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The effect of state-owned venture capital on enterprise innovation: Evidence from China

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Listed:
  • Yu, Chenyang
  • Wang, Mengke
  • Fu, Changluan
  • Song, Jinbo

Abstract

Venture capital (VC) funded by state-owned enterprises constitutes a significant component of China's state-owned capital (SOC) investment. This paper empirically investigates the impact of state-owned venture capital (SOVC) on enterprise innovation and identifies that SOVC exerts a more pronounced influence on enhancing enterprise innovation capability. SOVC facilitates the enhancement of enterprise innovation capability by alleviating financial constraints, fostering joint investments, and attracting technical talents. This paper not only aids in identifying effective approaches to advance SOC reform but also contributes to enhancing enterprise innovation capability through the utilization of SOC.

Suggested Citation

  • Yu, Chenyang & Wang, Mengke & Fu, Changluan & Song, Jinbo, 2024. "The effect of state-owned venture capital on enterprise innovation: Evidence from China," Finance Research Letters, Elsevier, vol. 67(PA).
    • Handle: RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008341
    DOI: 10.1016/j.frl.2024.105804
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    References listed on IDEAS

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