Matching Items (5)
Filtering by

Clear all filters

153599-Thumbnail Image.png
Description
There has been much debate in the world of academia over the valuation of conglomerates. This thesis proposes the use of the EVA theory in explaining fluctuations in conglomerates’ valuation, and we believe that ROIC, WACC, and ROIC-WACC are three indicators that to a certain extent explain these valuation fluctuations.

There has been much debate in the world of academia over the valuation of conglomerates. This thesis proposes the use of the EVA theory in explaining fluctuations in conglomerates’ valuation, and we believe that ROIC, WACC, and ROIC-WACC are three indicators that to a certain extent explain these valuation fluctuations. Through analysis of a sample containing 23 conglomerates, this thesis finds that ROIC, WACC, and ROIC-WACC exhibit positive correlation with valuation fluctuations. In the case study on Fosun, this thesis finds that ROIC-WACC is highly correlated with Fosun’s valuation fluctuations and next with ROIC. Thus this thesis conjectures that for investment companies for which investment capital is derived largely from insurance float, such as Fosun, ROIC-WACC is a better valuation tool.
ContributorsLiang, Xinjun (Author) / Chen, Hong (Thesis advisor) / Pei, Ker-Wei (Thesis advisor) / Zhu, Ning (Committee member) / Arizona State University (Publisher)
Created2015
157900-Thumbnail Image.png
Description
Readout Integrated Circuits(ROICs) are important components of infrared(IR) imag

ing systems. Performance of ROICs affect the quality of images obtained from IR

imaging systems. Contemporary infrared imaging applications demand ROICs that

can support large dynamic range, high frame rate, high output data rate, at low

cost, size and power. Some of these applications are

Readout Integrated Circuits(ROICs) are important components of infrared(IR) imag

ing systems. Performance of ROICs affect the quality of images obtained from IR

imaging systems. Contemporary infrared imaging applications demand ROICs that

can support large dynamic range, high frame rate, high output data rate, at low

cost, size and power. Some of these applications are military surveillance, remote

sensing in space and earth science missions and medical diagnosis. This work focuses

on developing a ROIC unit cell prototype for National Aeronautics and Space Ad

ministration(NASA), Jet Propulsion Laboratory’s(JPL’s) space applications. These

space applications also demand high sensitivity, longer integration times(large well

capacity), wide operating temperature range, wide input current range and immunity

to radiation events such as Single Event Latchup(SEL).

This work proposes a digital ROIC(DROIC) unit cell prototype of 30ux30u size,

to be used mainly with NASA JPL’s High Operating Temperature Barrier Infrared

Detectors(HOT BIRDs). Current state of the art DROICs achieve a dynamic range

of 16 bits using advanced 65-90nm CMOS processes which adds a lot of cost overhead.

The DROIC pixel proposed in this work uses a low cost 180nm CMOS process and

supports a dynamic range of 20 bits operating at a low frame rate of 100 frames per

second(fps), and a dynamic range of 12 bits operating at a high frame rate of 5kfps.

The total electron well capacity of this DROIC pixel is 1.27 billion electrons, enabling

integration times as long as 10ms, to achieve better dynamic range. The DROIC unit

cell uses an in-pixel 12-bit coarse ADC and an external 8-bit DAC based fine ADC.

The proposed DROIC uses layout techniques that make it immune to radiation up to

300krad(Si) of total ionizing dose(TID) and single event latch-up(SEL). It also has a

wide input current range from 10pA to 1uA and supports detectors operating from

Short-wave infrared (SWIR) to longwave infrared (LWIR) regions.
ContributorsPraveen, Subramanya Chilukuri (Author) / Bakkaloglu, Bertan (Thesis advisor) / Kitchen, Jennifer (Committee member) / Long, Yu (Committee member) / Arizona State University (Publisher)
Created2019
155078-Thumbnail Image.png
Description
It is important and with significant practical value to study how positioning may help enhance a company’s brand value and improve a company’s profitability. It is especially essential to find suitable solution to help Chinese enterprises appropriately position their brands, evaluate brand value, and adopt suitable positioning strategy.

It is important and with significant practical value to study how positioning may help enhance a company’s brand value and improve a company’s profitability. It is especially essential to find suitable solution to help Chinese enterprises appropriately position their brands, evaluate brand value, and adopt suitable positioning strategy.

The purpose of this paper is to clarify the impact of positioning on brand value through several case studies and empirical research, and to establish the relationship between positioning and brand value. At the same time, through determination of research topics and conduction of field studies, the paper ultimately verified the relationship between the internal theoretical prediction and the business management outcomes.
ContributorsGuo, Min (Author) / Pei, Ker-Wei (Thesis advisor) / Cui, Haitao (Thesis advisor) / Li, Feng (Committee member) / Arizona State University (Publisher)
Created2016
187514-Thumbnail Image.png
Description随着市场环境的日趋激烈,并购已经成为了一种扩大自身规模,增强核心竞争力,实现战略发展目标的重要方式,近年来我国企业之间的并购活动不断增多,形式也逐渐多样,无论是采用横向或纵向,还是多元化的并购,其最终目的都是通过有效的并购行为推动企业快速发展。但由于并购活动十分复杂,一直以来理论界和实务界都关心这样一个问题:企业进行并购究竟是出于何种考虑?最自然的回答便是纷繁复杂的并购活动背后企业真实的并购动机是出于企业自身价值提升:从宏观上讲,公司并购是对社会资源在配置,表现为产业结构升级换代:从微观的公司个体角度讲,建立一个现代企业要求有两个完全不同的机制,即经营管理战略机制和公司交易战略机制,而上市公司的并购行为会促使其经营机制等发生改变。尽管并购这种形式已经被企业家们运用的十分熟练,但由于每个企业所处的市场环境、并购的过程、采用的手段等都有所不同,每一次并购行为都有其自身的特点,对于一些较为典型的并购案例其并购经验值得其他的企业进行参考。 本文采用案例分析的模式,首先阐述了并购和品牌价值的概念,并介绍了市场上常见的并购类型以及并购的内部动因和外部动因。通过研究过往案例梳理出品牌价值的影响因素以及并购对品牌认知度的影响。 其次,以美年健康并购慈铭体检为例,介绍了美年健康和慈铭体检的基本情况,梳理了美年健康并购慈铭体检的整个过程,对美年健康并购慈铭体检所处的历史时期以及并购动因进行分析。 随后,通过财务指标研究法对美年健康并购前后的绩效变化进行分析,主要通过并购前后的市场占有率、盈利能力、运营能力和成长能力四个方面的变化来入手;然后通过分析2014年-2019年美年健康EVA值的变化来分析并购前后美年健康企业价值是否实现增长。接着,通过问卷调查形式来分析消费者对于美年健康的体检业务、体检服务以及并购情况的认知情况,以此来分析消费者眼中美年健康的品牌价值在并购前后的变化。同时通过托宾Q理论来间接评价美年健康并购前后品牌价值变化。 最后,本文对美年健康并购慈铭体检这一案例做出总结。根据研究案例自身情况,分析美年健康并购慈铭体检的成功之处,归纳出其中值得借鉴的地方。有助于为其他中国拟通过并购实现品牌价值飞跃的企业提供参考。
ContributorsMiao, Hong (Author) / Pei, Ker-Wei (Thesis advisor) / Chiu, Tzu-Kuan (Thesis advisor) / Zhu, Qigui (Committee member) / Arizona State University (Publisher)
Created2023
157957-Thumbnail Image.png
Description
Point of Load (POL) DC-DC converters are increasingly used in space applications, data centres, electric vehicles, portable computers and devices and medical electronics. Heavy computing and processing capabilities of the modern devices have ushered the use of higher battery supply voltage to increase power storage. The need to address

Point of Load (POL) DC-DC converters are increasingly used in space applications, data centres, electric vehicles, portable computers and devices and medical electronics. Heavy computing and processing capabilities of the modern devices have ushered the use of higher battery supply voltage to increase power storage. The need to address this consumer experience driven requirement has propelled the evolution of the next generation of small form-factor power converters which can operate with higher step down ratios while supplying heavy continuous load currents without sacrificing efficiency. Constant On-Time (COT) converter topology is capable of achieving stable operation at high conversion ratio with minimum off-chip components and small silicon area. This work proposes a Constant On-Time buck dc-dc converter for a wide dynamic input range and load currents from 100mA to 10A. Accuracy of this ripple based converter is improved by a unique voltage positioning technique which modulates the reference voltage to lower the average ripple profile close to the nominal output. Adaptive On-time block features a transient enhancement scheme to assist in faster voltage droop recovery when the output voltage dips below a defined threshold. UtilizingGallium Nitride (GaN) power switches enable the proposed converter to achieve very high efficiency while using smaller size inductor-capacitor (LC) power-stage. Use of novel Superjunction devices with higher drain-source blocking voltage simplifies the complex driver design and enables faster frequency of operation. It allows 1.8VComplementary Metal-Oxide Semiconductor (CMOS) devices to effectively drive GaNpower FETs which require 5V gate signal swing. The presented controller circuit uses internal ripple generation which reduces reliance on output cap equivalent series resistance (ESR) for loop stability and facilitates ripples reduction at the output. The ripple generation network is designed to provide ai

optimally stable performance while maintaining load regulation and line regulation accuracy withing specified margin. The chip with ts external Power FET package is proposed to be integrated on a printed circuit board for testing. The designed power converter is expected to operate under 200 MRad of a total ionising dose of radiation enabling it to function within large hadron collider at CERN and space satellite and probe missions.
ContributorsJoshi, Omkar (Author) / Bakkaloglu, Bertan (Thesis advisor) / Kitchen, Jennifer (Committee member) / Long, Yu (Committee member) / Arizona State University (Publisher)
Created2019