The impact of COVID-19 on firm innovation: Evidence from Chinese listed companies

• DOI: 10.1016/j.frl.2021.102133
• Publication Date: 2021-05-16T00:06:54Z
• Authors: Xin Jin; Min Zhang; Guanghua Sun; Lixin Cui
• Keywords: State owned; 2019-20 coronavirus outbreak

Abstract This study examines the impact of COVID-19 on firm innovation using the data of Chinese listed companies from January 2020 to October 2020. The results show that at the national level, COVID-19 inhibits firm innovation in China. At the regional level, there are no differences in the impacts of COVID-19 on Hubei province and other regions. At the firm level, compared with non-state-owned enterprises (NSOEs), COVID-19 has a greater negative effect on the innovation quality of state-owned enterprises (SOEs). Innovation in large companies is more vulnerable to COVID-19 than in small and medium-sized enterprises (SMEs).