Research on the Influence of Government R&D Funding and Enterprise R&D Investment on the Innovation Efficiency of Pharmaceutical Industry

Objective To study the effect of government R&D funding and enterprise R&D input on innovation efficiency of China’s pharmaceutical industry.Methods Based on the inter-provincial panel data of China’s pharmaceutical industry from 2009 to 2019,the stochastic frontier analysis method was used to study the influence of government R&D funding and enterprise R&D input on the innovation efficiency.Results and Conclusion With 1%increase in government R&D funding,the innovation efficiency of enterprises will increase by 0.122%.When R&D investment increases by 1%,innovation efficiency will increase by 0.169%.Both government R&D funding and enterprise R&D investment promote the innovation efficiency of pharmaceutical enterprises,but the increase of enterprise R&D investment contributes more to the improvement of pharmaceutical innovation efficiency.

Discussion on the Improvement of Management System of Government＇s Non-tax Revenue

With the establishment of the aim of public finance, the non-tax revenue management causes extensive concern of both academy and government in recent years, around which the policy of fee-to-tax reform and income-expenditure going different ways etc. was launched. How to manage the non-tax revenue, which constitutes an important part of the public revenue, plays an important role in the rationalization of public revenue and the building of the public finance system. This paper uses international experience as reference to analyze the situation of the current non-tax revenue management, and the innovation of non-tax revenue management mode from both theoretical and practical aspects.

LETTERS

Lin Zhixin’s devotion to charity is a touching story.It is good to know that many benevolent people are contributing to Lin’s charity projects.Transparency is the key to Lin’s success;without it,charities quickly lose public credibility.Certain governmental charities in China are currently grappling with a public trust crisis following recent scandals.

China’s Government Investment Funds:Evolution,Risks and Reform Measures

In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound change of the government’s financial management idea and mode.In reality,the practice of China’s government investment funds is still in the stage of“learning by doing”.The diversification of the target,the lack of supervisory experience,the imperfect information disclosure and evaluation mechanism,and the shortage of professional talents pose a challenge to the government’s future risk control and the regulation of government behavior.This paper summarizes the path and trend of the development of government investment funds and the possible risks,and on the basis of international experience,puts forward the measures and suggestions for further standardizing the management of government investment funds and deepening the reform of government investment and financing system.

A comparative analysis on models of higher education massification

Four financial models of massification of higher education are discussed in this essay.They are American model,Western European model,Southeast Asian and Latin American model and the transition countrie’s model.The comparison of the four models comes to the conclusion that taking advantage of nongovernmental funding is fundamental to dealing with financial difficulty faced by higher education.As a result,it can be argued that the declining of higher education quality does not necessarily have to do with schooling system.On the contrary,the development of private higher education helps the activation mechanism of competition so as to cultivate talents needed by the society.