Matching Items (147)
Description自2018年下半年以来，全球主要经济体复苏动力减弱，全球经济下行风险加大，全球贸易环境趋紧，局部金融风险增大，地缘热点地区的博弈依旧激烈。2020年新型冠状病毒疫情全球蔓延，世界经济复苏遭遇阻力。黄金作为一种古老的货币，其不仅拥有商品属性，还兼具有货币属性和金融属性，其避险功能和保值效果能有效分散家庭资产组合的非系统性风险。本文利用23个全球主要黄金市场国家的面板数据，从黄金资产配置收入效应和替代效应、避险动机、金融市场不确定性、文化差异等角度分析家庭黄金商品配置（黄金饰品）和家庭黄金投资品配置（黄金条块）的影响因素。其次针对中国高净值人群资产配置展开问卷调查，主要关注高净值人群风险偏好、金融素养等因素在家庭资产中配置黄金的影响。
本文发现的主要结论是：（1）人均收入水平高的国家，家庭黄金资产配置比例越低，即居民整体收入越高，居民黄金资产配置越低；（2）十年期国债名义年化收益率、国家主要股票指数收益率对家庭黄金资产配置比例不具有显著影响，在通货膨胀率较高的国家，家庭居民会选择消费更多黄金饰品而非购买黄金投资品来提升黄金资产的配置比例；（3）全球金融市场风险较高时，家庭通过购买黄金投资品来配置黄金资产的比例显著提升，即各国居民面对全球金融市场风险时，会选择配置黄金资产来规避风险；（4）受到东亚文化辐射越深入的国家，家庭黄金投资品的配置比例和家庭黄金饰品的配置比例越高；（5）高净值人群风险偏好水平的提升，家庭资产配置黄金的可能性偏高，但是高净值人群黄金配置比例与风险偏好水平无显著相关性；（6）高净值人群金融素养水平的提升，家庭资产配置黄金的可能性偏高，但是高净值人群黄金配置比例与金融素养水平无显著相关性。
ContributorsYang, Hong (Author) / Shen, Wei (Thesis advisor) / Wu, Fei (Thesis advisor) / Hou, Kewei (Committee member) / Arizona State University (Publisher)
Created2021
Description中国改革开放以来经济高速发展，一部分人群快速积累了大量财富，迫切需要专业机构对其财富进行有效管理，激发了中国私人银行市场的蓬勃发展。本文利用M银行全部私人银行网点的客户资产配置数据，以省级行政单位为划分，从核心公共资源供给角度出发，探究地区公共资源财政支出对私人银行客户数量增长和资产配置的影响。本文通过实证研究发现：（1）在人均公共安全财政支出较高、人均公共教育财政支出较低的地区，即公共安全资源相对匮乏、公共教育资源相对丰富的地区，私人银行客户规模增速较快；（2）在人均公共安全财政支出较高，即公共安全资源相对匮乏的地区，高净值人群会积极配置流动性良好的银行存款类产品和保险类产品，同时会减少配置高风险、高收益的理财类产品和基金类产品；（3）在人均公共医疗卫生财政支出较高，即公共医疗资源相对匮乏的地区，高净值人群会积极配置银行存款类产品，同时减少保险类产品和理财类产品的配置比例；（4）在人均公共教育财政支出较高，即公共教育资源相对匮乏的地区，高净值人群会积极配置银行保险类产品和理财类产品，同时减少存款类产品的配置比例。
ContributorsMa, Ying (Author) / Shen, Wei (Thesis advisor) / Wu, Fei (Thesis advisor) / Wang, Tan (Committee member) / Arizona State University (Publisher)
Created2021
Description
This creative project is a part of the work being done as a Senior Design Project in which an autonomous solar charge controller is being developed. The goal of this project is to design and build a prototype of an autonomous solar charge controller that can work independently of the power grid. This solar charge controller is being built for a community in Monument Valley, Arizona who live off grid. The controller is designed to step down power supplied by an array of solar panels to charge a 48V battery and supply power to an inverter. The charge controller can implement MPPT (Maximum Power Point Tracking) to charge the battery and power the inverter, it also is capable of disconnecting from the battery when the battery is fully charged and reconnecting when it detects that the battery has discharged. The charge controller can also switch from supplying power to the inverter from the panel to supplying power from the battery at low sun or night. These capabilities are not found in solar charge controllers that are on the market. This project aims to achieve all these capabilities and provide a solution for the problems being faced by the current solar charge controller
ContributorsSingh, Khushi (Author) / Goryll, Michael (Thesis director) / Kitchen, Jennifer (Committee member) / Barrett, The Honors College (Contributor) / Electrical Engineering Program (Contributor)
Created2021-12
Description
There is an increasing demand for fully integrated point-of-load (POL) isolated DC-DC converters that can provide an isolation barrier between the primary and the secondary side, while delivering a low ripple, low noise regulated voltage at their isolated sides to a high dynamic range, sensitive mixed signal devices, such as sensors, current-shunt-monitors and ADCs. For these applications, smaller system size and integration level is important because the whole system may need to fit to limited space. Traditional methods for providing isolated power are discrete solutions using bulky transformers. Miniaturization of isolated POL regulators is becoming highly desirable for low power applications.
A fully integrated, low noise isolated point-of-load DC-DC converter for supply regulation of high dynamic range analog and mixed signal sensor signal-chains is presented. The isolated DC-DC converter utilizes an integrated planar air-core micro-transformer as a coupled resonator and isolation barrier and enables direct connection of low-voltage mixed signal circuits to higher supply rails. The air core transformer is driven at its primary resonant frequency of 100 MHz to achieve maximum power transfer. A mixed-signal perturb-and-observe based frequency search algorithm is developed to improve maximum power transfer efficiency by 60% across the isolation barrier compared to fixed driving frequency method. The isolated converter’s output ripple is reduced by utilizing spread spectrum clocking in the driver. An isolated PMOS LDO in the secondary side is used to suppress switching noise and ripple by 21dB. Conducted and radiated EMI distribution on the IC is measured by a set of integrated ring oscillator based noise sensors with -68dBm noise sensitivity. The proposed isolated converter achieves highest level of integration with respect to earlier reported integrated isolated converters, while providing 50V on-chip junction isolation without the need for extra silicon post-processing steps.
A fully integrated, low noise isolated point-of-load DC-DC converter for supply regulation of high dynamic range analog and mixed signal sensor signal-chains is presented. The isolated DC-DC converter utilizes an integrated planar air-core micro-transformer as a coupled resonator and isolation barrier and enables direct connection of low-voltage mixed signal circuits to higher supply rails. The air core transformer is driven at its primary resonant frequency of 100 MHz to achieve maximum power transfer. A mixed-signal perturb-and-observe based frequency search algorithm is developed to improve maximum power transfer efficiency by 60% across the isolation barrier compared to fixed driving frequency method. The isolated converter’s output ripple is reduced by utilizing spread spectrum clocking in the driver. An isolated PMOS LDO in the secondary side is used to suppress switching noise and ripple by 21dB. Conducted and radiated EMI distribution on the IC is measured by a set of integrated ring oscillator based noise sensors with -68dBm noise sensitivity. The proposed isolated converter achieves highest level of integration with respect to earlier reported integrated isolated converters, while providing 50V on-chip junction isolation without the need for extra silicon post-processing steps.
ContributorsLiu, Chengxi (Author) / Bakkaloglu, Bertan (Thesis advisor) / Kiaei, Sayfe (Committee member) / Song, Hongjiang (Committee member) / Kitchen, Jennifer (Committee member) / Arizona State University (Publisher)
Created2018
Description
This thesis aims to investigate the impacts of foreign banks’ management model on their degree of localization and operating efficiency. I decompose their management model into five major factors, including two formative factors and three reflective factors. The two formative factors are (1) strategic orientation and (2) target customers, and the three reflective factors are (1) top management team composition, (2) organizational structure, and (3) managerial authority and incentives. I propose that the formative factors influence foreign banks’ degree of localization, as demonstrated by the reflective factors, which subsequently influence foreign banks’ operating efficiency in China.
To test the above proposition, I conduct the empirical analysis in three steps. In the first step, I investigate foreign banks’ management model by surveying 13 major foreign banks locally incorporated in Mainland China. The results suggest that these 13 foreign banks can be categorized into three distinct groups based on their management model: intergrators, customer-followers, and parent-followers. The results also indicate that intergrators have the highest level of localization while parent-followers have the lowest level of localization.
In the second step, I conduct DEA (Data Envelope Analysis) and CAMEL (Capital Adequacy, Asset Quality, Management, Earnings, Liquidity Analysis) to assess the operating efficiency of these 13 foreign banks. The assessment is conducted in two ways: 1) the inter-group comparison between foreign banks and local Chinese banks; 2) the intra-group comparison between the three distinct groups of foreign banks identified in the first step. The results indicates that the principal factor driving the operating efficiency of both local Chinese banks and foreign banks is the comprehensive technical efficiency, which includes both the quality of management and the quality of technical elements. I also find the uptrend of technical efficiency of the integrators is more stable than that of the other two groups of foreign banks.
Finally, I integrate the results from step one and step two to assess the relevance between foreign banks’ localization level and operating efficiency. I find that foreign banks that score higher in localization tend to have a higher level of operating efficiency. Although this finding is not conclusive about the causal relationship between localization and operating efficiency, it nevertheless suggests that the management model of the higher performing integrators can serve as references for the other foreign banks attempting to enhance their localization and operating efficiency. I also discuss the future trends of development in the banking industry in China and what foreign banks can learn from local Chinese banks to improve their market positions.
To test the above proposition, I conduct the empirical analysis in three steps. In the first step, I investigate foreign banks’ management model by surveying 13 major foreign banks locally incorporated in Mainland China. The results suggest that these 13 foreign banks can be categorized into three distinct groups based on their management model: intergrators, customer-followers, and parent-followers. The results also indicate that intergrators have the highest level of localization while parent-followers have the lowest level of localization.
In the second step, I conduct DEA (Data Envelope Analysis) and CAMEL (Capital Adequacy, Asset Quality, Management, Earnings, Liquidity Analysis) to assess the operating efficiency of these 13 foreign banks. The assessment is conducted in two ways: 1) the inter-group comparison between foreign banks and local Chinese banks; 2) the intra-group comparison between the three distinct groups of foreign banks identified in the first step. The results indicates that the principal factor driving the operating efficiency of both local Chinese banks and foreign banks is the comprehensive technical efficiency, which includes both the quality of management and the quality of technical elements. I also find the uptrend of technical efficiency of the integrators is more stable than that of the other two groups of foreign banks.
Finally, I integrate the results from step one and step two to assess the relevance between foreign banks’ localization level and operating efficiency. I find that foreign banks that score higher in localization tend to have a higher level of operating efficiency. Although this finding is not conclusive about the causal relationship between localization and operating efficiency, it nevertheless suggests that the management model of the higher performing integrators can serve as references for the other foreign banks attempting to enhance their localization and operating efficiency. I also discuss the future trends of development in the banking industry in China and what foreign banks can learn from local Chinese banks to improve their market positions.
ContributorsSun, Minjie (Author) / Shen, Wei (Thesis advisor) / Qian, Jun (Thesis advisor) / Pei, Ker-Wei (Committee member) / Arizona State University (Publisher)
Created2016
Description
High-efficiency DC-DC converters make up one of the important blocks of state-of-the-art power supplies. The trend toward high level of transistor integration has caused load current demands to grow significantly. Supplying high output current and minimizing output current ripple has been a driving force behind the evolution of Multi-phase topologies. Ability to supply large output current with improved efficiency, reduction in the size of filter components, improved transient response make multi-phase topologies a preferred choice for low voltage-high current applications.
Current sensing capability inside a system is much sought after for applications which include Peak-current mode control, Current limiting, Overload protection. Current sensing is extremely important for current sharing in Multi-phase topologies. Existing approaches such as Series resistor, SenseFET, inductor DCR based current sensing are simple but their drawbacks such low efficiency, low accuracy, limited bandwidth demand a novel current sensing scheme.
This research presents a systematic design procedure of a 5V - 1.8V, 8A 4-Phase Buck regulator with a novel current sensing scheme based on replication of the inductor current. The proposed solution consists of detailed system modeling in PLECS which includes modification of the peak current mode model to accommodate the new current sensing element, derivation of power-stage and Plant transfer functions, Controller design. The proposed model has been verified through PLECS simulations and compared with a transistor-level implementation of the system. The time-domain parameters such as overshoot and settling-time simulated through transistor-level
implementation is in close agreement with the results obtained from the PLECS model.
Current sensing capability inside a system is much sought after for applications which include Peak-current mode control, Current limiting, Overload protection. Current sensing is extremely important for current sharing in Multi-phase topologies. Existing approaches such as Series resistor, SenseFET, inductor DCR based current sensing are simple but their drawbacks such low efficiency, low accuracy, limited bandwidth demand a novel current sensing scheme.
This research presents a systematic design procedure of a 5V - 1.8V, 8A 4-Phase Buck regulator with a novel current sensing scheme based on replication of the inductor current. The proposed solution consists of detailed system modeling in PLECS which includes modification of the peak current mode model to accommodate the new current sensing element, derivation of power-stage and Plant transfer functions, Controller design. The proposed model has been verified through PLECS simulations and compared with a transistor-level implementation of the system. The time-domain parameters such as overshoot and settling-time simulated through transistor-level
implementation is in close agreement with the results obtained from the PLECS model.
ContributorsBurli, Venkatesh (Author) / Bakkaloglu, Bertan (Thesis advisor) / Garrity, Douglas (Committee member) / Kitchen, Jennifer (Committee member) / Arizona State University (Publisher)
Created2017
Description
The current study combines field study, survey study, and public financial reports, and conducts an in-depths comprehensive study of the cost of the global tire industry. By comparing the price and the total cost structure of standardized tire products, we investigate Chinese tire industry’s global competitiveness, especially in light of China’s fast increasing labor cost. By constructing a comprehensive cost index (CCI), this dissertation estimates the evolution and forecasts the trend of global tire industry’s cost structure. Based on our empirical analysis, we provide various recommendations for Chinese tire manufacturers, other manufacturing industries, and foreign trade policy makers.
ContributorsZhang, Ning (Author) / Zhu, Ning (Thesis advisor) / Shen, Wei (Thesis advisor) / Chen, Hong (Committee member) / Arizona State University (Publisher)
Created2015