原标题：国际知名期刊中国问题研究：Innovation

本期主要介绍Innovation研究的最新论文，以及过往与该研究相关的论文，具体如下：

1.De-politicization and innovation: Evidence from China

Journal of Accounting & Public Policy

Volume 38, Issue 4, July–August 2019

Xiuting Qin

Central University of Finance and Economics

Xueyong Zhang

Central University of Finance and Economics

Abstract

This study analyzes whether the loss of political connections in the Chinese listed firms affects their innovation. Using number of firm patents as a proxy for innovation, we construct a quasi-natural experiment, which focuses on independent directors with political connections were forced to resign due to CPC regulation in 2013 to explore the casual relation between political connections and firm innovation. The baseline results indicate that the innovation output has improved significantly since the promulgation of the Chinese government’s policy in 2013.In addition, we also find two possible underlying channels that firms tend to increase R&D investments and prefer to hire more senior engineers as their independent directors once they lose political ties. The results suggest that de-politicization has been conducive to promoting technological innovation and firms will compensate for their competitiveness weakened by the loss of political connection through two underlying channels in China, which are also confirmed in additional robustness and placebo tests.

链接地址：https://www.sciencedirect.com/science/article/pii/S0278425418302771

2.The effects of rural–urban migration on corporate innovation: Evidence from a natural experiment in China

Financial Management

First published: 03 June 2019

Deqiu Chen

University of International Business and Economics

Huasheng Gao

Fudan University

Jiang Luo

Nanyang Technological University

Yujing Ma

University of International Business and Economics

Abstract

We show that the migration of low‐skilled, rural workers to urban centers has a negative causal effect on innovation of firms in such urban centers. Our tests exploit the staggered relaxation of city‐level household registration system in China, which facilitates rural residents to migrate to cities. We find a significant decrease in innovation for firms headquartered in cities that have adopted such policies relative to firms headquartered in cities that have not. Overall, our results support the view that an abundant supply of low‐skilled workers increases the benefit of using existing low‐skilled technology and thus reduces firms’incentive to innovate.

Keywords:innovation; patents; migration; low‐skilled worker; household registration; hukou

https://onlinelibrary.wiley.com/doi/abs/10.1111/fima.12280?af=R

3.Monetary stimulation, bank relationship and innovation: Evidence from China

Journal of Banking & Finance

Volume 89, April 2018, Pages 237-248

Gaoping Zheng

Southwestern University of Finance and Economics

Shuxun Wang

Southwestern University of Finance and Economics

Yongxin Xu

Victoria University of Wellington

Abstract

Using China's four trillion yuan stimulus package of 2008 (4 Trillion Plan) as an exogenous shock, we find that monetary stimulation could benefit the real economy to some extent. Specifically, compared with propensity-score-matched control firms, firms more likely affected by the stimulus plan (e.g., bank-connected firms) are granted with 18% to 24% more patents afterwards. Further evidence shows that the effect of monetary stimulation is more pronounced in firms with financial constraints, in firms located in regions with lower house price growth, and in firms with better corporate governance. Finally, monetary stimulation also increases R&D expenditure, leaving innovation efficiency unaffected.

Keywords: Monetary stimulation; Innovation; 4 Trillion Plan; Bank relationship

链接地址：https://www.sciencedirect.com/science/article/pii/S0378426618300426#!

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