基于国际经验的科技型企业不同成长阶段政策需求研究

将科技型企业的成长阶段分为"创业期"、"成长期"、"成熟期"和"衰退期"四个阶段,对科技型企业在各个成长阶段的特点及面临的主要风险进行分析,并对发达国家针对科技型企业不同发展阶段特点制定的差异化扶持政策措施进行研究。在此基础上,提出我国制定促进科技型企业发展政策的对策建议。     

ON THE PROFITABILITY OF RESALE PRICE MAINTENANCE WHEN DEMAND IS UNCERTAIN

A previous study finds that in a market where a manufacturer faces uncertain demand and sells to consumers through competitive retailers, the manufacture wishes to support adequate retail inventories by imposing resale price maintenance (RPM). I show that if retail inventories are allocated to consumers through first‐come‐first‐served rule rather than efficient rationing rule in the game with unconstrained retail competition, imposing RPM may not be profitable. It may not encourage more retail inventories either. RPM may also lower consumer surpluses and social welfare. This study casts some doubt on the demand uncertainty theory that supports RPM.     

In Vino ‘No’ Veritas: impacts of fraud on wine imports in China

China is one of the largest wine importing countries in the world and is poised for continued import growth in the future. Increased wine purchases throughout China have given rise to persistent fraud where fake wines are packaged and sold with counterfeit contents and labels. For exporting countries like France, counterfeit wines displace market share, damage foreign brand reputation, and cause distrust in consumers who are aware of counterfeiting problems throughout the country. We examine the impact of fraudulent wine events (as measured by negative media reports) on Chinese wine demand differentiated by supplying country. We employ the Rotterdam demand system and a switching regression procedure to estimate import demand and compare results across different media variable specifications. Results consistently show that negative reports disproportionately affect French wine regardless of how the media variable is specified. This is not surprising because most fraudulent events involve French wine counterfeits.     

The impact of Air Service Agreement liberalisation: The case of Nigeria

The positive impact of air transport liberalisation as suggested by economic theories and empirical studies has inspired many developing countries like Nigeria to liberalise some of its Air Service Agreements (ASAs). This paper seeks to examine the extent to which international air service liberalisation has impacted upon Nigeria ten years after it was introduced. The research developed a cross-sectional model with passenger traffic as the dependent variable, while macroeconomic factors (trade and GDP), historical links, distance and ASAs (a proxy for liberalisation) served as independent or predictor variables. The analysis revealed a set of ASA stages in the country's policy-making process (restricted Bilateral Air Service Agreement, Open Skies Agreement and Yamoussoukro Declaration). Further analysis showed that the predictor variables were all significant in explaining passenger demand. The model demonstrated that the liberalisation of market access to the Open Skies Agreement level could stimulate traffic growth by at least 65 percent. The findings can assist in guiding policy and industry stakeholders in future decisions relating to liberalisation and ASAs.     

Modelling substitution between domestic and outbound tourism in Australia: A system-of-equations approach

This study uses a system-of-equations approach to model the substitution relationship between Australian domestic and outbound tourism demand. A new price variable based on relative ratios of purchasing power parity index is developed for the substitution analysis. Short-run demand elasticities are calculated based on the estimated error correction almost ideal demand systems. The empirical results reveal significant substitution relationships between Australian domestic tourism and outbound travel to Asia, the UK and the US. This study provides scientific support for necessary policy considerations to promote domestic tourism further.     

Renewable energy and low-carbon policy spillover effects on natural gas demand

Recent legislation intended to increase the use of renewable energy sources and lower the amount of carbon dioxide emissions from energy has changed the structure of energy markets. The effect of these policies on carbon-intensive fuel sources is rather obvious. For natural gas, though, the effect is not immediately clear. This letter uses a structural model of natural gas demand to uncover whether these policies have led to increased demand because natural gas is a relatively clean source of energy that couples well with renewables or if these policies have crowded out natural gas on net.     

需求侧、供给侧视角下中国经济增长动力转换实证研究

为找出中国经济持续高速增长背后的驱动因素，了解增长动力的演变规律，本文基于投入产出模型，从最终需求的角度解析消费、投资和出口对经济拉动作用的动态变化；同时运用DEA方法，从要素供给角度分析中国各地区劳动、资本和TFP对经济增长的贡献，结合需求侧和供给侧的双重角度，探讨经济增长的动力转换特征和问题。结果表明，中国经济增长的需求动力来源由前期的消费转变为出口后，近年来又转变为投资，而资本要素一直是中国各省市增长的主要要素驱动力。中国的经济增长正处在投资主导阶段，经济快速增长的背后伴随着效率下降等问题。     

The effect of heterogeneous beliefs on mergers and acquisitions

This article investigates the effect of heterogeneous beliefs on firms’ mergers and acquisitions (M&A) decisions. Using data of China’s financial market, which is featured with great heterogeneity of belief, we find that heterogeneous beliefs are positively associated with the occurrence of M&A transactions, and firms with greater heterogeneous beliefs are more likely to pay the transactions with stock. Moreover, we show that government intervention, measured by state ownership, weakens the effect of heterogeneous beliefs on firms’ M&A decisions.     

Nondiscretionary residential water use: the impact of habits and water‐efficient technologies

Several studies published in the last few decades have demonstrated a low price‐elasticity for residential water use. In particular, it has been shown that there is a quantity of water demanded that remains constant regardless of prices and other economic factors. In this research, we characterise residential water demand based on a Stone‐Geary utility function. This specification is not only theory‐compatible but can also explicitly model a minimum level of consumption not dependent on prices or income. This is described as minimum threshold or nondiscretionary water use. Additionally, the Stone‐Geary framework is used to model the subsistence level of water consumption that is dependent on the temporal evolution of consumer habits and stock of physical capital. The main aim of this study is to analyse the impact of water‐saving habits and water‐efficient technologies on residential water demand, while additionally focusing attention on nondiscretionary uses. This is informed by an empirical application using data from a survey conducted among residents of Brisbane City Council, Australia. The results will be especially useful in the design of water tariffs and other water‐saving policies.     

让学术研究回归社会需求是技术经济研究的努力方向

技术经济的研究有两个面向:面向学术和面向应用。面向学术有两个方面,一是面向国际,二是面向国内。面向国际,要在国际学术期刊发表论文,特别是在国际顶级期刊发表论文,必须有新发现、新结论,这很不容易,我们真正有原创性的研究还很少。面向国内的学术成果主要在国内发表,论文数量和水平在逐年提高,但相当多的文章是为了发表而发表。面向应用也有两个方面,一是面向政府,主要是为宏观的、战略决策和管理服务;二是面向企业,就是面向企业实际操作层面。这两个方面我们都做得很不够,存在越来越脱离实际的倾向。为此,我们要认真思考要不要改变,如何改变这种状况。