Peer Effects in R&D Investment Policy: Evidence from China

Using a typical linear model on a sample of listed firms in China over a period of ten years (2006-2016), this study empirically attempts proving how peer effects influence corporate research and development (R&D) investment decision. The study goes further to demonstrate that peer effects play a significant and critical role in determining corporate R&D investment policies, and by extension the more important determinant than traditional firm-specific factors. After dealing with endogeneity bias and conducting further robustness checks, the above conclusions were valid in this study. It has been theorized in contemporary research that both information and market competition are the main channels through which one can best appreciate peer effects and that firms with weak information acquisition ability and in highly uncertain or competitive environment are more likely to be affected by peer groups. We also find evidence that a firm’s R&D investment status relative to its peer firms will affect its R&D investment decision. Moreover, the direction of peer effects follows the law of imitation. Thus, firms are more likely to imitate those peers who share similar characteristics. Yet, leading firms and state-owned enterprises (SOEs) are exceptionally different as their R&D decisions are sensitive to both peer-followers and non-SOEs respectively

Culture and happiness

Culture is an important factor affecting happiness. This paper examines the predictive power of cultural factors on the cross-country differences in happiness and explores how different dimensions of cultural indices differ in their effects on happiness. Our empirical results show that the global leadership and organizational behavior effectiveness nine culture indices are all significantly related with happiness. Out of these nine indices, power distance (PDI) and gender egalitarianism (GEI) play the most important and stable role in determining subjective well-being (SWB). We further examine the relative importance of the various variables in contributing to the R-squared of the regression. The results show that PDI is the most important, accounting for 50 % of the contributions to R-squared of all variables, or equalling the combined contributions of income, population density and four other traditional variables. The contribution of GEI is 37.1 %, also well surpassing other variables. Our results remain robust even taking account of the different data for culture and SWB

Two-tier stochastic frontier analysis using Stata

In this article, we introduce the sftt command, which fits two-tier stochastic frontier (2TSF) models with cross-sectional data. Like most frontier models, a 2TSF model consists of a linear frontier model and a composite error term. The error term is assumed to be a mixture of three components: two onesided inefficiency terms—strictly nonnegative and nonpositive, respectively—and a symmetric noise term. When providing appropriate distributional assumptions, sftt can fit models with exponential and half-normal specifications. sftt also fits 2TSF models with the scaling property to mitigate concerns over distributional specifications. In addition, we provide two subcommands, sftt sigs and sftt eff, to assist in postestimation efficiency analysis. We provide an overview of the 2TSF literature, a description of the sftt command and its options, and examples using simulated and actual data

Key Factors, Planning Strategy and Policy for Low-Carbon Transport Development in Developing Cities of China

Exploring key impact factors and their effects on urban residents’ transport carbon dioxide (CO2) emissions is significant for effective low-carbon transport planning. Researchers face the model uncertainty problem to seek a rational and better explanatory model and the key variables in the model set containing various factors after they are arranged and combined. This paper uses the Bayesian Model Averaging method to solve the above problem, explore the key variables, and determine their relative significance and averaging effects. Beijing, Xi’an, and Wuhan are selected as three case cities for their representation of developing Chinese cities. We found that the initial key factor increasing transport emissions is the high dependence on cars, and the second is the geographical location factor that much more suburban residents suffer longer commuting. Developing satellite city rank first for reducing transport emissions due to more local trips with an average short distance, the second is the metro accessibility, and the third is polycentric form. Key planning strategies and policies are proposed: (i) combining policies of car restriction based on vehicle plate number, encouraging clean fuel cars, a carbon tax on oil uses, and rewarding public transit passengers; (ii) fostering subcenters’ strong industries to develop self-contained polycentric structures and satellite cities, and forming employment and life circle within 5 km radius; and (iii) integrating bus and rail transit services in the peripheral areas and suburbs and increasing the integration level of muti-modes transferring in transport hubs. The findings will offer empirical evidence and reference value in developing cities globally

Multiplex Detection of Five Canine Viral Pathogens for Dogs as Laboratory Animals by the Luminex xTAG Assay

More and more dogs have been used as a disease model for medical research and drug safety evaluation. Therefore, it is important to make sure that the dogs and their living houses are special pathogen free. In this study, the development and evaluation of a Luminex xTAG assay for simultaneous detection of five canine viruses was carried out, including canine distemper virus, canine parvovirus, canine parainfluenza virus, canine adenovirus, and rabies virus. Assay specificity was accomplished by targeting conserved genomic regions for each virus. Hybridization between multiplexed PCR products and the labeled fluorescence microspheres was detected in a high throughput format using a Luminex fluorescence reader. The Luminex xTAG assay showed high sensitivity with limits of detection for the five viruses was 100 copies/μL. Specificity of the xTAG assay showed no amplification of canine coronavirus, pseudorabies virus and canine influenza virus indicating that the xTAG assay was specific. Seventy-five clinical samples were tested to evaluate the xTAG assay. The results showed 100% coincidence with the conventional PCR method. This is the first report of a specific and sensitive multiplex Luminex xTAG assay for simultaneous detection of five major canine viral pathogens. This assay will be a useful tool for quality control and environmental monitoring for dogs used as laboratory animals, may even be applied in laboratory epidemiological investigations

ZNF667 Serves as a Putative Oncogene in Human Hepatocellular Carcinoma

Background/Aims: Zinc finger protein 667 (ZNF667) is a member of C2H2 zinc finger protein family. For the first time, we aim to analyze the expression pattern of ZNF667 in hepatocellular carcinoma (HCC) tissues; to explore its role in HCC tumorigenesis. Methods: Immuno-histochemistry was carried out to characterize the ZNF667 expression in paraffin-embedded HCC samples. The relationship between ZNF667 expression and the clinical, pathological data of the patients were analyzed. Human normal hepatocyte cells LO2 over expressing ZNF667 (LO2-ZNF667 cells), ZNF667 depleted hepatocellular carcinoma HepG2 cells (HepG2-shZNF667 cells) were set up, their proliferation, migration and invasion abilities were analyzed. Xenograft nude mice were used to analyze the malignancy of HepG2-shZNF667 cells in vivo. Western blot was performed to analyze the expression of Bcl-2 and BAX in LO2-ZNF667 and HepG2-shZNF667 cells. Results: Increased ZNF667 was found via immuno-histochemistry in HCC. Enhanced ZNF667 expression was associated with tumor size, clinical stage and tumor differentiation. LO2-ZNF667 cells displayed increased and HepG2-shZNF667 cells decreased cell proliferation, migration and invasion. Xenograft experiments proved reduced malignancy of HepG2-shZNF667 cells in vivo. LO2-ZNF667 cells displayed increased Bcl-2 and decreased BAX protein expression. HepG2-shZNF667 cells displayed enhanced BAX and inhibited BCL-2 expression. Conclusions: ZNF667 is shown to be a new oncogene in HCC and it may serve as a new therapeutic target for HCC via enhancing BCL-2 and decreasing BAX expression