{"title":"美国出口管制对中国企业创新的影响：来自中国高科技企业的证据","authors":"","doi":"10.1016/j.irfa.2024.103510","DOIUrl":null,"url":null,"abstract":"<div><p>Using a sample of Chinese high-tech firms from 2007 to 2020, this study investigates the impact of U.S. export control regulations (ECRs) on Chinese high-tech firms' innovation. The results reveal that U.S. ECRs force Chinese firms to increase their R&D inputs and outputs. Moreover, the findings illustrate that technology dependence and import competition act as mechanisms to mediate such trade effects. Our cross-sectional analyses indicate that the positive relationship between U.S. ECRs and Chinese firms' innovation strengthens in firms importing more high-tech products, with better innovation accumulation, with fewer financial constraints, or with more financial subsidies. Fundamentally, this study complements the literature on the U.S.-China trade war and offers policy implications for the Chinese government.</p></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":null,"pages":null},"PeriodicalIF":7.5000,"publicationDate":"2024-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The impact of the U.S. export controls on Chinese firms' innovation: Evidence from Chinese high-tech firms\",\"authors\":\"\",\"doi\":\"10.1016/j.irfa.2024.103510\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>Using a sample of Chinese high-tech firms from 2007 to 2020, this study investigates the impact of U.S. export control regulations (ECRs) on Chinese high-tech firms' innovation. The results reveal that U.S. ECRs force Chinese firms to increase their R&D inputs and outputs. Moreover, the findings illustrate that technology dependence and import competition act as mechanisms to mediate such trade effects. Our cross-sectional analyses indicate that the positive relationship between U.S. ECRs and Chinese firms' innovation strengthens in firms importing more high-tech products, with better innovation accumulation, with fewer financial constraints, or with more financial subsidies. Fundamentally, this study complements the literature on the U.S.-China trade war and offers policy implications for the Chinese government.</p></div>\",\"PeriodicalId\":48226,\"journal\":{\"name\":\"International Review of Financial Analysis\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":7.5000,\"publicationDate\":\"2024-07-27\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Review of Financial Analysis\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1057521924004423\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521924004423","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
The impact of the U.S. export controls on Chinese firms' innovation: Evidence from Chinese high-tech firms
Using a sample of Chinese high-tech firms from 2007 to 2020, this study investigates the impact of U.S. export control regulations (ECRs) on Chinese high-tech firms' innovation. The results reveal that U.S. ECRs force Chinese firms to increase their R&D inputs and outputs. Moreover, the findings illustrate that technology dependence and import competition act as mechanisms to mediate such trade effects. Our cross-sectional analyses indicate that the positive relationship between U.S. ECRs and Chinese firms' innovation strengthens in firms importing more high-tech products, with better innovation accumulation, with fewer financial constraints, or with more financial subsidies. Fundamentally, this study complements the literature on the U.S.-China trade war and offers policy implications for the Chinese government.
期刊介绍：
The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.
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