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Population aging and corporate innovation: evidence from China

Author

Listed:
  • Bo Zhang
  • Ruixue Zhou
  • Limei Yang
  • Ximeng Zhang

Abstract

Using a sample of Chinese listed firms from 2007 to 2017, this study documents that corporate innovation is negatively associated with population aging, indicating that the aging workforce impedes corporate innovation. We further find evidence suggesting that education and stock-based incentive plans are two ways to alleviate the negative impact of population aging on corporate innovation. Our study complements existing research investigating the determinants of corporate innovation and extends the literature examining the economic consequences of population aging. This study also sheds light on the critical role of non-executive employees on corporate innovation.

Suggested Citation

  • Bo Zhang & Ruixue Zhou & Limei Yang & Ximeng Zhang, 2023. "Population aging and corporate innovation: evidence from China," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 30(4), pages 986-1007, July.
    • Handle: RePEc:taf:raaexx:v:30:y:2023:i:4:p:986-1007
    DOI: 10.1080/16081625.2022.2047741
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    Cited by:

    1. Jiang, Dequan & Lan, Meng & Li, Weiping & Shen, Yongjian, 2024. "Threat or opportunity? Unveiling the impact of population aging on corporate labor investment efficiency," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    2. Wang, Ziyue & Yuan, Zhizhu, 2024. "Employee education level and the cost of equity capital," Finance Research Letters, Elsevier, vol. 62(PA).

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