IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v203y2024ics0040162524001471.html
   My bibliography  Save this article

Beyond funding: The moderating role of firms' R&D human capital on government support and venture capital for regional innovation in China

Author

Listed:
  • Edeh, Jude
  • Prévot, Frédéric

Abstract

Technological innovation is a cornerstone of economic growth. It is a crucial determinant of regions' competitiveness, especially for rapidly developing emerging economies. Past research remained inconclusive on whether venture capital and government subsidies to firms have a significant effect on innovation performance at the regional level. In this article, we show the determining role of investment by firms in R&D human capital. We use panel data from 31 provinces in China, covering the period 1999–2015. The results reveal that government support for firms and venture capital do not have a significant direct impact on regional innovation performance. This effect is strongly moderated by R&D human capital. The findings of this study offer practical implications for policymakers and private investors, guiding them on how to maximize the efficiency of their R&D investments for regional economic growth. They also show the importance of investment in R&D human capital for the management of technology and innovation at the firm level.

Suggested Citation

  • Edeh, Jude & Prévot, Frédéric, 2024. "Beyond funding: The moderating role of firms' R&D human capital on government support and venture capital for regional innovation in China," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    • Handle: RePEc:eee:tefoso:v:203:y:2024:i:c:s0040162524001471
    DOI: 10.1016/j.techfore.2024.123351
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162524001471
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2024.123351?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
    2. Arthur Lewbel, 2012. "Using Heteroscedasticity to Identify and Estimate Mismeasured and Endogenous Regressor Models," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 30(1), pages 67-80.
    3. Valerio Mendoza, Octasiano Miguel & Borsi, Mihály Tamás & Comim, Flavio, 2022. "Human capital dynamics in China: Evidence from a club convergence approach," Journal of Asian Economics, Elsevier, vol. 79(C).
    4. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    5. Fernández-Sastre, Juan & Montalvo-Quizhpi, Fernando, 2019. "The effect of developing countries' innovation policies on firms' decisions to invest in R&D," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 214-223.
    6. Cindy Zoghi & Robert D. Mohr & Peter B. Meyer, 2010. "Workplace organization and innovation," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 43(2), pages 622-639, May.
    7. Benjamin F. Jones & Lawrence H. Summers, 2020. "A Calculation of the Social Returns to Innovation," NBER Chapters, in: Innovation and Public Policy, pages 13-59, National Bureau of Economic Research, Inc.
    8. Shiferaw Gurmu & Fidel Pérez-Sebastián, 2008. "Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms," Empirical Economics, Springer, vol. 35(3), pages 507-526, November.
    9. Pedro Marques & Kevin Morgan, 2021. "Innovation without Regional Development? The Complex Interplay of Innovation, Institutions, and Development," Economic Geography, Taylor & Francis Journals, vol. 97(5), pages 475-496, October.
    10. Yannis Pierrakis & George Saridakis, 2019. "The role of venture capitalists in the regional innovation ecosystem: a comparison of networking patterns between private and publicly backed venture capital funds," The Journal of Technology Transfer, Springer, vol. 44(3), pages 850-873, June.
    11. Carlsson, Bo & Jacobsson, Staffan & Holmen, Magnus & Rickne, Annika, 2002. "Innovation systems: analytical and methodological issues," Research Policy, Elsevier, vol. 31(2), pages 233-245, February.
    12. Guo, Di & Guo, Yan & Jiang, Kun, 2016. "Government-subsidized R&D and firm innovation: Evidence from China," Research Policy, Elsevier, vol. 45(6), pages 1129-1144.
    13. Fonseca, Tiago & de Faria, Pedro & Lima, Francisco, 2019. "Human capital and innovation: the importance of the optimal organizational task structure," Research Policy, Elsevier, vol. 48(3), pages 616-627.
    14. Bengt-Åke Lundvall, 2007. "National Innovation Systems—Analytical Concept and Development Tool," Industry and Innovation, Taylor & Francis Journals, vol. 14(1), pages 95-119.
    15. Fu, Yuming & Gabriel, Stuart A., 2012. "Labor migration, human capital agglomeration and regional development in China," Regional Science and Urban Economics, Elsevier, vol. 42(3), pages 473-484.
    16. Rodríguez-Pose, Andrés & Zhang, Min, 2020. "The cost of weak institutions for innovation in China," Technological Forecasting and Social Change, Elsevier, vol. 153(C).
    17. Dushnitsky, Gary & Yu, Lei, 2022. "Why do incumbents fund startups? A study of the antecedents of corporate venture capital in China," Research Policy, Elsevier, vol. 51(3).
    18. Mayer-Foulkes, David, 2008. "The Human Development Trap in Mexico," World Development, Elsevier, vol. 36(5), pages 775-796, May.
    19. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
    20. Chung, Leanne & Tan, Kim Hua, 2017. "The unique chinese innovation pathways: Lessons from chinese small and mediuem sized manufacturing firms," International Journal of Production Economics, Elsevier, vol. 190(C), pages 80-87.
    21. Cindy Zoghi & Robert D. Mohr & Peter B. Meyer, 2010. "Workplace organization and innovation," Canadian Journal of Economics, Canadian Economics Association, vol. 43(2), pages 622-639, May.
    22. Elisa Thomas & Kadigia Faccin & Bjørn Terje Asheim, 2021. "Universities as orchestrators of the development of regional innovation ecosystems in emerging economies," Growth and Change, Wiley Blackwell, vol. 52(2), pages 770-789, June.
    23. Engel, Dirk & Keilbach, Max, 2007. "Firm-level implications of early stage venture capital investment -- An empirical investigation," Journal of Empirical Finance, Elsevier, vol. 14(2), pages 150-167, March.
    24. John C. Driscoll & Aart C. Kraay, 1998. "Consistent Covariance Matrix Estimation With Spatially Dependent Panel Data," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 549-560, November.
    25. Sergio Afcha & Abel Lucena, 2022. "R&D subsidies and firm innovation: does human capital matter?," Industry and Innovation, Taylor & Francis Journals, vol. 29(10), pages 1171-1201, November.
    26. Morosini, Piero, 2004. "Industrial Clusters, Knowledge Integration and Performance," World Development, Elsevier, vol. 32(2), pages 305-326, February.
    27. Stefano Caselli & Stefano Gatti & Francesco Perrini, 2009. "Are Venture Capitalists a Catalyst for Innovation?," European Financial Management, European Financial Management Association, vol. 15(1), pages 92-111, January.
    28. Edeh, Jude N. & Acedo, Francisco J., 2021. "External supports, innovation efforts and productivity: Estimation of a CDM model for small firms in developing countries," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    29. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 2000. "Is public R&D a complement or substitute for private R&D? A review of the econometric evidence," Research Policy, Elsevier, vol. 29(4-5), pages 497-529, April.
    30. TIAN, Xiaoli & KOU, Gang & ZHANG, Weike, 2020. "Geographic distance, venture capital and technological performance: Evidence from Chinese enterprises," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    31. Zhou, Xiaoxiao & Cai, Ziming & Tan, Kim Hua & Zhang, Linling & Du, Juntao & Song, Malin, 2021. "Technological innovation and structural change for economic development in China as an emerging market," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    32. Lenihan, Helena & McGuirk, Helen & Murphy, Kevin R., 2019. "Driving innovation: Public policy and human capital," Research Policy, Elsevier, vol. 48(9), pages 1-1.
    33. Liu, Xiaohui & Hodgkinson, Ian R. & Chuang, Fu-Mei, 2014. "Foreign competition, domestic knowledge base and innovation activities: Evidence from Chinese high-tech industries," Research Policy, Elsevier, vol. 43(2), pages 414-422.
    34. Richard Florida & Charlotta Mellander & Kevin Stolarick, 2008. "Inside the black box of regional development: human capital, the creative class and tolerance," Journal of Economic Geography, Oxford University Press, vol. 8(5), pages 615-649, September.
    35. Choi, Joonhwan & Lee, Jaegul, 2017. "Repairing the R&D market failure: Public R&D subsidy and the composition of private R&D," Research Policy, Elsevier, vol. 46(8), pages 1465-1478.
    36. Husam Wahdan & Zeng Rui Tian, 2022. "Assessing the Efficiency of Venture Capital Functioning in the Transforming Economy in UAE and China by a Mathematical Model," SAGE Open, , vol. 12(1), pages 21582440211, January.
    37. Venkataraman, Sankaran, 2004. "Regional transformation through technological entrepreneurship," Journal of Business Venturing, Elsevier, vol. 19(1), pages 153-167, January.
    38. Mewes, Lars & Broekel, Tom, 2022. "Technological complexity and economic growth of regions," Research Policy, Elsevier, vol. 51(8).
    39. George Martinidis, 2017. "The Importance of Man Within the System: Defining and Measuring the Human Factor in Innovation, a Review," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(2), pages 638-652, June.
    40. Spithoven, André & Teirlinck, Peter, 2015. "Internal capabilities, network resources and appropriation mechanisms as determinants of R&D outsourcing," Research Policy, Elsevier, vol. 44(3), pages 711-725.
    41. Yu, Feifei & Guo, Yue & Le-Nguyen, Khuong & Barnes, Stuart J. & Zhang, Weiting, 2016. "The impact of government subsidies and enterprises’ R&D investment: A panel data study from renewable energy in China," Energy Policy, Elsevier, vol. 89(C), pages 106-113.
    42. Lars Leszczensky & Tobias Wolbring, 2022. "How to Deal With Reverse Causality Using Panel Data? Recommendations for Researchers Based on a Simulation Study," Sociological Methods & Research, , vol. 51(2), pages 837-865, May.
    43. Baum, Joel A. C. & Silverman, Brian S., 2004. "Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups," Journal of Business Venturing, Elsevier, vol. 19(3), pages 411-436, May.
    44. Zhao, Shukuan & Xu, Baoda & Zhang, Weiyong, 2018. "Government R&D subsidy policy in China: An empirical examination of effect, priority, and specifics," Technological Forecasting and Social Change, Elsevier, vol. 135(C), pages 75-82.
    45. Lichtenberg, Frank R, 1987. "The Effect of Government Funding on Private Industrial Research and Development: A Re-assessment," Journal of Industrial Economics, Wiley Blackwell, vol. 36(1), pages 97-104, September.
    46. Dimos, Christos & Pugh, Geoff, 2016. "The effectiveness of R&D subsidies: A meta-regression analysis of the evaluation literature," Research Policy, Elsevier, vol. 45(4), pages 797-815.
    47. Daniel Hoechle, 2007. "Robust standard errors for panel regressions with cross-sectional dependence," Stata Journal, StataCorp LP, vol. 7(3), pages 281-312, September.
    48. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
    49. Deng, Haiyan & Hu, Ruifa & Pray, Carl & Jin, Yanhong, 2019. "Impact of government policies on private R&D investment in agricultural biotechnology: Evidence from chemical and pesticide firms in China," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 208-215.
    50. Martin, Stephen & Scott, John T., 2000. "The nature of innovation market failure and the design of public support for private innovation," Research Policy, Elsevier, vol. 29(4-5), pages 437-447, April.
    51. Bruce A. Kirchhoff, 1992. "Entrepreneurship's Contribution to Economics," Entrepreneurship Theory and Practice, , vol. 16(2), pages 93-112, January.
    52. Zhang, Dongyang & Guo, Yumei, 2019. "Financing R&D in Chinese private firms: Business associations or political connection?," Economic Modelling, Elsevier, vol. 79(C), pages 247-261.
    53. Cristina Fernandes & Luís Farinha & João J. Ferreira & Björn Asheim & Roel Rutten, 2021. "Regional innovation systems: what can we learn from 25 years of scientific achievements?," Regional Studies, Taylor & Francis Journals, vol. 55(3), pages 377-389, March.
    54. Li, Jing & Chen, Dong & Shapiro, Daniel M., 2013. "FDI Spillovers at the National and Subnational Level: The Impact on Product Innovation by Chinese Firms," Management and Organization Review, Cambridge University Press, vol. 9(3), pages 413-435, November.
    55. Mishra, Chandra S., 2022. "Does institutional ownership discourage investment in corporate R&D?," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    56. David M. Blank & George J. Stigler, 1957. "The Demand and Supply of Scientific Personnel," NBER Books, National Bureau of Economic Research, Inc, number blan57-1, June.
    57. Gary S. Becker, 1964. "Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education, First Edition," NBER Books, National Bureau of Economic Research, Inc, number beck-5, June.
    58. Lerner, Josh, 2012. "The Architecture of Innovation: The Economics of Creative Organizations," OUP Catalogue, Oxford University Press, number 9780199639892.
    59. Faria, Ana Paula & Barbosa, Natália, 2014. "Does venture capital really foster innovation?," Economics Letters, Elsevier, vol. 122(2), pages 129-131.
    60. G. Martinidis & N. Komninos & E. Carayannis, 2022. "Taking into Account the Human Factor in Regional Innovation Systems and Policies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 849-879, June.
    61. Gu, Wentao & Qian, Xuzheng, 2019. "Does venture capital foster entrepreneurship in an emerging market?," Journal of Business Research, Elsevier, vol. 101(C), pages 803-810.
    62. Li, Jing & Chen, Dong & Shapiro, Daniel M., 2013. "FDI Spillovers at the National and Subnational Level: The Impact on Product Innovation by Chinese Firms," Management and Organization Review, Cambridge University Press, pages 413-436.
    63. Wu, Long & Xu, Lei, 2020. "The role of venture capital in SME loans in China," Research in International Business and Finance, Elsevier, vol. 51(C).
    64. Wellalage, Nirosha Hewa & Fernandez, Viviana, 2019. "Innovation and SME finance: Evidence from developing countries," International Review of Financial Analysis, Elsevier, vol. 66(C).
    65. Wang, Zhaoxing & He, Qile & Xia, Senmao & Sarpong, David & Xiong, Ailun & Maas, Gideon, 2020. "Capacities of business incubator and regional innovation performance," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    66. Tingting Yu & Ah Rong & Feilong Hao, 2022. "Avoiding the middle‐income trap: The spatial–temporal effects of human capital on regional economic growth in Northeast China," Growth and Change, Wiley Blackwell, vol. 53(2), pages 536-558, June.
    67. Garcia Martinez, Marian & Zouaghi, Ferdaous & Sanchez Garcia, Mercedes, 2017. "Capturing value from alliance portfolio diversity: The mediating role of R&D human capital in high and low tech industries," Technovation, Elsevier, vol. 59(C), pages 55-67.
    68. Paul Gompers & Josh Lerner, 2001. "The Venture Capital Revolution," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 145-168, Spring.
    69. Faems, Dries & Subramanian, Annapoornima M., 2013. "R&D manpower and technological performance: The impact of demographic and task-related diversity," Research Policy, Elsevier, vol. 42(9), pages 1624-1633.
    70. J. Elhorst, 2010. "Applied Spatial Econometrics: Raising the Bar," Spatial Economic Analysis, Taylor & Francis Journals, vol. 5(1), pages 9-28.
    71. Cailou, Jiang & DeHai, Liu, 2022. "Does venture capital stimulate the innovation of China's new energy enterprises?," Energy, Elsevier, vol. 244(PA).
    72. Boeing, Philipp, 2016. "The allocation and effectiveness of China’s R&D subsidies - Evidence from listed firms," Research Policy, Elsevier, vol. 45(9), pages 1774-1789.
    73. Ejdemo, Thomas & Örtqvist, Daniel, 2020. "Related variety as a driver of regional innovation and entrepreneurship: A moderated and mediated model with non-linear effects," Research Policy, Elsevier, vol. 49(7).
    74. Yang, Zhenbing & Shao, Shuai & Li, Chengyu & Yang, Lili, 2020. "Alleviating the misallocation of R&D inputs in China's manufacturing sector: From the perspectives of factor-biased technological innovation and substitution elasticity," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    75. Chao Liu & Guanjun Xia, 2018. "Research on the Dynamic Interrelationship among R&D Investment, Technological Innovation, and Economic Growth in China," Sustainability, MDPI, vol. 10(11), pages 1-19, November.
    76. Yigitcanlar, Tan & Sabatini-Marques, Jamile & da-Costa, Eduardo Moreira & Kamruzzaman, Md & Ioppolo, Giuseppe, 2019. "Stimulating technological innovation through incentives: Perceptions of Australian and Brazilian firms," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 403-412.
    77. Jing Li & Dong Chen & Daniel M. Shapiro, 2013. "FDI Spillovers at the National and Subnational Level: The Impact on Product Innovation by Chinese Firms. 外国直接投资在国家及地区层面的溢出效应：对中国企业产品创新的影响," Management and Organization Review, The International Association for Chinese Management Research, vol. 9(3), pages 413-435, November.
    78. Lionel Nesta & Vincent Mangematin, 1999. "What kind of Knowledge can a firm absorb?," Grenoble Ecole de Management (Post-Print) hal-03471555, HAL.
    79. Kai Jia & Martin Kenney, 2022. "The Chinese platform business group: an alternative to the Silicon Valley model?," Journal of Chinese Governance, Taylor & Francis Journals, vol. 7(1), pages 58-80, January.
    80. Li, Fengshu & Andries, Petra & Pellens, Maikel & Xu, Jianzhong, 2021. "The importance of large firms for generating economic value from subsidized technological innovation: A regional perspective," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    81. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    82. Anker Lund Vinding, 2006. "Absorptive capacity and innovative performance: A human capital approach," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 507-517.
    83. Dai, Xiaoyong & Cheng, Liwei, 2015. "The effect of public subsidies on corporate R&D investment: An application of the generalized propensity score," Technological Forecasting and Social Change, Elsevier, vol. 90(PB), pages 410-419.
    84. He, Yiqing & Ding, Xin & Yang, Chuchu, 2021. "Do environmental regulations and financial constraints stimulate corporate technological innovation? Evidence from China," Journal of Asian Economics, Elsevier, vol. 72(C).
    85. Guan, JianCheng & Yam, Richard C.M., 2015. "Effects of government financial incentives on firms’ innovation performance in China: Evidences from Beijing in the 1990s," Research Policy, Elsevier, vol. 44(1), pages 273-282.
    86. Sun, Sunny Li & Chen, Victor Z. & Sunny, Sanwar A. & Chen, Jie, 2019. "Venture capital as an innovation ecosystem engineer in an emerging market," International Business Review, Elsevier, vol. 28(5), pages 1-1.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shuang Wang & Shukuan Zhao & Dong Shao & Hongyu Liu, 2020. "Impact of Government Subsidies on Manufacturing Innovation in China: The Moderating Role of Political Connections and Investor Attention," Sustainability, MDPI, vol. 12(18), pages 1-21, September.
    2. Xing Shi & Yanrui Wu & Dahai Fu & Xiumei Guo & Huaqing Wu, 2019. "Effects of National Science and Technology Programs on Innovation in Chinese Firms," Asian Economic Papers, MIT Press, vol. 18(1), pages 207-236, Winter/Sp.
    3. Chen, Jin & Heng, Cheng Suang & Tan, Bernard C.Y. & Lin, Zhijie, 2018. "The distinct signaling effects of R&D subsidy and non-R&D subsidy on IPO performance of IT entrepreneurial firms in China," Research Policy, Elsevier, vol. 47(1), pages 108-120.
    4. repec:idn:journl:v:21:y:2019:i:3g:p:1-22 is not listed on IDEAS
    5. Kou, Mingting & Yang, Yuanqi & Chen, Kaihua, 2020. "The impact of external R&D financing on innovation process from a supply-demand perspective," Economic Modelling, Elsevier, vol. 92(C), pages 375-387.
    6. Lee, Jeongwon & Hwang, Junseok & Kim, Hana, 2022. "Different government support effects on emerging and mature ICT sectors," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    7. Chen, Yu & Wang, Yuandi & Hu, Die & Zhou, Zhao, 2020. "Government R&D subsidies, information asymmetry, and the role of foreign investors: Evidence from a quasi-natural experiment on the shanghai-hong kong stock connect," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    8. Wen, Jun & Yang, Di & Feng, Gen-Fu & Dong, Minyi & Chang, Chun-Ping, 2018. "Venture capital and innovation in China: The non-linear evidence," Structural Change and Economic Dynamics, Elsevier, vol. 46(C), pages 148-162.
    9. Gu, Jing & Zhang, Fujuan & Xu, Xun & Xue, Chaokai, 2023. "Stay or switch? The impact of venture capitalists' movement across network communities on enterprises’ innovation performance," Technovation, Elsevier, vol. 125(C).
    10. Chen, Tao & Park, Hyeyoun & Rajwani, Tazeeb, 2024. "Diverse human resource slack and firm innovation: Evidence from politically connected firms," International Business Review, Elsevier, vol. 33(2).
    11. He, Siyi & Liu, Jinsong & Ying, Qianwei, 2023. "Externalities of government-oriented support for innovation: Evidence from the national innovative city pilot policy in China," Economic Modelling, Elsevier, vol. 128(C).
    12. Thomas H. W. Ziesemer, 2021. "The Effects of R&D Subsidies and Publicly Performed R&D on Business R&D: A Survey," Hacienda Pública Española / Review of Public Economics, IEF, vol. 236(1), pages 171-205, March.
    13. Rudra P. Pradhan & Rana P. Maradana & Danish B. Zaki & Saurav Dash & Manju Jayakumar & Kunal Gaurav, 2017. "Venture Capital and Innovation: Evidence from European Economic Area Countries," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(06), pages 1-30, December.
    14. Gao, Yuchen & Hu, Yimei & Liu, Xielin & Zhang, Huanren, 2021. "Can public R&D subsidy facilitate firms’ exploratory innovation? The heterogeneous effects between central and local subsidy programs," Research Policy, Elsevier, vol. 50(4).
    15. Ren, Shenggang & Sun, Helin & Zhang, Tao, 2021. "Do environmental subsidies spur environmental innovation? Empirical evidence from Chinese listed firms," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    16. Guo, Di & Guo, Yan & Jiang, Kun, 2018. "Governance and effects of public R&D subsidies: Evidence from China," Technovation, Elsevier, vol. 74, pages 18-31.
    17. Sun, Sunny Li & Chen, Victor Z. & Sunny, Sanwar A. & Chen, Jie, 2019. "Venture capital as an innovation ecosystem engineer in an emerging market," International Business Review, Elsevier, vol. 28(5), pages 1-1.
    18. Hu, Yefei & Liu, Dayong, 2022. "Government as a non-financial participant in innovation: How standardization led by government promotes regional innovation performance in China," Technovation, Elsevier, vol. 114(C).
    19. Wang, Yanbo & Li, Jizhen & Furman, Jeffrey L., 2017. "Firm performance and state innovation funding: Evidence from China’s innofund program," Research Policy, Elsevier, vol. 46(6), pages 1142-1161.
    20. Beck, Mathias & Junge, Martin & Kaiser, Ulrich, 2017. "Public Funding and Corporate Innovation," IZA Discussion Papers 11196, Institute of Labor Economics (IZA).
    21. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:203:y:2024:i:c:s0040162524001471. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.