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Title: The Effects of Environmental Regulation and Financial Constraints on Corporate R&D Investment in China
Authors: Li, Hang
He, Feng
Shao, Yanmin
Chen, Lili
Keywords: Environmental Regulations;Financial Constraints;R&D Investment;Mediating Effect
Issue Date: Aug-2018
Publisher: NISCAIR-CSIR, India
Abstract: Based on a panel dataset of non-financial listed firms during 2007–2014 in China, we examine both independent and combined effects of environmental regulations and financial constraints on corporate R&D investment. In addition, we uncover the underlying mechanism of how both indicators affect R&D investment through three financing sources. The results show that: (1) Environmental regulations can significantly promote R&D investment, while financial constraints have the opposite effects. (2) Among the three financing sources, environmental regulations promote R&D investment only by internal financing, while financial constraints inhibit R&D investment by all three financing sources.
Page(s): 442-446
ISSN: 0975-1084 (Online); 0022-4456 (Print)
Appears in Collections:JSIR Vol.77(08) [August 2018]

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