文献类型：期刊文献

英文题名：Can housing price regulation improve R&D performance in universities? Evidence from China

作者：Yang, Zhenbing[1];Chen, Zhuo[2,3];Shao, Shuai[4];Yang, Lili[5]

机构：[1]Nanjing Univ Finance & Econ, Sch Econ, Nanjing 210023, Peoples R China;[2]Nanjing Normal Univ, Sch Educ Sci, Nanjing 210097, Peoples R China;[3]Nanjing Univ Finance & Econ, Inst Higher Educ, Nanjing 210023, Peoples R China;[4]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[5]Shanghai Lixin Univ Accounting & Finance, Sch Int Econ & Trade, Shanghai 201209, Peoples R China

年份：2022

卷号：82

外文期刊名：SOCIO-ECONOMIC PLANNING SCIENCES

收录：;WOS:【SSCI(收录号:WOS:000833547700014)，SCI-EXPANDED(收录号:WOS:000833547700014)】；

基金：We acknowledge the financial support from the National Natural Science Foundation of China (Nos. 72173059, 71904077, 72074150, 71922015, and 71773075), the National Social Science Foundation of China (Nos. 21ZDA084 and 18ZDA102), Jiangsu Qing Lan Project, Philosophy and Social Sciences Research Project of Universities of Jiangsu Province (2020SJA0273), and Higher Education's Reform and Development Project of Nanjing University of Finance and Economics (No. GJGF202004).

语种：英文

外文关键词：House property tax pilot policy; R&D total factor productivity; Difference-in-differences; Propensity score matching; Heterogeneous stochastic frontier analysis

摘要：The house property tax pilot policy (HPTPP) introduced in 2011 has resulted in the redistribution of R&D resources. However, few studies have focused on the impacts of this policy. In this paper, we use the heterogeneous stochastic frontier analysis method to measure the R&D total factor productivity (TFP) growth rate of Chinese universities. Then, the difference-in-differences (DID) method is employed to examine the impact of the HPTPP on R&D performance. Furthermore, a series of robustness tests are conducted on the estimated results, including: a parallel trend test, by advancing the introduced time of policy; a reduction of the self-selection bias, by adopting the propensity score matching (PSM); and an interference elimination of the house-purchasing restriction policy. Finally, based on the extensive margin and the intensive margin, we investigate the mechanisms of the HPTPP on R&D performance. The results show that the R&D TFP of Chinese universities displays a downward trend. After reducing self-selection bias, the HPTPP exerts no significant effect on R&D TFP growth rate of Shanghai's universities, but the HPTPP does reduce the R&D TFP growth rate of universities located in Chongqing. This conclusion remains robust after changing the matching ratio of the PSM strategy and eliminating the interference of the house-purchasing restriction policy. For Shanghai's universities, the effects of the HPTPP on extensive margin (i.e., factor input scale) and intensive margin (quantity of efficient factors) are not clear, resulting in an uncertain impact on R&D TFP growth rate. However, for Chongqing, the negative effect on the scale of factor input leads to a decline in R&D TFP growth rate of universities. Therefore, when restraining housing prices, the government should prevent the negative effect on R&D investment and attract high-end talent through preferential conditions.