Abstract
ABSTRACT Using twelve years data (2008–2019) of listed firms in high-end equipment manufacturing industry (HEMI), this study evaluates the impact of China’s high-and new-technology enterprise (HNTE) programme on firm innovation. It finds that HNTE certification boosts the number and growth rate of firms’ innovation outputs, and such effect is affected by corporate governance environment. Our findings reveal the effectiveness of government intervention in innovation under diverse corporate internal governance conditions.
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