A Study on The Effect of Leverage Level on The Level of Innovation Output of Enterprises: A Threshold Regression Based on The Nature of Industry and Property Rights

DOI

10.2991/978-94-6463-056-5_90How to use a DOI?

Keywords

enterprise leverage; enterprise innovation output; nature of industry; nature of property rights; large-sample data analysis

ABSTRACT

In the context of deepening supply-side structural reform, the implementation of the "deleveraging" policy may bring impact on the innovation output of enterprises, and the role of innovation for enterprises and countries is self-evident. Therefore, to explore the relationship between the two, the data of A-share listed industrial enterprises from 2014-2019 are used as a sample, and the threshold effect is tested and threshold regression is performed for samples with different property rights based on the nature of property rights, under the condition that the differences in indicators of each industry are controlled. The results indicate that: 1) for the overall enterprises, it is most beneficial to increase its innovation output level when its enterprise leverage level is less than 0.6782. 2) For SOEs, it is more favorable to improve their innovation output when their leverage level is less than 0.5862. 3) For non-state enterprises, there is no significant threshold effect between their leverage level and the level of innovation output.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Shijie Ding
AU  - Tongyu Liu
AU  - Xinyue Wang
PY  - 2022
DA  - 2022/12/29
TI  - A Study on The Effect of Leverage Level on The Level of Innovation Output of Enterprises: A Threshold Regression Based on The Nature of Industry and Property Rights
BT  - Proceedings of the 2022 2nd International Conference on Management Science and Software Engineering (ICMSSE 2022)
PB  - Atlantis Press
SP  - 613
EP  - 620
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-056-5_90
DO  - 10.2991/978-94-6463-056-5_90
ID  - Ding2022
ER  -