Business environment, financing constraints and enterprise innovation investment

被引：1

作者：

Sun, Liming ^{[1
]}

Shen, Juanjuan ^{[2
]}

Zhai, Jun ^{[3
]}

Lu, Feixiang ^{[4
]}

Zhang, Xue ^{[5
]}

Liu, Aichun ^{[6
]}

Guan, Haoyuan ^{[7
]}

机构：

[1] China Xian Jiaotong Univ, Sch Humanities & Social Sci, Xian 710049, Shaanxi, Peoples R China

[2] Guiyang Inst Humanities & Technol, Guiyang 550000, Guizhou, Peoples R China

[3] Yunnan Univ Finance & Econ, Kunming 650000, Yunnan, Peoples R China

[4] Yunnan Minzu Univ, Kunming 650000, Yunnan, Peoples R China

[5] Xi An Jiao Tong Univ, Xian 710000, Shaanxi, Peoples R China

[6] Shandong Haixue Educ Technol Co Ltd, Jinan 250000, Shandong, Peoples R China

[7] Guizhou Univ, North Alabama Int Coll Engn & Technol, Guiyang 550000, Guizhou, Peoples R China

来源：

FINANCE RESEARCH LETTERS | 2024年 / 70卷

关键词：

Business environment; Financing constraints; Innovation investment;

D O I：

10.1016/j.frl.2024.106310

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study utilizes a sample of A-share listed companies in China spanning from 2012 to 2022 to delve into the correlation between the business environment and corporate innovation investment. The findings reveal that a favorable business environment significantly bolsters corporate investment in innovation. Additionally, financing constraints emerge as a crucial intermediary factor, facilitating the enhancement of corporate innovation through improved business conditions. Notably, the business environment in both the eastern and central regions exerts a marked positive influence on innovation investment, with the eastern region demonstrating a more profound effect.

引用

页数：8

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