Geopolitical risk and corporate innovation: Evidence from China

被引：24
|
作者：
Jia, Shaoqing [1 ]
Yang, Liuyong [1 ]
Zhou, Fangzhao [2 ]
机构：
[1] Zhejiang Univ, Sch Econ, Hangzhou 310058, Zhejiang, Peoples R China
[2] Jiangnan Univ, Sch Business, Wuxi 214122, Jiangsu, Peoples R China
来源：
JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT | 2022年 / 66卷
关键词：
Geopolitical risk; Corporate innovation; R & Patent; Risk exposure; RESEARCH-AND-DEVELOPMENT; ECONOMIC-POLICY UNCERTAINTY; POLITICAL UNCERTAINTY; PROFITABILITY; SENTIMENT;
D O I：
10.1016/j.mulfin.2022.100772
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the impact of geopolitical risk (GPR) on corporate innovation in China. Using the GPR Index constructed by Caldara and Iacoviello (2018), we find that, first, GPR has a significantly positive effect on corporate innovation. Second, the effect is more pronounced for state-owned firms and firms with more government subsidies, overseas businesses, and product market competition. Third, GPR motivates firms to innovate mainly through the degree of threat. Finally, heterogeneous exposure to GPR is positively correlated with corporate innovation. This study enriches the empirical research on the impact of GPR on corporate decision-making.
引用
收藏
页数：22
相关论文
共 50 条
  • [1] Geopolitical Risk and Corporate ESG Performance: Evidence from China
    Kuai, Yicheng
    Wang, Huixin
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2024,
  • [2] How Does Geopolitical Risk Affect Corporate Innovation? Evidence from China's Listed Companies
    Lee, Chi-Chuan
    Zhang, Jian
    Yu, Chin-Hsien
    Fang, Lei
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2023, 59 (07) : 2217 - 2233
  • [3] Geopolitical risk and corporate innovation: Evidence from risk preference and risk-taking capacity perspectives
    Wang, Xueting
    Wang, Man
    [J]. ECONOMICS LETTERS, 2024, 241
  • [4] Trust and Corporate Innovation: Evidence From China
    Zhang, Bo
    Zhou, Ruixue
    Wang, Wenxin
    [J]. JOURNAL OF ACCOUNTING AUDITING AND FINANCE, 2024, 39 (04): : 1044 - 1068
  • [5] The Blockchain and Corporate Innovation: Evidence from China
    Zhang, Ping
    Huang, Suqin
    Wang, Tewei
    [J]. EMERGING MARKETS FINANCE AND TRADE, 2024,
  • [6] Corporate innovation and internationalization: Evidence from China
    Fang, Fang
    [J]. FINANCE RESEARCH LETTERS, 2023, 56
  • [7] Geopolitical hostility and corporate innovation: Evidence from US high-tech firms in trade sectors with China
    Qiao, Yankuo
    [J]. ECONOMICS & POLITICS, 2024, 36 (01) : 517 - 556
  • [8] How does climate risk affect corporate innovation? Evidence from China
    Li, Bin
    Yao, Yao
    Usman, Muhammad
    Han, Miaodi
    [J]. ACCOUNTING AND FINANCE, 2023,
  • [9] ESG performance, corporate innovation and downside risk: empirical evidence from China
    Lin, Binghong
    Li, Bingxiang
    [J]. INTERNATIONAL JOURNAL OF EMERGING MARKETS, 2024,
  • [10] How climate risk drives corporate green innovation: Evidence from China
    Tian, Ye
    Chen, Songbo
    Dai, Li
    [J]. FINANCE RESEARCH LETTERS, 2024, 59
12345