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Financing Ecological Environment, Financing Capacity and R&D Investment: An Empirical Study on Listed Companies of New Material Industry in China

Author

Listed:
  • Wen Xiong
  • Chengxuan Geng

Abstract

Introducing the concept of financing ecology into the research of new material enterprises¡¯ R&D investment, and taking 203 Chinese listed companies of new material industry from 2010 to 2015 as the research objects, this paper explores the relationship between financing ecological environment, new material enterprises¡¯ financing ability and R&D investment. The study shows that: Financing ecological environment has significant influence on new material enterprises¡¯ R&D investment; Specifically, two sub dimensions of economics and finance have positive effects, while the sub dimension of system and honesty has negative effects; The promotion of financing capacity helps new material enterprises to increase R&D investment; Financing capability plays a positive intermediary role between financing ecological environment and R&D investment. Accordingly, new material enterprises should promote adaptive coevolution between financing ability, R&D funds allocation and financing ecology, and fully use the support of policy system.

Suggested Citation

  • Wen Xiong & Chengxuan Geng, 2017. "Financing Ecological Environment, Financing Capacity and R&D Investment: An Empirical Study on Listed Companies of New Material Industry in China," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(11), pages 10-21, November.
    • Handle: RePEc:ibn:ijefaa:v:9:y:2017:i:11:p:10-21
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financing ecological environment; financing capacity; R&D investment; new material enterprises; TOPSIS;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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