Nationalism and corporate innovation performance

Fang Liu, Zhaomei Zhang, Junjie Zhang and Fenghang Guo

International Review of Economics & Finance, 2025, vol. 102, issue C

Abstract: In the landscape of rapid globalization and technological advancement, firms face increasingly fierce competition in innovation. Nationalism, as a unique informal institutional force, is increasingly influencing firms' innovation strategies and performance. Therefore, this paper uses the Panel data of Chinese A-share listed companies between 2011 and 2023 to verify the influence of nationalism on corporate innovation performance by combining theoretical and methodical approaches. The outcome of the study is that nationalism positively promotes corporate innovation performance, and this conclusion remains valid after a series of robustness tests. A mechanistic analysis shows that nationalism promotes corporate innovation performance through increased government subsidies, enhanced corporate reputation, and improved managerial efficiency. Heterogeneity analysis shows that for non-state-owned firms and firms located in regions that have implemented the policy of “promoting the integration of technology and finance”, the promoting effect of nationalism on firm innovation performance is more significant. Further analysis shows that nationalism also enhances the innovation performance of key core technologies. This work has not only expanded the theoretical boundaries of corporate innovation research, but also provided the practical experience and theoretical support for Chinese enterprises to enhance their innovation capabilities and achieve sustainable development in the new era.

Keywords: Nationalism; Innovation performance; Government subsidies; Corporate reputation; Management efficiency (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1059056025004484
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:reveco:v:102:y:2025:i:c:s1059056025004484

DOI: 10.1016/j.iref.2025.104285

Access Statistics for this article

International Review of Economics & Finance is currently edited by H. Beladi and C. Chen

More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().