外国资金支持与企业研发投资:新的面板数据证据

IF 1.6 Q3 BUSINESS Transnational Corporations Review Pub Date : 2023-12-01 DOI:10.1016/j.tncr.2023.07.001
Umar Farooq
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引用次数: 0

摘要

本研究旨在探讨外国金融支持与企业研发投资之间的经验关系。统计分析基于非金融部门企业 14 年(2006-2019 年)的财务数据。我们采用 GLS(广义最小二乘法)和两步系统 GMM(广义矩法)建立变量间的回归关系。实证研究结果表明,外国直接投资流入、官方援助和汇款与企业的研发活动存在正向统计关系,而对外贸易与企业的研发活动存在反向关系。外国资金支持增加了政府的财政储备,从而可以为研发活动提供更多补贴。反之,对外贸易则会诱发不利竞争,进一步阻碍企业管理者的创新行为,从而减少研发活动。实证分析表明,政府官员应更加重视加强外国资金支持,以加快本国的发展文化。
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Foreign financial support and corporate R&D investments: New panel data evidence

This study aims to explore empirical relationship between foreign financial support and corporate research and development investments. The statistical analysis is based upon 14 years (2006–2019) financial data of non-financial sector enterprises. We use GLS (generalized least square) and 2-step system GMM (generalized method of moments) to establish the regression among variables. The empirical findings show that FDI inflow, official aid, and remittances have a positive and statistically significant relationship while foreign trade has an inverse relationship with corporate-level R&D activities. Foreign financial support enhances the financial reserves of the government and allows to disburse of more subsidies for R&D activities. Conversely, foreign trade can reduce R&D activities by inducing unfavorable competition which further hampers innovative behavior of corporate managers. The empirical analysis suggests that government officials should do more focus on enhancing foreign financial support to accelerate the development culture in the country.

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来源期刊
CiteScore
5.20
自引率
5.70%
发文量
37
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