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State-Owned Capital Participation in Private Enterprises:A Perspective of Debt Financing

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China Economist 2024年第1期19卷 14-42页

作者： He Dexu Zeng Min Zhang Shuonan business school University of Chinese Academy of Social SciencesBeijingChina National Academy of Economic Strategy Chinese Academy of Social SciencesBeijingChina school of Finance Zhejiang University of Finance&EconomicsHangzhouChina

This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt *** conclusion remains valid after a series of endogeneity and robustness *** analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency *** paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity ***,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.

关键词： Mixed-ownership reform reverse mixed-ownership reform state-owned capital debt financing heterogeneous shareholders

Review of EU projects with a focus on environmental quality: Innovation, eco-innovation, and circular-economy elements

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International Journal of Innovation Studies 2024年第1期8卷 1-12页

作者： Jana Hojnik Mitja Ruzzier Maja Konecnik Ruzzier Boris Sucic Brandon Soltwisch Matej Rus University of Primorska Faculty of ManagementIzolska Vrata 26000KoperSlovenia University of Ljubljana School of Economics and BusinessKardeljeva Ploscad 171000LjubljanaSlovenia Jozef Stefan Institute Energy Efficiency CentreJamova 391000LjubljanaSlovenia Tulane University Freeman School of Business6823 St Charles AveNew OrleansLA 70118USA University of Maribor Faculty of Economics and BusinessRazlagova 142000MariborSlovenia

The primary objective of this study is to delve into transnational projects conducted between 2014 and 2020,with a strong emphasis on environmental *** focus is directed toward projects that encompass either eco-innovation or feature elements intrinsic to a circular *** achieve this goal,we introduce a pioneering analytical framework tailored to dissect transnational projects,which intricately interweaves the diverse dimensions of environmental quality and innovation,facilitating a comparative assessment across various program *** approach aligns with the overarching mission of the four flagship initiatives,in which we evaluate the combined impacts on sustainability and *** evaluation considers three fundamental factors:(1)resource allocation,(2)innovation type,and(3)infusion of eco-innovation or circular economy *** methodology unfolds through a systematic,step-by-step ***,we meticulously handpick programs,specifically Interreg,Horizon,and Life projects,within the scope of TSG3(Environmental Quality).Each of these programs corresponds to one of the following four flagship initiatives:(1)overseeing and managing marine species,(2)fostering sustainable development in coastal and maritime zones,(3)safeguarding and elevating natural habitats and terrestrial ecosystems,and(4)formulating transnational contingency strategies for maritime *** an exhaustive review,we identify projects that either directly or indirectly champion eco-innovation or other facets of the circular ***,we uncover broader manifestations of innovation,eco-innovation,and circular economy *** the Oslo Manual as a guide,we methodically categorize these innovations into the product,process,organizational,and marketing *** the timeframe under scrutiny,a relatively modest subset of projects embraced eco-innovations and practices aligned with the circular *** findings culminate in

关键词： Environment Sustainability Eco-innovation Innovation EU projects Entrepreneurship

Accelerating Asteroidal Period and Pole Inversion from Multiple Lightcurves Using Parallel Differential Evolution and Cellinoid Shape Model

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Research in Astronomy and Astrophysics 2024年第4期24卷 271-286页

作者： Yong-Xiong Zhang Wen-Xiu Guo Xiao-Ping Lu Hua Zheng Hai-Bin Zhao Jun Tian Wei-Lin Wang school of Engineering Guangzhou College of Technology and BusinessGuangzhou 510850China school of Computer Science and Engineering Macao University of Science and TechnologyTaipaMacao 999078China school of Mathematics and Statistics Shaoguan UniversityShaoguan 512099China State Key Laboratory of Lunar and Planetary Sciences Macao University of Science and TechnologyMacao 999078China Key Laboratory of Planetary Sciences Purple Mountain ObservatoryCASNanjing 210023China

Determining asteroid properties provides valuable physical insights but inverting them from photometric lightcurves remains computationally *** paper presents a new approach that combines a simplified Cellinoid shape model with the Parallel Differential Evolution(PDE)algorithm to accelerate *** PDE algorithm is more efficient than the Differential Evolution algorithm,achieving an extraordinary speedup of 37.983 with 64 workers on multicore *** PDE algorithm accurately derives period and pole values from simulated *** analysis of real asteroid lightcurves validates the method’s reliability:in comparison with results published elsewhere,the PDE algorithm accurately recovers the rotational periods and,given adequate viewing geometries,closely matches the pole *** PDE approach converges to solutions within 20,000 iterations and under one hour,demonstrating its potential for large-scale data *** work provides a promising new tool for unveiling asteroid physical properties by overcoming key computational bottlenecks.

关键词： methods:numerical minor planets asteroids:general techniques:photometric astrom

Analysis of Drug Medical Insurance Access Pricing Based on the Perspective of Binary Equilibrium

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Asian Journal of Social Pharmacy 2024年第2期19卷 117-125页

作者： Zhang Junjun Wang Shuling school of business Administration Shenyang Pharmaceutical UniversityShenyang 110016China

Objective To study the influencing factors in the process of national medical insurance negotiation and drug pricing from the dualistic equilibrium perspective,and to provide reference for the harmonious management of drug pricing in *** Through the literature analysis and policy review,the pricing subject,pricing basis and price control system in the pricing process of medical-accessed medicines were analyzed from the perspective of binary equilibrium and harmonious *** and Conclusion It is found that four balances in the drug pricing process,two balances in pricing basis and three balances in price control system need to be considered,*** pricing is the key content of national medical insurance access,which is also the hotspot of the policy in the pharmaceutical fields in recent *** pricing not only reflects the value of drugs,but also reflects a lot of top-level designs of binary equilibriums in medical insurance *** the rational design of drug pricing requires the joint efforts of the government,pharmaceutical companies and relevant experts to comprehensively consider many equilibriums,so as to improve the relevant systems.

关键词： medical insurance access drug pricing binary equilibrium

Digital Transformation Trend of the Pharmaceutical Distribution Industry in the Context of New Infrastructure in China

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Asian Journal of Social Pharmacy 2024年第2期19卷 159-167页

作者： Gan Xingzhi school of business Administration Shenyang Pharmaceutical UniversityShenyang 110016China

Objective To study the pharmaceutical distribution industry against the background of new infrastructure construction since it is vital to the health and life of the public,and to offer some suggestions to further improve the industry quality and achieve industry *** The national strategies for new infrastructure as well as the underlying logic for enterprise digital transformation were analyzed to provide the outlook on the digital transformation trend of the pharmaceutical distribution *** and Conclusion In the future,the pharmaceutical distribution industry shall transform the pattern,channel,management and control,and experience in the entire business chain in a digital way by focusing on connection efficiency,data efficiency and decision-making efficiency.

关键词： pharmaceutical distribution digital transformation new infrastructure trend

Four New Terpyridine Complexes Based Polyoxometalates with[W_(10)O_(32)]^(4-) Anions as High-Efficiency Dual-Site Catalysis for Thioether Oxidation Reaction

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Chinese Journal of Chemistry 2024年第6期42卷 592-598页

作者： Yin Zhang Wei-Dong Yu Fang-Qian Wang Xiangnan Wang Jiawan Zhou Chao Liu Jun Yan Junior Education Department Changsha Normal UniversityChangshaHunan410100 China school of Science Hunan University of Technology and BusinessChangshaHunan410000 China College of Chemistry and Chemical Engineering Central South UniversityChangshaHunan410000 China

Polyoxometalates modified with complex cations have attracted increasing attention because of the fascinating properties and the controllable *** adjusting the synthesis conditions,four new terpyridine complexes based hybrid POMs,[(TPY-H)CuCl]_(4)[W_(10)O_(32)]·2DMF·2H_(2)O(1),[(TPY-H)Cu(DMSO)(H_(2)O)]_(2)[W_(10)O_(32)]·2H_(2)O(2),[(TPY-H)_(2)Cu]_(2)[W_(10)O_(32)]·6DMSO·8H_(2)O(3) and[(TPY-Br)CuCl(DMSO)(H_(2)O)]_(2)[(TPY-Br)CuCl]_(2)[W_(10)O_(32)]·2DMSO·4H_(2)O(4),were prepared by using‘one-pot’***-crystal X-ray diffraction analyses,infrared radiation,etc.,revealed the structural composition of compounds 1—4,which indicates that synthesis conditions have a directional regulatory effect on the compounds *** oxidation catalytic reactions show 1—4 have good catalytic activities,and powder X-ray diffraction and thermogravimetry analysis show 1—4 have superduper catalytic ***,4 has better catalytic activity because of the different structure of terpyridine ***,a possible mechanism of dual-site catalysis by both cations and anions is proposed.

关键词： Polyoxometalates Terpyridine complexes Thioether oxidation Dual-site catalysis Clusters

Comparison of the Development Model of DTP Pharmacy between China and the United States and Its Enlightenment

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Asian Journal of Social Pharmacy 2024年第2期19卷 168-177页

作者： Li Yanli Huang Zhe school of business Administration Shenyang Pharmaceutical UniversityShenyang 110016China

Objective To systematically analyze the development status of DTP pharmacy in the United States and China,and to find out the problems in China’s DTP pharmacy and put forward some countermeasures and *** Relevant literature was searched and reviewed to study the history,market scale and development trend of DTP pharmacy in the United States and ***,the problems in China’s DTP pharmacy were found *** and Conclusion DTP pharmacy model in the *** taken shape and is *** high degree of industry concentration is an important feature of the *** contrast,China’s DTP pharmacy started late,and the industry pattern has not yet been *** are still some problems in the DTP pharmacy certification and quality *** is recommended to promote the rapid development of DTP pharmacies in China by encouraging the outflow of prescription drugs,establishing a third-party pharmacy accreditation organization and strengthening the team of licensed pharmacists and other personnel.

关键词： DTP pharmacy specialty pharmacy development model policy implication

Review of Empirical Studies on Climate Risk—Effects and Activism

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American Journal of Climate Change 2024年第2期13卷 194-208页

作者： Yehuda Davis Henry He Huang Sy Syms school of business Yeshiva University New York USA

This review focuses on major contemporary empirical studies that examine both the physical and regulatory sides of climate risk. These studies explore how climate risk affects firms’ operating performance and leverage, stock and bond valuation, cost of capital, and managerial behavior. We also discuss how the effect of climate risk on real estate markets depends on individuals’ beliefs about climate change. Furthermore, we summarize papers on climate risk activism and how firms can employ financial devices and technology to mitigate their climate risk. Finally, we make some recommendations for further research areas.

关键词： Climate Risk Climate Risk Activism Climate Risk Mitigation

Discussion on Cost Budgeting and Cost Control Strategies for Prefabricated Construction Projects

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Journal of Architectural Research and Development 2024年第4期8卷 17-23页

作者： Congzi Cheng business school University of Shanghai for Science and TechnologyShanghai 200082China

In the process of China’s national economic development,the construction industry is a very important component and has a direct impact on the level of China’s economic ***,the development speed of the prefabricated construction industry is constantly *** effectively ensure the economic benefits of engineering projects,it is necessary to comprehensively strengthen cost budgeting and cost *** article analyzes the cost budget of prefabricated construction projects,introduces the application advantages of prefabricated construction,and proposes specific cost budgeting and cost control measures,hoping to provide some reference for relevant researchers.

关键词： Prefabricated building Engineering cost budget Cost control