The impact of housing macroprudential policy on firm innovation: | ResearchBunny

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Abstract

This study examines the relationship between housing macroprudential policy (HMP) and firm innovation using panel data from Chinese firms (2010-2019). Results show that tightened HMP promotes firm innovation by reducing leverage and encouraging cash holdings. The positive effect is more pronounced in areas with lower housing dependency and limited financial development.

Publisher

Humanities & Social Sciences Communications

Published On

Aug 10, 2023

Authors

Mengtao Chen, Haojie Zhu, Yongming Sun, Ruoxi Jin

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