The impact of venture capital on the development of medical and healthcare industry: Empirical analysis of Chinese A-share pharmaceutical companies

被引：1
|
作者：
Li, Xiuzhen [1 ]
Sun, Yuchen [2 ]
Long, Zhi [3 ]
Wang, Qian [3 ]
机构：
[1] Shanghai Normal Univ, Sch Finance & Business, Shanghai 200233, Peoples R China
[2] Hubei Univ, Business Sch, Wuhan 430062, Peoples R China
[3] Shanghai Jiao Tong Univ, Shanghai Gen Hosp, Pediat Dept, Sch Med, Shanghai 201600, Peoples R China
来源：
PACIFIC-BASIN FINANCE JOURNAL | 2024年 / 85卷
关键词：
Venture capital; Healthcare industry; Pharmaceutical companies;
D O I：
10.1016/j.pacfin.2024.102366
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
In this paper we explore the impact of venture capital on the development of China's healthcare industry by using data from China's A-share listed pharmaceutical companies from 2012 to 2022. The study empirically examines the impact of venture capital on the healthcare industry and its specific mechanism using a mediation effect model. We find that venture capital will further promote healthcare industry development through corporate research and development innovation and the clustering effect of venture capital. This contributes to the literature the research on venture capital and the medical and healthcare industries because it is an empirical study and it examines A-share pharmaceutical enterprises. Our findings are robust and assist and in promoting healthcare innovation by enhancing their scientific and technological innovation and the radiation effect. The robustness test further confirmed the role of venture capital in enhancing the medical and health industries.
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页数：11
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