Organizational Design,Competition, and Financial Exchanges

We investigate the incentives for vertical and horizontal integration in the financial securities service industry. In a model with two exchanges and two central securities depositories (CSDs), we find that decentralized decisions might lead to privately and socially inferior industry equilibria with vertical integration of both CSDs with their respective exchanges. Allowing for horizontal integration of CSDs avoids privately inferior industry equilibria. However, we observe too little horizontal integration from the social perspective. We link our results to recent regulatory and institutional developments such as the emergence of multilateral trading facilities, over-the-counter regulation, and financial harmonization.     

Equity and the environment: An application of the Berliant–Strauss vertical and horizontal equity framework to measuring the distributional effects of air quality regulation

The distributional effects of a major air regulation in the United State in 2015 were analyzed using Berliant and Strauss Index Numbers, a set of theoretical and empirical equity metrics, and reduced‐form models that estimate the mortality effects of air pollutant emissions and their source contributions. By viewing the effects of pollution on human mortality as an implicit tax, we found progressivity in 54% to 56% of vertical comparisons and inequity in 92% to 94% of horizontal comparisons. The introduction of the proposed policy made 58% of vertical comparisons more progressive and was equitable to 70% of horizontal comparisons.     

探析横管式煤气初冷器阻力大的原因及应对措施

在焦化行业内,炼焦过程必将产生大量焦炉荒煤气,采用煤气鼓风对焦炉荒煤气进行处理就成为工作重点,不仅能够促进环境的改善,还可以回收荒煤气中大量的化工原材料,并带来较大的经济效益。但在焦化厂实际生产中,横管式煤气初冷器常常因阻力过高发生故障,对煤气鼓风机的正常运作形成干扰,造成装置沉积物阻塞与环境污染等问题。论文以湖北中平鄂钢联合焦化有限责任公司的横管式煤气初冷器为实例,简要分析阻力增大的原因及应对措施。     

基于Fluent的波节管内流体流动与传热特性研究

为了深入研究影响波节管传热效果的主要因素,应用CFD软件Fluent对波节管内流体的流动和传热特性进行数值模拟,分别研究了不同入口流速v(0.3,0.5,0.7和0.9 m/s)、波峰直径D_1(28,30,32,34和36 mm)、弧形段长S_1(34,23,17,13和10 mm)下波节管内流体的流动与传热特性。结果表明,不同型号波节管的努塞尔数(Nu)、流体压力损失以及综合性能随着入口流速的增加而增加;随着波峰直径D_1(弧形段长S_1)的增大,波节管的Nu先增大后减小,最后趋于一个相对稳定的值。当波节管的波峰直径D_1=34 mm时,波节管的传热性能最好,流体压力损失最大,综合性能最好;弧形段长S_1=23 mm时,波节管的换热性能最佳,流体压力损失最大,综合性能最好。通过参数正交分析可知,影响波节管传热效果的因素由强到弱依次为入口流速v、波峰直径D_1、弧形段长S_1。研究成果可为工程实际中提高波节管传热性能提供理论指导。     

高大平房仓储粮减损增效探索

高大平房仓储粮第一年秋、冬低温季节利用小功率风机进行下行式机械通风降低基础粮温;储存稳定期在确保储存安全的前提下,进入第2年、第3年秋冬季节则采用自然通风;气温上升季节对仓房实施隔热密闭、仓顶喷淋等一系列控温措施,在低能耗的情况下,可有效控制粮温,且大大减少了因通风产生水分散失而造成的储粮损耗.经过3年的储藏,损耗率低至1.42‰,且稻谷品质达到要求,降低储粮保管费用.     

Does foreign investment benefit the exporting activities of Vietnamese firms?

Using firm-level data, this paper examines the effects of foreign investment on the exporting behaviour of domestic firms in the Vietnamese manufacturing and service sectors. Applying the Heckman selection model on panel data and following the Wooldridge approach, we find that investment by foreign firms has a significant positive effect on the decision of domestic firms in the same and upstream sectors to export. The proportion of exports of domestic firms declines through horizontal and forward linkages, but increases through backward linkages in the manufacturing sector. However, there is only weak evidence in support of export spillovers on domestic firms in the service sector. We also find that the presence of foreign firms has differing effects on the exporting activities of low- versus high-tech firms in the manufacturing sector.     

A triple‐win scenario for horizontal collaboration in logistics: Determining enabling and key success factors

Horizontal collaborations emerged as a new strategic option in the logistics sector during the last decade. However, successful implementation of horizontal collaborations is far from a developed issue due to several barriers that exist or emerge when setting up such collaborative projects. This study aims at identifying the enabling factors supporting successful implementation of horizontal collaborations in the logistics sector, and in identifying key success factors that logistics service providers (LSPs) should consider. Results from a within‐ and cross‐case analysis of two horizontal collaboration projects in the contract logistics sector support the proposed theoretical framework, highlighting both enabling and key success factors of horizontal collaborations. The former refers to factors that are related to LSPs, customers, and industries, whereas the latter results in a triple‐win scenario characterised by LSP competences, trust, and environmental management orientation of successful horizontal collaboration projects.     

浅谈BM轻骨料连锁砌块施工技术

我国城镇化建设的持续推进和施工技术的飞速发展大大推动了新型建筑材料及其施工技术的发展和应用,例如砌筑、保温、防水等材料。文章以某大型商业楼工程为例,主要介绍了该工程砌体BM轻骨料连锁砌块的工程特难点、施工准备、施工要点及优缺点等内容,同时提出了施工建议。     

DEFINING RELEVANT MARKETS FOR PHARMACEUTICALS

To identify the relevant product markets for Swedish pharmaceuticals, a spatial econometrics approach is employed. First, we calculate Moran's Is for different market definitions and then we use a spatial Durbin model to determine the effect of price changes on quantity sold of own and competing products. As expected, the results show that competition is strongest between close substitutes; however, the relevant product markets for Swedish pharmaceuticals extend beyond close substitutes down to products included in the same class on the four‐digit level of the Anatomic Therapeutic Chemical system as defined by the World Health Organization. The spatial regression model further indicates that increases in the price of a product significantly lower quantity sold of that product and in the same time increase the quantity sold of competing products. For close substitutes (products belonging to the same class on the seven‐digit level of the Anatomic Therapeutic Chemical system), as well as for products that, without being close substitutes, belong to the same therapeutic/pharmacological/chemical subgroup (the same class on the five‐digit level of the Anatomic Therapeutic Chemical system), increased competition is also visible after 1 July 2009 when the latest policy changes with regards to pharmaceuticals have been implemented in Sweden.     

透过亚当斯领略黑白摄影的魅力

在漫长的黑白摄影发展的进程中,摄影大师安塞尔·亚当斯做出了卓越的贡献,尤其是"f64小组"和完善的区域曝光系统成为摄影史上的里程碑。黑、白、灰黑白摄影演绎着影调与影像的经典,即使在现代彩色摄影高度发展的今天,黑白摄影并没有失去它往日的光彩,也不会被彩色摄影所更替,它将以独特的魅力,以单纯、洗练、视觉冲击力强等审美优势继续发展,创造更多视觉财富。