Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises

This study tests how different types of government funding affect the recovery of zombie enterprises in the manufacturing sector of China. The results show that funding for production and innovation can revive zombie enterprises in expanding industries, while funding for interest cannot. Furthermore...

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Autores principales:	Yudi Yang, Yong Qi, Shuo Yang
Formato:	article
Lenguaje:	EN
Publicado:	Vilnius Gediminas Technical University 2021
Materias:	government funding zombie enterprises recovery mechanism industry life cycle chinese economy transformation and upgrading Business HF5001-6182
Acceso en línea:	https://doaj.org/article/e2842a5b8ad0428ba00bd58d683a5da4
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id	oai:doaj.org-article:e2842a5b8ad0428ba00bd58d683a5da4
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spelling	oai:doaj.org-article:e2842a5b8ad0428ba00bd58d683a5da42021-11-23T14:08:01ZCan government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises1611-16992029-443310.3846/jbem.2021.15334https://doaj.org/article/e2842a5b8ad0428ba00bd58d683a5da42021-11-01T00:00:00Zhttps://journals.vgtu.lt/index.php/JBEM/article/view/15334https://doaj.org/toc/1611-1699https://doaj.org/toc/2029-4433This study tests how different types of government funding affect the recovery of zombie enterprises in the manufacturing sector of China. The results show that funding for production and innovation can revive zombie enterprises in expanding industries, while funding for interest cannot. Furthermore, funding for production and innovation can share costs, increase investment in selling or innovation, and promote the scaling down of businesses through external governance effects, helping zombie enterprises to recover. Finally, none of the funding types can revive zombie enterprises in contracting industries; these can recover only through access to larger overseas markets.Yudi YangYong QiShuo YangVilnius Gediminas Technical Universityarticlegovernment fundingzombie enterprisesrecovery mechanismindustry life cyclechinese economytransformation and upgradingBusinessHF5001-6182ENJournal of Business Economics and Management, Vol 22, Iss 6, Pp 1633-1654 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	government funding zombie enterprises recovery mechanism industry life cycle chinese economy transformation and upgrading Business HF5001-6182
spellingShingle	government funding zombie enterprises recovery mechanism industry life cycle chinese economy transformation and upgrading Business HF5001-6182 Yudi Yang Yong Qi Shuo Yang Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
description	This study tests how different types of government funding affect the recovery of zombie enterprises in the manufacturing sector of China. The results show that funding for production and innovation can revive zombie enterprises in expanding industries, while funding for interest cannot. Furthermore, funding for production and innovation can share costs, increase investment in selling or innovation, and promote the scaling down of businesses through external governance effects, helping zombie enterprises to recover. Finally, none of the funding types can revive zombie enterprises in contracting industries; these can recover only through access to larger overseas markets.
format	article
author	Yudi Yang Yong Qi Shuo Yang
author_facet	Yudi Yang Yong Qi Shuo Yang
author_sort	Yudi Yang
title	Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
title_short	Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
title_full	Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
title_fullStr	Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
title_full_unstemmed	Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises
title_sort	can government funding revive zombie enterprises? evidence from listed chinese manufacturing enterprises
publisher	Vilnius Gediminas Technical University
publishDate	2021
url	https://doaj.org/article/e2842a5b8ad0428ba00bd58d683a5da4
work_keys_str_mv	AT yudiyang cangovernmentfundingrevivezombieenterprisesevidencefromlistedchinesemanufacturingenterprises AT yongqi cangovernmentfundingrevivezombieenterprisesevidencefromlistedchinesemanufacturingenterprises AT shuoyang cangovernmentfundingrevivezombieenterprisesevidencefromlistedchinesemanufacturingenterprises
_version_	1718416735919407104

Can government funding revive zombie enterprises? Evidence from listed Chinese manufacturing enterprises

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