Is Venture Capital Institutions’ “Certification” Applicable in the NEEQ Market? —— A Study from the Perspective of Analysts’ Reports

截止2016年12月31日，全国中小企业股权转让中心已经成功交易挂牌企业10163家，包括众多互联网企业在内的初创企业和民营中小企业得以在新三板挂牌交易，获得直接融资机会的同时也为了吸引更多投资者的关注，达到“价值发现”的目的。然而在新三板市场上，风投机构是否仍然具有“认证”、“推荐”、“监督”作用呢？新三板研究报告可信吗？分析师独立性是否会受到风投机构持股的影响呢？风投机构持股能改善企业二级市场流动性吗？ 本文分为五章，第一章绪论，阐述研究的背景、意义、框架和创新点；第二章详细论述目前成熟的相关理论，并进行文献综述的整理与归纳；第三章结合理论知识和现实需要提出假设并进行样本选择和变量设计，...By December 31st, 2016, the 10163th company has been listed on the National Equities Exchange and Quotations.Numerous start-ups and small companies, and some Internet companies included as well, can go public on the NEEQ market, gaining more equity investment and exposure thus to realize their value. However, there exist some unsolved questions in the NEEQ market, viz. 1) do the “certification”, “...学位：管理学硕士院系专业：管理学院_企业管理学号：1762014115121

Dynamic Analysis of Dry-jointed Structure—Case Study on Yingxian Wood Pagoda of China

常见的干架结构包括传统的干砌或弱浆砌砖石结构、中国古建筑木结构等空间多体干连接组合结构体系。该类结构由多个块体构件按照一定规则简支叠置，构件间不采用粘结材料形成拉结，借助自重及摩擦力抵抗侧向力。目前对干架结构的研究较少，且已有的对干架结构的数值模拟研究多基于连续杆系结构思想，与实际差异较大。本文从干架结构的特点出发，采用多体动力学及离散单元法对简单的块体干架结构进行分析，进而对中国古代建造的干架结构的典型——应县木塔进行探索。 运用理论力学方法及UDEC离散元软件建模分析，得出了在平面干连接接触、库伦摩擦滑移条件下，单个块体、多层块体及块体组装结构在地震作用下的运动状态与基本规律。研究发现，...The common dry-jointed structure includes the traditional dry-jointed masonry structure, the ancient timber-frame structure of Chinese and other space multi body composite structure system. This kind of structure is simply supported by a plurality of block members according to certain rules, and has no cementation between components. At present, there are few researches on the structure of the dry...学位：工程硕士院系专业：建筑与土木工程学院_工程硕士(建筑与土木工程)学号：2532014115179

Discussion on Mechanism Innovation of Energy-saving Environmental Protection Enterprises Bond Financing

在国家全面推进大气、水、土壤行动计划的情况下,节能环保产业将面临重要的发展机遇,同时也面临着拓宽融资渠道的挑战。本文将探讨在现有的债券融资框架下,如何对现有企业债券机制进行创新,以期为提高我国节能环保产业利用企业债券融资提供借鉴

Research on the Procurement Option of Public Sector Choosing Private Sector and Qualification of Watershed Integrated Management PPP Projects

首先分析流域综合治理PPP模式的难点,然后在收集已招标完成或处在前期采购阶段的29个案例基础上,从采购方式、PPP项目公司股权结构、对社会资本的要求以及是否接受联合体投标等四个方面进行分析。最后提出流域综合治理PPP模式宜采用竞争性磋商采购方式,政府应少量股权投入项目公司,对社会资本的要求应包括融资和专业能力等建议。First,analyzes the diffi culty of PPP model of watershed integrated management. Then,on the basis of collecting 29 cases that has been completed tender or in the procurement stage,carries out case analysis from four indicators of the procurement option,equity structure of PPP item company,the qualifi cation of private sector,and whether to accept the consortium tender. Last,puts forward relevant suggestions that applying PPP model of watershed integrated management should use competitive consultations,public sector as a minority equity coinvestor in future projects,requirements for social capital should include fi nancing and professional competence,and public sector should allow the consortium tender

财政补贴、生命周期和企业研发创新

本文使用2012-2016年中国上市公司数据,从企业生命周期的角度对财政补贴与企业研发创新间的关系进行实证检验。结果表明:总体而言,财政补贴对企业研发创新的影响虽为正,但不显著;区分企业生命周期阶段发现,财政补贴显著激励了成熟期企业的研发创新,对成长期和衰退期企业的影响较小;进一步细分样本研究揭示,财政补贴对成熟期的非国有企业、高科技企业、非制造业企业和非垄断企业的研发创新存在显著的激励效应,对其他类别的企业无显著影响。将被解释变量替换为各类专利申请、变更企业生命周期划分标准、运用工具变量回归处理潜在的内生性问题,研究结论均稳健成立。本文的研究结论有助于优化财政补贴的配置,提高财政补贴的使用效率。厦门大学经济学院财政系研究生科研创新项目“财税政策、生命周期与企业研发创新”资

Research on the Operating Management Mode of Government Guide Fund in Environmental Protection Area

本文基于国内已有的相关政府引导基金和环保基金的运行管理模式,经分析和比较提出适合中央和地方层面环保类引导基金的运行管理模式。除了要符合基金运作的一般规律,本文认为中央层面设立政府环保类引导基金适合契约制形式,引导基金内只有中央财政出资,按照母基金参股子基金的方式来运作,同时达到撬动社会资本和引入先进基金管理公司的目的;地方层面设立相应基金适合采用有限合伙制形式,直接吸引社会资本与政府共同建立引导基金,投资方式以直接投资为主、参股子基金为辅,可以发挥金融机构的融资优势和环保类专业机构的技术和经验优势。Based on the analysis of operation and management mode in the existing government guide funds or environmental funds in China, this paper proposed operating management mode of government duide fund in environmental protection area suit for the contral and local levels. Besides fitting with the general rules of fund operation, at the central government lever where the fund financing only from government budget, this paper argued that the structure of this fund should be chosen directly contract with the fund manager, then using funds of funds method, introducing social capital and advanced fund managers. At the local government lever, the fund financing from private sector and local government budget, usually private sector being the major investor. Limited partnership should be applied as the structure, and directly invested equity of company as the main option, the funds of funds way supplemented

旧城巷道入口空间现状及优化研究——以厦门市开元路为例

小巷道入口空间作为旧城街巷系统中重要的过渡性空间,在旧城更新中具有特殊的意义,然而在旧城更新改造中时常被宏大的规划和建筑方案所掩盖而显得微不足道。小巷道入口非但不能起到良好的\"引入\"功能,甚至会让人\"望而生畏\",无形中成为社会交往的\"隔断\"。以厦门市开元路两侧的小巷道入口为研究对象,对入口空间存在的主要问题展开调研,包括环境质量、交通出行、社会交往以及文化展示四个方面,并探讨产生这些问题的原因。在此基础上,提出改善空间布局以及加强日常管理等对策

A New Arithmetic to Improve the Multi-timer Timing Accuracy by Using C51 Language with 8051 MCU

为提高8051单片机定时精度,扩展8051系列单片机的用途,本文分析了8051系列单片机定时器溢出中断与CPU响应中断的时间误差。在此基础上,提出了应用C51高级语言对多个定时器进行精确定时的误差补偿方法,并且使用Keil Uvision2仿真调试软件搭建一段数字显示式倒计时的实例程序,通过分析和调试误差补偿算法,使8051单片机在多个定时器同时使用的情况下,定时误差最终小于3个机器周期,是目前8051单片机高精度定时的一种新算法。In order to improve the timing accuracy of 8051MCU and expand the purpose for the series of 8051MCU, this paper analyzed the timing error between the timer interrupt overflow and interrupt response of CPU. It gives the way of solving the multi-timer timing error by using C51 advanced language. Besides it uses the simulate software —— Keil Uvision2 to build a Single chip control digital display of a counting down program, through analyzing and debug the compensate counting of error, it finally makes the error of timing for 8051MCU below 3 machine period in the condition of using the multi-timer timing

硅片表面多金属污染的交流阻抗表征

在接近氢氟酸实际应用浓度条件下,利用交流阻抗技术研究了硅片表面金属微观污染行为,在氢氟酸溶液中分别加入0.5和1μg/g的铜、铁、镍、钙四种金属离子,获得了硅片在单金属溶液中的特征交流阻抗谱,并在此基础上研究了三种金属及四种金属共存时的特征交流阻抗谱,通过等效电路的拟合估算了硅/氢氟酸界面电化学反应的动力学参数,并结合扫描电镜形貌图探讨了不同类型的单金属和多金属对硅电化学行为的影响.结果表明,多金属微观污染是各种单金属协同作用的结果,铜在硅片上发生电化学沉积,直接导致硅片表面粗糙化.铁对硅片表面的破坏严重,同时影响铜的沉积.镍的存在使硅片表面更容易氧化.而钙通过在硅片表面形成氟化钙沉淀物可以钝化表面,减缓铜在硅片表面的沉积

A Prototype of A Maritime City:A Public Service Platform for Ocean-going-Fisheries

几千年来人类活动在陆地上取得翻天覆地的进步,而在海洋上的活动相比较而言变化较慢。主要原因不仅仅是科技的限制,也是海洋活动的组织形式长期没有突破。; 陆地上城市的组织形式由一开始的游牧聚落逐渐发展到后来的定居,接着在规模上由村到镇,最后形成城市。海上城市和陆上城市最基本的区别在于一个在土地上、; 一个在水上。而实际上现代技术完全可以弥补两者的物质形态的差别,但是由于高昂的运营成本使得海上城市一时难以发展。设想,在现代技术的基础上,如果有一; 种商业模式可以平衡海上城市的运营成本,那么海上生活的梦想是不是离我们更进一步了呢?本文从城市的公共服务特性出发,在远洋渔业方面探索一个海上城市组; 织建设的模式。For thousands of years, human activities have made great progress on; land, while activities on the oceans have changed slowly.The main reason; is not only because of the limitation of science and technology, but; also due to there is no breakthrough of the organizationof marine; activities in the long run. The organization of the city on the land; gradually developed from the nomadic life in the beginning to thesettled; life, whose scale is from the "village" to "town", and finally to the; formation of "city". The most basic difference between the oceancity and; the land city is the existence form of material, for which modern; technology can make up. However, thanks to the high operatingcosts, the; ocean city is difficult to develop. Imagine, if there is a business; model can balance the operating costs of the ocean city on the basisof; modern technology, isn't the dream of life on ocean a step further from; us? Based on the characteristics of urban public service, this; paperexplores a model of marine city organization construction in ocean; fishery