Cross-ownership and Corporate Innovation
DOI:
https://doi.org/10.62051/1pce8327Keywords:
cross-ownership; innovation efficiency; internal control; legal system environment.Abstract
This article takes Chinese A-share listed companies from 2014 to 2022 as the research sample, and uses a multiple regression model to empirically test the relationship between cross-ownership and corporate innovation efficiency. Research has found that: (1) cross-ownership can improve the innovation efficiency of enterprises. (2) when the internal control quality of the enterprise is high and the legal system environment is good, the promoting effect of Cross-ownership on the innovation efficiency of the enterprise is more significant.
Downloads
References
[1] Park J, Sani J, Shroff N, et al. Disclosure incentives when competing firms have common ownership [J]. Journal of Accounting and Economics, 2019, 67 (2): 387 – 415.
[2] Chen Y, Li Q, Ng J, et al. corporate financing of investment opportunities in a world of institutional cross-ownership [J]. Journal of Corporate Finance, 2021, 69: 102041.
[3] Hirshleifer D, Hsu P-H, Li D. Innovative efficiency and stock returns[J]. Journal of Financial Economics, 2013, 107 (3): 632 – 654.
[4] Chircop J, Collins D W, Hass L H, et al. accounting comparability and corporate innovative efficiency [J]. The Accounting Review, 2020, 95 (4): 127 – 151.
[5] He J (Jack), Huang J. Product market competition in a world of cross-ownership: evidence from institutional block holdings [J]. The Review of Financial Studies, 2017, 30 (8): 2674 – 2718.
[6] Xu X, Cui X, Zhang Y, et al. Carbon neutrality and green technology innovation efficiency in chinese textile industry [J]. Journal of Cleaner Production, 2023, 395: 136453.
Downloads
Published
Conference Proceedings Volume
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
How to Cite
