Deals not done: Sources of failure in the market for ideas

Using novel survey data on technology licensing, we report the first empirical evidence linking the three main sources of failure emphasized in the market design literature (lack of market thickness, congestion, lack of market safety) to deal outcomes. We disaggregate the licensing process into three stages and find that, although lack of market thickness and deal failure are correlated in the first stage, they are not in the latter stages, underscoring the bilateral monopoly conditions under which negotiations over intellectual property often occur. In contrast, market safety is only salient in the final stage. Several commonly referenced bargaining frictions (congestion) are salient, particularly in the second stage. Also, universities and firms differ in the stage during which they are most likely to experience deal failure. Copyright © 2014 John Wiley & Sons, Ltd.     

国际贸易成本、制度环境与 FDI 区位分布--来自120个城市的经验证据

本文使用世界银行的城市数据定量比较了国际贸易成本与产权保护水平、契约执行效率和政府干预程度等制度环境对FDI区位分布的影响。研究发现,外企高度依赖国际市场,国际贸易成本显著影响了FDI区位分布;融资的便利和母国政府的支持,推行纵向一体化导致其产业链有闭合趋势等因素,使外企对当地制度环境并不敏感。本文分析表明有必要进行全国性运输改革,以提升中西部内陆地区对FDI的吸引力。     

产权实现程度影响农户林业收入的机制研究——采用云南省集体林改监测数据的实证检验

新一轮集体林权制度改革改变了农户的产权结构及其实现程度,产权实现程度的变化会促使农户改变要素配置结构,进而带来林业收入的变化。利用2009—2018年“云南省集体林权制度改革跟踪监测”项目对10县500户农户的抽样调查数据,分析发现：集体林地使用权实现程度的提高会使农户减少对林业生产经营的劳动和资本投入,进而导致林业收入降低,反映出当前林业生产的比较收益较低;集体林收益权实现程度的提高会促进农户林业收入的增长,但这种促进效应更多地直接源于减税降费及生态补偿,并非由要素投入的增加引起;集体林处置权实现程度的提高则会促使农户增加对林业生产经营的劳动和资本投入,进而有利于林业收入的增长。因此,单纯的林地“三权”分置并不一定能带来林业的高质量发展和农户林业收入的增长,必须通过技术创新和政策扶持等提高林业生产的比较收益,才能使更多要素流向林业生产;要重视林业发展的生态效应,提高生态补偿标准,引导农户将更多要素持续投入林业生产经营;要进一步增强农户的集体林处置权,适当放松生态管制,建立和完善林业生态产品的价值实现机制,激发农户发展林业的积极性,在促进林业高质量发展的同时有效增加农户林业收入。     

加强知识产权保护对产业集群构建“创新网络”的积极作用

以产业集群构建"创新网络"为视角,通过建立演化博弈模型论证了加强知识产权保护对产业集群内部构建"创新网络"具有积极作用,并结合产业集群生命周期理论论述了产业集群在其发展的任一阶段都要重视对知识产权的保护。基于以上结论阐述了对我国产业集群建设的启示及政策建议。     

“鞍钢宪法”与现代企业“民主管理”

在现代股份制的公司体制中,盛行的是"一股一票"的资本民主,公司治理只是股东及其代理人的权利,而员工被排除在公司治理结构之外。这种管理模式不利于激励员工的劳动积极性,从而增加公司治理成本。同时,外部监督机制在缺少健全的内部监督时无法起到应有的作用,而职工监督是内部监督机制的重要内容。"鞍钢宪法"中的"民主管理"理念一定程度上解决了上述难题。在中国社会主义市场经济体制中,尤其是在公有制经济中,劳动者是生产的主人,企业的民主管理不但是提高管理效率的手段,还是劳动者应有权利的体现。     

P2P业务中的金融消费权益保护问题研究

近年来我国P2P网贷行业快速发展,但随着一批P2P公司陷入兑付困境,其背后隐藏的风险也开始显现。本文在介绍P2P存在的管理不规范等问题的基础上,剖析了导致这些问题的根源——立法空白、监管缺失、自律不足,最后提出了明确监管法规和部门、建立平台资金管理机制、加强信息披露等建议。     

Finance and Property Rights: Exploring Other Directions

There is a consensus that stronger property rights advance financial development. We provide evidence that the reverse hypothesis is also true. We isolate the structural component in the finance–property rights relationship using an instrument for financial development (private credit) based on an index of exposure to foreign crises, in addition to generalized method of moments approaches for panel data. Our results suggest a one standard deviation increase in private credit from its average in 2005 translates into a 0.5‐ to 1.0‐point increase in property rights. To contextualize this, the difference in property rights between Israel and Uruguay, two countries separated by about one standard deviation in the volume of private credit, was 0.67 points.     

市场经济运行机制下国有企业劳动关系变化的分析——以广东宏大爆破股份有限公司309厂事件为例

广东宏大爆破股份有限公司309厂事件集体停工事件给公共管理提供了新的视角,市场经济运行机制下国有企业劳动关系不再是单纯的人民内部矛盾,承认利益冲突和社会阶层分化是务实也是和谐社会应对机制的基石,博弈双方对权益的尊重是解决方案基础,工会是合法的桥梁。     

Resource complementarity and value capture in firm acquisitions: The role of intellectual property rights

Extant literature holds that firm acquisitions create value through innovation if the knowledge bases of the acquirer and the target complement each other. Little is known about the value that patents associated with a target's knowledge convey to the acquirer, i.e., their value in securing market exclusion and freedom to operate in R&D. We argue that such property rights hold preemptive power allowing firms to capture the value from combining complementary technologies and to realize gains from trade in strategic factor markets. Our results for a sample of 1,428 acquisitions indicate that—controlling for technological value—acquired preemptive power is an important determinant of the acquisition price, particularly when the acquirer is technology intensive and acquired patents are highly related to the acquirer's knowledge base. Copyright © 2013 John Wiley & Sons, Ltd.