Different types of capital are better suited to financing technologies with different risk profiles,and structural matching between finance and technology may critically influence economic growth.Using cross-province ...Different types of capital are better suited to financing technologies with different risk profiles,and structural matching between finance and technology may critically influence economic growth.Using cross-province panel data from China,we estimated the impact of the matching relationship between regions'financial structure and technology level on economic growth.We show that:(ⅰ)the matching relationship had a statistically significant positive impact on economic growth;(ⅱ)structural mismatching reduced economic growth in comparison with the optimal matching point;(ⅲ)structural matching better facilitated economic growth in more developed regions;and(ⅳ)capital accumulation and technological progress were two of the main channels through which matching influenced economic growth.We address potential endogeneity concerns and perform robustness checks,and our results remain valid.Our findings provide convincing evidence for the optimalfinancial structure theory and explain China's rapid growth despite its comparatively underdeveloped securities market.展开更多
Control parameter optimization is an efficient way to improve the endurance of underwater gliders(UGs),which influences their gliding efficiency and energy consumption.This paper analyzes the optimal matching between ...Control parameter optimization is an efficient way to improve the endurance of underwater gliders(UGs),which influences their gliding efficiency and energy consumption.This paper analyzes the optimal matching between the net buoyancy and the pitching angle and proposes a segmented control strategy of Petrel-L.The optimization of this strategy is established based on the gliding range model of UG,which is solved based on the approximate model,and the variations of the optimal control parameters with the hotel load are obtained.The optimization results indicate that the segmented control strategy can significantly increase the gliding range when the optimal matching between the net buoyancy and the pitching angle is reached,and the increase rate is influenced by the hotel load.The gliding range of the underwater glider can be increased by 10.47%at a hotel load of 0.5 W.The optimal matching analysis adopted in this study can be applied to other UGs to realize endurance improvement.展开更多
基金supported financially by the National Social ScienceFoundation of China(No.19AJY026).
文摘Different types of capital are better suited to financing technologies with different risk profiles,and structural matching between finance and technology may critically influence economic growth.Using cross-province panel data from China,we estimated the impact of the matching relationship between regions'financial structure and technology level on economic growth.We show that:(ⅰ)the matching relationship had a statistically significant positive impact on economic growth;(ⅱ)structural mismatching reduced economic growth in comparison with the optimal matching point;(ⅲ)structural matching better facilitated economic growth in more developed regions;and(ⅳ)capital accumulation and technological progress were two of the main channels through which matching influenced economic growth.We address potential endogeneity concerns and perform robustness checks,and our results remain valid.Our findings provide convincing evidence for the optimalfinancial structure theory and explain China's rapid growth despite its comparatively underdeveloped securities market.
基金jointly supported by the National Key R&D Program of Chinathe National Natural Science Foundation of China (Grant Nos. 11902219 and 51721003)the Natural Science Foundation of Tianjin City (Grant No. 18JCJQJC46400)。
文摘Control parameter optimization is an efficient way to improve the endurance of underwater gliders(UGs),which influences their gliding efficiency and energy consumption.This paper analyzes the optimal matching between the net buoyancy and the pitching angle and proposes a segmented control strategy of Petrel-L.The optimization of this strategy is established based on the gliding range model of UG,which is solved based on the approximate model,and the variations of the optimal control parameters with the hotel load are obtained.The optimization results indicate that the segmented control strategy can significantly increase the gliding range when the optimal matching between the net buoyancy and the pitching angle is reached,and the increase rate is influenced by the hotel load.The gliding range of the underwater glider can be increased by 10.47%at a hotel load of 0.5 W.The optimal matching analysis adopted in this study can be applied to other UGs to realize endurance improvement.
