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The Impact of China’s Stock Market Openness on Firm Innovation

In: Economic Management and Big Data Application Proceedings of the 3rd International Conference

Author

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  • Mwanaidi Mgalla
  • Hefa Gui

Abstract

This study investigates the impact of China’s stock market openness on corporate firm innovation. China launched Shenzhen-Hongkong and Shanghai-Hongkong Stock Connect programs to allow international investors to trade with domestic stocks. The empirical regression results demonstrate that the firms traded with foreign investors highly benefited from quality patents. In addition, the corporate firms profited from the influence of foreign investors on the firm’s innovation based on gaining financial capital, reducing information asymmetry, and efficient stock market price. Thus, our study provides robustness analysis to clarify the positive relationship between stock market openness on firm innovation.

Suggested Citation

  • Mwanaidi Mgalla & Hefa Gui, 2024. "The Impact of China’s Stock Market Openness on Firm Innovation," World Scientific Book Chapters, in: Sikandar Ali Qalati (ed.), Economic Management and Big Data Application Proceedings of the 3rd International Conference, chapter 104, pages 1143-1157, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811270277_0104
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    More about this item

    Keywords

    Big Data; Information Management; Economic; Data Applications; Blockchain; E-commerce;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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