Inventory financing under Risk-Adjusted-Return-On-Capital criterion

Risk-Adjusted-Return-On-Capital (RAROC) is a loan-pricing criterion under which a bank sets the loan term such that a certain rate of return is achieved on the regulatory capital required by the Basel regulation. Some banks calculate the amount of regulatory capital for each loan under the standardized approach (“standardized banks,” the regulatory capital is proportional to the loan amount), and others under the internal rating-based (IRB) approach (“IRB banks,” the regulatory capital is related to the Value-at-Risk of the loan). This article examines the impact of the RAROC criterion on the bank's loan-pricing decision and the retailer's inventory decision. We find that among the loan terms that satisfy the bank's RAROC criterion, the one that benefits the retailer the most requires the bank to specify an inventory advance rate in addition to the interest rate. Under this loan term, the retailer's inventory level is more sensitive to his asset level when facing an IRB bank compared to a standardized bank. An IRB (standardized) loan leads to higher profit and inventory level for retailers with high (low) asset. For retailers with medium asset, an IRB loan results in a higher retailer profit but a lower consumer welfare. Calibrated numerical study reveals that the benefit of choosing standardized banks (relative to IRB banks) can be as high as 30% for industries with severe capital constraints, volatile demands, and low profit margins, highlighting the importance for retailers to carefully choose the type of banks to borrow from. When the interest rate is capped by regulation, retailers borrowing from a standardized bank are more likely to be influenced by the interest rate cap than those borrowing from an IRB bank. Under strong empire-building incentives (the bank will offer loan terms to maximize the size of the loan), retailers with medium initial asset level shift their preference from IRB banks to standardized banks.     

Robust TDOA/FDOA estimation from emitter signals for hybrid localization using UAVs

This paper considers the time difference of arrival (TDOA) and frequency difference of arrival (FDOA)estimation problem for joint localization using unmanned aerial vehicles (UAVs),involving range migration (RM) and Doppler ambiguity within observation interval.A robust estimation method based on interpolation and resampling is proposed.Specifically,the interpolation artificially increases the pulse repetition frequency (PRF).After that,the resampling eliminates the coupling between range frequency and slow time.Finally,a coherent integration step based on inverse discrete Fourier transform (IDFT) is used to achieve parameter estimation and suppress the grating lobes caused by interpolation.The proposed method could be efficiently implemented by fast Fourier transform (FFF),inverse FFT (IFFF) and non-uniform FFT (NUFFT) without parameter searching procedures.Numerical experiments indicate that the proposed method has nearly optimal anti-noise performance but much lower computational complexity than the maximum likelihood estimator,which makes it more competitive in practical applications.     

神经网络自适应自动驾驶仪设计及其在AUV路径跟踪中的应用

针对AUV三维路径跟踪过程中的自动驾驶仪设计问题,根据时标分离原理将AUV路径跟踪自动驾驶仪系统即姿态稳定回路划分成快、慢回路.采用神经网络H∞鲁棒自适应控制算法分别设计了自动驾驶仪快、慢回路的控制器,用Lyapunov穗定性理论对系统进行了穗定性分析.仿真结果表明:路径跟踪控制系统具有良好的动态性能.     

基于最小最大决策的三站时差定位布阵优化

提出了一种基于最小最大决策的三站时差定位布阵优化方法,以提高系统对目标区域的整体定位精度。应用基于最小最大决策的最优化理论,建立布阵优化问题的数学模型。该模型以三站坐标为决策变量,以目标区域的最大水平定位误差最小为目标函数,然后运用基于最小最大决策的最优化算法,求解模型的最优解,并将此最优解作为三站时差定位系统的最优布阵。仿真结果与理论计算一致,验证了这种布阵优化结果的最优性。     

热处理对掺杂WO3的ITO薄膜性能的影响

用磁控溅射镀膜方法,制备掺杂WO3的ITO(xWO3-ITO)薄膜,经过热处理后对掺杂薄膜的表面形貌、吸收和透射光谱、面电阻等性能进行了测试.结果表明:适当的热处理能够提高xWO3-ITO薄膜在可见光范围内的透过率和在波长为228 nm处的吸光度.同时,该薄膜热处理后的方块电阻明显降低,导电性能得到明显提高.     

超高层建筑消防安全问题及对策

建筑高度超过一百米的建筑称为超高层建筑,超高层建筑的增多,为现代化城市带来生机与活力,但也给城市消防安全带来了新的难题,分析了超高层建筑消防安全问题,针对超高层建筑的火灾特点,提出预防和控制超高层建筑火灾的措施。     

强化消防竣工验收中消防产品监管措施的探讨

针对建设工程消防竣工验收中的消防产品监督管理工作,阐述了当前建设工程中使用不合格消防产品的主要表现和监管现状,指出在工程验收中消防产品监管工作存在的不足,并根据工作实际提出了整改和强化消防产品监管工作的措施。     

受限空间雾化射流降温与加湿作用数值分析

以雾化射流预防、控制受限空间内油气热安全事故为工程背景,综合可压缩流场控制方程、k-ε湍流模型、粒子动力学模型与相变传热模型,构建了描述受限空间内雾化射流降温与加湿作用的数值分析模型。借助Fluent流体动力学仿真软件,以1 600 mm×200 mm二维狭长受限空间中不同工况的雾化射流为算例,对雾化射流降温与加湿过程进行了数值模拟,并探讨了雾化射流流量与粒径的不同对上述作用的影响。所得结果为进一步探究雾化射流降温与加湿行为,推进雾化射流在热安全防护领域的工程应用提供借鉴和参考。     

10W/40高温重负荷润滑油在柴油发动机上的试验

为更好地研究高原地区车辆发动机与油料的适应性,针对高原地区特殊的地理环境气候特点,选用10W/40高温重负荷润滑油,对其进行了理化性能分析、350 h台架可靠性试验及高原实际行车试验。结果表明:该型润滑油具有优良的抗氧抗腐性、清净分散性和抗磨性,可满足高原地区大功率、重负荷柴油发动机的用油要求。     

排液槽对折板捕雾器性能影响数值模拟

为研究气液分离器内使用的折板式捕雾器的流场特性及排液槽对其性能的影响,利用流体动力学计算软件Fluent,采用Low-Re Stress-Omega模型和DPM两相流模型,对捕雾器气液两相流流场进行了数值模拟。通过对比安装排液槽前后捕雾器内流场,分析了排液槽对捕雾器流场速度、液滴运动轨迹的影响;发现排液槽能大幅提高捕雾器的除雾效率,10μm以上液滴基本能够全部去除,但是也会使除雾器压降急剧增大。最后研究了排液槽主要结构参数——折弯直径和长度对捕雾器性能的影响,发现增大排液槽折弯直径和长度均能增加除雾效率,但同时也会增大进出口压降。