The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19
The COVID-19 pandemic has dealt a considerable blow to the development of Chinese enterprises. Therefore, exploring how to reduce the enterprise financial risk under the impact of the COVID-19 has become a current research hotspot. We select the data of 3,098 A-share companies in the quarters of 201...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2022-08-01
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| Series: | Frontiers in Public Health |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fpubh.2022.910758/full |
| _version_ | 1818172585681092608 |
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| author | Xinfei Li Baodong Cheng Yueming Li Jingyang Duan Yuan Tian |
| author_facet | Xinfei Li Baodong Cheng Yueming Li Jingyang Duan Yuan Tian |
| author_sort | Xinfei Li |
| collection | DOAJ |
| description | The COVID-19 pandemic has dealt a considerable blow to the development of Chinese enterprises. Therefore, exploring how to reduce the enterprise financial risk under the impact of the COVID-19 has become a current research hotspot. We select the data of 3,098 A-share companies in the quarters of 2019 and 2020, use the Z-score model to reasonably evaluate enterprise financial risk, and analyze the impact of Research and Development (R&D) investment on enterprise financial risk under the COVID-19.The results show that: ① The COVID-19 pandemic has increased the number of high-risk enterprises. ② R&D investment can effectively reduce the enterprise financial risk, and enterprises that attach importance to scientific research are relatively less affected by the COVID-19. ③ Compared with non-state-owned enterprises, R&D investment under state-owned enterprises can better help enterprises reduce financial risk. ④ When the enterprise financial risk is lower, the role of R&D investment in reducing financial risk is more significant. With the increase of financial risk, the effect of R&D investment on it is weakened. The research results are beneficial to help enterprises to correctly assess their financial risks during the COVID-19, so that enterprises can reasonably invest in research and development, and ultimately ensure the sustainable development of enterprises under the COVID-19. |
| first_indexed | 2024-12-11T19:14:57Z |
| format | Article |
| id | doaj.art-b58348776e7448b7a41bed3320c5ea77 |
| institution | Directory Open Access Journal |
| issn | 2296-2565 |
| language | English |
| last_indexed | 2024-12-11T19:14:57Z |
| publishDate | 2022-08-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Public Health |
| spelling | doaj.art-b58348776e7448b7a41bed3320c5ea772022-12-22T00:53:40ZengFrontiers Media S.A.Frontiers in Public Health2296-25652022-08-011010.3389/fpubh.2022.910758910758The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19Xinfei Li0Baodong Cheng1Yueming Li2Jingyang Duan3Yuan Tian4School of Economics and Management, Beijing Forestry University, Beijing, ChinaSchool of Economics and Management, Beijing Forestry University, Beijing, ChinaSchool of Economics and Management, Beijing Forestry University, Beijing, ChinaSchool of Economics and Management, Beijing Forestry University, Beijing, ChinaSchool of Business, Beijing Union University, Beijing, ChinaThe COVID-19 pandemic has dealt a considerable blow to the development of Chinese enterprises. Therefore, exploring how to reduce the enterprise financial risk under the impact of the COVID-19 has become a current research hotspot. We select the data of 3,098 A-share companies in the quarters of 2019 and 2020, use the Z-score model to reasonably evaluate enterprise financial risk, and analyze the impact of Research and Development (R&D) investment on enterprise financial risk under the COVID-19.The results show that: ① The COVID-19 pandemic has increased the number of high-risk enterprises. ② R&D investment can effectively reduce the enterprise financial risk, and enterprises that attach importance to scientific research are relatively less affected by the COVID-19. ③ Compared with non-state-owned enterprises, R&D investment under state-owned enterprises can better help enterprises reduce financial risk. ④ When the enterprise financial risk is lower, the role of R&D investment in reducing financial risk is more significant. With the increase of financial risk, the effect of R&D investment on it is weakened. The research results are beneficial to help enterprises to correctly assess their financial risks during the COVID-19, so that enterprises can reasonably invest in research and development, and ultimately ensure the sustainable development of enterprises under the COVID-19.https://www.frontiersin.org/articles/10.3389/fpubh.2022.910758/fullfinancial riskR&D investmentCOVID-19enterprise ownershipmoderating variable |
| spellingShingle | Xinfei Li Baodong Cheng Yueming Li Jingyang Duan Yuan Tian The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 Frontiers in Public Health financial risk R&D investment COVID-19 enterprise ownership moderating variable |
| title | The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 |
| title_full | The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 |
| title_fullStr | The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 |
| title_full_unstemmed | The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 |
| title_short | The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19 |
| title_sort | relationship between enterprise financial risk and r d investment under the influence of the covid 19 |
| topic | financial risk R&D investment COVID-19 enterprise ownership moderating variable |
| url | https://www.frontiersin.org/articles/10.3389/fpubh.2022.910758/full |
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