科研组织应该控制其衍生企业吗——基于中国上市科研组织衍生企业的研究

创办衍生企业是科研组织实现科技成果转化的重要途径之一。在衍生企业创办之初，科研组织作为“家长”，在衍生企业成长过程中扮演着不可或缺的角色，但随着衍生企业逐渐发展壮大，科研组织作为学术机构参与企业经营管理的弊端也逐步显现。同时，伴随着衍生企业不断成长，对外来资本的需求增加，母体科研组织面临股权被稀释，甚至失去控制权的问题。那么，当衍生企业发展到一定规模，母体科研组织作为衍生企业实际控制人是利大于弊还是弊大于利？以中国境内上市科研组织衍生企业为样本，分析科研组织衍生企业母体控制权对企业绩效的影响，结果发现，科研组织作为衍生企业实际控制人时，企业绩效更优。     

Security regulations,access to capital markets,and firm performance: Evidence from China

This study explores the cost of security regulations in China, where firms are required to meet a certain profitability benchmark before applying for permission to raise more equity via secondary equity offerings (SEOs). Using a difference-in-differences setting, we show that firms affected by the regulation (i.e., firms with high external financing demands (EFD) but profitability lower than the regulatory requirement) significantly underperform their counterparts, while unaffected firms do not. The affected firms’ performance decline increases (decreases) when the requirement of profitability is more (less) restricted. Consistently, the three-day cumulative abnormal return (CAR) of firms with high EFD is significantly negative (positive) when the regulation is tightened (loosened). Our study provides evidence on how the cost of regulation affects companies that have growth opportunities.     

Financial capability of student loan holders who are college students,graduates, or dropouts

Effective consumer financial education provides relevant information to meet special needs of targeted audiences. The purpose of this study is to examine differences in financial capability among student loan holders who are college students, graduates, and dropouts. Using data from the 2015 U.S. National Financial Capability Study, the results show that student loan holders who have completed their education program have higher scores in all financial capability indicators than college students and dropouts. Further analyses show differences in specific financial knowledge items among college students, graduates, and dropouts. In addition, college graduates are more likely to perform several specific desirable financial behaviors than college students and dropouts. The findings suggest that financial educators should emphasize action taking when they provide financial education for student loan holders who are college students and dropouts.     

双弧焊对10Ni3CrMoV钢性能影响的研究

对921A钢进行了热模拟试验,同时对该模拟试样作了50℃冲击功测试,结果表明,试验钢经过双丝焊接热循环后,热影响区各区的低温冲击功普遍低于母材。将冲击功最低试样做光学显微组织分析,结果表明试样的组织由母材的回火索氏体组织转变为贝氏体+粒状贝氏体+少量铁素体;将其冲击断口做电子扫描电镜分析,结果表明整个断口主要为放射区,只有少量纤维区和剪切唇区主要呈解理特征;验证了调整双丝间距和焊速得到合理的热循环是取得优良焊接接头的保证。     

大学生就业现状与高校教育收费的相关关系研究

近些年,大学生就业难已经成为社会所密切关注的问题之一.最近在对大学生就业难问题原因的探讨上,部分学者认为源于教育高收费,“成本困境”才是困扰大学生就业的真正致因抑或“瓶颈”.针对此种观点,本文在实证分析的基础上发现教育收费高并不是导致我国大学生就业难的根源,教育收费并不是大学生就业难的Granger原因,它只与我国大学生就业存在一定程度的负相关,并且这种相关性较弱,而学费高问题应由我国政府投入加以解决.     

近年来印巴关系之新态势:动因与挑战

印巴关系在2009年印度大选后虽起伏跌宕,但整体上朝着积极方向发展。由于两国战略认知的转变、经贸关系的升华以及南亚地区形势的变迁、国际促和力量的推动,印巴两国在政治互信、反恐合作、经贸合作、能源合作等领域取得了积极进展。然而,由于彼此国内"不和"力量的存在,在反恐议题上的分歧,以及两国在军备竞争、克什米尔争端以及安全战略方面的现实主义考虑,制约着未来印巴关系的走向。     

井冈蜜柚取汁工艺优化

井冈蜜柚果汁饮料有一定的市场前景,其深加工有待发展。对柚子果汁饮料生产工艺中的关键技术问题,即提高柚子出汁率问题进行研究。结果表明:100 g果肉直接榨汁后按1 000 U/100 g添加量加入果胶酶,200 U/100 g添加量加入纤维素酶,在45℃下处理3 h,出汁量达到86.3 g/100 g果肉,比未加酶处理时提高了近1倍。     

基于Pro/E的家用多功能躺椅的设计

利用Pro/E软件设计了一款多功能躺椅,实现坐、躺和攀爬相结合的功能。该装置采用整体设计、关键部位设计和细节设计的设计思路,利用Pro/E的骨架建模结合多功能躺椅自身结构的特点进行运动和受力分析。结果表明:该设计思路可以有效实现设计的一致性,设计的多功能躺椅既可以当椅子用,也可以转换为躺椅用来休息,同时又可以折叠成梯子来使用,从而达到一物三用的目的。     

Subnational institutional environment,scale competition and MNEs’ ownership levels in transition economy: evidence from China

Abstract

This paper shows that the effect of market scale competition on the ownership levels of foreign-funded enterprises is conditioned on sub-national institutional environment in China. Analysis is based on the idea that multinational enterprises subject to the dual pressures of institutional isomorphism and competition in the host country. The provincial panel data from 2001 to 2012 is used for empirical tests. This study indicates that the weaker the legal property rights protection and legal enforcement of contracts, and the higher the opening up, the more the large foreign-funded enterprises decrease their ownership levels, whereas the negative moderating effect incurred by the reduction to government intervention in business is limited significant.     

浅谈深基坑的若干问题

本文主要论述了深基坑围护的若干设计理论及施工技术,并结合工程实际进行案例分析,探讨结合理论知识指导实际工程管理的作用。