Property rights protection and corporate R&D : evidence from China
Document Type
Journal article
Source Publication
Journal of Development Economics
Publication Date
9-1-2010
Volume
93
Issue
1
First Page
49
Last Page
62
Publisher
Elsevier BV
Keywords
Property rights protection, Government grabbing hand, Corporate R&D
Abstract
Following the recent literature on institutions and economic growth, we examine the effects of property rights protection on corporate R&D. Using a unique 2003 World Bank survey of over 2400 firms in 18 Chinese cities, we obtain the following findings: (1) property rights protection is positively and significantly related to corporate R&D activity (for both process and product R&D); (2) government services and helping hand are conducive to corporate R&D, while informal payments to government officials are not; and (3) government ownership of firms and direct appointment of CEOs are negatively associated with corporate R&D activities. We also find that corporate R&D is positively related to firm size, and access to finance, but negatively related to product market competition and firm age
DOI
10.1016/j.jdeveco.2009.04.006
Print ISSN
03043878
E-ISSN
18726089
Publisher Statement
Copyright © 2009 Elsevier B.V.
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Lin, C., Lin, P., & Song, F. (2010). Property rights protection and corporate R&D: Evidence from China. Journal of Development Economics, 93(1), 49-62. doi: 10.1016/j.jdeveco.2009.04.006