The traditional agricultural Chain in China faces contradictions and conflicts such as huge risk, high cost, low coordination and bad agility etc. Under the guidance of theories of service profit chain, value chain, supplying chain management and TRIZ, etc., the thesis digs deeply and analyzes the creative practice and effects from cultivation service value chain of Guangdong Wen's food group Co. Ltd. (hereafter referred to as"Wen's") by means of case and proof analysis, which we get the case through investigating and interviewing on the spot in Guangdong. Maybe it can provide reference for Chinese agribusiness, especially agricultural leading enterprises of industrialization to improve the performance, strengthen the comparative advantage and improve the competitiveness.
{"title":"Conflict and Innovation Practice of China Agricultural Chain The Case Study of \"Wen's\" Cultivation Service Value Chain","authors":"Qing Liu, Feng-jun Lu","doi":"10.1109/ICRMEM.2008.98","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.98","url":null,"abstract":"The traditional agricultural Chain in China faces contradictions and conflicts such as huge risk, high cost, low coordination and bad agility etc. Under the guidance of theories of service profit chain, value chain, supplying chain management and TRIZ, etc., the thesis digs deeply and analyzes the creative practice and effects from cultivation service value chain of Guangdong Wen's food group Co. Ltd. (hereafter referred to as\"Wen's\") by means of case and proof analysis, which we get the case through investigating and interviewing on the spot in Guangdong. Maybe it can provide reference for Chinese agribusiness, especially agricultural leading enterprises of industrialization to improve the performance, strengthen the comparative advantage and improve the competitiveness.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122422482","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}
This paper develops a kind of generalized double-sided moral hazard model of contract choice with Cobb-Douglas technology in a frame of principal-agent theory. Using this model, we formally prove that the optimal contract maximizes the output net of the disutility of both the parties and carry out some simulations exercise under two special cases which help explain the double-sided moral hazard issues. By focusing on production efficiency, relative importance factor and risk attitude respectively, this paper analyzes the properties of optimal contracts under three cases.
{"title":"Optimal Contract under Double-Sided Moral Hazard and Cobb-Douglas Production Technology","authors":"Shulei Sun","doi":"10.1109/ICRMEM.2008.125","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.125","url":null,"abstract":"This paper develops a kind of generalized double-sided moral hazard model of contract choice with Cobb-Douglas technology in a frame of principal-agent theory. Using this model, we formally prove that the optimal contract maximizes the output net of the disutility of both the parties and carry out some simulations exercise under two special cases which help explain the double-sided moral hazard issues. By focusing on production efficiency, relative importance factor and risk attitude respectively, this paper analyzes the properties of optimal contracts under three cases.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123339909","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}
Through the statistical analysis of 51 electric power listed company, this paper shows the specific industry characteristics in electric power listed company, and makes detailed study on the electric power listed company's effect, tax shield effect and corporate governance effect of debt financing, then use empirical method to prove them. The empirical results show that, for the electric power listed company with good profitability, increasing asset-liability ratio, its debt effect of financing can be improved, vice versa. The paper also shows the size and growth of company have positive correlation with debt financing, which has negative correlation with extent of stock concentration.
{"title":"A Research on Debt Financing Effects Based on the Power Companies","authors":"Tao Li, Jianhui Jian","doi":"10.1109/ICRMEM.2008.5","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.5","url":null,"abstract":"Through the statistical analysis of 51 electric power listed company, this paper shows the specific industry characteristics in electric power listed company, and makes detailed study on the electric power listed company's effect, tax shield effect and corporate governance effect of debt financing, then use empirical method to prove them. The empirical results show that, for the electric power listed company with good profitability, increasing asset-liability ratio, its debt effect of financing can be improved, vice versa. The paper also shows the size and growth of company have positive correlation with debt financing, which has negative correlation with extent of stock concentration.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116975076","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}
Literatures have discussed the effect of many variables, such as firm size, firm risk and industry features etc., on CEO pay-performance sensitivity. However, it is indicated that the fact of persistent low CEO pay-performance sensitivity is still not explained effectively. From the perspective of internal governance structure, the paper takes managerial discretion, a variable most comprehensively reflecting corporate governance quality, as the critical influencing variable, and focuses on its effect on CEO pay-performance sensitivity. Based on the literature review and theoretical analysis, a hypothesis holding that managerial discretion can manipulate CEO pay-performance sensitivity negatively and significantly is proposed. Finally, by applying the data of 784 Chinese listed firms both of Shanghai Stock Exchange and Shenzhen Stock Exchange in 2004, the paper empirically proves that managerial discretion can negatively manipulate CEO pay-performance sensitivity significantly and high managerial discretion without effective monitoring is the critical factor of persistent low CEO pay-performance sensitivity.
{"title":"Empirical Study on Effect of Managerial Discretion on CEO Pay-Performance Sensitivity","authors":"Changzheng Zhang, Jie Xie","doi":"10.1109/ICRMEM.2008.23","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.23","url":null,"abstract":"Literatures have discussed the effect of many variables, such as firm size, firm risk and industry features etc., on CEO pay-performance sensitivity. However, it is indicated that the fact of persistent low CEO pay-performance sensitivity is still not explained effectively. From the perspective of internal governance structure, the paper takes managerial discretion, a variable most comprehensively reflecting corporate governance quality, as the critical influencing variable, and focuses on its effect on CEO pay-performance sensitivity. Based on the literature review and theoretical analysis, a hypothesis holding that managerial discretion can manipulate CEO pay-performance sensitivity negatively and significantly is proposed. Finally, by applying the data of 784 Chinese listed firms both of Shanghai Stock Exchange and Shenzhen Stock Exchange in 2004, the paper empirically proves that managerial discretion can negatively manipulate CEO pay-performance sensitivity significantly and high managerial discretion without effective monitoring is the critical factor of persistent low CEO pay-performance sensitivity.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116683688","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}
The surface treatment industry is a main technology of manufacture industry which also is one of the heaviest polluted industries. In the first place, a new view that the success of surface treatment industry cluster evolution depends on economic viability is put forward in this paper. Moreover, the paper makes a brief analysis on the enterprise behavior in the course of the surface treatment industry cluster evolution by adopting the "replicated dynamic model" of quantitative ecology and evolutionary game theory. An evolutionary game model of surface treatment industry cluster evolution is built. And then it proceeds to analyze the dynamic procedure of surface treatment industry cluster evolution in very great detail. Finally, key factors that affect the surface treatment industry cluster evolution are obtained and researched in this paper.
{"title":"Explanation by Evolutionary Game Theory in Evolvement of Surface Treatment Industry Cluster","authors":"Zhinan Guo","doi":"10.1109/ICRMEM.2008.12","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.12","url":null,"abstract":"The surface treatment industry is a main technology of manufacture industry which also is one of the heaviest polluted industries. In the first place, a new view that the success of surface treatment industry cluster evolution depends on economic viability is put forward in this paper. Moreover, the paper makes a brief analysis on the enterprise behavior in the course of the surface treatment industry cluster evolution by adopting the \"replicated dynamic model\" of quantitative ecology and evolutionary game theory. An evolutionary game model of surface treatment industry cluster evolution is built. And then it proceeds to analyze the dynamic procedure of surface treatment industry cluster evolution in very great detail. Finally, key factors that affect the surface treatment industry cluster evolution are obtained and researched in this paper.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114421732","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}
For a long time, China's coal-based energy structure, as well as thermal-power-led power structure, has caused serious environmental pollution problems. As the proportion of Chinapsilas power source structure is not so reasonable, it receives growing attention. To achieve the emissions constraints of major pollutants till the end of Eleventh Five-Year Plan, and optimize China's power structure, the research builds the electricity production and environmental constraints coupling optimization model and proposes the optimal program of China's power structure, accompanied with the analysis of the potential effect and validity of the program. After optimization, the SO2 emissions decreases by almost 22.35, in 2010 compared to 2005. The proportion of thermal power goes down to 72.2, from the former 79.64, through adjustment of the power structure, and the clean energy be 27.8. Through the power structure optimization, the emission quantity of SO2 is greatly decreased and could reach the Chinapsilas reduction target.
{"title":"Two-Way Coupling Optimization of Power Source Structure Based on the Constraint of SO2 Emission","authors":"Shi Ying-ling, Liu Yuan-yuan, Yang Hong-song","doi":"10.1109/ICRMEM.2008.87","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.87","url":null,"abstract":"For a long time, China's coal-based energy structure, as well as thermal-power-led power structure, has caused serious environmental pollution problems. As the proportion of Chinapsilas power source structure is not so reasonable, it receives growing attention. To achieve the emissions constraints of major pollutants till the end of Eleventh Five-Year Plan, and optimize China's power structure, the research builds the electricity production and environmental constraints coupling optimization model and proposes the optimal program of China's power structure, accompanied with the analysis of the potential effect and validity of the program. After optimization, the SO2 emissions decreases by almost 22.35, in 2010 compared to 2005. The proportion of thermal power goes down to 72.2, from the former 79.64, through adjustment of the power structure, and the clean energy be 27.8. Through the power structure optimization, the emission quantity of SO2 is greatly decreased and could reach the Chinapsilas reduction target.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114463321","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}
Construction Enterprises need to implement ERP projects to constantly improve their competitiveness in the future. However, as having been proved to be an enormously invested and systematically risky project, ERP usually makes construction enterprises fall into "two-difficult" choices. Therefore, a scientific risk evaluation is urgently needed to increase the success rate of ERP project. This paper, after having reviewed a large amount of literatures, establishes a risk evaluation index system for construction enterprisespsila ERP project. A fuzzy comprehensive evaluation model is then proposed. This model, supported by variable fuzzy set method, makes full use of expert experiences and calculates the membership degree in a better way. And then, an actual case is involved in this paper to verify its scientificity and practicality.
{"title":"Application of Fuzzy Comprehensive Evaluation Model Based on Variable Fuzzy Set Method in Construction Enterprises' ERP Project Risk Evaluation","authors":"Wu Yunna, Huang Zhijun","doi":"10.1109/ICRMEM.2008.48","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.48","url":null,"abstract":"Construction Enterprises need to implement ERP projects to constantly improve their competitiveness in the future. However, as having been proved to be an enormously invested and systematically risky project, ERP usually makes construction enterprises fall into \"two-difficult\" choices. Therefore, a scientific risk evaluation is urgently needed to increase the success rate of ERP project. This paper, after having reviewed a large amount of literatures, establishes a risk evaluation index system for construction enterprisespsila ERP project. A fuzzy comprehensive evaluation model is then proposed. This model, supported by variable fuzzy set method, makes full use of expert experiences and calculates the membership degree in a better way. And then, an actual case is involved in this paper to verify its scientificity and practicality.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115398994","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}
Loan risk pricing system of the bank is the core of interest rate marketization. Realizing independent pricing of loan interest rate will be an inevitable tendency. At present, commercial banks of China have widely developed credit rating system for customers. And it is a question which must be solved urgently that how to carry on risk pricing of loan interest rate and determine market competition strategy based on the system. This paper sets up a loan loss distribution model on the basis of the four assumptive conditions used in Internal Rating-Based approach of the New Basel Capital Accord, and shows that loan risk pricing of banks has "the seesaw effect" according to the same risk-adjusted return on capital of debtors with different credit grades. Namely, banks whose operation cost is low have price advantage on providing loans to debtors with high credit rank and can accordingly take in lower interest rates compared with banks whose operation cost is high. But when providing loans to debtors with low credit rank, they must take in a higher interest rate. The result is very important for commercial banks of China to subdivide the loan market and determine the rational market competitive strategy.
{"title":"The Study on the Loan Risk Pricing of the Bank in Internal Rating-Based Approach","authors":"Wang Xiu-hua, Liang Ling","doi":"10.1109/ICRMEM.2008.90","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.90","url":null,"abstract":"Loan risk pricing system of the bank is the core of interest rate marketization. Realizing independent pricing of loan interest rate will be an inevitable tendency. At present, commercial banks of China have widely developed credit rating system for customers. And it is a question which must be solved urgently that how to carry on risk pricing of loan interest rate and determine market competition strategy based on the system. This paper sets up a loan loss distribution model on the basis of the four assumptive conditions used in Internal Rating-Based approach of the New Basel Capital Accord, and shows that loan risk pricing of banks has \"the seesaw effect\" according to the same risk-adjusted return on capital of debtors with different credit grades. Namely, banks whose operation cost is low have price advantage on providing loans to debtors with high credit rank and can accordingly take in lower interest rates compared with banks whose operation cost is high. But when providing loans to debtors with low credit rank, they must take in a higher interest rate. The result is very important for commercial banks of China to subdivide the loan market and determine the rational market competitive strategy.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126752784","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}
Power generation adequacy is critical for the reliability of electricity supply service, and therefore its investment draws much attention. This paper builds a dynamic simulation model to solve the setting of two key parameters, the energy price cap and the capacity price in the generation market, and applies this model to various cases to analyze the generation capacity development. Based on the simulation results, this paper analyzes the sensitivity of generation capacity to the key parameters. Furthermore, this paper proposes an evaluation index system for the simulation model, and discusses the correlation between the two key parameters, from the views of reliability and economy. The research shows that there might be potential unmarked misunderstandings in the setting of key parameters, and suggests that under a certain electricity bill for customers, parameter combination of low energy price cap and high capacity price should be made, in order to curb the fluctuation of generation capacity and maintain the system reliability.
{"title":"Coordination Research on Key Parameters in Generation Competition Based on Dynamic Simulation","authors":"Lin Xiao, Jun Dong, Jing Zhang","doi":"10.1109/ICRMEM.2008.60","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.60","url":null,"abstract":"Power generation adequacy is critical for the reliability of electricity supply service, and therefore its investment draws much attention. This paper builds a dynamic simulation model to solve the setting of two key parameters, the energy price cap and the capacity price in the generation market, and applies this model to various cases to analyze the generation capacity development. Based on the simulation results, this paper analyzes the sensitivity of generation capacity to the key parameters. Furthermore, this paper proposes an evaluation index system for the simulation model, and discusses the correlation between the two key parameters, from the views of reliability and economy. The research shows that there might be potential unmarked misunderstandings in the setting of key parameters, and suggests that under a certain electricity bill for customers, parameter combination of low energy price cap and high capacity price should be made, in order to curb the fluctuation of generation capacity and maintain the system reliability.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132831145","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}
Starting with the theory and research status on the information security risk assessment, this paper puts forward information security risk evaluation method based on analytic hierarchy process and fuzzy comprehensive evaluation, and solves the difficulty of the qualitative index and quantitative evaluation in the risk assessment process. Finally, it gives examples to prove that this method can be well applied to information security risk assessment.
{"title":"Information Security Risk Assessment Based on Analytic Hierarchy Process and Fuzzy Comprehensive","authors":"X. Long, Qi Yong, Qianmu Li","doi":"10.1109/ICRMEM.2008.71","DOIUrl":"https://doi.org/10.1109/ICRMEM.2008.71","url":null,"abstract":"Starting with the theory and research status on the information security risk assessment, this paper puts forward information security risk evaluation method based on analytic hierarchy process and fuzzy comprehensive evaluation, and solves the difficulty of the qualitative index and quantitative evaluation in the risk assessment process. Finally, it gives examples to prove that this method can be well applied to information security risk assessment.","PeriodicalId":430801,"journal":{"name":"2008 International Conference on Risk Management & Engineering Management","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129969986","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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