Financing constraints for R&D in China: the role of state ownership |
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| Authors: | Jun Wu |
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| Institution: | Antai College of Economics and Management, Shanghai Jiao Tong University, Shanghai, P. R. China |
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| Abstract: | We investigate financing constraints for R&D in China. We find that Chinese private firms are financially constrained for R&D, while state-owned enterprises are not. Mature private firms encounter more severe financing constraints for R&D than young private firms. Moreover, the expansion of external financing supply does not relax the financing constraints for R&D faced by private firms. |
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| Keywords: | Research and development financial constraints state ownership Chinese firms |
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