Does internationalization encourage state-owned enterprises to utilize subsidies to innovate? Evidence from high-tech and automobile manufacturing industries of Chinese listed companies

Purpose Drawing on the resource-based view, institutional logic and isomorphic pressure theories, this study constructed a theoretical model to explore the correlations between government subsidies and innovation performance. Particularly, this study aims to investigate the moderating effects of ownership types and degree of internationalization on these relationships. Design/methodology/approach To empirically test the relationships, the authors use panel data from high-tech manufacturing and automobile manufacturing industries in Chinese A stock listed companies for the period 2011–2015 and performed regression analysis. Findings Results indicate that government subsidies positively enhance enterprises’ innovation performance; there is a big gap between government subsidies’ incentive effect on innovation performance between state-owned enterprises (SOEs) and private-owned enterprises (POEs); with the improvement of internationalization, the promotion effect of government subsidies on enterprise innovation performance is strengthened; there is a three-way interaction between government subsidies, degree of internationalization and ownership types, such that in the presence of a low degree of internationalization, there is a big gap in the incentive effect of government subsidies on the innovation performance of SOEs and POEs; in the presence of a high degree of internationalization, the gap is significantly reduced. Originality/value This is an empirical study on the impact mechanism of ownership types and internationalization on the relationship between government subsidies and innovation performance in China. It provides valuable insights to show how internationalization can dramatically improve SOEs’ efficiency disadvantages in the allocation of government subsidies to innovation activities.

Object Cloning for Ownership Systems

<p>Modern object-oriented programming languages frequently need the ability to clone, duplicate, and copy objects. The usual approaches taken by languages are rudimentary, primarily because these approaches operate with little understanding of the object being cloned. Deep cloning naively copies every object that has a reachable reference path from the object being cloned, even if the objects being copied have no innate relationship with that object. For more sophisticated cloning operations, languages usually only provide the capacity for programmers to define their own cloning operations for specific objects, and with no help from the type system. Sheep cloning is an automated operation that clones objects by leveraging information about those objects’ structures, which the programmer imparts into their programs with ownership types. Ownership types are a language mechanism that defines an owner for every object in the program. Ownership types create a hierarchical structure for the heap. In this thesis, we construct an extensible formal model for an object-oriented language with ownership types (Core), and use it to explore different formalisms of sheep cloning. We formalise three distinct operational semantics of sheep cloning, and for each approach we include proofs or proof outlines where appropriate, and provide a comparative analysis of each model’s benefits. Our main contribution is the descripSC formal model of sheep cloning and its proof of type soundness. The second contribution of this thesis is the formalism of Mojo-jojo, a multiple ownership system that includes existential quantification over types and context parameters, along with a constraint system for context parameters. We prove type soundness for Mojo-jojo. Multiple ownership is a mechanism which allows objects to have more than one owner. Context parameters in Mojo-jojo can use binary operators such as: intersection, union, and disjointness.</p>

Object Cloning for Ownership Systems

<p>Modern object-oriented programming languages frequently need the ability to clone, duplicate, and copy objects. The usual approaches taken by languages are rudimentary, primarily because these approaches operate with little understanding of the object being cloned. Deep cloning naively copies every object that has a reachable reference path from the object being cloned, even if the objects being copied have no innate relationship with that object. For more sophisticated cloning operations, languages usually only provide the capacity for programmers to define their own cloning operations for specific objects, and with no help from the type system. Sheep cloning is an automated operation that clones objects by leveraging information about those objects’ structures, which the programmer imparts into their programs with ownership types. Ownership types are a language mechanism that defines an owner for every object in the program. Ownership types create a hierarchical structure for the heap. In this thesis, we construct an extensible formal model for an object-oriented language with ownership types (Core), and use it to explore different formalisms of sheep cloning. We formalise three distinct operational semantics of sheep cloning, and for each approach we include proofs or proof outlines where appropriate, and provide a comparative analysis of each model’s benefits. Our main contribution is the descripSC formal model of sheep cloning and its proof of type soundness. The second contribution of this thesis is the formalism of Mojo-jojo, a multiple ownership system that includes existential quantification over types and context parameters, along with a constraint system for context parameters. We prove type soundness for Mojo-jojo. Multiple ownership is a mechanism which allows objects to have more than one owner. Context parameters in Mojo-jojo can use binary operators such as: intersection, union, and disjointness.</p>

Generic Ownership Types for Java and the Collections Framework

<p>Generic programming has turned out very useful in the development of reusable software. With the Java programming language, genericity is not only meant for reusability, but also for type-safety. Java generics constrain a container object (e.g., list, hash table) to store objects of a pre-specified data type. Nevertheless, safe programming with aliasing (multiple pointers in a program may point to the same object) is still a concern in object-oriented programming language research. A pointing object can mutate the state of the aliased object, reflecting the changes to all of the other pointers (aka aliases) thus affecting their behaviour. As programs grow larger and more complex, such changes in behaviour can be undesirable and difficult to detect and reason about. With respect to container objects, the iterator pattern critically violates encapsulation, allowing aliases to the state (and thereof the components) of its container. Object ownership is one of the well-researched paradigms in the area of alias management. Ownership types support hierarchical object encapsulation rather than the traditional class-level encapsulation. This thesis introduces an extension of Java 6 with support for ownership types as supplementary generic types. That is, Java generics are extended with the ability of carrying ownership information. This extension provides generic ownership support for all of Java; that is, all major language features are addressed so that programs can safely manage and express their aliasing properties. The resulting language is expressive enough to support common programming idioms, with little programming and runtime overhead. We evaluated the programmability of the language by refactoring a major (the most essential) portion of the Java Collections Framework. We also evaluated the performance impact of our refactoring by conducting a small micro-benchmark study to measure the performance time overhead the refactored collections may impose.</p>

Generic Ownership Types for Java and the Collections Framework

<p>Generic programming has turned out very useful in the development of reusable software. With the Java programming language, genericity is not only meant for reusability, but also for type-safety. Java generics constrain a container object (e.g., list, hash table) to store objects of a pre-specified data type. Nevertheless, safe programming with aliasing (multiple pointers in a program may point to the same object) is still a concern in object-oriented programming language research. A pointing object can mutate the state of the aliased object, reflecting the changes to all of the other pointers (aka aliases) thus affecting their behaviour. As programs grow larger and more complex, such changes in behaviour can be undesirable and difficult to detect and reason about. With respect to container objects, the iterator pattern critically violates encapsulation, allowing aliases to the state (and thereof the components) of its container. Object ownership is one of the well-researched paradigms in the area of alias management. Ownership types support hierarchical object encapsulation rather than the traditional class-level encapsulation. This thesis introduces an extension of Java 6 with support for ownership types as supplementary generic types. That is, Java generics are extended with the ability of carrying ownership information. This extension provides generic ownership support for all of Java; that is, all major language features are addressed so that programs can safely manage and express their aliasing properties. The resulting language is expressive enough to support common programming idioms, with little programming and runtime overhead. We evaluated the programmability of the language by refactoring a major (the most essential) portion of the Java Collections Framework. We also evaluated the performance impact of our refactoring by conducting a small micro-benchmark study to measure the performance time overhead the refactored collections may impose.</p>

Generic Ownership: a Practical Approach to Ownership and Confinement in Object-Oriented Programming Languages

<p>Modern object-oriented programming languages support many techniques that simplify the work of a programmer. Among them is generic types: the ability to create generic descriptions of algorithms and object structures that will be automatically specialised by supplying the type information when they are used. At the same time, object-oriented technologies still suffer from aliasing: the case of many objects in a program's memory referring to the same object via different references. Ownership types enforce encapsulation in object-oriented programs by ensuring that objects cannot be referred to from the outside of the object(s) that own them. Existing ownership programming languages either do not support generic types or attempt to add them on top of ownership restrictions. The goal of this work is to bring object ownership into mainstream object-oriented programming languages. This thesis presents Generic Ownership which provides perobject ownership on top of a generic imperative language. Surprisingly, the resulting system not only provides ownership guarantees comparable to the established systems, but also requires few additional language mechanisms to achieve them due to full reuse of generic types. In this thesis I formalise the core of Generic Ownership, highlighting that the restriction of this calls, owner preservation over subtyping, and appropriate owner nesting are the only necessary requirements for ownership. I describe two formalisms: (1) a simple formalism, capturing confinement in a functional setting, and (2) a complete formalism, providing a way for Generic Ownership to support both deep and shallow variations of ownership types. I support the formal work by describing how the Ownership Generic Java (OGJ) language is implemented as a minimal extension to Java 5. OGJ is the first publicly available language implementation that supports ownership, confinement, and generic types at the same time. I demonstrate OGJ in practice: show how to use OGJ to write programs and provide insights into the implementations of Generic Ownership.</p>

Generic Ownership: a Practical Approach to Ownership and Confinement in Object-Oriented Programming Languages

<p>Modern object-oriented programming languages support many techniques that simplify the work of a programmer. Among them is generic types: the ability to create generic descriptions of algorithms and object structures that will be automatically specialised by supplying the type information when they are used. At the same time, object-oriented technologies still suffer from aliasing: the case of many objects in a program's memory referring to the same object via different references. Ownership types enforce encapsulation in object-oriented programs by ensuring that objects cannot be referred to from the outside of the object(s) that own them. Existing ownership programming languages either do not support generic types or attempt to add them on top of ownership restrictions. The goal of this work is to bring object ownership into mainstream object-oriented programming languages. This thesis presents Generic Ownership which provides perobject ownership on top of a generic imperative language. Surprisingly, the resulting system not only provides ownership guarantees comparable to the established systems, but also requires few additional language mechanisms to achieve them due to full reuse of generic types. In this thesis I formalise the core of Generic Ownership, highlighting that the restriction of this calls, owner preservation over subtyping, and appropriate owner nesting are the only necessary requirements for ownership. I describe two formalisms: (1) a simple formalism, capturing confinement in a functional setting, and (2) a complete formalism, providing a way for Generic Ownership to support both deep and shallow variations of ownership types. I support the formal work by describing how the Ownership Generic Java (OGJ) language is implemented as a minimal extension to Java 5. OGJ is the first publicly available language implementation that supports ownership, confinement, and generic types at the same time. I demonstrate OGJ in practice: show how to use OGJ to write programs and provide insights into the implementations of Generic Ownership.</p>

What drives the performance of different bank-ownership types in Indonesia? The pre- and post-GFC analysis

PurposeThe Indonesian banks play crucial roles in the economy, especially because of less developed bond and stock markets. It has undergone drastic changes in bank-ownership composition over time. This paper aims to analyze the impact of bank-specific characteristics on the performance of different bank-ownership types in Indonesia to determine whether their profitability drivers differ.Design/methodology/approachFixed-effect panel data regression is applied to 1,649 bank-year observations (97 banks throughout 2003–2019). It encompasses the pre- and post-global financial crisis (GFC) period.FindingsThe findings show that age, liquidity, equity and credit risk are significant determinants of bank performance. The significance of these effects differs for each bank-ownership type and show changes between the pre-GFC and post-GFC periods.Research limitations/implicationsNotwithstanding the merit of this paper, the results are not without limitations. This paper only focuses on one country. Furthermore, the prominence of banks relative to bond and stock markets with consideration of the GDP of countries may result in different findingsPractical implicationsThese findings provide the owners and managers of banks with information that can be applied to compare and assess own bank drivers and performance to enhance their own efficiency. The findings also inform bank authorities and regulators about differences in performance drivers that could be considered in changes to policies aimed at improving the performance of different bank-ownership types.Originality/valueThis paper is a pioneer study that focuses on the drivers of bank performance for different ownership types during the pre- and post-GFC periods in a country where the financial market is overall small and bank credits dominate capital supply.