文献类型：期刊文献

英文题名：PEER EFFECT OF CORPORATE R&D INNOVATION FROM THE PERSPECTIVE OF UNCERTAINTY

作者：Liu, Dayong[1];Cai, Yunpeng[2]

第一作者：刘大勇

通讯作者：Cai, YP[1]

机构：[1]Henan Univ Econ & Law, Sch Econ, Zhengzhou, Peoples R China;[2]Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Peoples R China

第一机构：河南财经政法大学经济学院

通讯机构：[1]corresponding author), Zhongnan Univ Econ & Law, Sch Finance, Wuhan, Peoples R China.

年份：2023

卷号：24

期号：2

起止页码：315-335

外文期刊名：JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT

收录：;Scopus(收录号：2-s2.0-85162823044);WOS:【SSCI(收录号:WOS:001009869400001)】；

基金：This study was supported by National Social Science Foundation of China (No. 22BJY251) , Fundamental Research Funds for the Central Universities of Zhongnan University of Economics and Law (No. 2722023AK002) and Postgraduate Research Innovation Platform Project of Zhongnan University of Economics and Law (No. 202210564) .

语种：英文

外文关键词：R&D innovation; peer effect; external uncertainty; imitation path; selection effect; corporate governance

摘要：Based on external uncertainty environment and R&D innovation wave background, this paper explores the impact of information noise caused by economic policy uncertainty and the peer effect on corporate R&D innovation activities, using the multiple regression method and the quarterly data of listed Chinese companies from 2010 to 2020, the influencing mechanism and boundary condition of economic policy uncertainty on the peer effect of corporate R&D were analyzed. Results show that there is a significant peer effect at the industry level in the R&D in-novation behavior of corporates, with said effect and the uncertainty of economic policies both significantly stimulate the R&D innovation activities of corporates. The imitation learning path of peer effect is obviously targeted, and corporates in the same industry prioritize corporates with comparative advantages in the industry. Economic policy uncertainty and peer effect also present a certain selection effect on corporate R&D innovation, possibly further enabling corporates with better operating conditions to gain greater market share and gradually eliminate corporates with low R&D innovation ability. The conclusions help decision makers use the peer effect to implement incentive policies and optimize management.