瞪羚企业认定是否提高了企业创新质量

瞪羚企业认定是我国创新驱动发展战略的重要措施，旨在培育高科技、高成长性企业，促进科技进步和经济高质量发展。为研究瞪羚企业认定能否切实提升企业创新质量，利用2005-2018年新三板企业数据和PSM-DID方法研究瞪羚企业认定对企业创新质量的影响及作用机制。结果发现：①瞪羚企业认定对企业创新质量有正向促进效应，且这种效应在地区和企业层面均存在异质性；②人力投入是瞪羚企业认定发挥作用的重要渠道；③制度因素对瞪羚企业认定影响的调节效应有限，意味着我国市场化改革和知识产权保护工作仍需进一步完善。最后，为政府有效开展瞪羚企业认定工作、促进企业提高创新质量提出政策建议。     

A comparative study of eight COVID-19 protective measures and their impact on Swiss tourists’ travel intentions

A comparative vignette-based experimental survey design incorporating various socio-psychological factors, linked to the Theory of Planned Behavior (TPB), the Health Belief Model (HBM) and the Domain-Specific Risk-Taking scale (DOSPERT) was carried out to test variations in eight travel-related COVID-19 protective measures on Swiss tourists’ travel intentions. Among the tested measures, vaccination passports, surgical masks and quarantining are those that stand out the most, with surgical masks having the greatest acceptance and willingness to adopt while traveling. Quarantining, on the other hand, appears to have a deterrent influence on travel intentions, and vaccination passports have the lowest perceived barriers during travel, but the highest perceived benefits in mitigating the spread of the infection. The discussion of individual differences has specific implications for tourism management against the background of our empirical findings.     

Mitigating panic buying behavior in the epidemic: An evolutionary game perspective

The panic buying behavior under public health emergencies will lead to many adverse consequences, such as material waste, price fluctuation and uneven distribution of epidemic prevention materials, which will pose a threat to the social stability and economic development. In this paper, we construct a tripartite game model to explore the strategic choices of the public, merchants and the government in order to effectively respond to the panic buying behavior in the epidemic. The results demonstrate that: (1) Eight evolutionary stable strategies emerge in the panic buying events. The worst scenario can be improved by adjusting some relevant parameters. (2) The probability of the public choosing the strategy of “not involving in panic buying” depends on the potential benefits and losses of snapping up, rather than the extent of price rising. (3) The probability of merchants choosing the strategy of “not bid up price” depends on the intangible benefits. (4) The probability of the government choosing the strategy of “active supervision” depends on the supervision costs and government credibility, rather than the amount of fines. In addition, strategic suggestions to mitigate panic buying behavior are put forward from the perspective of each stakeholder.     

西部地区财政科技支出的经济增长效应

科学技术是第一生产力，科技投入无论是在推动经济增长还是促进社会发展方面，都有着举足轻重的重要作用。通过协整检验、格兰杰因果检验等方法，研究2006年-2020年西部地区财政科技支出对区域经济增长的作用。实证结果表明，西部地区的财政科技支出与经济增长之间存在着长期的均衡关系。因此，应进一步加大及合理安排政府财政科技资金的投入，加强资金监管，提高资金使用效率，更好地促进经济发展与社会进步。     

State‐Led Financial Regulation and Representations of Spatial Fixity: The Example of the Spanish Real Estate Sector

This article offers a bottom‐up contribution to the fixity–motion literature. It aims to unravel the apparent contradiction of real estate spatial fixity in Spain, which is portrayed both as a barrier to accumulation and as a unique source of investment by different capitalist actors. Empirically, it describes the shifts in real estate ownership and changes in profit‐making strategies that have taken place across the real estate sector during the crisis years, and the role of the state in these shifts. The article asserts that the idea of spatial fixity representing a spatial barrier for accumulation does not necessarily apply in the Spanish case. It further claims that the tensions in capital circulation through real estate are not only to be found in the action of time, but in different state strategies pursued by various actors. The opposing representations of fixity are the result of state regulation of interest rates, taxation and risk weighting. The state also increasingly promotes land rents as a source of liquidity creation.     

Effect of Energy Prices on Economic Growth in the ECOWAS Sub-Region: Investigating the Channels Using Panel Data

The article empirically examines the effect of energy prices on economic growth within the Economic Community of West African States sub-region by acknowledging that the effect of energy prices on growth is quintessentially indirect and hence can be tracked through some channels. Exploiting the System Generalized Methods of Moments estimation technique for the period spanning 2002–2015, the results indicate that the overall effect of energy prices on economic growth is significantly negative. This effect propagates mainly through government consumption expenditure and investment, albeit its effect through real interest rate is positive. However, its negative effects on government consumption, investment, and exchange rate significantly overwhelm the positive effect from real interest rate.     

Foreign aid and economic growth: evidence from Cambodia

This paper attempts to examine the growth impact of foreign aid in Cambodia over the period 1980–2014, using the autoregressive distributive lag (ARDL) bounds testing approach. The study also incorporates investment and trade openness into the model. The empirical findings show that trade openness has positive effects on growth in both the short run and the long run; investment has positively contributed to growth in the long run while foreign aid has positive impact on growth only for the short run. On the contrary, in the long run, it has negative impact on investment and growth. This can be suggested that dependence on foreign aid for long periods of time does not positively contribute to investment and growth in Cambodia. In order to achieve sustainable growth and enhanced industrialization, policy-makers should move from aid dependence to promote investments through elevating domestic and foreign capital in the country.     

CEO career horizon,corporate governance,and real options: The role of economic short‐termism

Research Summary: Combining studies on real options theory and economic short‐termism, we propose that, depending on CEOs’ career horizons, CEOs have heterogeneous interests in strategic flexibility, and thus, have different incentives to make real options investments. We argue that compared to CEOs with longer career horizons, CEOs with shorter career horizons will be less inclined to make real options investments because they may not fully reap the rewards during their tenure. In addition, we argue that long‐term incentives and institutional ownership will mitigate the relationship between CEOs’ career horizons and real options investments. U.S. public firms as an empirical setting produced consistent evidence for our predictions. Our study is the first to theoretically explain and empirically show that a CEO's self‐seeking behavior will impact real options investments. Managerial Summary: This article helps to explain how a CEO's self seeking‐behavior may shape a firm's real option investment, which could result in different level of strategic flexibility. We argue that CEOs with short career horizons have less time to exercise their firms’ real options, which should lower the investments in the firms’ real options portfolios relative to CEOs with long career horizons. We study a sample of U.S. public firms and find strong evidence that a CEO's expected tenure in the firm is positively related to the real options investments at the firm level. We find that this agency issue can be mitigated by adopting appropriate corporate governance mechanisms such as long‐term incentives and institutional investors.     

A Kaleckian Perspective on Financialisation and Distribution in Three Main Eurozone Countries before and after the Crisis: France,Germany and Spain

The purpose of this article is twofold. First, we examine if, and to what extent, a general Kaleckian analysis of the potential effects of financialisation on income shares in advanced capitalist economies is of relevance for the three Eurozone countries under investigation—France, Germany and Spain—in the period before the recent financial and economic crisis. Second, we study changes in the financialisation–distribution nexus that have occurred in the course of and after the financial and economic crisis. We find that the countries examined here have shown broad similarities regarding redistribution before the crisis, although there are some differences in the underlying determinants. These differences have continued during the period after the crisis and have led to different results in the development of distribution since then.     

Producing drama: a comparison of film tax incentives to alternative uses

Incentive packages are popular tools for economic development. However, development projects are often considered in isolation without an analysis of opportunity costs. In this study, we use an intuitive framework for comparing projects and weigh alternate projects against North Carolina’s film incentive programme. The results indicate that there are substantial differences in the economic impact of the projects we consider in this study. Our results suggest that policy decisions by governments and economic development officials should weigh a potential project against alternative uses in order to optimize the use of incentives.