There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of...There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of state assets without resolving the problem. This paper examined how performance evaluation system contributed to the innovation and profitability of central SOEs after the implementation of the revised Interim Measures for Assessment of the Operational Performance of Persons in Charge of Central Enterprises in 2009. Using this revision as a natural experiment, this paper conducted a difference-indifference analysis and discovered a significant improvement in the innovation of central SOEs after the implementation of the new policy as compared with private firms not affected by this system. Moreover, the revised performance evaluation system significantly improved the marginal contribution of innovation to corporate value. The above test result indicates that SOEs may become more efficient solely by altering executive incentives without privatization. In this sense, privatization may not be the only solution to SOE inefficiency. This paper offers theoretical insights on the controversies regarding SOE privatization and helps enrich relevant literature on corporate incentives and innovation.展开更多
A protocol for quantum private comparison of equality(QPCE) is proposed based on five-particle cluster state with the help of a semi-honest third party(TP). In our protocol, TP is allowed to misbehave on its own but c...A protocol for quantum private comparison of equality(QPCE) is proposed based on five-particle cluster state with the help of a semi-honest third party(TP). In our protocol, TP is allowed to misbehave on its own but can not conspire with either of two parties. Compared with most two-user QPCE protocols, our protocol not only can compare two groups of private information(each group has two users) in one execution, but also compare just two private information. Compared with the multi-user QPCE protocol proposed, our protocol is safer with more reasonable assumptions of TP. The qubit efficiency is computed and analyzed. Our protocol can also be generalized to the case of 2N participants with one TP. The 2N-participant protocol can compare two groups(each group has N private information)in one execution or just N private information.展开更多
基金supported by the National Natural Science Foundation of China(Grant No.:71172205,71372126,71502161,71572133 and 71672134)the Humanities and Social Science Project of the Ministry of Education(Grant No.:15YJA630057)
文摘There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of state assets without resolving the problem. This paper examined how performance evaluation system contributed to the innovation and profitability of central SOEs after the implementation of the revised Interim Measures for Assessment of the Operational Performance of Persons in Charge of Central Enterprises in 2009. Using this revision as a natural experiment, this paper conducted a difference-indifference analysis and discovered a significant improvement in the innovation of central SOEs after the implementation of the new policy as compared with private firms not affected by this system. Moreover, the revised performance evaluation system significantly improved the marginal contribution of innovation to corporate value. The above test result indicates that SOEs may become more efficient solely by altering executive incentives without privatization. In this sense, privatization may not be the only solution to SOE inefficiency. This paper offers theoretical insights on the controversies regarding SOE privatization and helps enrich relevant literature on corporate incentives and innovation.
基金Supported by NSFC under Grant Nos.61402058,61572086the Fund for Middle and Young Academic Leaders of CUIT under Grant No.J201511+2 种基金the Science and Technology Support Project of Sichuan Province of China under Grant No.2013GZX0137the Fund for Young Persons Project of Sichuan Province of China under Grant No.12ZB017the Foundation of Cyberspace Security Key Laboratory of Sichuan Higher Education Institutions under Grant No.szjj2014-074
文摘A protocol for quantum private comparison of equality(QPCE) is proposed based on five-particle cluster state with the help of a semi-honest third party(TP). In our protocol, TP is allowed to misbehave on its own but can not conspire with either of two parties. Compared with most two-user QPCE protocols, our protocol not only can compare two groups of private information(each group has two users) in one execution, but also compare just two private information. Compared with the multi-user QPCE protocol proposed, our protocol is safer with more reasonable assumptions of TP. The qubit efficiency is computed and analyzed. Our protocol can also be generalized to the case of 2N participants with one TP. The 2N-participant protocol can compare two groups(each group has N private information)in one execution or just N private information.
