Pub Date : 2017-08-01DOI: 10.1109/ICMSE.2017.8574409
Zhang Bao-hong, Ju Xiao-feng
This current study is designed to compare the different mechanisms between China and foreign countries. Analyzing the national mechanisms of the USA and Russia can promote the development of revolution of national defense in China. Drawing upon previous studies associated with innovation management of national defense-related science and technology in China and foreign countries, this present study conducts endogenous and exogenous comparative studies and has significant effect on innovational management for China's national defense technology industry.
{"title":"Innovation Management Mechanism Comparative Study on China-USA-Russia National Defense-Related Science and Technology Industry","authors":"Zhang Bao-hong, Ju Xiao-feng","doi":"10.1109/ICMSE.2017.8574409","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574409","url":null,"abstract":"This current study is designed to compare the different mechanisms between China and foreign countries. Analyzing the national mechanisms of the USA and Russia can promote the development of revolution of national defense in China. Drawing upon previous studies associated with innovation management of national defense-related science and technology in China and foreign countries, this present study conducts endogenous and exogenous comparative studies and has significant effect on innovational management for China's national defense technology industry.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"36 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114135826","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574472
Huo Di, Zou Peng
Unlike the traditional theoretical preferences hypothesis, which holds that consumer preferences are stable, invariant, consistent and transferable, behavioral economists argue that the preference forming process is not independent. Such a process in a local context is a heuristic one. Existing research has verified the local context effect with homogeneity of consumer preferences but has not explored the effect with preference heterogeneity, which is ubiquitous in perception and judgment. This research contributes literature by investigating whether and how local context affects consumer purchase intention for heterogeneity using a product experience experiment. Cooperating with one of largest retailers in China, we test the purchase intention of its customers for different heterogeneity products combination. The results show the following. In terms of the heterogeneity preference, when offered two products with contrastive attribute values together, consumers show a more positive intention for both products than the intention for the two when offered either one of the two respectively. Theoretical and managerial applications are also discussed.
{"title":"The Impact of Local Context on the Consumer Choice for Heterogeneity Preferences Product","authors":"Huo Di, Zou Peng","doi":"10.1109/ICMSE.2017.8574472","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574472","url":null,"abstract":"Unlike the traditional theoretical preferences hypothesis, which holds that consumer preferences are stable, invariant, consistent and transferable, behavioral economists argue that the preference forming process is not independent. Such a process in a local context is a heuristic one. Existing research has verified the local context effect with homogeneity of consumer preferences but has not explored the effect with preference heterogeneity, which is ubiquitous in perception and judgment. This research contributes literature by investigating whether and how local context affects consumer purchase intention for heterogeneity using a product experience experiment. Cooperating with one of largest retailers in China, we test the purchase intention of its customers for different heterogeneity products combination. The results show the following. In terms of the heterogeneity preference, when offered two products with contrastive attribute values together, consumers show a more positive intention for both products than the intention for the two when offered either one of the two respectively. Theoretical and managerial applications are also discussed.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124864752","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574402
Li Chun-zhi, Tong Shu-rong, Wang Ke-qin
Continuous sampling plans (CSPs) are extensively adopted in manufacturing systems to improve outgoing quality as well as reduce inspection costs. Existing CSPs formulating inspection scheme with the maximum value of average outgoing quality limit (AOQL) contour neglect some feasible sampling plans for in-control process. A new systematic method, designated as dynamic continuous sampling plan (DCSP), is proposed for establishing boundary feasible inspection schemes and supplying all feasible inspection schemes for the practitioners. Selecting inspection scheme according to produce lot size and AOQL in CSPs leads to the complexity and perplexity for the practitioners. DCSP solves the problem by demonstrating the-bigger-the-better rule on sampling frequency for inspection scheme selection. In all CSPs, which interval CSPs can work effectively and when CSPs should be stopped are two pendent issues. DCSP successfully solves the two problems by the foundation of effective working interval and stopping rule. Unlike partial optimization in the literature, DCSP can incorporate all process control tools into a whole integer by these characteristics, such as effective working interval, stopping rule, et al to realize process quantitative and qualitative control. Simultaneously DCSP realizes closed-loop and in-process control by the natural estimator of the probability of non-conformance. The original definition of the probability of acceptance in CSPs is unsuitable for DCSP due to the different value of the probability of acceptance for the processes with same outgoing quality. The probability of acceptance in DCSP is redefined as accepting or rejecting the outgoing product flow according to average outgoing quality (AOQ). The effects of the parameters in DCSP are discussed. The results comparing DCSP with CSP-1 show the stability and controllability in outgoing quality for DCSP. A numerical example is given at last to verify the proposed method.
{"title":"A New Systematic Method for Selecting Continuous Sampling Plan Based on the Boundary Feasible Plan for In-Control Process","authors":"Li Chun-zhi, Tong Shu-rong, Wang Ke-qin","doi":"10.1109/ICMSE.2017.8574402","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574402","url":null,"abstract":"Continuous sampling plans (CSPs) are extensively adopted in manufacturing systems to improve outgoing quality as well as reduce inspection costs. Existing CSPs formulating inspection scheme with the maximum value of average outgoing quality limit (AOQL) contour neglect some feasible sampling plans for in-control process. A new systematic method, designated as dynamic continuous sampling plan (DCSP), is proposed for establishing boundary feasible inspection schemes and supplying all feasible inspection schemes for the practitioners. Selecting inspection scheme according to produce lot size and AOQL in CSPs leads to the complexity and perplexity for the practitioners. DCSP solves the problem by demonstrating the-bigger-the-better rule on sampling frequency for inspection scheme selection. In all CSPs, which interval CSPs can work effectively and when CSPs should be stopped are two pendent issues. DCSP successfully solves the two problems by the foundation of effective working interval and stopping rule. Unlike partial optimization in the literature, DCSP can incorporate all process control tools into a whole integer by these characteristics, such as effective working interval, stopping rule, et al to realize process quantitative and qualitative control. Simultaneously DCSP realizes closed-loop and in-process control by the natural estimator of the probability of non-conformance. The original definition of the probability of acceptance in CSPs is unsuitable for DCSP due to the different value of the probability of acceptance for the processes with same outgoing quality. The probability of acceptance in DCSP is redefined as accepting or rejecting the outgoing product flow according to average outgoing quality (AOQ). The effects of the parameters in DCSP are discussed. The results comparing DCSP with CSP-1 show the stability and controllability in outgoing quality for DCSP. A numerical example is given at last to verify the proposed method.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123972249","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574410
Wu Xian-Bo, F. Jin, Chen Yong
The impact of the emergency on the stock market mainly performs at the variation of confidence of investors. The traditional financial theories consider that the direction of the variation is consistent, but it does not conform to the real situation of markets. This paper applied heterogeneous analytical approach which is based on behavioral finance to research the behavior of investors, then to construct the Heterogeneous Agent Model (HAM) of impact of emergency on Chinese stock market. In order to verify the conclusion of this model, this article selected the closing price of Shanghai Composite Index to estimate the parameters of HAM. Firstly, we constructed the multi-objective parameter optimization model. Secondly, we utilized the simulation method to study the different influences of internal characteristics of emergency on investor behavior and market performance. The simulation results showed that the internal characteristics of emergency had significant impact on investor behavior in Chinese stock market, and then affected the market performance after the outbreak of emergency.
{"title":"Research on Mechanism of Transmission on Impact of Emergency to Chinese Stock Market Based on Heterogeneous Agent Model","authors":"Wu Xian-Bo, F. Jin, Chen Yong","doi":"10.1109/ICMSE.2017.8574410","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574410","url":null,"abstract":"The impact of the emergency on the stock market mainly performs at the variation of confidence of investors. The traditional financial theories consider that the direction of the variation is consistent, but it does not conform to the real situation of markets. This paper applied heterogeneous analytical approach which is based on behavioral finance to research the behavior of investors, then to construct the Heterogeneous Agent Model (HAM) of impact of emergency on Chinese stock market. In order to verify the conclusion of this model, this article selected the closing price of Shanghai Composite Index to estimate the parameters of HAM. Firstly, we constructed the multi-objective parameter optimization model. Secondly, we utilized the simulation method to study the different influences of internal characteristics of emergency on investor behavior and market performance. The simulation results showed that the internal characteristics of emergency had significant impact on investor behavior in Chinese stock market, and then affected the market performance after the outbreak of emergency.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"331 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124305210","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574440
S. Dan, Y. Nagai, Gu Xun
This study aims to challenge traditional approaches to classifying innovative design by its typology through evidence from renewed old buildings in the public space. Using theoretical approaches, this study summarizes the characteristics of old-building renewal and reuse, and builds a foundation for further research on the theoretical evaluation of innovative design. In the theoretical part, we examine 12 examples from eight categories of innovative design, which are grouped into four types: function, aesthetics, technology, and context. Then, we explore the relationships between those four types and the geographical regions they are situated in. Finally, we try to find an innovation model between these four types. In future studies, we will focus on the theoretical evaluation of innovative design in the renewal of old buildings in each type.
{"title":"Innovative-Design Typology in Old-Building Renewal","authors":"S. Dan, Y. Nagai, Gu Xun","doi":"10.1109/ICMSE.2017.8574440","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574440","url":null,"abstract":"This study aims to challenge traditional approaches to classifying innovative design by its typology through evidence from renewed old buildings in the public space. Using theoretical approaches, this study summarizes the characteristics of old-building renewal and reuse, and builds a foundation for further research on the theoretical evaluation of innovative design. In the theoretical part, we examine 12 examples from eight categories of innovative design, which are grouped into four types: function, aesthetics, technology, and context. Then, we explore the relationships between those four types and the geographical regions they are situated in. Finally, we try to find an innovation model between these four types. In future studies, we will focus on the theoretical evaluation of innovative design in the renewal of old buildings in each type.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126446199","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574433
Liu Tong, Shisheng Qu, Chaoxuan Mao
With the continuous advancement of the financial field, Markowitz portfolio model has become more mature, and covariance matrix estimation stands out in the application of the portfolio model. The covariance matrix estimation deviation problem in the portfolio model has great influence on the optimal solution. In order to correct the deviation of the covariance matrix and reduce the influence of the dimension curse and time-varying problems on the results, in this paper, the Design -Free estimation method is applied for the first time in the portfolio optimization model. Specifically, the portfolio optimization model is built on the basis of Design-Free estimation. The advantage of Design-Free estimation method is that it has no limit condition for the sample randomness and the parameter structure of covariance matrix, and can ensure that the estimated covariance matrix is a non-singular matrix, which effectively improves the accuracy of estimation. The empirical results show that compared with the traditional model and the stochastic matrix M-P distribution estimation portfolio model, the portfolio model based on design-free estimation has higher return-risk ratio.
{"title":"Study of Portfolio Optimization Model Based on Design-Free Estimation","authors":"Liu Tong, Shisheng Qu, Chaoxuan Mao","doi":"10.1109/ICMSE.2017.8574433","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574433","url":null,"abstract":"With the continuous advancement of the financial field, Markowitz portfolio model has become more mature, and covariance matrix estimation stands out in the application of the portfolio model. The covariance matrix estimation deviation problem in the portfolio model has great influence on the optimal solution. In order to correct the deviation of the covariance matrix and reduce the influence of the dimension curse and time-varying problems on the results, in this paper, the Design -Free estimation method is applied for the first time in the portfolio optimization model. Specifically, the portfolio optimization model is built on the basis of Design-Free estimation. The advantage of Design-Free estimation method is that it has no limit condition for the sample randomness and the parameter structure of covariance matrix, and can ensure that the estimated covariance matrix is a non-singular matrix, which effectively improves the accuracy of estimation. The empirical results show that compared with the traditional model and the stochastic matrix M-P distribution estimation portfolio model, the portfolio model based on design-free estimation has higher return-risk ratio.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127531520","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574401
Qiu Dong-yang, Ma Jian, Cao Ya-Fei
This paper investigated the quality of disclosure among the IPO companies on the Shenzhen SME and ChiNext board market in 2011 through three progressive indices that whether IP information was disclosed, fully disclosed and the amount disclosed. We also empirically researched the relationship between the disclosure of different IP information, the underpricing rate on the first listing day of IPO and the cumulative abnormal return in 20 trading days for the sample of IPO companies by multivariate regression analysis method. The result showed that whether the IP information was disclosed and fully disclosed were significantly negatively correlated with the underpricing rate of IPO, but no correlation with the amount disclosed and cumulative abnormal return in 20 trading days. Therefore, the suggestion for regulators and listed companies to pay attention to standard full disclosure of IP information was presented.
{"title":"Impacts on IPO Underpricing by the Information Disclosure of Intellectual Property- Empirical Study on SME and ChiNext Board Market of Shenzhen Stock Exchange in China","authors":"Qiu Dong-yang, Ma Jian, Cao Ya-Fei","doi":"10.1109/ICMSE.2017.8574401","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574401","url":null,"abstract":"This paper investigated the quality of disclosure among the IPO companies on the Shenzhen SME and ChiNext board market in 2011 through three progressive indices that whether IP information was disclosed, fully disclosed and the amount disclosed. We also empirically researched the relationship between the disclosure of different IP information, the underpricing rate on the first listing day of IPO and the cumulative abnormal return in 20 trading days for the sample of IPO companies by multivariate regression analysis method. The result showed that whether the IP information was disclosed and fully disclosed were significantly negatively correlated with the underpricing rate of IPO, but no correlation with the amount disclosed and cumulative abnormal return in 20 trading days. Therefore, the suggestion for regulators and listed companies to pay attention to standard full disclosure of IP information was presented.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133356867","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574449
Lin Hong-Li, Zhu Yu-ming, Ahmad Naveed, Han Qing-Ye
Game theory is commonly used in conflict research but few attentions were focused on conflict complexity from the perspective of stakeholders' social characteristics. This paper proposed a framework of conflict complexity with social network. The framework included two processes: 1) reviewing literature to establish a theoretical framework, and 2) employing the cases of brownfield redevelopment to demonstrate the feasibility. The results indicated the dynamic feature of social network structure as a consequence of the different roles of stakeholders, the influences of in-group preference as well as dissemination of information in the generation of conflict, and the scope and degree of conflict which were based on simulation analysis. The paper can fill the gap for improving the conflict governance in brownfield redevelopment.
{"title":"A Research Framework of Conflict Complexity for Brownfield Redevelopment: A Social Network Perspective","authors":"Lin Hong-Li, Zhu Yu-ming, Ahmad Naveed, Han Qing-Ye","doi":"10.1109/ICMSE.2017.8574449","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574449","url":null,"abstract":"Game theory is commonly used in conflict research but few attentions were focused on conflict complexity from the perspective of stakeholders' social characteristics. This paper proposed a framework of conflict complexity with social network. The framework included two processes: 1) reviewing literature to establish a theoretical framework, and 2) employing the cases of brownfield redevelopment to demonstrate the feasibility. The results indicated the dynamic feature of social network structure as a consequence of the different roles of stakeholders, the influences of in-group preference as well as dissemination of information in the generation of conflict, and the scope and degree of conflict which were based on simulation analysis. The paper can fill the gap for improving the conflict governance in brownfield redevelopment.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121436380","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574460
Su Yi, Zhou-Zhou Lin, L. Tong, Wu Lei
This paper draws on the previous research results and divides the technological innovation process of high-tech enterprise into two stages: technology R&D and technology transformation. Then it constructs input-output evaluation index systems of two stages. Based on the efficient DEA model, this paper uses the related data of Chinese 27 provinces during 2012–2015 to analyze the technological innovation performance of high-tech enterprise. The results show that: The constructed DEA model can effectively solve the “black box” problem, and well calculate the technological innovation performance of high-tech enterprise. The technological innovation level of high-tech enterprise in different regions is uneven. In the most areas, high-tech enterprises put too much emphasis on intermediate achievements, and inadequate attention to the commercialization stage. Finally, this paper presents relevant policy implications according to the research.
{"title":"Research on the Technological Innovation Performance of China's High-Tech Enterprise Based on DEA","authors":"Su Yi, Zhou-Zhou Lin, L. Tong, Wu Lei","doi":"10.1109/ICMSE.2017.8574460","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574460","url":null,"abstract":"This paper draws on the previous research results and divides the technological innovation process of high-tech enterprise into two stages: technology R&D and technology transformation. Then it constructs input-output evaluation index systems of two stages. Based on the efficient DEA model, this paper uses the related data of Chinese 27 provinces during 2012–2015 to analyze the technological innovation performance of high-tech enterprise. The results show that: The constructed DEA model can effectively solve the “black box” problem, and well calculate the technological innovation performance of high-tech enterprise. The technological innovation level of high-tech enterprise in different regions is uneven. In the most areas, high-tech enterprises put too much emphasis on intermediate achievements, and inadequate attention to the commercialization stage. Finally, this paper presents relevant policy implications according to the research.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115551785","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 : 2017-08-01DOI: 10.1109/ICMSE.2017.8574397
Qi Zhong-ying, W. Ru, Han Lu
Since China followed the policy of reform and opening, investment has been used to stimulate economic development excessively. And the irrational investment structure has led to the imbalance of industrial structure. As a result, there is overcapacity of low-level industry and effective supply shortage of high-quality products and services in China's supply side. In order to achieve sustained, efficient, high-speed growth, the core task of China's structural adjustment at the present stage is to promote supply-side reform. Under the background of supply-side reform, the reasonable and effective investment should be made around the five economic tasks of the implementation to capacity, to inventory, to leverage, and reducing costs and making up short board. The supply and demand effect of investment should be brought into full play in economic growth. Therefore, the purpose of optimizing the industrial structure can be achieved. In the face of new normal, new situation and new requirements, based on the data of 1991 to 2014, this paper applies co-integration test, Granger causality test and VAR model analysis to analyze the relationship between investment and industrial structure, and provides appropriate recommendations for the direction of industrial optimization and the policy choice of supply-side reform.
{"title":"Relationship Analysis Between Investment and Industrial Structure","authors":"Qi Zhong-ying, W. Ru, Han Lu","doi":"10.1109/ICMSE.2017.8574397","DOIUrl":"https://doi.org/10.1109/ICMSE.2017.8574397","url":null,"abstract":"Since China followed the policy of reform and opening, investment has been used to stimulate economic development excessively. And the irrational investment structure has led to the imbalance of industrial structure. As a result, there is overcapacity of low-level industry and effective supply shortage of high-quality products and services in China's supply side. In order to achieve sustained, efficient, high-speed growth, the core task of China's structural adjustment at the present stage is to promote supply-side reform. Under the background of supply-side reform, the reasonable and effective investment should be made around the five economic tasks of the implementation to capacity, to inventory, to leverage, and reducing costs and making up short board. The supply and demand effect of investment should be brought into full play in economic growth. Therefore, the purpose of optimizing the industrial structure can be achieved. In the face of new normal, new situation and new requirements, based on the data of 1991 to 2014, this paper applies co-integration test, Granger causality test and VAR model analysis to analyze the relationship between investment and industrial structure, and provides appropriate recommendations for the direction of industrial optimization and the policy choice of supply-side reform.","PeriodicalId":275033,"journal":{"name":"2017 International Conference on Management Science and Engineering (ICMSE)","volume":"385 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123355493","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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