No abstract

This paper uses the data of the public company from 2013 to 2015 to explore the relationship between executives' overconfidence and overinvestment when the company's financing ability is different. Unlike previous studies, the result of this study shows that overconfidence may curb overinvestment when the company's financing capacity is poor. It is when the financing capacity is strong that overconfidence will exacerbate overinvestment. A lot of studies show that overconfident executives increase overinvestment because of underestimation of risk, and our study gives a different view.

The current study mainly researches the problem of leader-follower based formation cooperative maintenance of fixed-wing UAV. First, the fixed-wing UAV formation with the leader-follower structure is used as the research object, and the flight dynamics model is established; the formation synergic control law is designed for the follower and the leader in the formation, especially the follower’s control law is improved to realize the state tracking control of the follower by controlling the speed and roll Angle of UAV; as stated by the master-slave formation, the distributed topology is introduced to realize the information interaction between adjacent UAVs, and on this basis, a collision avoidance strategy has been added to prevent drones from colliding with each other in the formation. Finally, the formation control algorithm and collision avoidance strategy are simulated through data simulation, and the results prove that the UAV formation can effectively complete the formation task and avoid collisions within the formation.