Ground movements caused by the construction of tunnels and excavation are inevitable.Estimation of such movements is a very important for risk management in tunnel design.This paper presents a case study of ground set...Ground movements caused by the construction of tunnels and excavation are inevitable.Estimation of such movements is a very important for risk management in tunnel design.This paper presents a case study of ground settlements induced by twin shield tunnelling in Copenhagen using analytical and numerical methods and their predictions.The predictions are compared with the monitored settlements.The comparison shows that the predictions are sufficiently conservative.展开更多
This paper employs relatively more detailed and accurate data currently available from the Global Corporate Greenfield Investments Database 2005-2016 for an all-round analysis of the investment effects of the Belt and...This paper employs relatively more detailed and accurate data currently available from the Global Corporate Greenfield Investments Database 2005-2016 for an all-round analysis of the investment effects of the Belt and Road Initiative(BRI)based on the difference-in-differences(DID)model as an effective identification method for event evaluation.Our findings suggest that the BRI has sharply increased growth in outbound greenfield investments by Chinese companies and led to an increase in the number of investment projects in BRI countries by around 32%.A series of validity and robustness tests has demonstrated the existence of such positive effects.The BRI has facilitated greenfield investments by Chinese companies through“five links,”i.e.infrastructure interconnection,policy communication,financial intermediation,trade,and people-to-people exchanges.Our heterogeneity analysis found that geographically,the BRI has played a more significant role in facilitating investment growth in the Maritime Silk Road countries and China’s neighboring countries involved in the BRI,and no significantly positive effect exists for investment in economies with high political risks.From a dynamic perspective,the BRI stimulates investment by expanding the intensive margins,i.e.spurring investment growth in existing investment projects or economies home to those projects.Judging by the results of the difference-in-differences-in-differences(DDD)model,the BRI’s positive effects on outbound investment are focused on infrastructure sectors such as energy,transportation and communication.In terms of the sources of investment,the BRI did not create any significant investment promotion effect for key Chinese provinces involved in the BRI.展开更多
In this paper,two investment modes,greenfield investment and cross-border mergers and acquisitions,are introduced on the basis of Manova(2008),and it is found that enterprises with less financing constraints tend to c...In this paper,two investment modes,greenfield investment and cross-border mergers and acquisitions,are introduced on the basis of Manova(2008),and it is found that enterprises with less financing constraints tend to choose cross-border mergers and acquisitions.Therefore,this paper takes Chinese industrial enterprises that conducted cross-border mergers and acquisitions and greenfield investment in 2003−2010 as examples to test the above hypothesis.The result shows that enterprises with lower financing constraints are more likely to choose cross-border mergers and acquisitions,while those with stronger constraints choose greenfield investment.More specifi cally,a 1%reduction in financing constraints raises the probability of choosing cross-border mergers and acquisitions by 2.51%.The authors also find that the influence of financing constraints varies under different investment motivation.For business service and production-related investment,enterprises with lower financing constraints tend to choose cross-border mergers and acquisitions;while for R&D investment,financing constraints have no impact on the choice of investment mode.展开更多
好不容易有了一个假期,C3 Metrics传媒分析公司联合创始人兼COO Jeff Greenfield却彻夜未眠。Greenfield平时的工作不是一个劲地讲电话,就是守在电脑前。这是他远离手机和电脑的第一个假日,难得来到缅因州小镇卡姆登避世,谁知第一天他...好不容易有了一个假期,C3 Metrics传媒分析公司联合创始人兼COO Jeff Greenfield却彻夜未眠。Greenfield平时的工作不是一个劲地讲电话,就是守在电脑前。这是他远离手机和电脑的第一个假日,难得来到缅因州小镇卡姆登避世,谁知第一天他的主要活动是睡觉,下午5点就开始昏睡,深夜倒精神起来。见此情景,妻子忍不住提醒Greenfield,创业也别太拼,应该有所取舍了。在彻底杜绝了数字技术干扰的假期,Greenfield认识到妻子所言不虚。别看他的公司设在新罕布什尔州朴次茅斯,展开更多
基金funded by the National Natural Science Foundation of China(Grant Nos.51938008,52090084)China Postdoctoral Science Foundation(Grant No.2021T140475).
文摘Ground movements caused by the construction of tunnels and excavation are inevitable.Estimation of such movements is a very important for risk management in tunnel design.This paper presents a case study of ground settlements induced by twin shield tunnelling in Copenhagen using analytical and numerical methods and their predictions.The predictions are compared with the monitored settlements.The comparison shows that the predictions are sufficiently conservative.
文摘This paper employs relatively more detailed and accurate data currently available from the Global Corporate Greenfield Investments Database 2005-2016 for an all-round analysis of the investment effects of the Belt and Road Initiative(BRI)based on the difference-in-differences(DID)model as an effective identification method for event evaluation.Our findings suggest that the BRI has sharply increased growth in outbound greenfield investments by Chinese companies and led to an increase in the number of investment projects in BRI countries by around 32%.A series of validity and robustness tests has demonstrated the existence of such positive effects.The BRI has facilitated greenfield investments by Chinese companies through“five links,”i.e.infrastructure interconnection,policy communication,financial intermediation,trade,and people-to-people exchanges.Our heterogeneity analysis found that geographically,the BRI has played a more significant role in facilitating investment growth in the Maritime Silk Road countries and China’s neighboring countries involved in the BRI,and no significantly positive effect exists for investment in economies with high political risks.From a dynamic perspective,the BRI stimulates investment by expanding the intensive margins,i.e.spurring investment growth in existing investment projects or economies home to those projects.Judging by the results of the difference-in-differences-in-differences(DDD)model,the BRI’s positive effects on outbound investment are focused on infrastructure sectors such as energy,transportation and communication.In terms of the sources of investment,the BRI did not create any significant investment promotion effect for key Chinese provinces involved in the BRI.
基金The General Program of National Natural Science Foundation“Outward Foreign Direct Investment Mode Choice of Chinese Enterprises and Internationalization Features Studies”(71973112).
文摘In this paper,two investment modes,greenfield investment and cross-border mergers and acquisitions,are introduced on the basis of Manova(2008),and it is found that enterprises with less financing constraints tend to choose cross-border mergers and acquisitions.Therefore,this paper takes Chinese industrial enterprises that conducted cross-border mergers and acquisitions and greenfield investment in 2003−2010 as examples to test the above hypothesis.The result shows that enterprises with lower financing constraints are more likely to choose cross-border mergers and acquisitions,while those with stronger constraints choose greenfield investment.More specifi cally,a 1%reduction in financing constraints raises the probability of choosing cross-border mergers and acquisitions by 2.51%.The authors also find that the influence of financing constraints varies under different investment motivation.For business service and production-related investment,enterprises with lower financing constraints tend to choose cross-border mergers and acquisitions;while for R&D investment,financing constraints have no impact on the choice of investment mode.
文摘好不容易有了一个假期,C3 Metrics传媒分析公司联合创始人兼COO Jeff Greenfield却彻夜未眠。Greenfield平时的工作不是一个劲地讲电话,就是守在电脑前。这是他远离手机和电脑的第一个假日,难得来到缅因州小镇卡姆登避世,谁知第一天他的主要活动是睡觉,下午5点就开始昏睡,深夜倒精神起来。见此情景,妻子忍不住提醒Greenfield,创业也别太拼,应该有所取舍了。在彻底杜绝了数字技术干扰的假期,Greenfield认识到妻子所言不虚。别看他的公司设在新罕布什尔州朴次茅斯,
