“厦门大学会计学科教师与研究生系列Seminar"之六

题    The Relationship between Uncertainty and R&D Investment:  Evidence from China

报告人:张飞达  副教授


主持人:  张国清  教授  


    间:20174月25日(星期二)15:00-17:30


    点:厦门大学嘉庚409  

 

论文摘要: This study develops new theoretical arguments and empirical evidence  that uncertainty has a U-shaped relationship with firmsR&D investment and that patenting moderates this relationship. We  further identify several environmental and firm conditions where the moderating  effect of patenting is most and least likely to hold to strengthen our  theoretical claim. We test our hypotheses by developing a novel panel data set  of Chinese firms. Our study is the first to reveal an important mechanism  through which patenting encourages R&D investment: for firms more active in  patenting, the turning point at which the effect of uncertainty on R&D  switches from negative to positive takes on a smaller value, such that R&D  investment is encouraged over a larger range of uncertainty for these  firms.