研发投入、新兴资本与企业绩效关系探讨

文章以2012年我国上市公司年度报告为研究样本,应用AMOS结构方程软件,实证分析了研发投入、新兴资本与企业业绩的相互关系。研究表明,研发投入对新兴资本、新兴资本对企业业绩都具有显著的促进作用。企业要实现持久的业绩提升,必须转变新兴资本筹集渠道。自主研发应成为新兴资本最主要的获取途径,并且还需进一步调动研发人员积极性,促进研发费用向开发支出以及新兴资本的转化,并进一步加强新兴资本间的内部整合,提高新兴资本的投入效率。     

煤矿地震数据动态解释软件设计与开发

为了提高煤田地震勘探的精度,提出了煤矿地震数据动态解释的思路,并通过Qt编程开发了地震资料动态解释软件系统.该系统包括矿井多元数据综合管理、三维地震资料解释、解释成果编辑、三维可视化分析与地震地质成果输出等功能.工程应用表明该软件能够把煤矿三维地震勘探获得的静态勘探成果与矿井生产过程中所获得的各类地质信息相互融合,实现地震资料动态解释,实时更新地震资料解释成果,为煤矿安全高效开采提供了地质保障.     

区域发展战略对能源消耗的影响研究——新结构经济学视角

基于新结构经济学理论,对区域发展战略与能源消耗的关系进行理论和实证分析。理论分析发现,违背比较优势的区域发展战略使得人均能源消耗增大。进一步地,利用我国1997-2019年的省级面板数据进行实证检验,在选取老工业基地数量作为区域发展战略的工具变量等内生性处理和稳健性检验后,实证结果支持上述理论假说。异质性分析发现,处于不同发展阶段的地区,区域发展战略对能源消耗的影响不同。进一步讨论发现,违背比较优势的区域发展战略还会导致能源库兹涅茨曲线的第二个拐点延后,峰值也将变大,阻碍能源库兹涅茨曲线的收敛。为实现人与自然和谐共生的“中国式现代化”,建议政府采用符合比较优势的的地区发展战略,并大力支持创新和相关人才的培训以及继续教育工作。     

浅论我国民事反诉制度的完善

在民事诉讼制度中,反诉制度是一项重要的制度.英美法系对反诉制度功能的发挥持积极的态度,注重实用,利用反诉制度一次性解决与之相关的纠纷,同时对反诉严格区分为强制反诉与任意反诉;而大陆法系对反诉制度的功能持保守的态度,注重理论的完整性,严格遵守关联性要件理论.在对反诉作出深刻认识的基础上,通过对比英美法系与大陆法系不同的反诉观,利用我国现有的反诉理论,提出我国应当注重实用,引入英美法系的强制反诉理论,做为完善我国反诉制度的指向.     

企业出口与工资差距——来自中国制造业的证据

从世界银行企业投资调查数据中可以发现,中国出口企业内部的工资差距高于非出口企业.由于处在生产技术结构与所在地区比较优势更为接近的行业中的企业,在没有保护和补贴的情况下具有自生能力,能够获得较高的剩余,所以这类企业在开放竞争的条件下资本积累速度更快,在资本技术互补的假设下,增加了对更高技能劳动力的需求.出口对企业内高级管...     

高密度电法在地基塌陷区勘察中的应用

通过高密度电法快速采集地电断面结构信息，准确反映不良地质体的二维分布情况。为查明地基塌陷的诱发原因和地基处理提供了依据。通过实例证明该方法工作效率高、信息量大及在实际应用中的良好效果。     

Accounting for Gender in a Study of the Motivation-Involvement Relationship

ABSTRACT

The effects of gender on involvement in high-risk recreation have received limited research attention despite mounting evidence suggesting the learned interactions between people and places likely vary for men and women. The purpose of this study was to provide insights into how gender influenced the motivation-involvement relationship among whitewater recreationists on a Wild and Scenic River in California. Our results revealed the motivations of Risk, Escape, Learning, and Achievement/Stimulation positively influenced involvement in rafting activities. Although gender did not influence all dimensions of involvement, we found that identity expression varied between subgroups. Specifically, men were more likely to ascribe meaning to rafting than women because this activity allowed them to affirm and express their individual character. The implications emanating from this study advance theoretical understanding of the factors that influence enduring involvement and inform natural resource management decisions about maintaining the desired benefits of activities sought by nature-based recreationists.     

Are Turkey's tourism markets converging? Evidence from the two-step LM and three-step RALS-LM unit root tests

In this study, we aim to analyse whether Turkey's 14 major tourist source markets are converging by using monthly data over the period January 1996 to December 2012. To this aim, we use the recently developed two-step Lagrange multiplier (LM) and three-step residual augmented least squares-Lagrange multiplier (RALS-LM) unit root tests that allow for two structural breaks in data. The results indicate that 10 out of 14 markets are converging, meaning that tourism policies and strategies directed at these markets are successful. Furthermore, the break points correspond to the important political, social, natural and economic events such as crisis, earthquake, disease and terrorist attack.     

Dynamic R&D choice and the impact of the firm's financial strength

ABSTRACT

This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from its credit rating, which is shown to lead to substantial differences in estimates of the costs and expected long-run benefits from R&D investment. Financially strong firms have a higher probability of generating innovations from their R&D investment, and the innovations have a larger impact on productivity and profits. Averaging across all firms, the long-run benefit of investing in R&D equals 6.6% of firm value. It ranges from 11.6% for firms in a strong financial position to 2.3% for firms in a weaker financial position.     

NO‐ARBITRAGE PRICING UNDER SYSTEMIC RISK: ACCOUNTING FOR CROSS‐OWNERSHIP

We generalize Merton’s asset valuation approach to systems of multiple financial firms where cross‐ownership of equities and liabilities is present. The liabilities, which may include debts and derivatives, can be of differing seniority. We derive equations for the prices of equities and recovery claims under no‐arbitrage. An existence result and a uniqueness result are proven. Examples and an algorithm for the simultaneous calculation of all no‐arbitrage prices are provided. A result on capital structure irrelevance for groups of firms regarding externally held claims is discussed, as well as financial leverage and systemic risk caused by cross‐ownership.