The asset specialization of military industry takes effect on the transaction cost and determines the form of the economic organization.

军工资产专用性的存在影响交易成本，决定不同的经济组织形式。

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The specialization level of the company and whether there was a proprietary asset management company both had significant positive influence on the social efficiency.

并且，保险公司的专业化程度及所属集团下设立资产管理公司对社会效率都具有显著正影响。

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This dynamic, coupled with the increasing sophistication and specialization of the CRO ecosystem, has enabled the creation of single-asset deals with defined liquidity paths via structured buyouts.

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