How funding structure affects efficiency of R&D investment by large- and medium-sized industrial firms in China? Evidence from province-level panel data

Yixiao Zhou, Runyang Zhang, Ligang Song

    Research output: Contribution to journalArticle

    Abstract

    This study explores the efficiencies of firm's R&D investment depending on the degree of reliance on government funding relative to firms' private funding. Stochastic frontier analysis is applied on a sample of 30 provinces with data on R&D inputs and innovation outputs by all large-and medium-sized industrial firms in these provinces from 2000 to 2013. It is found that R&D investment financed by firms' private funding is more efficient than that by government funding in generating new products, whereas R&D investment financed by government funding is more efficient than that by firms' private funding in producing new patents.
    Original languageEnglish
    JournalSingapore Economic Review
    Volume64
    Issue number4
    DOIs
    Publication statusPublished - 2018

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