Please use this identifier to cite or link to this item: https://doi.org/10.1016/S1043-951X(03)00028-2
Title: Returns to research and development in Chinese industry: Evidence from state-owned enterprises in Beijing
Authors: Hu, A.G. 
Jefferson, G.H.
Keywords: Chinese industrial enterprises
Productivity
Profitability
Returns to R&D
Issue Date: 2004
Citation: Hu, A.G., Jefferson, G.H. (2004). Returns to research and development in Chinese industry: Evidence from state-owned enterprises in Beijing. China Economic Review 15 (1) : 86-107. ScholarBank@NUS Repository. https://doi.org/10.1016/S1043-951X(03)00028-2
Abstract: This paper estimates returns to research and development (R&D) in Chinese industry. Using a firm-level data set on innovation activity in large- and medium-size industrial enterprises during 1991-1997 in the Beijing area, we estimate three equations-an R&D expenditure equation, a production function, and a profit function. Panel data estimation methods are applied to a semibalanced data set constructed from the raw sample. We find substantial and significant returns to R&D in the cross-section dimension. We also find substantial cross-industry variation in the return to R&D, which declined considerably over the sample period. R&D expenditure increases less than proportionately with firm size, it also seems to be unrelated to cash flow. © 2003 Elsevier Inc. All rights reserved.
Source Title: China Economic Review
URI: http://scholarbank.nus.edu.sg/handle/10635/22448
ISSN: 1043951X
DOI: 10.1016/S1043-951X(03)00028-2
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