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| The Signal Effect of Government R&D Subsidies in China: Do Ownership Matter? Technological Forecasting & Social Change£¨SSCIÔ´¿¯£©, 2017,117(4):339-345. |
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loveone: ½ð±Ò+10, ¡ï¡ï¡ï¡ï¡ï×î¼Ñ´ð°¸ 2017-06-26 15:01:32
Ðľ²_ÒÀÈ»: LS-EPI+1, ¸ÐлӦÖú 2017-06-26 17:22:14
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loveone: ½ð±Ò+10, ¡ï¡ï¡ï¡ï¡ï×î¼Ñ´ð°¸ 2017-06-26 15:01:32
Ðľ²_ÒÀÈ»: LS-EPI+1, ¸ÐлӦÖú 2017-06-26 17:22:14
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The signal effect of Government R&D Subsidies in China: Does ownership matter? ×÷Õß:Aihua Wu Technological Forecasting and Social Change ¾í: 117 Ò³: 339-45 DOI: 10.1016/j.techfore.2016.08.033 ³ö°æÄê: April 2017 ÕªÒª R&D subsidies as a policy instrument are used to reduce market failure, apart from its input and output additionality, the notion of behavioural additionality has caused increasingly interest. We focus on the signal/certification effect of behavioural additionality, which means that government grants may serve as a signal for private investors. The signal effect is a certification enhancing a firm's access to external finance. The objective is to examine the impact of different ownership nature to the signal/certification effect. We use data on Chinese listed corporations from 2009 to 2013. The results show that receiving R&D subsidies increases the likelihood that firms will raise external finance, and the state-owned enterprises can receive more subsidies than private enterprises. However, the signal effect of R&D grants is stronger in private enterprises than that in state-owned enterprises of China, indicating that the ownership nature does matter in the R&D subsidies certification effect. This paper enriches current literature of government R&D subsidies by providing empirical evidences in Chinese mixed market. [All rights reserved Elsevier]. ×÷ÕßÐÅÏ¢ ×÷ÕßµØÖ·: Aihua Wu; Sch. of Bus., Ludong Univ., Yantai, China. ³ö°æÉÌ Elsevier B.V., Netherlands Àà±ð / ·ÖÀà Ñо¿·½Ïò:Engineering; Business & Economics; Computer Science; Social Issues (ÓÉ Clarivate Analytics Ìṩ) ·ÖÀà´úÂë:E1030 Research and development; E0110 Organisational aspects; E0120K Financial management; E0220 Economics; E0260 Social and political issues CODEN:TFSCB3 ÊÜ¿ØË÷Òý:certification; financial management; government policies; organisational aspects; public finance; research and development ·ÇÊÜ¿ØË÷Òý wnership; government R and D subsidies; signal-certification effect; China; private enterprises; state-owned enterprises; external finance; government grants; behavioural additionalityÎÄÏ×ÐÅÏ¢ ÎÄÏ×ÀàÐÍ:Journal Paper ÓïÖÖ:English Èë²ØºÅ:INSPEC:16895709 ISSN:0040-1625 ²Î¿¼ÎÄÏ×Êý:51 ÆÚ¿¯ÐÅÏ¢ Impact Factor (Ó°ÏìÒò×Ó): Journal Citation Reports ÆäËûÐÅÏ¢ ´¦ÀíÀàÐÍ:Economic, Practical ÎÄÏ׺Å:S0040-1625(16)30667-9 |

2Â¥2017-06-26 14:58:47













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wnership; government R and D subsidies; signal-certification effect; China; private enterprises; state-owned enterprises; external finance; government grants; behavioural additionality
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