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Government R&D subsidies, bank credit and the innovation efficiency of high-tech enterprises

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  • Jiang, Xiuping
  • Jiang, Chunxia

Abstract

This study focuses on Chinese high-tech listed enterprises spanning from 2010 to 2022, aiming to explore the primary impact of government R&D subsidies on their innovation efficiency. Our findings indicate that these subsidies effectively enhance the innovation efficiency of high-tech enterprises. Furthermore, bank credit serves as a positive intermediary between government subsidies and improved innovation. Notably, R&D subsidies tend to have a greater impact on enhancing innovation efficiency in private enterprises compared to state-owned enterprises.

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  • Jiang, Xiuping & Jiang, Chunxia, 2024. "Government R&D subsidies, bank credit and the innovation efficiency of high-tech enterprises," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    • Handle: RePEc:eee:reveco:v:96:y:2024:i:pa:s1059056024005574
    DOI: 10.1016/j.iref.2024.103565
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    References listed on IDEAS

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    1. Wang, Yong & Wang, Chao, 2025. "Climate risk and firms’ R&D investment: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 99(C).

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