R&D spending value effect research of China’s listed manufacturing companies

Abstract

Through studying the impact of R&D expenditure on the market value of firms according to the data of manufacturinglisted companies in Shanghai and Shenzhen A stock market from 2001 to 2014, we find that the R&D expenditure of manufacturing-listed companies shows a positive correlation with the market value. Meanwhile, R&D expenditure can generate better value effect in smaller firms. The value effect from R&D expenditure in private enterprises is greater than that in state-owned enterprises.

Design and Selection of Pharmaceutical Innovation Incentive Policies: Subsidy or Inclusion in Health Insurance Plan

“…More similar to this paper, some scholars focused on the roles of government subsidies on pharmaceutical innovation. For example, Yin [13] , Czamitzki and Lopesbento [14] , and Zhang, et al [15] respectively confirmed the value of government subsidies in pharmaceutical innovation from the perspectives of promoting innovation investment, reducing R&D risk and improving innovation outputs. Zhang, et al [16] designed the strategic incentive policy for pharmaceutical innovation and shown that such policy can achieve social optimal allocation of pharmaceutical innovation under certain conditions.…”

Review on Multiple‐Degree‐of‐Freedom Cross‐Scale Piezoelectric Actuation Technology

“…Kang et al proposed a flexure‐based 6‐DOF parallel nanopositioning stage for precise optics alignment; [ 192 ] the stage with the size of Ф350 × 120 mm 3 achieved the first resonant frequency of 396.1 Hz and the strokes of 4 mm × 4 mm × 4 mm × 4° × 4° × 4° with linear resolution of 15 nm and rotary resolution of 0.14 arcsec. Zhang et al proposed a 6‐DOF micropositioning mechanism for real‐time adjustment of lithography projection lens posture, [ 193 ] which achieved the translation and rotation stroke of more than 50 μm and 200 μrad, respectively. Zhang et al [ 194 ] proposed a novel 6‐DOF micro/nanopositioning system with the characteristics of high resolution, high repeatability, and low parasitic motions, which consisted of three identical limbs including two symmetrical six prismatic–universal–spherical branches; the proposed positioning platform with the size of Ф264 × 148.4 mm 3 achieved the first resonant frequency of 188.84 Hz and the strokes of 80 μm × 80 μm × 60 μm × 400 μrad × 400 μrad ×600 μrad with the linear and rotary resolutions of 5 nm and 100 nrad, respectively.…”