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Subcontracting and International Trade Policy
( Wen Jung Liang ),( Ho Chyuan Chen ),( Mau Shan Shi ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2003 Journal of Economic Integration Vol.18 No.2
This paper examines the optimal trade policies when international subcontracting occurs between two competing firms. It shows that if the strategic substitutes effect dominates the cost saving transfer effect, then the exporting country will impose a different policy on each export. In contrast, if the cost saving transfer effect dominates the strategic substitutes effect, then the exporting country will impose a tax policy on both exports. However, there has never existed an optimal policy to subsidize the export of both the subcontracted product and final product. Even though the exporting firm assumes away its export of the final good, to subsidize the export of the subcontracted good is not necessarily an optimal policy for the exporting country. For the importing country, if the price elasticity of demand is sufficiently small and the marketing cost of the final product is large enough, then it is optimal to set a negative tariff.
Strategic Export Policy in the Presence of Subcontracting
( Wen Jung Liang ),( Ho Chyuan Chen ) 세종대학교 경제통합연구소 (구 세종대학교 국제경제연구소) 2007 Journal of Economic Integration Vol.22 No.4
This paper examines the optimal export policies when ex ante negotiation over subcontract manufacturing occurs between two competing international-firms. It show that it could be optimal for the exporting country to adopt either a different or a parallel trade policy between the two exporting goods (the final product and the subcontracted product). However, a different trade policy that taxes the finalproduct export and subsidizes the subcontracted-product export is not ever optimal. When the exporting firm is a pure subcontractor, taxing the single export (subcontracted product) becomes the only optimal trade policy of the exporting country. Morever, the exporting country imposes a less aggressive trade policy in response given that the importing country inflicts a more aggressive trade policy.
Liquidity Commonality in Individuals’ Order Flows: New Evidence from the Taiwanese Stock Market
Wen-liang Gideon Hsieh,Yuan-yi Lin 한국증권학회 2016 Asia-Pacific Journal of Financial Studies Vol.45 No.4
By using data that distinguish order flow among types of trader, we provide new evidence that retail investors’ trading leads to strong liquidity commonality in the Taiwanese stock market. The liquidity provision of retail traders is cross-sectionally correlated with each other and comoves closely with the market-wide liquidity. Order flows of foreign and domestic institutional traders, despite co-moving within their order flows, contribute substantially less to the market-wide commonality. Commonality is stronger for large and index-included stocks. The size effect and index inclusion effect are found for retailers’ order flows but not with institutional liquidity provision. Our results suggest that herd trading among retail investors can drive liquidity commonality in markets with active individual participants.
Wen Liang,Qing Yuan,Sheng Liu,Guang Xu 대한금속·재료학회 2021 METALS AND MATERIALS International Vol.27 No.6
In order to reveal the formation mechanism of microstructural delamination in flange steel during punching, the microstructuralcharacteristics of flange steels with 0.064, 0.085, and 0.101 wt% carbon contents were analyzed by an opticalmicroscope, optical emission spectrometer, metal in situ analyzer, and electron probe microanalyzer. It was found that microstructuraldelamination occurred due to C and Mn segregation, especially the former. The intensive segregation degree ofC was dependent on its relatively smaller partition coefficient. Moreover, the segregation degree gradually decreased withthe decreasing carbon content. And the increased segregations of elements except carbon were related to the coupling effectbetween different alloying elements. Furthermore, C and Mn were prone to segregate at the 1/4th position along the transversedirection of the casting slab; hence, almost no segregation was noticed at the edge of the casting slab. The homogenizationtreatment had a substantial effect on the elimination of C segregation; however, Mn segregation was relatively hard to beremoved.
Mechanical Response of Buried Polyethylene Pipeline Beneath the Roadway and Its Influential Factors
Liang Li,Gou Wen-Jin,Tian Da-Lang,Yu Wen-Da 한국전기전자재료학회 2020 Transactions on Electrical and Electronic Material Vol.21 No.4
In order to investigate the 2D mechanical response of fl exible buried pipeline beneath roadway under static loads, taken high density polyethylene as object, ANSYS fi nite element commercial software is employed to construct pipe-soil interacting coupled model. By means of newly developed model, the infl uence of burial depth, diameter of pipe and modulus of backfilled earth on deformation and mechanical characteristics of pipe is studied. Furthermore the viscoelastic properties of tubular product are considered to simulate creep deformation of pipe under constant loading. These results indicate that: (1) the maximum vertical displacement and Von Mises stress appear at top of pipe and side of internal surface of pipe, respectively; (2) the viscoelastic properties significantly improve the safety of pipe; (3) even if burial depth does not have signifi cant effect on mechanical characteristics of pipe, there is optimal burial depth; (4) the greater the diameter of conduits, the larger modulus backfi lled earth, the more diffi cult it is to destroy pipe breaks.
( Wen Jing Liang ),( Guo Zhang ),( He Sheng Luo ),( Lie Xin Liang ),( Dan Huang ),( Fa Can Zhang ) 대한간학회 2016 Gut and Liver Vol.10 No.3
Background/Aims: Previous studies have revealed that mast cells (MCs) may activate the protease-activated receptors and release of neuropeptides involved in the pathogenesis of irritable bowel syndrome (IBS). The levels of proteaseactivated receptor 2 (PAR-2) and tryptase can contribute to understanding the pathogenesis of IBS. Methods: Colonoscopic biopsies were performed of 38 subjects (20 with IBSdiarrhea [IBS-D], eight with IBS-constipation [IBS-C], and 10 healthy volunteers). The mRNA and protein levels of tryptase and PAR-2 were assessed by real-time PCR and Western blot. The levels of vasoactive intestinal peptide (VIP), substance P (SP), and calcitonin gene-related peptide (CGRP) were measured by immunohistochemistry, and MCs were counted by toluidine blue staining. Results: Significant increases in the mRNA expression of tryptase (p<0.05, IBS-D, IBS-C vs control) and PAR-2 (p<0.05, IBS-D, IBS-C vs control) and in the tryptase protein level (p<0.05, IBS-D, IBS-C vs control) were detected in IBS. Elevations of MCs, CGRP, VIP and SP (p<0.05, IBS-D vs control) were observed for IBS-D only. Conclusions: Tryptase levels may upregulate the function of PAR- 2, resulting in the release of neuropeptide and they were correlated with clinical symptoms associated with IBS. (Gut Liver 2016;10:382-390)
Wen-Liang Wang,Pei-Pei Liu,Ya-Peng Zhang,Jing Li,Hong-Wen Tao,Qian-Qun Gu,Wei-Ming Zhu 대한약학회 2009 Archives of Pharmacal Research Vol.32 No.9
A new hopane type pentacyclic triterpenoid, 2-hydroxydiplopterol (1) has been isolated from the metabolites produced by the halotolerant fungal strain Aspergillus variecolor B-17. The structure of 1 was determined by spectroscopic methods and single crystal X-Ray diffraction analysis. 2-Hydroxydiplopterol (1) exhibited cytotoxicity against K562 cells with an IC50 value of 22 μM.
Liang Bai,Huilin Wei,Bin Wang,Fangfang Liao,Tianhua Zhou,Xing-Wen Liang 국제구조공학회 2023 Steel and Composite Structures, An International J Vol.47 No.1
This paper presented an investigation into steel tubes encased high-strength concrete (STHC) composite walls, wherein steel tubes were embedded at the boundary elements of high-strength concrete walls. A series of cyclic loading tests was conducted to evaluate the failure pattern, hysteresis characteristics, load-bearing capacity, deformability, and strain distribution of STHC composite walls. The test results demonstrated that the bearing capacity and ductility of the STHC composite walls improved with the embedding of steel tubes at the boundary elements. An analytical method was then established to predict the flexural bearing capacity of the STHC composite walls, and the calculated results agreed well with the experimental values, with errors of less than 10%. Finally, a finite element modeling (FEM) was developed via the OpenSees program to analyze the mechanical performance of the STHC composite wall. The FEM was validated through test results; additionally, the influences of the axial load ratio, steel tube strength, and shear-span ratio on the mechanical properties of STHC composite walls were comprehensively investigated.