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1.
《普罗米修斯》2012,30(1):11-16
How do 'new media' or Internet-related companies raise external equity capital? In this paper, I analyze two markets that entrepreneurs of private Internet-related businesses use in the US to raise equity: the venture capital market and the market for 'angel' capital. Both markets appear to be important sources of capital for private Internet-related firms. In this paper, I try to shed some light on how these markets operate with respect to investments in Internet-related companies. In particular, using data from PricewaterhouseCoopers' MoneyTree Survey, I analyze trends in venture capital investments in Internet-related companies and make comparisons with venture investments in non-Internet-related firms. In addition, I use information and data on the angel market to investigate how important the market for angel capital is likely to be as a source of capital for Internet-related businesses. In doing so I draw on ongoing and new research by myself and others into the operation of these markets. Finally, I make some cautious predictions about how the future prospects for raising money from these two sources are likely to evolve for Internet-related firms. 相似文献
2.
Structured interviews with eight leading Japanese pharmaceutical companies and industry data show that drug discovery in the Japanese companies occurs predominantly in-house. In contrast, European and US pharmaceutical companies rely more on alliances with university-based start-ups and other biotechnology companies for drug discovery. Personnel policies in the Japanese companies are still geared to on-the-job training for lifetime employment and the accumulation of company-specific tacit knowledge. Despite government policies that discouraged innovative drug development, Japanese companies are discovering innovative drugs at rates comparable to those of overseas rivals of comparable size. However, in view of the explosion of new biomedical knowledge, autarkic innovation may no longer be compatible with global competitiveness. Autarkic innovation may be a characteristic of most Japanese technology-based manufacturers. Thus, the competitive advantage of Japanese companies may be greatest in industries where innovation does not rely upon inputs from universities and independent companies. 相似文献
3.
以2008至2013年中小板民营上市公司为样本,基于政治联系的新视角研究政府补贴对民营企业研发投入的作用,实证研究发现:有政治联系的民营企业获得更多政府补贴,并且在制度环境较差的地区,民营企业更易通过政治联系获取政府补贴;有政治联系的民营企业获得的政府补贴对研发活动产生"刺激效应",即民营企业通过建立政治联系获取政府补贴是一种促进研发投入的效率行为,该结果在控制了内生性问题后依然成立。从政府的角度看,政治联系已成为政府对民营企业的一种监督机制,约束管理层滥用资金的行为,从而提高民营企业的运营效率,实现政策目标,推动国民经济发展。 相似文献
4.
本文选取2015-2018年新能源汽车产业110家上市公司面板数据,探索政府补助与市场融资及其协同配合对企业研发创新影响的差异性。结果显示,新能源汽车产业政府补助对企业研发创新具有显著激励效应,市场融资并未显著促进企业研发创新,政府补助与市场融资协同配合能有效促进新能源汽车产业研发创新。通过进一步研究发现,处于不同新能源汽车产业链阶段的企业,政府补助对中上游企业研发创新的激励效应更大,而市场融资对下游企业研发创新的激励效应更大,政府补助与市场融资协同配合对中上游企业研发创新的激励效应更大。同时,相对于国有企业,新能源汽车产业政府补助与市场融资及其两者协同配合对非国有企业研发创新的激励效应更大。本文在一定程度上丰富了创新激励与政府干预理论,并为政府扶持新能源汽车产业精准设计创新政策提供理论指导。 相似文献
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本文基于2011年至2018年新能源和同行业非新能源上市公司的面板数据实证分析了“十二五”规划之后政府补贴对新能源产业及企业的盈利能力与研发能力的影响效应。研究结果表明：新能源产业特征会使得政府补贴对盈利能力和研发能力的促进效果变得低效，且对盈利能力却变为抑制效果。从企业层面来说，政府补贴与新能源企业的盈利能力呈负相关，与研发能力呈“倒U型”关系。因此，本文认为政府应该遵从市场规律，对新能源产业实施补贴政策要市场化导向，完善补贴信息披露制度；新能源企业则应该着重提高本身的获利能力和创新成果驱动的内生增长能力。 相似文献
6.
《普罗米修斯》2012,30(2):258-266
The results of a number of studies sponsored by the Californian Commission on Industrial Innovation concerning the job generating potential of four major high technology sectors are reviewed. The prospect for increased employment opportunities may not be encouraging. Likewise a recent Melbourne based case study finds that businesses which introduce new technologies coupled with reorganisation methods (an increasingly common strategy as companies strive to remain profitable) have predominantly negative effects on employment. On this basis local economic planning proposals which rely heavily on small firm sector attempts to promote industrial innovation are regarded as suspect. Instead, it is argued, local policies designed to create jobs would do better to concentrate on community service programmes. In addition where subsidies to industrial innovation persist they should at least be directed at medium to large size locally based firms through the medium of Development Corporations or Enterprise Boards. 相似文献
7.
文章以2012年《绿色信贷指引》实施构造准自然实验,基于2010—2017年沪、深两市非金融上市公司经验数据,采用双重差分方法检验绿色信贷政策对企业创新转型的影响效应以及政府补助在其中扮演的调节作用。研究发现,整体上,绿色信贷政策促进了企业创新转型,与非重污染企业相比,绿色信贷政策对重污染企业创新强度的促进作用相对较弱;政府补助对绿色信贷政策的创新激励效应具有显著正向调节作用,这一调节作用在重污染企业与非重污染企业之间存在差异;此外,绿色信贷政策对企业创新转型的影响及政府补助的调节作用因企业产权性质、债务杠杆以及地区市场化水平差别存在异质性。本文从微观企业创新转型视角拓展绿色信贷政策效应研究,为绿色信贷政策与企业创新转型提供决策支持。 相似文献
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移动应用程序APP是移动互联网时代企业创造价值的重要渠道。尽管APP市场具有巨大的商业价值，但也出现了不少绩效较低的现象：互联网创业夭折、成交转化率低下、APP卸载率较高等等。研究APP的绩效问题有助于发现影响APP绩效的关键因素，帮助企业找到提高APP绩效的新方法。本文从服务主导逻辑出发，识别出了影响APP绩效的两大关键策略--用户赋能和服务创新，论述了这两大策略对APP收入绩效的影响机理。本文使用自然观察法跟踪和分析中国（N=200）和美国（N=206）两个样本中的APP个体，发现两个样本产生出来的结果较为一致：APP若选择赋予用户更多的权力，让用户主导平台的价值创造活动，那么它的收入绩效往往比较好；企业如果较为注重服务创新，持续地为APP开发出新特征或新服务，APP的收入绩效一般较好。本研究也可以给APP企业带来实践上的启示：首先，企业应分析APP的定位和作用；其次，企业应重视用户在价值创造中的重要作用，还要意识到用户不仅仅是APP的接受者和使用者，还是生产者和价值创造者；再次，企业应按照APP的定位，再决定是否将价值创造的主导权赋予广大用户；最后，企业应当重视APP的服务创新，持续地推出新功能和新特征，为用户提供更加便捷、易用的服务。 相似文献
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经济危机给我国民营企业带来了机遇与挑战,民营企业如何应对危机,顺应国际化转型趋势,这是我国政府与民营企业家当前必须面对的现实问题。首先探讨经济危机下我国民营企业面临生存环境的新挑战,其次解析我国民营企业国际化战略转型的动因,及我国民营企业国际化转型中的困惑,最后提出了我国民营企业国际化转型的思路。 相似文献
10.
Yonghee Cho Tugrul U. Daim Marina Dabic 《The Journal of High Technology Management Research》2017,28(2):208-220
Technological innovation plays a critical role in economic growth. The most advanced and new technologies are created by leading firms in developed countries. Global expansion, strategic outsourcing or off-shoring in leading companies has been growing to enrich their competitive advantage, while technology transfer of leading firms has been of more interest to emerging or developing countries for catching up and following the trajectory of economic growth proved in developed countries. Among various channels to acquire new technologies from leading firms, foreign direct investments (FDI) is one of the most effective channels through which technology can be transferred to subsidiaries in emerging markets. However, empirical study on the roles of technology transfer and the feedback loop from FDI remains still scarce. Thus, the purpose of this study is to analyze the effects of FDI on businesses in partial or complete foreign ownership, with a special emphasis on technology transfer, and to assess the impact of foreign companies on domestic firm performance through technology transfer from foreign companies. This paper aims at investigating the investment climate for foreign investments and intensifying technology transfers and innovations in the Croatian economy. 145 firms responded to the survey we conducted for foreign investment enterprises in Croatia. Structural equation model is employed to examine the hypotheses with respect to effects of FDI on innovation activities of domestic Croatian firms. This study identified critical factors affecting technology innovation to Croatian firms. The results provide empirical evidence that the innovation activities in subsidiaries have a positive influence toward technology transfer from multinational corporations. 相似文献
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在低碳经济时代,推动绿色创新的研究和发展是缓解我国经济增长与环境污染之间矛盾的重要途径。本文基于2012-2017年我国沪深A股上市的重污染企业的面板数据,运用零膨胀负二项回归模型,实证检验我国低碳经济背景下,政府补贴对企业绿色创新的影响,以及政治关联和环境规制在这一过程中的调节作用。实证结果表明：政府补贴对我国重污染企业绿色创新存在显著的U影响;政治关联、环境规制均会削弱该U型影响,且随着强度的升高,削弱效果愈加显著。本文的研究对促进重污染企业绿色创新,实现我国经济的可持续发展具有重要意义,也为完善我国环境保护政策提供有益参考。 相似文献
12.
政府补贴和税收优惠既是推动创新的重要政策工具,也是世界各国扶持幼稚产业的重要手段。本文选取2010—2018年中国新能源汽车产业上市公司数据,在考察两种财税政策对专利质量影响的基础上,构建面板门槛模型,从政策工具组合使用绩效分析的视角,检验政府补贴和税收优惠组合使用时对专利质量的门槛效应。研究发现：第一,两种政策均对专利质量产生了正向的激励作用,且政府补贴的激励效果更胜一筹;第二,补贴并非越多越好,而是存在一定阈值,在该阈值范围内时,税收优惠作用最佳;第三,同样,税收优惠也存在相应的阈值,当优惠超过该值时,更有利于显现政府补贴的作用,识别并充分利用该阈值,才能实现两种政策工具的最优组合。 相似文献
13.
Holger Kollmer 《Research Policy》2004,33(8):1141-1151
We investigate licensing as a commercialisation strategy for new technology-based firms (NTBFs) in the biopharmaceutical industry using a combination of survey and database research methods. We found that most firms in our sample were not fully integrated regardless of their company age which is consistent with the picture of NTBFs as agents of technology transfer. Comparing fully and not-fully integrated firms we find differences in the use of licensing strategies. According to Ford and Ryan [Harvard Business Review 59 (1981) 117] fully integrated companies apply licensing for strategic reasons and for financially unattractive projects. Our results provide partial support for this theory. 相似文献
14.
《Research Policy》2022,51(7):104539
Government R&D programs are intended to assist in the commercialization of technology and provide for the greater public good. Among the primary instruments for this type of government action are competitive grants for small, high-tech businesses. However, there is a perception among scholars and administrators that a small number of firms receive a large number of awards without furthering government objectives. The term mill is a less than complimentary term used to reference a firm that receives multiple government R&D awards. The criticism is based on a belief that this group of firms do not advance innovative technologies and do not serve the needs of the awarding agency. As a result, there are attempts to limit the number of awards that firms receive, with limited consideration of the firms themselves and the role they play in the larger innovation system. We specifically examine the U.S. Small Business Innovation Research (SBIR) program, focusing on a group of firms at the extreme tail of the distribution of awards. We consider the business model employed by these firms, their patenting and licensing behavior, and the products they introduce to the market. We also consider their impacts as incubators of spinoff firms, research environments that augment human capital, and suppliers to government through procurement. 相似文献
15.
Roger Svensson 《Research Policy》2007,36(7):1052-1069
Using a unique database on Swedish patents owned by small firms and individuals, survival models estimate how different factors influence the decision to commercialize the patents. Such an analysis has seemingly never previously been undertaken. Since the owners know more about the patents than potential external financiers, problems related to asymmetrical information are present. To overcome these problems when inventors and small technology-based firms need financing, Sweden has for a long time relied on government support rather than private venture capital firms. The empirical results show that the larger is the share of patent-owners’ costs covered by government financial support during the R&D phase, the lower is the probability of patents being commercialized. This lower degree of commercialization is likely to depend on (1) the soft terms of the government loans, where the patent owner can avoid paying back the loan if the patent is never commercialized and/or (2) that the government is not able to select promising projects. The first explanation is related to moral hazard and the second one to adverse selection. The policy suggestion is for government to change the design of the loans, to base them on firms rather than projects. 相似文献
16.
绿色技术创新已经成为驱动企业高质量发展的重要手段。多措并举的异质环境政策能否真正促进企业绿色技术创新,高管风险偏好又扮演何种角色？本文围绕环境政策与高管特征两个维度,以2013—2018年中国沪深A股重污染上市公司为样本,运用Stata15.1实证检验了激励型与惩罚型两种环境政策影响企业绿色技术创新的异同,以及高管风险偏好在其中的作用机制。研究发现：激励型环境政策与绿色技术创新存在倒U型关系,惩罚型环境政策与绿色技术创新存在U型关系;高管风险偏好能够促进绿色技术创新,且正向调节环境政策对绿色技术创新的影响。结果表明：异质环境政策的合理匹配与有序投放,再加高管冒险精神的适度提高,是促进重污染企业绿色技术创新驱动高质量发展的有益之举。 相似文献
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尽管我国创业活动在全球经济体处于活跃状态,但我国的创业成功率较低。这主要是因为我国创业政策供给与异质性创业模式的匹配度不高。以供需匹配为视角,借助MOS模型,运用独立样本t检验法和多元层次回归分析法,实证分析了创业政策与创业模式匹配对创业绩效的影响机制。研究结果表明：（1）动机激发和机会增加政策有助于提升生存推动型创业者的自我效能感,为其提供更多的创业资源和创业机会;（2）动机激发和技能培育政策有助于增强机会拉动型创业者的创业自信心,提升其专业知识和实践技能;（3）机会增加和技能培育政策有助于扩展创新驱动型创业者的社会网络,提升其组织管理能力。鉴于此,政府应采取异质性的创业政策供给,即关注生存推动型创业者的动机激发和机会增加,注重机会拉动型创业者的动机强化和技能培育,侧重创新驱动型创业者的技能提升和机会增加。 相似文献
19.
This study investigates how R&D subsidy and non-R&D subsidy affect entrepreneurial firms’ initial public offering (IPO) performance in an emerging economy like China. Analyzing data from 269 IT (information technology) entrepreneurial firms in China, we found that R&D subsidy has an inverted U-shape effect on IPO performance, while non-R&D subsidy has a positive effect on IPO performance. Furthermore, both state ownership and patent intensity moderate the inverted U-shape relationship between R&D subsidy and IPO performance. In contrast, neither of them moderates the positive relationship between non-R&D subsidy and IPO performance. These findings contribute to the literature on the effectiveness of government subsidy by highlighting the symbolic effect of government subsidy on external financing in emerging economies, and offer important practical implications to entrepreneurial firms and government funding agencies in China. 相似文献
20.
国外激励企业R＆D的财政政策趋势研究 总被引：1，自引：0，他引：1
通过对激励企业R＆D财政政策的研究，认为政府对企业R＆D的激励力度逐步加大；中小企业研发、合作研发和跨国公司研发是各国财政政策的支持重点。激励政策工具主要有直接资助和间接激励。越来越多的国家倾向于间接激励方式。许多国家开始采用研发人员个人所得税优惠政策。对我国研发激励政策提出相关建议。 相似文献