Author(s)

Zhang Wang ¹, Cong Tianyu ¹, Ying Hongcun ¹

Affiliation(s)

¹ School of Economics and Management, North China University of Technology, No. 5, Jinyuanzhuang Road, Beijing, China

Corresponding Author

Zhang Wang

ABSTRACT

Inovation is the source power of enterprise development. In recent years, under the double squeeze of overcapacity and insufficient consumption, the phenomenon of industrial enterprises keen on real estate investment has become increasingly prominent. Based on Shanghai and Shenzhen two city industry listed companies in 2012-2021 data sets, using fixed effect model to estimate and mixed regression model to the regression analysis found that the enterprise of real estate investment will form apparent extrusion, the resources available to the enterprise, in turn, the impact of risk degree of stability of the enterprise, is not conducive to enterprise's own technology innovation investment. At the same time, using the proportion of academic directors among independent directors as a moderating variable, it is found that academic independent directors can inhibit industrial enterprises from investing in real estate.

KEYWORDS

Real estate investment, Technological innovation, Academic independent directors

CITE THIS PAPER

Zhang Wang, Cong Tianyu, Ying Hongcun, Research on the Influence of Real Estate Investment on Industrial Enterprise Innovation. Industrial Engineering and Innovation Management (2022) Vol. 5: 64-68. DOI: http://dx.doi.org/10.23977/ieim.2022.051008.

REFERENCES

[1] Deng B. (2014) The impact of real estate investment on corporate innovation: An empirical study based on data from Chinese listed companies. Economics and Management Research, 10, 113-120.
[2] Mi Xuming, Liu Chunyu.  (2020) Product market competition, corporate governance and corporate real estate investment: Empirical evidence from A-share listed companies. Journal of Guizhou University of Finance and Economics, 4:18-28.
[3] Wang Zhirun., Wen Liyao. (2019) Rising housing prices, investment real estate and enterprise innovation. Finance and Economics, 10:59-65.
[4] Feng Jie., Sun Hui. (2021) The influence mechanism of housing price level on enterprise innovation and R&D expenditure. Finance and Economics Theory and Practice, 2:57-66.
[5] Zhang Yongkui, Lai Shaojuan, Du Xingqiang. (2019) Academic independent directors, product market competition and corporate innovation input. Economic Management, 10: 123-138.
[6] Jiao Yuehua, Sun Yuan. (2021) Academic independent directors and firm innovation: Empirical evidence from China's capital market. Accounting and Economic Research, 36 (5): 25-40.

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