How do stock price indices absorb the COVID-19 pandemic shocks?

To assess the resiliency of stock price indices during the COVID-19 crisis, this study provides a distinctive perspective; that is, we evaluate the ability of stock price indices to absorb COVID-19 shocks. We construct the measures of absorptive intensity and duration to identify a stock price’s absorptive capacity. We then employ the Granger causality test and a topology network approach to investigate the interactions of absorptivity among stock price indices. Our results show that stock price absorptivity varies over time and across countries and industries. The US and the Brazil stock indices have relatively high absorptive intensity while short duration. The health care industry shows distinctive trend in absorptive intensity from the other industries. The intensity of the non-cyclical industries such as utilities and consumer staples is high, while the cyclical industries such as banking, real estate, and energy have lower absorptive intensity. Moreover, the utilities, consumer staples, and financials industries are the main resiliency transmitters.     

创新模式与知识产权保护对医药企业研发创新的影响:国际比较

不同创新模式下医药企业研发创新存在着较大的差距。本文探究了创新模式、知识产权保护及其交互作用对医药企业研发创新的影响。研究表明:(1)加强医药行业知识产权保护对整体医药企业研发创新具有显著的促进作用。(2)不同创新模式对医药企业研发创新的影响不同,英美创新模式与医药行业知识产权保护的交互作用对医药企业研发创新的促进效应依次大于欧洲大陆和中国。(3)英美创新模式下医药行业知识产权保护与医药企业研发人员强度的交互作用对医药企业研发创新的促进作用最大。据此,需要完善中国知识产权保护体系,推动中国创新模式转型,以发挥医药行业知识产权保护与创新模式的协调作用,并通过提升我国医药企业研发人员强度来增强创新活力。     

Identifying the effects of sanctions on the Iranian economy using newspaper coverage

This paper focuses on the identification and quantitative estimation of sanctions on the Iranian economy over the period 1989–2019. It provides a new time series approach and proposes a novel measure of sanctions intensity based on daily newspaper coverage. In absence of sanctions, Iran's average annual growth could have been around 4–5%, as compared to the 3% realized. Estimates of the proposed sanctions-augmented structural VAR show that sanctions significantly decrease oil export revenues and result in substantial depreciation of Iranian rial, followed by subsequent increases in inflation and falls in output growth. Keeping other shocks fixed, 2 years of sanctions can explain up to 60% of output growth forecast error variance, although a single quarter sanction shock proves to have quantitatively small effects.     

民用飞机飞行试验项目管理研究

对于民用飞机飞行试验的开展,我国尚处于起步和探索阶段。通过对多年的民机试飞规律进行研究,对试飞组织的项目管理进行总结和归纳,把项目管理的核心内容分解为架次管理、科目管理和飞机管理,同时创新性的提出"计划-实施-管理-计划"的闭环管理理论,为提高民用飞机飞行试验项目管理效率和组织实施能力铺垫理论基础。     

北京市城市土地利用强度空间结构研究

研究目的：剖析北京市城市土地利用强度的空间结构形态，揭示其特征及影响因素，检验和丰富城市经济学的空间结构理论。研究方法：利用1993 — 2006年北京市国有土地使用权出让数据，借助GIS分析工具，定性分析与定量分析相结合。研究结论：总体上北京市城市土利用强度空间结构与西方市场经济国家城市存在一定的一致性，呈现出符合级差地租理论的特征；但具体看，受多种因素的影响，远比城市空间结构理论模型预测的结果复杂，表现出鲜明的个性特征；除市场力量以外，人口政策、容积率控制和交通格局的影响最为重要。     

The Chinese outward foreign direct investment motives in ASEAN countries through export performance: The role of competitive intensity among Chinese smartphone manufacturers

This study aims to examine the impact of outward foreign direct investment (OFDI) objectives on the achievement of export performance under competitive intensity. We apply the diverse theoretical perspectives of the eclectic paradigm and institutional theory. Primary data were collected from 162 Chinese manufacturer–exporter companies. Specifically, this research shows that Chinese OFDI motives increase its export performance in ASEAN markets. Furthermore, we discover that competitive intensity moderates the relationship between strategic assets-seeking foreign direct investment (FDI) motive and export performance, but not the relationship between market-seeking FDI motive and export performance. Hence, this study presents a holistic assessment of Chinese smartphone manufacturers' export performance by accounting for the overlooked effect of firms seeking FDI motive through the moderating of competitive intensity.     

Reverse innovation and firm value in emerging markets: Evidence from China

Reverse innovation (RI) patents, which apply to intellectual property that is created in an emerging country but patented in a developed country, are better representatives of innovation value than domestic patents in emerging economies. We argue that RI patents contribute to firm value by proxying for the private value of innovation, generating product market value, and signalling firms’ capabilities. Using a sample of Chinese-listed companies, we find RI patents positively relate to firms’ short- and long-term market value. This effect is stronger for firms with high innovative intensity and managerial ability. We also explore the mechanisms behind the relationship between RI and firm value. We demonstrate that, in addition to the domestic patent functions of creating value and capturing innovation rent, RI patents can further leverage firm value by signalling firm quality to customers and investors in developed markets, a function that is unique to RI patents.     

碳达峰碳中和背景下广东省电力行业降碳路径研究

电是现代能源系统的中心，能源电力绿色低碳发展对实现碳达峰、碳中和目标至关重要。分别从碳排放总量、碳排放强度、单位供电平均二氧化碳排放量等方面对广东电力行业碳排放情况进行多角度剖析。在此基础上，研判碳达峰目标和碳中和愿景对电力行业发展提出的新要求。最后从优化电源结构，构建新型电力系统，构建电力科技自主创新体系，推动电力产业集聚发展，统筹推进电力交易、碳排放权交易、用能权交易市场建设等5个方面提出广东电力行业降碳路径，助力广东碳达峰目标和碳中和愿景的实现。     

Urban flight: A short-term phenomenon or long-term trend?

We investigate whether the urban flight from more to less dense locations identified by previous housing studies for the early COVID period is a temporary, pandemic-induced phenomenon, or long-term trend. We focus on the period of 2017–2022, 14,961 single-family home transactions from Southwestern Ontario, and three housing market metrics. Our results for sales price in the early pandemic periods are in line with previous studies. However, our results for sales price in the last pandemic phase (2022), marketing time, and visit activity suggest that the urban flight was a temporary phenomenon characteristic of the early COVID phases.     

自然资源资产离任审计、环境注意力与环境治理效率

领导干部自然资源资产离任审计是加强生态文明建设的一项制度安排。以部分地区开展自然资源资产离任审计试点为契机，采用多期双重差分法探讨自然资源资产离任审计对环境治理效率的影响。研究结果表明，审计试点后，环境治理效率得到显著提升；机制检验结果表明，自然资源资产离任审计能够有效提高政府环境注意力强度和持续性，进而提升环境治理效率；分样本检验结果表明，因官员变更、任期、年龄、制度环境以及地理区位的差异，审计试点对环境治理效率产生了异质性影响；拓展性检验结果表明，在审计试点期间，试点城市官员晋升概率与环境治理效率提升存在正相关关系，且更多表现为实职晋升。研究结论对加强自然资源资产离任审计和完善环境治理机制具有重要的理论与实践意义。