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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Does Monetary Policy Uncertainty Impact Corporate Innovation? The Case of China
 Wang, Jiahui ; Geršl, Adam (advisor) ; Jakubík, Petr (referee)
This paper constructs a panel data model based on the China Monetary Policy Uncertainty Index and combines financial data of Chinese listed companies to investigate the impact of monetary policy uncertainty on companies' R&D investment. The empirical findings show that an increase in monetary policy uncertainty leads to a significant decline in corporate R&D investment. It is further found that monetary policy uncertainty inhibits R&D investment by strengthening the financing constraints of firms; the more abundant the cash flow of firms, the weaker the negative effect of monetary policy uncertainty on R&D investment; and monetary policy uncertainty has a stronger inhibitory effect on innovation in non-state-owned companies than in state-owned companies. JEL Classification F12 Keywords Monetary policy; R&D investment; financing constraints Title Does Monetary Policy Uncertainty Impact Corporate Innovation? The Case of China
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See also: similar author names
1 Wang, Jia
1 Wang, Jieqiong
2 Wang, Jing
1 Wang, Jinliang
1 Wang, Jun
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