scholarly journals Financial constraints, government subsidies, and corporate innovation

PLoS ONE ◽  
2021 ◽  
Vol 16 (11) ◽  
pp. e0259642
Author(s):  
Qi Li ◽  
Jiaojiao Wang ◽  
Guohua Cao ◽  
Jing Zhang
Keyword(s):  
Financial Constraints ◽  
Mediation Effect ◽  
Government Subsidies ◽  
Panel Model ◽  
Corporate Innovation ◽  
Chinese Listed Companies ◽  
Different Types ◽  
The Government ◽  
Effect Test ◽  
Structural Innovation

To investigate the relationships between financial constraints, government subsidies, and corporate innovation, a semi-logarithmic fixed-effect panel model and mediation effect test were applied, based on the data of Chinese listed companies from 2007 to 2017. We find that (1) financial constraints suppress corporate innovation. (2) Government subsidies are targeted at bailing out firms facing financial constraints. (3) Government subsidies promote corporate innovation (4) Government subsidies partially offset the suppression of financial constraints on innovation. We contribute to the fields of public finance, corporate finance, and corporate innovation by: (1) justifying the government subsidies target strategy as a bailout of corporate financial constraints, (2) verifying the corporate-innovation promotion of government subsidies, thus justifying the efficiency of government subsidies, and (3) showing that different types of innovation benefit differently from subsidies, thus justifying subsidies as a structural innovation engine.

scholarly journals Environmental Protection Investment and Enterprise Innovation: Evidence from Chinese Listed Companies

2021 ◽  
Author(s):  
Xinfeng Jiang ◽  
Ahsan Akbar ◽  
Eglantina Hysa ◽  
Minhas Akbar
Keyword(s):  
Environmental Protection ◽  
Crowding Out ◽  
Chinese Enterprises ◽  
Corporate Managers ◽  
Listed Firms ◽  
Innovation Activities ◽  
Corporate Innovation ◽  
Chinese Listed Companies ◽  
Enterprise Innovation ◽  
The Government

Abstract China has emerged as the world’s second-largest economy due to its rapid industrial expansion and phenomenal economic growth in recent decades. Though, this exponential economic turnaround has been fueled by widespread energy consumption, making China among the largest pollutant emitters in the world. Chinese enterprises have come under greater scrutiny and the government has mandated Chinese companies to undertake environmental protection investment. However, little is known that how these mandatory environmental investments affect Chinese firms’ ability to undertake R&D expenditures. This study employs data of China’s A-share listed firms during 2008-2016 to examine the nexus between environmental protection investment and corporate innovation. Our findings conjecture the crowding-out effects of environmental investments on enterprise innovation-related expenditures. Furthermore, additional empirical testing reveals that R&D undertakings of state-owned and politically connected firms are not affected by environmental investments. Likewise, corporate innovation activities are not negatively influenced by environmental investments in polluting industries. The study findings offer fresh insights to regulators, corporate managers, and stakeholders. Our results are robust to alternate econometric specifications and alternate variable specifications.

Performance Impacts of Operating Subsidies in the Paratransit Sector

1997 ◽  
Vol 1571 (1) ◽  
pp. 75-80 ◽  
Author(s):  
Matthew G. Karlaftis ◽  
Kumares C. Sinha
Keyword(s):  
Drastic Reduction ◽  
Transit Systems ◽  
Government Subsidies ◽  
Different Types ◽  
State And Local ◽  
The Government ◽  
Transit Performance ◽  
Different Sources

A multitude of studies in recent years have concluded that there are clear links between the amount of government subsidies and subsequent levels of transit performance and productivity. These studies have used data from fixed-schedule/fixed-route transit systems, largely ignoring the possibility of a different reaction of paratransit systems to the provision of operating subsidies. The effect of operating subsidies on the performance of paratransit systems is examined. The results indicate that subsidies from different sources (federal or state and local) have different directions and magnitudes of effects on the performance of different types of paratransit systems. Privately operated systems have been able to absorb and utilize subsidies in such a manner that has increased their performance, but the performance of publicly operated systems has generally decreased with the provision of subsidies. Finally, a drastic reduction in the levels of federal operating subsidies, a direction toward which the government is heading, will significantly and negatively affect the performance of paratransit systems.

RURAL TOURISM IN INDIA CHALLENGES AND OPPORTUNITIES

2018 ◽  
Vol 6 (26) ◽  
Author(s):  
Pankaj Sharma ◽  
Ravi Parkash
Keyword(s):  
Private Sector ◽  
Rural Areas ◽  
Economic Condition ◽  
Rural Tourism ◽  
Rural Location ◽  
Different Types ◽  
Challenges And Opportunities ◽  
Political Background ◽  
The Government

The paper analyze the role of rural tourism for the development of rural areas, The study analyzed how the different types of tourist product diversifications influence the development possibilities of studied rural areas in India. The government should sponsor private Sector to promote tourism in rural areas. For upgrading the rural tourism government requires to understand the rural location, demography, socio-culture, financial and political background of that area. How we can involve the rural citizens to improve their socio-economic condition. The objective of this paper is to present an update on rural tourism expansion and development in India. Rural tourism is rising in terms of number of visitors and the government of India should focus on it as an engine of growth

The rotating Presidency of the Council of the EU – Still an agenda-setter?

2020 ◽  
Vol 21 (3) ◽  
pp. 497-518
Author(s):  
Austė Vaznonytė
Keyword(s):  
Institutional Changes ◽  
The European Union ◽  
Issue Salience ◽  
Political Factors ◽  
Agenda Setter ◽  
Panel Model ◽  
The Government ◽  
Council Presidency ◽  
Over Time ◽  
The Eu

What role does the rotating Council Presidency maintain a decade after Lisbon? This article argues that, regardless of institutional changes, the rotating Presidency still shapes the Council agenda to a large extent. Based on an original hand-coded dataset of rotating Presidency programmes between 1997 and 2017, I show that some policies are ‘stickier’ on the Council agenda, while the others exhibit significant changes in salience over time. Since the magnitude of these shifts varies from Presidency to Presidency, the analysis focuses on domestic political factors and the country positioning vis-à-vis the European Union to determine their relationship with agenda volatility. By means of a panel model, the examination demonstrates that the government issue salience can best explain the levels of issue salience in the Presidency programmes.

scholarly journals Growth and Productivity Analysis of Micro Finance Sector: A Case Study of Pakistan

2019 ◽  
Vol IV (III) ◽  
pp. 71-79
Author(s):  
Adnan Ahmad ◽  
Muhammad Ilyas ◽  
Muhammad Nisar Khan
Keyword(s):  
Rural Areas ◽  
Urban Areas ◽  
Growth Strategy ◽  
Productivity Analysis ◽  
Growth Strategies ◽  
Physical Infrastructure ◽  
Different Types ◽  
The Government ◽  
Efficiency And Productivity

This study reviews the growth strategies and their effect on the efficiency and productivity of the microfinance sector of Pakistan. The sector needs to have adopted intensive growth strategy instead of extensive strategies of wide expansion in term of physical infrastructure and human resources, which had increased the financial sustainability risks for the credit constrain institutions. The sixdimension model of outreach used in this study also shows that the sector does not achieve the targets set forth for these micro finance institutes with respect to its active borrowers’ outreach. The sector has mainly focused the big cities and urban areas whereas the poverty levels are higher in rural areas. The government has also shown its interest by launching two different types of loan schemes. Among the three different types of institution, the microfinance banks dominate the sector.

scholarly journals Be Green to Be Innovative: The Role of Government Subsidies

2021 ◽  
Vol 9 ◽  
Author(s):  
Yingbo Xu ◽  
Wei Liu ◽  
Ruihui Pu ◽  
Yonghui Xu
Keyword(s):  
Environmental Protection ◽  
Industrial Firms ◽  
Role Of Government ◽  
Market Strategy ◽  
Institutional Legitimacy ◽  
Government Subsidies ◽  
Environmental Investment ◽  
Innovation Activities ◽  
Corporate Innovation

Corporate environmental investment has long been recognized as a non-market strategy that helps secure both economic and social benefits. However, we know much less about how environmental investment affects corporate innovation. We argue that investment in environmental protection is an important source of institutional legitimacy for firms to secure government resources, thus providing financial support for corporate innovation activities. Using a sample of Chinese industrial firms, we find that firms investing more in environmental protection can receive more government subsidies and then have better innovation performance. This study emphasizes the mechanism of government resources, which enriches our understanding of the effect of environmental investment on corporate innovation.

scholarly journals How are Kawaii (Cute) Fictional Characters Used in Japanese Advertising

2021 ◽  
Vol 14 (1 (39)) ◽  
pp. 55-78
Author(s):  
Oana-Maria BÎRLEA
Keyword(s):  
Egg Yolk ◽  
Cultural Dimensions ◽  
Fictional Characters ◽  
Japanese Company ◽  
The Public ◽  
Different Types ◽  
The Government ◽  
Commercial Advertising

This article aims to explain the use and role of cute, adora- ble characters in Japanese advertising. Kawaii culture or the “culture of cute” has become known worldwide mainly because of Hello Kitty, the cat which led the “pink globalization”, as Yano (2013) states. In this paper we have attempted to reveal the symbolism of these apparent meaning- less cute signs and characters. Starting from Hofstede’s theory of cultural dimensions (2001, 2003, 2010), which shows how a society’s culture influ- ences the values of its members, we intended to show how are these kawaii characters used in Japanese advertising and how they fit cultural specif- ics. Used either in non-commercial, educational or commercial advertising, cute personae can make the target audience feel more comfortable, secure and cooperating (Murakami, 2005). In this paper we have discussed the role of three iconic characters: the emblematic Hello Kitty, Kumamon, the lovely bear created by the government of Kumamoto Prefecture (Japan) and Gudetama, a lazy egg yolk produced by the Japanese company Sanrio in 2014. The selected characters reflect different types and personalities and each of them serves a specific purpose, but via the analysis conveyed we conclude that perhaps their main aim is to persuade and create a long-term relationship with the public.

scholarly journals Unpacking Privacy: Willingness to pay to protect personal data

2019 ◽  
Author(s):  
Anya Skatova ◽  
Rebecca Louise McDonald ◽  
Sinong Ma ◽  
Carsten Maple
Keyword(s):  
Business Models ◽  
Personal Data ◽  
Digital Economy ◽  
Privacy Preferences ◽  
Individual Privacy ◽  
Free Service ◽  
Different Types ◽  
The Government ◽  
Evaluation Techniques ◽  
Future Business

Data is key for the digital economy, underpinning business models and service provision, and a lot of these valuable datasets are personal in nature. Information about individual behaviour is collected regularly by organisations. This information has value to businesses, the government and third parties. It is not clear what value this personal data has to consumers themselves. Much of the digital economy is predicated on people sharing personal data, however if individuals value their privacy, they may choose to withhold this data unless the perceived benefits of sharing outweigh the perceived value of keeping the data private. Further, they might be willing to pay for an otherwise free service if paying allowed them to avoid sharing personal data. We used five evaluation techniques to study preferences for protecting personal data online and found that consumers assign a positive value to keeping a variety of types of personal data private. We show that participants are prepared to pay different amounts to protect different types of data, suggesting there is no simple function to assign monetary value that can be identified for individual privacy in the digital economy. The majority of participants displayed remarkable consistency in their rankings of the importance of different types of data, a finding that indicates the existence of stable individual privacy preferences in protecting personal data. We discuss our findings in the context of research on the value of privacy and privacy preferences, and in terms of implications for future business models and consumer protection.

scholarly journals Application of Corporate Social Responsibility -- Taking Chinese Listed Companies in the COVID-19 as an Example

2021 ◽  
Author(s):  
Chih-Yi Hsiao ◽  
Hao-Wei Chen
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Financial Constraints ◽  
Listed Companies ◽  
Factors Affecting ◽  
Financial Slack ◽  
Revenue Growth ◽  
Chinese Listed Companies ◽  
Corporate Social

This study focuses on a sample of Chinese listed companies from 2019 to 2020 to explore the relationships among corporate social responsibility, financial constraints, and financial performance. In addition, we discuss five factors affecting financial constraints. We also analyze the types of enterprises that can improve their financial performance by implementing corporate social responsibility keeping in mind the factors that lead to a high degree of financial constraint. The results indicate that: 1. The degree of financial constraints has a negative and significant impact on financial performance; 2. There is a reverse relationship between the degree of financial constraints and the effectiveness of corporate social responsibility measures; 3. Enterprises with high financial constraints (due to lower financial slack and revenue growth rates) can significantly improve their financial performance through the implementation of effective corporate social responsibility programs. 4. Enterprises with high financial constraints, caused by financial slack and revenue growth rate, can significantly improve their financial performance by implementing corporate social responsibility programs.

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