Proceedings of the 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021)

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/).

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Volume Title
Proceedings of the 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
21 October 2021
ISBN
978-94-6239-440-7
ISSN
2352-5398
DOI
10.2991/assehr.k.211020.183How to use a DOI?
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  -