System optimization model of adoption of a new infrastructure with multi-resource and multi-demand sites

This study develops a conceptual system optimization model of adoption of a new infrastructure technology with multiple resource sites and multiple demand sites. With the model, this paper analyzes how the distance, spillover effect, demand, initial investment cost, and learning rate influence the adoption of the new infrastructure technology and presents optimization results of the model in different scenarios. The main findings of the study are: from the perspective of system optimization, (1) different distances among different resource-demand pairs will result in different adoption time of a new infrastructure; (2) technological spillover among different resource-demand pairs will accelerate the adoption of a new infrastructure; (3) it is hard to say that higher demand will pull faster adoption of a new infrastructure, and the optimal time of adopting of a new infrastructure is very sensitive to its technological learning rate.     

An improved LP model for energy optimization of the integrated iron and steel plant with a cogeneration system in China

In an integrated iron and steel plant with a cogeneration system, recycled energy is continuously transported into the cogeneration system and the electricity is continuously generated, and both of them could not be stored for a long time. Moreover, the generation and consumption of electricity is irregular, which may bring about more unexpected imbalances. Therefore, it is a crucial issue to schedule the entire energy system by optimizing the operation of energy utilization, which includes the raw energy in the production system, the generation electricity in the cogeneration system and the recycled energy in these two systems. In this paper, an improved Linear Programming model for energy optimization in the integrated iron and steel plant with a cogeneration system is established. The improved model focuses on controlling the whole energy flow and scheduling the whole energy consumption in the entire energy system between the production system and cogeneration system through optimizing all kinds of energy distribution and utilization in an integrated iron and steel plant with a cogeneration system. Case study shows that the improved model offers the optimal operation conditions at the higher energy utilization, lower energy cost and lower pollution emissions.     

The effect of corporate governance on debt financing cost of listed companies

In recent years,bank credit business is booming with the increasing borrowing intention of China’s listed companies,and debt financing has become the major approach among listed companies’financing strategies.As a series of institutional arrangements about rights,responsibilities and benefits between different shareholders,corporate governance mechanism has a significant influence on the cost of debt financing.This paper employs variable coefficient panel data model to investigate the relationship of the listed company’s debt financing costs and corporate governance mechanism in terms of structural characteristics and time series characteristics.The results show that optimizing the structure of both Board of Directors and Board of Supervisors,establishing a reasonable management incentive system and reducing the concentration of ownership properly can directly contribute to a lower company’s debt financing costs.Meanwhile,property rights have an interactive influence on corporate governance from four aspects,which indirectly effect in company’s debt financing costs.     

Generalized Multivariate Gumbel Distributions——Dependence,Aging Properties and Applications

This paper introduces a generalized multivariate Gumbel (GMG) distribution using a survival copula. Various dependence properties of the GMG distribution and some analytical properties of the generators of the GMG distribution are studied. Furthermore, the authors also investigate the dependence behavior of the residual lifetime vector of the GMG distribution. As an illustration, the GMG distribution is applied to fit a real data set.     

Bounding the inefficiency of the C-logit stochastic user equilibrium assignment

Compared with standard logit-based stochastic user equilibrium assignment model, the C-logit model describes route choice behavior in a more realistic way by considering the overlapping effect between routes. This paper investigates the inefficiency upper bounds of this model against the deterministic system optimum and the C-logit stochastic system optimum in terms of the total network travel time. It is found that the commonality factor of overlapping routes significantly affects the inefficiency bound, besides link congestion degree, total demand and the number of feasible routes. If the commonality factor is not considered, the efficiency loss resulting from selfishly stochastic travel behavior will be to large extent underestimated.     

An empirical investigation on the risk-return relationship of carbon future market

This paper examines the risk-return relationship for the carbon future market during Phases I, II and III of the European Union Emission Trading Scheme (EU ETS). The risk factors derived from the newly developed LSW model, are embedded into a GARCH framework. This new specification is compared with several GARCH-M type models analyzing the risk-return relationship in the carbon market. The results show that the new specification consistently achieves a good fit and possesses superior explanatory power for the European Union Allowance (EUA) data. Some policy suggestions regarding market efficiency are also provided.     

The complexity and on-line algorithm for automated storage and retrieval system with stacker cranes on one rail

This paper considers an on-line scheduling and routing problem concerning the automated storage and retrieval system from tobacco industry. In this problem, stacker cranes run on one common rail between two racks. Multiple input/output-points are located at the bottom of the racks. The stacker cranes transport bins between the input/output-points and cells on the racks to complete requests generated over time. Each request should be accomplished within its response time. The objective is to minimize the time by which all the generated requests are completed. Under a given physical layout, the authors study the complexity of the problem and design on-line algorithms for both one-stacker-crane model and two-stacker-crane model. The algorithms are validated by instances and numerical simulations.     

Solving the perspective-three-point problem using comprehensive Gröbner systems

A complete solution classification of the perspective-three-point (P3P) problem is given by using the Gröbner basis method. The structure of the solution space of the polynomial system deduced by the P3P problem can be obtained by computing a comprehensive Gröbner system. Combining with properties of the generalized discriminant sequences, the authors give the explicit conditions to determine the number of distinct real positive solutions of the P3P problem. Several examples are provided to illustrate the effectiveness of the proposed conditions.     

Systemic Design for Applying the Combined Use of SSM and CDA to Social Practices

In this paper, we propose a framework for applying the combined use of soft systems methodology (SSM) and critical discourse analysis (CDA) based on social semiotic systemic functional linguistics to social practices. In the social practice, ‘participation’ mode of Checkland’s SSM is used for ‘problem-solving’ whilst CDA is used to problematize ‘problem-solving’ processes within the practice. During the meta-process of problematization of our research, we used Churchman’s systems approach and its theory of ‘boundary critique’ in order to explore issues such as governance, inequality of power, and social values within the organization examined for this study. In other words, the process-oriented methodology proposed in this paper consists of two processes: that of ‘problem-solving’ based on SSM and of problematization of naturalized discourse from the perspective of CDA and two phases of boundary critique in social practice. A detailed account of a case study of Korean social enterprise is given to demonstrate how our proposed framework of the combined use of SSM and CDA is applied into practice. Reflecting the outcome of the case study, this paper argues that critical social research from systemic inquiry using what we call ‘process-oriented methodology’ is useful to address some of the social and complex issues related to understanding dynamic relation between power and discourse amongst participants in the social enterprise in Korean contexts.     

Emergence: A Systems Theory’s Challenge to Ethics

The paper reconstructs Niklas Luhmann’s diagnosis of the dysfunctional character of moral communication in the modern society by emphasizing the emergent character of today’s moral problems. In the systems-theoretic literature, emergence means the irreducibility of the properties of the whole to the characteristics of its parts. Two arguments have been advanced. First, the dysfunctional character of moral communication has been traced back to the emergent character of many moral problems. Moral communication has thus been shown to be not inherently dysfunctional, but rather needful of semantic forms that take account of the emergent properties of the economic and other social systems. Second, these properties highlight the moral aspect of the precariousness of system–environment relations as seen by Luhmann. As a moral problem, this precariousness can be resolved through greater sensitivity of social systems to their environment, social and natural alike. Accordingly, the emergent properties of the economic and other social systems can be captured by recasting the concept of responsibility as the individual-level or organizational-level projection of the environmental sensitivity of these systems.