本文精选了管理学领域国际期刊《Journal of Management Science and Engineering》近期发表的论文，提供管理学领域最新的学术动态。

Could coal-fired power plants with CCS be an effective way for carbon neutrality in China?

原刊和作者：

Journal of Management Science and Engineering Volume 9, Issue 4

Boqiang Lin （Xiamen University）

Zhiwei Liu （Xiamen University）

Abstract

The transition toward carbon neutrality in China necessitates integrating more renewable energy sources (RES) into the power grid. However, a high share of RES can destabilize the grid, making it crucial to add clean, flexible power sources, such as battery energy storage systems (BESS) and flexible coal power combined with carbon capture and storage (CCS). This study shifted focus from traditional power plants to flexible power solutions, including BESS and CCS, and adopted a macro perspective. An hourly basis simulation model of the power system was developed to assess the cost-effectiveness of these flexible power options. The results revealed that BESS is more cost-effective when RES penetration rates are low, whereas CCS becomes more advantageous as RES constitutes a larger portion of the power supply. Combining BESS and CCS can ensure grid stability and maximize RES utilization. Sensitivity analysis indicated the need to control power demand growth to support this transition effectively.

Link: https://doi.org/10.1016/j.jmse.2024.05.003

Forecasting the market value of power battery industry chain: A novel RRMIDAS-SVR model

原刊和作者：

Journal of Management Science and Engineering Volume 9, Issue 4

Weiqing Wang （University of Science and Technology Beijing）

Zengbin Zhang （University of Science and Technology Beijing）

Liukai Wang （University of Science and Technology Beijing）

Hairong Lan （China University of Mining and Technology）

Yu Xiong （University of Surrey）

Abstract

The emergence of electric vehicles has contributed to mitigating air pollution and greenhouse effects caused by traditional fuel vehicles. The power battery industry chain, which is a primary component of electric vehicles, requires more attention to monitor its development status. This study proposes a novel method for forecasting the development status of the power battery industry chain by monitoring the market value index of all listed companies in the power battery industry. It proposes a new forecasting model, RRMIDAS-SVR, which outlines reverse-restricted mixed data sampling (RRMIDAS) into support vector regression (SVR) to end the data-driven challenges of mixed-frequency data and nonlinear relationships. We estimate the RRMIDAS-SVR model using a quadratic programming problem and mixed-frequency West Texas Intermediate crude oil futures prices, electric vehicle sales, and the consumer price index as predictors of the market value of all listed companies in the power battery industry chain. The experimental findings reveal that the RRMIDAS-SVR model outperforms the other models, as evidenced by its lower mean absolute error and root-mean-square error. This study contributes to understanding the development status of the power battery industry value chain by proposing and developing a new approach, RRMIDAS-SVR, to monitor the industry's development status that considers a multi-source information set. Moreover, this study provides strategic insights for stakeholders in the power battery industry.

Link: https://doi.org/10.1016/j.jmse.2024.06.004

Can smart transportation reduce carbon emission intensity? — An empirical study from macro and micro perspectives in China

原刊和作者：

Journal of Management Science and Engineering Volume 9, Issue 4

Shuai Ling （Tianjin University）

Shurui Jin （Tianjin University）

Qing Wang （Tianjin University）

Paul M. Schonfeld （University of Maryland）

Abstract

Traditional transportation development has yielded significant economic and social benefits, but it has also led to increased pollution emissions and substantial environmental impacts. Transport has become a major source of carbon emissions in China. Against the backdrop of national goals for “carbon peak” and “carbon neutrality”, the development of smart transportation offers a fresh perspective on reducing carbon emission intensity. In this study, both provincial and enterprise-level data from China are used to examine the critical role of smart transportation in reducing carbon emission intensity from both macro and micro perspectives, and the dynamic threshold model is employed to validate the inverted U-shaped relationship between the energy structure and digital infrastructure in the carbon reduction process facilitated by smart transportation. In addition, in this mechanism, green innovation and the digital economy play pivotal roles. Multiple robustness tests confirmed the reliability of the empirical analysis. This study highlights the important role of smart transport in carbon intensity and provides valuable insights for developing countries aimed at transitioning toward environmentally friendly, low-carbon, intelligent and advanced transport.

Link: https://doi.org/10.1016/j.jmse.2024.05.005

Impact of the COVID-19 pandemic on the intermittent behavior of the global spot markets of staple food crops

原刊和作者：

Journal of Management Science and Engineering Volume 9, Issue 4

Xing-Lu Gao （East China University of Science and Technology）

Zhi-Qiang Jiang （East China University of Science and Technology）

Wei-Xing Zhou （East China University of Science and Technology）

Abstract

Intermittent or multifractal behavior has been reported in various markets, and the impact of the COVID-19 pandemic has been investigated. However, the impact of the COVID-19 pandemic on global spot markets for staple foods has not yet been studied. We fill this gap by investigating the grain and oilseeds index (GOI) and its five sub-indices, wheat, maize, soybean, rice, and barley, released by the International Grains Council (IGC). We perform statistical tests on the presence of intrinsic multifractal behavior in subsamples before and during the COVID-19 pandemic using five multifractal analysis approaches. The results show that intrinsic multifractality is less likely in the (sub-)samples of rice and soybean, whereas the (sub-)samples of wheat and maize are more likely to possess multifractal nature. Only some (sub-)samples showed that the subsamples during COVID-19 were more intermittent than the subsamples before COVID-19.

Link: https://doi.org/10.1016/j.jmse.2024.05.002

Ambiguity, limited market participation, and the cross-sectional stock return

Journal of Management Science and Engineering Volume 9, Issue 4

Yefang Yuan （Zhongnan University of Economics and Law）

Aifan Ling （Shanghai International Studies University）

Zhijun Hu （Jiangxi University of Finance and Economics）

Abstract

Using expected utility under uncertain probability theory (EUUP, Izhakian, 2017, 2020), we study whether the ambiguity related to individual stocks is priced in the Chinese A-share market and the mechanism behind the ambiguity premium phenomenon. Theoretically, when the asset price is within a specific range, ambiguity-averse investors refrain from participating in trading. As asset ambiguity increases, high ambiguity-averse investors exit the market, with those with lower aversion remaining in the market (limited market participation phenomenon). Investors who remain in the market due to lower ambiguity aversion are willing to accept a low ambiguity premium. Empirically, we measure monthly ambiguity using the volatility of daily stock return distributions within a month and find the following: (1) The equal-weighted average returns of the most ambiguous portfolios (top 20%) are significantly lower than those of the least ambiguous portfolios (bottom 20%). (2) Ambiguity still significantly negatively affects the cross-sectional stock return after controlling for common firm characteristics. (3) The higher the ambiguity, the lower the future trading activity, supporting our theoretical predictions. These findings reveal the mechanism of the negative ambiguity premium in the Chinese A-share market. This study provides new ideas for building a factor-pricing model suitable for the A-share market and a fresh perspective for preventing systemic financial risk.

Link: https://doi.org/10.1016/j.jmse.2024.06.003