How R&D investment promotes green technology innovation in the context of digitalization?-An empirical analysis based on provincial panel data

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.

Research on the Threshold Effect of China’s Pharmaceutical Export Trade on Internal and External R&D Investment

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.

Extremely thin but very robust:Surprising cryptogam trait combinations at the end of the leaf economics spectrum

Leaf economics spectrum(LES)describes the fundamental trade-offs between leaf structural,chemical,and physiological investments.Generally,structurally robust thick leaves with high leaf dry mass per unit area(LMA)exhibit lower photosynthetic capacity per dry mass(Amass).Paradoxically,“soft and thinleaved”mosses and spikemosses have very low Amass,but due to minute-size foliage elements,their LMA and its components,leaf thickness(LT)and density(LD),have not been systematically estimated.Here,we characterized LES and associated traits in cryptogams in unprecedented details,covering five evolutionarily different lineages.We found that mosses and spikemosses had the lowest LMA and LT values ever measured for terrestrial plants.Across a broad range of species from different lineages,Amass and LD were negatively correlated.In contrast,Amass was only related to LMA when LMA was greater than 14 g cm^(-2).In fact,low Amass reflected high LD and cell wall thickness in the studied cryptogams.We conclude that evolutionarily old plant lineages attained poorly differentiated,ultrathin mesophyll by increasing LD.Across plant lineages,LD,not LMA,is the trait that represents the trade-off between leaf robustness and physiology in the LES.

Compression behavior of 316L lattice structures produced by indirect additive manufacturing

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.

Analysis and forecasts of investment scale and structure in upstream sector for oil companies based on system dynamics

Oil and gas exploration and production is the most important and key segment in the whole business chain of the petroleum industry.Therefore,oil companies always put much emphasis on making scientific and reasonable decisions about investment scale and structure in the upstream sector,so that they can minimise business risks and obtain high returns.According to the system dynamics theories and methods and based on the actual results from an oil company＇s practice in China,a system dynamics model is built in this paper for analyzing and forecasting the upstream investment scale and structure for an oil company.This model was used to analyze the investment effect of a large oil company in China, and the results showed that the total upstream investment scale will decline slowly in a short period and the investment proportion of different parts should be adjusted if some influencing factors are taken into account.This application practice was compared with the actual data and indicated that the system dynamics（SD） model presented in this paper is a useful tool for analyzing and forecasting of upstream investment scale and structure of oil companies in their investment decisions.

REGIONAL STRUCTURE OF CAPITAL MARKET OF FOREIGN DIRECT INVESTMENT IN CHINA’S MAINLAND

Since China's reform and open door, the countries and regions of direct investment in China's mainland have been increasing. In 1995, the amount of foreign direct investment (FDI) in China was US$ 37.81 billion that was from more than 170 countries and regions. The regional structure of capital market of FDI in China has three characteristics: (1) The most of FDI was from the near countries or regions, Hong Kong Macao, Taiwan, Japan, South Korea, Thailand and Malaysia provided 80.3% of the amount of FDI in 1995. (2) Only several countries and regions provided most of FDI in China. (3) According to the contributory rate, the main capital market of FDI in China could be divided into four classes, including the guiding market, subsidiary market, new and development market, opportunity market. Most of FDI in China was from the developing countries and regions, which had a negative effect on the size and technical level of foreign capital enterprises. The author puts forward the countermeasures to improve the regional structure of capital market: (1) to keep the guiding market stable, (2) to open up chiefly the subsidiary market, (3) to guide actively the new and developing market, (4) to try hard to start the opportunity market.

Optimum Environmental Load Design Criterion for Marine Structures Based on Investment and Benefit Analysis

Marine structures operating in natural ocean environment are subjected to various stochastic loads. For design of the marine structures, the most important task is to determine environmental load design criterion. This paper presents a method to determine the optimum environmental load design criterion for marine structures. This method is based on the investment and benefit analysis and it can reach the design purpose of decreasing total costs during the service life of the structures and increasing economic benefits.

Audit Quality, Legal Systems, Investment Opportunity Set and Ownership Structure： Evidence From United States, France and Germany

This paper investigates the determinants of audit quality of three countries especially the United States, France and Germany belonging to three different legal systems. These determinants concern the legal system of country, investment opportunity set and ownership structure which have influence of audit quality.Empirical results show, initially, that specificities of legal system are positively associated with audit quality appreciated by size of audit firm. Then, the results reveal that investment opportunity set influences partially size of audit firm. Finally, ownership structure influences negatively the search for a high audit quality

Effects of Infrastructure Investment on Structural Change and Productivity Growth in China

The rapid growth of infrastructure investment is a salient feature of China’s economy since the reform and opening-up in 1978,contributing to not only the aggregate demand but also the structural change and productivity growth on the supply-side.This paper builds a multi-sector general equilibrium model to show how infrastructure investment influences structural change through price,investment and income effects,and influences productivity growth through the intensive and extensive marginal effects.By quantifying the model with China’s economy for the period 1981-2017,the paper finds that the infrastructure investment restrained the rise of services,but boosted productivity growth over the period.The policy implication is that China should ramp up infrastructure investment to increase productivity as it pursues high-quality development,but give priority to new infrastructure and public-interest infrastructure to promote industrial structural upgrade.

Analysis of Real estate investment structure optimization based on investment sources

As the investment structure of economic structure has a direct impact on the industrial structure, economic structure and thus become the focus of research. However, due to the impact of the traditional planned economy system, for a long time, our focus on the expansion of investment scale, optimize investment structure and neglect, leading to low efficiency of investment, private investment is difficult to effectively start, optimizing economic structure adjustment difficulties and other problems. The paper has got a conclusion that the target of optimization of real estate investment and ways based on the status of investment of real estate, and integration analysis for real estate investment sources.

Earnings information quality, debt maturity structure and investment efficiency

This paper studies the effect of earnings information quality and debt maturity structure and their interaction on investment efficiency. The results show that companies with higher earnings information have higher investment efficiency, and the quality of earnings information has increased investment efficiency by reducing the lack of investment and suppressing overinvestment. The companies with higher short-term debt ratio show higher investment efficiency. The results show that there is a certain substitution effect between the effect of earnings information quality and the maturity strueture of debt on the efficiency of investment.

A Study on Investment Structure of Fixed Assets and Regional Economic Growth

Nowadays,it has been in the period of rapidly developing China’s economy.Since the financial crisis in 2008,China has paid more and more attention to investing in fixed assets,and the growth rate of investing in fixed asset is also rising.However,when promoting regional economic growth,if we only pay attention to the total amount of fixed asset investment,there will inevitably exist some blindness and lack of sustainability.Therefore,the study between the investment structure of fixed assets and regional economic growth is quite important.China has a vast territory and many regions.The investment structure of fixed assets in different regions is also different,so the influence on economic growth is also different.This paper analyzes the investment structure of fixed assets and regional economic growth,and help realize the rapid growth of regional economy by recognizing the current situation of China's investment structure of fixed assets.

债务期限结构错配抑制了高科技企业R&D投入吗?——基于认证高新技术企业的经验证据

选取认证高新技术企业为样本,将债务水平与债务-资产期限结构配置纳入统一分析框架,并充分考虑两者的内生关系,考察债务期限结构错配对高科技企业R&D投入强度的影响。结果表明:债务杠杆对高科技企业后期R&D投入强度存在显著的负面影响,但影响呈减弱趋势;“短债长用”类错配对高科技企业R&D投入强度存在一定程度的正面促进作用,而“长债短用”类错配则抑制了R&D投入;债务杠杆与债务期限结构配置之间存在影响R&D投入的正面交互效应,交互效应的存在强化了债务杠杆的负面影响和债务期限错配的积极作用,采用“低杠杆”加“短债长用”错配组合,更有利于促进高科技企业R&D投入。

管理者过度自信与企业R&D投入--基于债务期限结构错配的中介作用

科技创新是提高社会生产力和综合国力的战略支撑,已经成为国家发展的必然趋势,也越来越成为国家和企业关注的焦点。文章以我国上市公司2015—2019年的数据为样本,探讨管理者过度自信对于R&D投资之间的关系,并将债务期限结构错配纳入到管理者过度自信与创新投入框架中。研究结果发现:首先,管理者过度自信显著提高了企业的创新投入;其次,管理者过度自信与债务期限结构错配显著负相关,即管理者过度自信在一定程度上可以降低企业内部的债务期限结构错配;最后,债务期限结构错配在管理者过度自信与创新投入之间具有中介作用,即过度自信的管理者能够通过降低企业的债务期限结构错配进而促进企业的创新投入。

Socio-economic and energy-environmental impacts of technological change on China's agricultural development under the carbon neutrality strategy

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.

Fabrication of silica-based ceramic cores with internal lattice structures by stereolithography

Ceramic cores are widely used in investment casting,and ideal properties of cores are essential for high-quality castings.Under the circumstances requiring thick cores,solid cores are likely to encounter deformation and cracking defects due to the accumulation of shrinkage.Therefore,with the superiority of ceramic stereolithography in producing complex ceramic parts,hollow cores with lattice structures were designed and fabricated.The dimensional accuracy and properties of the green and sintered bodies were evaluated.Results show the dimensional accuracy of sintered cores is controlled within±0.25 mm benefited from the precise green bodies.The mechanical properties are not obviously deteriorated.The bending strength reaches 11.94 MPa at room temperature and 12.87 MPa at 1,500℃ with a creep deformation of 0.345 mm.Furthermore,casting verifications prove that the hollow cores meet the requirements of investment casting.Smooth casting surfaces are obtained,at the same time,the core-removal efficiency is improved by over 3 times.

Effects of investment on energy intensity:evidence from China

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.

Savings,investment,and growth in Nepal:an empirical analysis

This study analyzes the relationship between savings,investment,and economic growth in Nepal over 1975–2016.The structural breaks in the variables have been accounted for using the(Zivot and Andrews’s,J Bus Econ Stat 10:251–2701992)unit root test along with(Gregory and Hansen’s,Oxf Bull Econ Stat 58:555–560,1996)cointegration approach.The ARDL approach to cointegration in the presence of structural breaks has also been utilized to analyze the long-and short-run dynamics of savings,investment,and growth in Nepal.The results show structural breaks in the real GDP per capita during 2001 when the Royal Massacre and a state of emergency have taken place in Nepal.After allowing for this structural break,evidence of a cointegration relationship amongst savings,investment,and economic growth was identified.The estimates of the ARDL approach suggest that investment has a significant and positive impact on economic growth.However,gross domestic savings have a negative impact on growth in the long run.These results clearly show weaknesses of the economy in mobilizing savings into productive sectors.

Reflections on Research and Development Management Innovation in Huawei Enterprises

As an advanced global provider of information and communication technology solutions,Huawei has always maintained a leading position in the ICT field and is committed to achieving a future information society and building a better fully connected world.Looking at the rapid development of Huawei,it is inseparable from its comprehensive and advanced enterprise management innovation concept,which is also one of the main reasons for helping Huawei become a world-class enterprise.“Huawei has not succeeded,it is just growing”is a famous quote from Ren Zhengfei,the main founder and president of Huawei.In the context of the rapid development of the Internet industry and information technology,enterprises must establish the concept of innovative development,implement innovation management,and create a good production and development environment.This paper analyzes the content of Huawei’s enterprise management innovation,including Huawei’s management philosophy,management mode,management status quo,and management innovation suggestions,understands and grasps the choice of enterprise management mode,learns advanced enterprise management experience,and provides reference for other enterprises to practice innovation management.

Research on the Relationship between Export Orientation and R&D Investment of China’s Pharmaceutical Industry in Different Regions

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.