How Does COVID-19 Affect Corporate Research and Development? Evidence from China

被引：0
|
作者：
Zhuang, Qinqin [1 ]
Luo, Weijie [2 ]
Li, Yupeng [3 ,4 ]
机构：
[1] Chinese Acad Social Sci, Inst Quantitat & Tech Econ, Beijing, Peoples R China
[2] Beijing Int Studies Univ, Sch Econ, Beijing 100024, Peoples R China
[3] Cent Univ Finance & Econ, Sch Int Trade & Econ, Beijing, Peoples R China
[4] Cornell Univ, Charles H Dyson Sch Appl Econ & Management, Ithaca, NY USA
来源：
EMERGING MARKETS FINANCE AND TRADE | 2023年 / 59卷 / 09期
基金：
中国国家自然科学基金;
关键词：
COVID-19; research and development; revenue; financing constraint; FIRM INNOVATION;
D O I：
10.1080/1540496X.2023.2199115
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines how COVID-19 affects firm research and development (R&D) using the data of Chinese-listed companies from 2018 to 2020. Our results show that COVID-19 significantly inhibits firm R&D input. However, such significant evidence mainly exists on firms classified as private enterprises, with smaller size, or belonging to high-technology industries. Moreover, we find evidence that the epidemic reduces firm revenue but, in the meantime, increases the financing constraint, leading to less R&D investment. The conclusion of this study provides a theoretical basis and practical reference for enterprises to make better decisions on innovative activities.
引用
收藏
页码：3011 / 3023
页数：13
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