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Customer structure and R&D investment: Based on innovative trait

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  • Cui, Wenxin
  • Qiao, Cuixia

Abstract

This paper selects China's A-share listed companies in the manufacturing industry from 2017 to 2022 as a research sample to explore the relationship between customer structure and enterprise R&D investment. It is found that customer concentration has a significant negative impact on the R&D investment of manufacturing enterprises, and the mediating effect of enterprise financing constraints is significant; the main customers of enterprises with innovative traits can promote the R&D investment of enterprises, and the moderating effect of customer innovative traits is significant.

Suggested Citation

  • Cui, Wenxin & Qiao, Cuixia, 2024. "Customer structure and R&D investment: Based on innovative trait," Finance Research Letters, Elsevier, vol. 66(C).
    • Handle: RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324007475
    DOI: 10.1016/j.frl.2024.105717
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    References listed on IDEAS

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