Topic
Spillover effect
About: Spillover effect is a research topic. Over the lifetime, 7869 publications have been published within this topic receiving 167367 citations.
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TL;DR: In this paper, the authors investigate how high-profile accounting frauds affect peer firms' investment and find that peers react to the fraudulent reports by increasing investment during fraud periods, and that this finding is not driven by frauds that have a higher ex ante likelihood of detection or by an association between fraud and investment booms.
Abstract: We investigate how high-profile accounting frauds affect peer firms’ investment. We document that peers react to the fraudulent reports by increasing investment during fraud periods. We show that this finding is not driven by frauds that have a higher ex ante likelihood of detection or by an association between fraud and investment booms. In addition, we find that peers’ investments increase in fraudulent earnings overstatements, and in industries with higher investor sentiment, lower cost of capital and higher private benefits of control. We also find evidence consistent with equity analysts potentially facilitating the spillover effect.
117 citations
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TL;DR: Wang et al. as mentioned in this paper examined the sources of technological innovation in Chinese industries using the 2004 economic census data, and analyzed the relationships between patent grants and new product sales, revealing that in-house R&D has become the most important source for industrial innovation in China.
Abstract: This study examines the sources of technological innovation in Chinese industries using the 2004 economic census data. On the one hand, it analyzes the relationships between patent grants and new product sales. On the other hand, it analyzes the relationships among in-house R&D, technology transfer from foreign and Chinese domestic technology markets, spillover effects of foreign investment, as well as export. The study reveals that in-house R&D has become the most important source for industrial innovation in China. In-house technological efforts are critical for developing original innovations as well as for absorbing the technologies transferred from external agencies. However, neither technologies transferred from foreign countries nor those from the domestic technology market are playing significant roles in China’s industrial innovation. The spillover effect of foreign investment on patent grants is strong and significant, though its impact on new product sales is insignificant. Export shows negative, though insignificant, impact on patent grants, but positive, strong, and significant effects on new product development. Overall, the results of this study demonstrate the critical role of in-house R&D in China’s industrial innovation.
117 citations
TL;DR: Spillover is a well-known phenomenon in heterogeneous catalysis and is involved in many important reactions as discussed by the authors, and the establishment of the spillover concept opened up a new research field for an in-dept...
Abstract: Spillover is a well-known phenomenon in heterogeneous catalysis and is involved in many important reactions. The establishment of the spillover concept opened up a new research field for an in-dept...
117 citations
TL;DR: In this article, the authors explore the influence of property taxes on home prices, taking advantage of a policy experiment of property taxation in Shanghai and in Chongqing starting from January 2011.
116 citations
TL;DR: In this article, the authors suggest that self-efficacy may be an important motivator of environmental spillover, and could be used to help encourage engagement in more challenging pro-environmental behaviours.
116 citations