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本期主题
Unemployment Insurance, Corporate Innovation and Knowledge Spillover: Evidence from China
时 间：2025年3月12日（Wed.）
12:00 p.m. - 13:00 p.m.
地点：同德楼204
主讲：马晗（上海财经大学）
报告摘要
This paper examines how unemployment insurance benefits (UIB) affect corporate innovation. Exploiting China's 2017 policy reform as a quasi-natural experiment, we find that higher UIB levels significantly reduce innovation activities in publicly listed firms, with patent applications and grants declining by 16.8% and 13.7%, respectively. We identify two mechanisms driving these effects: (1) risk redistribution that enables riskier firms to attract talent, and (2) entrepreneurship incentives that divert skilled workers from established firms. At the provincial level, however, UIB enhances aggregate innovation through non-listed firms. These results demonstrate UIB's dual role in reshaping labor markets and innovation ecosystems, offering critical insights for social welfare policy design.
报告人简介
Han Ma is an Assistant Professor in Finance at the School of Finance, Shanghai University of Finance and Economics. His research interests are empirical corporate finance, corporate governance and household finance. He received his Ph.D. from Georgia State University.
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