Employment protection legislation and R&D investment

被引：3
|
作者：
Tran, Quoc Trung [1 ,2 ]
机构：
[1] Foreign Trade Univ, Ho Chi Minh City Campus, Ho Chi Minh City, Vietnam
[2] Foreign Trade Univ, Ho Chi Minh City Campus, 15 D5 St,Ward 25, Ho Chi Minh City, Vietnam
来源：
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2023年 / 64卷
关键词：
Employment protection; R&D; Investment; Investment efficiency; CORPORATE; FINANCE; FIRMS; LAW; SENSITIVITY; MATTER; COSTS; CASH;
D O I：
10.1016/j.ribaf.2022.101811
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines how employment protection legislation influences corporate R&D investment. With a sample of 113,228 observations across 23 OECD countries from 2001 to 2018, I document that firms in strong employment protection legislation have lower R&D expenditure and investment efficiency. In addition, I find that the effect of employment protection on R&D expenditure is stronger in financially constrained firms but the effect of employment protection on R&D investment efficiency is stronger in financially unconstrained firms.
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页数：9
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