Investment with Intangible Assets of Chinese Research Institutions

Liu Yanrui; Ding Minglei

doi:doi:10.11648/j.ajasr.20180402.14

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Investment with Intangible Assets of Chinese Research Institutions

Liu Yanrui, Ding Minglei

Published in American Journal of Applied Scientific Research (Volume 4, Issue 2)

Received: 10 September 2018 Accepted: 18 October 2018 Published: 10 November 2018

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Abstract

Chinese research institutions and universities used to have to face many problems when they invested with their intangible technical assets, such as complicated examination and approval procedures for the disposal of scientific and technological achievements, unreasonable design of income tax system for technology investment, the difficulty in executing equity incentives, and the lack of motivation to researchers. The newly revised Law of the People's Republic of China on Promoting the Transformation of Scientific and Technological Achievements in 2015, and the supporting policies and measures subsequently introduced improved the systems regarding the management of scientific and technological achievements and technology investment. However, after a large number of interviews and literature research, the authors find that now there are still some obstacles for value-based investment, such as the mandatory technology investment evaluation does not conform to the law of the transformation of scientific and technological achievements, corporate capital increase and exit mechanism are not smooth after technology investment, ownership of state-owned influence the enthusiasm of the transformation of scientific and technological achievements. At the same time, get the conclusion that duties, obligations, and interests of researchers, technology transfer personnel and institutions, legal entities, and government departments are important factors that influence the transfer of technology conducted by research institutions and universities; As a special commodity, scientific and technological achievement can realize their real value only after it enters the market. Its industrialization process may be successful or failed, as there are lots of uncertainties and risks; Existing state-owned asset management policy equates technical intangible assets with tangible assets management, and stipulates that public research institutions and universities must evaluate the value of scientific and technological achievements they possess or enterprises invested when investing with technology, increasing capital or withdrawing shares, to fulfill the obligation to maintain and increase the value of state-owned assets of scientific and technological achievements. Formalistic assessment, long review cycle and the lack of evaluation standards are obstacles for investment with technical intangible assets by research institutions. For this, the author suggests exploring the mixed ownership for scientific and technological achievements, establishing special intangible assets evaluation criteria based on The General Rules for Science and Technology Research Projects Evaluation, and a system combining mandatory assessment evaluation and selective evaluation.

Published in	American Journal of Applied Scientific Research (Volume 4, Issue 2)
DOI	10.11648/j.ajasr.20180402.14
Page(s)	28-32
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2018. Published by Science Publishing Group

Keywords

Chinese Research Institutions and Universities, Technology Investment, State-Owned Assets, Evaluation, Mixed Ownership

References

[1]	Zhao Jie et al. Study of Problems in Technology Investment in Transformation of Scientific and Technological Achievements [J] Studies in Science of Science, 2011, v. 29; No. (10) 47-51.
[2]	Accounting Standard for Business Enterprises No. 6-Intangible Assets [EB/OL]. [2013-11-12] http://kjs.mof.gov.cn/zhuantilanmu/kuaijizhuanzeshishi/200806/t20080618_46242.html.
[3]	Wang Juncai & Luo Xiaowen. Analysis of Defects of Knowledge Intangible Assets Pricing [J]. Journal of Central University of Finance & Economics, 2006, No. (9):88-92.
[4]	Xue Shijia. Research on Legal Problems of Intangible Assets Evaluation of Chinese State-owned Enterprises [D]. Master Theses of Zhejiang University, 2012.
[5]	Yue Xianping. Evaluation of Patent Assets of the Transaction of IPR at Home and Abroad [J]. Forum on Science and Technology in China, 2010, No. (8): 152-157.
[6]	Zhang Ying. Study on Legal Issues about Contribution of Intangible Assets [D]. Master Theses of Northwest University, 2011.
[7]	Chen Baoming. Study on Countermeasures to Accelerate the Reform of State-owned Technical Intangible Assets Management [J]. Technology Innovation and Productivity, 2012, No. (9): 6-10.
[8]	Chen Baoming. Main Obstacles for Technology Investment in and Solutions [J]. Science, Technology and Law, 2012, v. 100; No. (6): 39-42.
[9]	Kan Ke & Wang Zhigang. Interpretation of Law of the People’s Republic of China on Promoting the Transformation of Scientific and Technological Achievements, China Democracy and Legal System Publishing House, 2015: 20-21.
[10]	About Technology Investment, https://zhidao.baidu.com/question/54541055.html.
[11]	Li Yingbo, Zhou Li, and He Jiankun. Strategic Effect of International Technology Transfer by Research Universities in the Course of Building An Innovative University [J], China Soft Science, 2007, (04): 134-139.
[12]	Zhang Mingshen. How to Deal with the Curse of State-Owned Assets Hindering the Technology-Stock --An Example of Mixed Ownership Reform in Chengdu [J], Reform of Economic System, 2017, No. (6): 117.

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APA Style

Liu Yanrui, Ding Minglei. (2018). Investment with Intangible Assets of Chinese Research Institutions. American Journal of Applied Scientific Research, 4(2), 28-32. https://doi.org/10.11648/j.ajasr.20180402.14

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ACS Style

Liu Yanrui; Ding Minglei. Investment with Intangible Assets of Chinese Research Institutions. Am. J. Appl. Sci. Res. 2018, 4(2), 28-32. doi: 10.11648/j.ajasr.20180402.14

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AMA Style

Liu Yanrui, Ding Minglei. Investment with Intangible Assets of Chinese Research Institutions. Am J Appl Sci Res. 2018;4(2):28-32. doi: 10.11648/j.ajasr.20180402.14

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@article{10.11648/j.ajasr.20180402.14,
  author = {Liu Yanrui and Ding Minglei},
  title = {Investment with Intangible Assets of Chinese Research Institutions},
  journal = {American Journal of Applied Scientific Research},
  volume = {4},
  number = {2},
  pages = {28-32},
  doi = {10.11648/j.ajasr.20180402.14},
  url = {https://doi.org/10.11648/j.ajasr.20180402.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajasr.20180402.14},
  abstract = {Chinese research institutions and universities used to have to face many problems when they invested with their intangible technical assets, such as complicated examination and approval procedures for the disposal of scientific and technological achievements, unreasonable design of income tax system for technology investment, the difficulty in executing equity incentives, and the lack of motivation to researchers. The newly revised Law of the People's Republic of China on Promoting the Transformation of Scientific and Technological Achievements in 2015, and the supporting policies and measures subsequently introduced improved the systems regarding the management of scientific and technological achievements and technology investment. However, after a large number of interviews and literature research, the authors find that now there are still some obstacles for value-based investment, such as the mandatory technology investment evaluation does not conform to the law of the transformation of scientific and technological achievements, corporate capital increase and exit mechanism are not smooth after technology investment, ownership of state-owned influence the enthusiasm of the transformation of scientific and technological achievements. At the same time, get the conclusion that duties, obligations, and interests of researchers, technology transfer personnel and institutions, legal entities, and government departments are important factors that influence the transfer of technology conducted by research institutions and universities; As a special commodity, scientific and technological achievement can realize their real value only after it enters the market. Its industrialization process may be successful or failed, as there are lots of uncertainties and risks; Existing state-owned asset management policy equates technical intangible assets with tangible assets management, and stipulates that public research institutions and universities must evaluate the value of scientific and technological achievements they possess or enterprises invested when investing with technology, increasing capital or withdrawing shares, to fulfill the obligation to maintain and increase the value of state-owned assets of scientific and technological achievements. Formalistic assessment, long review cycle and the lack of evaluation standards are obstacles for investment with technical intangible assets by research institutions. For this, the author suggests exploring the mixed ownership for scientific and technological achievements, establishing special intangible assets evaluation criteria based on The General Rules for Science and Technology Research Projects Evaluation, and a system combining mandatory assessment evaluation and selective evaluation.},
 year = {2018}
}

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TY  - JOUR
T1  - Investment with Intangible Assets of Chinese Research Institutions
AU  - Liu Yanrui
AU  - Ding Minglei
Y1  - 2018/11/10
PY  - 2018
N1  - https://doi.org/10.11648/j.ajasr.20180402.14
DO  - 10.11648/j.ajasr.20180402.14
T2  - American Journal of Applied Scientific Research
JF  - American Journal of Applied Scientific Research
JO  - American Journal of Applied Scientific Research
SP  - 28
EP  - 32
PB  - Science Publishing Group
SN  - 2471-9730
UR  - https://doi.org/10.11648/j.ajasr.20180402.14
AB  - Chinese research institutions and universities used to have to face many problems when they invested with their intangible technical assets, such as complicated examination and approval procedures for the disposal of scientific and technological achievements, unreasonable design of income tax system for technology investment, the difficulty in executing equity incentives, and the lack of motivation to researchers. The newly revised Law of the People's Republic of China on Promoting the Transformation of Scientific and Technological Achievements in 2015, and the supporting policies and measures subsequently introduced improved the systems regarding the management of scientific and technological achievements and technology investment. However, after a large number of interviews and literature research, the authors find that now there are still some obstacles for value-based investment, such as the mandatory technology investment evaluation does not conform to the law of the transformation of scientific and technological achievements, corporate capital increase and exit mechanism are not smooth after technology investment, ownership of state-owned influence the enthusiasm of the transformation of scientific and technological achievements. At the same time, get the conclusion that duties, obligations, and interests of researchers, technology transfer personnel and institutions, legal entities, and government departments are important factors that influence the transfer of technology conducted by research institutions and universities; As a special commodity, scientific and technological achievement can realize their real value only after it enters the market. Its industrialization process may be successful or failed, as there are lots of uncertainties and risks; Existing state-owned asset management policy equates technical intangible assets with tangible assets management, and stipulates that public research institutions and universities must evaluate the value of scientific and technological achievements they possess or enterprises invested when investing with technology, increasing capital or withdrawing shares, to fulfill the obligation to maintain and increase the value of state-owned assets of scientific and technological achievements. Formalistic assessment, long review cycle and the lack of evaluation standards are obstacles for investment with technical intangible assets by research institutions. For this, the author suggests exploring the mixed ownership for scientific and technological achievements, establishing special intangible assets evaluation criteria based on The General Rules for Science and Technology Research Projects Evaluation, and a system combining mandatory assessment evaluation and selective evaluation.
VL  - 4
IS  - 2
ER  -

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Author Information

Liu Yanrui

Department of Science and Technology Policy, Beijing Radiation Center, Beijing Research Center for Science of Science, Beijing, China
Ding Minglei

Institute of Comprehensive Development, Chinese Academy of Science and Technology for Development, Beijing, China

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Liu Yanrui, Ding Minglei. (2018). Investment with Intangible Assets of Chinese Research Institutions. American Journal of Applied Scientific Research, 4(2), 28-32. https://doi.org/10.11648/j.ajasr.20180402.14

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ACS Style

Liu Yanrui; Ding Minglei. Investment with Intangible Assets of Chinese Research Institutions. Am. J. Appl. Sci. Res. 2018, 4(2), 28-32. doi: 10.11648/j.ajasr.20180402.14

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AMA Style

Liu Yanrui, Ding Minglei. Investment with Intangible Assets of Chinese Research Institutions. Am J Appl Sci Res. 2018;4(2):28-32. doi: 10.11648/j.ajasr.20180402.14

Copy | Download

@article{10.11648/j.ajasr.20180402.14,
  author = {Liu Yanrui and Ding Minglei},
  title = {Investment with Intangible Assets of Chinese Research Institutions},
  journal = {American Journal of Applied Scientific Research},
  volume = {4},
  number = {2},
  pages = {28-32},
  doi = {10.11648/j.ajasr.20180402.14},
  url = {https://doi.org/10.11648/j.ajasr.20180402.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajasr.20180402.14},
  abstract = {Chinese research institutions and universities used to have to face many problems when they invested with their intangible technical assets, such as complicated examination and approval procedures for the disposal of scientific and technological achievements, unreasonable design of income tax system for technology investment, the difficulty in executing equity incentives, and the lack of motivation to researchers. The newly revised Law of the People's Republic of China on Promoting the Transformation of Scientific and Technological Achievements in 2015, and the supporting policies and measures subsequently introduced improved the systems regarding the management of scientific and technological achievements and technology investment. However, after a large number of interviews and literature research, the authors find that now there are still some obstacles for value-based investment, such as the mandatory technology investment evaluation does not conform to the law of the transformation of scientific and technological achievements, corporate capital increase and exit mechanism are not smooth after technology investment, ownership of state-owned influence the enthusiasm of the transformation of scientific and technological achievements. At the same time, get the conclusion that duties, obligations, and interests of researchers, technology transfer personnel and institutions, legal entities, and government departments are important factors that influence the transfer of technology conducted by research institutions and universities; As a special commodity, scientific and technological achievement can realize their real value only after it enters the market. Its industrialization process may be successful or failed, as there are lots of uncertainties and risks; Existing state-owned asset management policy equates technical intangible assets with tangible assets management, and stipulates that public research institutions and universities must evaluate the value of scientific and technological achievements they possess or enterprises invested when investing with technology, increasing capital or withdrawing shares, to fulfill the obligation to maintain and increase the value of state-owned assets of scientific and technological achievements. Formalistic assessment, long review cycle and the lack of evaluation standards are obstacles for investment with technical intangible assets by research institutions. For this, the author suggests exploring the mixed ownership for scientific and technological achievements, establishing special intangible assets evaluation criteria based on The General Rules for Science and Technology Research Projects Evaluation, and a system combining mandatory assessment evaluation and selective evaluation.},
 year = {2018}
}

Copy | Download

TY  - JOUR
T1  - Investment with Intangible Assets of Chinese Research Institutions
AU  - Liu Yanrui
AU  - Ding Minglei
Y1  - 2018/11/10
PY  - 2018
N1  - https://doi.org/10.11648/j.ajasr.20180402.14
DO  - 10.11648/j.ajasr.20180402.14
T2  - American Journal of Applied Scientific Research
JF  - American Journal of Applied Scientific Research
JO  - American Journal of Applied Scientific Research
SP  - 28
EP  - 32
PB  - Science Publishing Group
SN  - 2471-9730
UR  - https://doi.org/10.11648/j.ajasr.20180402.14
AB  - Chinese research institutions and universities used to have to face many problems when they invested with their intangible technical assets, such as complicated examination and approval procedures for the disposal of scientific and technological achievements, unreasonable design of income tax system for technology investment, the difficulty in executing equity incentives, and the lack of motivation to researchers. The newly revised Law of the People's Republic of China on Promoting the Transformation of Scientific and Technological Achievements in 2015, and the supporting policies and measures subsequently introduced improved the systems regarding the management of scientific and technological achievements and technology investment. However, after a large number of interviews and literature research, the authors find that now there are still some obstacles for value-based investment, such as the mandatory technology investment evaluation does not conform to the law of the transformation of scientific and technological achievements, corporate capital increase and exit mechanism are not smooth after technology investment, ownership of state-owned influence the enthusiasm of the transformation of scientific and technological achievements. At the same time, get the conclusion that duties, obligations, and interests of researchers, technology transfer personnel and institutions, legal entities, and government departments are important factors that influence the transfer of technology conducted by research institutions and universities; As a special commodity, scientific and technological achievement can realize their real value only after it enters the market. Its industrialization process may be successful or failed, as there are lots of uncertainties and risks; Existing state-owned asset management policy equates technical intangible assets with tangible assets management, and stipulates that public research institutions and universities must evaluate the value of scientific and technological achievements they possess or enterprises invested when investing with technology, increasing capital or withdrawing shares, to fulfill the obligation to maintain and increase the value of state-owned assets of scientific and technological achievements. Formalistic assessment, long review cycle and the lack of evaluation standards are obstacles for investment with technical intangible assets by research institutions. For this, the author suggests exploring the mixed ownership for scientific and technological achievements, establishing special intangible assets evaluation criteria based on The General Rules for Science and Technology Research Projects Evaluation, and a system combining mandatory assessment evaluation and selective evaluation.
VL  - 4
IS  - 2
ER  -

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