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Sci-Tech finance pilot policies, property rights protection and enterprise innovation

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  • Cao, Yibo

Abstract

In the context of building an innovative nation, the advantages of the Sci-Tech Finance Pilot Policy are becoming increasingly evident, as it boosts corporate innovation. Using financial data from China's A-share listed companies between 2009 and 2021, we examine the impact of Sci-Tech finance pilot policies on firms' innovation capabilities. The results indicate that the integration of science, technology, and finance significantly enhances corporate innovation, with a more pronounced effect in state-owned enterprises. Furthermore, intellectual property protection serves as a mediating factor between the two.

Suggested Citation

  • Cao, Yibo, 2025. "Sci-Tech finance pilot policies, property rights protection and enterprise innovation," Finance Research Letters, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325010141
    DOI: 10.1016/j.frl.2025.107756
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    References listed on IDEAS

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    1. Dominique Guellec & Bruno Van Pottelsberghe De La Potterie, 2003. "The impact of public R&D expenditure on business R&D," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(3), pages 225-243.
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    3. Gong, Min & Ou, Weimin & Zhang, Fan, 2025. "Economic uncertainty and ‘short-term debt for long-term investment’ in energy firms: Evidence from China," Energy Economics, Elsevier, vol. 143(C).
    4. Chen, Hung-Ju, 2021. "Innovation and FDI: Does the target of intellectual property rights protection matter?," Journal of International Money and Finance, Elsevier, vol. 118(C).
    5. Gong, Min & Zeng, Yidi & Zhang, Fan, 2023. "New infrastructure, optimization of resource allocation and upgrading of industrial structure," Finance Research Letters, Elsevier, vol. 54(C).
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    Cited by:

    1. Yan, Yufei & Tan, Linfang & Peng, Junxian, 2025. "Restraint or guidance? The impact of institutional investors' herding behavior on firm innovation," Finance Research Letters, Elsevier, vol. 85(PE).

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