An empirical study on the impact of fair value measurement on rate of return on equity

Hongqing Tang 인하대학교 정석물류통상연구원 2009 인하대학교 정석물류통상연구원 학술대회 Vol.2009 No.10

The global financial crisis caused by the submitted lending one pushes fair value to the public view. The report submitted by SEC(Securities Exchange Commission) to the Congress clearly demonstrates the firm standpoint to continue using fair value. Fair value experiences a path of introduction-avoidance-reintroduction in my country. Under the background of current economic crisis, what kinds of influence will the reintroduction of fair value have on Chinese listed companies’ financial status? The answer to such a question has become a public concern and research hotspot. In this paper, we select a sample of 312 listed companies of the A-share market from 2006 to 2007 which hold trading financial assets to analyze the effects of the changes in the net profit margin excluding the profits and losses deriving from the changes in fair value (Referred to as the Profits and Losses, the same below) of trading financial assets and that in the ratio of the Profits and Losses to net income on rate of return on equity (ROE). The empirical results show; trading financial assets accounts for a small proportion of total assets; the changes in the net profit margin is positively related to those in ROE at 1% significance level; the changes in the ratio of the Profits and Losses to net income have no significant impact in ROE; the Profits and Losses do not become the means in significantly improving and reducing corporate performance, nor exaggerate the market risk; the size of total assets of sample companies is slightly positively related to ROE at 10% significance level, which means an economy of scale exists; the ratio of liabilities to total assets is negatively related to ROE at 5% significance level. The above empirical results are useful guidance for the academic and practical circles to correctly recognize the measurement attribute of fair value.

Quaternion Discrete Tchebichef Moments and Their Applications

Hongqing Zhu,Qian Li,Qian Liu 보안공학연구지원센터(IJSIP) 2014 International Journal of Signal Processing, Image Vol.7 No.6

The concept of the quaternion is useful for colour image processing and recognition. This paper introduces quaternion discrete Tchebichef moments (QTM), which use the traditional Tchebichef moments (TM) of each colour channel to describe colour images. A set of invariants that are invariant to translation and scale transformations is introduced for colour object recognition and image classification. A theoretical framework is provided for the recognition of colour face images by combining the proposed quaternion Tchebichef moment functions with the sparse representation classification (SRC) strategy for improving recognition despite partial occlusions. Simulation results on standard colour face databases demonstrate the effectiveness of the proposed algorithm, even when the images include Gaussian or pepper-and-salt noise.

The stiffness and buckling behavior of panels with stamping-induced imperfections

Hongqing Shen,Shuhui Li,Guanlong Chen 한국소성가공학회 2011 기타자료 Vol.2011 No.8

With the decrease of sheet thickness, the stiffness and buckling behavior of automobile body panel are more and more concerned. In this paper, the stiffness and buckling behavior of panels with stamping-induced imperfection is studied. Imperfections caused in drawing and springback are obtained by finite element analysis and introduced to define the initial state of the panel before indenting. The indenting procedure is simulated in ABAQUS Standard. In order to solve the buckling problem, a viscous pressure that is proportional to the relative velocity between surfaces is added artificially. For comparison, a simplified model in which imperfections are not considered is also established. Comparing the simulation results with the reference experiment, we find that the stamping-induced imperfections lead to a more severe oil canning phenomena under a buckling load, although they increase panel’s initial stiffness a bit. Moreover, among all stamping-induced imperfections, the geometrical imperfection (surface deflection) is beneficial to increase panel’s buckling load, and the material imperfections (residual stress and uneven thickness) help to decrease panel’s buckling load and can make oil canning more severe during post-buckling. Influences of blank holder force, sheet thickness and material property on panel stiffness and buckling behavior are also studied. The work of this paper is beneficial to processing optimization, material selection, and reinforcement design for automotive exterior panels.

Representation of Videokeratoscopic Height Data Using a Set of Discrete Tchebichef Orthogonal Polynomials

Hongqing Zhu,Min liu,Huazhong Shu,Jin Zhang,Hui Zhang 보안공학연구지원센터(IJSIP) 2010 International Journal of Signal Processing, Image Vol.3 No.3

Hysteresis of concrete-filled circular tubular (CFCT) T-joints under axial load

Liu Hongqing,Shao Yongbo,Lu Ning,Wang Qingli 국제구조공학회 2015 Steel and Composite Structures, An International J Vol.18 No.3

This paper presents investigations on the hysteretic behavior of concrete-filled circular tubular (CFCT) T-joints subjected to axial cyclic loading at brace end. In the experimental study, four specimens are fabricated and tested. The chord members of the tested specimens are filled with concrete along their full length and the braces are hollow section. Failure modes and load-displacement hysteretic curves of all the specimens obtained from experimental tests are given and discussed. Some indicators, in terms of stiffness deterioration, strength deterioration, ductility and energy dissipation, are analyzed to assess the seismic performance of CFCT joints. Test results indicate that the failures are primarily caused by crack cutting through the chord wall, convex deformation on the chord surface near brace/chord intersection and crushing of the core concrete. Hysteretic curves of all the specimens are plump, and no obvious pinching phenomenon is found. The energy dissipation result shows that the inelastic deformation is the main energy dissipation mechanism. It is also found from experimental results that the CFCT joints show clear and steady stiffness deterioration with the increase of displacement after yielding. However, all the specimens do not perform significant strength deterioration before failure. The effect of joint geometric parameters β and γ of the four specimens on hysteretic performance is also discussed.

IDO promotes the proliferation and invasion of prostate cancer cells through KYNU

Zhou Hongqing,Wang Wei,Liu Mingsheng,Xie Pingbo,Deng Tibin,Peng Jiaxi,Xu Chenxiang 한국유전학회 2023 Genes & Genomics Vol.45 No.3

Background Prostate cancer (PCa) is one of the most common malignant tumors in male. Objective To explore the effect of indoleamine-2, 3-dioxygenase (IDO) on the proliferation and invasion of PCa cells and the potential mechanism. Methods PCa tissues and normal adjacent tissues were collected from 43 PCa patients. The expression of IDO in PCa tissues and cell lines were detected. The String website was used to search for IDO-related proteins. The GEPIA website was used to analyze the relationship between KYNU and the prognosis of PCa. Cells models of IDO overexpression and/or KYNU silencing were constructed to verify the role of KYNU in regulating PCa. The cell proliferation, apoptosis and invasion ability of PCa cells were detected by CCK-8 assay, Flow cytometry and Transwell assay. Results The IDO levels in PCa tissues and cells were higher than those in normal tissues and cells, which promoted the proliferation and invasion of LNCaP cells, and inhibited apoptosis. Silencing IDO inhibited the cells proliferation and invasion activities, and promoted the cell apoptosis. The high expression of KYNU was related to the poor disease free survival of PCa patients. Inhibiting KYUN significantly inhibited the promotion of PCa induced by IDO. Conclusion IDO is overexpressed in PCa, which promotes the proliferation and invasion of PCa cells, and the cancer-promoting mechanism may be related to KYNU.

Can exercise visual stimulation affect visual spatial attention in a college students?

( Shanshan Wu ),( Hongqing Ji ),( Xiaolong Liu ),( Jung-jun Park ) 대한운동사협회 2017 대한운동사협회 운동사대회자료집 Vol.2017 No.-

Image Segmentation by Student's-t Mixture Models Based on Markov Random Field and Weighted Mean Template

Xu Pan,Hongqing Zhu,Qunyi Xie 보안공학연구지원센터 2016 International Journal of Signal Processing, Image Vol.9 No.2

Finite mixture model (FMM) with Gaussian distribution has been widely used in many image processing and pattern recognition tasks. This paper presents a new Student's-t mixture model (SMM) based on Markov random field (MRF) and weighted mean template. In this model, the Student's-t distribution is considered as an alternative to the Gaussian distribution due to the former is heavily tailed than Gaussian distribution, thus providing robustness to outliers. With the help of the weighted mean template, the spatial information between neighboring pixels of an image is considered during the learning step. In addition, the proposed method is able to impose the smoothness constraint on the pixel label by using MRF. Furthermore, an efficient energy function and a novel factor are applied in current model to decrease the computational complexity. Numerical experiments are presented on simulated and real world images, and the results are compared with other FMM-based models.

Assessment of Compost Maturity on Their Different Stages with Microbial and Biochemical Mass Dynamics

Arumuganainar Suresh,Zhu Kun,Hongqing Yao,최홍림 유기성자원학회 2009 유기물자원화 Vol.17 No.4

Microbial and related biochemical mass of composts are important for optimization of its process and end-products. This study was carried out to assess the specific microbial and related biochemical mass which could be used as an indicator for compost maturity during composting stages. The samples from five compost plants were collected at three stages (Initial, Thermophilic and Mature) and analyzed for total aerobic bacteria (TAB), Coliforms, Escherichia coli, Actinomycetes and fungi. Significantly, the coliforms and E.coli counts decreased during the thermophilic stage and were completely eliminated during the mature stage. However, the other microbial mass were not eliminated during mature stage. Which disclosed that Coliforms and E.coli communities can be used as compost maturity indicator. Interestingly, the microbial biomass carbon and nitrogen ratio (MBC/MBN) were decreased a little during the thermophilic stage due to the decreasing number of coliforms, Ecoli and fungi, while the ratio increased during the mature stage due to increasing fungal and aerobic bacterial counts. In addition the heavy metals were shown strong negative correlation with Actenomycetes. This study provides insight to the evaluation of compost maturity as well as the quality by the metal-microbial interactions.

Improved Single-Tone Frequency Estimation by Averaging and Weighted Linear Prediction

Hing Cheung So,Hongqing Liu 한국전자통신연구원 2011 ETRI Journal Vol.33 No.1

This paper addresses estimating the frequency of a cisoid in the presence of white Gaussian noise, which has numerous applications in communications, radar, sonar, and instrumentation and measurement. Due to the nonlinear nature of the frequency estimation problem, there is threshold effect, that is, large error estimates or outliers will occur at sufficiently low signal-to-noise ratio (SNR) conditions. Utilizing the ideas of averaging to increase SNR and weighted linear prediction, an optimal frequency estimator with smaller threshold SNR is developed. Computer simulations are included to compare its mean square error performance with that of the maximum likelihood (ML) estimator, improved weighted phase averager, generalized weighted linear predictor, and single weighted sample correlator as well as Cramér-Rao lower bound. In particular, with smaller computational requirement, the proposed estimator can achieve the same threshold and estimation performance of the ML method.