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Productive Government Debt and Urban Innovation:An Empirical Study Based on Chinese City Panel Data
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作者 Wu Haijun Yang Qijing Yang Zhen 《China Economist》 2025年第4期102-124,共23页
Urban innovation is essential to strengthening national innovation capacity and technological capabilities,placing its sustained development at the heart of scholarly debate.This study explores the impact of productiv... Urban innovation is essential to strengthening national innovation capacity and technological capabilities,placing its sustained development at the heart of scholarly debate.This study explores the impact of productive-oriented local government debt expansion on urban innovation,leveraging China’s“Four Trillion Yuan”stimulus plan in 2008 as a natural experiment and drawing on urban panel data.Through the lens of productive government debt,we find that such expansion significantly boosts urban innovation,driven by three key mechanisms:infrastructure support,government innovation subsidies,and talent agglomeration.However,heterogeneity analysis reveals that this positive effect weakens in China’s central and western regions,cities with higher administrative status,and those with lower marketization levels,where the impact becomes negligible.Further scrutiny shows that local government financing vehicle(LGFV)bonds and special local government bonds earmarked for infrastructure effectively spur urban innovation,whereas general bonds and LGFV bonds used for“borrowing new to repay old”yield little to no benefit.These findings underscore that local government debt,when channeled toward productive ends,can fuel urban innovation.As the central government works to mitigate implicit debt risks,it must weigh the distinct roles of debt funds-considering regional economic conditions and institutional contexts-and tailor policies to time and place.This study offers theoretical insights and practical guidance for decoding the intricate link between government debt and innovation,enriching both scholarship and policy discourse. 展开更多
关键词 Financing platform productive government debt debt expansion urban innovation
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Research on Debt Risk Prevention Strategies for Chinese Financial Institutions
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作者 Yin Danni 《Journal of Frontier in Economic and Management Research》 2025年第1期37-50,共14页
In recent years,many enterprises have been unable to repay debts on schedule due to liquidity constraints,leading to prominent debt risks in financial institutions.To mitigate such risks,this study takes CDL Securitie... In recent years,many enterprises have been unable to repay debts on schedule due to liquidity constraints,leading to prominent debt risks in financial institutions.To mitigate such risks,this study takes CDL Securities as a case example.Empirical analysis is conducted on the interest rate spreads and returns of CDL’s investments in all A-share listed companies in China from 2015 to 2019(based on 2011–2018 stock indices).Based on the findings,specific strategies are proposed,including:improving the debt risk management system,optimizing debt financing structures and capital allocation,and strengthening internal governance and external controls. 展开更多
关键词 economic downturn financial institutions debt risk prevention strategies risk management
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Compare the hydraulic characteristics of triangular weir fishways with different triangular notch angles
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作者 Qing Xu Chun-ying Shen Yu-bin Chen 《Journal of Hydrodynamics》 2025年第4期815-826,共12页
In order to explore the advantages of the triangular weir fishway and the influence of the angle of the triangular weir fishway on fish migration,this paper simulates the internal flow field and free surface of the fi... In order to explore the advantages of the triangular weir fishway and the influence of the angle of the triangular weir fishway on fish migration,this paper simulates the internal flow field and free surface of the fishway by using large eddy simulation(LES)and volume of fluid(VOF)method,respectively,and analyzes the hydraulic characteristics of the triangular weir at the three angles,where for the analysis of turbulent structure,omega(Ω)eddy identification is also used.And based on the analysis results,the length of the pool chamber and the height of obstacles were changed to obtain a more stable flow regime.The results show that the main flow is obvious,the turbulent kinetic energy distribution is regular and small in value,and the angle has an effect on the return flow.The vortex structure mainly existed in the mainstream area with high flow velocity,the air-liquid interface and the porosity,and was distributed transversely.90°triangular weir had the largest vortex structure,and 105°triangular weir had the smallest.75°triangular weir fishway could effectively attenuate the energy of the main stream,and the area of high velocity flow was small,which made the migratory conditions more favorable.Adding obstructions to the mainstem area can reduce flow velocity and turbulent kinetic energy.The triangular weir structure can improve the flow structure of the fishway,and the different angles and water depths provide a variety of flow conditions for a variety of fish migrations,providing new ideas for the fishway. 展开更多
关键词 triangular weir fishway hydraulic characteristics numerical simulation vortex identification
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Triangular Wave tACS Improves Working Memory Performance by Enhancing Brain Activity in the Early Stage of Encoding
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作者 Jianxu Zhang Jian Ouyang +12 位作者 Tiantian Liu Xinyue Wang Binbin Gao Jinyan Zhang Manli Luo Anshun Kang Zilong Yan Li Wang Guangying Pei Shintaro Funahashi Jinglong Wu Jian Zhang Tianyi Yan 《Neuroscience Bulletin》 2025年第7期1213-1228,共16页
Working memory is an executive memory process that includes encoding,maintenance,and retrieval.These processes can be modulated by transcranial alternating current stimulation(tACS)with sinusoidal waves.However,little... Working memory is an executive memory process that includes encoding,maintenance,and retrieval.These processes can be modulated by transcranial alternating current stimulation(tACS)with sinusoidal waves.However,little is known about the impact of the rate of current change on working memory.In this study,we aimed to investigate the effects of two types of tACS with different rates of current change on working memory performance and brain activity.We applied a randomized,single-blind design and divided 81 young participants who received triangular wave tACS,sinusoidal wave tACS,or sham stimulation into three groups.Participants performed n-back tasks,and electroencephalograms were recorded before,during,and after active or sham stimulation.Compared to the baseline,working memory performance(accuracy and response time)improved after stimulation under all stimulation conditions.According to drift-diffusion model analysis,triangular wave tACS significantly increased the efficiency of non-target information processing.In addition,compared with sham conditions,triangular wave tACS reduced alpha power oscillations in the occipital lobe throughout the encoding period,while sinusoidal wave tACS increased theta power in the central frontal region only during the later encoding period.The brain network connectivity results showed that triangular wave tACS improved the clustering coefficient,local efficiency,and node degree intensity in the early encoding stage,and these parameters were positively correlated with the non-target drift rate and decision starting point.Our findings on how tACS modulates working memory indicate that triangular wave tACS significantly enhances brain network connectivity during the early encoding stage,demonstrating an improvement in the efficiency of working memory processing.In contrast,sinusoidal wave tACS increased the theta power during the later encoding stage,suggesting its potential critical role in late-stage information processing.These findings provide valuable insights into the potential mechanisms by which tACS modulates working memory. 展开更多
关键词 Working memory Transcranial alternating current stimulation triangular wave Brain activity
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Amplification of ground vibration on a non-symmetric triangular hill under SH waves
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作者 Zailin Yang Xiaopeng Wei +2 位作者 Yunqiu Song Minghe Li Yong Yang 《Acta Mechanica Sinica》 2025年第6期171-184,共14页
Surface irregularities,such as hills and ridges,can significantly amplify ground motion caused by earthquakes.Therefore,in this study,we propose an analytical solution model to investigate the interaction between an a... Surface irregularities,such as hills and ridges,can significantly amplify ground motion caused by earthquakes.Therefore,in this study,we propose an analytical solution model to investigate the interaction between an asymmetric triangular hill on Earth and SH waves.Firstly,based on the development of wave functions and regional matching techniques,we introduce a semi-circular artificial auxiliary boundary,dividing the solution model into a semi-infinite body containing a semi-circular depression and an asymmetric fan-shaped region.Secondly,we derive the domain function form applicable to solving asymmetric problems.Utilizing the theory of complex variables,we establish a well-posed matrix for solving domain functions within the same coordinate system.Numerical results demonstrate that the scattering of SH waves by a protuberance is jointly influenced by the geometric parameters of the hill and the angle of incidence.Additionally,the frequency of the incident wave also has a certain degree of impact on the displacement amplitude.This study elucidates the scattering mechanism of SH waves by complex boundaries,providing a theoretical reference for building site selection and seismic design.In practical problems,the asymmetric assumption is more applicable than the symmetry assumption. 展开更多
关键词 Analytic solution Non-symmetric triangular hill Scattering of SH Waves Complex function Seismic amplification
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Equilateral Triangular Array Formation Configuration Initialization Control for Space⁃Based Gravitational Wave Observatory
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作者 PAN Zhengxu BANDO Mai +1 位作者 ZHU Zhanxia HOKAMOTO Shinji 《Transactions of Nanjing University of Aeronautics and Astronautics》 2025年第S1期12-25,共14页
This paper presents an analysis of an equilateral triangular array formation initialization for space-based gravitational wave observatory(GWO)near Lagrange points in the circular-restricted three-body problem.A stabl... This paper presents an analysis of an equilateral triangular array formation initialization for space-based gravitational wave observatory(GWO)near Lagrange points in the circular-restricted three-body problem.A stable configuration is essential for the continuous observation of gravitational waves(GWs).However,the motion near the collinear libration points is highly unstable.This problem is examined by output regulation theory.Using the tracking aspect,the equilateral triangular array formation is established in two periods and the fuel consumption is calculated.Furthermore,the natural evolution of the formation without control input is analyzed,and the effective stability duration is quantified to determine the timing of control interventions.Finally,to observe the GWs in same direction with different frequency bands,scale reconfiguration is employed. 展开更多
关键词 space-based gravitational wave observatory equilateral triangular array formation initialization Lagrange point output regulation theory
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Nonlinear Generalized Lie Triple Higher Derivation on Triangular Algebras by Local Actions
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作者 Mengya ZHANG Xinfeng LIANG Minghao WANG 《Journal of Mathematical Research with Applications》 2025年第5期603-628,共26页
Let R be a commutative ring with unity and T be a triangular algebra over R.Let a sequence G={G_n}_(n∈N)of nonlinear mappings G_n:T→T associated with nonlinear Lie triple higher derivations∆={δ_n}_(n∈N)by local ac... Let R be a commutative ring with unity and T be a triangular algebra over R.Let a sequence G={G_n}_(n∈N)of nonlinear mappings G_n:T→T associated with nonlinear Lie triple higher derivations∆={δ_n}_(n∈N)by local actions be a generalized Lie triple higher derivation by local actions satisfying Gn([[x,y],z])=Σ_(i+j+k=n)[[Gi(x),δj(y)],δk(z)]for all x,y,z∈T with xyz=0.Under some mild conditions on T,we prove in this paper that every nonlinear generalized Lie triple higher derivation by local actions on triangular algebras is proper.As an application we shall give a characterization of nonlinear generalized Lie triple higher derivations by local actions on upper triangular matrix algebras and nest algebras,respectively.At the same time,it also improves some interesting conclusions,such as[J.Algebra Appl.22(3),2023,Paper No.2350059],[Axioms,11,2022,1–16]. 展开更多
关键词 generalized Lie triple higher derivation Lie triple higher derivation faithful bimodule local action triangular algebra
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Grand Strategies for Dealing With Chinese Local Government Debts
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作者 Mengzhong Zhang Youwei Qi 《Management Studies》 2017年第2期91-107,共17页
Local governmental debts in China seem to be in a more precarious position than local government debts in the USA. The scale of Chinese local government debts far surpasses that of the USA. Further, Chinese local gove... Local governmental debts in China seem to be in a more precarious position than local government debts in the USA. The scale of Chinese local government debts far surpasses that of the USA. Further, Chinese local government debts appear to be expanding at an alarming rate in the past decade or so. This research focuses on grand strategies for dealing with Chinese local government debts. There are five research questions for this paper: 1) What is the size of the Chinese government debts? 2) Are Chinese local government debts controllable? 3) Who or what caused the rapid increase of the Chinese local government debts? 4) Is it possible to have individual accountability for increasing local government debts in the future? and 5) Will it be helpful to create a local government debt management organization in the Chinese central government? Based on the available literature, this analysis also utilizes in death interviews with 13 government officials, policy analyst, and scholars. First, this paper identifies the size and categories of debts related to Chinese local governments. Then this paper illustrates various ways and methods of Chinese local governments to obtain leverage. After analyzing the causes and origins of these debts, the research demonstrates a potential local systematic risk. By contrast to its advantages and disadvantages, the paper suggests that the local governmental debts need to be constrained. It is important to restrict debt growth in terms of issuing, buying, repurchasing, collateralizing, etc. within a legal framework. With the consideration of political mechanisms in China, the research suggests that the central government establishes a specific organization to help normalize the local governmental debts with the function of supervision and management. The research also believes that it will be an effective way to control the growth of local debts if the central government can hold the relevant top leaders/officials of local governments to be accountable for their performances related to debt accumulation. 展开更多
关键词 debt debt size local government Chinese government individual ACCOUNTABILITY debt managementorganization
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Impact of carbon disclosure on debt financing costs 被引量:1
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作者 Yiming Hu Yunfeng Liang 《Chinese Journal of Population,Resources and Environment》 2024年第1期98-108,共11页
Creditors,such as banks,often use disclosed environmental information to assess a company’s environmental risk and ensure the safety of debt funds.Consequently,carbon disclosures have become an important consideratio... Creditors,such as banks,often use disclosed environmental information to assess a company’s environmental risk and ensure the safety of debt funds.Consequently,carbon disclosures have become an important consideration for creditors when making investments.This study explores the relationship between carbon disclosure and debt financing costs using data on listed companies from 2008 to 2019.The results show that carbon disclosure can reduce the debt financing costs of enterprises,and that this influence is more significant for private companies than for state-owned enterprises.Instrumental variables and Propensity Score Matching(PSM)were used to evaluate the robustness of negative relationships.Furthermore,carbon disclosure has a more significant impact on debt costs with less environmental supervision pressure,weak residents’environmental awareness,and weak product market competition.These findings provide guidance for companies’carbon information disclosure and support the establishment of official carbon disclosure standards. 展开更多
关键词 Carbon disclosure debt financing cost State-owned enterprise Private enterprise
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(m,n)-Igusa-Todorov Algebras,IT-Dimensions and Triangular Matrix Algebras 被引量:1
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作者 Jiyuan TANG Yuanfeng ZHANG Hanpeng GAO 《Journal of Mathematical Research with Applications》 CSCD 2024年第3期337-343,共7页
Let T,U be two Artin algebras and_(U)M_(T)be a U-T-bimodule.In this paper,we get a necessary and sufficient condition such that the formal triangular matrix algebra Λ=(T 0 M U)is(m,n)-Igusa-Todorov when_(U)M,M_(T)are... Let T,U be two Artin algebras and_(U)M_(T)be a U-T-bimodule.In this paper,we get a necessary and sufficient condition such that the formal triangular matrix algebra Λ=(T 0 M U)is(m,n)-Igusa-Todorov when_(U)M,M_(T)are projective.We also study the Igusa-Todorov dimension of Λ.More specifically,it is proved that max{IT.dim T,IT.dim U}≤IT.dim Λ≤min{max{gl.dim T,IT.dim U},max{gl.dim U,IT.dim T}}. 展开更多
关键词 Igusa-Todorov algebras IT-dimensions triangular matrix algebras
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How to Offset Interior Debts in Consolidated Financial Statement for Reformed Group Enterprises
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作者 LI Xiang-zhe ZHANG Li 《Chinese Business Review》 2007年第2期60-63,共4页
The content items to be offset of the reformed debt in consolidated financial statement of the operation occurred inside the group of enterprise is different from other general inner trades such as the sale of the sto... The content items to be offset of the reformed debt in consolidated financial statement of the operation occurred inside the group of enterprise is different from other general inner trades such as the sale of the stock or fixed asset, etc.. Through the reformed debt, the debtor and creditor have erased debt and credit on their bookkeeping. What to be offset are the capital reserve and the changed value of the asset. In this paper, the offsetting method of such items will be discussed. 展开更多
关键词 reformed debt consolidated financial statement asset value
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Misdiagnosis of hemangioma of left triangular ligament of the liver as gastric submucosal stromal tumor:Two case reports 被引量:2
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作者 Jing-Jie Wang Fen-Ming Zhang +4 位作者 Wei Chen Hua-Tuo Zhu Ning-Long Gui Ai-Qing Li Hong-Tan Chen 《World Journal of Gastrointestinal Surgery》 SCIE 2024年第7期2351-2357,共7页
BACKGROUND Extragastric lesions are typically not misdiagnosed as gastric submucosal tumor(SMT).However,we encountered two rare cases where extrinsic lesions were misdiagnosed as gastric SMTs.CASE SUMMARY We describe ... BACKGROUND Extragastric lesions are typically not misdiagnosed as gastric submucosal tumor(SMT).However,we encountered two rare cases where extrinsic lesions were misdiagnosed as gastric SMTs.CASE SUMMARY We describe two cases of gastric SMT-like protrusions initially misdiagnosed as gastric SMTs by the abdominal contrast-enhanced computed tomography(CT)and endoscopic ultrasound(EUS).Based on the CT and EUS findings,the patients underwent gastroscopy;however,no tumor was identified after incising the gastric wall.Subsequent surgical exploration revealed no gastric lesions in both patients,but a mass was found in the left triangular ligament of the liver.The patients underwent laparoscopic tumor resection,and the postoperative diagnosis was hepatic hemangiomas.CONCLUSION During EUS procedures,scanning across different layers and at varying degrees of gastric cavity distension,coupled with meticulous image analysis,has the potential to mitigate the likelihood of such misdiagnoses. 展开更多
关键词 Submucosal tumor Extragastric compression Endoscopic ultrasonography Computed tomography Hemangioma of the left triangular ligament of the liver Case report
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“文化边缘人”视阈下A Debt to Dickens的态度系统研究
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作者 方靓怡 宋军 《现代语言学》 2024年第2期875-880,共6页
本文基于马丁评价理论下的态度系统,对赛珍珠的语篇A Debt to Dickens进行研究。赛珍珠“文化边缘人”的身份,给她的生活带来了很多不安和惆怅,前期在众多东方人面孔的乡村,村民对其异域特色的样貌有许多偏见,因此她多用负面的判断和鉴... 本文基于马丁评价理论下的态度系统,对赛珍珠的语篇A Debt to Dickens进行研究。赛珍珠“文化边缘人”的身份,给她的生活带来了很多不安和惆怅,前期在众多东方人面孔的乡村,村民对其异域特色的样貌有许多偏见,因此她多用负面的判断和鉴赏资源描述了一段孤独的生活;后期其寻找到小说的快乐后,沉迷于阅读的魅力,所以多用正面的判断和鉴赏资源写出了她的明朗。研究发现,全文的判断和鉴赏资源数量较多,情感资源出现较少。态度系统有利于分析文本所暗含的感情走向,给读者理解文本提供了一个新的视角。 展开更多
关键词 文化边缘人 态度系统 赛珍珠 A debt to Dickens
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Quality of Provisions for Bad Debts and Earnings Information Contents
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作者 ZHAN Lei CHEN Xiao-yue 《Journal of Modern Accounting and Auditing》 2007年第2期8-11,共4页
We measure the quality of provisions for bad debts, based on both the cross-sectional and time-series basis. Empirical tests show the impacts on earnings information contents, as well as on the incremental information... We measure the quality of provisions for bad debts, based on both the cross-sectional and time-series basis. Empirical tests show the impacts on earnings information contents, as well as on the incremental information content of cash flows. 展开更多
关键词 accounts receivable provisions for bad debts information contents
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Finite Temperature Magnetism in the Triangular Lattice Antiferromagnet KErTe_(2)
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作者 Weiwei Liu Zheng Zhang +6 位作者 Dayu Yan Jianshu Li Zhitao Zhang Jianting Ji Feng Jin Youguo Shi Qingming Zhang 《Chinese Physics Letters》 SCIE EI CAS CSCD 2024年第9期140-150,共11页
After the discovery of the ARECh_(2)(A=alkali or monovalent ions,RE=rare-earth,Ch=chalcogen)triangular lattice quantum spin liquid(QSL)family,a series of its oxide,sulfide,and selenide counterparts has been consistent... After the discovery of the ARECh_(2)(A=alkali or monovalent ions,RE=rare-earth,Ch=chalcogen)triangular lattice quantum spin liquid(QSL)family,a series of its oxide,sulfide,and selenide counterparts has been consistently reported and extensively investigated.While KErTe_(2) represents the initial synthesized telluride member,preserving its triangular spin lattice,it was anticipated that the substantial tellurium ions could impart more pronounced magnetic attributes and electronic structures to this material class.This study delves into the magnetism of KErTe_(2) at finite temperatures through magnetization and electron spin resonance(ESR)measurements.Based on the angular momentum J after spin-orbit coupling(SOC)and symmetry analysis,we obtain the magnetic effective Hamiltonian to describe the magnetism of Er^(3+)in R3m space group.Applying the mean-field approximation to the Hamiltonian,we can simulate the magnetization and magnetic heat capacity of KErTe_(2) in paramagnetic state and determine the crystalline electric field(CEF)parameters and partial exchange interactions.The relatively narrow energy gaps between the CEF ground state and excited states exert a significant influence on the magnetism.For example,small CEF excitations can result in a significant broadening of the ESR linewidth at 2 K.For the fitted exchange interactions,although the values are small,given a large angular momentum J=15/2 after SOC,they still have a noticeable effect at finite temperatures.Notably,the heat capacity data under different magnetic fields along the𝑐axis direction also roughly match our calculated results,further validating the reliability of our analytical approach.These derived parameters serve as crucial tools for future investigations into the ground state magnetism of KErTe_(2).The findings presented herein lay a foundation for exploration of the intricate magnetism within the triangular-lattice delafossite family. 展开更多
关键词 triangular HAMILTONIAN MAGNETIZATION
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Quantum effect of triple-perovskite antiferromagnets with triangular lattices, A_(3)MB_(2)O_(9) (A = Ba, Ca, and Sr;M = Co, Ni, and Mn;B = Sb, Nb)
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作者 Meng Zhang Mingfang Shu +1 位作者 Xiaoling Shen Jie Ma 《Chinese Physics Letters》 SCIE EI CAS CSCD 2024年第12期181-201,共21页
As a typical two-dimensional frustrated quantum magnet,the triangular-lattice antiferromagnet exhibits a series of exotic states from the complicated interplay of the lattice,spin,electron,and orbit with quantum and t... As a typical two-dimensional frustrated quantum magnet,the triangular-lattice antiferromagnet exhibits a series of exotic states from the complicated interplay of the lattice,spin,electron,and orbit with quantum and thermal fluctuations.From the ground state of a triangular-lattice Heisenberg antiferromagnet with coplanar 120o ordering,a series of magnetization anomalies can manifest under a magnetic field,such as the 1/3 magnetization plateau(Ms/3)and umbrella-shaped phase.This Ms/3 plateau state is recognized as an up-up-down structure stabilized by the quantum effect.By surveying theoretical research and experimental measurements on triangularlattice antiferromagnets,this review article describes the current understanding of the magnetic properties of triple-perovskite antiferromagnets A_(3)MB_(2)O_(9)(A=Ba,Ca,and Sr;M=Co,Ni,and Mn;B=Sb,Nb).Through examining both the bulk properties and spin dynamics,fascinating insights into the quantum effect on the triangular lattice are discussed. 展开更多
关键词 triangular PEROVSKITE quantum
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Facing Bad Debts:To Give Up or To Claim?
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作者 Zhao Fei 《China Textile》 2010年第8期34-37,共4页
'The global financial tsunami of 2008 has affected all major export markets. The situation is much more severe than in previous crises.World trade is seriously affected as the credit crisis has led to an interrupt... 'The global financial tsunami of 2008 has affected all major export markets. The situation is much more severe than in previous crises.World trade is seriously affected as the credit crisis has led to an interruption in the normal 展开更多
关键词 SGA Facing Bad debts BAD
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Does the Hartman effect exist in triangular barriers
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作者 李青玲 郑爽 肖智 《Chinese Physics B》 SCIE EI CAS CSCD 2024年第3期214-230,共17页
We study the phase,Larmor and dwell times of a particle scattered off triangular barriers(TBs).It is interesting that the dependences of dwell,reflective phase and Larmor times on the wave number,barrier width and hei... We study the phase,Larmor and dwell times of a particle scattered off triangular barriers(TBs).It is interesting that the dependences of dwell,reflective phase and Larmor times on the wave number,barrier width and height for a pair of mirror-symmetric(MS)exact triangular barriers(ETBs)are quite different,as the two ETBs have quite distinct scattering surfaces.In comparison,the dependence of the transmitted phase or Larmor times is exactly the same,since the transmitted amplitudes are the same for a pair of MS TBs.We further study the Hartman effect by defining the phase and Larmor velocities associated with the phase and Larmor times.We find no barrier width saturation effect for the transmitted and reflected times.This is indicated by the fact that all the velocities approach finite constants that are much smaller than the speed of light in vacuum for TBs with positive-slope impact faces.As for ETBs with vertical left edges,the naive velocities seem to also indicate the absence of the Hartman effect.These are quite distinct from rectangular barriers and may shed new light on the clarification of the tunneling time issues. 展开更多
关键词 triangular barrier Hartman effect
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RKDG Methods with Multi-resolution WENO Limiters for Solving Steady-State Problems on Triangular Meshes
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作者 Jun Zhu Chi-Wang Shu Jianxian Qiu 《Communications on Applied Mathematics and Computation》 EI 2024年第3期1575-1599,共25页
In this paper, we design high-order Runge-Kutta discontinuous Galerkin (RKDG) methods with multi-resolution weighted essentially non-oscillatory (multi-resolution WENO) limiters to compute compressible steady-state pr... In this paper, we design high-order Runge-Kutta discontinuous Galerkin (RKDG) methods with multi-resolution weighted essentially non-oscillatory (multi-resolution WENO) limiters to compute compressible steady-state problems on triangular meshes. A troubled cell indicator extended from structured meshes to unstructured meshes is constructed to identify triangular cells in which the application of the limiting procedures is required. In such troubled cells, the multi-resolution WENO limiting methods are used to the hierarchical L^(2) projection polynomial sequence of the DG solution. Through using the RKDG methods with multi-resolution WENO limiters, the optimal high-order accuracy can be gradually reduced to first-order in the triangular troubled cells, so that the shock wave oscillations can be well suppressed. In steady-state simulations on triangular meshes, the numerical residual converges to near machine zero. The proposed spatial reconstruction methods enhance the robustness of classical DG methods on triangular meshes. The good results of these RKDG methods with multi-resolution WENO limiters are verified by a series of two-dimensional steady-state problems. 展开更多
关键词 RKDG method Steady-state problem Multi-resolution WENO limiter triangular mesh Machine zero
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State-Owned Capital Participation in Private Enterprises:A Perspective of Debt Financing
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作者 He Dexu Zeng Min Zhang Shuonan 《China Economist》 2024年第1期14-42,共29页
This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study ... This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level. 展开更多
关键词 Mixed-ownership reform reverse mixed-ownership reform state-owned capital debt financing heterogeneous shareholders
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