79 research outputs found
Two studies on patent abandonment : from the organizational and inter-organizational perspectives
No full textTwo studies on patent abandonment : from the organizational and inter-organizational perspectives
No full textThis thesis consists of two studies that examine patent abandonment in an emerging market. Patent abandonment refers to firms’ disbandment of their ownership of the property right of a patent that it previously developed. Previous studies have largely drawn upon the economic models to explain why a patent is abandoned. Going beyond that, my thesis tries to incorporate both the organizational and inter-organizational perspectives to understand patent abandonment. In my first study, I build upon the organizational learning perspective to address the question of why the frequency of patent abandonment differs across firms. I highlight the role of firms’ capability of recognizing a high-value patent and the learning barriers to develop such a capability under the weak institutions in an emerging market. I propose, at first, firms may accumulate inaccurate knowledge about the value of a patent and thus develop more patents that are abandoned subsequently. Learning barriers explain a higher frequency of patent abandonment as firms accumulate more innovation experience in the early stage of learning. However, the effect of deliberate learning tends to outweigh the effect of learning barriers after a threshold level of innovation experience is attained. So, after reaching a threshold level, firms tend to have a lower frequency of patent abandonment with more innovation experience. In my second study, I turn to the inter-organizational perspectives and explain why firms tend to postpone their decision of patent abandonment. I argue that the hazard rate of a patent being abandoned does not increase monotonically with time. Such a hazard rate first increases but, after a time point, it decreases with time. It implies that firms may invest in resources specific to a patent and become committed to a patent over time. Further, firms are more likely to make investment in asset specificity and postpone their decision to abandon a patent in the technology field where there is an increasing rate of technology entry. Taken together, these two studies of my thesis contribute to understanding the phenomenon of patent abandonment.</p
CEO INTERNATIONAL EXPERIENCE IN ADVANCED MARKET ECONOMIES AND FIRM INVESTMENT HORIZON IN A TRANSITIONING ECONOMY
No full textBuilding on the literature on managerial myopia, we investigate how CEOs’ international experience in advanced market economies affects their firms’ investment horizons in a transitioning economy. To overcome myopia, CEOs should possess the knowledge needed to manage current tasks, thereby freeing up cognitive resources for future considerations. In the context of our theorizing, we argue that international experience in advanced market economies equips CEOs with knowledge about how to deal with their current tasks of market-oriented adaptation in a transitioning economy, freeing up cognitive resources for considering longer-term investment horizons. Additionally, the effect of CEO international experience in advanced market economies on firm investment horizon is stronger under conditions that increase the cognitive burden on CEOs to perform the market-oriented adaptation task: specifically, when there is a high scope of pro-market reform, high intensity of foreign competition, analyst coverage, and a high level of institutional ownership. Our estimation based on a matched sample of 204 Chinese CEOs during the period 2002-2019 generally supports our predictions. Our study contributes to research on firm investment horizon, CEO international experience, and transition economies
CEO INTERNATIONAL EXPERIENCE IN ADVANCED MARKET ECONOMIES AND FIRM INVESTMENT HORIZON IN A TRANSITIONING ECONOMY
No full textBuilding on the literature on managerial myopia, we investigate how CEOs’ international experience in advanced market economies affects their firms’ investment horizons in a transitioning economy. To overcome myopia, CEOs should possess the knowledge needed to manage current tasks, thereby freeing up cognitive resources for future considerations. In the context of our theorizing, we argue that international experience in advanced market economies equips CEOs with knowledge about how to deal with their current tasks of market-oriented adaptation in a transitioning economy, freeing up cognitive resources for considering longer-term investment horizons. Additionally, the effect of CEO international experience in advanced market economies on firm investment horizon is stronger under conditions that increase the cognitive burden on CEOs to perform the market-oriented adaptation task: specifically, when there is a high scope of pro-market reform, high intensity of foreign competition, analyst coverage, and a high level of institutional ownership. Our estimation based on a matched sample of 204 Chinese CEOs during the period 2002-2019 generally supports our predictions. Our study contributes to research on firm investment horizon, CEO international experience, and transition economies
Appearance Design Method of Smart Street Lamp Based on Kansei Engineering
No full textIn order to improve the scientificity of the appearance design of smart street lamps, this paper studies the appearance design method of smart street lamps combined with Kansei engineering so as to improve the appearance design effect of street lamps. Moreover, this paper optimizes the design of free-form surface optical light distribution, microlens array to improve the light extraction efficiency of high-power smart street lamps, and the heat dissipation structure of lamps. In addition, in view of the shortcoming that the direct design of free-form surface lenses for smart street lamps is not widely applicable, this paper proposes the concept of integration of microlens array packaging for smart street lamps. Finally, this paper verifies that the intelligent street lamp design based on Kansei engineering meets the lighting needs through experimental research. Through the experimental evaluation, it can be seen that the appearance design method of smart street lamps based on Kansei engineering proposed in this paper can effectively improve the structural performance of street lamps
A COMPARATIVE STUDY OF ECONOMIC SPACE BETWEEN LUOYANG CITY IN HAN AND WEI DYNASTIES AND ROME CITY IN IMPERIAL PERIOD
No full textThe author of this article reviews the development of Luoyang City and Rome City from a historical perspective, analyzes the economic development of Luoyang City and Rome City from related historical events, briefly compares the economic development space of the two cities, and provides some suggestions for historians to study ancient city-states.The author of this article reviews the development of Luoyang City and Rome City from a historical perspective, analyzes the economic development of Luoyang City and Rome City from related historical events, briefly compares the economic development space of the two cities, and provides some suggestions for historians to study ancient city-states
A COMPARATIVE STUDY OF URBAN DIVISIONS BETWEEN LUOYANG CITY IN HAN AND WEI DYNASTIES AND ROME CITY IN IMPERIAL PERIOD
No full textThe author of this article briefly analyzes the layout and division of Luoyang and Roman cities during the Han and Wei Dynasties from a historical perspective, and explores the characteristics and traditional craftsmanship of ancient buildings in the East and the West from a comparison.The author of this article briefly analyzes the layout and division of Luoyang and Roman cities during the Han and Wei Dynasties from a historical perspective, and explores the characteristics and traditional craftsmanship of ancient buildings in the East and the West from a comparison
STUDY ON THE RITUAL ARCHITECTURE OF LUOYANG CITY IN HAN AND WEI DYNASTIES
No full textThe author of this article reviews the architectural style of Luoyang City during the Han and Wei dynasties by studying historical data, analyzes its architectural style characteristics from a historical perspective, and provides some suggestions for later scholars to study Chinese ancient architecture.The author of this article reviews the architectural style of Luoyang City during the Han and Wei dynasties by studying historical data, analyzes its architectural style characteristics from a historical perspective, and provides some suggestions for later scholars to study Chinese ancient architecture
Interest Alignment or Rent Extraction? The Performance Implications of Stock Option Plans in China
No full textThere are two contradictory arguments about the impact of stock options on financial performance: interest alignment or rent extraction. We examine the impact of stock options on firm financial performance in the context of a transitional economy and suggest that both arguments may be valid under different circumstances. From the interest alignment perspective, we argue that when the principle-agent conflict is salient, a stock option plan will complement the absence of effective incentive- and monitoring-based governance mechanisms and align the managerial interests with those of shareholders, enhancing a firm’s financial performance. However, building on the rent extraction perspective, we argue that when the principle-principle conflict is salient, a stock option plan may not increase the firm’s financial performance as it may provide managers and large owners an opportunity to appropriate the rents from the firm for their own private benefits. The empirical data of a sample of Chinese publicly listed firms between 2004 and 2013 largely supports our hypotheses. Among firms that adopt a stock option plan, those with a lower level of managerial ownership and independent director ratio have better financial performance. In contrast, those with a high level of ownership concentration and with the state as their controlling shareholder have lower financial performance
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