کد مقاله کد نشریه سال انتشار مقاله انگلیسی ترجمه فارسی نسخه تمام متن
5036917 1472384 2017 7 صفحه PDF سفارش دهید دانلود کنید
عنوان انگلیسی مقاله ISI
The signal effect of Government R&D Subsidies in China: Does ownership matter?
ترجمه فارسی عنوان
تأثیر سیگنال یارانه های تحقیق و توسعه دولتی در چین: آیا مالکیت مهم است؟
کلمات کلیدی
یارانه های تحقیق و توسعه؛ مالکیت؛ سرمایه گذاری تحقیق و توسعه؛ اثر سیگنال؛ اثر صدور گواهینامه
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی


- The impact of different ownership nature to the signal/certification effect is tested.
- Empirical evidence is based on Chinese listed corporations from 2009 to 2013.
- SOEs can receive more subsidies than private enterprises in China.
- The signal effect of R&D grants is stronger in private enterprises than that in SOEs.
- The ownership nature does matter in the R&D subsidies certification effect.

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.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Technological Forecasting and Social Change - Volume 117, April 2017, Pages 339-345
نویسندگان
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