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How Does COVID-19 Affect Corporate Research and Development? Evidence from China.
- Source :
- Emerging Markets Finance & Trade; 2023, Vol. 59 Issue 9, p3011-3023, 13p, 5 Charts, 2 Graphs
- Publication Year :
- 2023
-
Abstract
- 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. [ABSTRACT FROM AUTHOR]
- Subjects :
- COVID-19
INNOVATIONS in business
FREE enterprise
Subjects
Details
- Language :
- English
- ISSN :
- 1540496X
- Volume :
- 59
- Issue :
- 9
- Database :
- Complementary Index
- Journal :
- Emerging Markets Finance & Trade
- Publication Type :
- Academic Journal
- Accession number :
- 164784403
- Full Text :
- https://doi.org/10.1080/1540496X.2023.2199115