The Effects of Environmental Regulation and Financial Constraints on Corporate R&D Investment in China

被引：3
|
作者：
Li, Hang [1 ]
He, Feng [1 ]
Shao, Yanmin [1 ]
Chen, Lili [1 ]
机构：
[1] Univ Sci & Technol Beijing, Donlinks Sch Econ & Management, 30 Xueyuan Rd, Beijing 100083, Peoples R China
来源：
JOURNAL OF SCIENTIFIC & INDUSTRIAL RESEARCH | 2018年 / 77卷 / 08期
基金：
中国国家自然科学基金;
关键词：
Environmental Regulations; Financial Constraints; R&D Investment; Mediating Effect; COMPETITIVENESS;
D O I：
暂无
中图分类号：
T [工业技术];
学科分类号：
08 ;
摘要：
Based on a panel dataset of non-financial listed firms during 2007-2014 in China, we examine both independent and combined effects of environmental regulations and financial constraints on corporate R&D investment. In addition, we uncover the underlying mechanism of how both indicators affect R&D investment through three financing sources. The results show that: (1) Environmental regulations can significantly promote R&D investment, while financial constraints have the opposite effects. (2) Among the three financing sources, environmental regulations promote R&D investment only by internal financing, while financial constraints inhibit R&D investment by all three financing sources.
引用
收藏
页码：442 / 446
页数：5
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