Regulation Effect of Smart Grid on Green Transformation of Electric Power Enterprises: Based on the Investigation of “Leader” Trap

The 2060 carbon neutral target reflects the long-term equilibrium and stability of production activities and the natural environment. As an important part of Chinese energy structure, the operation and transformation of power enterprises will face higher requirements. Although the rapid development of smart grids provides necessary technical support for power enterprises to build a modern energy system with green power as the core, whether power enterprises can use smart grids to improve their operating performance and environmental performance has yet to be discussed. The differences caused by the heterogeneity of property rights will also have an impact on the green transformation and development of enterprises. This paper selects 25 Chinese power enterprises as the research objects and uses the 2011–2019 enterprise panel data and the data envelopment analysis model to evaluate the operating performance and environmental performance of power enterprises. The results show that the overall fluctuation trend of the total factor productivity index and green total factor productivity index of power enterprises are W-shaped, and technological progress is the main driving force for the improvement of power operating performance and environmental performance; Compared with enterprises with a single power generation method, enterprises with diversified power generation methods performed better in their overall total factor productivity index. After that, text mining and machine learning methods are used to classify the text of the enterprise’s annual report to determine whether the enterprise applies smart grid technology for production and operation activities. Finally, using feasible generalized least squares method (FLGS) and dynamic panel system generalized moment estimation (SYS-GMM) to analyze the impact of smart grid on the operating performance and environmental performance of power enterprises, and the nature of corporate property rights in this process. It is found that smart grids can improve the operating performance and environmental performance of power enterprises; compared with state-owned enterprises, non-state-owned enterprises can achieve better performance in the application of smart grids to improve operating performance and environmental performance. Finally, this study provides corresponding policy recommendations for power enterprises to achieve performance improvement and green transformation development.

Simulating NACA Equations Used in Optimizing Wind Turbine Blade Design: محاكاة معادلات NACA واستخدامها لتحسين تصميم شفرة العنفة الريحية

Aerodynamic scientists are interested in geometry definition and possible geometric shapes that would be useful in design. This paper illustrates a simulation of a NACA four digits airfoil blade profile using MATLAB. As airfoil design became more sophisticated, this basic approach has been modified to include additional variables, and suggestions for the chord line length at the root and at the end of the blade. as well as changes in the twisting angle of the blade and its thickness, this helps to reduce the weight of the blade significantly Simulating NACA equations is very useful in obtaining coordinates of airfoil curvature for the whole series of NACA four digits, which is very effective in optimizing blade design. In order to get an optimal operating performance and high efficiency for the airfoil, the blade surface must be smooth and does not suffer any discontinuities or undefined cases, which cause separation of the boundary layer during the airflow, and get as a result great energy losses. Therefore, the conditions for the continuity of the blade was extracted using mathematical analysis, so the air flow does not suffer any interruptions which reduce the efficiency. This enable us to determine the locations of the maximum thickness of the blade sections on the chord along the blade, in addition to specifying conditions for the chord line length at the root and at the end of the blade which keep the blade curvature continuous and doesn’t have any irregular points, which also facilities writing the necessary programs.

An Industry 4.0: Strategy Direction Of An Airline Operations Performance

Air transport is an industry 4.0 sector of priority that continues to evolve as the era becomes the backbone of a country's economy. The opening of the economic market in all regions of the world has increased the complexity of air transportation, including in Indonesia. In this decade as the development of technology and the 4.0 industry, the air plane remains the choice of people to explore the world and also the movement of people from one place to another is rapidly secured funds. The strategy to compete with the airline is to improve flight image in Indonesia by improving the performance of aviation operations. This research aims to analyse and evaluate the performance of aviation operations in Indonesia from the company's perspective. The survey method was conducted through the dissemination of questionnaires to respondents with purposive sampling techniques netted 200 aviation employees in Indonesia. The data collected is processed using the Structural Equation Model - Partial Least Square. The results showed; Strategy direction proved to affect process management, process management proved no effect on operation performance, strategy direction has no effect on Operation performance, strategy direction proved to affect human resources management, human resource management proved to be no impact on Operation performance, Process management proved unable to fully mediation the relationship between strategy direction with operating performance, HR management proved not to fully mediation the relationship between strategy direction to operating performance. So it can be said the strategy direction of the company directly affects the flight operation performance. Keywords— Strategy direction; process management; human resource management; operation performance

Are initial public offerings significant to firm performance in an emerging stock market? Evidence from China

urpose:This study investigates firm performance after going public and explores whether Initial Public Offerings (IPOs) contribute to it.Design/methodology/approach: This study employs comprehensive regression models to examine IPO significance to both operating performance and market performance.Findings/results: It suggests that IPO firms retain their growth over the first 3 years after going public, but the growth does not sustain after the third year in terms of profit-related indicators, which is distinguishing from prior research. IPOs may contribute to firms’ market performance only, they are insignificant to firms’ operating performance in general, whilst industry-adjusted evidence suggests that IPOs are negatively associated with operating performance in terms of return on assets, return on sales and debt to assets.Practical implications: The practical implication for managers is to spend more IPO capitals on business operations to maximise firm value.Originality/value: Market value is taken into account, whilst operating performance is considered only by prior research, and it presents some different findings from prior studies based on developed stock markets.

Long-term underperformance of public versus rights offering firms

The authors compare the post-issue stock and operating performance of rights issue versus public offer firms using Korean data. The authors find that the stock returns of rights issue firms are less negative than those of public offering firms during the three years subsequent to the seasoned equity offering. The authors further find that the profitability of rights offering firms is superior to those of public offering firms and that the ratio of sales to assets for rights issue firms is much higher over the post-issue period. The results substantiate Heinkel and Schwartz’s (1986) and Eckbo and Masulis’ (1992) theoretical models that posit firms with better quality tend to select the rights issue rather than public offer method when issuing seasoned equity.

The Effects of Digital Transformation on Firm Performance: Evidence from China’s Manufacturing Sector

With vast potentials in improving operations and stimulating growth, digital transformation has aroused much attention from firms across the world. However, the high costs associated with the transformation can not be ignored. Limited research has looked into the organizational performance effects of digital transformation. After examining the benefits and costs of digital transformation, this research makes an empirical study on the impact of digital transformation on firm operational and financial performance. The panel data from 2010 to 2020 of 2254 manufacturing companies in China suggests that the intensity of digital transformation is in positive correlation with the process-based operating performance, and in the U-shaped correlation with the profit-oriented financial performance. Further, we find that digital transformation has a much more lasting impact on operating performance than on financial performance. The conditions required (i.e., policy and innovation environment) to improve the operating performance via digital transformation are more easing. This research shows the differentiated effect of digital transformation on different dimensions of organizational performance and provides guidance for companies to set the goals for digital transformation.