711 research outputs found
The structure of ownership and corporate governance: The case of Chinese listed companies
This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University.Modern companies have made a great contribution to the development of the economy. However, the company is not a perfect organization - modern companies, particularly listed companies, suffer from agency problems, in the form of conflicts of interest between management and shareholders, majority shareholders and minority shareholders, and shareholders and other stakeholders. ' These agency problems form the core subject matter of the corporate governance debates that have attracted the attention of governments, international organizations, and scholars in the fields of economics, law, politics, management and other areas. The type of agency problem that arises is determined by the structure of share ownership. Where the structure of share ownership is concentrated, the agency problem takes the form of a conflict of interest between majority shareholders and minority shareholders, whereas where the structure of share ownership is dispersed the agency problem takes the form of a conflict between management and shareholders. The appropriate model of corporate governance follows from this. The structure of share ownership is concentrated in some countries or regions of the world and dispersed in others, depending on the economic, political, legal, historical and cultural circumstances. There is no single perfect model of corporate governance, but different models appropriate to different countries or regions, in the light of the structure of share ownership. The case of Chinese listed companies will be examined to illustrate the argument, and in particular to contrast it with the "law matters" and the "politics matters" theories. The major problem of corporate governance in Chinese listed companies is the agency problem characteristic of concentrated ownership, of a conflict between the majority shareholder and minority shareholders. The problem in China is compounded by the fact that the majority shareholder is in most cases the state. Although the structure of ownership is affected by many factors, such as the economy, politics, law, culture and history, today the main determinant of the development of the economy will be the change of the structure of share ownership from concentrated share ownership by the state to relatively dispersed ownership
Information-Theoretic Secure Outsourced Computation in Distributed Systems
Secure multi-party computation (secure MPC) has been established as the de facto paradigm for protecting privacy in distributed computation. One of the earliest secure MPC primitives is the Shamir\u27s secret sharing (SSS) scheme. SSS has many advantages over other popular secure MPC primitives like garbled circuits (GC) -- it provides information-theoretic security guarantee, requires no complex long-integer operations, and often leads to more efficient protocols. Nonetheless, SSS receives less attention in the signal processing community because SSS requires a larger number of honest participants, making it prone to collusion attacks. In this dissertation, I propose an agent-based computing framework using SSS to protect privacy in distributed signal processing. There are three main contributions to this dissertation. First, the proposed computing framework is shown to be significantly more efficient than GC. Second, a novel game-theoretical framework is proposed to analyze different types of collusion attacks. Third, using the proposed game-theoretical framework, specific mechanism designs are developed to deter collusion attacks in a fully distributed manner. Specifically, for a collusion attack with known detectors, I analyze it as games between secret owners and show that the attack can be effectively deterred by an explicit retaliation mechanism. For a general attack without detectors, I expand the scope of the game to include the computing agents and provide deterrence through deceptive collusion requests. The correctness and privacy of the protocols are proved under a covert adversarial model. Our experimental results demonstrate the efficiency of SSS-based protocols and the validity of our mechanism design
Multiple and least energy sign-changing solutions for Schrodinger-Poisson equations in R3 with restraint
In this paper, we study the existence of multiple sign-changing solutions with a prescribed Lp+1−norm and theexistence of least energy sign-changing restrained solutions for the following nonlinear Schr¨odinger-Poisson system:By choosing a proper functional restricted on some appropriate subset to using a method of invariant sets of descending flow,we prove that this system has infinitely many sign-changing solutions with the prescribed Lp+1−norm and has a least energy forsuch sign-changing restrained solution for p ∈ (3, 5). Few existence results of multiple sign-changing restrained solutions areavailable in the literature. Our work generalize some results in literature
A Survey on Soft Subspace Clustering
Subspace clustering (SC) is a promising clustering technology to identify
clusters based on their associations with subspaces in high dimensional spaces.
SC can be classified into hard subspace clustering (HSC) and soft subspace
clustering (SSC). While HSC algorithms have been extensively studied and well
accepted by the scientific community, SSC algorithms are relatively new but
gaining more attention in recent years due to better adaptability. In the
paper, a comprehensive survey on existing SSC algorithms and the recent
development are presented. The SSC algorithms are classified systematically
into three main categories, namely, conventional SSC (CSSC), independent SSC
(ISSC) and extended SSC (XSSC). The characteristics of these algorithms are
highlighted and the potential future development of SSC is also discussed.Comment: This paper has been published in Information Sciences Journal in 201
Repeated-reading-based instructional strategy and vocabulary acquisition: A case study of a heritage speaker of Chinese
Repeated reading, a procedure involving repetition of the same text, has received copious attention from first language reading research providing highly converging evidence of its potency for reading fluency, accuracy, and comprehension. In contrast, second language research on repeated reading has been scarce. The very few studies extant have, nevertheless, shown similar, albeit inconclusive, findings. The present study was an attempt to foray into a hitherto uncharted area in both first and second language research, by investigating vocabulary gains from implementing a set of repeated-reading-based pedagogical and learning procedures. Using one heritage speaker of Chinese as its subject, the study administered 20 sessions of assisted repeated reading over three weeks. Results indicated both intentional and incidental vocabulary gains that would not otherwise have been possible through conventional reading or vocabulary instruction
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