Environmental Regulation and Enterprise Innovation: A Review

The impact of environmental regulation on enterprise innovation is closely related to the competitiveness of the enterprise and sustainable development of the regional economy, but existing research does not provide a consistent view. This paper summarizes the impacts of environmental regulation on enterprise innovation from the perspectives of technological innovation, product innovation, system innovation and ecological innovation. We find that the impacts of environmental regulation on enterprise innovation behaviour are complex, and that the impacts can be reflected together by the four aspects above and even by their interaction. Moreover, the impacts are not limited to the creation of new technologies, products, and systems but also include their adoption and application. In particular, whether the Porter hypothesis is true and which versions of the Porter hypothesis environmental regulation causes in enterprise innovation depend on enterprise characteristics, means of environmental regulation, and enterprises' strategic behaviours in an enterprise ecosystem. Finally, we propose five potential research directions: quantifying the degree of enterprise innovation caused by environmental regulation, the impacts of environmental regulation on sustainable economic development from an enterprise ecosystem perspective, the impacts of enterprise innovation on environmental regulation, the role of enterprise initiative in the relationship between environmental regulation and enterprise innovation, and social security issues and the integration of eliminated enterprises resulting from environmental regulation.     

高技术产业技术创新效率提升的多元模式——创新环境视角

创新环境可为高技术产业技术创新提供支撑条件，从创新环境视角出发厘清创新效率提升模式对高技术产业创新发展意义重大。应用CCR-DEA模型测度29个省市2012-2016年的技术创新效率，利用GMDH算法识别出影响创新效率的关键环境因素，并运用fsQCA方法探究关键环境因素组合与创新效率关系。结果表明：我国高技术产业技术创新效率均值偏低，超过半数省市的创新效率值未达到全国平均水平；经济基础、市场需求、对外开放度、行业研发基础、自主创新倾向、政府创新干预、知识产权保护是影响创新效率的关键环境因素；任何关键环境因素均不能单独引致创新效率提升，4项关键环境因素组合是提升创新效率的充分条件，由此形成效率提升的4种模式，其中，需求驱动型、交流碰撞型和主体带动型适用于经济基础偏弱地区，增质减束型模式适用于经济基础较好地区。     

高校专利可转化性与其文献计量特征相关性研究

如何从海量高校专利中识别出具备可转化性的潜力专利，对于科技管理与评价部门而言，是一项具有应用价值的研究课题。高校不具备生产能力，其专利转化的主要途径是将专利权转让或许可给企业。研究已经成功转让或许可的高校专利文献计量特征，并与未能转让或许可的高校专利文献计量特征作对比，运用多元统计学的差异分析和相关分析方法，分析高校专利可转化性与其文献计量特征之间的相关性。以S大学产出的16491项专利为研究样本，发现高校专利可转化性与其文献计量特征之间具有一系列相关关系，可为识别可转化的高校专利提供来自文献计量学视角的参考依据。     

Zombie Firms and Debt Accumulation: A Theoretical Framework and Chinese Experience

In recent years, as China has grappled with rising debt and broad economic restructure, the prevalence of zombie firms has become a critical problem. This paper provides a theoretical framework illustrating the rationale behind the occurrence of zombie firms from the perspective of banks. We develop differential equations to model a bank's expectation and the ex ante estimate that underlies its decision to refinance an insolvent borrower. An optimistic expectation is essential in zombie lending and is intrinsic to the countercyclical pattern of zombie firms. Our model also predicts that debt can build up to an unsustainable level if recovery of profitability is sluggish or the initial debt burden is too high. Examining the Chinese experience of zombie firms over 2007–2017, this paper highlights two findings. First, the share of zombie firms among Shanghai and Shenzhen A‐share listed companies demonstrates a countercyclical pattern. Second, the positive correlation between zombie share and debt accumulation across manufacturing sectors sheds light on the link between zombie firms and the rising corporate debt in China. To deal with the “zombie” problem, the government should carefully weigh its policies to avoid further distortions because the occurrence of zombie firms may be inevitable and impossible to eliminate.     

The investment decision with technological and market uncertainties

This paper examines how technological uncertainty affects current investment; specifically, what is the impact on a firm’s investment in an existing technology when an improved technology might arrive in the future. The firm can invest in the current technology and upgrade to the new technology after its arrival (sequential investing), or it can bypass the current technology and invest directly in the new technology (leapfrogging). The main result is that, in the presence of market risk, future technological uncertainty has a non-monotonic effect on investment, with the investment trigger being a U-shaped function of the expected speed of arrival of the new technology. In this U-shaped relationship, the investment trigger starts rising later if the new technology is more attractive and also when volatility and interest rate are high and growth rate low; thus, technological uncertainty is more likely to have a positive effect on investment under these conditions. Finally, we apply the model to the sequential versus leapfrog investment decision, and find that leapfrogging becomes more attractive relative to sequential investment when interest rate and new technology earnings enhancement are higher, and when market volatility, growth rate and new technology investment cost are lower.     

湖南油菜春季涝渍灾变等级指标与灾损评估

［目的］以湖南省油菜春季涝渍灾害为例，创建基于涝渍过程的逐日灾变等级指标、灾害影响量化评价与灾损量化评估模型，探索区域农作物涝渍灾变动态监测评估的天气学方法。［方法］基于湖南省油菜春季涝渍灾变过程解析，以过程灾变判别指标为基础，采用基于假设的滚动模拟寻优、实际灾情验证与个例分析等方法，厘定轻度涝渍与重度涝渍灾变的最佳阈值，构建油菜春季涝渍过程逐日灾变等级指标； 利用多元回归等方法，构建对应的灾害影响量化评价模型和减产率量化评估模型； 基于个例分析，验证指标及模型结果与历史灾情记录的吻合情况。［结果］湖南省轻度与重度涝渍灾变的最佳阈值为144； 不同县涝渍灾变等级阈值存在一定差异，平均受灾频率越低，洪涝脆弱性越低，防灾减灾能力越强，阈值越高； 基于受灾天数和重灾天数的灾害影响指数都表现为结荚期涝渍对油菜减产率影响更大，且两者的空间分布形势都与各县年平均减产率的空间分布形势基本一致； 个例中，基于指标的全省重灾站数百分比的时间演变与实际灾情记录一致，减产率量化评估模型的结果也与实际灾损相匹配。［结论］油菜涝渍灾变等级指标、灾害影响指数及减产率量化评估模型，实现了对涝渍灾变过程等级的动态监测、影响与灾损的量化评估，为基于天气学方法开展区域油菜涝渍灾变等级的动态监测提供了理论支持和方法支撑，同时为历史灾情资料的补充和量化及灾情记录的再分析提供了可行的思路。     

楼宇二次供热管网混水供热系统的优选

混水供热系统是供热技术革新中节能、节电较有效的技术之一，选取某综合型住宅小区，对混水供热系统进行研究，并与传统的供热方式相比较，以论证混水供热系统的优势。     

基金经理更换、股票联动与股票价格

基金经理更换打破了基金共同持股投资组合中股票的关联性,降低了股票收益率相关性,进而影响了股票价格。本文基于基金共同持股和基金经理更换构建了对冲投资组合,获得0.1%的日超额收益率。基金投资组合中股票收益率相关性能够解释这种超额收益率,本文发现基金更换经理后,新基金经理重建投资组合,打破了原投资组合中股票间的关联,股票收益率相关性减弱,基金共同持股程度高的股票价格受到了更大影响。基金的被动流动性冲击不能解释本文的发现。本文的研究表明基金经理变更等基金管理行为通过股票收益率相关性对股票价格产生了重要影响。     

农村土地流转与农民土地权益保护的法律思考——论农民再就业的法律保护

再就业和失业是一对相关联的概念,只要有失业问题,就必然有再就业问题。农民进城务工便是农民再就业的一个十分重要的主要渠道。实现再就业的农民面临的问题仍然十分突出。农民再就业问题严重的原因很多,但主要是法律缺位。加强农民再就业的法律保护首先要加强农民再就业的立法工作,其次要加强执法工作,再次要提高法律意识。     

在地理教学中培养学生的创新精神和实践能力

作为地理学科的教学,从教学方法、教学思想必须有一个全新的有利于人才素质提高的新理念。实施以培养创新精神和实践能力为重点的素质教育,目的在于改变学生传统的学习方式,为学生构建开放的学习环境,提供多渠道获取知识,并用理论去指导学生的社会实践,促进他们形成积极的学习态度和良好的学习策略。