A new GLO Discussion Paper finds that firms that received the China Top Brand Award have a higher number, and better quality, of filed patents.
GLO Discussion Paper No. 1345, 2023
Nonmonetary Awards and Innovation: Evidence from Winning China’s Top Brand Contest – Download PDF
by Luo, Lianfa & Cheng, Zhiming & Ye, Qingqing & Cheng, Yanjun & Smyth, Russell & Yang, Zhiqing & Zhang, Le
GLO Fellow Zhiming Cheng
Author Abstract: We use the short-lived, but high-profile, China Top Brand Award to examine the causal effects of nonmonetary awards on firm innovation. To do so, we create a panel dataset by matching official China Top Brand Award recipients to the innovation outputs of listed companies. Results from difference-in-differences estimates show that firms that received the China Top Brand Award have a higher number, and better quality, of filed patents. We find that the positive effects of winning the China Top Brand Award on innovation outputs operate through higher government subsidies to winning firms. We also find that the positive effects of award-winning are stronger among state-owned enterprises, larger enterprises, and better-performing enterprises, as well as in provinces with stronger intellectual property rights protection. Our results are robust to a series of sensitivity checks.
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Journal of Population Economics (JOPE)
JOPE (2022): CiteScore 9.2 (LINK) & Impact Factor 6.1; 524 K Downloads
December 4-6: Global Online GLO-JOPE Conference 2023 on ‘Population Economics’ with highlights of JOPE issues 3 & 4 of 2023 including the presentation of the JOPE 2024 Kuznets Prize. More information forthcoming.
Volume 36, Issue 4, 2023. Covered issues: Historical demography; fertility and marriage; migration and refugee issues; health, vaccinations, risky behaviors; education; retirement; gender issues and preferences
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