In a sample of 485 Chinese public high-tech companies, we show that the R&D investment is significantly dependent on internal cash flow. Based on the sizable discrepancies of stock market and financial intermediary developments in the East, Middle and West regions of China, empirical estimation...

We apply the Q-Theory investment model to a panel of high-tech firms listed on the Chinese stock market during 2008 and 2011, to study the effect of financial development in reducing financing constraints of firm's R&D growth. Based on the sizable discrepancies of stock market and financial...

ELISA technology has received great attention in in vitro diagnosis due to its high specificity, low cost and high throughput. However, the traditional ELISA technology is tedious, lack of multiple detection capabilities, and is not easy to implement in point-of-care (POC) settings. The...

Synthetic biology enabling technologies have been harnessed to create new diagnostic technologies. However, most strategies involve error-prone amplification steps and limitations of accuracy in RNA detection. Here, a cell-free synthetic biology-powered biosensing strategy, termed as SHARK ( S...

Rational design of high-efficient, low-cost and stable bifunctional electrocatalysts is absolutely necessary but challenging for water electrolysis. Transition metal phosphides (TMPs) with rich redox properties are considered to be the most promising substitutes for noble-metal materials but...

Excess sludge from wastewater treatment plants (WWTPs), the hotpot of antibiotic resistance genes (ARGs), is widely deposed by composting due to abundant nutrients. However, few studies applied sludge compost products (SCP) as soil amendments because of ARGs and heavy metals in sludge. To...

This paper demonstrates the relevance of strategy constraints on market makers to the possibility of financial market breakdown when there is information asymmetry between market makers and investors; both the case of competitive market makers and the case of a monopolistic market marker are...

In this paper we show, in an incomplete contracts framework which combines asymmetric information and moral hazard, that by permitting insiders to trade on personal account the equilibrium level of output can be increased and shareholder welfare can be improved. This result follows for two...