Financial Openness and Firm Innovation: Evidence from China

被引：3
|
作者：
Lv, Panpan [1 ]
Xiong, Hu [2 ]
机构：
[1] Nanjing Univ, Sch Business, Nanjing, Jiangsu, Peoples R China
[2] Nanjing Univ Finance & Econ, Sch Accounting, 3 Wenyuan Rd, Nanjing 210023, Jiangsu, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2023年 / 59卷 / 04期
关键词：
Financial openness; firm innovation; financial constraints; absorptive capacity; ABSORPTIVE-CAPACITY; MARKETS; GROWTH; LAW;
D O I：
10.1080/1540496X.2022.2119801
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates whether and how financial openness affects firm innovation. Based on the data of Chinese listed companies and provincial panel data from 2007 to 2019, we find that there is a positive relationship between financial openness and firm innovation, and this effect is more pronounced in state-owned enterprises (SOEs) or firms with concentrated-ownership. In addition, we identify that financial openness can promote firm innovation through easing financial constraints and improving absorptive capacity.
引用
收藏
页码：998 / 1011
页数：14
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