Table of Content

    29 February 2016, Volume 21 Issue 1 Previous Issue    Next Issue

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    Optimization Design and Experiment of the Radio Frequency Transmission Utilized in Video Capsule Endoscope
    LIU Gang* (刘刚), YAN Guozheng (颜国正), ZHU Bingquan (朱柄全), XU Wenming (徐文铭)
    2016, 21 (1):  1-6.  doi: 10.1007/s12204-016-1692-5
    Abstract ( 459 )  
    In view of fuzzy and unstable images received in video capsule endoscopy, and the poor communication effect, an improved radio frequency (RF) transmission circuit module with low power consumption and helix antenna is designed to improve the performance of video transmission and to extend the working time of the capsule. Simulation and analysis of the circuits and antenna with HFSS12 and ADS2011 software are highlighted. Video capsule endoscope prototypes are made and evaluated to verify the feasibility of the proposed design. In vitro tests and animal experiments show that the results of the antenna tests basically meet the simulation, and the power consumption of RF circuit is 15.9mV. The video capsule endoscope works well with the receiver with multiple receiving antennas, and the working time is more than 9 h. It can realize the wireless transmission of the video data, and images received are clear and stable in comparison with the previous designs.
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    Wind-Induced Effect of a Spatial Latticed Dome Structure Using Stabilized Finite Element Method
    LU Jiabaoa,c (鲁佳宝), WANG Xuna (汪汛), ZHOU Daia,b,c* (周岱), LI Fangfeia (李芳菲), WANG Zitonga (王子通)
    2016, 21 (1):  7-17.  doi: 10.1007/s12204-016-1693-4
    Abstract ( 584 )  
    A stabilized finite element algorithm potential for wind-structure interaction (WSI) problem is presented in this paper. Streamline upwind Petrov-Galerkin (SUPG) scheme of the large eddy simulation (LES) of dynamic sub-grid scale (DSGS) is developed under the framework of arbitrary Lagrangian-Eulerian (ALE) description to solve the governing equations. High stabilization is achieved by a three-step technique in the temporal discretization. On the other hand, the partitioned procedure is employed for the consideration of the coupled WSI problem. Newmark integral method is introduced for the computation of structure domain, while spring analogy method is used for the grid update of the mesh domain. The developed computational codes are applied to the analysis of wind-induced effect of a spatial latticed structure. The numerical predictions of the three-dimensional wind flow features, the wind pressures and the wind-induced effect of spatial structures are given. Comparisons are made between the effects of rigid structure in view of the WSI.
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    Multilingual Financial News Retrieval and Smart Recommendation Based on Big Data
    LIANG Ye (梁野)
    2016, 21 (1):  18-24.  doi: 10.1007/s12204-016-1694-3
    Abstract ( 353 )  
    In view of the study of finance and economics information, we research on the real-time financial news posted on the authority sites in the world’s major advanced economies. Analyzing the massive financial news of different information sources and language origins, we come up with a basic theory model and its algorithm on financial news, which is capable of intelligent collection, quick access, deduplication, correction and integration with financial news’ backgrounds. Furthermore, we can find out connections between financial news and readers’ interest. So we can achieve a real-time and on-demand financial news feed, as well as provide a theoretical basis and verification of the scientific problems on real-time processing of massive information. Finally, the simulation experiment shows that the multilingual financial news matching technology can give more help to distinguish the similar financial news in different languages than the traditional method.
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    Comparison Between North-South Aid and South-South Cooperation:Based on the Analysis of the New Development Finance Institutions
    CUI Wenxing (崔文星)
    2016, 21 (1):  25-32.  doi: 10.1007/s12204-016-1695-2
    Abstract ( 455 )  
    According to the different players, development cooperation is often divided into North-South Aid and South-South Cooperation, both of which have a history of several decades. Since the beginning of the 21st century, the rise of a number of emerging economies has brought South-South Cooperation into a new stage, which can be seen from the establishment of some new development finance institutions led by developing countries. BRICS Bank, Asia Infrastructure Investment Bank (AIIB) and Silk Road Fund are three important new development finance institutions. Compared with the traditional development finance institutions like World Bank and International Monetary Fund (IMF), they have their own concepts of development cooperation, which are different from the traditional ones. First, the new finance institutions pay more attention to the equality between partners, not imposing conditions and respecting the ownership of development partners. Second, the new development finance institutions value the market philosophy, which means that they emphasize the importance of field investigation and implement development cooperation in accordance with the actual needs of the partners and the comparative advantages of the providers. Finally, the new development finance institutions focus their resources on problem-solving and avoid doctrines-imposing. They believe that it is easier for the developing countries to achieve development through a gradual and bottom-up model. Although there are differences between the traditional and new development finance institutions, the latter is not parallel to or substitute of the former. They can cooperate with each other and provide better public goods for international cooperation through inclusive competition.
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    Review of Managing the Risks of Offshore Banking and Its Implications for the China (Shanghai) Pilot Free Trade Zone
    ZHANG Chuanyong (张传勇)
    2016, 21 (1):  33-43.  doi: 10.1007/s12204-016-1696-1
    Abstract ( 457 )  
    As more and more Chinese and foreign-funded banks settle in the China (Shanghai) Pilot Free Trade Zone (CSPFTZ), it has become an imperative to enhance risk management of offshore banking. At the international level, the regulatory effort for offshore banking mainly focuses on tax evasion and money laundering. Existing regulatory frameworks have established standards to identify countries providing facilities for money laundering and developed punitive measures. In terms of strategy, it is suggested that, firstly, relevant regulatory measures should be improved in the short term, and it is necessary to define the scope of offshore banking and regulatory measures for Chinese banks and foreign-funded banks under a suitable legal framework. Secondly, it is necessary to establish risk exposure mechanism and risk evaluation system for the offshore banking in the CSPFTZ, while risk management measures are implemented based on on-site supervision. Thirdly, in the medium and long term, it is necessary to enhance management of potential risks which can be created by offshore banking due to deregulation. Fourthly, on the one hand, specific regulations should be formulated to provide a regulatory basis for taxation; on the other hand, tax informational exchange agreements (TIEAs) may be used as a reference for achieving effective tax regulation.
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    Formal or Informal? The Dispute Settlement Mechanisms of China’s Free Trade Agreements
    ZHAO Jun1,2* (赵军), HU Yu3 (胡妤)
    2016, 21 (1):  44-50.  doi: 10.1007/s12204-016-1697-0
    Abstract ( 387 )  
    The dispute settlement mechanism (DSM) has long been the focus of attention because of its significant role in the institutional construction of China’s free trade agreements (FTAs). Thus, this paper is to make an analysis of the DSMs of China’s established FTAs from a legal perspective of international regime study, which leads to the finding of a co-existence mode of formal and informal DSMs in China’s FTAs. This paper also discusses the motivation and significance of such a choice.
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    Price Fluctuation, Risk Hedge and Choice of Optimal Point
    ZHAO Chengzhen1* (赵成珍), BU Wei2 (卜伟), SONG Jinling3 (宋锦玲)
    2016, 21 (1):  51-56.  doi: 10.1007/s12204-016-1698-z
    Abstract ( 490 )  
    On the question of optimal hedge ratio, this paper firstly draws the chance to choose a market-entering point to the model. Using the replication principle of finance engineering, we make an assumed equity and get the optimal hedge ratio of the model, which gives the theoretical support to the practice. We should not only concern on the market-entering point, but also concern on the period of the hedge that still influences the effect of hedging. But only the period of hedging gives its affection if the time is relatively long.
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    Pricing Credit Default Swap with Contagious Risk and Simulation
    HAO Ruili1,2* (郝瑞丽), ZHANG Jinqing1 (张金清), LIU Yonghui3 (刘永辉), HU Zhouhong4 (胡周红)
    2016, 21 (1):  57-62.  doi: 10.1007/s12204-016-1699-y
    Abstract ( 562 )  
    This paper mainly studies the pricing of credit default swap (CDS) with the loan as the reference asset, and gives a model based on the obtained conclusions. In the contract of CDS, we consider that the default of the protection’s seller is correlated with the stochastic interest rate following Vasicek model and the default state of the reference firm. We give the pricing formula of CDS and analyze the effect of the contagious risk between the counterparties on the pricing of CDS.
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    Agricultural Product Virtual Logistics Enterprise
    LIU Fan (刘璠)
    2016, 21 (1):  63-68.  doi: 10.1007/s12204-016-1700-9
    Abstract ( 421 )  
    With the development that the demand for agricultural products’ consumer market is gradually toward to the direction of complication, the existing agricultural logistics organizational model cannot adapt to the characteristics of agricultural product logistics and the changes in the consumer demand. According to the analysis of virtual operation trend of agricultural product logistics enterprise, this paper expatiates the concept and characteristics of agricultural product virtual logistics enterprise (APVLE) and proposes four steps to build an APVLE, including the analysis of key elements about APVLE, the identification about agricultural product logistics business, the project decomposition of APVLE and the partner selection in APVLE.
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    Informed Trading, Heterogeneity Investment, Liquidity Shocks and the Valuation of Credit Default Swaps
    YANG Xing1 (杨星), FAN Chun1* (范纯), LI Gang2* (李刚)
    2016, 21 (1):  69-80.  doi: 10.1007/s12204-016-1701-8
    Abstract ( 439 )  
    This paper explores the effect of informed trading, heterogeneity investment and liquidity shocks on the valuation of credit default swaps (CDSs). Under the condition of asymmetric information, the informed trading plays an important role in the valuation of CDS. Instruction order flow has a significant influence on CDS price. And the scope of influence changes in accordance with different time interval, company status and the size of bid-ask spread. Heterogeneity of investors seriously affects the market liquidity and subsequently affects the CDS price. The bigger heterogeneity of the investment philosophy, investment habits, investment preference and so on is the bigger risk for market liquidity, and the higher price for CDS shall be. On the contrary, the conclusion is also consistent. The effectiveness of liquidity, whether it is before or after the financial crisis, dominates the fluctuation of CDS price. The premium of liquidity accounts for 36% to 50% of the CDS price.
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    The Impact of Initial Public Offering Lockup Expirations on Liquidity: Evidence from Chinese Stock Market
    CHU Xiaojun (储小俊)
    2016, 21 (1):  81-89.  doi: 10.1007/s12204-016-1702-7
    Abstract ( 464 )  
    Previous empirical evidence on the liquidity effect to the lockup expiration is mixed. A sample from Chinese listed firms is adopted and contributes to better understand this effect in emerging markets. The spread and illiquidity significantly increases around lockup expiration in China. Furthermore, the liquidity reaction to firms’ disclosure quality is explicitly related. The results confirm that higher disclosure quality is significantly associated with lower abnormal spread and illiquidity impact. The effect of lockup expiration shares on liquidity proxies differs in firm disclosure quality. Identifying the factors affecting liquidity around such events may help regulators develop policies to provide investors with greater confidence in their investments.
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    Five-Axis Interpolation of Continuous Short Linear Trajectories for 3[PP]S-XY Hybrid Mechanism by Dual Bezier Blending
    SHI Jing (石璟), BI Qingzhen (毕庆贞), WANG Yuhan* (王宇晗)
    2016, 21 (1):  90-102.  doi: 10.1007/s12204-015-1688-6
    Abstract ( 488 )  
    A novel five-axis real-time interpolation algorithm for 3[PP]S-XY hybrid mechanism is proposed in this paper. In the algorithm, the five-axis tool path for controlling this hybrid mechanism is separated into two sub-paths. One sub-path describes the movement of 3[PP]S parallel kinematic mechanism module, and the other one describes the movement of XY platform. A pair of cubic Bezier curves is employed to smooth the corners in those two sub-paths. Based on the homogenous Jacobian matrix of 3[PP]S mechanism, a relationship between the position errors of every driving joint in hybrid mechanism and the position deviation of the tool tip center point at the moving platform is established. This relationship is used to estimate the approximation error for the corners smoothing according to the accuracy requirement of tool tip center in interpolation. Due to the high computational efficiency of this corner smoothing method, it is integrated into the look-ahead module of computer numerical control (CNC) system to perform online tool path smoothing. By performing the speed planning based on a floating window scheme, a jerk limited S-shape speed profile can be generated efficiently. On this basis, a realtime look-ahead scheme, which is comprised of path-smoothing and feedrate scheduling, is developed to acquire a speed profile with smooth acceleration. A monotonic cubic spline is employed for synchronization between those two smoothed sub-paths in tool path interpolation. This interpolation algorithm has been integrated into our own developed CNC system to control a 3PRS-XY experimental instrument (P, R and S standing for prismatic, revolute and spherical, respectively). A club shaped trajectory is adopted to verify the smoothness and efficiency of the five-axis interpolator for hybrid mechanism control.
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    Dynamic Response Analysis of a Multi-Column Tension-Leg-Type Floating Wind Turbine Under Combined Wind and Wave Loading
    ZHAO Yongsheng (赵永生), YANG Jianmin (杨建民), HE Yanping* (何炎平), GU Mintong (顾敏童)
    2016, 21 (1):  103-111.  doi: 10.1007/s12204-015-1689-5
    Abstract ( 602 )  
    Floating wind turbines (FWTs) are subjected to combined aerodynamic and hydrodynamic loads varying both in time and amplitude. In this study, a multi-column tension-leg-type FWT (i.e., WindStar TLP system) is investigated for its global performance under normal operating conditions and when parked. The selected variables are analysed using a fully coupled aero-hydro-servo-elastic time domain simulation tool FAST. Three different loading scenarios (wind only, wave only and both combined) are examined to identify the dominant load influencing each response. The key response variables are obtained and compared with those for an NREL 5MW baseline wind turbine installed on land. The results should aid the detailed design of the WindStar TLP system.
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    Heuristics for the Identical Machine Scheduling Problem with Preventive Maintenances
    JIANG Cailin1 (江才林), LU Zhiqiang1* (陆志强), CUI Weiwei2 (崔维伟)
    2016, 21 (1):  112-120.  doi: 10.1007/s12204-015-1690-z
    Abstract ( 378 )  
    In this paper, two mixed integer programming models integrating production scheduling and preventive maintenances are proposed to derive the optimal solutions for the identical machine scheduling problem with unavailability constraints. In the first model, the maintenance activities are performed periodically and the objective is to minimize the makespan. In the second model, the maintenance activities are flexible and the machines’ continuous working time cannot exceed a maximum allowed time T; the objective is to minimize the total completion time of jobs. For the first problem, we propose a heuristic longest batch time (LBT) and prove that the worst case error bound of LBT is 2. For the second problem, we develop a heuristic modified smallest processing time (MSPT) based on some properties of the optimal solutions. Computational experiments show that both of the heuristics are effective and efficient compared with the results obtained by CPLEX and the other algorithms.
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    Pulsed Eddy Current Signal Denoising Based on Singular Value Decomposition
    ZHU Hongyun (朱红运), WANG Changlong* (王长龙), CHEN Hailong (陈海龙), WANG Jianbin (王建斌)
    2016, 21 (1):  121-128.  doi: 10.1007/s12204-015-1691-y
    Abstract ( 547 )  
    The noise as an undesired phenomenon often appears in the pulsed eddy current testing (PECT) signal, and it is difficult to recognize the character of the testing signal. One of the most common noises presented in the PECT signal is the Gaussian noise, since it is caused by the testing environment. A new denoising approach based on singular value decomposition (SVD) is proposed in this paper to reduce the Gaussian noise of PECT signal. The approach first discusses the relationship between signal to noise ratio (SNR) and negentropy of PECT signal. Then the Hankel matrix of PECT signal is constructed for noise reduction, and the matrix is divided into noise subspace and signal subspace by a singular valve threshold. Based on the theory of negentropy, the optimal matrix dimension and threshold are chosen to improve the performance of denoising. The denoised signal Hankel matrix is reconstructed by the singular values of signal subspace, and the denoised signal is finally extracted from this matrix. Experiment is performed to verify the feasibility of the proposed approach, and the results indicate that the proposed approach can reduce the Gaussian noise of PECT signal more effectively compared with other existing approaches.
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