Panel asymmetric nonlinear unit root test and PPP in Africa

This study revisits purchasing power parity (PPP) theory for 20 African countries using panel asymmetric nonlinear unit root test proposed by Emirmahmutoglu and Omay (2014), through the sequential panel selection method of Chortareas and Kapetanios (2009). While standard panel unit root tests fail to support the PPP, the empirical results from panel asymmetric nonlinear unit root test do support the PPP. However, additional tests reveal that support in all 20 African countries is mostly due to stationarity of the real effective exchange rates of Ghana and Rwanda where the adjustment process towards equilibrium is nonlinear and asymmetric.     

Do banks really monitor? Evidence from CEO succession decisions

We demonstrate that banks play an important monitoring role in CEO succession that is not observed for other types of lenders, particularly public bondholders. There is a stronger relation between cash flow performance and forced CEO turnover for firms issuing bank debt during the year of CEO turnover than for firms not issuing bank debt, and bank debt issuance increases the likelihood of external CEO succession. The stock price reaction to CEO succession is higher when bank monitoring is prevalent. Our results are consistent with theories of relationship banking that propose a valuable monitoring role for well informed, incentivized bank lenders.     

Market power in CEE banking sectors and the impact of the global financial crisis

The aim of this study is to undertake an up-to-date assessment of market power in Central and Eastern European banking markets and explore how the global financial crisis has affected market power and what has been the impact of foreign ownership. Three main results emerge. First, while there is some convergence in country-level market power during the pre-crisis period, the onset of the global crisis has put an end to this process. Second, bank-level market power appears to vary significantly with respect to ownership characteristics. Third, asset quality and capitalization affect differently the margins in the pre-crisis and the crisis periods. While in the pre-crisis period the impacts are similar for all banks regardless of ownership status, in the crisis period non-performing loans have a negative effect and capitalization a positive effect only for domestically-owned banks.     

核电重启后我国核电建设前景分析

随着社会发展和生态环境日益恶化,清洁能源的地位日益凸现。核电是高效、稳定的清洁能源,是世界能源和电力发展不可或缺的一部分。本文综合分析了核电能源的竞争力,我国核电发展现状,以及核电发展对我国能源结构调整的重要性。随着今年两会报告中明确开工建设一批核电项目,我国核电建设步入实质性重启阶段,在此基础上本文最后对我国核电发展规模进行展望。     

电力系统自动化策略发展研究

迈入21世纪以来,电力工程及其自动化的技术取得了突飞猛进的发展。电力工程及其自动化是工业发展的有力助手,它的发展能为工业,甚至社会经济的发展带来源源不断的动力。虽然,目前的电力工程及其自动化的发展与建设存在着这样或那样的问题,但总的前进趋势是不可逆转的。本文对此进行一个分析阐述。     

浅析农网升级改造工程后台区线损管理

农村电网在升级改造完成后,如何降低线损便成为此后管理工作中的重中之重,这同时也是提高电力企业经济效益的迫切需要,本文就如何降低线损进行全方位,多方面的系统阐述并提出相应改进措施。     

输变电工程质量管理探析

输变电工程项目属于资金技术密集型项目,同时,项目施工的工程环境相对较差。如何保证项目的合理实施,是对输变电工程项目管理的重要考验。本文针对相关的质量风险体系和层次方法进行阐述,供同行参考。     

基于模块化多电平的海上风力发电系统的研究

针对海上风力发电远距离传输问题,本文提出了基于模块化多电平的高压直流输电系统(MMC-HVDC)。文章首先介绍了MMC-HVDC的基本工作原理和数学模型,然后提出了一种新型的功率解耦控制算法和电容电压平衡控制策略;利用MATLAB/SIMULINK进行仿真研究,仿真结果表明,MMC-HVDC具有传输功率高,动态响应速度快等优点,是一种具有工程应用价值的高压直流输电拓扑。     

72205综采工作面3300V高压供电技术改造

随着工作面功率的加大,矿井电压过低造成设备启动困难或不启动现象,甚至造成欠电压跳闸,因此1140V电压等级升高到3300V将是煤矿发展的前进方向。     

CEO继任模式与战略变革研究评述

CEO作为公司战略决策制定和执行的核心人物,其继任模式对战略变革的影响一直是学术界关注的热点课题。本文回顾CEO继任研究发展及CEO继任模式与战略变革关系的研究。