Economics

The impact of housing macroprudential policy on firm innovation: empirical evidence from China

M. Chen, H. Zhu, et al.

This insightful study by Mengtao Chen, Haojie Zhu, Yongming Sun, and Ruoxi Jin explores how stricter housing macroprudential policies can actually boost firm innovation by reducing leverage and increasing cash reserves. The findings reveal that this effect is particularly strong in regions with less reliance on housing. Discover how policy can drive innovation!

00:00

Playback language: English

Index

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

Related Publications

Explore these studies to deepen your understanding of the subject.

Business

Impact of China's Free Trade Zones on the Innovation Performance of Firms: Evidence from a Quasi-Natural Experiment

X. Su and S. Wang

Agriculture

Impact of demonstration zone policy on agricultural science and technology innovation: evidence from China

N. Wang and D. Cui

Transportation

Investigating the impact of spatial dependence and heterogeneity on airport relationships: Empirical evidence from China

Z. Wu, P. Lai, et al.

Business

The impact of tax cuts on enterprise innovation in China: evidence from listed manufacturing firms

A. 1. Name, A. 2. Name, et al.

Listen, Learn & Level Up

Over 10,000 hours of research content in 25+ fields, available in 12+ languages.

No more digging through PDFs, just hit play and absorb the world's latest research in your language, on your time.

listen to research audio papers with researchbunny