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Population aging and corporate innovation Performance: evidence from China

Year: 2025

Type: article

Abstract: : Drawing on the contingency theory, this study investigates how population aging reshapes corporate innovation in China. With the CSMAR firm database, we find that population aging suppresses corporate patenting by raising labour costs and diluting human capital quality. We further document that scientific expenditure could weaken the impact of population aging on corporate patenting, thereby acting as a strategic buffer. These findings jointly show that population aging constrains corporate innovation performance; for policy implications, they indicate that government policies stimulating scientific expenditure can be a direction to overcome the constraint effect.

Source: International Review of Economics & Finance

DOI: 10.1016/j.iref.2025.104199

Authors: Zhongying Jing, Zheng Li, Ping Zheng

Institutions: Jilin University, Liaoning University, Canterbury Christ Church University

Language: English

Topic: Firm Innovation and Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $1,930