经济政策不确定性、机构投资者持股与高技术企业研发投资:来自中国的证据

Proceedings of the 2021 International Conference on Enterprise Management and Economic Development (ICEMED 2021) Pub Date : 2021-06-02 DOI:10.2991/AEBMR.K.210601.060

Yuxin Zhou

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引用次数: 0

摘要

本文研究了经济政策的不确定性对我国高新技术企业研发投资的影响。同时，考察了机构投资者持股的调节作用。研究结果表明，高新技术企业研发投入比例与当年的EPU水平正相关。此外，机构投资者持股比例的提高强化了这一积极效应。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Economic Policy Uncertainty, Shareholding of Institutional Investors and R&D Investment of High Technology Enterprises: Evidence from China

This paper studies how economic policy uncertainty affect the R&D investment of Chinese high technology enterprises. Meanwhile, it examines the moderating effect of shareholding of institutional investors. Our results show that the proportion of high technology enterprises’ R&D investment is positively correlated with the EPU level of that year. Furthermore, higher shareholding of institutional investors reinforced this positive effect.

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Proceedings of the 2021 International Conference on Enterprise Management and Economic Development (ICEMED 2021)

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