http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.
변환된 중국어를 복사하여 사용하시면 됩니다.
Ethnic Ties in US Venture Capital Stage Financing
Na Ding 한국증권학회 2018 Asia-Pacific Journal of Financial Studies Vol.47 No.2
This paper examines the effect of ethnic ties on venture capital (VC) stage financing in the US market. After dealing with the endogeneity problem, the paper shows that VC investors who share ethnicity with an entrepreneur tend to finance the company using a smaller number of rounds, longer durations between successive rounds, and a larger amount in each round. The effect is more pronounced when the startup company and the VC firm are not located in the same city or the VCs lack industry-specific expertise. My findings also suggest that such trust due to co-ethnicity leads to bad investment performance.
Synchronization for a Class of Fractional-order Linear Complex Networks via Impulsive Control
Na Liu,Jie Fang,Wei Deng,Zhen-Jun Wu,Guo-Qiang Ding 제어·로봇·시스템학회 2018 International Journal of Control, Automation, and Vol.16 No.6
Up to now, the research topic about fractional-order complex networks is mainly focused on the synchronization. In this paper, synchronization for a class of fractional-order linear complex networks is realized via impulsive control. The general expression of solution for a fractional-order impulsive error system is deduced by utilizing iteration algorithm. Some inequality conditions are established to guarantee that the largest Lyapunov exponents of each node are negative, which means that the corresponding error system is asymptotic stable and synchronization is realized. It is the first time to achieve the synchronization of fractional-order systems based on the largest Lyapunov exponent. Finally, examples are present to illustrate the validity and effectiveness of proposed conclusions. Numerical simulations also indicate that the fractional-order parameter has a great influence on the largest Lyapunov exponent, although it is not reflected in the theoretical analysis.
Quantitative evaluation of through-thickness rectangular notch in metal plates based on lamb waves
Na Zhao,Bin Wu,Xiucheng Liu,Keqin Ding,Yanan Hu,Mahmoud Bayat 국제구조공학회 2019 Structural Engineering and Mechanics, An Int'l Jou Vol.71 No.6
Lamb wave technology is a promising technology in the field of structural health monitoring and can be applied in the detection and monitoring of defects in plate structures. Based on the reconstruction algorithm for the probabilistic inspection of damage (RAPID), a Lamb-based detection and evaluation method of through-thickness rectangular notches in metal plates was proposed in this study. The influences of through-thickness rectangular notch length and the angle between sensing path and notch length direction on signals were further explored through simulations and experiments. Then a damage index calculation method which focuses on both phase and amplitude difference between detected signals and baseline signals was proposed. Based on the damage index difference between two vertically crossed sensing paths which pass through the notch in a sensor network, the notch direction identification method was proposed. In addition, the notch length was determined based on the damage index distribution along sensing paths. The experimental results showed that the image reconstructed with the proposed method could reflect the information for the evaluation of notches.
딩마오(Ding Mao),나종길(Na, Chong Kil) 한국국제회계학회 2014 국제회계연구 Vol.0 No.58
미국의 Sarbanes-Oxley(SOC)법안이후 많은 나라에서 내부통제제도의 공시가 의무화되었다. 이와 관련하여 내부취약점 공시는 기업위험과 관련하여 새로운 정보를 자본시장에 제공하므로 자본시장이 부정적으로 반응한다고 선행연구들에서 보고되었다. 사회주의 경제체제를 가지는 중국은 사실상 2010년부터 본격적으로 내부통제제도가 시행되었다. 본 연구는 사회주의 경제체제이면서 내부통제제도의 공시역사가 매우 짧은 중국의 자본시장에서 내부통제취약점을 공시하는 기업에 대한 자본시장의 반응을 분석하였다. 분석결과 내부통제제도 취약점 공시일 주변에 통계적으로 유의한 음의 초과수익률이 나타나는 것으로 밝혀졌다. 또한 초과수익률에 영향을 미치는 기업특성변수를 통제하는 회귀분석에서도 내부통제취약점 공시에 대해 자본시장이 부정적으로 반응하는 것으로 나타났다. 이러한 결과는 비록 짧은 공시역사를 가지는 사회주의 경제체제인 중국에서도 내부통제제도의 취약점에 대한 공시가 기업가치에 대하여 정보성을 가진다는 것을 의미한다고 할 수 있다. In America, a disclosure of internal control system was obliged according to the Sarbanes-Oxley Act(SOX) legislated in 2002. Regarding informativeness of internal control system, studies about how capital market responds to the disclosure that the internal control system is weak have been made. Generally the evidence that capital market responds negatively to the disclosure of internal control weakness indicates that the disclosure of internal control system has a important informativeness. With the growing illegal acts and misconducts by management, China"s regulatory agency required listed companies to establish an effective internal control system in 2010. The purpose of this study is to investigate the market response to the disclosure of internal control weakness in Shenzhen market which provides enough number of sample firms. The abnormal stock return using market model was used to measure the market response to the disclosure. Empirical results are as follows. The firms that announced the weakness of internal controls showed lower abnormal returns than those of companies which did not. The regression analysis including control variable to abnormal returns also showed that capital market responded negatively to the firms that announced the weaknesses of internal control. Because of short history of internal control regulation in China, this study employed relatively small number of firms which announced the weaknesses of internal control. In spite of this limit, this study suggested that capital market in China indicates meaningful responses to the weakness of internal control.