Innovation-Driven Policies, Corporate Governance Structure and Total Factor Productivity in Chinese Sports Sector: Evidence from Listed Sports Firms

Ziyu Guo, Gang Chen () and Yang Ding
Additional contact information
Ziyu Guo: Research Center for Sports Strategy and Policy, Wuhan Sports University, Wuhan 430070, China
Gang Chen: Research Center for Sports Strategy and Policy, Wuhan Sports University, Wuhan 430070, China
Yang Ding: Research Center for Sports Strategy and Policy, Wuhan Sports University, Wuhan 430070, China

Sustainability, 2023, vol. 15, issue 8, 1-16

Abstract: The sports industry, an emerging industry with low pollution and low emissions, plays an important role in the sustainable development of human society. Using 489 observations from a panel of 128 sports firms listed on the New Third Board in China from 2015 to 2020, this study investigated the effects of three different innovation-driven policies on the total factor productivity of sports firms and the moderating role of governance structure on this relationship. The results showed that high-tech enterprise tax relief was an important policy tool to promote the total factor productivity of sports enterprises, but the direct effects of government subsidies and pre-tax deduction of R&D expenses were not significant. In addition, governance structure had a positive moderating effect on the relationship between innovation-driven policies and the total factor productivity of sports firms. The positive effect of the pre-tax deduction of R&D expenses policy was more significant for sports firms with larger and more independent boards of directors. This study provides new insight into innovation policy development for the sports industry by showing that corporate governance has a significant impact on the effectiveness of innovation-driven policies. Furthermore, the findings provide practical guidance for both managers and government–industry policymakers in the sports industry.

Keywords: total factor productivity; innovation-driven policy; governance structure; high-tech sports companies; policy effectiveness (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/8/6991/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/8/6991/ (text/html)

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:gam:jsusta:v:15:y:2023:i:8:p:6991-:d:1129224

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().