文献类型：期刊文献

英文题名：The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19

作者：Li, Xinfei[1];Cheng, Baodong[1];Li, Yueming[1];Duan, Jingyang[1];Tian, Yuan[2]

第一作者：Li, Xinfei

通讯作者：Tian, Y[1]

机构：[1]Beijing Forestry Univ, Sch Econ & Management, Beijing, Peoples R China;[2]Beijing Union Univ, Sch Business, Beijing, Peoples R China

第一机构：Beijing Forestry Univ, Sch Econ & Management, Beijing, Peoples R China

通讯机构：[1]corresponding author), Beijing Union Univ, Sch Business, Beijing, Peoples R China.|[1141721]北京联合大学商务学院;[11417]北京联合大学;

年份：2022

卷号：10

外文期刊名：FRONTIERS IN PUBLIC HEALTH

收录：;Scopus(收录号：2-s2.0-85136508464);WOS:【SSCI(收录号:WOS:000843076200001)，SCI-EXPANDED(收录号:WOS:000843076200001)】；

基金：Funding This research was funded by Beijing Social Science Foundation (21LLGLC038), Humanities and Social Science Foundation of Ministry of Education of China (21YJC630127), Social Science Program of Beijing Municipal Education Commission (SM202011417010), and National Natural Science Foundation of China (Grant Nos. 72073012 and 71873016).

语种：英文

外文关键词：financial risk; R&D investment; COVID-19; enterprise ownership; moderating variable

摘要：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.