To make full use of surplus electricity at night and even off the peak electric demands in the daytime, a residence(the Clean Energy House) with the earth heat storage system and the photovoltaic system is being developed in Kumamoto City, Kyushu Island. The thermal performance of the earth heat...

This paper studies the relationship between managers' private profit and agency cost using dynamic modelling methods. We conclude that the agency cost is a concave function of the managers' private profit and that the managers' private profit will lead to more investment cash outflow.