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Does peer influence improve firms’ innovative investment? Evidence from China
Energy Reports ( IF 5.2 ) Pub Date : 2021-12-30 , DOI: 10.1016/j.egyr.2021.12.029 Rong Xiao, Chun-Ai Ma, Guang-Rui Song, Heng-Yu Chang
Energy Reports ( IF 5.2 ) Pub Date : 2021-12-30 , DOI: 10.1016/j.egyr.2021.12.029 Rong Xiao, Chun-Ai Ma, Guang-Rui Song, Heng-Yu Chang
Chinese government promotes the synergy of regional innovation and established several innovation reform zones as innovative investment is critical for the development of a firm and economic growth. An important related question we address in this paper is how peers influence firms’ innovative investment using Chinese listed companies from 2013 to 2017. We find that firms’ innovative investment is significantly influenced by their peers, and when the market competitiveness of a firm is weaker, its innovative investment is more greatly affected by its peers. Firms are highly sensitive to their similar peers. The peer effects in innovative zones are stronger than those from outside of the zones. We discuss the policy implications of the findings.
更新日期：2021-12-30
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