The study looked at how different ways companies get money affect their ability to come up with new ideas and grow. They used data from Chinese companies between 2008 and 2017. They found that things like government help, using their own money, and selling shares can help companies be more innovative. But getting loans from banks can actually make it harder for companies to come up with new things. The impact of these money sources changes as companies grow older. Non-government companies are more affected by these money sources than government ones. Each money source has a sweet spot where it helps the most, not too little and not too much. This research helps us understand how different money sources can help or hurt a company's ability to be creative and grow.