State-Owned Capital Participation in Private Enterprises:A Perspective of Debt Financing

This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.

Experimental Study of a Solar Thermal Incubator Using a Phase-Change Material for Off-Grid Use

The aim of this study was to provide a simple, easy-to-use incubation system for small-scale rural poultry farmers far from the electricity grid. To this end, a naturally ventilated solar thermal incubator was built and experimentally tested. A U-shaped evacuated tube collector and a wooden crate holding 50 eggs were used to build the solar thermal incubator. Water was used as the heat transfer fluid, and an EPCM was integrated into the incubation chamber for operation at night or when the sun was hidden. The heat generated by the solar collector and stored in the heat transfer fluid is transported to the incubation chamber by thermosiphon to heat the chamber. Temperature and humidity probes powered by a solar panel were placed at various locations to monitor the thermo-hygrometric efficiency of the incubation system. The incubator, heated by natural convection, proved to function normally, and the incubation chamber was maintained throughout the incubation period within a temperature range of 35.53˚C to 39.53˚C and relative humidity averaging 49.4% to 68.5%. The experiment was carried out by introducing 30 eggs and the results of the experimental study showed that the incubator’s efficiency was 87%. The performance tests gave a fertility rate of 93% and a hatching rate of 93%, i.e. 28 fertile eggs and 26 hatched eggs, respectively.

Experimental Study of Temperature and Humidity Variations in an Incubator Fitted with a Flat-Plate Collector

In Burkina Faso, where livestock farming is widely practiced, particularly in rural areas without access to electricity, solar energy offers a viable alternative due to the country’s abundant sunshine. To support poultry farmers in increasing their production, we developed a solar-powered incubator equipped with a flat-plate collector, requiring no grid electricity. This is a new approach that we want to experiment with because the incubators on the global market operate either with the electricity grid, photovoltaic, gas or oil and not a solar thermal concentrator. This solar concentrator represents the heat source of the device during the day. We plan to look for rocks with high thermal inertia in order to heat them during the day using another flat solar concentrator and then introduce them into the incubator at night to continue the incubation process. In 2022, we conducted a simulation to study temperature variation inside the incubator. In this work, we built a prototype to experimentally evaluate key hydrothermal properties such as air temperature and humidity. Furthermore, we will not introduce rocks into the incubator overnight but will let the system run overnight to see how the hygrothermal properties vary. The findings revealed temperature fluctuations from 25˚C to 65˚C, instead of the desired 36˚C to 38˚C, and humidity levels ranging from 15% to 57%, instead of the target 55% to 75%. Solutions have been proposed to enhance the system’s performance.

Research on Mixed Ownership Reform of State-Owned Enterprises from the Perspective of Marxist Political Economy

Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.

Internal Control Management and Risk Prevention Measures of State-Owned Enterprises

As an important pillar of national economic development,state-owned enterprises,their operational efficiency,and risk management ability are directly related to the stability and security of the national economy.As an important part of enterprise management,internal control management plays an irreplaceable role.Especially in the current domestic and international economic situation is complex and changeable,market competition is increasingly fierce environment,to strengthen the internal control management of state-owned enterprises and risk prevention measures is particularly important.This paper starts with the importance of internal control management and risk prevention for state-owned enterprises,and analyzes the problems and strategies in the internal control management and risk prevention of state-owned enterprises,in order to build a more comprehensive and efficient risk management system for state-owned enterprises to adapt to the ever-changing market environment and realize sustainable development.

Giraffe Incubator婴儿培养箱常见故障维修

简要介绍了Giraffe Incubator婴儿培养箱的用途,详细分析了该培养箱日常使用中出现的4例故障维修过程,并给出了具体的排除方法,为医院临床工程师维修类似故障提供参考。最后指出了部分故障由于操作人员操作不当引起,建议定期对操作人员进行培训与考核,以降低故障发生率。

A microliter incubator array for understanding culture condition selectivity

The emergence of antibiotic-resistant bacterial strains and the weaponization of rare bacterial strains pose a potential threat of pandemic disease. Those involved in the treatment and control of infectious diseases have called for the development of a device capable of rapidly, simultaneously, and safely investigate a myriad of culture conditions. In response to this need, a microliter incubator array system is described and results from a proof-of-concept study using yeast cells to determine optimal growth conditions is presented.

Research on Financial Performance of State-owned Enterprise Mixed Ownership Reform

Mixed ownership is an important form of realization of China＇s economic system reform and development, and it is also the main direction of state-owned enterprise reform. In order to further promote the deepening of the reform of mixed ownership, this paper randomly selects 200 listed state-owned enterprises as research objects, and studies the trends of the financial performance of these enterprises from the mixed state-owned enterprises and non-mixed-modification enterprises in the five years from 2013 to 2017, and compares their various trends. Financial indicators, a comprehensive evaluation of the problems and causes in the reform of the mixed ownership system, and then propose countermeasures to further deepen the reform of mixed ownership based on the research conclusions.

Does the incubator control mode influence outcomes of low-birth-weight neonates during the first days of life and at hospital discharge?

Background: The thermal environment surrounding neonates in closed incubators can be regulated via two different modes: skin servocontrol mode (SSC) and air temperature control mode (ATC). These produce different patterns of incubator air and infant body temperatures. Objective: To assess the effects of incubator control mode on clinical outcomes of low-birth-weight-infants during the first days of life and at hospital discharge. Methods: 52 low-birth-weight neonates were nursed over ten days in closed incubators functioning either with SSC mode (n = 29), or with ATC mode (n = 23). Results: The anthropomorphic characteristics of the two groups of neonates were homogenous (gestational age = 29.4 ± 1.4 vs. 29.9 ± 1.2 weeks and birthweight = 1214 ± 347 vs. 1263 ±292 gin the SSC-group and the ATC-group, respectively) and the caregiving (energy and fluid intakes, ventilator assistance and drug administration) did not differ statistically. Daily means of incubator air temperature were similar in the SSC and the ATC-group, however, the SSC mode resulted in more variable incubator air temperature but more stable skin abdominal temperature whereas the reverse was found when using the ATC mode. Those differences had no impact on the body weight of the neonates or their clinical outcomes at hospital discharge which were not statistically different. Conclusion: The clinical outcomes do not differ depending on the incubator control mode after the first ten days of life and at hospital discharge.

Exploring New Ways to Deepen the Reform of State-owned Foreign Economic and Trade Enterprises

By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroughs. At present, the following aspects are important: 1. Implement a Holdings System in the Reform of State-owned Foreign Economic and Trade Enterprises. The holdings system plays a major role in transferring the management mechanism of state-owned foreign economic and

Fundamental issues and solutions in the design of China's ETS pilots:Allowance allocation,price mechanism and state-owned key enterprises

This paper analyzes the three main fundamental issues in the design of China's ETS pilots,including allowance allocation,price mechanism and state-owned key enterprises,and proposed suggested solutions.For the issue of allowance allocation,we suggest that the gradual hybrid mode could be applied at the beginning,which starts with mainly free allocation and then increases auction ratio gradually.And grandfathering is a suitable method of free allocation.For the issue of price mechanism,we suggest a price floating zone with open market operation to reduce the uncertainty of prices.For the issue of state-owned key enterprises,we suggest a good coordination with SASAC,defining the state-owned property right and supervision right when state-owned key enterprises are involved into the carbon market,and the local government can set rules of allocation and transaction to limit their potential market power.

Profit Delivery Proportion,Operation Performance and Bond Rating of Agricultural State-owned Enterprises

The distribution relationship between the profits of state-owned enterprises and the state has been constantly changing with the times. From the state implementing the policy that state-owned enterprises not pay profits to the state in 1994 to the constant growth of stateowned enterprises in the 21st century,their profits have become more and more abundant. Until 2007,the state issued a document stipulates that the state-owned enterprises should pay part of their profits to the state,but at the initial stage of trial implementation of the policy,the implementation was not effective,and finally in 2010 the state officially announced the collection of profits from state-owned enterprises and increased the proportion of collection. From the perspective of agricultural state-owned enterprises,using the difference-in-difference( DID)model,this paper studied the state policy of increasing the profit delivery proportion of state-owned enterprises in 2020. Through CSMAR database,we selected agricultural state-owned listed companies in the 2008-2013 as samples,tested the impact of the implementation of the new policy in 2010 on the operation performance of agricultural state-owned enterprises,evaluated the implementation effect of the policy through comparing the operation performance before and after the policy,and explored whether the policy has an impact on the bond rating. Through empirical research,it found that increasing the profit delivery proportion of state-owned enterprises is helpful for improving the operation performance of state-owned enterprises and improving the quality of bond ratings,and this policy has more prominent effects on stimulating the performance of monopolistic state-owned enterprises. Therefore,collection of some profits from state-owned enterprises can promote better development of state-owned enterprises and also benefit both the state and the people.

Modernization of Governance System and Governance Capability of State-Owned Enterprises

State-owned enterprises are important pillars of socialism with Chinese characteristics,and the modernization of their governance system and governance capacity is an important part of the modernization of the national governance system and governance capacity.Through case study and specific practice,this paper carries out an in-depth thinking and serious analysis on how to promote the modernization of the governance system and governance capacity of state-owned enterprises under the new situation and requirements.This paper puts forward three kinds of management and control mechanism to enhance core competence in addition to the specific implementation path by using digital governance means.

What European Incubators Can Learn From Their American Counterparts： An Analysis of the Critical Success Factors for a Startup Incubator

This study suggests a theoretical component to the thus far proposed explanations of what makes a startup incubator successful in enabling entrepreneurial activity. Departing from a traditional focus on industry- and nation-wide resources, we develop a framework of the critical success factors for a startup incubator and a scoring mechanism to evaluate the success of existing startup incubators using these factors. We score a selection of American and European incubators using the developed scoring mechanism and comparatively benchmark the European incubators against the American ones to identify areas for improvement. Our findings suggest that European incubators, while relatively strong overall, can look to and learn from their American counterparts in certain areas. Importantly, these improvement areas are not specific to characteristics of any individual European incubator, but to European incubators overall. Finally, we aim to expand this study to other entrepreneurship hubs worldwide and we outline a plan of action to enable this expansion.

30 years of reform of China's state-owned asset management system

Reform of China’s state-owned asset management system is an important component of China’s economic system reform,but also a key factor in rejuvenating the national economy.In this article,the authors analyzed the background of the reform,summarized the reform process and discussed related question on how to deepen the reform.

Research on evaluation model of technology innovation ability of state-owned enterprises in northeast industry base

The paper viewed the current problem that state-owned enterprises in northeast industry base hadn＇t technologies of their own intellectual property right, whose sources mainly depended on imitation and introduction from abroad. Operational evaluation method and index criteria system of enterprises technology innovation ability were put forward in this paper, different enterprises may revise the model according to their actual situations to evaluate the enterprise technological innovation ability scientifically and quickly. The findings will be helpful to correlative departments to formulate the related policies and also has important theoretical and practical value in technological innovation project of enterprise.

Thoughts on Stimulating the Employee’s Work Efficiency in State-Owned Enterprises

State-owned enterprises are the basic guarantee of China’s economic and social development,the leading force in the field of strategic competition,but also the main provider of national social wealth accumulation.Although in many strategic areas,the operating efficiency of state-owned enterprises cannot be simply measured by the input profit margin;state-owned enterprises use state and social resources to operate.Shouldering the responsibility of preserving and increasing the value of state-owned assets also is the responsibility of all state-owned enterprise managers and employees.However,the management efficiency of state-owned enterprises is relatively low,and employees’performance management and incentives have been lack of innovation and improvement.This paper analyzes the current state-owned enterprises in China,the characteristics of performance management,as well as the problems faced,and discusses the measures to encourage the efficiency of state-owned enterprises employees.

Construction of Customized Bio Incubator and Designing of Tailored Scaffolds for Bone Tissue Engineering from Laboratory Scale Up to Clinical Scale

In order to obtain larger,clinical-scale and practical-scale bone grafts,we have designed both tailored scaffolds and tailored bio incubator with optimal bio-production characteristics.Using DIC files to Simpleware Scan-IP(Simple-ware-exeter United Kingdom),we have digitally reconstructed segmental additive bone-tissue in order to perform images processing.Both hydroxyapatite and tannin composites have been used in order to get the final bone modules combined for retexturing of segmental bone defect.We have found that sectioning of bone segment deficiency reorganizations into well disk-shaped design permits one to standardize the cell culture and seeding protocol,to get better products.The present study concludes that some techniques with cultured cell in segmental bone grafts in the laboratory can be transferred and clinically used.

An Innovative Design of Incubator Structure for Cell Culture

In view of the problems of the traditional cell incubator,such as the small range of cell culture types,the inability to adjust the internal space of the incubator according to needs,and the inconvenient sampling,this study innovatively designed a cell incubator structure.It proposed a new design concept that can solve the above-mentioned shortcomings.The cell incubator after the new structural modification can adjust the internal space structure of cell culture by setting the bolt-fixed connection between the fixed plate and the vessel divider.It realizes the cultivation of various cells through refrigeration modules and heating modules.Through setting a sampling hole in the glass inner door,it is favorable for operators to take samples,making cell culture more convenient and efficient.

Earnings Management in State-Owned Enterprises in a Period of Macroeconomic Instability

The purpose of this paper is to examine whether and to what extend Greek state-owned enterprises engage in earnings management techniques during 2012-2016.Most prior studies on earnings management have used data from large economies with relative stable macroeconomic contexts(e.g.,USA).Our knowledge about earnings management in smaller economies is rather limited.To fill this void,we conducted our study in Greece and focused on the abovementioned period,which is very interesting given that Greece experienced a substantial political and macroeconomic instability(e.g.,four elections,one referendum,capital controls,and two memorandums).Two different models(i.e.,The Earnings Distribution Model and the Modified Jones Model)are used to provide answers to the research questions.The sample is composed of 50 state-owned enterprises.The results show that Greek state-owned enterprises did not adopt any earnings management techniques during the examined period.These results are rather robust given that they come from two different models.According to the literature,macroeconomic and political instability provide incentives to managers to use earnings management techniques.Interestingly though,our results suggest that this is not the case for a smaller economy.The findings of this study will allow investors,auditors,and users of the financial statements to make better decisions when studying companies that are experiencing those difficulties.The adoption of two different methods and the similar results is an indication of more robust and valid findings.