Purpose – The purpose of this paper is to empirically analyze the relationship between risky asset allocation and background risk of Chinese residents. Design/methodology/approach – Using Chinese macroeconomic data, this study uses numerical method to solve dynamic stochastic optimal...

According to agency theory, we hypothesize that underpayment of top management motivates management to overinvest. Using a sample of Chinese-listed companies for the period 2005-10, we assess the effect of managerial compensation on overinvestment and the effect of overinvestment on managerial...

In this paper, we examine the announcement effects of dividends with an emphasis on stock dividends in China's capital market. We find that dividend-paying stocks exhibit significantly positive abnormal returns while non-dividend-paying stocks show a negative announcement effect. Further, we...

This article presents the train timetabling problem in the complex railway network (including single-track line, double-track line, mixed-track line and terminal) and a solution algorithm. The problem is to determine the arrival, departure or through time of each train at each station on its...

This paper presents a case study of underground thermal storage in a solar-ground coupled heat pump system (SGCHPS) for residential buildings. Based on the experimental results, the operation performance is simulated by the unit modelling. The results show that the performance of underground...

Waste heat recovery has been commonly accepted as an efficient, clean, reliable, and promising approach to increase the utilization efficiency of primary energy and reduce the pollutant emissions. A RNGCS (retrofitted natural gas-based cogeneration system), in which domestic hot water is heated...

This paper investigates the Train Network Design Optimization problem arising from railroad industry which involves the integration of three inter-related decision sub-problems: train routing which is to identify origin, destination and itinerary for individual trains; block-to-train assignment...

The Red River valley experienced one of the worst floods in 1997 because of above average snow accumulation, a blizzard during the snowmelt period and high soil moisture conditions. A three-dimensional hydrodynamic modeling system is used to study the impact of the flood on the circulation and...

The global exponential synchronization of complex delayed dynamical networks possessing general topology is investigated in this contribution. The network model considered can represent both the directed and undirected weighted networks. Novel delay-dependent linear controllers are designed via...

Mobilized thermal energy storage (M-TES) system is considered as an attractive alternative to supply heat to distributed heat users, especially when the waste heat from industries is used as a heat source. From our previous study it was known that the charging time of M-TES system was more than...