瓦楞纸板配纸设计流程可靠性研究

本论文依据瓦楞纸板配纸设计流程,结合我国新修订的四项国家标准（GB/T 6543—2008、GB/T 6544—2008、GB/T 13023—2008、GB/T 13024—2003）中的相关参数及瓦楞纸板边压强度计算公式,对所研究的瓦楞纸板配纸设计流程可靠性进行验证。实验结果与计算结果吻合良好,表明瓦楞纸板配纸设计流程具有一定的可靠性,可为瓦楞纸板配纸设计提供参考依据。     

合资铁路深化混合所有制改革研究

合资铁路是我国铁路行业实施混合所有制改革的先驱者,由于不断增大的投资需求,吸纳社会资本不足、财务风险高、经营机制落后等问题,合资铁路进一步深化混合所有制改革突破发展瓶颈。从合资铁路投资政策现状出发,阐述深化合资铁路混合所有制改革的问题及难点。在此基础上,重点分析合资铁路混合所有制改革,提出深化合资铁路混改基本原则,以机构投资者、一般法人资本、员工持股计划、政府引导基金和境外资本5类社会资本为主,分析潜在社会资本匹配度,加大力度吸引社会资本参与合资铁路投资建设。     

基于倾向得分匹配法分析冬小麦粮草兼用对农户农业收入的影响

[目的]冬小麦粮草兼用在保证籽粒稳产,缓解家畜饲草短缺方面具有重要的作用,但是否具有较好的经济效益仍然具有争论,缺乏准确数据支撑。[方法]文章基于甘肃省庆阳市323个农户的调查数据,利用倾向得分匹配(PSM)方法,研究了冬小麦粮草兼用对农户农业收入的影响,以期能为冬小麦粮草兼用的农业收入效应提供实证支撑。[结果](1)冬小麦粮草兼用的确存在明显的农业收入效应。(2)倾向得分匹配法在纠正样本异质性偏差后,估计出冬小麦粮草兼用对农户农业收入的效应为12.8%。而使用传统的OLS参数估计方法实际上把冬小麦粮草兼用对农户农业收入的影响低估了约6.4%。这一结论这为相关部门推广冬小麦粮草兼用技术提供了有力的佐证。(3)冬小麦种植面积,冬小麦产量,养殖数量和玉米种植面积对农户农业收入有显著的正向影响。[结论]基于此,从加快农村土地的流转,扩大农户家庭土地经营规模,引导农户标准化、规模化养殖,重视冬小麦粮草兼用生产模式在陇东黄土高原的推广及应用等方面提出增加当地农户农业收入的政策建议。     

The real effects of financial constraints: Evidence from a financial crisis

We survey 1,050 Chief Financial Officers (CFOs) in the U.S., Europe, and Asia to directly assess whether their firms are credit constrained during the global financial crisis of 2008. We study whether corporate spending plans differ conditional on this survey-based measure of financial constraint. Our evidence indicates that constrained firms planned deeper cuts in tech spending, employment, and capital spending. Constrained firms also burned through more cash, drew more heavily on lines of credit for fear banks would restrict access in the future, and sold more assets to fund their operations. We also find that the inability to borrow externally caused many firms to bypass attractive investment opportunities, with 86% of constrained U.S. CFOs saying their investment in attractive projects was restricted during the credit crisis of 2008. More than half of the respondents said they canceled or postponed their planned investments. Our results also hold in Europe and Asia, and in many cases are stronger in those economies. Our analysis adds to the portfolio of approaches and knowledge about the impact of credit constraints on real firm behavior.     

The Economics of Sustainable Land Management Practices in the Ethiopian Highlands

This article uses data from household‐ and plot‐level surveys conducted in the highlands of the Tigray and Amhara regions of Ethiopia. We examine the contribution of sustainable land management (SLM) practices to net value of agricultural production in areas with low vs. high agricultural potential. A combination of parametric and non‐parametric estimation techniques is used to check result robustness. Both techniques consistently predict that minimum tillage (MT) is superior to commercial fertilisers (CFs), as are farmers’ traditional practices (FTPs) without CFs, in enhancing crop productivity in the low agricultural potential areas. In the high agricultural potential areas, in contrast, use of CFs is superior to both MT and FTPs without CFs. The results are found to be insensitive to hidden bias. Our findings imply a need for careful agro‐ecological targeting when developing, promoting and scaling up SLM practices.     

税收优惠对企业研发投入的政策效应研究

研究目标：税收优惠对企业研发投入的政策效应。研究方法：以2015年深圳证券交易所上市公司（A股主板）的面板数据为基础,采用倾向得分匹配法（PSM）,并对比传统OLS回归方法,估计不同税收优惠方式对企业研发投入的政策效应。研究发现：税收优惠政策对企业研发投入量及企业研发投入强度具有激励作用,但研发费用加计扣除、研发费用加计扣除与税率优惠并用、税率优惠三种优惠方式,激励效应依次递减。研究创新：采用倾向得分法,将未享受税收优惠的企业作为享受税收优惠企业的“反事实”结果,对比分析税收优惠政策对样本产生的“净效应”。研究价值：根据当前我国企业特征,优化研发投入税收优惠政策。     

International collaboration and innovation: Evidence from a leading Chinese multinational enterprise

This paper investigates the impact of international collaboration and its characteristics on the quality of the innovation of multinational enterprises (MNEs) in emerging markets. Using a unique dataset of 1428 international and comparable domestic collaboration projects over the 2010–2016 period, it finds that while international innovation collaborations are associated with high innovation quality, cultural distance has a negative effect on collaboration outcomes. Moreover, proximity to the focal firm's overseas R&D centres and the size of expenditure budgets play significant moderating roles in overcoming cultural barriers. Based on the RBV and dynamic capabilities theory, we investigate how firms from emerging markets can acquire these two crucial requisites for innovation. The characteristics of partners and intellectual property (IP) arrangements are also found to have a significant impact on the quality of innovations.     

商业模式创新与技术创新匹配性对后发企业绩效的影响——来自年报文本分析的实证研究

以2014—2019年沪深A股成长期上市公司作为后发企业代表，借助Word2Vec的文本分析方法，基于公司年度财务数据度量后发企业商业模式创新水平，实证研究后发企业追赶过程中商业模式创新、技术创新以及二者匹配性与企业绩效间的作用机理。结果发现：商业模式创新对后发企业绩效具有显著正向影响；技术创新对后发企业绩效具有显著正向影响；商业模式创新和技术创新的平衡性与后发企业绩效正相关；商业模式创新和技术创新的组合性与后发企业绩效正相关。结果表明，对于后发企业而言，商业模式创新与技术创新为互补关系，而非互替关系，二者间的匹配性对后发企业绩效提升具有增强型交互作用。