军民融合技术协同创新行为分析

以军工企业和民用企业为研究对象,利用演化博弈模型研究军民融合协同行为的动态演化过程,分析双方在有限理性条件下的互动机理与策略选择,探寻支配双方协同创新的制约因素及影响机理。在此基础上,通过政府激励与契约惩处情景的设定,引入约束体系,构建奖惩机制下军民融合协同博弈理论模型,确定最优发展策略（协同创新,协同创新）状态稳定时奖励金与惩罚金的范围,对于构建军民融合协同创新体系具有一定参考价值和现实指导意义。     

Why Greater Cash Holdings and Short-Term Debt Simultaneously Persist? The Case of Transition Economy

This study observes and explores a puzzle in Chinese firms whereby both cash holdings and short-term debt simultaneously account for more than 20% of total assets for at least two consecutive years over the sample period. This phenomenon conflicts with the principle of corporate value maximization, and is not clearly explained by the classical theories in corporate finance. Based on the implications in the extant literature and discussions of institutional constraints of the transition economy in China, this paper develops four hypotheses that are involved with agency conflicts between the largest shareholders and creditors and the formation of this puzzling financial structure. The empirical analyses suggest that the largest shareholders with tunneling motives seek to hold more cash to serve their private interests and/or the consequent operational deficit of the listed corporations. To the ends, these corporations tend to manage the timing of short term debt financing to increase cash reserves temporarily at the end of year. Essentially, greater cash holdings on the balance sheet of these corporations related with the puzzle become a misleading signal for potential creditors, possibly contributing to the refinancing of short-term debt of these listed firms for the following year. Hence, the puzzling financial structure is connected with the timing of debt financing and adverse selection of creditors. This study enriches the stream of literature on cash holdings and debt maturity, and provides new evidence on the impact of agency problems of the largest shareholders on the association between cash holdings and debt maturity in the context of a transition economy.     

Does Twitter chatter matter? Online reviews and box office revenues

ABSTRACT

With a rapid rise of text-based social media and online Word-of-Mouth (WOM) activity, millions of people express their thoughts and opinions on a variety of topics. Considering that nowadays WOM is a most influential source of information when guiding consumers’ choice and purchase decisions, in this paper we look at the relationship between Twitter messages (tweets) and cinema box office revenues. Using static and dynamic panel data regression approaches, we show that the frequency, sentiment and timing of tweets posted about a film are correlated to different extent with the movie’s box office revenues, with negative tweets being particularly damaging to the box office revenues. From a managerial perspective, this is important to know, such that film production companies and distributors can adjust their strategy accordingly.     

产业集聚、技术创新与环境污染——基于中国工业行业面板数据的实证分析

利用1999—2013年中国21个两位数工业行业的面板数据,利用面板数据向量自回归模型,实证分析了产业集聚、技术创新与环境污染的动态关系。结果表明:工业集聚程度的提高能够显著减少工业污染排放、促进技术创新;技术创新对环境污染排放具有显著的正向影响;环境污染排放具有循环累计因果效应;随着时间的推移,产业集聚对环境污染排放的抑制作用越来越明显,但长期内技术创新对环境污染波动的解释力将超越产业集聚。     

民族地区民生科技需求意愿及影响因素

正确引导民族地区民众民生科技需求意愿,对提高民族地区科技配置水平、加速民族地区发展具有重要意义。以新疆为例,利用调查问卷数据构建Logit实证分析模型,发现民族地区民生科技需求意愿及影响因素不仅与非民族地区存在较大差异,而且民族地区城乡间异质性也较为明显。研究结果可为民族地区制定适宜的民生科技推广政策提供经验支撑。     

媒体语气会影响股票收益吗？——基于互联网媒体的经验证据

随着信息技术的迅速发展和广泛普及,互联网媒体已深刻改变了信息的传播方式和传播速度。以2014年~2015年期间,51家国内主流互联网媒体关于A股上市公司的新闻报道数据为样本,运用计算机信息抽取和自然语言处理技术,将媒体新闻划分为正面、中性和负面报道,考察媒体语气对股票收益率的影响。研究发现,媒体正面报道越多的上市公司,其股票收益率更高;对于媒体报道数量多、涉及概念板块数量多的股票,上述结果更显著。进一步研究发现,媒体语气与企业绩效存在显著的正相关关系,即媒体正面报道越多,企业未来的绩效更好,表明互联网媒体向投资者传递了有价值相关的信息,但是投资者在短期内对媒体语气反应不足,使得投资组合的收益率呈现漂移现象。本文的研究结论为媒体的信息效应假说提供了进一步的经验证据。     

Effect of Parental Migration on Children's Health in Rural China

Using 2003–2006 RCRE (Research Center for Rural Economy) panel data, we estimate the effect of parental migration on the health of children left behind, with a difference‐in‐differences and propensity score matching combined model. On average we do not find any significant effect on children's health; however, the effect varies among different groups. Children's health may improve as a result of parental migration in families with lower income in the base year and families with higher‐income growth rates. Furthermore, children's health may deteriorate with maternal migration but improve with longer distance of paternal migration and longer time of paternal migration. We argue that parental migration affects children's health through complex mechanisms: income increase may have a positive impact while decreased parental care may have a negative effect. The two effects seem to offset each other in rural China.     

Information interaction capabilities: conceptualisation and instrument development

The twenty-first century has seen the rise of a new wave of technological change and industrial revolution. The next-generation Information Technology (IT) is radically shifting the core competence of corporation, meaning of value creation, and sources of a competitive advantage. In this situation, it is imperative for firms to build a new core competence. Based on the resource-based theory, this paper describes the competence of firms in the information interaction area, frames the concept and classification systems of information interaction capabilities (IICs), develops the scale of IICs, and tests the relationship between IICs and competitive advantages using empirical data in China. In short, the paper identifies that IICs are an important competence in the environment of the next-generation IT. Conceptualising IICs provides a foundation for bridging information interaction and strategy research. IICs provide a holistic approach to building the new core competence and achieving competitive advantages.     

基于权利分布风险测度的工程建设重大突发事件大群体应急决策方法

针对大型工程项目突发事件应急决策参与者权利分布导致的风险,提出了一种大群体风险应急决策方法。首先,利用信息熵理论,提出了一种测量大群体决策风险的测度模型;其次,对参与决策的大群体在决策过程中由于权利分布引起的风险进行了定量计算;然后,利用风险大小确定最终偏好信息的集结结果,对应急方案进行排序选优。最后,通过工程项目建设中仓库爆炸突发事件案例分析,验证了该方法的有效性。     

技术权力、组织间信任影响领导行为的跨案例研究

在技术创新网络中,非对称的技术权力和不同程度的组织间信任引致了核心企业对合作企业采取不同领导行为。从心理定位视角出发,基于技术权力和组织间信任两个变量提出核心企业的4种领导行为——技术锁定、技术防御、技术扶持与技术标准,通过跨案例研究,分析论证了这4种领导行为,并对合作过程中核心企业的领导行为进行了科学解释,以帮助合作企业科学预测领导行为,进而提高运行绩效和网络地位。