Research on heterogeneous financial support mechanisms for innovation in different types of technology enterprises

Baolin Ma, Ke Li, Haiwen Xu, Jin An, Yihan Wang and Yu Zhang

Finance Research Letters, 2024, vol. 68, issue C

Abstract: This study employs panel data from 30 provinces in China (excluding Tibet, Hong Kong, Macao, and Taiwan) spanning the years 2014 to 2020 to empirically analyze the financial support mechanisms for innovation in both technology start-ups and leading technology enterprises. The findings reveal significant heterogeneity in these mechanisms. Venture capital plays a prominent role in fostering innovation within technology start-ups, particularly in the incubation stage. Conversely, government support for these start-ups is relatively limited, primarily offered through initiatives such as technology enterprise incubators. In contrast, national fiscal policies exert a notably positive impact on the innovation activities of leading technology enterprises.

Keywords: Leading technology enterprises; Technology start-ups; Venture capital; National fiscal (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:68:y:2024:i:c:s1544612324010225

DOI: 10.1016/j.frl.2024.105992

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