This paper investigates the influence of different financing channels—bond issuance or bank loans—as well as debt maturity and the quality of financial reporting on the cost of debt in China. The authors find that conservative accounting is an important characteristic of high-quality...

This paper investigates how the state-controlling ownership and the ownership through corporate pyramid structures affect the dividend policies of publicly listed firms in China. We find that the state-controlled firms in China pay higher dividends (measured by the dividend yield and the...

In this paper, we show that noise can transform a hybrid neural networks, whose solution may grow exponentially, into a new stochastic one, whose solution grows at most polynomially. In other words, we reveal that noise can suppress the exponential growth in hybrid Hopfield neural networks.

High smoothness and high stability are two most important characteristics in High-speed railway, which determine the significance and importance of settlement and deformation monitoring of underline engineering. The settlement observational data is complex and massive, only by reasonable and...

To evaluate the effect of phase change materials (PCMs) on the indoor thermal environment of greenhouses under different weather conditions and over a long time in the heating season, a study was carried out using both experimental method and numerical method. The study was conducted in a...

We describe a system to display real time travel times on Changeable Message Signs (CMS) in California. CMS's show dynamic information and allow the Traffic Management Center (TMC) to communicate to drivers information about traffic diversion, incidents, and delays. This type of service is...