The Benefit of Frequent Corporate Philanthropy

Applying behavioural economic theory, we argue that the frequency of philanthropic activity is important in determining corporate philanthropy's economic outcome. Using Chinese data from 2003 to 2016, we find that firms with more frequent philanthropic activities obtain more government subsidies than firms that only engage in one-off charitable donations. Firms with better corporate governance, such as higher management ownership and more independent directors, are more likely to adopt a strategy of frequent donation. Furthermore, firms are more likely to be frequent donors when management or local government officers have a long tenure. Our findings provide insight into the giving process and suggest that firms can maximize the benefit of corporate philanthropy if they strategically consider the donation frequency and donation amount simultaneously.     

农业机械化发展及其服务外包的原因分析——源自冀豫鲁3省问卷调查数据的证明

[目的]在统计描述华北平原农民的机械采纳率和机械采纳方式的基础上,分析农民的机械化需求和农机手的机械服务供给行为及其内在逻辑,从理论和实证两个维度对华北平原地区农业机械技术的特殊实现形式——服务外包做出解释。[方法]运用描述性统计分析和成本收益核算等方法,利用冀豫鲁3省779个农户和45个农机手的实地调研数据分别对农业机械化发展的前提条件和实现方式做出解释。[结果]农业劳动力成本上升与农机购置成本下降,共同刺激了农民的机械技术需求,是华北平原农业机械化快速发展的前提条件;持有农业机械的农民基于理性选择而向其他农民提供农机作业服务,是推动华北平原农业机械化以服务形式实现的主要原因。[结论]相关部门应继续探索高效的农机补贴模式,刺激农民的机械技术需求;农业机械支持政策可适当向农机合作社倾斜,提高农机手的组织化程度和服务数量与质量。     

Bidding for Firms with Unknown Characteristics

When a region successfully attracts a firm by offering subsidies, the firm often commits itself to performance targets in terms of employment. In this paper, we interpret these firm‐specific targets as a consequence of incomplete information. We analyze a model of two regions that compete for a firm, assuming that the firm's productivity is ex ante unknown. We show that performance targets often induce overemployment in high‐productivity firms, and that tax credits are often superior to lump‐sum payments. Moreover, when regions differ in wage rates, the low‐wage region wins the bid and has a higher surplus than under complete information. Finally, we show that, under incomplete information, bidding might not lead to efficient firm location.     

Environmental regulations in private and mixed duopolies: Taxes on emissions versus green R&D subsidies

In this article, we compare two kinds of environmental regulations—emissions taxes and green R&D subsidies—in private and mixed-duopoly markets in the presence of R&D spillovers. We show that a green R&D subsidy is better (worse) than an emissions tax when the green R&D is efficient (inefficient), irrespective of R&D spillovers, whereas the existence of a publicly owned firm encourages the government to adopt a subsidy policy. We also show that the optimal policy choice depends on R&D efficiency and spillovers. In particular, when green R&D is inefficient and the spillover rate is low (high), the government should choose an emissions tax and (not) privatize the state-owned firm. When green R&D is efficient, however, an R&D subsidy is better, but a privatization policy is not desirable for society, irrespective of spillovers.     

政府补贴促进制造业企业研发投入了吗?——基于资本结构的门槛效应研究

本文以2016~2018年沪深股市的制造业上市公司为研究样本,通过建立门槛效应模型,验证了政府补贴与企业研发投入的作用关系会随着资本结构的变化而变化。研究发现,政府补贴能够促进企业研发投入,并且在资本结构的调节作用下呈现三重门槛效应。进一步研究还发现,政府补贴对非国有企业研发投入的影响系数更高。因此,政府研发补贴政策需要综合考虑企业资金状况、企业性质,建立有效甄别机制,实施差异化补贴策略,加大对非国企补贴力度,拓宽中小企业融资渠道。     

新能源汽车价格补贴政策的绩效分析和改善建议--以J新能源汽车公司为例

新能源汽车是我国汽车行业重要的发展方向,笔者通过研究我国新能源汽车的发展历程、价格补贴政策存在的问题,提出完善新能源汽车价格补贴政策的对策,以期为我国新能源产业的科学发展和我国汽车产业的转型升级提供参考。     

大国产业竞争视阙下美欧推动的国际产业补贴新规则——中国的立场与对策

在经济全球化和先进技术占主导地位的时代,大国竞争的本质在于争夺产业链的控制权,提高在产业链中的地位。为阻止中国在产业链的升级,欧美通过对外签订经贸协定,推动国有企业规则和更新补贴规则,同时在WTO框架下谋求针对中国补贴模式修改WTO补贴规则,将补贴范围从财政补贴延伸至扭曲市场的贷款,以反补贴、竞争政策、国有企业规则等多项规则管制产业补贴。我国必须通过分类改革确定国有企业在产业竞争中的作用和地位,对充分竞争行业的商业类国有企业重新塑造"商业性"或"中性"身份,避免对我国国有企业特殊反补贴规则的适用;确立我国接受产业补贴规则的底线思维,通过博弈明确产业补贴负面清单,积极回应欧美国家关于补贴透明度要求,为相关谈判奠定良好基础。     

政府补贴、国际知识产权保护与企业创新——来自战略性新兴产业上市公司的证据

政府补贴对企业创新的影响存在争议,在美国重点打击中国战略性新兴产业的背景下,补贴这一产业政策的有效性再次引起热议。本文以2012-2017年沪深A股战略性新兴产业上市公司为样本,研究在国际知识产权保护加强的背景下政府补贴对战略性新兴产业创新绩效的影响。研究发现:中国政府实施的补贴政策有利于促进战略性新兴产业创新,但国际知识产权保护加强约束了中国政府补贴的规模和空间,从而抑制了补贴政策对战略性新兴产业创新的激励作用;此外,基于企业和产业异质性视角,国际知识产权保护的加强主要抑制了补贴对国有企业、内资企业和新材料产业创新的促进作用。进一步完善补贴政策和国内的知识产权保护制度,有利于提升中国在构建国际经济新秩序中的话语权。     

我国农作物秸秆综合利用产业促进政策研究

［目的］深入地分析了我国秸秆综合利用产业现行促进政策，阐述了存在的主要问题，并提出针对性解决方法，以期为促进秸秆综合利用政策体系建设提供政策建议。［方法］按照法律法规、目标引导和考核、财税补贴、技术研发和推广、信息统计等进行分类，综合评述各类现行政策的特点、使用范围和有效性，并采用相关者利益分析等方法分析存在问题，提出政策建议。［结果］随着我国秸秆露天焚烧问题日益突出，国家加大了对秸秆综合利用重视的程度，出台一系列关于秸秆综合利用等方面的法律、法规和激励政策等，初步构建了秸秆综合利用政策体系，呈现出聚焦关键环节、关键技术和重点地区的趋势。但是，还存在着政策的有效性有限，未形成合力； 农民参与度低； 使用环节缺乏激励政策等问题。［结论］建议出台区域生态补偿制度，落实耕地地力保护补贴政策，鼓励终端产品使用和消费等政策。     

Pricing,greening, and transparency decisions considering the impact of government subsidies and CSR behavior in supply chain decisions

In this paper, we analytically model different government subsidy strategies in a supply chain manufacturing and selling a green product. We model the interaction between greening degree and transparency level set by a manufacturer and its impact on not only the supply chain, but also consumers and the government. The supply chain is composed of a manufacturer and a retailer. The manufacturer can choose two different strategies. First, he only cares about his production profit; and second, he concerns with CSR in addition to his production profit. We develop a new transparency-based index of consumer satisfaction to model how the market reacts to manufacturer CSR decisions. The government decide three different subsidy strategies. A three-stage Stackelberg game model is developed and solved to analytically derive managerial insights. As a result, if the transparency cost coefficient is sufficiently high, the greening degree and transparency level in CSR concerns strategy are higher than when the manufacturer is not concerned with corporate social responsibility. In addition, when the transparency cost coefficient is sufficiently high, the profit of supply chain members and government are equal in both strategies. We give a real-world example of Iranian brick industry.