China’s modern corporate system fuels sustainable growth by merging profit-driven innovation with social responsibility,turning rural villages into prosperous microcosms of equitable development.
This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings ...This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.展开更多
This essay evaluates the behavioural dynamics generated by profit incentives and compares them with those in government-owned and charitable enterprises.Drawing on neoclassical microeconomics,agency theory,and institu...This essay evaluates the behavioural dynamics generated by profit incentives and compares them with those in government-owned and charitable enterprises.Drawing on neoclassical microeconomics,agency theory,and institutional economics,it shows how the profit motive drives cost minimization,allocative efficiency,innovation,and consumer responsiveness.Profit expectations,formalized in endogenous growth models,act as catalysts for technological progress and dynamic efficiency,while agency-theoretic governance mechanisms align managerial incentives with shareholder interests.In contrast,government-owned enterprises operate under multi-objective welfare functions,often constrained by soft budget expectations,political interference,and X-inefficiencies that dilute efficiency.Charitable organizations,structured by the non-distribution constraint,emphasize social trust,equity,and mission fulfilment,supported by warm-glow altruism but constrained by free-rider problems and underfunding.A comparative evaluation suggests that profit-driven firms outperform in competitive markets producing private goods,whereas government and charitable forms play essential roles in addressing market failures and providing public or credence goods.The analysis affirms the institutionalist principle that ownership and governance structures must be aligned with the nature of the goods or services delivered.展开更多
The expansion of renewable energy sources(RESs)in European Union countries has given rise to the development of Renewable Energy Communities(RECs),which aremade up of locally generated energy by these RESs controlled ...The expansion of renewable energy sources(RESs)in European Union countries has given rise to the development of Renewable Energy Communities(RECs),which aremade up of locally generated energy by these RESs controlled by individuals,businesses,enterprises,and public administrations.There are several advantages for creating these RECs and participating in them,which include social,environmental,and financial.Nonetheless,according to the Renewable Energy Directive(RED II),the idea of RECs has given opportunities for researchers to investigate the behavior from all aspects.These RECs are characterized by energy fluxes corresponding to self-consumption,energy sales,and energy sharing.Our work focuses on amathematical time-dependentmodel on an hourly basis that considers the optimization of photovoltaic-based RECs tomaximize profit based on the number of prosumers and consumers,as well as the impact of load profiles on the community’s technical and financial aspects usingMATLAB software.In this work,REC’s users can install their plant and become prosumers or vice versa,and users could change their consumption habits until the optimumconfiguration of REC is obtained.Moreover,this work also focuses on the financial analysis of the plant by comparing the Net Present Value(NPV)as a function of plant size,highlighting the advantage of creating a REC.Numerical results have been obtained investigating the case studies of RECs as per the Italian framework,which shows an optimal distribution of prosumers and consumers and an optimal load profile in which the maximum profitability is obtained.Optimization has been performed by considering different load profiles.Moreover,starting from the optimized configurations,an analysis based on the plant size is also made to maximize the NPV.This work has shown positive outcomes and would be helpful for the researchers and stakeholders while designing the RECs.展开更多
Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of ...Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of its value-added products and their profitability in the North-West Region remains underexplored. This study examined the profitability of maize value-added products in Mezam Division, with the objectives to: 1) identify various maize-based products, 2) assess the diversity of these products, 3) conduct a cost-benefit analysis of selected products, 4) examine the relationship between profitability and product diversity, and 5) identify key constraints impacting profitability. To achieve these objectives, structured questionnaires were administered to 500 small-scale maize entrepreneurs randomly selected from five subdivisions. Descriptive statistics were used to analyze objective 1 and 5, while the Shannon Diversity Index was employed to assess product diversity. Additionally, a cost-benefit analysis was conducted on four selected products namely pap, parched corn, peeled parboiled corn, and corn beer, and a correlation analysis was used to examine objective 4. In total, 13 maize value-added products were identified, with a diversity index of 4.4. The total cost of processing the four selected products per entrepreneur using 18 kg of maize per product was FCFA 83631.5 (US $132.75), while the total revenue was FCFA 121864.5 (US $193.43), resulting in an economic profit of FCFA 38,233 (US $60.69). Pap emerged as the most profitable product, with an economic profit of FCFA 27,875 (US $44.24), while corn beer was the least profitable, with an economic profit of FCFA 2133.46 (US $3.39). The correlation analysis revealed a strong negative relationship between product diversity and profitability (r = −0.91), indicating that entrepreneurs can maximize profitability by focusing on a few high-demand products like pap and parched corn. Key constraints to profitability included fluctuating market prices, high production costs, limited access to finance, and inadequate storage facilities. Despite these challenges, our findings indicate that maize value addition is profitable in Mezam Division. Entrepreneurs can leverage this data for informed decision-making and future investments. It is recommended that the government promote maize value addition and provide financial support for modern processing equipment to boost profitability and income generation.展开更多
On January 3:Hubei Xianhe New Materials Co.,Ltd.Phase I project was officially put into production,with a total investment of 10 billion CNY and a planned pulp and paper production capacity of 2.5 million tons per yea...On January 3:Hubei Xianhe New Materials Co.,Ltd.Phase I project was officially put into production,with a total investment of 10 billion CNY and a planned pulp and paper production capacity of 2.5 million tons per year.On January 10:The pulp and paper project of Huatai Group is accelerating construction.With a total investment of 10.2 billion CNY,after completion,Huatai's newsprint production capacity will be reduced from 1.4 million tons per year to 400000 tons per year,while cultural paper capacity will increase from 100000 tons per yeart to 1.6 million tons per year,achieving annual sales revenue of 19 billion CNY and profits and taxes of 3.2 billion CNY.展开更多
Lianfa Textile(002394) was founded in 1955. After decades of hard work, it has gradually grown into a large-scale textile enterprise with operations ranging from cotton processing to garment production. Its business c...Lianfa Textile(002394) was founded in 1955. After decades of hard work, it has gradually grown into a large-scale textile enterprise with operations ranging from cotton processing to garment production. Its business covers cotton spinning, yarndyed weaving, printing and dyeing, home textiles, knitting, clothing, brands, trade, logistics and new energy, among others. The company's main products include six series: yarn, yarn-dyed fabrics, printed and dyed fabrics, home textile fabrics and clothing.展开更多
In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and ...In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and exceed oil and gas business profits by 2040.Meanwhile,British oil company bp is scaling back its low-carbon business under shareholder pressure,returning to traditional oil and gas operations,and plans to gradually dispose of USD 20 billion worth of low-carbon business assets such as onshore wind farms,aiming to increase oil and gas production to 2.3−2.5 million boe per day by 2030.Two European oil companies are heading in completely different strategic directions.In the future,whether Eni can achieve its expected goals of making renewable energy business a key core business,as well as what development strategies oil and gas companies should implement and adhere to,are questions worthy of deep consideration.展开更多
1 Dr Katrina Wruck,a 30⁃year⁃old scientist from Queensland,was named the 2025 Young Australian of the Year.Dr Katrina Wruck started the profit⁃for⁃purpose business Nguki Kula Green Labs to create sustainable solutions...1 Dr Katrina Wruck,a 30⁃year⁃old scientist from Queensland,was named the 2025 Young Australian of the Year.Dr Katrina Wruck started the profit⁃for⁃purpose business Nguki Kula Green Labs to create sustainable solutions to a healthier planet.Its flagship project is the worlds first reusable laundry system,which transforms low-value rocks into eco-friendly detergent(洗涤剂).展开更多
Under the impetus of the“Dual Credit”policy,traditional fuel vehicle manufacturers are confronted with significant pressure to meet new energy vehicle credit requirements.To address this challenge,these manufacturer...Under the impetus of the“Dual Credit”policy,traditional fuel vehicle manufacturers are confronted with significant pressure to meet new energy vehicle credit requirements.To address this challenge,these manufacturers are increasingly adopting the Original Design Manufacturer(ODM)strategy to collaborate with new energy vehicle enterprises,thereby acquiring credits and expanding their market presence.However,this strategic approach not only intensifies competition between new energy and traditional fuel vehicle markets but also reshapes the profit distribution between the two types of firms.Drawing upon the framework of the Dual Credit policy,this study establishes a Cournot game model to examine the strategic interactions between traditional fuel vehicle manufacturers and new energy vehicle producers.It further investigates the optimal production decisions under the ODM strategy and evaluates their implications for market dynamics and corporate profitability.The findings reveal that,although the ODM strategy heightens market competition,it leads to substantial profit improvements for both types of manufacturers compared to the alternative of directly purchasing credits,while also fostering the growth of the new energy vehicle sector.Moreover,the Case study demonstrates micro-level impact of the dual credit policy on enterprises’response strategies,offering valuable insights for policymakers and industry decision-makers.展开更多
The African continent habituated with volatile conflicts and protracted violence,be it intra-state or inter-state is also acquainted with multi-ethnic tensions breeding different militias.The trend,although not new,is...The African continent habituated with volatile conflicts and protracted violence,be it intra-state or inter-state is also acquainted with multi-ethnic tensions breeding different militias.The trend,although not new,is the expanding phenomenon of Jihadism and general terrorism.Some of these and other forms of conflicts summarize the geopolitics of Africa’s Great Lakes Region(AGLR).The bloodbath wherein the subregion engrosses itself is not solely guided by political considerations.Both endogenous and exogenous capitalist economic profit have stirred the system while ethnic politics and politics on ethnic leanings have amplified the scenario.The endeavors of both the international community and regional blocs appear deficient-a consequence of the frailty of the UN system and general multilateralism.Peace is possible for AGLR when humanity is placed over the tidal wave of capitalist profit,patriotism over toxic ethnicity and respect is accorded to international jurisprudence emblemed by the bona fide principle of pacta sunt Servanda,without neglecting the capacity of the youth and peace education.展开更多
Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has ...Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has experienced explosive growth,which has spurred a surge in the construction of domestic charging infrastructure.Charging infrastructure not only supports achieving dual carbon goals and the development of the new energy vehicle industry but also undertakes the new historical mission of infrastructure in China’s new development stage,becoming a crucial infrastructure connecting energy decarbonization and transportation electrification[1].In recent years,central and local governments have placed great emphasis on this field.They have introduced policies from various angles,including comprehensive macro-level measures,government planning,financial subsidies,charging rates,industry management,and scientific and technological innovation,to promote the moderately advanced development of charging facilities.展开更多
The expansion strategy is an important tool for enterprises to achieve growth and transformation,but it may lead to a lack of liquidity and thus a rapid decline.Does liquidity have a backfire effect on profits and thu...The expansion strategy is an important tool for enterprises to achieve growth and transformation,but it may lead to a lack of liquidity and thus a rapid decline.Does liquidity have a backfire effect on profits and thus lead to enterprise decline?Based on the life cycle theory,the empirical study of 72 ST-listed companies in China from 2010 to 2020 shows that liquidity is significantly and positively correlated with profits during the expansion period and negatively correlated with profits during the recession period,and the effect becomes larger as the characteristics of enterprise life cycle change gradually.The study also shows that profit and liquidity risk do not necessarily follow the principle of equal increase or decrease in different periods,which provides a new path for enterprise to strengthen liquidity risk management.展开更多
[Objective] The aim was to explore key technology to cultivate Holotdchia diomphalia larvae with Agaricus bisporus residues and to provide, technologicar sup- ports for processing of Agaricus bisporus residues. [Metho...[Objective] The aim was to explore key technology to cultivate Holotdchia diomphalia larvae with Agaricus bisporus residues and to provide, technologicar sup- ports for processing of Agaricus bisporus residues. [Method] In the research, fodder thickness, population density and residues under different treatments were set to re- search effects on Holotrichia diomphalia larvae. [Result] The optimal thickness of fodder was 25 cm and the optimal feeding density was 44-56 larvae per hectare. The dry residues were more suitable, compared with decomposed residues and corn bran powders, for cultivation of Holotrichia diomphalia larvae. [Conclusion] Cultivation of Holotrichia diomphalia larvae with Agaricus bisporus residues is a new method to make use of Agaricus bisporus residues and of significance for extension of agricul- tural circulation chain, increase of economic benefits and ecological benefits.展开更多
The research performed analysis on causes of asymmetric information of agricultural product supply chain and made conclusion on operation mechanism and characteristics of supply chain based on asymmetric information. ...The research performed analysis on causes of asymmetric information of agricultural product supply chain and made conclusion on operation mechanism and characteristics of supply chain based on asymmetric information. Finally, the research detailed profit sharing of agricultural product supply chain in the context of asymmetric information and proposed suggestions, providing references of pricing and profit sharing of supply chains of agricultural products.展开更多
文摘China’s modern corporate system fuels sustainable growth by merging profit-driven innovation with social responsibility,turning rural villages into prosperous microcosms of equitable development.
文摘This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.
文摘This essay evaluates the behavioural dynamics generated by profit incentives and compares them with those in government-owned and charitable enterprises.Drawing on neoclassical microeconomics,agency theory,and institutional economics,it shows how the profit motive drives cost minimization,allocative efficiency,innovation,and consumer responsiveness.Profit expectations,formalized in endogenous growth models,act as catalysts for technological progress and dynamic efficiency,while agency-theoretic governance mechanisms align managerial incentives with shareholder interests.In contrast,government-owned enterprises operate under multi-objective welfare functions,often constrained by soft budget expectations,political interference,and X-inefficiencies that dilute efficiency.Charitable organizations,structured by the non-distribution constraint,emphasize social trust,equity,and mission fulfilment,supported by warm-glow altruism but constrained by free-rider problems and underfunding.A comparative evaluation suggests that profit-driven firms outperform in competitive markets producing private goods,whereas government and charitable forms play essential roles in addressing market failures and providing public or credence goods.The analysis affirms the institutionalist principle that ownership and governance structures must be aligned with the nature of the goods or services delivered.
文摘The expansion of renewable energy sources(RESs)in European Union countries has given rise to the development of Renewable Energy Communities(RECs),which aremade up of locally generated energy by these RESs controlled by individuals,businesses,enterprises,and public administrations.There are several advantages for creating these RECs and participating in them,which include social,environmental,and financial.Nonetheless,according to the Renewable Energy Directive(RED II),the idea of RECs has given opportunities for researchers to investigate the behavior from all aspects.These RECs are characterized by energy fluxes corresponding to self-consumption,energy sales,and energy sharing.Our work focuses on amathematical time-dependentmodel on an hourly basis that considers the optimization of photovoltaic-based RECs tomaximize profit based on the number of prosumers and consumers,as well as the impact of load profiles on the community’s technical and financial aspects usingMATLAB software.In this work,REC’s users can install their plant and become prosumers or vice versa,and users could change their consumption habits until the optimumconfiguration of REC is obtained.Moreover,this work also focuses on the financial analysis of the plant by comparing the Net Present Value(NPV)as a function of plant size,highlighting the advantage of creating a REC.Numerical results have been obtained investigating the case studies of RECs as per the Italian framework,which shows an optimal distribution of prosumers and consumers and an optimal load profile in which the maximum profitability is obtained.Optimization has been performed by considering different load profiles.Moreover,starting from the optimized configurations,an analysis based on the plant size is also made to maximize the NPV.This work has shown positive outcomes and would be helpful for the researchers and stakeholders while designing the RECs.
文摘Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of its value-added products and their profitability in the North-West Region remains underexplored. This study examined the profitability of maize value-added products in Mezam Division, with the objectives to: 1) identify various maize-based products, 2) assess the diversity of these products, 3) conduct a cost-benefit analysis of selected products, 4) examine the relationship between profitability and product diversity, and 5) identify key constraints impacting profitability. To achieve these objectives, structured questionnaires were administered to 500 small-scale maize entrepreneurs randomly selected from five subdivisions. Descriptive statistics were used to analyze objective 1 and 5, while the Shannon Diversity Index was employed to assess product diversity. Additionally, a cost-benefit analysis was conducted on four selected products namely pap, parched corn, peeled parboiled corn, and corn beer, and a correlation analysis was used to examine objective 4. In total, 13 maize value-added products were identified, with a diversity index of 4.4. The total cost of processing the four selected products per entrepreneur using 18 kg of maize per product was FCFA 83631.5 (US $132.75), while the total revenue was FCFA 121864.5 (US $193.43), resulting in an economic profit of FCFA 38,233 (US $60.69). Pap emerged as the most profitable product, with an economic profit of FCFA 27,875 (US $44.24), while corn beer was the least profitable, with an economic profit of FCFA 2133.46 (US $3.39). The correlation analysis revealed a strong negative relationship between product diversity and profitability (r = −0.91), indicating that entrepreneurs can maximize profitability by focusing on a few high-demand products like pap and parched corn. Key constraints to profitability included fluctuating market prices, high production costs, limited access to finance, and inadequate storage facilities. Despite these challenges, our findings indicate that maize value addition is profitable in Mezam Division. Entrepreneurs can leverage this data for informed decision-making and future investments. It is recommended that the government promote maize value addition and provide financial support for modern processing equipment to boost profitability and income generation.
文摘On January 3:Hubei Xianhe New Materials Co.,Ltd.Phase I project was officially put into production,with a total investment of 10 billion CNY and a planned pulp and paper production capacity of 2.5 million tons per year.On January 10:The pulp and paper project of Huatai Group is accelerating construction.With a total investment of 10.2 billion CNY,after completion,Huatai's newsprint production capacity will be reduced from 1.4 million tons per year to 400000 tons per year,while cultural paper capacity will increase from 100000 tons per yeart to 1.6 million tons per year,achieving annual sales revenue of 19 billion CNY and profits and taxes of 3.2 billion CNY.
文摘Lianfa Textile(002394) was founded in 1955. After decades of hard work, it has gradually grown into a large-scale textile enterprise with operations ranging from cotton processing to garment production. Its business covers cotton spinning, yarndyed weaving, printing and dyeing, home textiles, knitting, clothing, brands, trade, logistics and new energy, among others. The company's main products include six series: yarn, yarn-dyed fabrics, printed and dyed fabrics, home textile fabrics and clothing.
文摘In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and exceed oil and gas business profits by 2040.Meanwhile,British oil company bp is scaling back its low-carbon business under shareholder pressure,returning to traditional oil and gas operations,and plans to gradually dispose of USD 20 billion worth of low-carbon business assets such as onshore wind farms,aiming to increase oil and gas production to 2.3−2.5 million boe per day by 2030.Two European oil companies are heading in completely different strategic directions.In the future,whether Eni can achieve its expected goals of making renewable energy business a key core business,as well as what development strategies oil and gas companies should implement and adhere to,are questions worthy of deep consideration.
文摘1 Dr Katrina Wruck,a 30⁃year⁃old scientist from Queensland,was named the 2025 Young Australian of the Year.Dr Katrina Wruck started the profit⁃for⁃purpose business Nguki Kula Green Labs to create sustainable solutions to a healthier planet.Its flagship project is the worlds first reusable laundry system,which transforms low-value rocks into eco-friendly detergent(洗涤剂).
文摘Under the impetus of the“Dual Credit”policy,traditional fuel vehicle manufacturers are confronted with significant pressure to meet new energy vehicle credit requirements.To address this challenge,these manufacturers are increasingly adopting the Original Design Manufacturer(ODM)strategy to collaborate with new energy vehicle enterprises,thereby acquiring credits and expanding their market presence.However,this strategic approach not only intensifies competition between new energy and traditional fuel vehicle markets but also reshapes the profit distribution between the two types of firms.Drawing upon the framework of the Dual Credit policy,this study establishes a Cournot game model to examine the strategic interactions between traditional fuel vehicle manufacturers and new energy vehicle producers.It further investigates the optimal production decisions under the ODM strategy and evaluates their implications for market dynamics and corporate profitability.The findings reveal that,although the ODM strategy heightens market competition,it leads to substantial profit improvements for both types of manufacturers compared to the alternative of directly purchasing credits,while also fostering the growth of the new energy vehicle sector.Moreover,the Case study demonstrates micro-level impact of the dual credit policy on enterprises’response strategies,offering valuable insights for policymakers and industry decision-makers.
文摘The African continent habituated with volatile conflicts and protracted violence,be it intra-state or inter-state is also acquainted with multi-ethnic tensions breeding different militias.The trend,although not new,is the expanding phenomenon of Jihadism and general terrorism.Some of these and other forms of conflicts summarize the geopolitics of Africa’s Great Lakes Region(AGLR).The bloodbath wherein the subregion engrosses itself is not solely guided by political considerations.Both endogenous and exogenous capitalist economic profit have stirred the system while ethnic politics and politics on ethnic leanings have amplified the scenario.The endeavors of both the international community and regional blocs appear deficient-a consequence of the frailty of the UN system and general multilateralism.Peace is possible for AGLR when humanity is placed over the tidal wave of capitalist profit,patriotism over toxic ethnicity and respect is accorded to international jurisprudence emblemed by the bona fide principle of pacta sunt Servanda,without neglecting the capacity of the youth and peace education.
文摘Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has experienced explosive growth,which has spurred a surge in the construction of domestic charging infrastructure.Charging infrastructure not only supports achieving dual carbon goals and the development of the new energy vehicle industry but also undertakes the new historical mission of infrastructure in China’s new development stage,becoming a crucial infrastructure connecting energy decarbonization and transportation electrification[1].In recent years,central and local governments have placed great emphasis on this field.They have introduced policies from various angles,including comprehensive macro-level measures,government planning,financial subsidies,charging rates,industry management,and scientific and technological innovation,to promote the moderately advanced development of charging facilities.
文摘The expansion strategy is an important tool for enterprises to achieve growth and transformation,but it may lead to a lack of liquidity and thus a rapid decline.Does liquidity have a backfire effect on profits and thus lead to enterprise decline?Based on the life cycle theory,the empirical study of 72 ST-listed companies in China from 2010 to 2020 shows that liquidity is significantly and positively correlated with profits during the expansion period and negatively correlated with profits during the recession period,and the effect becomes larger as the characteristics of enterprise life cycle change gradually.The study also shows that profit and liquidity risk do not necessarily follow the principle of equal increase or decrease in different periods,which provides a new path for enterprise to strengthen liquidity risk management.
基金Supported by the National Key Technology R&D Program (2007BAD89B09-10)National Public Service Project (200803033-A0903)~~
文摘[Objective] The aim was to explore key technology to cultivate Holotdchia diomphalia larvae with Agaricus bisporus residues and to provide, technologicar sup- ports for processing of Agaricus bisporus residues. [Method] In the research, fodder thickness, population density and residues under different treatments were set to re- search effects on Holotrichia diomphalia larvae. [Result] The optimal thickness of fodder was 25 cm and the optimal feeding density was 44-56 larvae per hectare. The dry residues were more suitable, compared with decomposed residues and corn bran powders, for cultivation of Holotrichia diomphalia larvae. [Conclusion] Cultivation of Holotrichia diomphalia larvae with Agaricus bisporus residues is a new method to make use of Agaricus bisporus residues and of significance for extension of agricul- tural circulation chain, increase of economic benefits and ecological benefits.
基金Supported by S&T Development Strategy Program of Tianjin(15ZLZLZF00210)S&T Development Strategy Program of Tianjin(15ZLZLZF00390)~~
文摘The research performed analysis on causes of asymmetric information of agricultural product supply chain and made conclusion on operation mechanism and characteristics of supply chain based on asymmetric information. Finally, the research detailed profit sharing of agricultural product supply chain in the context of asymmetric information and proposed suggestions, providing references of pricing and profit sharing of supply chains of agricultural products.
