Showing papers by "Hong Kong University of Science and Technology published in 2000"
TL;DR: In this article, a 2-centimeter slab of this composite material is shown to break the conventional mass-density law of sound transmission by one or more orders of magnitude at 400 hertz.
Abstract: We have fabricated sonic crystals, based on the idea of localized resonant structures, that exhibit spectral gaps with a lattice constant two orders of magnitude smaller than the relevant wavelength. Disordered composites made from such localized resonant structures behave as a material with effective negative elastic constants and a total wave reflector within certain tunable sonic frequency ranges. A 2-centimeter slab of this composite material is shown to break the conventional mass-density law of sound transmission by one or more orders of magnitude at 400 hertz.
3,758 citations
TL;DR: In this paper, a pseudo-second order rate equation describing the kinetics of sorption of divalent metal ions onto sphagnum moss peat at different initial metal ion concentrations and peat doses has been developed.
2,658 citations
TL;DR: In this paper, the static trade-off theory of corporate leverage is tested against the pecking order theory of Corporate leverage, using a broad cross-section of US firms over the period 1980-1998, and robust evidence of mean reversion in leverage is found.
Abstract: The pecking order theory of corporate leverage is tested against the static tradeoff theory of corporate leverage, using a broad cross-section of US firms over the period 1980-1998. A derivation of the conditional target adjustment framework is provided as a better empirical test of mean reversion. None of the predictions of the pecking order theory hold in the data. As predicted by the static tradeoff theory, robust evidence of mean reversion in leverage is found. This is true both unconditionally and conditionally on financial factors. Leverage is more persistent at lower levels than at higher levels. When debt matures, it is not replaced dollar for dollar by new debt and so leverage declines. Large firms increase their debt in order to support the payment of dividends. By contrast, small firms reduce their debt while they pay dividends.
2,222 citations
TL;DR: A review of the mechanisms of solute sorption onto various biosorbents has been performed in this article, where the mechanisms have been subdivided into reaction based systems and diffusion based systems, and the literature has been reviewed in accordance with these two groups.
Abstract: A review of the mechanisms of solute sorption onto various biosorbents has been performed. The mechanisms have been subdivided into reaction based systems and diffusion based systems and the literature has been reviewed in accordance with these two groups. The range of solute-sorbent systems reviewed include metal ions, dyestuffs and several organic substances in aqueous systems onto a wide range of biosorbents and mineral earths. Extensive tables are presented summarising isotherm types, sorption capacities, kinetic models which have been applied particularly to biosorbent systems but also to many other adsorbent materials.
1,209 citations
TL;DR: In this article, the effects of the determinants of foreign direct investment (FDI) in 29 Chinese regions from 1985 to 1995 were investigated. And they found that large regional market, good infrastructure, and preferential policy had a positive effect but wage cost had a negative effect on FDI.
1,162 citations
TL;DR: In this paper, the characteristics of restaurant wastewater were investigated and high oil and grease contents were detected, and the optimum charge loading and current density were 1.67-9.95 F/m3 wastewater and 30-80 A/m2 depending on the wastewater tested.
807 citations
TL;DR: In this article, the authors hypothesize that the threat of expropriation by controlling owners in East Asian corporations lowers the credibility of accounting earnings and hence the stock price informativeness of those earnings.
Abstract: This paper hypothesizes that the threat of expropriation by controlling owners in East Asian corporations lowers the credibility of accounting earnings and hence the stock price informativeness of those earnings. The complicated share ownership structure of East Asian corporations, characterized by a voting control that is highly concentrated in the hands of families, and a large separation of their voting rights from cash flow rights, provides controlling owners with both the ability and incentive to expropriate minority shareholders. We document that the informativeness of earnings, measured by the earnings-return relation, decreases with the level of an ultimate owner's voting control and the extent to which the owner's voting rights exceed her cash flow rights. We also find that family control per se does not lower the informativeness of earnings. Earnings become less informative when controlling families maintain high voting power and large separation of voting from cash flow rights. Our results are generally robust to controls for firm size, market-to-book assets, leverage, number of industry segments operated by the firm, and to varying the starting and ending dates of the stock return window.
767 citations
TL;DR: In this article, the authors examined the magnitude and changing nature of volatility spillovers from Japan and the US to six Pacific-Basin equity markets and constructed a volatility spillover model which allowed the unexpected return of any particular Pacific-basin market be driven by a local idiosyncratic shock, a regional shock from Japan, and a global shock from the US.
728 citations
TL;DR: In this paper, a pseudo-second order rate equation describing the kinetics of sorption of divalent metal ions on to sphagnum moss peat at various initial metal ion concentrations and peat doses has been developed.
Abstract: A pseudo-second order rate equation describing the kinetics of sorption of divalent metal ions on to sphagnum moss peat at various initial metal ion concentrations and peat doses has been developed. The sorption kinetics were followed based on the concentrations of metal sorbed at various time intervals. Results show that chemical sorption processes might be rate-limiting for the sorption of divalent metal ions on to peat during agitated batch contact time experiments. The rate constant, the equilibrium sorption capacity and the initial sorption rate were calculated. From these parameters, an empirical model for predicting the concentrations of metal ions sorbed was derived.
677 citations
TL;DR: In the current review, recent advances in the delineation basis for the multiple opioid receptor signaling, and their regulation at multiple levels are examined.
Abstract: Cloning of multiple opioid receptors has presented opportunities to investigate the mechanisms of multiple opioid receptor signaling and the regulation of these signals. The subsequent identification of receptor gene structures has also provided opportunities to study the regulation of receptor gene expression and to manipulate the concentration of the gene products in vivo. Thus, in the current review, we examine recent advances in the delineation basis for the multiple opioid receptor signaling, and their regulation at multiple levels. We discuss the use of receptor knockout animals to investigate the function and the pharmacology of these multiple opioid receptors. The reasons and basis for the multiple opioid receptor are addressed.
650 citations
TL;DR: In this article, an unconditionally stable three-dimensional (3-D) finite-difference time-method (FDTD) is presented where the time step used is no longer restricted by stability but by accuracy.
Abstract: In this paper, an unconditionally stable three-dimensional (3-D) finite-difference time-method (FDTD) is presented where the time step used is no longer restricted by stability but by accuracy. The principle of the alternating direction implicit (ADI) technique that has been used in formulating an unconditionally stable two-dimensional FDTD is applied. Unlike the conventional ADI algorithms, however, the alternation is performed in respect to mixed coordinates rather than to each respective coordinate direction, Consequently, only two alternations in solution marching are required in the 3-D formulations. Theoretical proof of the unconditional stability is shown and numerical results are presented to demonstrate the effectiveness and efficiency of the method. It is found that the number of iterations with the proposed FDTD can be at least four times less than that with the conventional FDTD at the same level of accuracy.
TL;DR: In this article, the effects of organizational capabilities and public and private expropriation hazards on the level of equity ownership chosen for foreign subsidiaries in emerging mark-marked companies are examined.
Abstract: This study jointly examines the effects of organizational capabilities and public and private expropriation hazards on the level of equity ownership chosen for foreign subsidiaries in emerging mark...
TL;DR: In this article, a controlled polymer multilayer coating of biocrystals, achieved by the sequential adsorption of oppositely charged polyelectrolytes onto enzyme crystal templates, is described.
Abstract: We report on the encapsulation of enzyme (catalase) by the controlled polymer multilayer coating of biocrystals, achieved by the sequential adsorption of oppositely charged polyelectrolytes onto enzyme crystal templates. An extremely high enzyme loading in each polymer capsule is obtained, and the activity of the encapsulated enzyme is preserved. The polymer-encapsulated enzyme is stable against protease degradation: The polymer-coated enzyme retains 100% of its activity after incubation for 100 min with protease, whereas uncoated, solubilized catalase loses more than 90% of its initial activity within 100 min under the same conditions. This simple, general, and versatile approach can potentially be applied for the encapsulation of various crystallized substances for catalysis and drug delivery applications.
TL;DR: In this article, the authors examined audit fees of Big 6 and non-Big 6 accounting firms for 348 publicly listed Hong Kong companies and found that Big 6 premiums for both general brand name and for industry specialization led to lower fees for a clientele seeking low-priced audits.
Abstract: Audit fees of Big 6 and non‐Big 6 accounting firms are examined for 348 publicly listed Hong Kong companies. Using more recent data than prior studies, we find evidence of Big 6 premiums for both general brand name and for industry specialization. In addition, we find that the large local firm Kwan Wong Tan & Fong, which is the market leader in the property sector, has significantly lower fees than both Big 6 and other non‐Big 6 auditors in that industry. Specialization thus leads to different results for Big 6 and non‐Big 6 firms and suggests a market segment not previously identified: non‐Big 6 specialization, which leads to production economies and the capture of market share through lower fees for a clientele seeking low‐priced audits. These results also suggest that prior studies do not recognize sufficiently that Big 6 brand‐name reputation is a necessary foundation on which to achieve higher priced quality‐differentiated audits based on industry specialization.
TL;DR: The authors examined the earnings patterns of initial public offering (IPO) firms in China to shed light on the role of earnings management in the financial packaging of Chinese state-owned enterprises (SOEs) for public listing.
Abstract: This paper examines the earnings patterns of initial public offering (IPO) firms in China to shed light on the role of earnings management in the "financial packaging" of Chinese state-owned enterprises (SOEs) for public listing.1 Our sample contains the entire population of 83 Chinese SOEs that issued to foreign investors B-Shares in Chinese domestic stock exchanges or H-Shares in the Hong Kong stock exchange during
TL;DR: In this article, the authors empirically link conflict management literature with research on efficacy and organizational teams and suggest how organizational teams can be prepared to make use of their autonomy to deal with problems and conflicts so that they are productive.
Abstract: The study empirically links conflict management literature with research on efficacy and organizational teams. Sixty-one self-managing teams with 489 employees were recruited from the production department of a leading electronic manufacturer. Structural equation analysis supports the model that a cooperative instead of competitive approach to conflict leads to conflict efficacy that in turn results in effective performance as measured by managers. Findings suggest how organizational teams can be prepared to make use of their autonomy to deal with problems and conflicts so that they are productive.
TL;DR: In this paper, the adhesion force between a Si3N4 AFM tip and silicon oxide was observed to first increase and then decrease with an increase of a factor of 2.
Abstract: Due to the strong capillary condensation, the adhesion force between a Si3N4 atomic force microscope (AFM) tip and silicon oxide was observed to first increase and then decrease with an increase of...
TL;DR: In this paper, the authors examined the profitability of momentum strategies implemented on international stock market indices and found that momentum profits arise mainly from time-series predictability in stock market index.
Abstract: This paper examines the profitability of momentum strategies implemented on international stock market indices. Our results indicate statiscally significant evidence of momentum profits. The momentum profits arise mainly from time-series predictability in stock market indices—very little profit comes from predictability in the currency markets. We also find higher profits for momentum portfolios implemented on markets with higher volume in the previous period, indicating that return continuation is stronger following an increase in trading volume. This result confirms the informational role of volume and its applicability in technical analysis.
TL;DR: This paper presents a modified alternating direction method that adjusts the penalty parameter per iteration based on the iterate message and preliminary numerical tests show that the self-adaptive adjustment technique is effective in practice.
Abstract: The alternating direction method is one of the attractive approaches for solving linearly constrained separate monotone variational inequalities. Experience on applications has shown that the number of iterations depends significantly on the penalty parameter for the system of linear constraint equations. While the penalty parameter is a constant in the original method, in this paper we present a modified alternating direction method that adjusts the penalty parameter per iteration based on the iterate message. Preliminary numerical tests show that the self-adaptive adjustment technique is effective in practice.
TL;DR: The smallest carbon nanotubes possible are described, prepared by the pyrolysis of tripropylamine molecules in the channels of porous zeolite AlPO4-5 (AFI) single crystals.
Abstract: Here we describe the smallest carbon nanotubes possible1, prepared by the pyrolysis of tripropylamine molecules in the channels of porous zeolite AlPO4-5 (AFI) single crystals2. These uniformly sized carbon nanotubes have a diameter of 0.4 nm and are the best example of one-dimensional quantum wires.
TL;DR: In this article, the roles of the number of trades, size of trades and order imbalance (buyer versus seller-initiated trades) in explaining the volatility-volume relation for a sample of NYSE and Nasdaq stocks were examined.
TL;DR: In this paper, the authors employ commodity flow data from input-output (IO) tables to construct two IO-based measures to capture inter-industry and inter-segment vertical relatedness and complementarity.
Abstract: Employing commodity flow data from input-output (IO) tables, we construct two IO-based measures to capture interindustry and intersegment vertical relatedness and complementarity. At the industry level, we demonstrate that the new IO-based measures outperform traditional measures based on Standard Industry Classification (SIC) codes. At the firm level, we report that firms increase their degree of vertical relatedness and complementarity over time. The increasing pattern is robust; it is not sensitive to accounting changes in segment definition, different weighting methods, and different IO data employed. As an application, we examine the valuation effects of relatedness in the context of corporate diversification. Copyright 2000 by University of Chicago Press.
TL;DR: In this article, the same authors reported that under solvothermal or hydrothermal conditions, reaction of copper(II) nitrate, terephthalic acid, and 4,4′-bipyridine7 results in the formation of an air-stable, open-framework coordination polymer with mixed-valence [Cu 2] dimer subunits.
Abstract: which are complementary to zeolites. Recently, we reported the solvothermal synthesis of a highly porous yet stable coordination polymer from copper ions and trimesic acid [Cu 3{1,3,5-C6H3(COO)3}2(H2O)3]n, 1.5 Central to the stability of 1 is the structural rigidity of its [Cu2(μ-O2CR)4L2] dimer units (Figure 1). A recent report by Japanese workers of a related sorption polymer [Cu{1,4-C6H4(COO)2}(H2O)x]n, prompted us to explore the solvothermal chemistry of the copper terephthalate system. Herein we report that under solvothermal or hydrothermal conditions, reaction of copper(II) nitrate, terephthalic acid, and 4,4′-bipyridine7 results in the formation of an air-stable, openframework coordination polymer with mixed-valence [Cu 2] dimer subunits, [Cu 4{1,4-C6H4(COO)2}3(4,4′-bipy)2]n, 2. We believe that the polymer represents the trapping through “supramolecular precipitation” of the unstable Cu(I) -Cu(II) dimers which are produced under the reducing conditions prevalent in the reaction media at high temperatures. Compound2 is formed phase-pure as small dark-blue blocks of ∼100 μm dimension in∼65% yield from a solvothermal reaction (180°C, 1 day) of [Cu(NO3)2]‚H2O, [1,4-C6H4(COOH)2] and [4,4′-bipy] of 1:1:1 ratio in 50% aqueous ethanol. Larger crystal specimens up to 1 mm are formed, although in much reduced yield (∼20% of the isolated solids) from a parallel hydrothermal reaction with copper sulfate. The dark coloration suggested a rather novel structure for 2 which was confirmed by single-crystal diffraction. 8
TL;DR: In this article, the authors conducted an empirical investigation to illustrate that the supervisor-subordinate guanxi concept is different and unique when compared to other similar concepts in the Western literature such as leader-member exchange (LMX) and commitment to supervisor.
Abstract: As China is becoming an important market and there are a lot of foreign ventures operating there, different lines of research have been providing useful information for foreign ventures to manage effectively in China. In this paper, we discuss one of the critical factors leading to successful management of Chinese subordinates, i.e. building and maintaining good guanxi (i.e., interpersonal connection) with them. We conducted an empirical investigation to illustrate (1) the supervisor-subordinate guanxi concept is different and unique when compared to other similar concepts in the Western literature such as leader-member exchange (LMX) and commitment to supervisor; (2) the supervisor-subordinate guanxi will affect the Chinese supervisor's administrative decisions; (3) guanxi can be measured by concrete behaviour/activities. Data on 189 supervisor-subordinate dyads were collected in the People's Republic of China (PRC). Results indicated that supervisor-subordinate guanxi is a distinct concept from LMX and ...
TL;DR: This survey paper will review most of the existing work with respect to each of the two major stages of the recognition process, and tries to put emphasis on the similarities and differences between systems.
Abstract: . Automatic recognition of mathematical expressions is one of the key vehicles in the drive towards transcribing documents in scientific and engineering disciplines into electronic form. This problem typically consists of two major stages, namely, symbol recognition and structural analysis. In this survey paper, we will review most of the existing work with respect to each of the two major stages of the recognition process. In particular, we try to put emphasis on the similarities and differences between systems. Moreover, some important issues in mathematical expression recognition will be addressed in depth. All these together serve to provide a clear overall picture of how this research area has been developed to date.
TL;DR: In this paper, an overview of the fracture behavior and failure mechanisms of composite laminates containing woven fabrics in mode I and mode II delamination and under impact loading is presented, where potential advantages of using woven fabrics as opposed to cross-ply unidirectional prepreg tapes are discussed from the viewpoint of the microstructure/property relationship.
TL;DR: In this paper, the authors present a theory of optimal debt structure when the moral hazard problem is severe, where the optimal debt contract delegates monitoring to a single senior lender and that seniority allows the monitoring senior lender to appropriate the full return from his monitoring activities.
Abstract: This paper presents a theory of optimal debt structure when the moral hazard problem is severe. The main idea is that the optimal debt contract delegates monitoring to a single senior lender and that seniority allows the monitoring senior lender to appropriate the full return from his monitoring activities. The theory explains (i) why debt contracts are prioritized, (ii) why short-term debt is senior to long-term debt, and (iii) why financial intermediaries usually hold short-term senior debt whereas long-term junior debt is widely held. Another implication of the theory is that covenant and maturity structures will be set to conform to the seniority structure.
TL;DR: In this article, the authors extended the multiple-scattering theory for elastic waves by taking into account the full vector character, and proposed a double-layer scheme to obtain the reflection and transmission matrix elements for the multilayer slab from those of a single layer.
Abstract: We extend the multiple-scattering theory for elastic waves by taking into account the full vector character. The formalism for both the band structure calculation and the reflection and transmission calculations for finite slabs is presented. The latter is based on a double-layer scheme which obtains the reflection and transmission matrix elements for the multilayer slab from those of a single layer. As a demonstration of applications of the formalism, we calculate the band structures of elastic waves propagating in a three-dimensional periodic arrangement of spherical particles and voids, as well as the transmission coefficients through finite slabs. In contrast with the plane-wave method, the multiple-scattering approach exhibits advantages in handling specialized geometries (spherical geometry in the present case). We also present a comparison between theory and ultrasound experiment for a hexagonal-close-packed array of steel balls immersed in water. Excellent agreement is obtained.
TL;DR: The model, solution method, and system developed and implemented for hot rolling production scheduling in Shanghai Baoshan Iron & Steel Complex shows 20% improvement over the previous manual based system.