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Uncertainty and corporate R&D investment: Evidence from Chinese listed firms

Listed author(s):
  • Wang, Yizhong
  • Wei, Yueling
  • Song, Frank M.
Registered author(s):

    Using data from Chinese listed firms, this paper studies the effects of policy and market uncertainties on corporate R&D investment. The empirical findings indicate that both policy and market uncertainties can negatively affect corporate R&D investment. Policy uncertainty poses a significant impact on R&D investment for politically connected firms, but has no impact on firms without political connections. Market uncertainty only has a clear impact on non-politically connected firms. The negative influence of uncertainty is more obvious for firms receiving fewer government subsidies.

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    File URL: http://www.sciencedirect.com/science/article/pii/S105905601630199X
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    Article provided by Elsevier in its journal International Review of Economics & Finance.

    Volume (Year): 47 (2017)
    Issue (Month): C ()
    Pages: 176-200

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    Handle: RePEc:eee:reveco:v:47:y:2017:i:c:p:176-200
    DOI: 10.1016/j.iref.2016.10.004
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620165

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