Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincia...Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincial panel data from 2016 to 2019 to study the impact mechanism of R&D investment on green technology innovation,and introduces the level of digitization,using the panel threshold model to discuss its role in the impact mechanism of R&D investment on green technology innovation.The study found that when the level of digitalization in a region is low,increasing R&D investment does not necessarily improve the ability of green technology innovation;when the level of digitalization is relatively high,R&D investment has a positive role in promoting green technology innovation.Therefore,it is necessary to improve policies to encourage enterprises to increase investment in research and development;at the same time,it is necessary to promote the coordinated development of digital foundation,digital investment,digital literacy,digital economy and digital application,and promote the deep integration of digitalization and green technology innovation.展开更多
Objective To study the threshold effect of export trade on internal and external R&D investment in China’s pharmaceutical industry,and to provide reference for some pharmaceutical enterprises to improve the inves...Objective To study the threshold effect of export trade on internal and external R&D investment in China’s pharmaceutical industry,and to provide reference for some pharmaceutical enterprises to improve the investment.Methods The panel data of pharmaceutical industry in 25 provinces and cities in China from 2009 to 2019 were selected to conduct empirical analysis by establishing a threshold regression model,and a better export trade interval was obtained.Results and Conclusion There is a threshold value for the effect of new product export on both internal and external R&D expenditures,and the threshold values are 845.2788 million yuan and 318.4198 million yuan,respectively.There is a single threshold effect of export trade on both internal and external R&D investment in China’s pharmaceutical industry,and the effect of export trade on internal and external R&D investment changes from negative to positive as the export trade develops from low to high.展开更多
As a new type of lightweight structure,metallic lattice structure has higher stiffness and strength to weight ratio.To freely obtain 316L lattice structures with designed cell structure and adjustable porosity,additiv...As a new type of lightweight structure,metallic lattice structure has higher stiffness and strength to weight ratio.To freely obtain 316L lattice structures with designed cell structure and adjustable porosity,additive manufacturing combined with investment casting was conducted to fabricate the 316L lattice structures with Kelvin cell.The compression simulation of 316L lattice structures with different porosities was carried out by using the finite element method.The numerical simulation results were verified by compression experiment,and the simulated results were consistent with the compression tests.The compressive mechanical properties of 316L lattice structures are directly related to porosity and independent of strut diameters.The 316L lattice structures with Kelvin cell have a smooth stress-strain curve and obvious plastic platform,and the hump stress-strain curves are avoided.展开更多
Much research has been devoted to examination of the financial easing policy of the European Central Bank(ECB).However,this study is one of the first to use a dynamic micro-founded model to investigate empirically the...Much research has been devoted to examination of the financial easing policy of the European Central Bank(ECB).However,this study is one of the first to use a dynamic micro-founded model to investigate empirically the impact of the ECB’s Quantitative Easing(QE)policy on consumption and investment by economic agents in Italy(households,government,firms,and the rest of the world).For this purpose,we constructed a Financial Social Accounting Matrix(FSAM)for the Italian economy for the year 2009 to calibrate a dynamic computable general equilibrium model(DCGE).This model allowed us to evaluate the direct and indirect impact of money flow on the behavior of consumption and investment.The findings of the study confirmed the positive impact of the ECB’s monetary policy on the level of investment and consumption.展开更多
This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions b...This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions between 1994 and 2011.Theoretical research indicates that as a transitional economy,China's local government intervention in corporate investment behaviors will cause excessive investment,thus bringing about a long-term and sustained tendency of capital deepening in manufacturing sector.Empirical test further discovers that in a certain range,the phenomenon of capital deepening in manufacturing sector is not an inevitable result endogenous to economic development and technology progress,and that investment behaviors of manufacturing sector are largely subject to the external institutional environment.Fiscal decentralization has indeed promoted capital deepening of manufacturing sector.Financial credit expansion and interventions in SOEs are major instruments for local governments to intervene in the capital deepening of manufacturing sector and such an influence is particularly significant for China's central,western and northeast regions.Therefore,clarifying government functions and improving local government performance review mechanism are of great significance to the healthy development of China's manufacturing sector.展开更多
Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person's...Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person's psychological characteristics as variables studied financial market vision, such as asset pricing and portfolio a series of questions theoretical system. In this paper, from home and abroad on behavioral finance theory, based on the current situation in our country from the company's investment policy analysis behavioral finance theory in corporate finance in the application, in order for some of our corporate decision makers to provide a non-decision against the company fully rational and non-efficient market investment strategy.展开更多
Promoting agricultural modernisation through technological change is an important strategy for China.China's carbon neutrality strategy is leading to systemic socio-economic changes that could exacerbate the uncer...Promoting agricultural modernisation through technological change is an important strategy for China.China's carbon neutrality strategy is leading to systemic socio-economic changes that could exacerbate the uncertainty of agricultural development.Therefore,applying a computable general equilibrium(CGE)model,this study characterises the agricultural sector in detail,introducing endogenous technological change proxied by research and development(R&D)to assess the impact of different technological change scenarios on agricultural development under the carbon neutrality target.The results show that allocating carbon revenue for R&D inputs can mitigate the significant negative impact of achieving carbon neutrality on knowledge capital and production in agricultural sectors.Overall,using carbon revenue only for R&D input in crop sectors has the optimal effect on increasing the agricultural sectors'knowledge capital,improving crop production and profit,reducing crop external dependence and promoting the synergistic reduction of carbon and pollutant emissions.However,this scenario has the largest negative impact on macro-economics and household welfare.In contrast,allocating carbon revenue to promote technological change in broader non-energy sectors or both crops and non-energy sectors can effectively mitigate negative socio-economic impacts,but the positive impact on agricultural development is minimal.These findings provide practical insights for the rational use of carbon revenue to expand agricultural R&D investment and ensure balanced agricultural and economic development under the carbon neutrality target.展开更多
This article explores the effects of investment upon energy intensity by applying a unique panel data of China's 27 provinces between 2004 and 2013.In addition,it also particularly stuthes other factors,such as en...This article explores the effects of investment upon energy intensity by applying a unique panel data of China's 27 provinces between 2004 and 2013.In addition,it also particularly stuthes other factors,such as energy price,economic structure,and urbanization.The results,based on four econometric regression model results,suggest that in general,the indigenous investment on research and development is a more powerful tool to decrease China's energy intensity regardless of region disparity.The foreign direct investment(FDI) has a prominent but not persistent effect on energy intensity.However,the outward direct investment has not shown its significant impact on energy intensity.At the level of an aggregate economy and China's eastern region,the results demonstrate that FDI improves energy efficiency significantly.For the central and western provinces,FDI does not support the similar conclusion.Based on these analyses,we present the corresponding regional policies for policymakers.展开更多
In the process of industrialization, China has been a big agricultural country, and the agricultural sector's economic activities have been playing important role in economic growth. This paper established the invest...In the process of industrialization, China has been a big agricultural country, and the agricultural sector's economic activities have been playing important role in economic growth. This paper established the investment behavior model of agricultural enterprises on the basis of Chinese practice. And then, the model presented the important factors impacting on investment, such as financing cost, wage, and policy factors, etc. Thirdly, this paper in particular used R-studio to estimate the impact of fmancing cost and policy factor on investment and capital accumulation of primary industry sector by gathering the data from 2003 to 2013. The results showed that the official interest rate of loans of financial institutions could be the proxy variable as the financing cost of agricultural enterprises, and the employment level of agricultural enterprises had negative impact on investment. Finally, this paper provided some explanations and suggestions on the basis of above results.展开更多
Taking 20 relative poor families in Hechuan District of Chongqing Municipality as survey samples,taking 275 households of rural families selected by stratified sampling method as research objects,and taking family edu...Taking 20 relative poor families in Hechuan District of Chongqing Municipality as survey samples,taking 275 households of rural families selected by stratified sampling method as research objects,and taking family education investment behavior of this rural area as research content,this paper studied current situations of rural family education investment behavior in Hechuan District,difference in investment behavior and related influence factors. It is intended to provide references for family education investment of rural areas in Hechuan District and even Chongqing Municipality,and promote development of rural education undertaking in China.展开更多
Objective To study the relationship between export orientation and research and development(R&D)investment so as to provide suggestions and references for improving the R&D investment level and innovation capa...Objective To study the relationship between export orientation and research and development(R&D)investment so as to provide suggestions and references for improving the R&D investment level and innovation capabilities of pharmaceutical industry due to the progress of globalization and the continuous development of export trade of China’s pharmaceutical industry.Methods The relevant data of China’s pharmaceutical industry from 2001 to 2016 was selected to establish an error correction model based on the co-integration theory,and then the Granger causality test was conducted to determine the relationship between the export orientation and R&D investment of China’s pharmaceutical industry in different regions.Results and Conclusion It is found that the export orientation of the pharmaceutical industry in different regions has a significant negative impact on the investment of R&D.Among them,the middle region has the greatest impact,followed by the eastern and western regions.The export orientation of the pharmaceutical industry in the middle region has a lag effect on R&D investment,and the lag phase is two years.展开更多
The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irr...The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irreversibility of the sunk cost, but also takes the competitors' erode to the project value into it. Relax the EMH and the rationality of the investor's hypothesis, integrate the behavioral finance theory and the game option, and construct the valuing frame based on the behavioral finance and game option theory to make a scientific and effective project decision-making approach.展开更多
To reveal the quantitative relationship between research and development (R&D) investment and gross domestic product (GDP) in China, we have demonstrated and analyzed the relationship between R&D investment an...To reveal the quantitative relationship between research and development (R&D) investment and gross domestic product (GDP) in China, we have demonstrated and analyzed the relationship between R&D investment and science and technology (S&T) progress, and based on a mount of S&T statistical data, have proceeded demonstration research of the relationship between R&D investment and GDP in China with Solow and vector auto regression (VAR) models. Cubic curve fitting and cross-correlation analysis of them with SPSS have shown that there is a strong synchronic relationship between R&D investment and GDP.展开更多
Investment helps companies achieve innovation. Efficient investments often do more with less. Manufacturing enterprises should pay more attention to the issue of investment efficiency, seize investment opportunities a...Investment helps companies achieve innovation. Efficient investments often do more with less. Manufacturing enterprises should pay more attention to the issue of investment efficiency, seize investment opportunities and achieve efficient investment. Due to the continuous increase of borrowing costs in the financial markets, enterprises are getting more and more difficult to raise funds from the outside, so more and more enterprises are turning their attention to the financially redundant resources within the enterprises. Making good use of financially redundant resources will help enterprises solve the financing difficulties and enable them to have sufficient funds for investment activities and lay the foundation for sustainable development.展开更多
How do start-ups enhance risk tolerance and core competition through product,technology,and service development?What is the relationship between the core competitiveness of start-ups and R&D investments?Based on t...How do start-ups enhance risk tolerance and core competition through product,technology,and service development?What is the relationship between the core competitiveness of start-ups and R&D investments?Based on the perspective of entrepreneurial ability,222 questionnaires were used to study the factors affecting the risk tolerance of start-ups and analyze the effect of risk tolerance on R&D investments.The research shows that the interactions of entrepreneur ability and start-up funds have a positive effect on the risk tolerance of start-ups,and the risk tolerance can positively promote R&D investment willingness and intensity for new products,technologies,and services.Also,R&D investment willingness plays a partial intermediary role between the risk tolerance of start-ups and the intensity of R&D investments.展开更多
In recent years, China has promulgated many laws and regulations of environmental protection, gradually forming an environmental regulation system, and most enterprises are under the dual pressure of environmental pro...In recent years, China has promulgated many laws and regulations of environmental protection, gradually forming an environmental regulation system, and most enterprises are under the dual pressure of environmental protection and business performance. It would be a significant way that enterprises undertake R&D activities for a change. This paper is based on the Shanghai and Shenzhen A-share listed heavy pollution enterprises in 2011-2016, which is based on the review and summary of research results of former researchers, combining with current environmental regulation situation of our country, raising the relevant hypothesis between environmental regulations, R&D investment and business performance against heavy pollution industry. Adopting the method of empirical research, it also built the linear regression model which employs the relevant financial data of heavy-polluting enterprises in China as the statistical research sample. The relationship for heavy-polluting enterprises affected by environmental regulations between environmental protection R&D investment and enterprise business performance was tested. The results show that there is a positive influence on the environmental R&D investment and business performance, and a lag effect upon the R&D investment of enterprises to business performance. Finally, the research results were used to evaluates problems existing in the R&D investment on pollution industry in China as well as business performance and we put forward some suggestions on improving environmental regulation standards and technology innovation consciousness as well as optimizing the structure of R&D investment.展开更多
Objective To explore the relationship between salary incentives for R&D personnel and R&D investment in China’s pharmaceutical industry through an empirical analysis so as to propose suggestions for increasin...Objective To explore the relationship between salary incentives for R&D personnel and R&D investment in China’s pharmaceutical industry through an empirical analysis so as to propose suggestions for increasing more R&D investment from the perspective of stimulating R&D personnel.Methods Based on the relevant data of the China’s pharmaceutical industry in the“China High-tech Industry Statistical Yearbook”and other data from the National Bureau of Statistics from 1995 to 2018,co-integration tests was used to construct error correction models and Granger causality tests to explore the relationship between R&D personnel salary incentives and R&D investment.Results and Conclusion There is a long-term balanced relationship between the salary level of R&D personnel in China’s pharmaceutical industry and the investment of R&D.For the per capita salary of R&D personnel increases by 1 unit,the internal expenditure of R&D investment will increase by 2.2451 units.In the short term,the per capita salary of R&D personnel has a slight negative impact on the internal expenditure of R&D investment.In addition,the salary incentives for R&D personnel have the most significant role in promoting R&D investment after five years of implementation.展开更多
Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 19...Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 1995 to 2016 were selected to establish a vector auto-regression mode,and then an impulse response function and variance decomposition were used to analyze the data.Results and Conclusion For large-scale pharmaceutical enterprises,1%increase in R&D input will lead to 0.792%increase of their main business profit.For medium-sized enterprises,if their main business profit increases by 1%,their R&D input will increase by 0.965%.Therefore,if their R&D input increases by 1%,their main business profit will increase by 1.036%.The improvement of the profitability of large-scale pharmaceutical enterprises cannot promote the increase of R&D capital investment.But the increase of profitability from medium-sized enterprises can promote the increase of R&D capital investment.As a result,the increase of R&D capital investment of large and medium-sized enterprises can improve corporate profitability.展开更多
文摘Green technology innovation is an important driving force and source to promote my country’s high-quality development,and it is the core path to achieve sustainable development.This paper uses my country’s provincial panel data from 2016 to 2019 to study the impact mechanism of R&D investment on green technology innovation,and introduces the level of digitization,using the panel threshold model to discuss its role in the impact mechanism of R&D investment on green technology innovation.The study found that when the level of digitalization in a region is low,increasing R&D investment does not necessarily improve the ability of green technology innovation;when the level of digitalization is relatively high,R&D investment has a positive role in promoting green technology innovation.Therefore,it is necessary to improve policies to encourage enterprises to increase investment in research and development;at the same time,it is necessary to promote the coordinated development of digital foundation,digital investment,digital literacy,digital economy and digital application,and promote the deep integration of digitalization and green technology innovation.
基金Research on Innovation and Development Strategy of Pharmaceutical Industry in Liaoning Province(2020lslktyb-095).
文摘Objective To study the threshold effect of export trade on internal and external R&D investment in China’s pharmaceutical industry,and to provide reference for some pharmaceutical enterprises to improve the investment.Methods The panel data of pharmaceutical industry in 25 provinces and cities in China from 2009 to 2019 were selected to conduct empirical analysis by establishing a threshold regression model,and a better export trade interval was obtained.Results and Conclusion There is a threshold value for the effect of new product export on both internal and external R&D expenditures,and the threshold values are 845.2788 million yuan and 318.4198 million yuan,respectively.There is a single threshold effect of export trade on both internal and external R&D investment in China’s pharmaceutical industry,and the effect of export trade on internal and external R&D investment changes from negative to positive as the export trade develops from low to high.
基金supported by the Technology Development Fund of the China Academy of Machinery Science and Technology(No.170221ZY01).
文摘As a new type of lightweight structure,metallic lattice structure has higher stiffness and strength to weight ratio.To freely obtain 316L lattice structures with designed cell structure and adjustable porosity,additive manufacturing combined with investment casting was conducted to fabricate the 316L lattice structures with Kelvin cell.The compression simulation of 316L lattice structures with different porosities was carried out by using the finite element method.The numerical simulation results were verified by compression experiment,and the simulated results were consistent with the compression tests.The compressive mechanical properties of 316L lattice structures are directly related to porosity and independent of strut diameters.The 316L lattice structures with Kelvin cell have a smooth stress-strain curve and obvious plastic platform,and the hump stress-strain curves are avoided.
文摘Much research has been devoted to examination of the financial easing policy of the European Central Bank(ECB).However,this study is one of the first to use a dynamic micro-founded model to investigate empirically the impact of the ECB’s Quantitative Easing(QE)policy on consumption and investment by economic agents in Italy(households,government,firms,and the rest of the world).For this purpose,we constructed a Financial Social Accounting Matrix(FSAM)for the Italian economy for the year 2009 to calibrate a dynamic computable general equilibrium model(DCGE).This model allowed us to evaluate the direct and indirect impact of money flow on the behavior of consumption and investment.The findings of the study confirmed the positive impact of the ECB’s monetary policy on the level of investment and consumption.
基金funded by Humanities and Social Sciences Research Youth Foundation Program of the Ministry of Education:Challenges of Workforce Absorption of Manufacturing Sector and Solutions-Perspective Based on Capital Deepening(Approval No.12YJC790034)
文摘This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions between 1994 and 2011.Theoretical research indicates that as a transitional economy,China's local government intervention in corporate investment behaviors will cause excessive investment,thus bringing about a long-term and sustained tendency of capital deepening in manufacturing sector.Empirical test further discovers that in a certain range,the phenomenon of capital deepening in manufacturing sector is not an inevitable result endogenous to economic development and technology progress,and that investment behaviors of manufacturing sector are largely subject to the external institutional environment.Fiscal decentralization has indeed promoted capital deepening of manufacturing sector.Financial credit expansion and interventions in SOEs are major instruments for local governments to intervene in the capital deepening of manufacturing sector and such an influence is particularly significant for China's central,western and northeast regions.Therefore,clarifying government functions and improving local government performance review mechanism are of great significance to the healthy development of China's manufacturing sector.
文摘Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person's psychological characteristics as variables studied financial market vision, such as asset pricing and portfolio a series of questions theoretical system. In this paper, from home and abroad on behavioral finance theory, based on the current situation in our country from the company's investment policy analysis behavioral finance theory in corporate finance in the application, in order for some of our corporate decision makers to provide a non-decision against the company fully rational and non-efficient market investment strategy.
基金supported by the National Natural Science Foundation of China[Grant No.72204234,72074022]the National Social Science Foundation of China[Grant No.22AZD094]the project for Carbon Neutral General Knowledge Course Construction of China University of Geosciences.
文摘Promoting agricultural modernisation through technological change is an important strategy for China.China's carbon neutrality strategy is leading to systemic socio-economic changes that could exacerbate the uncertainty of agricultural development.Therefore,applying a computable general equilibrium(CGE)model,this study characterises the agricultural sector in detail,introducing endogenous technological change proxied by research and development(R&D)to assess the impact of different technological change scenarios on agricultural development under the carbon neutrality target.The results show that allocating carbon revenue for R&D inputs can mitigate the significant negative impact of achieving carbon neutrality on knowledge capital and production in agricultural sectors.Overall,using carbon revenue only for R&D input in crop sectors has the optimal effect on increasing the agricultural sectors'knowledge capital,improving crop production and profit,reducing crop external dependence and promoting the synergistic reduction of carbon and pollutant emissions.However,this scenario has the largest negative impact on macro-economics and household welfare.In contrast,allocating carbon revenue to promote technological change in broader non-energy sectors or both crops and non-energy sectors can effectively mitigate negative socio-economic impacts,but the positive impact on agricultural development is minimal.These findings provide practical insights for the rational use of carbon revenue to expand agricultural R&D investment and ensure balanced agricultural and economic development under the carbon neutrality target.
基金supported by the Fundamental Research Funds for the Central Universities:[Grant Number JBK1607K05]
文摘This article explores the effects of investment upon energy intensity by applying a unique panel data of China's 27 provinces between 2004 and 2013.In addition,it also particularly stuthes other factors,such as energy price,economic structure,and urbanization.The results,based on four econometric regression model results,suggest that in general,the indigenous investment on research and development is a more powerful tool to decrease China's energy intensity regardless of region disparity.The foreign direct investment(FDI) has a prominent but not persistent effect on energy intensity.However,the outward direct investment has not shown its significant impact on energy intensity.At the level of an aggregate economy and China's eastern region,the results demonstrate that FDI improves energy efficiency significantly.For the central and western provinces,FDI does not support the similar conclusion.Based on these analyses,we present the corresponding regional policies for policymakers.
文摘In the process of industrialization, China has been a big agricultural country, and the agricultural sector's economic activities have been playing important role in economic growth. This paper established the investment behavior model of agricultural enterprises on the basis of Chinese practice. And then, the model presented the important factors impacting on investment, such as financing cost, wage, and policy factors, etc. Thirdly, this paper in particular used R-studio to estimate the impact of fmancing cost and policy factor on investment and capital accumulation of primary industry sector by gathering the data from 2003 to 2013. The results showed that the official interest rate of loans of financial institutions could be the proxy variable as the financing cost of agricultural enterprises, and the employment level of agricultural enterprises had negative impact on investment. Finally, this paper provided some explanations and suggestions on the basis of above results.
文摘Taking 20 relative poor families in Hechuan District of Chongqing Municipality as survey samples,taking 275 households of rural families selected by stratified sampling method as research objects,and taking family education investment behavior of this rural area as research content,this paper studied current situations of rural family education investment behavior in Hechuan District,difference in investment behavior and related influence factors. It is intended to provide references for family education investment of rural areas in Hechuan District and even Chongqing Municipality,and promote development of rural education undertaking in China.
文摘Objective To study the relationship between export orientation and research and development(R&D)investment so as to provide suggestions and references for improving the R&D investment level and innovation capabilities of pharmaceutical industry due to the progress of globalization and the continuous development of export trade of China’s pharmaceutical industry.Methods The relevant data of China’s pharmaceutical industry from 2001 to 2016 was selected to establish an error correction model based on the co-integration theory,and then the Granger causality test was conducted to determine the relationship between the export orientation and R&D investment of China’s pharmaceutical industry in different regions.Results and Conclusion It is found that the export orientation of the pharmaceutical industry in different regions has a significant negative impact on the investment of R&D.Among them,the middle region has the greatest impact,followed by the eastern and western regions.The export orientation of the pharmaceutical industry in the middle region has a lag effect on R&D investment,and the lag phase is two years.
文摘The traditional DCF approach ignoring the managerial flexibility of the decision makers often underestimates the value of project value. This paper not only takes into account the uncertainty of investment and the irreversibility of the sunk cost, but also takes the competitors' erode to the project value into it. Relax the EMH and the rationality of the investor's hypothesis, integrate the behavioral finance theory and the game option, and construct the valuing frame based on the behavioral finance and game option theory to make a scientific and effective project decision-making approach.
文摘To reveal the quantitative relationship between research and development (R&D) investment and gross domestic product (GDP) in China, we have demonstrated and analyzed the relationship between R&D investment and science and technology (S&T) progress, and based on a mount of S&T statistical data, have proceeded demonstration research of the relationship between R&D investment and GDP in China with Solow and vector auto regression (VAR) models. Cubic curve fitting and cross-correlation analysis of them with SPSS have shown that there is a strong synchronic relationship between R&D investment and GDP.
文摘Investment helps companies achieve innovation. Efficient investments often do more with less. Manufacturing enterprises should pay more attention to the issue of investment efficiency, seize investment opportunities and achieve efficient investment. Due to the continuous increase of borrowing costs in the financial markets, enterprises are getting more and more difficult to raise funds from the outside, so more and more enterprises are turning their attention to the financially redundant resources within the enterprises. Making good use of financially redundant resources will help enterprises solve the financing difficulties and enable them to have sufficient funds for investment activities and lay the foundation for sustainable development.
文摘How do start-ups enhance risk tolerance and core competition through product,technology,and service development?What is the relationship between the core competitiveness of start-ups and R&D investments?Based on the perspective of entrepreneurial ability,222 questionnaires were used to study the factors affecting the risk tolerance of start-ups and analyze the effect of risk tolerance on R&D investments.The research shows that the interactions of entrepreneur ability and start-up funds have a positive effect on the risk tolerance of start-ups,and the risk tolerance can positively promote R&D investment willingness and intensity for new products,technologies,and services.Also,R&D investment willingness plays a partial intermediary role between the risk tolerance of start-ups and the intensity of R&D investments.
基金supported by Jiangsu University Philosophical and Social Science Research Projects (Grant No. 2014SJB4442014)
文摘In recent years, China has promulgated many laws and regulations of environmental protection, gradually forming an environmental regulation system, and most enterprises are under the dual pressure of environmental protection and business performance. It would be a significant way that enterprises undertake R&D activities for a change. This paper is based on the Shanghai and Shenzhen A-share listed heavy pollution enterprises in 2011-2016, which is based on the review and summary of research results of former researchers, combining with current environmental regulation situation of our country, raising the relevant hypothesis between environmental regulations, R&D investment and business performance against heavy pollution industry. Adopting the method of empirical research, it also built the linear regression model which employs the relevant financial data of heavy-polluting enterprises in China as the statistical research sample. The relationship for heavy-polluting enterprises affected by environmental regulations between environmental protection R&D investment and enterprise business performance was tested. The results show that there is a positive influence on the environmental R&D investment and business performance, and a lag effect upon the R&D investment of enterprises to business performance. Finally, the research results were used to evaluates problems existing in the R&D investment on pollution industry in China as well as business performance and we put forward some suggestions on improving environmental regulation standards and technology innovation consciousness as well as optimizing the structure of R&D investment.
基金Research on Innovation and Development Strategy of Pharmaceutical Industry in Liaoning Province(No.2020lslktyb-095).
文摘Objective To explore the relationship between salary incentives for R&D personnel and R&D investment in China’s pharmaceutical industry through an empirical analysis so as to propose suggestions for increasing more R&D investment from the perspective of stimulating R&D personnel.Methods Based on the relevant data of the China’s pharmaceutical industry in the“China High-tech Industry Statistical Yearbook”and other data from the National Bureau of Statistics from 1995 to 2018,co-integration tests was used to construct error correction models and Granger causality tests to explore the relationship between R&D personnel salary incentives and R&D investment.Results and Conclusion There is a long-term balanced relationship between the salary level of R&D personnel in China’s pharmaceutical industry and the investment of R&D.For the per capita salary of R&D personnel increases by 1 unit,the internal expenditure of R&D investment will increase by 2.2451 units.In the short term,the per capita salary of R&D personnel has a slight negative impact on the internal expenditure of R&D investment.In addition,the salary incentives for R&D personnel have the most significant role in promoting R&D investment after five years of implementation.
基金Research on Innovation and Development Strategy of Pharmaceutical Industry in Liaoning Province(No.2020lslktyb-095).
文摘Objective To analyze the relationship between the profitability of pharmaceutical enterprises of different scales and their R&D investment.Methods The data of China’s pharmaceutical manufacturing industry from 1995 to 2016 were selected to establish a vector auto-regression mode,and then an impulse response function and variance decomposition were used to analyze the data.Results and Conclusion For large-scale pharmaceutical enterprises,1%increase in R&D input will lead to 0.792%increase of their main business profit.For medium-sized enterprises,if their main business profit increases by 1%,their R&D input will increase by 0.965%.Therefore,if their R&D input increases by 1%,their main business profit will increase by 1.036%.The improvement of the profitability of large-scale pharmaceutical enterprises cannot promote the increase of R&D capital investment.But the increase of profitability from medium-sized enterprises can promote the increase of R&D capital investment.As a result,the increase of R&D capital investment of large and medium-sized enterprises can improve corporate profitability.