IDEAS home Printed from https://ideas.repec.org/a/ajp/edwast/v9y2025i4p2782-2793id6652.html
   My bibliography  Save this article

The impact of different sources of science and technology finance on the innovation capability of high-tech industries in China

Author

Listed:
  • Yuan Haixin
  • Alexander A. Hernandez

Abstract

This study examines the impact of science and technology (S&T) finance inputs on the innovation capability of China’s high-tech industries. Using panel data from 30 Chinese regions (2013–2022), the research employs the Entropy Weight-TOPSIS method to measure innovation capability and a fixed-effects model to analyze four financing channels: government funding, bank loans, venture capital, and capital market financing. Results show that all channels positively influence innovation, with capital market financing having the strongest effect (coefficient: 1.309), followed by government funding (0.514), venture capital (0.153), and bank loans (0.009). Regional disparities highlight higher innovation capability in eastern China. The findings suggest optimizing S&T finance policies to enhance innovation, emphasizing capital markets for mature firms and government support for early-stage ventures.

Suggested Citation

  • Yuan Haixin & Alexander A. Hernandez, 2025. "The impact of different sources of science and technology finance on the innovation capability of high-tech industries in China," Edelweiss Applied Science and Technology, Learning Gate, vol. 9(4), pages 2782-2793.
    • Handle: RePEc:ajp:edwast:v:9:y:2025:i:4:p:2782-2793:id:6652
    as

    Download full text from publisher

    File URL: https://learning-gate.com/index.php/2576-8484/article/view/6652/2354
    Download Restriction: no
    ---><---

    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:ajp:edwast:v:9:y:2025:i:4:p:2782-2793:id:6652. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Melissa Fernandes (email available below). General contact details of provider: https://learning-gate.com/index.php/2576-8484/ .

    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.