Problem Of Overcapacity Research Articles

The long-term and short-term effects of interest rate volatility on corporate bankruptcy risk: An industry and supply chain perspective.

While higher interest rates increase the cost of credit financing for businesses, this study finds that the direct impact of this traditional credit transmission mechanism on corporate bankruptcy risk is limited. Instead, our research reveals that changes in corporate behavior induced by rising debt financing costs are the root cause of bankruptcy risk. In the short term, an increase in interest rates drives businesses to substitute supply chain financing for credit financing in pursuit of profit maximization. This mismatch of short-term debt and long-term investments undermines the sustainability of the supply chain, ultimately reducing financial security-sacrificing safety for profitability. In the long term, higher interest rates exacerbate the overcapacity problem in industries, increasing the unsustainability of the production and sales balance. Using data from China's construction industry, this study empirically tests these findings and, based on the main conclusions, provides policy suggestions regarding the long- and short-term effects of monetary policy on the sustainable development of China's construction industry: (1) focus on short-term interest rate risks and be vigilant against commercial credit bubbles; (2) long-term monetary policy should prioritize industrial structure optimization.

Optimization of the extraction process of goji berry pectin using response surface methodology and its suitability as thickener for yogurt

Although goji berry with many main biological activity components is a nutritional medicinal and edible plan and widespread in the northeast of China, its current development also faces a new challenge of overcapacity. So this study was largely focused to investigate the optimal extraction process conditions (extraction water proportion, acidic pH regulating reagent, adjusted pH, extraction temperature, extraction time) for goji berry with increased yield. Box Behnken experimental design (BBD) was used to model the mathematical model of the relationship between the three main influence of pivotal extraction parameters (extraction pH, extraction time and extraction temperature) selected by the single factor experiments on the responses of goji berry pectin yield (%). Morover the predicted models were adequately fitted to the real experimental data (18.507 % ± 0.275 %, P < 0.001) for all the response variables within a short time. The maximum yield of pectin was sufficiently obtained with optimal conditions of the best water-goji ratio of 20:1, extraction pH of 2.2 adjusted by hydrochloric acid, extraction time of 80 min at 76 °C. Interesting, as thickener, goji berry pectin does not only improve the health benefits of yogurt in some studies have reported, but it also improves its sensory properties and viscosity of the yogurt in this paper. It will effectively improve the efficiency of obtaining goji berry pectin, which will provide strong experimental evidence for the widespread application of goji berry pectin. Although goji berry pectin does not have significant advantages in sensory evaluation and yogurt viscosity, it has been proven in some studies to have good functionality in terms of nutrition. This provides a good idea for the development of functional foods urgently needed in the current aging society. Goji berry will be an effective alternative source of pectin on health food industry on large scale. In addition, this paper also provides a feasible approach to effectively solve the problem of goji berry overcapacity.

Tunable Luminescence of Glyoxylic Acid Modified Poly (Vinyl Alcohol) Film Codoped With Eu2+ and Eu3+

ABSTRACTPoly(vinyl alcohol) (PVA), a high‐consumption polymer, is currently facing the problem of overcapacity. The development of modified PVA with novel properties is an alternative way to solve this problem. In this work, glyoxylic acid was used as a bridging agent to indirectly bond europium ions to PVA molecule chain. The luminescence properties of the modified PVA materials were investigated by adjusting the reaction conditions such as pH value, heating treatment methods, reaction temperature, and doping concentration. Upon excitation at 394 nm, a strong and tunable luminescence is achieved due to the existence of both blue emission from Eu2+ and red emission from Eu3+. The luminescence properties are explained based on the reduction of Eu3+, the existence form of europium ions, and the arranged regulation of PVA molecules. The modified PVA materials have potential applications in the fields of displaying and lighting if their luminescence properties are further improved in the future.

Pidana Alternatif Undang-Undang Nomor 1 Tahun 2023 tentang Kitab Undang-Undang Hukum Pidana dan Kaitannya dengan Tujuan Pemidanaan

The enactment of the 2023 Criminal Code shows a change in the direction of punishment in Indonesia. The 2023 Criminal Code emphasises the purpose of punishment on prevention, correction, and restoration of balance, in contrast to the old Criminal Code which was more oriented towards providing deterrent effects. This is proven by the emergence of alternative punishment in the form of supervision punishment and social work punishment. The purpose of this study is to examine whether this alternative punishment is appropriate when viewed from the purpose of punishment and how the implementation of alternative punishment in other countries. This alternative punishment not only provides a more humane and restorative punishment option, but is also expected to overcome the problem of overcapacity of Correctional Institutions (Lapas). In addition, this research discusses the implementation of alternative punishment in other countries, such as the Netherlands and Portugal, which have proven effective in reducing the prison population and recidivism rate. By using normative juridical research method, the author makes the Criminal Code 2023 as the main legal basis to be analysed.

Optimization Method of the Win-Win Path of New Energy and Financial Innovation

In the process of industrial progress, financial innovation has played a vital role. Although the new energy industry is one of the country's seven strategic emerging industries, it still needs to rely on current financial assistance to deal with the oversupply of overcapacity problem. In order to optimize resource allocation and solve the problem of overcapacity, it is crucial to select appropriate channels for financial innovation. This study organized the benefit analysis of financial innovation on the typical characteristics of the new energy industry in the Shanghai and Shenzhen stock markets. Through these analyses, this study can determine the reliability and importance of the win-win path for new energy and financial innovation and provide appropriate policy guidance accordingly.

Review of Research on Overcapacity Measurement and Evaluation

Overcapacity will have an important impact on economic and social development, so it is a key research topic in academia. To study the problem of overcapacity, it is necessary to accurately measure overcapacity. Since different scholars have different interpretations of the connotation and denotation of overcapacity, a variety of overcapacity evaluation methods have emerged. This paper will review the domestic and foreign literature on the measurement and evaluation of overcapacity, analyze and compare different methods, and lay a theoretical foundation for subsequent relevant research, in order to provide help for China's overcapacity reduction work.

The impact of revolutionary aircraft designs on global aviation emissions

The discussion about the environmental impact caused by aviation has gained greater prominence due to the increased demand for this sector and, consequently, the increase in the number of flights. Environmental concerns have stimulated the development of novel approaches to reduce pollutants and CO2 emissions. This study aims to assess the impact of disruptive concepts on commercial aircraft by reducing CO2 emissions by 50% by 2050. In this regard the fleet system dynamics model is used to assess the effects of technological progress on future air transport systems. It accounts for the manufacturer’s production capabilities and current projections and forecasts on the needs and evolution of global air transport, as well as their expected entry into service. The main factors reported were production capacity, year of entry of the technology/concept, and the transport capacity and range of aircraft. The sensitivity study on the production capacity of new aircraft/concepts showed that with a 15% increase, emissions can be reduced between 1 and 2.6%, depending on the case and scenario. On the other hand, increasing the aircraft production capacity could lead to a problem of overcapacity.

Development and Prospects of China's Renewable Energy Export Trade under the Belt and Road Policy

Under the trend of economic globalization, the cost of renewable energy development has been decreasing globally, and renewable energy development has become the focus. But since 2018 the trade war between China and the United States has been escalating, and China's renewable energy development has been hindered by the United States because China's core technology is still not fully mastered. How to deal with related issues is crucial for China's development. The article uses literature analysis to analyze the impact of the US-China trade war and China's own overcapacity problem on China's renewable energy development, and to provide countermeasures to address the corresponding problems. This paper argues that the sustainable development of China's renewable energy industry faces three basic problems, which are restricted by the trade barriers of the US-China trade war, the lack of some core technologies, and the potential overcapacity problem in the future. In order to achieve sustainable development of renewable energy in China, it is suggested seizing the opportunity of the Belt and Road policy development with energy cooperation as the key area of development. By analyzing the various factors affecting the development of China's renewable energy industry, and by giving suggestions and countermeasures, this paper hopes to give a comprehensive understanding of the development history and prospects of the renewable energy industry in China and provide reliable suggestions for the development of related industries in China.

The impact of government subsidies on capacity utilization in the Chinese renewable energy industry: Does technological innovation matter?

With the rapid increase in China's installed capacity of renewable energy (RE), there has been growing concern regarding the problem of overcapacity in China's RE industry. However, there is ongoing debate regarding the influence of government subsidies (GS) on the RE industry's capacity utilization (CU), and the role of technological innovation in this aspect has been overlooked. This study utilizes panel data from 114 Chinese RE-listed companies spanning from 2011 to 2021, aiming to uncover the impact of GS on the CU of RE. The findings show that GS reduces the CU of RE firms. Specifically, GS has not only facilitated investments in RE but also bolstered enterprises' market share. However, the former effect is stronger, reducing the CU of RE companies. In addition, our findings reveal that when the technological innovation capability of RE companies surpasses a certain threshold, the negative impact is weakened. Finally, for non-state-owned, growth-stage, low R&D subsidy proportion, and western region-based RE firms, the adverse effect of GS on their CU is particularly prominent, but no statistically significant evidence to suggest such an effect for state-owned, non-growth-stage, high R&D subsidy proportion, and non-western region-based RE firms. Accordingly, we present targeted policy recommendations.

Has outward foreign direct investment alleviated industrial overcapacity in China? An empirical test of the upstream and downstream industrial links

This article investigates whether and how outward foreign direct investment (OFDI) affects the industrial overcapacity in China. Using the panel data of eight overcapacity industries between 2005 and 2016, the study reveals the effectiveness of OFDI in alleviating China's industrial overcapacity. In particular, it examines the lagged and threshold effects of OFDI on industrial overcapacity. Empirical results show that: First, OFDI in overcapacity industries and their downstream industries exacerbates China's industrial overcapacity problem. Second, the impacts of OFDI on upstream overcapacity industries and their downstream industries have a lagged effect of four and two years, respectively. Third, the threshold value for the impact of OFDI on industrial overcapacity is $16.17109 billion. These findings provide valuable investment references for China and other developing countries seeking to alleviate industrial overcapacity through international capacity cooperation.

Legal Protection of Correction Institutional Citizens Who Have Obligation to Work At Rutan Bangli

The sentencing process is the estuary of the justice system and law enforcement in Indonesia. However, not many people know that apart from serving time in correctional institutions and detention centers, convicts also undergo a coaching process and undergo mandatory work. Transforming into productive prisons and detention centers so as to generate PNBP and realize a better economy and for WBP itself can provide a decent life and livelihood. The problem of overcapacity, support for development programs in different nomenclature of detention centers and correctional institutions as well as marketing for sustainability and legal protection are obstacles in realizing optimal results from the development program. The problem to be investigated is from the perspective of how prisoners can act as workers, to the process of coaching and legal protection for prisoners who are undergoing compulsory work at the Bangli Class IIB State Detention Center. The research method used is empirical research by taking a statutory, conceptual, case and legal sociology approach, with primary and secondary data sources with research locations at the Rumah Tahanan Negara Kelas IIB Bangli Center. This study uses data collection techniques by interview, observation and documentation as well as recording with interpretation analysis. The results of the research show that prisoners do not only act as objects but are subjects who enthusiastically participate in compulsory work coaching activities for their own development and the rights that should be obtained, the coaching process at the Rumah Tahanan Negara Kelas IIB Bangli Center can run well to fulfill these rights. Prisoners' rights with coaching programs for working with third parties, and legal protection for convicts who are obliged to work are given preventively through applicable laws and regulations and can be conveyed on a reflexive basis to the Correctional Guardian or during the Correctional Observer Team (TPP) session.

The Chinese zombie firm: dilemma and resolution

The problems of over-capacity of zombie firms in China have attracted much attention. However, little is known theoretically, and even less empirically, about the boundaries and causes of zombie enterprises. This article extends a model to identify the characteristics of zombie firms in consideration of supply-side structural reform in China. We focus on the cause of zombie firms under the background of the ‘de-capacity’ strategy in China. Using a sample of Chinese listed companies over the period 2006–2018, we find that the proportion of zombie firms in the manufacturing industry declined significantly due to expansionary fiscal policy in 2011. Moreover, the structure of ownership, operational capabilities, and debt-paying ability co-varies positively, with state-owned enterprises being most prone to becoming zombie firms. The results allow us to construct various insights into how to govern the zombie firm. These results offer a frame for dealing with zombie firms. Our results are also robust in the sensitivity test of changing the measurement of zombie firms.

Using FOCUS-PDSA Quality Improvement Methodology Model in Healthcare: Process and Outcomes.

Using FOCUS-PDSA Quality Improvement Methodology Model in Healthcare: Process and Outcomes.

Criminal Law Study on the Effectiveness of Prison Criminal in the Settlement of General Criminal Actions Related to the Indonesian Criminal Justice System

The effectiveness and negative consequences of imprisonment have led to a new wave of penal policies, namely the tendency to avoid or limit the use of imprisonment and to improve the implementation of imprisonment. In other words, the study of criminal law on alternative crimes is intended for crimes that are classified as minor and one of the considerations is to address prison overcapacity. The problem of overcapacity of prisons is related to the judicial process of criminal cases, especially general crimes that are classified as light, because the criminal system itself causes problems due to the frequent imposition of prison sentences resulting in overcapacity of prisons. The purpose of this study is to identify and analyze criminal law studies on imprisonment in the settlement of general crimes, as well as to determine and analyze the effectiveness of imprisonment in the Indonesian justice system. This study uses normative juridical research, secondary data sources, and is analyzed qualitatively.

Product Competition and Firm Overcapacity: Evidence from China

ABSTRACT We exploit the competition policy in China to test whether product competition affects firm’s overcapacity. By introducing the shock of enacting of the Chinese Anti-Monopoly Law, our difference-in-differences estimation shows that the overcapacity of firms with larger market power has a significant decrease. The possible explanations are that the product competitions significantly increase after the monopoly activities and local protectionism are prohibited, which lead to the reduction of zombie firms, and the decline of firms’ bank loans and over-investment inefficiency. The effects are more pronounced to stated-owned firms, political connected firms, firms in cities with lower regional marketization and firms under industries with less competition. Overall, this study provides timely policy implications for central regulators concerned with the outcomes of the enforcement for the anti-monopoly policy and the solutions for the overcapacity problems.

Capacity utilization shifting or resource-seeking? Benefits for Chinese enterprises participating in the belt and road initiative

This study investigates the benefits gained by Chinese listed enterprises participating in China's Belt and Road Initiative (BRI). We dispel the concern that the BRI provides a way for Chinese firms to shift excess capacity, instead finding that the capacity utilization of BRI participant firms is worsening. State-owned enterprises (SOEs) are the primary contributors to this effect. Moreover, we present evidence that overinvestment and decreased innovation capabilities are the underlying channels of the overcapacity problem. Finally, further analyses reveal distinct benefits accruing to the different ownership structures of BRI-participating enterprises, implying diverse motivations. We demonstrate that domestic political and overseas market resources for non-SOEs in the post-BRI period are significantly improved, which is not the case for SOEs.

Measuring capacity utilization under the constraints of energy consumption and CO2 emissions using meta-frontier DEA: A case of China's non-ferrous metal industries

Currently, China's non-ferrous metal industry (NMI) still has the problem of overcapacity, measuring its capacity utilization (CU) and revealing its determinants is an important way to resolve the overcapacity problem of China's NMI. Using the panel data of China's 29 NMIs, this paper constructs a meta-frontier data envelopment analysis (DEA) to measure CU by taking into account the energy consumption and CO2 emissions constraints, and decompose the CU into four parts: technical efficiency, technology gap, scale efficiency, and equipment utilization. The main findings indicate that during the period of 2004–2017, the CU of China's NMI is generally low. Non-ferrous metal alloy manufacturing and rolling processing has the highest CU, while non-ferrous metals mining and dressing shows the lowest CU. From the dynamic perspective, mining and dressing experienced CU decrease, while other two sub-industries achieved CU increase. Technical inefficiency and technology gap enlargement are two main barriers of China's NMIs' CU. Besides, among 29 NMIs, there are only ten industries witnessed a CU improvement, while the remaining nineteen industries all experienced decrease of CU. CU and its determinants across China's 29 NMIs are quite different. Thus, the policies to improve CU should be made tailored to each industry's features.

Eco-econo-efficiency Based Quota Allocation towards Coal De-capacity Reform Implementation: Case Study from China

Reducing coal capacity is an essential part of China’s energy transition, with the formulation of a coal de-capacity quota allocation plan the key to achieving its coal overcapacity reductions. This paper presents a coal decapacity quota allocation mechanism based on a comprehensive consideration of the ecological, economic, and efficiency concerns at the enterprise level to deal with China’s coal overcapacity problems. A multi-objective optimization quota allocation model based on equilibrium strategy is established for the decision makers, in which the ecological concerns are measured by three waste emissions, the economic concern assessed based on the coal de-capacity costs, and the efficiency measured using a DEA method. By introducing a membership function method, the model is transformed into its equivalent single form and solved using LINGO software. To prove the practicality of the model, a case analysis was conducted. The results indicate that due to the different ecological and economic level in each coal mine, the allocation ratio of each coal mine for coal de-capacity is quite different. Compared with the government plan to reduce overcapacity in the mining area, the ecological benefits of the enterprise’s strategy increases by 4.69 million tonnes, and the economic costs has reduced 42.79 million CNY. A sensitivity analysis under different parameters for the decision maker preferences implemented, and the production efficiency changes in the mining areas analyzed and compared. It was found that although coal capacity reduction quota allocations can be affected by the decision makers preferences, the comprehensive ecological, economic, and efficiency objectives at small scale, low-efficiency coal mines should take on additional coal capacity reduction tasks. After the optimal allocations, the efficiencies in all mining areas reached an optimal value.

Study on policy synergy strategy of the central government and local governments in the process of coal de-capacity: Based on a two-stage evolutionary game method

In recent years, the Chinese government has intensively introduced a series of measures to solve the problem of overcapacity in the coal industry, but the effect is not ideal. Policy synergy between the central government (CG) and local governments (LGs) can effectively reduce overcapacity and promote energy transition. Based on China's fragmented administrative management system and public policy process attributes, this study investigates the CG-LGs’ policy synergy strategy choice and influencing factors in the process of coal de-capacity in China using a two-stage evolutionary game model. The results show that: first, in the policy formulation stage, reducing policy formulation costs and increasing public credit losses can prompt the CG to consider provincial heterogeneity, while reducing policy formulation costs and increasing political gains and administrative penalties can prompt LGs to actively negotiate with the CG to develop policies. Second, in the policy implementation stage, the positive net income of LGs can result in an ideal situation (i.e., the CG chooses the loose supervision strategy, but LGs still adopt the strict enforcement strategy). Reducing implementation costs, enhancing environmental quality, and establishing reasonable reward and punishment mechanisms prompt LGs to implement a de-capacity policy. Third, the CG's strategic choice in the policy formulation stage impacts the evolution of the strategies of the two subjects in the policy implementation stage. The above results promote policy synergy between CG and LGs and provide insights for policymakers for designing an effective coal production capacity governance model.

Pilot test of low-rank coal pyrolysis coupled with gasification to hydrogen-rich gas for direct reduced iron: Process modeling, simulation and thermodynamic analysis

A Coal-Coke-Hydrogen-Iron (CCHI) system, low-rank coal pyrolysis coupled with gasification based on pilot test to hydrogen-rich gas for direct reduced iron (DRI), was proposed. The new process creatively proposes to blend the pyrolysis gas produced by pyrolysis of non-coking coal with the gasification gas produced by gasified coke to obtain the reducing gas that can meet the requirements of the DRI technology, addressing the problems of overcapacity in the coking industry and high carbon emissions in the steel industry. A strategy of partial cycle of top gas (rich in H2 and CO) from the shaft furnace is adopted to improve gas utilization and reduce carbon emissions, which is named as CCHI system with top gas cycle (CCHI-WTC) system. The key operation parameters and conditions such as steam/coke ratio, oxygen/coke ratio, reforming ratio and circulation ratio are optimized at 0.98, 0.43, 1.00 and 12.33 %, under which the energy consumption per unit product, exergy loss per unit product and greenhouse gas unit product emission of CCHI-WTC system can reach 15.13 GJ/t, 7.85 GJ/t and 761.50 kg/t, being reduced by 24.16 %, 20.14 % and 50.01 % compared to the traditional Coking-Blast furnace ironmaking process, respectively. This work provides a new low-rank coal application approach and breaks down the industry barriers of coal chemical industry and metallurgy.