Guoxing Zhang

Dynamic Characteristic Analysis of Indirect Carbon Emissions Caused by Chinese Urban and Rural Residential Consumption Based on Time Series Input-Output Tables from 2002 to 2011

Carbon emissions caused by residential consumption have become one of the main sources of carbon emission and revealed a huge growth trend in China. By processing data of Chinese input-output tables available and relative Statistical Yearbook, this paper uses RAS method to update the input-output tables to obtain the time series input-output tables from 2002 to 2011. Then, we use input-output method to make a contrastive analysis of changes in carbon emissions caused by Chinese rural and urban residents’ consumption. The results show that the indirect carbon emission caused by urban residents’ consumption is the main part of carbon emission caused by residents’ consumption, and the gap between carbon emission caused by urban and rural residents’ consumption is wider and wider. The annual per capita indirect carbon emissions in urban and rural areas increase by years, and the increment of the town is much greater than that of the country. At last, we analyze carbon emissions from residents’ consumption by sectors and obtain some meaningful results. In accordance with the above conclusions, the paper puts forward some countermeasures and suggestions from consumer behaviors, structure of consumption, energy usage, and so on.

Companies’ Behavior of Carbon Emission Reduction at the Risk of Oil Price Volatility☆

Abstract This paper has established an evolutionary game model, and has examined the promotional effect of the rising oil price on companies’ behaviour of carbon emission reduction. The research results show that, the promotional impact of the rising oil price on companies’ carbon reduction behaviour is uncertain. In the case of the rising oil price, the evolutionary result of companies’ carbon emission reduction behaviour will depend on the extent of the rising oil price, the initial status of companies, the saved cost and the revenues from emission permits. At the same time, the percentage of companies who reduce carbon emission at the initial evolutionary period will also influence the evolution direction of the whole group. This paper has showed the relationship between the rising oil price and companies’ carbon reduction behaviour, and it will provide theoretical reference for promulgating rational low carbon policies.

Using jump-diffusion modeling for valuing real options in infrastructure projects

In infrastructure financed projects, in order to attract private investors, host governments often provide some guarantees. This paper develops a value model of minimum revenue guarantee with multiple-exercise real options under the impact of the emergency incident. The model is applied to infrastructure financed projects using the minimum revenue guarantee under simulation. The simulation results indicate that, before quantifying the value of the minimum revenue guarantee, it is necessary to forecast the jump degree and intensity of the emergency incident, as well as prevent and control risks arising from such emergencies. Otherwise, underestimation of the guarantee value will occur and the government will have to bear huge debt in this condition. We also analyze the dependence of the guaranteed value on the minimum guaranteed revenue level, initial revenue and number of exercise rights. For various conditions, the diagrams of the guaranteed value are also presented.

The Risk Aversion of CERs Financing

The paper considers that there is the situation where a large number of companies all fall back on their engagement at a certain point time. We can use shock models to analyze. When the situation happens, the bank can stop the business through a suitable strategy.

Calculation of the Cycle and Working Hours for Complex Projects with Iterations

For the purpose of estimating the cycle and working hours of complex projects which often involve a number of iterations, an improved parallel iteration model based on the representation of design structure matrix is used in this paper. First this model is applied to calculate the duration and working hours of tasks in the coupled block through the method of linear algebra. Then by substituting the results, the cycle and total working hours of the entire project which will provide important bases for the schedule management and cost control can be obtained. Finally, a simple example is utilized to illustrate the process of calculation.

NON-COMPETITION GUARANTEED VALUE AND EFFECT ON THE TOLL ROAD PROJECT

A non-competition guarantee has been widely used for financing the toll road project. However, to our best knowledge, there seems to be no research about the value and incentive effect of the non-competition guarantee. In the competitive and non-competitive condition respectively, this paper constructs the models of investment value and investment threshold by adopting the option game theory and measurement approach. The results of theory derivation indicate that the non-competition guarantee plays a strong role in investment incentives by reducing investment threshold. The simulation results indicate that the non-guaranteed value increases as the expected growth rate of traffic flow increases, and decreases as volatility increases.

Optimization of Bonus-Penalty Structure in Flexible Resources-Constrained Project Scheduling Problems from Both Sides of the Contract

Project contractors often need to rent resources to execute their projects, and the clients often set up bonus-penalty structure (BP-structure) at the deadline of the project to encourage the contractors in fulfilling the project on time. In this paper, we introduce BP-structure and flexible resource-constraints (i.e. resource renting) into traditional RCPSP, and formulate an optimization model of BP-structure based on flexible resource-constraints from both sides of the contract. By solving the model the contractor gets optimal schedule and the client obtains optimal bonus-penalty rate (BP-rate) to a given due date. Both sides of the contract can obtain maximal incomes under the optimal schedule with the optimal BP-rate. Finally, the outcomes of the paper are illustrated by a numerical example.

Non-competition Guarantee Value Model Research Based on Real Option

In infrastructure financed projects, in order to attract private investors, host governments often provide some guarantees. This paper develops a value model of non-competition guarantee with real option theory. The model is applied to infrastructure financed projects using the non-competition guarantee under derivation. The derivation results indicate that, there is incentive effect to investors when the non-competition guarantee is used by governments. Non-competition value increases with a bigger growth rate of traffic flow. And its value decreases with a bigger volatility of traffic flow.

Chaos Problem Cumulative Effects Research on Rural Financial Innovation

Based on the analysis of the complexity of rural financial system and its chaotic characteristic of the evolution, with the help of the relevant theories about chaotic economics, this thesis analyzes the cumulative effects of rural financial innovation by modeling. Furthermore, it involves the cumulative effects of rural financial innovation, the efforts and the internal innovative impetus of rural financial institutions, the pulling effects of rural economic growth on rural financial innovation, the management capability of the financial supervisory authorities, and the chaotic economics of rural financial innovation as well. In addition, this thesis deepens the understanding of the rules of rural financial innovation, and provides scientific evidence on the management and controlling of rural financial innovation for the supervisory authorities.