Property rights protection and corporate R&D: Evidence from China

• 成果类型: Article
• 署名作者: Lin, Chen; Lin, Ping; Song, Frank
• 署名单位: Lingnan University; City University of Hong Kong; Shandong University; University of Hong Kong
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2009.04.006
• 发表日期: 2010
• 页码: 49-62
• 关键词: Property rights protection; Government grabbing hand; Corporate R&D

摘要

Following the recent literature on institutions and economic growth, we examine the effects of property rights protection on corporate R&D. Using a unique 2003 World Bank survey of over 2400 firms in 18 Chinese cities, we obtain the following findings: (1) property rights protection is positively and significantly related to corporate R&D activity (for both process and product R & D); (2) government services and helping hand are conducive to corporate R&D, while informal payments to government officials are not; and (3) government ownership of firms and direct appointment of CEOs are negatively associated with corporate R&D activities. We also find that corporate R&D is positively related to firm size, and access to finance, but negatively related to product market competition and firm age. (C) 2009 Elsevier B.V. All rights reserved.