Economic policy uncertainty: A new firm‐level measurement and impact on enterprise innovation strategies-Reference-Cited by-同舟云学术

Economic policy uncertainty: A new firm‐level measurement and impact on enterprise innovation strategies

Published:2023-08-10 Issue:8 Volume:44 Page:4671-4685
ISSN:0143-6570
Container-title:Managerial and Decision Economics
language:en
Short-container-title:Manage Decis Econ

Author:

Li Guangchen¹²^ORCID,Ma Qianlong²,Khan Subuhi³,Aliani Khaoula³^ORCID

Affiliation:

1. Institute for Carbon Peak and Neutrality Beijing Wuzi University Beijing China

2. School of Economics Beijing Wuzi University Beijing China

3. Department of Business Administration College of Business Administration, Princess Nourah Bint Abdulrahman University Riyadh Kingdom of Saudi Arabia

Abstract

AbstractThis paper investigates the impact of the perception of economic policy uncertainty (PEPU) on enterprise innovation strategies. Using a text‐based method and a sample of Chinese listed companies from 2007 to 2021, we find that PEPU negatively affects substantive and strategic innovations, and its negative impact on strategic innovations is more noticeable than that on substantive innovations. Mechanism analysis shows that PEPU affects enterprise innovation strategies through innovation investment and financing constraints. Moreover, enterprises with a high shareholding ratio of executives and private enterprises are more likely to suffer the negative impact of PEPU. Finally, analyst attention and internal control quality may weaken the inhibitory impact of PEPU on enterprise innovation strategies.

Publisher

Wiley

Subject

Management of Technology and Innovation,Management Science and Operations Research,Strategy and Management,Business and International Management

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1002/mde.3969

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