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The Impact of Interfirm Cooperative R&D on Firm Performance: Evidence from Chinese Publicly Listed Companies.

Authors :
Lo, Kai Lisa
Liu, Huizhu
Xia, Fei
Mi, Jackson Jinhong
Source :
Emerging Markets Finance & Trade; 2023, Vol. 59 Issue 2, p391-403, 13p, 7 Charts, 1 Graph
Publication Year :
2023

Abstract

With the development of the economy, collaborative R&D has become an important tool for Chinese companies to improve their performance. This paper explores the relationship between inter-firm collaborative R&D and firm performance in terms of both financial performance and technological innovation performance. Using panel data of more than 1,300 Chinese listed companies from 2007 to 2016 and using multiple regression analysis, we find that inter-firm collaborative R&D has a positive impact on technological innovation performance and potential market competitiveness, but a negative impact on profitability indicators. In addition, we further divided the companies into technology "leaders" and "followers," and the results showed that the benefits of collaborative R&D are greater for the followers. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
1540496X
Volume :
59
Issue :
2
Database :
Complementary Index
Journal :
Emerging Markets Finance & Trade
Publication Type :
Academic Journal
Accession number :
161394586
Full Text :
https://doi.org/10.1080/1540496X.2022.2103402