Organization Capital and Corporate Innovation: Evidence from China

Huijie Cui, Lixuan Dai and Yanan Zhang

Finance Research Letters, 2021, vol. 43, issue C

Abstract: In this paper, we examine the impact of organization capital on corporate innovation activities by using a large sample of Chinese data during the period of 2005-2015. The main findings suggest that organization capital is one important determinant of corporate innovation output. Additional cross-sectional tests show that both political connection and industrial concentration will moderate the positive effect of organization capital on corporate innovation. We further identify that ensuring sufficient funding support and accelerating internationalization are two possible channels by which organization capital contributes to positive innovation output. Robustness tests help rule out possible endogenous concerns.

Keywords: Organization capital; Corporate innovation; Political connection; Industrial competition (search for similar items in EconPapers)
JEL-codes: L20 O32 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612321000374
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:43:y:2021:i:c:s1544612321000374

DOI: 10.1016/j.frl.2021.101956

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().