How Do Sustainability Stakeholders Seize Climate Risk Premia in the Private Cleantech Sector

This paper explores the strategies and practices of capturing climate risk premia for venture capital (VC) fund managers and entrepreneurs in the private cleantech sector. It also examines the impact of the feed-in tariffs (FITs) policy on the management of cleantech investments. It is shown that a longer investment period, less investment capital in cleantech investment management strategies, and optimistic climate risk management practices will help investors to better capture climate risk premia. In fact, the FITs policy will give rise to VC fund managers and entrepreneurs having a positive view regarding the prospects of the cleantech sector, motivating them to make long-term investments. Furthermore, it is shown that the greater the impact of the FITs policy, the greater the climate risk premia to be captured. In addition, the captured climate risk premia are greater in weaker economic conditions and in times of increased uncertainty with regard to product demand

The Effect of Sustainability Information Disclosure on the Cost of Equity Capital: An Empirical Analysis Based on Gartner Top 50 Supply Chain Rankings

While disclosing financial information has been widely proved to reduce the financing cost of a company, the impact of non-financial information, such as sustainability information, disclosing on the financing cost of the company is still in debate. The goal of this paper is to explore the impact of disclosing sustainability-related information on the cost of equity for firms. The paper first introduces the concept of sustainability information disclosure, and then exhibits its benefit through exploring its impact on reducing a firm’s financing cost. It uses the Gartner supply chain top 50 rankings to construct the experiment environment to test for the effect of sustainability information disclosure on the cost of equity capital. The study uses the Gartner top 50 supply chain rankings from 2013 to 2017 to construct the experiment environment, and test for the sustainability information disclosure’s impact on reducing the cost of equity capital. The regressions, which are based on the 350 firm-year sample of the United States and the 604 global firm-year sample, indicate that sustainability information disclosure significantly reduced the cost of equity capital. This paper uses a fixed effect regression method to analyze the impact of sustainability information disclosure. According to the regression result, the sustainability information disclosure variable has a significant negative coefficient. The result is robust under many settings. Thus, the paper finds that sustainability information disclosure significantly diminishes the cost of equity capital, controlling for ESG information disclosure. It also discusses the implications of the findings and future research directions for sustainability information disclosure

QoS Recommendation in Cloud Services

As cloud computing becomes increasingly popular, cloud providers compete to offer the same or similar services over the Internet. Quality of service (QoS), which describes how well a service is performed, is an important differentiator among functionally equivalent services. It can help a firm to satisfy and win its customers. As a result, how to assist cloud providers to promote their services and cloud consumers to identify services that meet their QoS requirements becomes an important problem. In this paper, we argue for QoS-based cloud service recommendation, and propose a collaborative filtering approach using the Spearman coefficient to recommend cloud services. The approach is used to predict both QoS ratings and rankings for cloud services. To evaluate the effectiveness of the approach, we conduct extensive simulations. Results show that the approach can achieve more reliable rankings, yet less accurate ratings, than a collaborative filtering approach using the Pearson coefficient

Impact of Payment Technology Innovations on the Traditional Financial Industry: A Focus on China

With the rapid advent of e-commerce in China, the technological innovation of third-party payment has experienced explosive growth. This important technological innovation, initiated by emerging Internet companies, is helping the traditional financial industry\u27s payment business-represented by commercial banks-expand in both depth and breadth. Meanwhile, there is also a large degree of substitution, competition and crowding out among these banks in terms of the traditional financial industry\u27s basic payment and settlement functions, potential customers, deposit and loan services and traditional intermediary business. This paper explores the impact (episodic and long-term steady-state) of the technological innovation of payment on commercial banks. It also considers the impact of technological innovation on industrial evolution to clarify whether technological innovation offsets the advantages of traditional industries or promotes industrial development. This study adopts the Vector Auto-Regression (VAR) impulse response model to analyze the impact of Internet Third-Party Payment (TPP) on the traditional financial industry from 2007 to 2014. The empirical results suggest that in China, third-party payments have had a significant positive correlation with the value creation capabilities of traditional financial industries, and that this relationship tends to remain in a steady state in the long term. Based on these findings, this paper confirms that the technological innovation of methods of payment in emerging economies, such as China, has promoted the development of the financial industry and accelerated the process of industrial evolution. We conclude the paper with feasible policy suggestions

CloudHealth: A Model-Driven Approach to Watch the Health of Cloud Services

Cloud systems are complex and large systems where services provided by different operators must coexist and eventually cooperate. In such a complex environment, controlling the health of both the whole environment and the individual services is extremely important to timely and effectively react to misbehaviours, unexpected events, and failures. Although there are solutions to monitor cloud systems at different granularity levels, how to relate the many KPIs that can be collected about the health of the system and how health information can be properly reported to operators are open questions. This paper reports the early results we achieved in the challenge of monitoring the health of cloud systems. In particular we present CloudHealth, a model-based health monitoring approach that can be used by operators to watch specific quality attributes. The CloudHealth Monitoring Model describes how to operationalize high level monitoring goals by dividing them into subgoals, deriving metrics for the subgoals, and using probes to collect the metrics. We use the CloudHealth Monitoring Model to control the probes that must be deployed on the target system, the KPIs that are dynamically collected, and the visualization of the data in dashboards.Comment: 8 pages, 2 figures, 1 tabl

Global Value Chain Embeddedness, Digital Economy and Green Innovation- Evidence From Provincial-Level Regions of China

With globalization and digitalization, participating in Global Value Chain (GVC) and developing digital economy have had a profound impact, which transforms China’s economy into a green and innovative one. This paper studies the intrinsic influential mechanism of GVC embeddedness and digital economy on green innovation and proposes some research hypotheses. Based on panel data of 30 Chinese provinces from 2002 to 2016, we constructed some core indicators such as GVC embeddedness, digital economy and green innovation. The ordinary panel model and spatial panel model are used to empirically test the impact of GVC embeddedness and digital economy on China’s green innovation at the provincial level. The research findings are: First, GVC embeddedness and digital economy have significant promotion effects on green innovation. Second, the development of digital economy will not only directly promote green innovation, but also indirectly promote green innovation by effectively promoting the integration of provincial economy into GVC. The results of mediating effect test show that GVC embeddedness has a partial mediating effect in the influential mechanism of digital economy to promote green innovation. Third, GVC embeddedness and green innovation have significant spatial spillover effects. It indicates that Chinese provinces (cities¹) have significantly promoted green innovation in neighboring provinces through many possible channels and mechanisms in the process of participating in GVC, and the robustness test shows the stability of the spatial spillover mechanism. The findings provide useful policy implications for China’s deeply participating in GVC, vigorously developing digital economy and promoting green innovation

Are Entrepreneurial Capabilities and Prior Knowledge the Silver Bullet for the Generation of New Digital Venture Ideas in a Digital Context?

Digital technology has had an important impact on entrepreneurship. It has changed the uncertain nature of the process of new venture idea generation, and it has also brought unprecedented opportunities for the generation of new digital venture ideas. In order to explore how startups can deal with major challenges brought by digital technology and create new digital venture ideas, this paper focuses on micro level entrepreneurial actions and constructs a theoretical model of the relationship among networking capabilities, IT capabilities, prior knowledge, and new digital venture ideas. Furthermore, through the hierarchical linear regression analysis of 278 sample data, the paper finds that in the context of digitalization, both networking capabilities and IT capabilities have a positive impact on the generation of new digital venture ideas. In addition, prior knowledge plays an important role in moderating the relationship between IT capabilities and new digital venture ideas. This paper conducts both theoretical and empirical analysis to explore how startups can build new digital venture ideas in the context of digitalization, which guides small and medium-sized enterprises in responding to new challenges

Identity Authentication Security Management in Mobile Payment Systems

Mobile payment is a new payment method offering users mobility, reachability, compatibility, and convenience. But mobile payment involves great uncertainty and risk given its electronic and wireless nature. Therefore, biometric authentication has been adopted widely in mobile payment in recent years. However, although technology requirements for secure mobile payment have been met, standards and consistent requirements of user authentication in mobile payment are not available. The flow management of user authentication in mobile payment is still at its early stage. Accordingly, this paper proposes an anonymous authentication and management flow for mobile payment to support secure transaction to prevent the disclosure of users\u27 information and to reduce identity theft. The proposed management flow integrates transaction key generation, encryption and decryption, and matching to process users\u27 personal information and biometric characteristics based on mobile equipment authentication carrier

Strain-restricted transfer of ferromagnetic electrodes for constructing reproducibly superior-quality spintronic devices

Spintronic device is the fundamental platform for spin-related academic and practical studies. However, conventional techniques with energetic deposition or boorish transfer of ferromagnetic metal inevitably introduce uncontrollable damage and undesired contamination in various spin-transport-channel materials, leading to partially attenuated and widely distributed spintronic device performances. These issues will eventually confuse the conclusions of academic studies and limit the practical applications of spintronics. Here we propose a polymer-assistant strain-restricted transfer technique that allows perfectly transferring the pre-patterned ferromagnetic electrodes onto channel materials without any damage and change on the properties of magnetism, interface, and channel. This technique is found productive for pursuing superior-quality spintronic devices with high controllability and reproducibility. It can also apply to various-kind (organic, inorganic, organic-inorganic hybrid, or carbon-based) and diverse-morphology (smooth, rough, even discontinuous) channel materials. This technique can be very useful for reliable device construction and will facilitate the technological transition of spintronic study

Trading the Cloud: A Game-Theoretic Approach

As more and more enterprises adopt cloud computing, the cloud market offers vast potential profits. To capitalize the cloud, investors are interested in trading shares of cloud computing companies. Smart trading strategies, which use intelligent algorithms to trade financial instruments, will play a key role in investment. This paper proposes a game-theoretic approach for trading cloud stocks. Also, we conduct experiments to evaluate its effectiveness. Results show that the approach can achieve a good rate of return