R&amp;D investment, financing constraints and green-tech content of Chinese exports

Science Research Management ›› 2015, Vol. 36 ›› Issue (8) : 28-35.

R&D investment, financing constraints and green-tech content of Chinese exports

Li Changqing, Lv Xiaofeng, Wu Gang

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Abstract

Based on the perspective "heterogeneous enterprise", this paperanalyzes the mechanism among R&D investment, financing constraints and green-tech content by modifying the neoclassical investment model, builds up a green-tech content index in the enterprise level, and use more than 80,000 export enterprise data to test the mechanism. The main conclusions are as follows: firstly, the R&D investment has a significant positive impact on the green-tech content of Chinese exports, the R&D effect of private holding companies is significantly better than state-holding companies, and the R&D effect of non-pollution-intensive companies is significantly better than pollution-intensive companies;and secondly, financing constraints has a moderating effect between R&D and green-tech content at the overall level, and this finding also exists in private holding companies and non-pollution-intensive companies, but there is no such moderating effect in state-holding companies and pollution-intensive companies.

Key words

R & / D / financing constraints / export green-tech content

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Li Changqing, Lv Xiaofeng, Wu Gang. R&D investment, financing constraints and green-tech content of Chinese exports[J]. Science Research Management. 2015, 36(8): 28-35

References

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