Title: Credit Constraints,Exports and Firms' Innovation Decision:Evidence from Chinese Local Firms
Abstract: This paper empirically examines the impact of credit constraints,export and other factors on innovation decisions of Chinese local firms and gives comparison analysis between state owned firms and private firms.The results show that credit constraints and export have significant positive impacts on firms' innovation decisions as follows:(1) firms which can easily get external funds tend to be innovative;(2) export participation increases firms'innovation propensity significantly;(3) among exporters,external finance has insignificant impact on state-owned firms but significant positive impact on private ones.Thus the government should encourage firms go international and improve financial environment and innovation ability for private firms to speed up the pace of firms' transformation and upgrading.
Publication Year: 2012
Publication Date: 2012-01-01
Language: en
Type: article
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