R&D Investment, Market Competition and Cost of Equity Financing
An Empirical Study Based on Mediating Effect
Authors
Wang Mingxian, Ni Xiaonan
Corresponding Author
Wang Mingxian
Available Online 21 October 2021.
- 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/).
Cite this article
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 -