Analyst coverage, corporate governance, and firms' innovation output: Evidence from China
International Business School, Beijing Foreign Studies University, Beijing, P.R. China
ABSTRACT: This paper studies the effect of analyst coverage on firms’ innovation output in China. Using data of listed firms from 2003 to 2017, this study finds evidence that analyst coverage is positively related to firms’ innovation output. To establish causality, the paper uses both an instrumental approach and a difference-in-differences approach. The identification methodologies suggest a positive effect of analyst coverage on firms’ innovation output. On the basis of the features of corporate governance in China, the paper ...
Get Economic and Business Management now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
