Inflexibility and corporate innovation: Cross-country evidence

被引:2
|
作者
Ge, Jianjun [1 ,2 ]
Li, Donghui [3 ,7 ]
Ni, Yingzhao [4 ,8 ]
Yang, Shijie [5 ,6 ]
机构
[1] Guizhou Univ Finance & Econ, Guiyang, Peoples R China
[2] Guizhou Key Lab Big Data Stat Anal, Guiyang, Peoples R China
[3] Shenzhen Univ, Coll Econ, Shenzhen, Peoples R China
[4] Jinan Univ, Sch Management, Guangzhou, Peoples R China
[5] Chinese Univ Hong Kong, Sch Management & Econ, Shenzhen, Peoples R China
[6] Shenzhen Finance Inst, Shenzhen, Peoples R China
[7] Shenzhen Univ, Coll Econ, Shenzhen 518060, Guangdong, Peoples R China
[8] Jinan Univ, Sch Management, Guangzhou 510632, Guangdong, Peoples R China
基金
中国国家自然科学基金;
关键词
Scale Inflexibility; Scale Adjustment Costs; Corporate Innovation; INTELLECTUAL PROPERTY-RIGHTS; RESEARCH-AND-DEVELOPMENT; PATENT PROTECTION; FLEXIBILITY; FIRM; DETERMINANTS; COMPETITION; INVESTMENT; LAWS; OWNERSHIP;
D O I
10.1016/j.mulfin.2022.100736
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
Employing an international sample from 25 economies, we investigate the relationship between firm-level scale inflexibility and corporate innovation. The baseline result shows that inflexibility is positively associated with innovation activities. In the mechanism analyses, we find that the positive relationship is mainly driven by firms with higher contraction inflexibility and in less stable external environments. The positive relationship is also stronger for firms in industries with higher concentration, and in economies with stronger creditor rights. Finally, we observe a weaker relationship in multinational enterprises. Collectively, our findings suggest that scale inflexibility creates a stable environment for corporate innovation.
引用
收藏
页数:21
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