HOW FUNDING STRUCTURE AFFECTS EFFICIENCY OF R&D INVESTMENT BY LARGE- AND MEDIUM-SIZED INDUSTRIAL FIRMS IN CHINA? EVIDENCE FROM PROVINCE-LEVEL PANEL DATA
© 2017 World Scientific Publishing Company This study explores the efficiencies of firm’s R & D investment depending on the degree of reliance on government funding relative to firms’ private funding. Stochastic frontier analysis is applied on a sample of 30 provinces with data on R & D inpu...
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| Format: | Journal Article |
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World Scientific Publishing
2017
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| Online Access: | http://hdl.handle.net/20.500.11937/63219 |
| Summary: | © 2017 World Scientific Publishing Company This study explores the efficiencies of firm’s R & D investment depending on the degree of reliance on government funding relative to firms’ private funding. Stochastic frontier analysis is applied on a sample of 30 provinces with data on R & D inputs and innovation outputs by all large- and medium-sized industrial firms in these provinces from 2000 to 2013. It is found that R & D investment financed by firms’ private funding is more efficient than that by government funding in generating new products, whereas R & D investment financed by government funding is more efficient than that by firms’ private funding in producing new patents. |
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