Based on the multi-agent model, an artificial stock market with four types of traders is constructed. On this basis, this paper focuses on comparing the effects of liquidation behavior on market liquidity, volatility, price discovery efficiency and long memory of absolute returns when the institutional trader adopts equal-order strategy, Volume Weighted Average Price (VWAP) strategy and Implementation Shortfall (IS) strategy respectively. The results show the following: (1) the artificial stock market based on multi-agent model can reproduce the stylized facts of real stock market well; (2) among these three algorithmic trading strategies, IS strategy causes the longest liquidation time and the lowest liquidation cost; (3) the liquidation behavior of institutional trader will significantly reduce market liquidity, price discovery efficiency and long memory of absolute returns, and increase market volatility; (4) in comparison, IS strategy has the least impact on market liquidity, volatility and price discovery efficiency, while VWAP strategy has the least impact on long memory of absolute returns.
Based on the voltammetric behaviour of a series of methyl-substituted benzenes in 1M LiPF6/EC-DMC electrolyte, xylene was selected and tested as an electrolyte additive for overcharge protection of Li-ion batteries. From the overcharge curves, CV behaviour and SEM observations of the cells in the presence of xylene, it was found that the additive can polymerize at the overcharged voltage to form a dense layer of isolating polymer film at the cathode surface, which blocks off further oxidation of the electroactive material and electrolyte and, therefore, improves the overcharge tolerance of the Li-ion battery. In addition, the xylene additive has shown only a slight influence on the cycling behaviour. 相似文献