企业的研发外包:一个综述

企业在研发外包的过程中通常会面临着由合同的不完全性、知识的非独占性以及累积性创新的不完全替代性所带来的各类成本,而研发外包之所以能够更多地进行是因为在现实操作中存在着缓解这类成本的治理机制。在此基础上,本文以企业为主要参考点通过文献综述重点考察了作为治理机制的研发外包的最优组织形式,研发外包中的合同设计以及公共政策层面和企业层面的知识产权保护措施。尽管上述不同层面上的知识产权保护措施在一定程度上可以缓解信息泄漏问题,但知识产权保护强度的增加并不一定就能够促进企业更多地进行研发外包。为此,本文还考察了知识产权保护强度与企业研发外包决策的关系。     

期望落差与互联网新创企业狙击型国际化——基于资源条件与市场环境二元情境视角

互联网新创企业国际化战略目标及实施路径独具特色,逐渐成为研究热点。以北京小桔科技有限公司为案例对象,基于业绩反馈理论和前景理论,构建“期望落差-二元情境-狙击型国际化”的研究框架,系统揭示互联网新创企业狙击型国际化行为及实现机制。研究发现：期望落差促使互联网新创企业实施狙击型国际化战略,资源条件与市场环境二元情境在其中具有调节作用,即在资源劣势-市场壁垒高情境下采取“组合拳”模式的狙击型国际化,在资源劣势-市场壁垒低情境下采取界内合作模式的狙击型国际化,在资源优势-市场壁垒高情境下采取跨界协作模式的狙击型国际化,在资源优势-市场壁垒低情境下采取市场控制模式的狙击型国际化。     

交通行业生产率变动的BOOTSTRAP-MALMQUIST指数分析(1980-2005)

交通行业是一个资本高投入、能源高消耗和污染高排放的行业,尽管中国改革以来的交通运输业取得了巨大成就,还鲜有从生产率视角对该行业的研究。本文应用Malmquist-DEA方法测算了中国交通全行业及四个主要部门1980—2005年间的生产率变动,并引入Bootstrap-DEA方法估计了技术效率变化及其置信区间,通过Bootstrap纠偏提高了效率测度的准确性。测评结果表明,20世纪90年代初期以来交通行业TFP增速有所下降,技术效率显著下降;2000年之后,交通各部门的技术进步率大幅度上升,技术效率继续下降。中国交通行业的发展模式面临转型,这也是中国经济增长方式转变的重要组成部分。     

A study of zoning for energy security in China

As a result of more and more serious energy risks, the study of national energy security zoning is not only the basic requirement of energy risk management but also the new demand of economic development for the energy industry. Firstly, this paper analyzes the basic situation of energy resources and production and consumption of primary. energy from 1996 to 2005 in China. Secondly; this paper founds an Energy Security Index System formed by six indices including the percentage of energy reserves, interlocal dependent degree, energy elasticity coefficient and so on. It subsequently calculates the weight of these indices with the factor analysis rating method Lastly, the paper evaluates and zones the abilities of energy security of 30 provinces in China with the grey chuster method According to their security; the 30 provinces are classified into three different levels： high, medium, and low levels. The regions at low energy security level include Beijing, Shanghai, Zhejiang, Fujian, Guangdong, Guangxi and Hainan. They are mainly littoral and short of primary energy production while mostly dependent on other provinces. Those at medium energy security level include 15 provinces （cities or districts）, such as Liaoning, Tianjin, Hebei, Shandong, Henan, Hunan and so on. These provinces are in the northeast, north, east of and central China. Those at high energy security level contain Shanxi. lnner Mongolia, Heilongjiang, Jilin, Chongqing, Sichuan, Shaanxi. Xinjiang. These provinces are the main primary energy production bases.     

中国私营企业的生产率表现和投资效率

本文利用第一次全国经济普查数据系统地研究中国私营企业的生产率表现和投资效率问题。样本分析表明,东部地区材料和机械设备制造业的私营企业在劳动生产率和资本生产率上都明显领先于其他地区,然而这种优势主要集中表现在规模较大的企业上。生产函数的估计结果显示各地区大部分行业的资本弹性稳定地处于0.2—0.3之间。对生产率方差的分解表明,地区和行业内部近90%的生产率差异来自TFP的差异,劳均资本的差异只占贡献来源的13%左右。虽然行业间生产率差异的主要来源还是TFP,但地区间的生产率差异则主要来源于劳均资本的差异。资本边际产出在地区间和行业间的不均衡分布意味着部门间存在资本配置的非效率。我们通过模拟实验发现,省际间资本重置给私营制造业带来的潜在产出增长效果比行业间的资本重置更加明显,这意味着私营制造业资本的地区间流动障碍比行业间障碍更为严重。     

什么影响了证券分析师盈利预测的准确度?——来自中国上市公司的经验证据

证券分析师的盈利预测在我国资本市场中扮演着越来越重要的角色。本文以2004～2006年被分析师预测的A股上市公司为样本,在控制盈余特征、公司规模及性质、行业和年度等因素的基础上,实证检验了机构持股比例和盈余管理动机对证券分析师盈利预测准确度的影响。研究结果显示:被分析公司机构持股比例的提高,将带来盈利预测准确度的提高;而当公司存在巨亏或微利的盈余管理动机时,分析师预测的难度增加,预测准确度降低。此外,分析师关注度及盈余特征对盈利预测也会产生影响。对公司进行跟踪的分析师越多,盈利预测的准确性越高,当公司发生亏损或收益下滑时,盈利预测准确性较差。     

企业危机管理与公司治理结构

中国加入世贸组织以来,国内大型企业由于在公司治理结构上的问题,导致了企业危机的爆发,文章应用公司治理结构对企业危机进行了分析,在分析了国内大型企业危机的深层次原因的基础上,提出符合当前国内企业的危机管理对策。     

Demand disruption and coordination of supply chain via effort and revenue sharing

This article explores the equilibrium behaviour of a basic supplier–retailer distribution channel under demand disruption via effort and revenue sharing contract. This differs from the traditional supply chain coordination model. Firstly, demand is simultaneously affected by retail price and nonprice marketing effort from manufacturers and retailers. Secondly, when the demand is disrupted, this article considers disruptions in the market scale and price sensitivity coefficient. Thirdly, the supply chain coordination model is proposed via effort and revenue sharing contract. In this way, the manufacturer reduces the wholesale price as an incentive for the retailer to share revenue. Finally, the total supply chain profit is greater with contract than no contract. This also constitutes another incentive for the players to follow the effort and revenue sharing contract.     

Structural estimation of behavioral heterogeneity

We develop a behavioral asset pricing model in which agents trade in a market with information friction. Profit‐maximizing agents switch between trading strategies in response to dynamic market conditions. Owing to noisy private information about the fundamental value, the agents form different evaluations about heterogeneous strategies. We exploit a thin set—a small sub‐population—to point identify this nonlinear model, and estimate the structural parameters using extended method of moments. Based on the estimated parameters, the model produces return time series that emulate the moments of the real data. These results are robust across different sample periods and estimation methods.