SHS Web Conf.
Volume 163, 20232023 8th International Conference on Social Sciences and Economic Development (ICSSED 2023)
|Number of page(s)||4|
|Section||Corporate Decision Making and Brand Operations Sales|
|Published online||28 April 2023|
Implicit Government Guarantees and Continuous Innovation in Manufacturing Firms: Incentives or Disincentives? --Micro evidence from A-share listed companies
Xiangtan University Business School, Xiangtan, HuNan, China
* Corresponding author: firstname.lastname@example.org
This paper explores the impact of implicit government guarantees on the continuous innovation of manufacturing enterprises using A-share listed companies from 2008 to 2017 as the research sample. It is found that the higher the implicit government guarantee is, the more it inhibits the continuous innovation of enterprises, and the mechanism of excessive indebtedness, inefficient investment, rent-seeking cost, and zombie enterprises is further found.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0 (https://creativecommons.org/licenses/by/4.0/).
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