金融创新如何缓解信任品市场失灵?——中国食品安全责任强制保险的自然实验

信任品市场(如食品、医药等)存在的问题一直困扰着中国和世界很多国家。关于产品和服务质量的信息不对称(道德风险和逆向选择)会导致信任品市场失灵。缓解信任品市场失灵,一种常见的解决方案是政府监管;而经济学家认为更加基于市场的解决方案(例如强制责任保险等金融创新)可能更为有效。在理论上,强制责任保险有两种相反的效应:保险公司的监督减少了道德风险 vs. 保险加剧了企业的道德风险,但一直亟待实证检验。幸运的是,中国食品安全责任强制保险的改革实验走在了世界的前列。本文利用了中国在不同地区、不同时间推行的这个自然实验,通过双重差分的方法识别出责任保险对于信任品市场的因果效应。本文的研究发现,强制责任保险能显著降低食品安全事故发生概率。这表明政府强制推行的金融创新可以成为信任品市场失灵的一种有效的替代性解决方案。     

不完全合同理论视角下渐进性创新的逆向研发外包组织模式、技术溢出与创新能力研究

既有研发外包组织理论主要基于技术优势企业视角,关注如何治理技术溢出等交易成本,忽视了缺少专利和隐性知识的企业进行渐进性创新时最优研发外包组织选择。基于不完全合同视角,从企业对研发中激励代理方努力与降低渐进性创新的不完全替代性成本之间的权衡出发,分析委托方如何合作、并购、委托以及新建研发等组织最优选择。结果表明,当委托方技术水平较低时,最优组织将需要给代理方更多控制权以激励其努力,相反,委托方则保留更多控制权以降低不完全替代性成本。委托方市场规模通过影响代理方的私人收益降低不完全替代性成本,使得委托方愿意放弃控制权以激励代理方努力。新建研发可以看作是委托方通过承担更多时间和风险成本,从而降低不完全替代性成本。在不同组织形式中,委托方对研发投入的积极性是不同的,这决定了委托方通过研发外包获得的技术溢出效应和企业创新能力。     

‘The times they are a changin’? transformative organizational innovations in financial services in the UK

Much of the management guru-based literature emphasizes the transformational capacity of organizational innovations (OIs). The excellence, quality and reengineering literature purports to abandon hierarchy, bureaucracy and management control; to eradicate conflict and instil an new team and quality-based ethos. Yet much remains unknown about how these OIs are operationalized. Here we question both theoretically and empirically the validity of such transformational claims by reference to our research within financial services. We argue that despite considerable changes, OIs remain both a condition of, and location for, the exercise of organizational power relations. Bureaucratic and hierarchical structures continue to pervade organizations. Work-related pressures and tensions abound concerning issues such as control over the quality versus the quantity of work output, work intensification and job insecurity. All of which impinge upon the performance of OIs, and belie notions of a ‘transformation’ of organizational cultures, structures or strategies.     

Effect of cognitive style and professional development on the initiation of radical and non-radical management accounting innovations

This study examines the effects of adaptive/innovative cognitive style, and professional development on the initiation of radical and non‐radical innovations by individual management accountants. Data are gathered through questionnaire and follow‐up interviews with practising management accountants. The results show that management accountants with a more innovative (adaptive) cognitive style tend to initiate more (fewer) radical relative to non‐radical innovations, and that this effect is amplified by professional development. The study has implications for research in management accounting innovation and for practice, including the importance of maintaining a balance of radical and non‐radical innovations in organizations, and of professional development.     

Get Ready for Innovation by Invasion

From many years of field research in West Germany and the United States, and especially from a recent study of relatively mature firms in Ohio, Gerhard Mensch has become aware of the disruption caused by the invasion of industries by new technologies from the outside. He sees the frequency of these invasions increasing in coming years for reasons that go beyond technological matters to the pressures for change coming from the capital markets. In this Perspective , he suggests the invasions can be countered and the capital markets satisfied by giving a more prominent role to the innovation manager in the strategy development process.     

A New Typology for Economic Sectors with a view to Policy Implications

This paper is an attempt to tease out a typology of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The typology explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight goes back to Allyn Young (1928) and Joseph Schumpeter (1934) who argued that the introduction of new goods was the engine of economic growth. More precisely, our typology of sectors focuses on novel products which are efficiency-enhancing within and between sectors through the market mechanism. The scheme revolves around the relationship between 'Enabling' and 'Recipient' sectors (which gives the typology its name: ER), and offers a lens for viewing and interpreting a substantive part of the mechanics of modern economic growth. The last part of the paper briefly discusses a few immediate policy implications, although it has the potential for greater use and value in this regard.     

发现新的增长源泉：金融市场化

实体经济部门需求和金融部门的供给的高度不匹配,严重制约了中国经济的发展。依靠传统的国企投资来拉动,已不再奏效,低效率和泡沫泛滥的并存,经济增长难以为继。推动中国经济增长的动力之一,民企的内源性融资是否还能持续下去？近年来地方政府和企业共同推动金融市场化的实践,表明可以通过金融市场的竞争解决不对称信息问题,把过去银行认为不符合贷款条件的无效融资需求最大限度的转化为有效需求,就能够有效地降低民企的投资扩张的临界点,形成经济增长的新源泉。因此,不仅仅依靠利息率市场化的调整,而更需要通过金融机构之间的积极竞争,从而填补金融市场的供求缺口。     

Collaboration for R&D Projects between the Industry and External Agents: Evidence from Manufacturing Companies in Peru

In this article we use the innovation survey of the manufacturing industry of Peru to identify cooperation behaviors for research and development (R&D) projects among companies and external agents in general. Likewise, we also find cooperation behaviors among the industry and the following external agents: university, technical centers, suppliers, customers, and companies of the same group, competitors, guilds, and consultants. Within the specific agents, the university is considered a cooperation agent for R&D projects. We use the survey of innovation in the manufacturing industry of Peru conducted in 2015, which resulted in 1447 Peruvian companies being surveyed. Evidence was obtained as to the degree of the tie between the industry and external agents for cooperation in R&D projects, giving relevance to variables such as investment, resources, and degree of innovation. Our results show that investment is an important factor for cooperation with external agents. Additionally, companies that have innovated at some point seek to cooperate with external agents. Finally, the importance of the university is demonstrable, thus, companies that invest in R&D seek to cooperate with the university.     

供给侧改革视角下科技保险 “供需双冷”困境及其化解

在供给侧改革背景下,科技保险肩负着为科技创新保驾护航的历史使命。然而,科技保险试点10年来,依然面临需求低迷与供给不足并存的发展困境。其主要根源在于：严重的信息不对称造成市场失灵、“跛行”的财政支持政策不能形成有效激励以及不成熟的行业环境制约。要想走出这一困境,仅仅从需求方着力是远远不够的。科技保险的正外部性和科技保险市场高度的信息不对称,决定了必须从财政支持、产品创新、机制创新、中介培育及信息服务等方面进行供给侧改革。为此,提出应当构建供需并重的差异化财政支持机制、加大与需求侧相匹配的科技保险产品供给、创新科技保险契约模式及运行机制、搭建科技保险中介服务和信息支持平台等建议。     

我国农村养老保险制度创新的若干思路

农村养老保险制度的创新对于提高农民生活水平,拉动农村需求,构建城乡和谐社会具有重大意义。本文提出和探讨农村养老保险制度创新的原则和目标、实施机制以及支持措施。