Research on the effects of command-and-control and market-oriented policy tools on China's energy conservation and emissions reduction innovation

The impact of environmental regulation on technology innovation is a hot spot in current research where a large number of empirical studies are based on Porter Hypothesis(PH). However, there are still controversies in academia about the establishment of "weak" and "narrow" versions of PH. Based on the panel data of application for patent of energy conservation and emission reduction(ECER) technology of Chinese city scale during 2008-2014, comprehensive energy price, pollutant emission, etc., mixed regression model and systematic generalized method of moments method were adopted, respectively,to study the impact of market-oriented and command-and-control policy tool on China's ECER technology innovation. The results show that the environmental regulation hindered the technological innovation in the immediate phase; however, it turned out to be positive in the first-lag phase. Hence, the establishment of "weak" PH is time-bounded. The command-and-control policy tool played a more positive role in promoting technological innovation in the first-lag phase than market-oriented policy tool. Therefore, "narrow" PH is not tenable. The reason is that the main participants of China's ECER technology innovation are state-owned companies and public institutions. Regionally speaking, the impact which command-and-control policy tool has on technological innovation at sight was nonsignificant in the eastern, the central, and the western regions of China whilst market-oriented policy tool had a negative effect. And market-oriented policy tool in the central region had strongest negative effect, which would diminish in the eastern region and become weakest in the western region. This was related to regional energy consumption level and the market economic vitality.

Market-based control strategy for long-span structures considering the multi-time delay issue

To solve the different time delays that exist in the control device installed on spatial structures, in this study, discrete analysis using a 2N precise algorithm was selected to solve the multi-time-delay issue for long-span structures based on the market-based control （MBC） method. The concept of interval mixed energy was introduced from computational structural mechanics and optimal control research areas, and it translates the design of the MBC multi-time-delay controller into a solution for the segment matrix. This approach transforms the serial algorithm in time to parallel computing in space, greatly improving the solving efficiency and numerical stability. The designed controller is able to consider the issue of time delay with a linear controlling force combination and is especially effective for large time-delay conditions. A numerical example of a long-span structure was selected to demonstrate the effectiveness of the presented controller, and the time delay was found to have a significant impact on the results.

Quality Control of Selected Antimalarials Sold in the Illicit Market: An Investigation Conducted in Porto-Novo City (Republic of Benin)

Malaria is a parasitic disease caused by the bite of female Anopheles mosquito and particularly affects the tropical areas of the world. According to national statistics it is the leading cause of consultations and hospitalizations. Nowadays, despite the surveillance systems for efficient malaria control and access to generic drugs, Benin is witnessing an increased development of illicit drug markets with a large part of the population going towards such markets. However, this is not without adverse impact on the health of individuals, as well as, the economic status of the country. Therefore, the situation needs to be seriously considered by policy makers at various levels, health professionals but also the entire international community in order to thwart this scourge.Regarding the aforementioned situation, the current study was undertaken aiming to perform a quality control of selected antimalarial drugs of the illegal market in Porto-Novo city. Therefore, 40 antimalarial batches were randomly collected in the illicit drug market and submitted to analytical tests such as: macroscopic examination (a visual and critical examination);mass uniformity test;disintegration test;identification test and active ingredients’ content measurement. At the end of the study, the percentages of non-compliance is 97.5%, 5%, 15% and 27.5%, respectively for the content uniformity tests, disintegration, identification and assay. Over-all, 42.5% of noncompliance was recorded. The findings of this study prove that street vended drugs offer no guarantee of good quality and pose a threat to the health of populations. Also, the rate of non-compliance denotes a flaw in the security of the drug distribution system.

Macroeconomic Control Over the Socialist Market Economy

The goal of China’s economic structural reform is to establish a socialist market system in China which will play a fundamental role in the disposition of natural resources under the macrocontrol and regulation of the government. This means, on the one hand, that in accordance with the law of value in open market activities,

The Relationship between the Trade Life Circle and the Takeover Type --The Inspection of the Efficiency of the Market for Corporate Control in China

According to the differences between operation and correlationship by both sides of the takeover in the market for corporate control, the takeover can be divided into three types--transverse takeover, longitudinal takeover and mixed takeover. Meanwhile, due to the activities of takeover taken by the companies in the different trade life circles adopting different takeover types, so their performances are different. Seeing about this relationship, you can effectively inspect the efficiency of the market for corporate control. Adopting298 stylebook data from the market for corporate control in China, and through empirical analyzing, it can see that because of the existing of the stock holding, the efficiency of the market for corporate control in China is not very high. The government tempts to adjust the industrial structure through merger and acquisition （M＆A）, but it urged the aim of state-owned economy forward strategic transfer difficult to come true. To solve the contradiction of ＂setting up of the stock holding＂ comes to no time to delay. ＇

内部控制视角下政府环境监管与企业绿色技术创新——市场化水平的调节作用

“双碳”背景下,工业企业如何平衡环境保护与经济发展的关系成为亟待解决的问题。以2012—2019年中国120个城市工业企业为研究对象,选取内部控制、市场化水平作为中介变量与调节变量,探讨政府环境监管对企业绿色技术创新的影响,并通过构建回归模型进行分析,结果表明:①政府环境监管对企业绿色技术创新具有正向影响;②企业内部控制在政府环境监管对绿色技术创新的影响过程中发挥部分中介作用;③市场化水平负向调节政府环境监管与绿色技术创新的关系。结论可为政府加强环境监管,从而进一步改善市场环境提供重要参考。

PJM电力市场风险管控措施及对南方区域的建议

电力市场改革的深化对电网运行风险管控提出了新的要求。通过总结PJM(Pennsylvania-New Jersey-Maryland)电力市场的风险管控策略,从两个方面分析其电力系统物理运行风险管控策略:包含长期、短期和实时的风险事故发生前措施,执行紧急中断与恢复的风险事故发生后措施;从日前的可靠性机组组合、与电能量市场联合优化的辅助服务市场、中长期的容量市场和输电权市场四个方面分析其基于电力市场的风险管控策略。并将其与南方电网现有风险管控措施相对比,提出了进行多时段风险评估、采取调度-市场相结合的管控风险手段、建设完备的市场体系、成立风险委员会等多方面建议。

VoIP Market Intensified,the Government Control Still Won't Be Unlocked In the Near Future

The traditional telecommunications operator of China has entered into a substantive network construction stage of NGN and new VoIP service in 2006. As the increasing understanding and the consideration of cost to VoIP, VoIP has become more acceptable for CIO of large-scale enterprises. Small and medium-scale enterprises are sensitive to communication cost, but influenced by the maturity of VoIP technology and reduction of VoIP equipment price, the market is intensified. All these drive the VoIP equipment entering into the actual purchase stage and promote the stable growth of VoIP equipment scale.

Integral Performance Criteria Based Analysis of Load Frequency Control in Bilateral Based Market

Performance index based analysis is made to examine and highlight the effective application of Particle Swarm Optimization (PSO) to optimize the Proportional Integral gains for Load Frequency Control (LFC) in a restructured power system that operates under Bilateral based policy scheme. Various Integral Performance Criteria measures are taken as fitness function in PSO and are compared using overshoot, settling time and frequency and tie-line power deviation following a step load perturbation (SLP). The motivation for using different fitness technique in PSO is to show the behavior of the controller for a wide range of system parameters and load changes. Error based analysis with parametric uncertainties and load changes are tested on a two-area restructured power system. The results of the proposed PSO based controller show the better performance compared to the classical Ziegler-Nichols (Z-N) tuned PI and Fuzzy Rule based PI controller.

并购防御机制与上市公司违规--催化剂还是减压阀

本文基于中国控制权市场激活的时代背景,采用部分可观测的Probit模型,从内部章程条款制定的视角,探究了公司并购防御与违规的关系,提出并购防御影响公司违规的“催化剂”效应和“减压阀”效应。并基于2006—2018年沪深两市A股上市公司的数据对并购防御机制与公司违规的关系进行了实证检验,结果表明,公司并购防御主要通过“催化剂”效应影响公司违规。机制检验发现,并购防御机制通过减少市场关注、削弱市场的威慑作用以及增强管理层权力导致公司违规行为的增加,进一步支持了并购防御影响公司违规的“催化剂”效应。

ADAPTIVE FORECAST AND CONTROL OF THE MARKET ECONOMIC SYSTEM WITH FUZZY INPUTS

In this paper, the adaptive forecast and control of the market economic system with fuzzy inputs is discussed. A new method which is adapted for the adaptive forecast and control of this kind of system is introduced. Through a living example the better result is explained concretly.

生成式人工智能治理的经济法逻辑

在广受关注的生成式人工智能领域,各主要国家正在加强经济法治理,我国在该领域的经济法治理还未得到足够重视,并存在多方面问题。经济法的双重功能及其体系构造决定了它在生成式人工智能治理上具有不可替代的作用,围绕生成式人工智能的国际规则竞争尤其需要经济法发挥作用。经济法对生成式人工智能的治理应当促进发展与安全的融合,注重系统治理,加强事前防范与事后回应相结合、专项规则供给与一般规则适用相结合。宏观调控法和市场规制法应当基于各自优势在生成式人工智能治理中发挥相应作用;考虑到生成式人工智能在不同阶段的复杂情形,经济法治理应当分段进行、区别对待。为了使经济法治理更加精准、更具效率,需要科学构建生成式人工智能风险评价机制。

异质性环境规制对企业差异化绿色创新行为的影响——知识搜寻的中介作用

环境规制与绿色创新的关系一直备受争议,这可能与多数文献忽视环境规制(命令型与市场型)与绿色创新(策略性与实质性)的双重异质性有关。基于制度理论与知识管理理论,构建“环境规制—知识搜寻—企业绿色创新”理论框架,综合运用多元线性回归与模糊集定性比较分析(fsQCA)方法,采用285份企业调查问卷验证研究假设。结果显示:命令型环境规制仅能促进策略性绿色创新,市场型环境规制仅能促进实质性绿色创新;知识搜寻深度在命令型环境规制与策略性绿色创新间发挥中介作用,知识搜寻广度在市场型环境规制与实质性绿色创新间发挥中介作用。进一步地,通过fsQCA分析得到5种前因构型,其中,高策略性绿色创新与高实质性绿色创新的组态路径分别有2条和3条。结论可拓展环境规制对企业绿色创新影响的研究维度,并为政府调整环境规制政策、企业应对外部制度压力提供参考。

碳市场建立对非控排企业绿色创新的影响研究

以尚未纳入碳交易体系的上市公司为样本,基于溢出效应框架分析碳市场建立对非控排企业环保决策的影响。研究发现,客户被纳入碳市场交易促进了非控排供应商企业的绿色创新。其作用机制在于,碳交易下的控排企业绿色创新具有基于生产网络的压力效应和动力效应,能够激发关联非控排企业的绿色创新意愿,并助推其绿色创新能力提升。这一溢出效应有助于实现非控排企业绿色创新增量提质,且该过程具有方向性,碳市场建立并不存在基于生产网络“自上而下”的治理效果外溢,相关影响在非控排企业客户集中度较高、绿色创新基础较好及环境不确定性较高时更加明显。此外,碳市场建立的绿色创新溢出效应对于推动非控排企业可持续发展具有积极作用。研究结论为高效发挥碳市场绿色治理效果、深化环保改革以促进经济高质量发展提供了管理启示。

全国统一大市场税收制度优化研究

构建全国统一大市场是我国构建新发展格局的基础支撑和内在要求,税收制度在这一过程中必然发挥不可忽视的作用,完善的税收制度有助于全国统一大市场的建设。但目前我国税收制度仍存在区域性税收优惠政策缺乏规制、对科技创新的税收优惠政策效果不佳、税收与税源背离等问题,严重制约了全国统一大市场的建设。有必要规制区域性税收优惠政策、保障科技创新税收优惠政策的落实、完善征税制度,促进全国统一大市场中的税收制度不断完善,更充分地发挥税收在全国统一大市场建设中的助力作用,进一步推动我国经济高质量发展。

股权质押、市场时机选择与企业风险承担——以信息技术行业为例

以2013—2020年沪深两市A股信息技术行业上市公司为样本,实证分析控股股东股权质押及其时机选择对上市公司风险承担的影响,并探究不同质押率下的影响程度。实证结果发现,控股股东股权质押对上市公司风险承担产生正向影响,且影响程度对质押率较高的公司更为显著;市场时机选择在控股股东股权质押对上市公司风险承担的影响中起调节作用,股权质押对企业风险承担的正向作用随着市场时机的增大逐渐减弱,并在达到某一临界值后转变为负向作用。研究结果对于规范上市公司控股股东股权质押行为、缓解企业融资约束和提升企业价值等具有启示。

上市公司审计委员会与年报风险信息披露--基于管理层信息操纵视角

上市公司年报风险信息是了解公司经营现状与预测未来发展的重要信息来源,它具有信息增量价值,但容易受到管理层信息操纵的影响。审计委员会作为公司治理的独立机制,对管理层具有内部监督作用。基于此,利用2010—2021年上市公司风险信息披露数据,实证检验了审计委员会对管理层信息操纵的治理作用。研究发现,审计委员会独立性、勤勉性和专业性越强,年报风险信息披露水平越高,且在不同性质市场环境中审计委员会的治理作用存在差异。机制检验结果表明,内部控制发挥了部分中介作用;此外,在内部治理环境较弱与外部监督压力较大时,审计委员会的治理作用更加显著。结论拓展了年报风险信息披露的影响因素研究,并通过构建不同维度的风险信息指标来综合衡量披露水平,证实了审计委员会对管理层信息操纵的治理效应,为审计委员会更好发挥监督效果以及监管部门进一步完善上市公司风险信息披露制度提供了重要支撑。

混合所有制改革与内部资本市场效率

基于2008-2021年国有集团成员企业数据,研究了混合所有制改革对集团内部资本市场效率的影响及作用机制。结果显示,混合所有制改革对国有企业集团的内部资本市场效率有显著的提升作用。机制检验发现,混合所有制改革通过非国有股东委派董事和提高内部控制质量提升了内部资本市场效率。混合所有制改革对集团内部资本配置效率的提升作用在非国有股东向企业委派董事时更显著,但非国有股东委派董事比例过高反而无法提升内部资本市场效率。进一步分析得出,在集团多元化程度高、市场竞争程度低时,混合所有制改革对内部资本市场效率有更大的提升作用。

控股股东财务资助与企业价值创造——基于民营上市公司的经验证据

党的二十大报告再次重申“两个毫不动摇”,为民营企业价值创造提供强有力的政策支持,而融资方式是影响企业价值的重要因素之一。控股股东财务资助凭借其融资成本低、内部风险可控等优势,成为民营企业融资新渠道。以2007—2021年沪深A股民营上市公司为样本,实证检验了控股股东财务资助对企业价值创造的影响。研究结果发现,控股股东财务资助对企业价值创造具有显著的正向影响。作用机制研究表明,控股股东财务资助通过降低税收负担激发企业价值创造。异质性分析表明,控股股东财务资助对企业价值创造的促进作用随着产品市场竞争程度的提高而增强,且对小规模企业的影响更加明显。研究既丰富了控股股东财务资助的经济后果及企业价值创造影响因素方面的文献,又为相关部门制定政策制度提供参考以及民营上市公司有效融资提供了理论依据。

混合储能聚合商参与能量-调频市场控制策略

提出了一种混合储能聚合商(hybrid energy storage aggregator,HESA)参与能量-调频市场的控制策略。首先,对于独立系统运营商(ISO)发出的调频指令信号进行VMDWVD时频域分析,重构固有模态分量(IMF)生成高频信号与低频信号,分别作为HESA中功率型储能和能量型储能的输入信号。其次,构建了计及多市场价格不确定性的HESA投标与运行策略min-max-min模型,基于列和约束生成算法(C&CG)和强对偶理论对主子问题进行迭代交替求解。最后,基于实际PJM市场的价格、调频信号等数据进行了仿真,验证了HESA主体投标运营策略的有效性。