Does peer influence improve firms’ innovative investment? Evidence from China

Rong Xiao; Chun Ai Ma; Guang Rui Song; Heng Yu Chang

doi:10.1016/j.egyr.2021.12.029

Does peer influence improve firms’ innovative investment? Evidence from China

Rong Xiao^*, Chun Ai Ma, Guang Rui Song, Heng Yu Chang

^*Corresponding author for this work

Department of Digital Financial Technology

China University of Petroleum - Beijing

Research output: Contribution to journal › Journal Article › peer-review

16 Scopus citations

Abstract

Chinese government promotes the synergy of regional innovation and established several innovation reform zones as innovative investment is critical for the development of a firm and economic growth. An important related question we address in this paper is how peers influence firms’ innovative investment using Chinese listed companies from 2013 to 2017. We find that firms’ innovative investment is significantly influenced by their peers, and when the market competitiveness of a firm is weaker, its innovative investment is more greatly affected by its peers. Firms are highly sensitive to their similar peers. The peer effects in innovative zones are stronger than those from outside of the zones. We discuss the policy implications of the findings.

Original language	English
Pages (from-to)	1143-1150
Number of pages	8
Journal	Energy Reports
Volume	8
DOIs	https://doi.org/10.1016/j.egyr.2021.12.029
State	Published - 11 2022

Bibliographical note

Publisher Copyright:
© 2021 The Author(s)

Keywords

Innovative investment
Innovative zones
Market competitiveness
Peer effects

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.egyr.2021.12.029

Cite this

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title = "Does peer influence improve firms{\textquoteright} innovative investment? Evidence from China",

abstract = "Chinese government promotes the synergy of regional innovation and established several innovation reform zones as innovative investment is critical for the development of a firm and economic growth. An important related question we address in this paper is how peers influence firms{\textquoteright} innovative investment using Chinese listed companies from 2013 to 2017. We find that firms{\textquoteright} innovative investment is significantly influenced by their peers, and when the market competitiveness of a firm is weaker, its innovative investment is more greatly affected by its peers. Firms are highly sensitive to their similar peers. The peer effects in innovative zones are stronger than those from outside of the zones. We discuss the policy implications of the findings.",

keywords = "Innovative investment, Innovative zones, Market competitiveness, Peer effects",

author = "Rong Xiao and Ma, {Chun Ai} and Song, {Guang Rui} and Chang, {Heng Yu}",

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doi = "10.1016/j.egyr.2021.12.029",

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AU - Xiao, Rong

AU - Ma, Chun Ai

AU - Song, Guang Rui

AU - Chang, Heng Yu

PY - 2022/11

Y1 - 2022/11

N2 - Chinese government promotes the synergy of regional innovation and established several innovation reform zones as innovative investment is critical for the development of a firm and economic growth. An important related question we address in this paper is how peers influence firms’ innovative investment using Chinese listed companies from 2013 to 2017. We find that firms’ innovative investment is significantly influenced by their peers, and when the market competitiveness of a firm is weaker, its innovative investment is more greatly affected by its peers. Firms are highly sensitive to their similar peers. The peer effects in innovative zones are stronger than those from outside of the zones. We discuss the policy implications of the findings.

AB - Chinese government promotes the synergy of regional innovation and established several innovation reform zones as innovative investment is critical for the development of a firm and economic growth. An important related question we address in this paper is how peers influence firms’ innovative investment using Chinese listed companies from 2013 to 2017. We find that firms’ innovative investment is significantly influenced by their peers, and when the market competitiveness of a firm is weaker, its innovative investment is more greatly affected by its peers. Firms are highly sensitive to their similar peers. The peer effects in innovative zones are stronger than those from outside of the zones. We discuss the policy implications of the findings.

KW - Innovative investment

KW - Innovative zones

KW - Market competitiveness

KW - Peer effects

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DO - 10.1016/j.egyr.2021.12.029

M3 - 文章

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SN - 2352-4847

VL - 8

SP - 1143

EP - 1150

JO - Energy Reports

JF - Energy Reports

ER -

Does peer influence improve firms’ innovative investment? Evidence from China

Abstract

Bibliographical note

Keywords

UN SDGs

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