Economics, Econometrics and Finance
8 years ago

Government Subsidies Boost Innovation Financing for Chinese Companies

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The Journal of Financial Research
On the Selection of Innovation Financing Resources:Based on the Financing Structure and the Innovation of Listed-company in China
Zuo Jingjin

Paper Summary

Chinese listed companies prefer external financing for innovation, with government subsidies and equity financing having the most positive impact on research and development (RD) investment. Debt financing, on the other hand, does not significantly influence innovation. Government subsidies can enhance RD investment through debt financing, promoting enterprise innovation and capital market development in China.

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