Venture capital and innovation in China: The non-linear evidence

Wen, Jun; Yang, Di; Guo, Feng; Dong, Minyi; Chang, Chun‐Ping

doi:10.1016/j.strueco.2018.05.004

Cited by 43 publications

(27 citation statements)

References 74 publications

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“…Wind has built up a large, complete, and accurate data warehouse focused on financial securities data, covering stocks, funds, bonds, foreign exchange, insurance, futures, financial derivatives, spot trade, macroeconomics, financial news, and other fields). Due to the different economic systems of Hong Kong, Macao and Taiwan, and mainland China, it is difficult to obtain relevant statistics [34]. Considering the integrity of the data, the sample excludes Hong Kong, Macao, and Taiwan.…”

Section: Sample and Data Usedmentioning

confidence: 99%

The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

et al. 2019

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This study examines the non-linear effect of financial support on energy efficiency for 30 provinces in China, over the period 2003 to 2016. Specifically, we find that technological progress is a key factor in improving energy efficiency, regardless of the transition variable or sample chosen. The non-linear effects of the support of different financial sectors on energy efficiency are different. Banks have the greatest positive impact on energy efficiency, but as economic and financial development levels increase, this impact will diminish. The impact of securities on energy efficiency is contrary to bank support, because as the level of economic and financial development increases, the impact of securities on energy efficiency will shift from negative to positive. The impact of insurance support on energy efficiency is not significant.

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Section: Sample and Data Usedmentioning

confidence: 99%

The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

et al. 2019

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“…The indicator mostly employed to characterize the level of the enterprise innovation is the total number of patent applications, which is absolutely a good proxy for the innovation capability reflecting a good proxy for the innovation output (Salomon & Shaver, 2010; Wen, Yang, Feng, Dong, & Chang, 2018).…”

Section: Methodsmentioning

confidence: 99%

Threshold effect of gender composition in the top management team on firm innovation: New evidence from China

Huang

2020

Manage Decis Econ

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Whether there is an optimal threshold interval of gender structure of the top management team (hereafter TMT) was determined from the view of maximizing the innovation capacity of the firm. Drawing upon the social role and cognitive theories, the present study applies the panel threshold regression model to reconcile the mixed findings with regard to the relationship between TMT gender composition and enterprise innovation using the data from 187 listed electronic firms in China during the period of 2012–2016. The results indicate that the significant three‐threshold effect does exist with performing the “N” correlation between TMT gender diversity and innovation. The optimal threshold intervals of TMT gender structure in national, coastal, and inland enterprises are [1/4, 3/10], [1/5, 1/3], and [1/10, 1/6], respectively.

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“…In studying FDI’s impact on technological innovation in China’s provinces, this paper combines many scholars’ results and presumes that innovation can be regarded as the output process of new knowledge [ 47 , 48 , 49 ]. Therefore, our empirical analysis considers the technological innovation equation of the following basic functional form according to the studies of Hu [ 50 ], Abdouli and Hammami [ 39 ], and Crescenzi et al [ 51 ]:

where

represents technological innovation, and

, and

represent, respectively, the gross domestic product, the research and development expenditures, the number of employees in the science and technology-oriented industries, and foreign direct investment.…”

Section: Empirical Strategy and Datamentioning

confidence: 99%

Foreign Direct Investment’s Impact on China’s Economic Growth, Technological Innovation and Pollution

Zeng

2021

IJERPH

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In recent years, China has gradually become one of the countries with the largest levels of foreign direct investment (FDI). FDI has played a significant role in promoting Chinese economic development, and the FDI technology spillover effect is one of the core forces driving China towards reaching new growth milestones. Therefore, due to the country’s interest in development, there is competition for FDI throughout China. However, the existing imperfect environmental protection system cannot prevent FDI from flowing into China’s highly polluting and resource-intensive industrial chain, possibly causing serious environmental problems. Therefore, the topic of properly introducing foreign capital to promote development and effectively end China’s current environmental pollution crisis has become a research focus. To explore FDI’s impact on China’s economic growth, technological innovation, and environmental pollution, we use Chinese provincial panel data for 2004–2016 to construct a dynamic panel simultaneous-equation model. Considering the interrelationships between the equations, we construct economic models of economic growth, technological innovation, and pollution emissions, and incorporate them into the same research system for generalized method of moments (GMM) estimation. Our results show that FDI has a significant and positive direct impact on China’s economic growth and technological innovation, and can furthermore have a significant pull effect on the domestic economy through the backward spillover channel. At the same time, FDI has a direct and significant impact on the increase in regional waste-water discharge, while exhibiting a pollution halo effect on the emission of sulfur dioxide (SO2) and chemical oxygen demand (COD) emissions directly. In addition, we observe “benign feedback mechanism” between technological innovation output and these three types of pollution, namely SO2 emission, COD emissions, and ammonia and nitrogen discharge.

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Venture capital and innovation in China: The non-linear evidence

Cited by 43 publications

References 74 publications

The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

The Non-Linear Effect of Financial Support on Energy Efficiency: Evidence from China

Threshold effect of gender composition in the top management team on firm innovation: New evidence from China

Foreign Direct Investment’s Impact on China’s Economic Growth, Technological Innovation and Pollution

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