{"title":"Targeting more effective industrial policies: Evidence from massive media data on R&D manipulation","authors":"Guochao Yang , Lina Zhang","doi":"10.1016/j.ceqi.2022.05.002","DOIUrl":null,"url":null,"abstract":"<div><p>R&D manipulation prevails in firms' application for high-tech enterprise certification. This paper provides evidence on how media coverage significantly inhibits firms' R&D manipulation behaviour by increasing citizens' concerns. Among all the media reports, original reports and in-depth reports serve the strongest purpose in alleviating R&D manipulation. Among all types of media, online media and authoritative media play a stronger role. We also find a more pronounced supervision role of media for enterprises that are owned by private entities, covered by more analysts, administrated by more capable governments or located in regions with a higher marketization level. We also provide evidence on the enhancement of firms’ R&D performance due to media coverage.</p></div>","PeriodicalId":100238,"journal":{"name":"China Economic Quarterly International","volume":"2 2","pages":"Pages 138-150"},"PeriodicalIF":1.9000,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2666933122000181/pdfft?md5=376ec0cb6e45817301231a98ac791188&pid=1-s2.0-S2666933122000181-main.pdf","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"China Economic Quarterly International","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2666933122000181","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 1
Abstract
R&D manipulation prevails in firms' application for high-tech enterprise certification. This paper provides evidence on how media coverage significantly inhibits firms' R&D manipulation behaviour by increasing citizens' concerns. Among all the media reports, original reports and in-depth reports serve the strongest purpose in alleviating R&D manipulation. Among all types of media, online media and authoritative media play a stronger role. We also find a more pronounced supervision role of media for enterprises that are owned by private entities, covered by more analysts, administrated by more capable governments or located in regions with a higher marketization level. We also provide evidence on the enhancement of firms’ R&D performance due to media coverage.
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