Does Factor Market Distortion Inhibit Enterprise Innovation? Empirical Evidence from Chinese Industrial Enterprises

Wang, Meixia; Wang, Yunxia

doi:10.1007/s13132-023-01590-5

Cited by 4 publications

(2 citation statements)

References 65 publications

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“…Rent-seeking theory suggests that to obtain economic benefits, when the cost of rent-seeking is less than the cost of production, enterprises or other subjects influence the government's behaviour through rent-seeking means in order to obtain economic benefits, which leads to the crowding out of productive investment. This effect is more pronounced for innovative activities [58]. Rent-seeking is an unavoidable phenomenon in emerging market countries where monitoring mechanisms are inadequate [59].…”

Section: Hypothesis 3 (H3) Ceteris Paribus Lglfd Reduces Financial Ef...mentioning

confidence: 99%

Drinking Poison to Quench Thirst: Local Government Land Financial Dependence and Urban Innovation Quality

Xu,

Yang,

Yang

et al. 2024

Land

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Many emerging markets rely on land financing, whereby land grants are used to raise funds for the government. In the short term, land financing eases the government’s fiscal deficit and boosts regional economic development. However, the long-term implications of such behaviour have not been adequately discussed. This study focuses on the relationship between local government land finance dependence (LGLFD) and urban innovation quality (UIQ). We find that LGLFD significantly inhibits the improvement of UIQ, and this inhibition occurs through three main channels: changing government spending preferences, reducing financial efficiency, and deteriorating the institutional environment. Our empirical study analyses 3662 samples from 264 Chinese cities from 2003 to 2016, confirming our research hypothesis. Further research finds that there is significant heterogeneity in the effect of LGLFD on UIQ. Based on these conclusions, some policy implications are proposed.

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Section: Hypothesis 3 (H3) Ceteris Paribus Lglfd Reduces Financial Ef...mentioning

confidence: 99%

Drinking Poison to Quench Thirst: Local Government Land Financial Dependence and Urban Innovation Quality

Xu,

Yang,

Yang

et al. 2024

Land

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“…From the perspective of official change, Wang pointed out that the uncertainty caused by the change of local officials would have a significant negative effect on firm innovation. The Knightian uncertainty party believes that EPU promotes enterprise technological innovation [10]. Marcus studied the impact of R&D policies, health and safety policies, and economic regulation policies on innovation and concluded that policy uncertainty and innovation are positively correlated [11].…”

Section: Introductionmentioning

confidence: 99%

Economic Policy Uncertainty and Financial Innovation: Evidence from Commercial Bank in China

Yuan,

Sun

2023

AEMPS

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The empirical results show that the rise of economic policy uncertainty (EPU) makes the level of financial innovation at banks significantly improve; that is, there is an incentive effect of EPU on financial innovation at banks. In addition, the degree of incentive-induced EPU for different types of banks is significantly different. Compared with listed banks, this incentive effect is more significant for non-listed banks; rural commercial banks are the most significant incentive, followed by urban commercial banks, and state-owned banks and joint-stock commercial banks are more robust. This shows that EPU has a selective effect on bank financial innovation. Moreover, the incentive effect of EPU on financial innovation activities is affected by the return on assets and the asset liquidity ratio of commercial banks, which further validates the selective effect of financial policy uncertainty on bank financial innovation.

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Technological anxiety: Analysis of the impact of industrial intelligence on employment in China

Shen,

Zhou

2024

Chinese Journal of Population, Resources and Environment

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Does Factor Market Distortion Inhibit Enterprise Innovation? Empirical Evidence from Chinese Industrial Enterprises

Cited by 4 publications

References 65 publications

Drinking Poison to Quench Thirst: Local Government Land Financial Dependence and Urban Innovation Quality

Drinking Poison to Quench Thirst: Local Government Land Financial Dependence and Urban Innovation Quality

Economic Policy Uncertainty and Financial Innovation: Evidence from Commercial Bank in China

Technological anxiety: Analysis of the impact of industrial intelligence on employment in China

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