Sci-Tech finance pilot policies, property rights protection and enterprise innovation

Yibo Cao

Finance Research Letters, 2025, vol. 83, issue C

Abstract: In the context of building an innovative nation, the advantages of the Sci-Tech Finance Pilot Policy are becoming increasingly evident, as it boosts corporate innovation. Using financial data from China's A-share listed companies between 2009 and 2021, we examine the impact of Sci-Tech finance pilot policies on firms' innovation capabilities. The results indicate that the integration of science, technology, and finance significantly enhances corporate innovation, with a more pronounced effect in state-owned enterprises. Furthermore, intellectual property protection serves as a mediating factor between the two.

Keywords: Sci-Tech finance; Intellectual property protection; Enterprise innovation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325010141

DOI: 10.1016/j.frl.2025.107756

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