Do government R&D subsidies stimulate corporate R&D investment? : evidence from a quasi-natural experiment

Bibliographic Details
Statement of responsibility:	Ying Wu, Yi Zhang and Lihui Tian
Published in:	Applied economics letters. - New York, NY : Routledge, 1994. - 30(2023), 3, Seite 280-284
Main Author:	Wu, Ying (Author)
Other Authors:	Zhang, Yi (Author) Tian, Lihui (Author)
Format:	electronic Article
Language:	English
Published:	2023
ISSN:	1466-4291
External Sources:	lizenzpflichtig lizenzpflichtig lizenzpflichtig


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982			\|2 26 \|1 00 \|x DE-206 \|b This paper examines the impact of Guangdong provincial R&D subsidies policy on corporate R&D investment.11 Guangdong has ranked first in terms of GDP in all Chinese provinces for many years. There are 643 Chinese A-share stock market listed firms in Guangdong in 2019. Using a large sample of Chinese firms for the 2011–2017 period and DID methodology, we find that government R&D subsidies have a negative and significant effect on corporate R&D investment. Our findings are robust to a battery of sensitivity tests. Our study supports the ‘crowd out effect’ of government R&D subsidies.