The effect of state-owned venture capital on enterprise innovation: Evidence from China

被引：1
|
作者：
Yu, Chenyang [1 ]
Wang, Mengke [2 ]
Fu, Changluan [1 ]
Song, Jinbo [1 ]
机构：
[1] Hangzhou Normal Univ, Sch Econ, Hangzhou 311121, Peoples R China
[2] Ind & Commercial Bank China, Hangzhou Hushu Branch, Hangzhou 310005, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2024年 / 67卷
基金：
中国国家自然科学基金;
关键词：
state-owned venture capital; financing constraints; joint investment; technical talents; enterprise innovation;
D O I：
10.1016/j.frl.2024.105804
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Venture capital (VC) funded by state-owned enterprises constitutes a significant component of China's state-owned capital (SOC) investment. This paper empirically investigates the impact of state-owned venture capital (SOVC) on enterprise innovation and identifies that SOVC exerts a more pronounced influence on enhancing enterprise innovation capability. SOVC facilitates the enhancement of enterprise innovation capability by alleviating financial constraints, fostering joint investments, and attracting technical talents. This paper not only aids in identifying effective approaches to advance SOC reform but also contributes to enhancing enterprise innovation capability through the utilization of SOC.
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页数：6
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