used by governments and corporations when formulating climate and ESG strategies.
基金Supported by College-level Research Project of Hangzhou Vocational&Technical College(ky202514).
文摘The rapid development of vocational colleges in China brings about the explosive growth of the number and category of state-owned assets that guarantees the development of vocational colleges. The special equipment and the general equipment included in the state-owned assets of vocational colleges are increasing at the fastest rate. Based on the problems from equipment inventory, this paper analyzes the problems of state-owned management, and puts forward countermeasures to improve the management of state-owned assets from formulating regulations and rules, strengthening the unified institution, applying the information technologies in building the team of administrators.
文摘Xin'ao Co.,Ltd.(603889),Iocated in Jiaxing City,Zhejiang Province,is a wellestablished enterprise in the wool textile industry.It focuses on the entire wool textile supply chain,integrating wool procurement,wool top production,wool top modification,dyeing and finishing,and spinning,After more than thirty years of development,it has gradually formed a large-scale,market-oriented textile eco-system with Xin'ao Co.,Ltd. as the core,with its subsidia ries specializing in different production and sales functions.
基金the National Basic Research Program of China(973 Program,2012CB955700)the National Natural Sciences Foundation of China(70925001,71161140351)+1 种基金the International Development Research Center(107093-001)the Australian Centre for International Agricultural Research(ADP/2010/070)
文摘Under climate change, rising frequency and serious extreme weather events have challenged agricultural production. Designing appropriate adaptation measures to the extreme weather events require rigorous and empirical analysis. The overall goals of this study are to understand physical adaptation measures taken by farmers and the impacts of household and community assets on farmers＇ adaptation when they face drought. The analyses are based on a unique data set collected from a household survey in three provinces in China. The survey results show that though not common on annual basis, some farmers did use physical adaptation measures to fight drought. Regression analysis reveals that both household and community assets significantly affect farmers＇ adaptation behaviors. Improving households＇ social capital and wealth, communities＇ network and access to government＇s anti-drought service can facilitate farmers＇ adaptation to drought. Results indicate that community＇s irrigation infrastructure and physical adaptation taken by farmers can substitute each other. Further analysis shows that the households taking adaptation measures have higher crop yields than those without taking these measures. The paper concludes with several policy implications.
文摘As the development of the social marketing in China,intangible asset has been highly valued.While in China,this step of improving the intangible asset is just beginning.In 2006,the intangible asset was been modified in the new <Corporate Accounting Standard>.It is connected with the international accounting system.Therefore,the intangible asset is the essential point in the company’s success.The essay will study through the accounting problems of intangible asset to analysis that the importance of intangible asset in Chinese companies and the problems that companies should take care of.
基金National Natural Science Foundation of China,No.41371177
文摘With rapid urbanization and the socio-economic transformation, cultivated land protection has gradually become a major concern in China. The economic compensation plays a crucial role in promoting cultivated land protection and improving the utilization ratio of cultivated land. Farmer household＇s satisfaction has a great influence on the effectiveness of compensation. Therefore, households＇ willingness to select the economic compensation pattern for cultivated land protection has been considered and re-examined. By employing Participatory Rural Appraisal method （PRA）, 3 villages and 392 households were investigated and sampled in mesa and hilly areas of Chongqing. Then a quantitative analysis framework of household livelihood hexagon has been developed to quantify the livelihood assets of differ- ent farmer households. Finally, the Gray Relation Model and Probit Regression Model have been employed to explore the coupling relationship between the household livelihood assets and their compensation pattern options. The results show that there are both qualitative and spatial heterogeneity in household livelihood assets. We found that the inequality of livelihood assets is evident for five household types. There is a spatial trend that the higher the eleva- tion, the less livelihood assets are. In addition, their options of economic compensation pat- tern vary from Chengdu Pattern to Foshan Pattern due to their difference in livelihood assets and difference in location. In detail, there is a coupling relationship between household live- lihood assets and their compensation pattern; negative correlation is observed between natural assets value and household pattern options, while the other livelihood assets have positive impacts on compensation pattern in varying degrees, which from the top are psy- chological assets, human assets, physical assets, financial assets, and social assets respec- tively. A conceptual compensation pattern system has been designed to meet the demands for farmer households mainly according to their shortage in livelihood assets. In addition, compensation method, compensation standard, the basis of compensation and the source of compensation funds have been proposed accordingly.
基金Public Projects of Environmental Protection, No.201209028 National Evaluation Standard of Environment Protection Program, No.2011-27 National Natural Science Foundation of China, No.41401632
文摘Evaluating the effectiveness of protecting nature assets is a vital component of responsive, pro-active management of protected areas. It is important to protect reserves of geological （including fossils） assets as a means to also protect national and natural heritage. At the end of 2013, 2669 protected areas had been established in China and 123 of them are reserves for nature assets. This paper builds an evaluation framework for protection effectiveness of these assets. The current elements and characteristics for effective protection are analyzed, along with an analysis of existing problems so as to construct a scientific approach to protect these assets. The influencing elements and characteristics for effective protection of nature asset reserves are included in an index evaluation system for effective protection in such areas, which contains four parts-target layer, evaluation criteria, evaluation indexes, and evaluation parameters-based on related documents and files. For the target layer, it includes nature asset evaluation and management evaluation. In the end, it is discussed how to build a comprehensive evaluation model and achieve an effective quantitative evaluation.
基金the National Natural Science Foundation of China(U1966210).
文摘Life-cycle cost(LCC)theory can be effectively applied to improve the efficiency and quality of power plant equipment and asset management.However,specific aspects of the LCC calculation and evaluation model require further research for practical application.This paper proposes an LCC assessment model for the management of electric power plant equipment during its service life.A membership function method based on fuzzy logic is used to improve the allocation of modernization and overhaul projects to multiple equipment assets.An LCC assessment model and evaluation system for power equipment are proposed and successfully applied to the equipment and project management of a Guangzhou power plant in the China Southern Power Grid,providing a decision-making mechanism that facilitates efficient operation and optimal utilization of power plant equipment and assets.
基金the Higher Education Commission(HEC),Pakistan throughits initiative of National Center for Cyber Security for the affiliated Security Testing-Innovative SecuredSystems Lab(ISSL)established at University of Engineering&Technology(UET)Peshawar,Grant No.2(1078)/HEC/M&E/2018/707.
文摘Over the last decade,a significant increase has been observed in the use of web-based Information systems that process sensitive information,e.g.,personal,financial,medical.With this increased use,the security of such systems became a crucial aspect to ensure safety,integrity and authenticity of the data.To achieve the objectives of data safety,security testing is performed.However,with growth and diversity of information systems,it is challenging to apply security testing for each and every system.Therefore,it is important to classify the assets based on their required level of security using an appropriate technique.In this paper,we propose an asset security classification technique to classify the System Under Test(SUT)based on various factors such as system exposure,data criticality and security requirements.We perform an extensive evaluation of our technique on a sample of 451 information systems.Further,we use security testing on a sample extracted from the resulting prioritized systems to investigate the presence of vulnerabilities.Our technique achieved promising results of successfully assigning security levels to various assets in the tested environments and also found several vulnerabilities in them.
基金supported by General Research on Social Sciences of Ministry of Education of China (Granted No.12YJAZH110)Chinese Natural Science Foundation (No.41171116)the National Natural Science Foundation of China (No. 40971291)
文摘The security and quality of the livelihood of farmers is of paramount concern in rural areas of China. Livelihood stability would force the related polity to act coordinately while eradicating poverty and promoting resource sustainability. For this study, the livelihood approach was used as a framework of analysis that is based upon Sustainable Livelihoods Framework, the core of which is livelihood assets. Livelihood capitals provide substantial contributions to the well-being of numerous rural dwellers. However, the level and degree of reliance on livelihood capital differ across households. Factors that contribute to the economic reliance of households on a particular economic activity in general and on livelihood capital in particular may vary depending upon the type of resource endowment, household demographic, and economic characteristic as well as exoge- nous factors such as markets, prices, policies, and technologies. This study identifies factors that influence a household＇s live- lihood strategy choice with a particular focus on livelihood assets. The study applies a preliminary investigation concerning the relationship between livelihood assets and livelihood strategies, that is, the allocation of assets. Environmentally augmented household livelihood assets were collected from 300 sample households within the Heihe River Basin. Results show that physical assets possess a maximum value （0.609） for farmers and human assets possess a relatively high value （0.516） fol- lowed by social assets （0.354）. Besides, financial and natural assets possess relatively low values （0.286 and 0.241, respec- tively）. An increment of one unit should reduce the occurrence of choosing non-agricultural activities for natural capital while an increment of one unit should increase the occurrence of choosing non-agricultural activities for financial capital, while other variables remain constant. Governments, therefore, should enhance funding and technological support to achieve livelihood diversity and strengthen the facility of farmers by way of establishing relevant polity. It would enable farmers and provide themselves with the ability and asset reserves to transition from agricultural production to secondary and tertiary industries in order to improve the livelihood of farmers overall.
文摘Livelihood assets are a matter of high concern for secured survival.Drought-prone Gamo lowland households have differential access to livelihood resources which indicates the varying capacity of resisting to shocks.The main objective of this study is to explore the impacts of livelihood assets on livelihood security in the drought-prone Gamo lowlands.Multistage sampling procedures were employed to select the study sites and sample respondents.Primary data of households’capital assets and livelihood security status were produced from 285 survey households,agricultural experts,key informants,focus group discussants,and field observation through transect walks.Descriptive and inferential statistics were used to analyze quantitative data,whereas discussions and annotations were employed for analyzing qualitative data.The Sustainable Livelihoods Framework is used with modifications to schematize the study conceptually.The findings indicated that the study households possessed combinations of livelihood resources differentially.Financial and natural capitals were found to be the most deficient and better-accessed capitals,respectively.The study also showed that lowland residents’access to assets has significant indications of livelihood security.Households’poor access to assets such as financial,information,and social capital demands raised attention of the concerned stakeholders and policy debates in the drought-prone rural setup.Hence,it has been concluded that the more assets are accessed,the stronger the capacity of the households to resist shocks,and better the livelihood security.Accordingly,enhancing people’s access to multiple livelihood assets is suggested to sustainably secure livelihoods.
文摘The chief production elements of an agricultural enterprise are its biological assets and the choice and practical application of the evaluation methods, as the assets directly affect many aspects： decision making of economic character by the financial statement user, indicators of financial operation analysis, inter-comparison of sector enterprises, assessment of the company value and taxes on its economic activity, and statistical data of the agricultural sector. The authors have used the discounted cash flow （DCF） as an alternative method and a model of system dynamics. Such a system dynamics method has not been used for assessment of biological assets so far. In the operating process, the company acquires or loses possession of the resources. It is vital to analyze the resources to see whether they comply with the concept of the assets and the terms of recognition. It is necessary for the same company as well as for external users of financial statements to get true information about the business and the value of money. Biological assets may be recognized in the company＇s accounting only when it is predictable that future benefits associated with these assets will flow into the enterprise. It is also important that the fair value or the cost can be measured reliably.
基金Project supported by the National Natural Science Foundation of China(Grant Nos.11705042 and 71874172)the China Postdoctoral Science Foundation(Grant Nos.2018T110040 and 2016M590041)+2 种基金the Fundamental Research Funds for Central Universities,China(Grant No.JZ2018HGTB0238)Curriculum Planning and Design Research Project,China(Grant No.102-033119)the Teaching Quality and Teaching Reform Project,China(Grant No.JYQZ1815)
文摘In the field of statistical mechanics and system science, it is acknowledged that the financial crisis has a profound influence on stock market. However, the influence of total asset of enterprise on stock quote was not considered in the previous studies. In this work, a modified cross-correlation matrix that focuses on the influence of total asset on stock quote is introduced into the analysis of the stocks collected from Asian and American stock markets, which is different from the previous studies. The key results are obtained as follows. Firstly, stock is more greatly correlated with big asset than with small asset. Secondly, the higher the correlation coefficient among stocks, the larger the eigenvector is. Thirdly, in different periods, like the pre-subprime crisis period and the peak of subprime crisis period, Asian stock quotes show that the component of the third eigenvector of the cross-correlation matrix decreases with the asset of the enterprise decreasing.Fourthly, by simulating the threshold network, the small network constructed by 10 stocks with large assets can show the large network state constructed by 30 stocks. In this research we intend to fully explain the physical mechanism for understanding the historical correlation between stocks and provide risk control strategies in the future.
文摘In this paper,contribution of sources to the efficiency of Turkish investment trust companies is investigated by eight models which are constructed by different combinations of inputs of DEA analyze structure.Input oriented CRS based data envelopment analysis(DEA)and also Malmquist Productivity Index are applied for the time period of 2009—2016.Inputs of the CRS model are preferred as financial investments,cash and cash equivalents,cost of sales,and total sales while net profit and net sales are outputs of the models.It is reached at the conclusion that only management of investments is providing better results than only focusing on cash or cost management.In addition,effects and contribution of investment management parameter when it is added to the other ones is found more.
