R&D Investment, Market Competition and Cost of Equity Financing

An Empirical Study Based on Mediating Effect

DOI

10.2991/assehr.k.211020.183How to use a DOI?

Keywords

R&D Investment, Market Competition, Cost of Equity Financing

Abstract

This article uses the 2010-2019 data of China’s A-share listed companies as a research sample, explore the impact of R&D investment on the cost of equity financing, study the mediating role of corporate competitiveness. The empirical results show that R&D investment could significantly reduce equity financing costs, enhanced the competitiveness of enterprises in the market, market competitiveness can produce a partial intermediary effect between R&D investment and equity financing costs. Companies should increase their emphasis on R&D activities and enhance market competitiveness to reduce the cost of corporate equity financing.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Wang Mingxian
AU  - Ni Xiaonan
PY  - 2021
DA  - 2021/10/21
TI  - R&D Investment, Market Competition and Cost of Equity Financing
BT  - Proceedings of the 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021)
PB  - Atlantis Press
SP  - 369
EP  - 373
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211020.183
DO  - 10.2991/assehr.k.211020.183
ID  - Mingxian2021
ER  -