Does the Stock Market Boost Firm Innovation?

Evidence from Chinese Firms

Does the Stock Market Boost Firm Innovation?
The paper analyses the effect of the stock market on firm innovation through the lens of initial public offering (IPO) using uniquely matched Chinese firm-level data. We find that IPOs lead to an increase in both the quantity and quality of firm innovation activity. In addition, IPOs expand a firm’s scope of innovation beyond its core business.... READ MORE...

Publication date: June 2017
ISBN 9781484303726
$18.00

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