Economic policy uncertainty, financial asset allocation, and enterprise innovation

被引：0
|
作者：
Chen, Xiaoming [1 ]
Wu, Dan [2 ]
Liu, Qiren [1 ]
Li, Xiaoshan [1 ]
机构：
[1] Guangzhou Univ, Sch Econ & Stat, Guangzhou, Peoples R China
[2] South China Univ Technol, Sch Econ & Finance, Guangzhou, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2025年
关键词：
Economic policy uncertainty; enterprise innovation; financial asset allocation; CASH HOLDINGS;
D O I：
10.1080/13504851.2025.2476753
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article establishes a regression analysis on China A-share listed enterprises with relevant data in 2013-2023, testing the enterprise innovation behaviour in the face of economic policy uncertainty (EPU), and further analysing the mediating role of financial asset allocation in it. The results show that: (1) EPU significantly can promote enterprise innovations; (2) in the face of EPU, liquid financial asset allocation plays a mediating role in increasing enterprise innovation; (3) non-liquid financial asset allocation plays a mediating role in reducing enterprise innovation.
引用
收藏
页数：7
相关论文
共 50 条
  • [1] Financial asset allocations, economic policy uncertainty, and enterprise digital transformation
    Shao, Xuefeng
    Wang, Longqi
    Li, Xinda
    MANAGERIAL AND DECISION ECONOMICS, 2024, 45 (04) : 2613 - 2626
  • [2] Economic Policy Uncertainty and Financial Innovation: Is There Any Affiliation?
    Jia, Zeng
    Mehta, Ahmed Muneeb
    Qamruzzaman, Md.
    Ali, Majid
    FRONTIERS IN PSYCHOLOGY, 2021, 12
  • [3] Financial asset allocation and green innovation
    Duan, Jun
    Liu, Tingting
    Yang, Xiaoran
    Yang, Hua
    Gao, Yunwei
    GREEN FINANCE, 2023, 5 (04): : 512 - 537
  • [4] Customer Concentration, Economic Policy Uncertainty and Enterprise Sustainable Innovation
    Zhong, Tingyong
    Zuo, Yimeng
    Sun, Fangcheng
    Lee, Jeoung Yul
    SUSTAINABILITY, 2020, 12 (04)
  • [5] Economic policy uncertainty and enterprise ambidextrous innovation: Exploration or exploitation?
    Wang, Wenna
    Yang, Zhen
    Chen, Jin
    He, Jun
    JOURNAL OF TECHNOLOGY TRANSFER, 2024, 49 (04): : 1234 - 1258
  • [6] Digital transformation and enterprise financial asset allocation
    Liu, Yan
    Wei, Haoyu
    APPLIED ECONOMICS, 2024,
  • [7] Navigating uncertainty: The impact of economic policy on corporate data asset allocation
    Chen, Rongda
    Tao, Kerun
    Jin, Chenglu
    Zhang, Jiacheng
    Zhang, Shuonan
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2025, 97
  • [8] Geopolitical risk, economic policy uncertainty and asset returns in Chinese financial markets
    Chiang, Thomas C.
    CHINA FINANCE REVIEW INTERNATIONAL, 2021, 11 (04) : 474 - 501
  • [9] Is Financial Innovation Bestowed or a Curse for Economic Sustainably: The Mediating Role of Economic Policy Uncertainty
    Xu, Shuhua
    Qamruzzaman, Md.
    Adow, Anass Hamadelneel
    SUSTAINABILITY, 2021, 13 (04) : 1 - 18
  • [10] Corporate financial asset holdings under economic policy uncertainty: Precautionary saving or speculating?
    Huang, Jialin
    Luo, Yu
    Peng, Yuchao
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2021, 76 : 1359 - 1378
12345