Dynamic Mechanism of Innovation Investment in China's Marine Economic System

On the basis of A-share data of marine listed companies in the Shanghai and Shenzhen stock markets of China from 2014 to 2017, this paper aims to explore the dynamic mechanism of innovation investment in China's marine economic system. The study finds that the managerial power and the quality of internal control information disclosure both have a positive effect on innovation investment in the marine economic system; the latter plays a partial intermediary role, whereas the former affects innovation investment. Additionally, the innovation investment of marine companies is also found to be affected by factors such as enterprise size, growth, financial leverage, return on assets, and Tobin's Q.