The Impact of Unemployment Insurance Benefit on Firms’ Innovation: Example of Research & Development

• Main Author: 秦維陽
• Other Authors: Liang, Woan-Lih
• Format: Others
• Language: en_US
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/79rg5g

碩士 === 國立交通大學 === 財務金融研究所 === 106 === This study explores the unemployment insurance benefit generosity relations with innovation and innovation efficiency. The unemployment insurance policy is different in amount and length in each state. R&D expenditure is defined as innovation input and patent/R&D capital & citation/ R&D is proxy for innovation efficiency. This study use public companies between 1977-2013 in the United State. The results suggest that there is a positive relationship between unemployment insurance benefit generosity and innovation input. Furthermore unemployment insurance has a negative impact on firm's innovation efficiency. While most of our innovation efficiency data is censored at zero, the Tobit model suggest that unemployment insurance has a positive impact on firm's innovation efficiency. We also separate our data into two samples base on labor intensity, tech firm, state GDP growth rate and state unemployment rate to find the channel that will affect innovation. We find the generous of the unemployment insurance have a stronger impact on innovation when company in the high labor intensity, high tech firm, low state GDP growth rate and high state unemployment rate sample.