scholarly journals Optimal R&D Investment Strategy of Pollution Abatement and Incentive Mechanism Design under Asymmetric Information

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Chao Li ◽  
Na Zuo
Keyword(s):  
Asymmetric Information ◽  
Incentive Mechanism ◽  
Pollution Abatement ◽  
Investment Strategy ◽  
Pareto Optimum ◽  
Investment Level ◽  
The Government ◽  
The Impact ◽  
Incentive Mechanism Design ◽  
D Investment

The study examines optimal pollution control R&D investment strategy of firms under asymmetric information and further analyzes the impact of government incentive mechanism on it. We use stochastic optimal control theory to get the exact solution of R&D investment strategy and incentive mechanism. Our analysis reveals that if there is no supervisor, firms choose not to cooperate, but the government can take appropriate incentive compensation to make firms reach Nash equilibrium. If there are supervisors, the optimal strategy of the enterprise is to choose cooperation, and there will be Pareto optimum among the firms. Furthermore, the R&D investment level decreases with increasing environmental uncertainty.

Research on Innovation Signals and Feedbacks between SMEs and the Government

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Xiao Feng ◽  
Weidong Meng ◽  
Bo Huang
Keyword(s):  
Government Subsidy ◽  
Switching Regression ◽  
Hidden Information ◽  
High Type ◽  
Financing Constraint ◽  
Different Types ◽  
The Government ◽  
The Impact ◽  
Innovative Capacity ◽  
D Investment

AbstractDue to the financing constraint that faced by small and medium-sized enterprises (SMEs), SMEs are more cautious in innovation investments, and thus more eager to gain external financial support. This paper discusses the impact of SMEs’ R&D investment on government subsidy under the constraint of hidden information. It adopts a modified endogenous switching regression model to solve the endogenous problems. The results show that SME’s initiative to signal its underlying innovative capacity has an important impact on Chinese government’s subsidy feedback. SMEs that send high-type signals have gained more subsidies. And when SMEs are with different types of innovation signals, they would have different influence mechanisms on subsidy feedback. This study concludes that the policymakers should make more use of its belief and give effective feedbacks to the entrepreneurs.

scholarly journals Hoard or Exploit? Intergenerational Allocation of Exhaustible Natural Resources

Energies ◽  
2020 ◽  
Vol 13 (24) ◽  
pp. 6657
Author(s):  
Hala Abu-Kalla ◽  
Ruslana Rachel Palatnik ◽  
Ofira Ayalon ◽  
Mordechai Shechter
Keyword(s):  
Natural Resources ◽  
Investment Strategy ◽  
Extraction Rate ◽  
Electricity Production ◽  
Economic Welfare ◽  
Baseline Scenario ◽  
Renewable Electricity ◽  
The Government ◽  
The Impact ◽  
Allocation Strategies

In this paper, a “general equilibrium” (GE) model was developed for the allocation of exhaustible natural resources to examine the impact of different extraction scenarios on intergenerational economic welfare. A stylized GE model was applied to Israel’s natural gas (NG) market to evaluate economic indicators resulting from NG-extraction scenarios: a baseline scenario based on current policy in the NG sector, a conservative scenario based on a lower extraction rate, and an intensive scenario based on a faster extraction rate. The impact of various resource income-allocation strategies on intergenerational economic welfare was examined through the mechanism of a “sovereign wealth fund” (SWF). The results indicate that a higher NG-extraction rate combined with an appropriate investment strategy for NG profits is preferable from an economic perspective compared to a conservative rate. Investment of the government take from the NG market in research and development (R&D) of renewable electricity production can sustainably increase economic welfare.

Application of Incentive Mechanism in Building Energy Efficiency Regulation

2011 ◽  
Vol 71-78 ◽  
pp. 242-245
Author(s):  
Hong Wei Liu ◽  
Zhuo Fu Wang ◽  
Jun Li
Keyword(s):  
Energy Efficiency ◽  
Asymmetric Information ◽  
Incentive Mechanism ◽  
Incentive Compatibility ◽  
Building Energy ◽  
Building Energy Efficiency ◽  
Energy Regulation ◽  
Asymmetry Of Information ◽  
Symmetric Information ◽  
The Government

Considering the external characteristics of building energy efficiency, the essay points out the necessity for incentive mechanism design. Building energy regulation should take into account the building owner's participation constraint and incentive compatibility constraint. The asymmetry of information about building energy should be considered, then the game model under asymmetric information can be established. This paper proved that optimal mechanism of non-symmetric information was different from the asymmetric information. According to the analysis of the paper，incentive mechanism is necessary for the government.

scholarly journals Assessing The Impact Path of Air Quality On Enterprise R&D Investment: Empirical Evidences From Dual Perspectives of Investor Sentiment And Government Concern

2021 ◽  
Author(s):  
Jialiang Yang ◽  
Dan He
Keyword(s):  
Air Quality ◽  
Investment Decision ◽  
Investor Sentiment ◽  
Listed Companies ◽  
Inhibitory Effect ◽  
Promoting Effect ◽  
Investment Decision Making ◽  
The Government ◽  
The Impact ◽  
D Investment

Abstract Based on the data of Shanghai and Shenzhen A-share listed companies from 2015 to 2019, this paper studies the influence paths of air quality on R&D investment of listed companies from the perspectives of investor sentiment and government concern. It is found that, on the whole, air quality has a significant inhibitory effect on R&D investment. Air quality has a significant promoting effect on investor sentiment, which serves as a path to further restrain the R&D investment of listed companies. Air pollution is an effective concern for the government, and serves as a veil between air quality and R&D investment. Furthermore, this paper analyzes the heterogeneity of enterprises from the aspects of regional technology complexity, property right nature, whether it is a polluting enterprise or not, and whether it is a key regulated enterprise or not, and comes to relevant conclusions. This paper expands the research on air quality and enterprise R&D investment decision-making, which helps to clarify and improve the transmission mechanism and implementation effect of environmental protection policies.

scholarly journals FINANCING DEVELOPMENT, FINANCING CONSTRAINT AND R&D INVESTMENT OF STRATEGIC EMERGING INDUSTRIES IN CHINA

2020 ◽  
Vol 21 (4) ◽  
pp. 1010-1034
Author(s):  
Ke Xu ◽  
Chengxuan Geng ◽  
Xiaoshu Wei ◽  
Huifeng Jiang
Keyword(s):  
Stock Market ◽  
Financial Development ◽  
Financing Constraints ◽  
Firm Characteristics ◽  
Financial Intermediary ◽  
Emerging Industries ◽  
Financing Constraint ◽  
The Government ◽  
The Impact ◽  
D Investment

Taking listed companies of strategic emerging industries as the research subject, this paper uses KZ index to measure the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of financial development. Then empirical models are constructed to analyse whether financial development can alleviate the financing constraints of R&D investment or not. Finally, the paper further investigates the interaction of financial development and firm characteristics (including firm size, ownership nature and establishment time) on the impact of R&D investment. The results show that the degree of financing constraint is negatively correlated with R&D investment. Both the development of financial intermediary and stock market play an important role in alleviating the R&D financing constraints, and the development of the stock market can better alleviate the R&D financing constraint. Moreover, the development of financial intermediary and stock market plays a heterogeneous role among enterprises of different size, nature and time of establishment. In order to achieve the 13th Five-year Plan target of strategic emerging industries in China, the government and enterprises need to work together to improve the financial development level and reduce information asymmetry, so as to expand the investment channels of R&D investment and improve their innovation capability and competitiveness.

scholarly journals MAS-Based Interaction Simulation within Asymmetric Information on Emergency Management of Urban Rainstorm Disaster

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-13
Author(s):  
Qing Yang ◽  
Jinmei Wang ◽  
Xingxing Liu ◽  
Jiajia Xia
Keyword(s):  
Asymmetric Information ◽  
Time Pressure ◽  
Disaster Relief ◽  
Control Strategies ◽  
Economic Losses ◽  
Accurate Information ◽  
Promoting Effect ◽  
The Government ◽  
And Control ◽  
The Impact

The frequent occurrence of urban waterlogging constantly affects resident living and urban construction. Improved adaptive prevention and control strategies are highly requested due to huge economic losses and casualties caused by flood and waterlogging in China. The urban waterlogging may evolve into a serious emergency, generally characterized by high complexity, uncertainty, and time pressure. Coupled with the asymmetric information, waterlogging often exacerbates the impact of urban rainstorm disasters. Through the multi-agent system simulation with given geographic information, government and residents interact under dynamic risk distribution in rainstorm disaster. The results show that the proactive attitude of residents and the government towards disaster relief could have a promoting effect for both, thereby increasing the disaster relief efficiency. Obviously, rapid accurate information collection and analysis facilitate disaster relief to a large extent. Meanwhile, appropriate supply rather than excessive supply may mobilize residents’ self-help and balance replenishment of relief supplies.

scholarly journals Investing assets of non-state pension funds in bonds

2019 ◽  
Vol 17 (1) ◽  
pp. 1-14
Author(s):  
Svіtlana Achkasova ◽  
Anastasiia Urum
Keyword(s):  
Regression Analysis ◽  
Consumer Price Index ◽  
Practical Importance ◽  
Investment Strategy ◽  
Pension Funds ◽  
Investment Activity ◽  
The Government ◽  
State Pension ◽  
The Impact ◽  
State Pension Funds

Non-state pension funds play an important role in the development of the economy. The development of the system of non-state pension provision, which includes non-state pension funds, complies with the main aspects of the Ukraine – 2020 Sustainable Development Strategy. The importance of selecting investment areas for non-state pension funds results in the need to further explore and find ways to improve the investment process. The purpose of the article is to develop theoretical and methodological aspects of investing assets of non-state pension funds in bonds. The study object is the investment activity of non-state pension funds. The following methods are used: vertical and horizontal analysis, SWOT analysis, regression analysis, graphical and tabular methods. It is determined that effective investment of non-state pension funds’ assets provides an increase in the value of assets, which in turn enables participants of non-state pension funds to enhance the quality of life. Involving non-state pension funds in the stock market and their interaction with other entities in this market are illustrated by the investment in bonds example. The market of bonds in Ukraine for 2013-2017 has been analyzed and the tendency towards development has been determined. The possibilities and threats of investment of non-state pension funds’ assets in bonds are substantiated. The approach to determining the impact of factors on the government bond yields, in particular, bonds of domestic state loans and bonds of enterprises has been further developed. This approach, unlike the existing ones, provides for the use of regression analysis and takes into account changes in the environment according to factors (consumer price index and household income for government bonds, the number of enterprises and the discount rate of the National Bank of Ukraine for bonds of enterprises). That is of practical importance and will make it possible to improve the investment strategy of non-state pension fund assets in bonds.

scholarly journals Ownership structure, board of directors and R&D investments: evidence from France.

2008 ◽  
Vol 5 (3) ◽  
pp. 250-262 ◽  
Author(s):  
Basma Sellami Mezghanni
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Ownership Structure ◽  
Chief Executive ◽  
Ownership Concentration ◽  
Outside Directors ◽  
Investment Level ◽  
Inside Directors ◽  
The Impact ◽  
D Investment

The purpose of this research is to analyze the impact of the characteristics related to the ownership structure and board of directors, as mechanisms of governance, on the research and development (R&D) intensity. The study carried out on a sample of French companies belonging to the SBF 250 index shows that ownership concentration and duality of chief executive officer and chairman roles have no significant effect on the R & D intensity. The board sizes as well as the proportion of inside directors in the board have a positive and significant effect on R & D intensity. However, the participation of outside directors in capital tends to urge managers to reduce R&D investment level

Prinsip Kearifan Lokal dalam Pengembangan Strategi Kehumasan pada Pemerintah Daerah Kabupaten Bandung

2020 ◽  
Vol 4 (2) ◽  
pp. 229-248
Author(s):  
Betty Tresnawaty
Keyword(s):  
Public Relations ◽  
Local Knowledge ◽  
Case Study Approach ◽  
West Java ◽  
Study Approach ◽  
Positive Image ◽  
The Government ◽  
The Impact ◽  
Public Relations Strategy

Public Relations of the Bandung Regency Government realizes that its area has a lot of potential for various local wisdom and has a heterogeneous society. This study aims to explore and analyze the values of local knowledge in developing public relations strategies in the government of Bandung Regency, West Java province. This study uses a constructivist interpretive (subjective) paradigm through a case study approach. The results showed that the Bandung Regency Government runs its government based on local wisdom. Bandung Regency Public Relations utilizes local insight and the region's potential to develop a public relations strategy to build and maintain a positive image of Bandung Regency. The impact of this research is expected to become a source of new scientific references in the development of public relations strategies in every region of Indonesia, which is very rich with various philosophies.Humas Pemerintah Kabupaten Bandung menyadari wilayahnya memiliki banyak potensi kearifan lokal yang beragam, serta memiliki masyarakatnya yang heterogen. Penelitian ini bertujuan menggali dan menganalisis nilai-nilai kearifan lokal dalam pengembangan strategi kehumasan di pemerintahan Kabupaten Bandung provinsi Jawa Barat.  Penelitian ini menggunakan paradigma interpretif (subjektif) konstruktivis melalui pendekatan studi kasus. Hasil penelitian menunjukkan bahwa Pemerintah Kabupaten (Pemkab) Bandung menjalankan pemerintahannya berlandaskan pada kearifal lokal. Humas Pemkab Bandung memanfaatkan kearifan lokal dan potensi wilayahnya untuk mengembangkan strategi humas dalam membangun dan mempertahankan citra positif Kabupaten Bandung.Dampak penelitian ini diharapkan menjadi sumber rujukan ilmiah baru dalam pengembangan strategi kehumasan di setiap daerah Indonesia yang sangat kaya dengan beragam filosofi. 

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