Focused on the problem of low viability of Heat Integration (HI) scheme for complex system, a strategy and a method of hierarchical Heat Integration (HHI) were proposed in this paper. The practical limitations and energy target were combined stage by stage to determine the number of hierarchy...

The low temperature coal pyrolysis technology and the atmospheric and vacuum tar distillation were combined to establish a low-rank coal based process system, which can co-produce semicoke, syngas and light oil. And then the simulation models of key units and whole system were also developed. As...

<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>We examine the association between borrower (firm) and lender (bank) state ownership and accounting conservatism for a sample of Chinese firms. We hypothesize that state-owned enterprises (SOEs) adopt less conservative accounting than non-state-owned enterprises (NSOEs) because lenders...

We examine the relation between the use of collateral and financial reporting conservatism for a sample of Chinese firms. In the absence of flexibility in risk pricing through interest rates and strong contract enforcement in China, we find that lenders reduce collateral requirements from more...

This paper provides evidence of a negative association between macroeconomic uncertainty and the cross sectional dispersion of investment rate for a panel of Japanese manufacturing firms. We show that an increase in uncertainty leads to the narrowing of the cross section dispersion of investment...

Since the 1980s, important and progressive reforms have profoundly reshaped the structure of the Chinese banking system. Many empirical studies suggest that financial reform promoted bank competition in most mature and emerging economies. However, some earlier studies that adopted conventional...

The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act limited homestead exemptions and imposed means test to discourage petitioners seeking financial benefits. We find that these restrictions were effective in steering petitioners away from Chapter 7 filings and into Chapter 13.

The global luxury industry has seen steady growth for the last 15 years. It is one of the most attractive and profitable industries. Asia became the most potential region where the average income has risen significantly. Korea is one of the most attractive luxury markets in Asia. This study...