Competition and R&D cooperation with universities and competitors

This paper analyses the relationship between competitive environment and R&D cooperation with universities and competitors. Our simple model suggests that cooperation creates benefits in terms of synergies but also induces costs due to spillovers. Since the value of these synergies and spillovers depends on the competitive pressure, cooperation propensity depends on the competitive environment. Differentiating between the dimensions of competition, we hypothesize that university cooperation corresponds to quality competition, while horizontal cooperation relates to price competition. Furthermore, we predict that a higher number of competitors reduces the incentives for horizontal cooperation as it diminishes the gains from “collusion”. We test these hypotheses using Swiss firm-level panel data that allows us to control for simultaneity of cooperation decisions and endogeneity of competition. Our empirical analysis supports the relevance of distinguishing between competition dimensions and cooperation partners, respectively. We find that price competition has an influence on university cooperation in the form of an inverted U. Quality competition only has an influence on university cooperation and the relationship shows a U-form. Moreover, we see that the number of principal competitors reduces cooperation between competitors.     

University-industry interaction and product innovation performance of Guangdong manufacturing firms: the roles of regional proximity and research quality of universities

The Journal of Technology Transfer - This study aims to investigate the direct relationships of university proximity and research quality with the product innovation performance of Chinese firms...     

The M&;A dynamics of European science-based entrepreneurial firms

This paper investigates the dynamics of a sample of 131 science-based entrepreneurial firms (SBEFs), selected out of 500 innovative small and medium enterprises (SMEs) that went public in Europe in the period 1995–2003. We found that the market for control of these firms was active, with most of our sample firms being acquired after their Initial Public Offering (IPO), usually by companies operating within the same industry. Floated SBEFs showed a higher propensity to be acquired than independent firms; this distinction persisted after controlling for intellectual capital and other possible determinants. While university affiliation enhanced attractiveness in the eyes of other companies, it negatively affected the propensity for acquisition. We argue that university-based firms do contribute to the technology transfer process, as evidenced by the widespread interest of the business world in investing in these firms. The creation of a SBEF is a first step in the process of commercial exploitation of university-research, while the subsequent step of going public is a sign of the success of this entrepreneurial venture. The take-over of SBEFs may be a final outcome of the process of knowledge diffusion.     

The Perils of ‘As If’ European Constitutionalism

This review article offers thoughts on Kaarlo Tuori's recent book, European Constitutionalism, and more particularly on what he calls the ‘disciplinary contest over the legal characterisation of the EU and its law’. As the book's title suggests, Tuori privileges the constitutional perspective in that contest, so much so—he freely admits—that his analysis ‘predetermine[s] how the EU and its law will be portrayed’. And therein also lies the book's main weakness. Tuori's predetermined ‘constitutional’ interpretation, like so much of the dominant legal discourse in the EU today, ultimately obscures the core contradiction in EU public law. National institutions are increasingly constrained in the exercise of their own constitutional authority but supranational institutions are unable to fill the void because Europeans refuse to endow them with the sine qua non of genuine constitutionalism: the autonomous capacity to mobilise fiscal and human resources in a compulsory fashion. The EU's lack of constitutional power in this robust sense derives from the absence of the necessary socio‐political underpinnings for genuine constitutional legitimacy—what we can call the power‐legitimacy nexus in EU public law. To borrow Tuori's own evocative phrase, the EU possesses at best a ‘parasitic legitimacy’ derived from the more robust constitutionalism of the Member States as well as from the positive connotations that using ‘constitutional’ terminology evokes regardless of its ultimate aptness. The result is an ‘as if’ constitutionalism, the core feature of which is an increasingly untenable principal‐agent inversion between the EU and the Member States, one with profound consequences for the democratic life of Europeans. The sustainability of integration over the long term depends on confronting these adverse features of ‘European constitutionalism’ directly, something that legal elites—whether EU judges, lawyers, or legal scholars—ignore at their peril.     

“一带一路”背景下中国跨境破产的发展路径选择——新加坡跨境破产发展历程的经验与启示

近年来,新加坡配合经济发展国际化、市场化的需求,积极参与跨境破产合作和协助的磋商,通过谈判加入国际合作模式、修改国内立法等方式,与全球多个国家和地区建立了跨境破产协作关系,在跨境破产领域取得了长足发展,在建立国际跨境破产和债务重整主要中心的道路上稳步前进.①而这一举措也切实为新加坡经济发展带来新的机遇。本文以新加坡跨境破产制度发展的经验为视角,在梳理新加坡跨境破产制度在规则层面的立法演变和司法实践创新的基础上,结合我国的跨境破产现状,提出“一带一路”背景下我国跨境破产发展的路径与方向。     

The influence of trust and collaboration with external partners on appropriability in open service firms

The Journal of Technology Transfer - This study explores how service firms in an open exchange of knowledge protect themselves against opportunistic behavior while trying to acquire some knowledge...     

Public bads and private firms: efficiency and sustainability with different allocations of voting rights

A number of authors have proposed that firms can internalize externalities through their shareholders. This paper investigates this proposition, focusing on public bads. Theoretically it is, indeed, possible that shareholders decide that the firm reduces its public bads at the cost of profits, thereby increasing Pareto-efficiency. One of the factors which help determine the size of the reduction is the number of shareholders with a (very) small stake in the firm. The greater this number, the greater the reduction will tend to be. It is shown that the reduction in public bads can be reversed by takeovers, but under special conditions only while takeover defences may also be used. Unfortunately, there are a number of factors which significantly limit the internalization of external effects in practice. The paper also discusses a change in the legal share-voting system whereby the direct owners of the shares (i.e., the shareholders) no longer possess, in their capacity of direct owners, the legal right to vote at the General Meetings of firm owners. Instead, these rights become the property of the beneficial owners of the shares (i.e., the people who ultimately provided the money to buy the shares), but on the condition that they delegate their voting rights to a proxy voting institution. This institutional innovation may significantly increase the internalization of external effects among other things because many beneficial owners have a tiny stake in the firm.     

As Violence Unfolds: A Space–Time Study of Situational Triggers of Violent Victimization Among Urban Youth

This study clarifies three important issues regarding situational or opportunity theories of victimization: (1) whether engaging in risk activities triggers violent assault during specific, often fleeting moments, (2) how environmental settings along individuals’ daily paths affect their risk of violent assault, and (3) whether situational triggers have differential effects on violent assault during the day versus night. Using an innovative GIS-assisted interview technique, 298 young male violent assault victims in Philadelphia, PA described their activity paths over the course of the day of being assaulted. Case-crossover analyses compared each subject’s exposure status at the time of assault with his own statuses earlier in the day (stratified by daytime and nighttime). Being at an outdoor/public space, conducting unstructured activities, and absence of guardians increase the likelihood of violent victimization at a fine spatial–temporal scale at both daytime and nighttime. Yet, the presence of friends and environmental characteristics have differential effects on violent victimization at daytime versus nighttime. Moreover, individual risk activities appeared to exhibit better predictive performance than did environmental characteristics in our space–time situational analyses. This study demonstrates the value of documenting how individuals navigate their daily activity space, and ultimately advances our understanding of youth violence from a real-time, real-life standpoint.     

Validation of the Acetabulum As a Skeletal Indicator of Age at Death in Modern European‐Americans,

Progressive changes in the acetabulum have been used in modern skeletal age estimation, but they have not been completely understood. If their age correlations are weakened by the influence of factors like physical activity and obesity, acetabular changes should not be used for age estimation. To investigate their utility for aging, the acetabular variables of Rissech et al. (2006) were analyzed in 409 modern European‐Americans (Bass Collection, Tennessee). Correlation tests assessed potential associations between acetabular data, osteoarthritis scores (collected per Jurmain, 1990), and documented demographic information (age, body mass index [BMI], metabolic intensity of physical activities). Acetabular changes had statistically significant, positive correlations with osteoarthritis (p < 0.001 in most joints/regions) and age (p < 0.001), indicating their degenerative nature and relevance for age estimation. Acetabular changes showed no associations with BMI or metabolic values, suggesting resistance to obesity and activity effects. These results suggest that acetabular degeneration is a valid skeletal age‐at‐death indicator.     

The impact of China's 2016 Cyber Security Law on foreign technology firms,and on China's big data and Smart City dreams

Chinese officials are increasingly turning to a policy known as Informatisation, connecting industry online, to utilise technology to improve efficiency and tackle economic developmental problems in China. However, various recent laws have made foreign technology firms uneasy about perceptions of Rule of Law in China. Will these new laws, under China's stated policy of “Network Sovereignty” (“网络主权” “wangluo zhuquan”) affect China's ability to attract foreign technology firms, talent and importantly technology transfers? Will they slow China's technology and Smart City drive? This paper focuses on the question of whether international fears of China's new Cyber Security Law are justified. In Parts I and II, the paper analyses why China needs a cyber security regime. In Parts III and IV it examines the law itself.     

The regular article tracking developments at the national level in key European countries in the area of IT and communications – co-ordinated by Herbert Smith LLP and contributed to by firms across Europe

This column provides a concise alerting service of important national developments in key European countries. Part of its purpose is to compliment the journal's feature articles and briefing notes by keeping readers abreast of what is currently happening “on the ground” at a national level in implementing EU level legislation and international conventions and treaties. Where an item of European National News is of particular significance, CLSR may also cover it in more detail in the current or a subsequent edition.     

The regular article tracking developments at the national level in key European countries in the area of IT and communications – Co-ordinated by Herbert Smith LLP and contributed to by firms across Europe

This column provides a concise alerting service of important national developments in key European countries. Part of its purpose is to complement the Journal's feature articles and Briefing Notes by keeping readers abreast of what is currently happening “on the ground” at a national level in implementing EU level legislation and international conventions and treaties. Where an item of European National News is of particular significance, CLSR may also cover it in more detail in the current or a subsequent edition.     

The regular article tracking developments at the national level in key European countries in the area of IT and communications – Co-ordinated by Herbert Smith LLP and contributed to by firms across Europe

This column provides a concise alerting service of important national developments in key European countries. Part of its purpose is to compliment the Journal's feature articles and Briefing Notes by keeping readers abreast of what is currently happening “on the ground” at a national level in implementing EU level legislation and international conventions and treaties. Where an item of European National News is of particular significance, CLSR may also cover it in more detail in the current or a subsequent edition.     

Evaluation of Cross‐contamination of Nylon Bags with Heavy‐loaded Gasoline Fire Debris and with Automotive Paint Thinner

Nylon bags are used for packaging fire debris in several countries, particularly in Europe. The possibility of cross‐contamination during transport from the fire scene to the laboratory, in normal casework conditions in the U.K., was studied for two brands of nylon bags, using simulated heavy‐loaded fire debris. Three experiments were carried out with each brand, using as sample a piece of cotton fabric soaked with gasoline. One experiment was carried out using automotive paint thinner (oxygenated solvent). Each sample was sealed in a nylon bag and stored in contact with eight empty bags. The empty bags were analysed at regular intervals for a period of time up to 8 weeks, using SPME and GC/MS. Cross‐contamination was found for components of gasoline (toluene and C₂‐alkylbenzenes) in the two brands of nylon bags used, after 4 days and 2 weeks. Cross‐contamination using automotive topcoat thinner was detected after 2 days.     

Medicare program; physicians' referrals; issuance of advisory opinions--HCFA. Final rule with comment period

This final rule with comment period incorporates into HCFA's regulations the provisions of section 1877(g)(6) of the Social Security Act (the Act), as added by section 4314 of the Balanced Budget Act of 1997. Section 1877(g)(6) requires that the Secretary issue written advisory opinions to outside parties concerning whether the referral of a Medicare patient by a physician for certain designated health services (other than clinical laboratory services) is prohibited under the physician referral provisions in section 1877 of the Act. Section 1877 not only prohibits certain referrals under the Medicare program, but also affects Federal financial participation payments to States under the Medicaid program for medical assistance consisting of designated health services furnished as the result of certain physician referrals. This final rule sets forth the specific procedures HCFA will use to issue advisory opinions.     

A snapshot of legal developments and industry issues relevant to information technology, media and telecommunications law in key jurisdictions across the Asia Pacific – Co-ordinated by Lovells and contributed to by other leading law firms in the region

This column provides a country by country snapshot of the latest legal developments, cases and issues relevant to the IT, media and telecommunications industries in key jurisdictions across the Asia Pacific region. The articles appearing in this column are intended to serve as ‘alerts’ and are not submitted as detailed analyses of cases or legal developments.     

A snapshot of legal developments and industry issues relevant to information technology, media and telecommunications law in key jurisdictions across the Asia Pacific – Co-ordinated by Lovells and contributed to by other leading law firms in the region

This column provides a country by country snapshot of the latest legal developments, cases and issues relevant to the IT, media and telecommunications industries in key jurisdictions across the Asia Pacific region. The articles appearing in this column are intended to serve as ‘alerts’ and are not submitted as detailed analyses of cases or legal developments.     

Medicaid program; freedom of choice waiver; conforming changes--HCFA. Interim final rule with comment period

This interim final rule amends existing Medicaid regulations on freedom of choice waivers granted under section 1915(b) of the Social Security Act (the Act) to conform them to the amendments made to the Act by sections 4604 and 4742 of the Omnibus Budget Reconciliation Act of 1990. This rule: Specifies that the Secretary may not waive the requirement that the State plan provide for adjustments in payment for inpatient hospital services furnished to infants under one year of age, or to children under 6 years of age who receive these services in disproportionate share hospitals. Extends to any provider participating under a section 1915(b)(4) waiver the same prompt payment standards that apply to all other health care practitioners furnishing Medicaid services. This rule also makes technical changes in the regulations relating to a recipient's free choice of providers of family planning services and cost-sharing requirements under waivers.     

司法部、商務部、發展改革委相關負責人就 《中華人民共和國外商投資法實施條例》有關問題答記者問

2019年12月26日,國務院總理李克強簽署國務院令公佈《中華人民共和國外商投資法實施條例》(以下簡稱《實施條例》),自2020年1月1日起施行。司法部、商務部、發展改革委負責人就《實施條例》的有關問題回答了記者的提問。