Comparative Study on Venture Capital among U.S.A., Japan and China

This essay, through comparing venture capital in China＇s modernization with U.S.A., Japan, summarizes the different characteristics of venture capital of the United States and Japan, and thinks that China＇s present modernization, as a flag of developing countries, has already entered middle period of industrialization, according to the experience of U.S.A., Japan and reality of China. The technological progress mode has already been changed from technology import to technological innovation stage at this time. In order to encourage innovations, we must develop venture capital in a more effective manner. The national conditions have determined the technology import of China, which must start with a high points, this is the most important condition of target to choose. The venture capital of China in system transitional period should use U.S.A.＇s experience for reference even more on the capital source to pay close attention to the capital sources of the government and bank. Once the government guides and starts the market, the folk capital will show the natural instinct of the capital automatically Risk investment is the embodiment capitalized personality spirit, in order to dispose such ambitious culture. We need the reform of the system as well as dispose risk investor＇s stratum at present.     

An Empirical Analysis of the Growth of IT Enterprises in China

The paper makes an empirical analysis on the main factors affecting IT corporate growth-human resource and R＆D. By using data of China＇s listed IT companies, we focus on the relationship among corporate value （net return of equity, ROE） or development of COl＇porate value （Tobin＇s Q） and manager＇s salary, R＆D fee, R＆D employee etc. The conclusion shows that development of corporate value （Tobin＇s Q） has correlativity positive with the plurality of board chairman and general manager, independent directors＇ proportion, R＆D fee, and R＆D employees while it is non-obvious positive with salary of superior managers, holding stocks of general manager, capital investment, and negative with corporate scale. The conclusion is accordant with the development status of Chinese IT corporate.     

Empirical Examination of the Effects of Competition and Regulation on Public Universities and Colleges＇ Performance in China

Competition and regulation are indispensable entities for a university＇s improved performance. Using university rating as an index to performance, empirical analyses with the data from 145 public universities and colleges in China show that increased competition in the education service market is associated with higher university＇s （college＇s） performance. And increased competition in R＆D may make a quadratic effect on university＇s （college＇s） performance. University＇s performance improves when a university is directed as a branch of the central government because they enjoy some degree of management flexibility more than the local government controlled ones. A major implication of the study is the need to reform competition and regulation for improving universities and colleges＇ operating performance in China.     

Research on the Sustainable Development of Chinese Small and Medium-Sized Enterprises - Construction and Application of R＆D Strategic Alliance

R ＆D strategic alliance is important for enterprises＇ sustainable development and it is a worth research for us. This paper firstly analyzes the condition and situation of tho small and medium-sized enterprises＇ strategic alliance. Then it points out that the small and medium-sized enterprises should choose a sttieable alliance organization, ally themselves with big enterprises, strive for the support of the government, and develop their technology through technology unions. Finally, it suggests that the government should create better innovation environment for R＆D strategic, alliance. A new way is also put forward for the applicotion and foundation of the small and medium-sized enterprises ＇ R＆D ,strategic alliance in China. It is also helpful for the sustainable development of small and medium-sized enterprises.     

Entrepreneurship corporate social responsibility and flexible innovation networks： On the interaction between TNCs＇ R＆D activities and local development

Entrepreneurship corporate social responsibility is concerned with obligations that should be undertaken by an enterprise or ＂enterprise citizen＂ to the society including interrelationship between enterprise and some related interest dependents. And it is a sense of value, discipline and respect to the people, community and environment-related policies of the enterprise. Obviously, the core of the notion refers to a commitment of the enterprise in order to improve living standard of related interest counterparts. Nowadays, entrepreneurship corporate social responsibility has been not only an ethical call, but also an institutional constraint. The consensus is that in operation process an enterprise should take into account of its economic, social and ethical effects on consumers, staffs, shareholders, communities, local governments and environment and make a better prospect to them. Based on this point of view, by field work and questionnaire method, this paper discusses specifically the interaction between TNCs＇ R＆D activities and local development of the Pudong New Area, a China＇s largest special economic zone in Shanghai to explore dynamics of the TNCs＇ R＆D activities, growth of the local economy and their roles in promoting flexible innovation networks for sustainable futures. This involves： a. notion of the entrepreneurship corporate social responsibility; b. current state and trend of TNCs＇ R＆D activities; c. mode and linkage tightness between TNCs＇ R＆D activities and the local economy; d. main problems of the TNCs＇ R＆D activities in Pudong; e. the context of flexible innovation networks; and f. manner and ways in creation of flexible innovation networks.     

The Game between FDI and the Beneficial Policies of Host Country

Foreign direct investment （FDI） has great function to the growth of the economy in various countries. The beneficial policies of the foreign capitals are the main means to various countries to absorb FDI. Utilizing this means appropriately and designing beneficial policies, which can make the host country get the maximized revenue of utilizing FDI, are the key to absorb FDI effectively. In this paper, we set up a game model between the level of the host country＇s beneficial policies and the scale of FDI, and analyze what the key factors that influence the level of host country＇s beneficial policies are and how to decide the level of beneficial policies according to these key factors.     

The Impact of Automation in Service Industries＂ An Empirical Study

Academic research into service industries has explored the characteristics of interpersonal interactions between employees and customers, but there are few studies addressing the issues of consumer interaction with technology and its influence on the objectives and results of the operations subsystem. This study examines the elements of the service encounter, and the changes automation originates in them and their relationships. The paper also examines changes in the elements and results of the operations subsystem, as a result of automation. We propose that the customer＇s relationship with employees and/or technology and automated systems for the service impact the objectives and results of the operations subsystem, all of which could have an effect on the company＇s competitive position. The empirical study is focused on four industries, namely, toll motorways, car parks, carwash and video/DVD rental companies, in an attempt to identify objectives that lead companies to implement automated processes affecting the customer＇s relationship with the company. The hypotheses generated are contrasted with a structural equation modelling. The results confirm that the customer＇s relationship with employees and automated systems for the service impacts the objectives and results of the operations subsystem. Also, the results show how automation can enable firms simultaneously to achieve acceptable levels of flexibility and productivity, two dimensions that have traditionally been considered opposites.     

Quest beyond the Middle Income Status

Over a period of three decades from 1980 to 2010, China, the world＇s most populous country with one-fifth of the global population, managed to grow its real GDP by almost ten percent per annum, or expand the size of its economy by more than seventeen fold. The persistent hyper economic growth has lifted hundreds of millions of people from poverty and developed the country from one of the world＇s poorest economies to a global economic powerhouse and manufacturing base. The prolonged economic growth with such speed and scale is unprecedented in human history.     

Human rights and political and economic instability

The purpose of this paper is to use cross country regression analysis on a large set of countries from around the world for the year 2007 to test the hypothesis that greater instability, political or economic leads to reduced levels of human rights. The results of the paper＇s econometric analysis tend to support the hypothesis that increased levels of either political instability or economic instability are detrimental to human rights within countries.     

The Latvian Road to the Euro

The article presents the situation in Latvia ahead of the country＇s adoption of the euro by offering an analysis of the extent to which the country is prepared for the move and of general economic difficulties as well as indicating possible threats to its future development. The article talks about difficulties caused by the great unemployment connected with the specific economy of the country, political problems of the post-socialistic multinational country and steps done towards the fulfilling of all the convergence criteria. Its aim is to present the moments around the change of the currency which is done by the material＇s analysis because there are not enough statistical data for the mathematical analysis. It can be concluded that the adoption of the euro will probably be beneficial in the long run for Latvia＇s economy. The conclusions may be done by comparison with the situation of Estonia and its foreign trade with Poland which is shown in the article because there are a lot of similarities between the two Baltic countries.     

The Effects of Technology Changes on Sectoral Trade Patterns*

We develop a model in which sectoral trade patterns depend on both the technology common to all sectors and the technologies specific to each sector. Changes in the common technology level affect sectoral trade patterns through their impact on intertemporal optimization behavior, while changes in the sector‐specific technology levels affect sectoral trade patterns by influencing comparative advantage. The model shows: (1) unexpected increases in the common technology level worsen sectoral trade balances, but expected increases in the common technology level improve them; and (2) given other countries’ sectoral technology levels, an increase in a sector‐specific technology level relative to other sectors improves sectoral trade balances through its operation on comparative advantage. Using Japanese data, the empirical results reported in this paper support the model’s predictions.     

中国OFDI逆向技术溢出效应 的影响因素研究* ——基于国别面板数据的非线性门槛技术回归

本文首先对对外直接投资逆向技术溢出效应的机理进行了分析,然后以2003-2013年中国对外直接投资的13个主要发达国家的数据为样本,考察了中国对外直接投资逆向技术溢出效应的影响因素。本文的实证结果发现,中国与东道国之间的技术差距、东道国研发（R&D）支出、全要素生产率、人力资本、技术创新能力、制度环境是对外直接投资逆向技术溢出效应的正相关因素。同时,本文以技术差距作为门槛变量进行门槛效应检验,结果表明,技术差距存在单一门槛值,当中国与东道国之间技术差距较大时,技术差距对逆向技术溢出产生了正向影响;当技术差距缩小后,正相关关系仍然存在,但影响程度有所下降。     

Technology sourcing versus technology exploitation: an analysis of US foreign direct investment flows

The traditional paradigm of foreign direct investment (FDI) suggests that FDI is undertaken principally to exploit some firm-specific advantage in a foreign country which provides a locational advantage to the investor. However, recent theoretical work suggests a model of FDI in which the motivation is not to exploit existing technological advantages in a foreign country, but to access such technology and transfer it from the host economy to the investing multinational corporation via spillover effects. This paper tests the technology sourcing versus technology exploiting hypotheses for a panel of sectoral FDI flows between the United States and major OECD nations over a 15 year period. The research makes use of Patel and Vega’s (Research Policy, 28, 145–55, 1999) taxonomy of sectors which are likely a priori to exhibit technology sourcing and exploiting behaviour respectively. While there is evidence that FDI flows into the United States are attracted to R&D intensive sectors, very little support is found for the technology sourcing hypothesis either for inward or outward FDI flows. The results suggest that, in aggregate, firm-specific ‘ownership’ effects remain powerful determinants of FDI flows.     

区域科技投入与经济增长关系的实证分析

构建灰色关联度模型实证分析发现:科技经费投入、科技活动人员投入对产业经济增长有显著作用。进行区域科技投入与产业经济关系聚类分析可把我国分为三类典型区域。对于第一类地区,科技经费投入,尤其是R&D经费对第三产业的投入效率更高,在该类地区应加大科技经费的投入;对于第三类地区,R&D人员全时当量对第一产业的投入效率更高,在该类地区应加大科技活动人员的投入。     

外商研发投资对我国区域创新体系的影响——基于1999年～2008年省际面板数据的实证检验

笔者采用1999年～ 2008年中国大陆29个省市自治区的面板数据,实证检验了外商研发投资对区域创新体系的影响.结果表明:外商研发投资对我国区域创新体系中的知识获取能力、企业技术创新、技术创新环境和创新绩效均具有显著的正效应,对知识创造能力的影响不显著.其中,对技术创新环境和知识获取能力的正效应强于国内企业研发投资,对企业技术创新能力和创新绩效的正效应弱于国内企业研发投资.     

Technology for Sale

Free trade in commodities typically leads to gains for all participating countries. These gains can be augmented by trade in productive factors if returns differ between countries. But such trade would not exhaust potential gains if technological knowledge, not embedded in productive factors, differs between countries. Using a Ricardian model this paper shows how a country which has an absolute advantage based on technology in both commodities in a two-commodity world can gain by selling, giving, or even bribing the other country into using the advanced technology in the other country's export sector. If each country has an absolute advantage in the single commodity it produces, an exchange of technology for the other commodity can nonetheless lead to extra gains for both countries.     

International trade and technical progress: the role of capital good imports in Portugal>

This paper develops an empirical analysis of the relationship between sectoral openness to capital good imports and technological sophistication. Input-output data from Portugal are used to demonstrate a strong relation between capital imports and sectoral technological levels as measured by vertically integrated labour coefficients. Both regression and non-parametric analyses are used. Such a relationship demonstrates the necessity of breaking out of the long-held focus on one-time exchange gains by trade theorists. It is argued that productivity gains from trade resulting from transfers of technology are primary gains of great importance and must be incorporated into theoretical work on trade. The paper also demonstrates a strong connection between a sector's capital imports and the technical training of the workforce of the sector. This suggests a relation between a sector's level of technology and its ability to make further advances through capital imports embodying advanced foreign technology. Sectors (countries) need technically trained workers in order to achieve a successful transfer. Interestingly, it is found that while Portugal clearly utilized trade with its more developed trading partners to augment its technology, this was not enough to avoid a technological divergence from its more developed neighbours. Several reasons for this are posited.     

全球价值链嵌入、技术路径选择与制造业高质量发展

基于全球价值链嵌入视角，探究后发国家制造业高质量发展的技术路径选择。通过分析梳理全球价值链嵌入对技术路径选择的影响及作用机理，明确后发国家制造业适宜技术路径选择依据。在此基础上，通过匹配WIOT数据和中国制造业行业数据，对中国制造业高质量发展的适宜技术路径进行实证检验。研究表明，参与全球价值链分工在为后发国家提供技术溢出机会的同时，通过低端锁定和竞争效应倒逼后发国家制造业在技术路径选择中加大自主研发投入；随着全球价值链嵌入程度加深，自主研发对制造业高质量发展的积极作用正逐渐显现；由于考察期内自身要素禀赋不足，引进模仿技术路径相比于自主研发对制造业生产效率提升更有利。在新型国际分工与贸易背景下，及时调整技术路径，加大研发投入，对推动我国制造业向价值链高端攀升进而实现高质量发展具有重要意义。     

技术进步、优势转换与中国FDI的发展

技术进步、全球化的深入发展改变了发展中国家FDI的相对技术优势,自动化控制技术的发展使小规模定制成为一种时尚,大大降低了规模经济的门槛,使发展中国家原有的小规模技术优势不断弱化,全球化导致的全球消费文化的趋同也大大削弱了发展中国家固有的技术地方化优势;但技术进步导致的产业链拉长,各国产业结构差异的扩大却进一步提升了发展中国家的边际产业比较优势和技术创新升级优势;技术与分工的复杂化,基于价值链和竞合原则的现代分工模式也使逆向技术整合,新产业的蛙跳成为可能,也使所有权优势,内部化优势和区位优势成为自足的对外直接投资条件,进一步增加了发展中国家对外直接投资的机会。只有充分认识到技术进步对发展中国家相对技术优势带来的影响,我们才能抓住技术进步带来的机遇,促进中国跨国企业FDI的更大发展。     

我国R&D投入模式的合理性判断

通过数据分析,可以判断我国目前正处于工业化发展的第二阶段(或中级阶段),根据国际经验,这一阶段的R&D投入大多数国家都是采用企业与政府双主导型的模式,而我国目前企业的R&D投入占全社会R&D投入的比例高达70%以上,是典型的企业主导模式。对于这一模式的合理性,有不同的观点,有人认为我国应该提高政府的R&D投入比例,遵循双主导模式,也有人认为,由于时代变迁,后发国家的运行轨迹可能不同于先发国家,比如后发国家日本,在工业化第二阶段就是采用企业主导模式的,我们可以借鉴日本的经验。我们认为,不管是先发国家的模式还是后发国家的模式,我们都不可以直接套用其标准,而是应该具体分析我国目前模式的成因以及对R&D活动造成的影响,才能判断其合理性,并找到下一步改革的方向。