This paper generalizes the M-square and M-vector models (Fong and Fabozzi [1985] and Nawalkha and Chambers [1997]) by using a Taylor series expansion of the bond return function with respect to simple polynomial functions of the cash flow maturities. The classic M-vector computes the weighted...

China's industry has experienced robust growth under persistent structural reform since 1978. By estimating the stochastic frontier sectoral production function, we find that the TFP growth has exceeded the quantitative growth of inputs since 1992, but the contribution of productivity to output...

This paper uses a Directional Distance Function (DDF) and the Malmquist–Luenberger Productivity Index to estimate the changing patterns of ‘green’ total factor productivity (GTFP) growth of 38 Chinese industrial sectors during the period 1980–2010. Unlike the measures of traditional...

China has been stressing the needs of promoting regional sustainable development through industrial transformation. In the northwest region of China, which is faced with both urgent socioeconomic development and fragile ecological conditions, with water scarcity being one of the major...

Since solid oxide fuel cells (SOFC) produce electricity with high energy conversion efficiency, and chemical looping combustion (CLC) is a process for fuel conversion with inherent CO2 separation, a novel combined cycle integrating coal gasification, solid oxide fuel cell, and chemical looping...

The rapid economic growth after the new millennium could be characterized by the reappearance of heavy industrialization and land urbanization. In the literatures, extensive studies have examined the impact of energy and emissions on the growth quality during the heavy industrialization process,...

Integrated gasification combined cycle (IGCC) is a power generation technology to convert solid fuels into electricity. IGCC with CCS is regarded as a promising option to mitigate CO2 emission. In this paper, the CaO sorption-enhanced process is incorporated downstream with coal gasification to...

Porter hypothesis states that environmental regulation may lead to win-win opportunities, that is, improve the productivity and reduce the undesirable output simultaneously. Based on directional distance function, this paper proposes a novel dynamic activity analysis model to forecast the...