{"title":"Grey relational analysis of factors affecting ipo pricing in China a-share market","authors":"Chui-yong Zheng, Jun Zhu","doi":"10.1109/GSIS.2017.8077674","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077674","url":null,"abstract":"IPO (Initial Public Offerings) pricing is a systematic and complicated task that directly determines whether the capital market is able to function in a healthy way. As China's stock market goes through ups and downs, China Securities Regulatory Commission generally adopts a positive strategy. Therefore, to weaken the policy factors, 48 cases of IPO companies dated from January 2014 to February 2014 (before price guidance of 23x P/E ratio ceiling) are selected as samples and an approach of grey relational analysis is adopted to analyze the degree on which different factors are able to have an influence. The results show that in general, internal enterprise value factors are likely to play a more important role when compared with external environmental factors. More specifically, profitability, growth potential, operating efficiency, industry characteristics, solvency, capital scale and structure are factors that are more influencing on the offering price, while the market overview and individual stock overview are ones that play a less important role. Based on these results some policy suggestions with regard to IPO pricing are also offered.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115685587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Coordinating O2O fresh agricultural supply chain considering information asymmetry when disruption occurs offline","authors":"Leizhou Zhao, Qing Zhang","doi":"10.1109/GSIS.2017.8077734","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077734","url":null,"abstract":"With an increasing number of fresh agricultural products flowing into O2O model, the managers of e-commerce companies are looking for investment opportunities to establish the distribution channels online and offline. Based on the fresh agricultural supply chain, time limitation and information asymmetry has been considered. In order to improve the experience in the offline store, detailer takes investment, which is based on the hypothesis that investment could bring more guests in a way. The research indicates that the increase of investment could improve the best sales volume and maximum of supply chain profits when influence parameter exceeds the threshold. And when influence parameter stays much lower, the increase of cost is superior to the increase of profits, resulting in the decrease of maximum of supply chain profits, which implies a worse chance to invest a lot.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116473803","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Image watermarking algorithm based on grey relational analysis and singular value decomposition in wavelet domain","authors":"Qiuping Wang, Junwen Ma, Xiaofeng Wang, Fengqun Zhao","doi":"10.1109/GSIS.2017.8077676","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077676","url":null,"abstract":"An image watermarking algorithm based on grey relational analysis and singular value decomposition in wavelet domain is proposed. Firstly, the host image is processed with one-level of discrete wavelet transform. The low frequency coefficients LL1 can be obtained from mentioned operation, and LL1 is divided into non-overlapping blocks whose size is same as watermarking. Secondly, through the gained coefficients of each block and the given random sequence, grey relational degrees which are preserved as training sample are acquired for each block. The largest singular value which can be found from singular value decomposition for each block is preserved as training target. Thus total training samples and corresponding training targets are obtained. Then, The LS_SVR model can be obtained through the training study. Next, through feeding the trained LS-SVR with the training samples to estimate the largest singular values, watermarking bits are embedded for adjusting the largest singular values. Finally, the watermarking is extracted by the reversing steps, and the extraction algorithm belongs to non-blind watermarking because the original host image is necessary. Experimental results show that the proposed scheme not only possesses good imperceptibility, but also has fine robustness against common signal processing.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121879996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research on stock price forecast based on gray relational analysis and ARMAX model","authors":"Chui-yong Zheng, Jun Zhu","doi":"10.1109/GSIS.2017.8077689","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077689","url":null,"abstract":"There are some uncertainties associated with the influencing factors in the stock price forecasting model. Main influencing factors of stock price are selected by gray relational analysis, and the main influencing factor was used as an exogenous variable to establish the ARMAX model to forecast the stock price. Taking PetroChina as an example to carry out case analysis, the result shows that the fitting between the stock price forecast and the actual value calculated by the ARMAX model is high. This paper effectively improves the accuracy of stock price forecasting while providing a valuable reference for investors.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121161475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Study on the incentive mechanism of crowdsourcing considering participator's fairness preference","authors":"Yanfeng Chu, Huijuan Cao","doi":"10.1109/GSIS.2017.8077726","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077726","url":null,"abstract":"The traditional principal-agent model is based purely on the self-interest of the agent. In this paper, the fairness preference is incorporated into the model, and the Crowdsourcing sponsors and the task participants are analyzed as a system. The fairness preference of task participants is considered to analyze the effect of fairness preference on benefit distribution. The study shows that the share coefficient and the fairness preference factor of the participants in the fixed-payers task are affected, and increasing the transparency of the information can increase the effort degree of the task participants and increase the profit of the enterprise.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"150 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116083964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis on the contribution rate of university education to China's manufacturing based on the grey system theory","authors":"Wei-zhuo Sun, Xiang Yu","doi":"10.1109/GSIS.2017.8077686","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077686","url":null,"abstract":"This paper examines the variation on the contribution rate of university education to economic growth of Chinese manufacturing from the year 2005 to 2014. We divided the period of economic growth of Chinese manufacturing into two stages; 2005–2010 and 2011–2014, and then calculated the contribution rates respectively. The results of both stages are then compared. Findings suggest, the contribution rate of university education to economic growth of Chinese manufacturing is on the rise during the year 2005–2014. This shows that the talent structure of Chinese manufacturing is reasonably increasing and China's traditional economic development pattern of manufacturing is transforming from extensive to intensive.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116137910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Lifetime evaluation grey GERT network model of equipment system","authors":"Xiaoyu Yang, Zhigeng Fang, Liangyan Tao","doi":"10.1109/GSIS.2017.8077721","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077721","url":null,"abstract":"The reliability evaluation of equipment system with high reliability and long life is widely studied in recent years. It is very hard or uneconomic to obtain enough failure samples of these equipment in reliability test. Although there are empirical information available, we cannot ignore the inaccurate or uncertainty of these information. In this context, a quantitative analysis model of reliability evaluation for equipment system is put forward in view of the few failure data of equipment life test. The multiple working states of the equipment system and random process of equipment state transition are presented by GERT network. Interval grey number is introduced to describe the uncertainty of the statistical data and experience information of GERT parameters. According to GERT matrix solving algorithm, the system equivalent transfer function can be obtained, and then the reliability evaluation of equipment system can be realized. Besides, the study provides a new thinking for reliability accelerated life test.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129090615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Dynamic analysis of industry-university-research cooperation conflict based on interval grey number preference","authors":"Ying Zhu, Ye-qing Guan, Haiyan Xu","doi":"10.1109/GSIS.2017.8077664","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077664","url":null,"abstract":"Conflict of interests in industry-university-research cooperation is the root cause impeding the achievement of cooperation. To provide a basis for decision makers involved in this conflict, dynamic method of conflict analysis could be effectively utilized. Due to the difficulty to obtain preferences of decision makers influenced by several uncertain factors, interval grey number is introduced to describe the uncertain preference in dynamic method of conflict analysis. A new probability of individual state transition is defined, and the dynamic method of conflict analysis based on interval grey number preference is proposed. Finally, an industry-university-research cooperation conflict with interval grey number preferences is analyzed by this new method, and the conflict evolution route is obtained.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128940423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evaluation of college curriculum's teaching effect in the context of flipped classrooms based on grey cluster model — Taking the course of film reviews in huangshan university as an example","authors":"Ziyun Zhao, H. Zhan","doi":"10.1109/GSIS.2017.8077717","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077717","url":null,"abstract":"In the context of flipped classrooms, the evaluation of college curriculum's teaching effect has been a hotspot in current education field. Aiming at the course characteristics of film reviews offered in Huangshan University, the paper establishes an evaluation index system from the angle of teaching output, and conducts an evaluation using grey cluster model. The results show that with the influence of flipped classrooms, the course of film reviews is positive on the cultivation of students' cooperative consciousness, while its effects to cultivate students' learning interest and improve students learning ability and performance are not obvious, which correspond to reality, verifying the method's effectiveness and practicability.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131483174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Patent Co-citation networks for high-tech industrial clusters — A case study of silicon valley high-tech industrial clusters","authors":"Weiwei Pan, Lirong Jian, Daao Wang, Tao Liu","doi":"10.1109/GSIS.2017.8077732","DOIUrl":"https://doi.org/10.1109/GSIS.2017.8077732","url":null,"abstract":"As a global innovation capital and industrial cluster representative, Silicon Valley affects the whole world for its scientific and technological innovation. Patent co-citation can be used as information carrier to identify the core technology patents and evaluate technical similarities between enterprises in industrial clusters. In this paper, we carry out industrial clusters analysis of Silicon Valley from the perspective of patents co-citation. Based on the Derwent patent database, a patent co-citation network analysis is carried out for top 150 high-tech enterprises in Silicon Valley to identify the industrial clusters in that region from 2001 to 2017. Through the analysis of industrial clusters, we can see the emerging industry development and different industrial clusters in Silicon Valley, and discover the connections of companies between different high-tech industries.","PeriodicalId":425920,"journal":{"name":"2017 International Conference on Grey Systems and Intelligent Services (GSIS)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131563943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}