Financing constraints for R&D in China: the role of state ownership

Jun Wu

Applied Economics Letters, 2019, vol. 26, issue 14, 1162-1166

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.

Date: 2019
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DOI: 10.1080/13504851.2018.1540839

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