一种专利组合价值评估模型的设计

专利资产证券化是推动企业的专利资产能够与金融资本有效融合、促进自主创新中资金需求与供给的良性循环的一种新兴融资方式。在专利资产证券化的过程中,对被证券化专利组合价值的评估是其核心步骤。在实践中,为了降低交易风险,被证券化专利资产池一般由两个或者两个以上的专利组合所构成。为对专利资产证券化中被证券化专利组合价值进行评估,本文针对被证券化专利组合的特点,构建了一个模式转换算法下的三叉树模型。经过算例分析,该模型的运用能够实现对该类专利组合价值的准确评估,从而保证专利资产证券化交易的顺利进行,推动我国专利产业化的进程。     

技术学习与企业技术能力链条:知识转化整合的作用

借鉴知识管理、组织学习等研究成果,提出并从理论上论证了一个整合性研究框架,揭示从技术学习上升到技术能力的演进过程。研究表明:技术能力演进需经过知识转化整合这一中介机制;在动态环境和知识转化整合过程中,即兴学习起着调节作用。研究成果为实证提供了新的研究命题和研究视角,丰富与发展了企业技术能力理论。     

When the customer has left the store: An examination of the potential for satisfaction rub-off effects and purchase versus no purchase implications

Two lacunae in the relationship marketing literature are examined in this paper: (1) effects of satisfaction stemming from one particular store visit on the customer׳s relation to other stores (the existing literature typically focuses on the customer׳s relation to one satisfaction-creating store), and (2) the extent to which the impact of customer satisfaction on future intentions is moderated by what happens during the satisfaction-creating visit in terms of purchase versus no purchase (the existing literature typically assumes that the customer subject to satisfaction has purchased something, despite the fact that the reality of retailing consists of many customers leaving stores without purchases).     

Superior Construction Inc.: An assessment of risks and controls as part of a post-acquisition engagement

Superior Construction Inc. (SCI) is a fictitious Toronto-based, publicly traded construction company that operates in the civil infrastructure and buildings markets. For this case, you will assume the role of a senior internal auditor at SCI, who has been given the responsibility to lead a post-acquisition due diligence review of a recently acquired privately held construction company, Building Excellence Inc. (BEI). You are provided with background on the acquisition, as well as information that your internal audit team has gathered during the post-acquisition review. With this background information, you are asked to perform a risk assessment of the newly acquired company and recommend controls to mitigate identified risks. In addition, you will assess SCI’s pre-acquisition review and evaluate the BEI purchase decision. This case requires you to draw upon your knowledge of risks and controls and to develop an understanding of the political issues that internal auditors face.     

Asymmetries exist in the Feldstein–Horioka relationship

Most studies assume symmetry between saving and investment changes. They are wrong to do so. We model the response of investment to positive and negative changes in saving for 17 OECD countries from 1960 to 2015. We use both panel and time series methods. We find that negative changes in saving have a stronger effect on investment than positive changes in saving do. In the short run, causality only runs from negative changes in saving to investment. In the long run, both negative and positive changes in saving Granger cause investment. Models relying on saving-investment symmetry in the long run are called into question. Policies assuming symmetric effects throughout the business cycle are similarly flawed.     

子女性别、婚姻年龄与父母生活满意度——代际经济关系转换视角下的实证研究

通过文献回顾以及构建引入婚姻支出的OLG模型,推导子女成婚影响父母生活满意度的假说,并使用2015年中国健康与养老追踪调查数据进行实证检验。研究发现女儿在提升父母生活满意度方面具有正向作用。在代际关系转换前,婚姻市场挤压使得彩礼、买房等导致男性竞争压力向家庭传导,婚姻支出降低了未婚儿子父母的生活满意度;成婚后子女经济支持差距缩小,子女通过向父母提供经济支持提升满意度的差异较小,尽管经济上儿子会损害父母的生活满意度,但儿子和女儿如果成婚较早都能改善父母的满意度。     

Export Controls and International Business: A Study with Special Emphasis on Dual-Use Export Controls and Their Impact on Firms in the US

The production of hazardous materials that can be used for civilian and military purposes (dual-use items) has led the U.S. government to impose export controls in order to prevent the proliferation of risky materials falling into the wrong hands — a concern in this age of international terrorism. Export controls are prudent government responses to the emergence of a new and widely perceived threat to national security. However, existing controls have failed to keep up with rapid global economic and technological changes, and are likely to have adverse effects on firms’ economic performance. This article suggests regulatory and policy reforms, as well as corporate strategies for dealing with U.S. export controls in order to make such controls effective and relevant to changing technological developments. Among the problems the article identifies are the negative effects of these export controls on firm innovation, market competitiveness, investment, and trade flows. These issues point to a pressing agenda for regulatory reform. Reforms can focus on limiting control lists, enhancing the bilateral or multilateral cooperation in export controls, improving the efficiency and transparency of the licensing system, improving resources and the outreach to small and medium-size exporters, and compensation for the loss of market share.     

Financial Globalization,Financial Crises,and the External Portfolio Structure of Emerging Markets*

We study the transitional dynamics of financial integration in emerging economies using a two‐sector model with a collateral constraint on external debt and trading costs incurred by foreign investors. The probability of a financial crisis displays overshooting; it rises sharply initially and then falls sharply, but remains non‐zero in the long run. While equity holdings fall permanently, bond holdings initially fall, but rise after the probability of a crisis peaks. Conversely, asset returns and asset prices first rise and then fall. These results are in line with the post‐globalization dynamics observed in emerging markets, and the higher frequency of crises that they display.     

比例操纵阀在汽车起重机中的应用

为满足中大吨位的汽车起重机大流量、高压力,既能实现自动比例控制,又能降低能耗的要求,湖南常德信诚液压有限公司设计了一种集负载反馈、压力补偿先导比例控制为一体的节能比例操纵阀。文章阐述了该阀的结构,进一步通过汽车起重机系统说明了其原理。该阀结构紧凑,功能齐全,可应用于25～65t起重机上替代进口阀,现已投入批量生产。