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This paper presents a new interval optimization algorithm (ESIA) combining interval algorithm with evolution strategy in bionics., to improve the search efficiency and make the accelerated tool constructed easier comparing with the traditional interval algorithm (IA), hence it can be applied to high dimensional optimization problems better. The ESIA employed the evaluation strategy to construct accelerated...
Metals (Al, Zn, Ti)-doped hematite is prepared from blast furnace dust through sulfolysis and hydrothermal processes, where all the Fe and dopants (Al, Zn and Ti) are recovered from the dust without any chemical agents as start materials. Results indicate that the dust-derived hematite shows an enhanced methylene-blue’s photodegradation rate of 72.2% than the pristine one within 150min under simulated...
In order to overcome the shortcoming of being trapped in local minima in basic FSOA(an optimization approach on using fishing strategy), an improving FSOA is presented based on stochastic search. The improving algorithm makes use of the stochastic searh approach and do not adopt the strategy of constricting search. It shows, from the experimental simulation results of some typical benchmark optimization...
The aim of this paper is to examine changes in information asymmetry around the merger announcements. Empirical studies generally find evidence of a significant reaction of stock price or bid-ask spread before the initial announcement date, but they do not consider separately the different components of the spreads, nor do they take into account the implications of the market microstructure on the...
Based on the data of listed companies between 2002 and 2004, this paper analyses how the earnings quality, measured by accrual quality, affects the list companies' agency costs of managerial discretion. It reveals: earnings quality affects the list companies' agency costs of managerial discretion significantly, the agency costs decreases with the improvement of earnings quality. The results are robust...
High quality accounting information can help mitigate the information asymmetry of the Principal-Agent problem. So, it has a great effect on the corporate governance. Using instrumental variables and panel data model, this paper analyses how the earnings quality, measured by accrual quality, affects the agency costs of controlling shareholder empirically. It reveals that earnings quality affects the...
This paper surveys the fields of relationship between the stock future returns and dividend yield. We studied if the dividend-price ratio can be used as a predictor of future returns. According to the accounting identity, we have an implication that the asset price should predict a discounted sum of future dividends and that the price-dividend ratio should predict a discounted sum of future changes...
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