The certification effect of government R&D subsidies on innovative entrepreneurial firms’ access to bank finance: evidence from China

Volume: 52, Issue: 1, Pages: 241 - 259
Published: Mar 19, 2018
Abstract
In this paper, we argue that obtaining government R&D subsidies has a certification effect and is used by innovative entrepreneurial firms as a legitimation strategy to access bank finance. We extend the extant literature on the certification effect by combining legitimacy theory with information asymmetry to build our theoretical framework. We test our theoretical model under China’s unique institutional setting, in particular, the weak...
Paper Details
Title
The certification effect of government R&D subsidies on innovative entrepreneurial firms’ access to bank finance: evidence from China
Published Date
Mar 19, 2018
Volume
52
Issue
1
Pages
241 - 259
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