The Influence of Economic Policy Uncertainty on Enterprise Science and Technology Innovation

SHEN Ming-hao; XIE Guan-xia; CHU Peng-fei

Volume 34 Issue 4

May 2021

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SHEN Ming-hao, XIE Guan-xia, CHU Peng-fei. The Influence of Economic Policy Uncertainty on Enterprise Science and Technology Innovation[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(4): 101-112.

Citation:

SHEN Ming-hao, XIE Guan-xia, CHU Peng-fei. The Influence of Economic Policy Uncertainty on Enterprise Science and Technology Innovation[J]. Journal of Guangdong University of Finance & Economics, 2019, 34(4): 101-112.

Citation:

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The Influence of Economic Policy Uncertainty on Enterprise Science and Technology Innovation

1.
Guangdong University of Foreign Studies, Guangzhou 510006
2.
School of Economics and Management, South China Normal University, Guangzhou 510006, China

Received Date: 2019-03-23
Available Online: 2021-05-22
Publish Date: 2019-07-28

Abstract

Abstract

Based on the data of all A-share listed companies in China from 2008 to 2017, the panel fixed effect model is employed to empirically analyze the impact of economic policy uncertainty on S & T innovation in enterprises. The results indicate that in the face of the uncertainty of economic policies, enterprises will enhance their innovation to seek their own development, and economic policy uncertainty will promote the technological innovation of enterprises; in terms of the heterogeneity of the company's own attributes, companies with small financing constraints, strong market power and state-owned attributes have the advantage of capabilities improving their technological innovation, but are less susceptible to future uncertainties, so the role of economic policy uncertainty in promotion is weakened. Considering China's national conditions, enterprises with greater government subsidies are more likely to be directly affected by policy changes, so the economic policy uncertainty is more effective.
- economic policy,
- uncertainty,
- S&T innovation,
- listed companies,
- financing constraints,
- market power

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References(34)

References

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