The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China

R&D subsidized loans (tiexi daikuan) is an effective market-driven solution to promote firms’ R&D outputs, including patent applications and new product sales, in China. However, empirical examination on the effects of subsidized loans is insufficient. Using a panel data of manufacturing fir...

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Autores principales:	Yuchen Gao, Si Zhang, Yimei Hu
Formato:	article
Lenguaje:	EN
Publicado:	Vilnius Gediminas Technical University 2021
Materias:	r&d subsidy subsidized loans r&d outputs china innovation policy exploratory patents Business HF5001-6182
Acceso en línea:	https://doaj.org/article/c250e528a8aa46f0b644f25e71c74681
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id	oai:doaj.org-article:c250e528a8aa46f0b644f25e71c74681
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spelling	oai:doaj.org-article:c250e528a8aa46f0b644f25e71c746812021-11-23T14:08:01ZThe effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China1611-16992029-443310.3846/jbem.2021.14581https://doaj.org/article/c250e528a8aa46f0b644f25e71c746812021-11-01T00:00:00Zhttps://journals.vgtu.lt/index.php/JBEM/article/view/14581https://doaj.org/toc/1611-1699https://doaj.org/toc/2029-4433R&D subsidized loans (tiexi daikuan) is an effective market-driven solution to promote firms’ R&D outputs, including patent applications and new product sales, in China. However, empirical examination on the effects of subsidized loans is insufficient. Using a panel data of manufacturing firms of Jiangsu Province from 2010 to 2014, the study investigates the effects of R&D subsidized loans on firms’ R&D outputs in comparison to that of the direct R&D grants. The results show that R&D subsidized loan recipients significantly outperform those who only receive direct grants in terms of new product sales. Meanwhile, subsidized loans inhibit the recipients’ exploratory patent applications and discourage R&D activities with higher risks. This study contributes to R&D subsidy literature and extends the knowledge in the roles of different types of public sponsorships on firms’ innovation.Yuchen GaoSi ZhangYimei HuVilnius Gediminas Technical Universityarticler&d subsidysubsidized loansr&d outputschinainnovation policyexploratory patentsBusinessHF5001-6182ENJournal of Business Economics and Management, Vol 22, Iss 6, Pp 1655-1678 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	r&d subsidy subsidized loans r&d outputs china innovation policy exploratory patents Business HF5001-6182
spellingShingle	r&d subsidy subsidized loans r&d outputs china innovation policy exploratory patents Business HF5001-6182 Yuchen Gao Si Zhang Yimei Hu The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
description	R&D subsidized loans (tiexi daikuan) is an effective market-driven solution to promote firms’ R&D outputs, including patent applications and new product sales, in China. However, empirical examination on the effects of subsidized loans is insufficient. Using a panel data of manufacturing firms of Jiangsu Province from 2010 to 2014, the study investigates the effects of R&D subsidized loans on firms’ R&D outputs in comparison to that of the direct R&D grants. The results show that R&D subsidized loan recipients significantly outperform those who only receive direct grants in terms of new product sales. Meanwhile, subsidized loans inhibit the recipients’ exploratory patent applications and discourage R&D activities with higher risks. This study contributes to R&D subsidy literature and extends the knowledge in the roles of different types of public sponsorships on firms’ innovation.
format	article
author	Yuchen Gao Si Zhang Yimei Hu
author_facet	Yuchen Gao Si Zhang Yimei Hu
author_sort	Yuchen Gao
title	The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
title_short	The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
title_full	The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
title_fullStr	The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
title_full_unstemmed	The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China
title_sort	effects of public r&d subsidized loans on firms’ r&d outputs: evidence from china
publisher	Vilnius Gediminas Technical University
publishDate	2021
url	https://doaj.org/article/c250e528a8aa46f0b644f25e71c74681
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The effects of public R&D subsidized loans on firms’ R&D outputs: evidence from China

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