Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35085
Xia Wang, Lingzhi Li
With the signing of the China-Korea bilateral free trade agreement in 2015, the relationship between China and South Korea's trading partners has been further clarified. However, China's trade account with South Korea has been in deficit for successive years, and as South Korea's direct investment in China has increased, the deficit has become more apparent. Based on the introduction of the status of South Korea's direct investment in China and China-South Korea trade, this article analyzes the theoretical mechanism and empirical analysis of the impact of South Korea's direct investment in China on the China-South Korea trade deficit, and makes relevant suggestions for reducing the China-South Korea trade deficit.
{"title":"The Analysis of Impact of Korean Direct Investment in China on the China-South Korea Trade Deficit","authors":"Xia Wang, Lingzhi Li","doi":"10.12783/dtetr/mcaee2020/35085","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35085","url":null,"abstract":"With the signing of the China-Korea bilateral free trade agreement in 2015, the relationship between China and South Korea's trading partners has been further clarified. However, China's trade account with South Korea has been in deficit for successive years, and as South Korea's direct investment in China has increased, the deficit has become more apparent. Based on the introduction of the status of South Korea's direct investment in China and China-South Korea trade, this article analyzes the theoretical mechanism and empirical analysis of the impact of South Korea's direct investment in China on the China-South Korea trade deficit, and makes relevant suggestions for reducing the China-South Korea trade deficit.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"324 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77946504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35103
Lin Chen
Inspired by recent academic advancement as well as real-world cases on hedge fund activism, the main purpose of this paper is to verify the potential effects of hedge fund activism on target firm’s CEO compensation. We used Propensity Score Matching and Difference-in-Differences approach to conduct the statistical analysis based on 835 analyzed samples. We found that the difference between the previous CEO pay level before hedge fund’s intervention and the post CEO pay level after hedge fund’s intervention for target firms is smaller compared to that for non-target firms. The result provides new evidence for the argument that the hedge fund’s intervention can be effective in suppressing the increase in CEO pay in hedge fund’s target firm. The study reveals a possibility that the hedge fund’s involvement in target firm can be viewed as a solution to adjust the executive pay to the reasonable level and make the executive compensation structure more based on company performance.
{"title":"Analysis of the Effect of Hedge Fund Activism on Target Firm’s CEO Compensation","authors":"Lin Chen","doi":"10.12783/dtetr/mcaee2020/35103","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35103","url":null,"abstract":"Inspired by recent academic advancement as well as real-world cases on hedge fund activism, the main purpose of this paper is to verify the potential effects of hedge fund activism on target firm’s CEO compensation. We used Propensity Score Matching and Difference-in-Differences approach to conduct the statistical analysis based on 835 analyzed samples. We found that the difference between the previous CEO pay level before hedge fund’s intervention and the post CEO pay level after hedge fund’s intervention for target firms is smaller compared to that for non-target firms. The result provides new evidence for the argument that the hedge fund’s intervention can be effective in suppressing the increase in CEO pay in hedge fund’s target firm. The study reveals a possibility that the hedge fund’s involvement in target firm can be viewed as a solution to adjust the executive pay to the reasonable level and make the executive compensation structure more based on company performance.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76230823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35044
Rui Guo, Yongjun Peng, Anping Wan, Lihua Wu, Ningdong You
In order to reduce the high costs of Communication Equipment operation and maintenance management, a novel residual life prediction method for Communication Equipment based on multi- environmental time similarity (METS) theory was proposed to make scientific and reasonable cost maintenance strategy of Communication Equipment. This method has introduced a reference Communication Equipment which has similar operational environment and type of the object Communication Equipment to obtain similarity coefficient (running hours and start/stop cycles) of the reference unit life evaluation parameters under actual operation conditions and benchmark operation conditions by using experience operational data. Based on the METS theory, the object unit factored running hours and start/stop cycles under benchmark operative conditions were obtained through calculating its actual running hours and start/stop cycles under actual operational conditions. And then the object unit residual life was predicted by comparing with maximum maintenance interval. Finally, a factory Communication Equipment HGP component residual life prediction is provided as the example to verify the scientific validity and feasibility of the prediction method.
{"title":"Communication Equipment Residual Life Prediction Method Based on Multi-environmental Time Similarity Theory","authors":"Rui Guo, Yongjun Peng, Anping Wan, Lihua Wu, Ningdong You","doi":"10.12783/dtetr/mcaee2020/35044","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35044","url":null,"abstract":"In order to reduce the high costs of Communication Equipment operation and maintenance management, a novel residual life prediction method for Communication Equipment based on multi- environmental time similarity (METS) theory was proposed to make scientific and reasonable cost maintenance strategy of Communication Equipment. This method has introduced a reference Communication Equipment which has similar operational environment and type of the object Communication Equipment to obtain similarity coefficient (running hours and start/stop cycles) of the reference unit life evaluation parameters under actual operation conditions and benchmark operation conditions by using experience operational data. Based on the METS theory, the object unit factored running hours and start/stop cycles under benchmark operative conditions were obtained through calculating its actual running hours and start/stop cycles under actual operational conditions. And then the object unit residual life was predicted by comparing with maximum maintenance interval. Finally, a factory Communication Equipment HGP component residual life prediction is provided as the example to verify the scientific validity and feasibility of the prediction method.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"29 4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87821238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35102
Rongrong Zhao, Lanting Liu
Based on the data of Guangdong furniture export from 2009 to 2019, this paper analyzes the amount, structure and market of Guangdong furniture export. It is found that Guangdong Province, as a major furniture export province in China, its export growth rate is slowing down, the export structure is unreasonable, and the export market is too concentrated. However, trade barriers, lack of famous furniture brands and imperfect policies are the main factors that restrict its export. Therefore, it is an inevitable choice for the sustainable development of furniture export in Guangdong Province to improve the environmental protection level of products, create famous brands and improve relevant policies.
{"title":"The Current Situation, Problems and Countermeasures of Furniture Export in Guangdong Province","authors":"Rongrong Zhao, Lanting Liu","doi":"10.12783/dtetr/mcaee2020/35102","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35102","url":null,"abstract":"Based on the data of Guangdong furniture export from 2009 to 2019, this paper analyzes the amount, structure and market of Guangdong furniture export. It is found that Guangdong Province, as a major furniture export province in China, its export growth rate is slowing down, the export structure is unreasonable, and the export market is too concentrated. However, trade barriers, lack of famous furniture brands and imperfect policies are the main factors that restrict its export. Therefore, it is an inevitable choice for the sustainable development of furniture export in Guangdong Province to improve the environmental protection level of products, create famous brands and improve relevant policies.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87339026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35080
Panyi Li, Aochen Cao, Dan Hu
This paper focused on the relationship between the orientation of an apartment and its property value. Firstly, we used Hedonic model to decompose the characteristic prices of an apartment, and adopted FGLS to estimate the regression parameters to avoid the adverse consequences caused by heteroscedasticity phenomenon. The empirical result shows that the orientation is not the key factor in the demander’s purchase process. Secondly, in the same community, we selected samples facing south and non-south as a test group and a control group. Through paired regression analysis, we find that in Chongqing’s second-hand housing market, compared to the apartment having no south-facing orientation, those with it on average are valued only 1.42% .It is suggested that the evaluation practice should pay more attention to the orientation characteristics and measure orientation value according to local conditions.
{"title":"Southward Premium: The Case of Chongqing, China","authors":"Panyi Li, Aochen Cao, Dan Hu","doi":"10.12783/dtetr/mcaee2020/35080","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35080","url":null,"abstract":"This paper focused on the relationship between the orientation of an apartment and its property value. Firstly, we used Hedonic model to decompose the characteristic prices of an apartment, and adopted FGLS to estimate the regression parameters to avoid the adverse consequences caused by heteroscedasticity phenomenon. The empirical result shows that the orientation is not the key factor in the demander’s purchase process. Secondly, in the same community, we selected samples facing south and non-south as a test group and a control group. Through paired regression analysis, we find that in Chongqing’s second-hand housing market, compared to the apartment having no south-facing orientation, those with it on average are valued only 1.42% .It is suggested that the evaluation practice should pay more attention to the orientation characteristics and measure orientation value according to local conditions.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"487 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80140943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35092
Yicheng Chen
The price of oil, known as "black gold", has always attracted the attention of countries around the world. It is already a consensus that international oil prices affect economic operations, and naturally will affect the stock market which is regarded as a barometer of economic operations. The purpose of writing this article is to reveal the impact of international crude oil price fluctuations on China's stock market. In order to solve this problem, the author of this paper selected two sets of time series of Brent crude oil spot price and Shanghai Stock Index, and used Eviews software to perform various econometric tests such as cointegration test, Granger causality test, impulse response function, and decomposition of variance. It is found that there is a long-term stable cointegration relationship between the international oil price and the Shanghai Stock Index, and that the international oil price is the Granger cause of the Shanghai Stock Index. Furthermore, the former has a positive dynamic impact on the latter as a whole. It reached its maximum by the middle of the third month, and then slowly decreased to stabilize. Compared with the results of other similar studies, this article draws more accurate conclusions thanks to the latest, more realistic data without much artificial processing. The conclusions of this paper can help stock investors and economic decision makers to make more effective decisions.
{"title":"Empirical Analysis of the Impact of International Crude Oil Price Fluctuation on China's Stock Market","authors":"Yicheng Chen","doi":"10.12783/dtetr/mcaee2020/35092","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35092","url":null,"abstract":"The price of oil, known as \"black gold\", has always attracted the attention of countries around the world. It is already a consensus that international oil prices affect economic operations, and naturally will affect the stock market which is regarded as a barometer of economic operations. The purpose of writing this article is to reveal the impact of international crude oil price fluctuations on China's stock market. In order to solve this problem, the author of this paper selected two sets of time series of Brent crude oil spot price and Shanghai Stock Index, and used Eviews software to perform various econometric tests such as cointegration test, Granger causality test, impulse response function, and decomposition of variance. It is found that there is a long-term stable cointegration relationship between the international oil price and the Shanghai Stock Index, and that the international oil price is the Granger cause of the Shanghai Stock Index. Furthermore, the former has a positive dynamic impact on the latter as a whole. It reached its maximum by the middle of the third month, and then slowly decreased to stabilize. Compared with the results of other similar studies, this article draws more accurate conclusions thanks to the latest, more realistic data without much artificial processing. The conclusions of this paper can help stock investors and economic decision makers to make more effective decisions.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84545578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35068
Meng-xin Li, Wen Ge, Wen-zhen Hou, Jun Wu
. With the diversification and individual development of the economy, enterprise competition tends to be international, and traditional production line has disadvantages in terms of efficiency and labor costs. This paper considers reducing workers to reduce labor costs in line-seru. It also considers reducing the number of workers without increasing the manufacturing period of the product to ensure timely delivery. This paper proposes a multi-objective model to solve the problem of reducing the number of workers and not increasing the manufacturing period. The variable length coding heuristic algorithm is used to solve the model. This algorithm is not only suitable for the case of fewer workers, but also has good applicability to medium and large-scale problems.
{"title":"Research on Personnel Allocation Strategies of Reducing Workers in Divisional Seru","authors":"Meng-xin Li, Wen Ge, Wen-zhen Hou, Jun Wu","doi":"10.12783/dtetr/mcaee2020/35068","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35068","url":null,"abstract":". With the diversification and individual development of the economy, enterprise competition tends to be international, and traditional production line has disadvantages in terms of efficiency and labor costs. This paper considers reducing workers to reduce labor costs in line-seru. It also considers reducing the number of workers without increasing the manufacturing period of the product to ensure timely delivery. This paper proposes a multi-objective model to solve the problem of reducing the number of workers and not increasing the manufacturing period. The variable length coding heuristic algorithm is used to solve the model. This algorithm is not only suitable for the case of fewer workers, but also has good applicability to medium and large-scale problems.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"15 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81644980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35107
Huijian Zhang, Jun Jiang, Junfeng Wang
Based on the statistical data of 18 cities or counties in Hainan from 2011 to 2018, this research comprehensive utilize agricultural production comparative advantage and environmental comparative advantage to build a comprehensive comparative advantage system, guide the optimization of Hainan's agricultural industry layout. The result show that the comprehensive comparative advantages and environmental bearing capacity of Sanya, Qionghai, Wanning, Baoting and Qiong Zhong are bigger than 1, have significant advantage in agricultural production; And the comprehensive comparative advantage of Ding'an, Tunchang and Ledong is bigger than 1, but the environmental carrying capacity is between 0-1, so they are medium advantage zone of agricultural production; The comprehensive comparative advantages and environmental carrying capacity of Haikou, Wenchang, lin'gao, Danzhou, Dongfang, Lingshui and Changjiang are all between 0-1, are disadvantaged area of agricultural production. According to the evaluation results of comprehensive comparative advantagesw, the following optimization paths are proposed, firstly, it is proposed to improve the significant advantages zone, and limit the scale of low efficiency and high consumption of agricultural products in medium advantages zone, and adjust the industrial structure and layout of the disadvantaged zone. Secondly it is proposed to promote the production mode of comprehensive development of agriculture, forestry, animal husbandry and fishery. Thirdly, it is considered of multi compliance of the impact of planting, animal husbandry and fishery layout on the environment. Then the pollutant discharge in agri-production should be strengthening controlled. Finally, this research puts forward some policy suggestions to support the optimization of regional layout of agricultural industry.
{"title":"Optimization Research of Regional Distribution of Hainan Agricultural Industry Based on Comprehensive Comparative Advantages","authors":"Huijian Zhang, Jun Jiang, Junfeng Wang","doi":"10.12783/dtetr/mcaee2020/35107","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35107","url":null,"abstract":"Based on the statistical data of 18 cities or counties in Hainan from 2011 to 2018, this research comprehensive utilize agricultural production comparative advantage and environmental comparative advantage to build a comprehensive comparative advantage system, guide the optimization of Hainan's agricultural industry layout. The result show that the comprehensive comparative advantages and environmental bearing capacity of Sanya, Qionghai, Wanning, Baoting and Qiong Zhong are bigger than 1, have significant advantage in agricultural production; And the comprehensive comparative advantage of Ding'an, Tunchang and Ledong is bigger than 1, but the environmental carrying capacity is between 0-1, so they are medium advantage zone of agricultural production; The comprehensive comparative advantages and environmental carrying capacity of Haikou, Wenchang, lin'gao, Danzhou, Dongfang, Lingshui and Changjiang are all between 0-1, are disadvantaged area of agricultural production. According to the evaluation results of comprehensive comparative advantagesw, the following optimization paths are proposed, firstly, it is proposed to improve the significant advantages zone, and limit the scale of low efficiency and high consumption of agricultural products in medium advantages zone, and adjust the industrial structure and layout of the disadvantaged zone. Secondly it is proposed to promote the production mode of comprehensive development of agriculture, forestry, animal husbandry and fishery. Thirdly, it is considered of multi compliance of the impact of planting, animal husbandry and fishery layout on the environment. Then the pollutant discharge in agri-production should be strengthening controlled. Finally, this research puts forward some policy suggestions to support the optimization of regional layout of agricultural industry.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83719904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-10-06DOI: 10.12783/dtetr/mcaee2020/35070
Liu Bo, Haoting Wu, Dong Siqing, Pingjun Wu, Zhao Fengtao, Lei Zhao, Jiang Ming
The application of setting-out UAV can enhance automation level of guideline erection operation, simplify erection flow, thus enhancing erection speed of power transmission line, reducing construction cost of erection operation, reliving labor strength of erection workers, and reducing working danger of erection workers. Especially in construction occasions with complicated terrain and severe environment where the artificial erection is difficult to be conducted, complete erection with UAV automatically can enhance construction efficiency greatly [1]. In this thesis, we mainly research the effect of utilizing RTK differential technology to enhancement of flight stability of UAV.
{"title":"Research on Reconstruction and Test for Flight Stability of Setting-out UAV","authors":"Liu Bo, Haoting Wu, Dong Siqing, Pingjun Wu, Zhao Fengtao, Lei Zhao, Jiang Ming","doi":"10.12783/dtetr/mcaee2020/35070","DOIUrl":"https://doi.org/10.12783/dtetr/mcaee2020/35070","url":null,"abstract":"The application of setting-out UAV can enhance automation level of guideline erection operation, simplify erection flow, thus enhancing erection speed of power transmission line, reducing construction cost of erection operation, reliving labor strength of erection workers, and reducing working danger of erection workers. Especially in construction occasions with complicated terrain and severe environment where the artificial erection is difficult to be conducted, complete erection with UAV automatically can enhance construction efficiency greatly [1]. In this thesis, we mainly research the effect of utilizing RTK differential technology to enhancement of flight stability of UAV.","PeriodicalId":11264,"journal":{"name":"DEStech Transactions on Engineering and Technology Research","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84390629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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