RESEARCH ON POLICY-BASED FINANCIAL SUPPORT FOR TECHNOLOGY INNOVATION OF CHINESE ADVANCED MANUFACTURERS

Through literature research, theoretical research and empirical research, this paper focuses on key issues such as what role policy-based finance can play in enterprises' technology innovation, how to play the role, and existing shortcomings and constraints. Policy-based finance refers to the financial means adopted by a country's government in order to achieve specific policy objectives such as industrial policies, that is, giving preferential treatment in terms of interest rates, loan terms, guarantee conditions, etc., and selectively funding with a view to cultivating specific strategic industries. In 2015, in order to promote the development of the manufacturing industry, China released the 2015-2025 Strategic Top-level Plan for China's Manufacturing Industry (the "Made in China 2025" strategy). According to the ten key areas in the "Made in China 2025" strategy, this paper selects listed companies in the advanced manufacturing industry on China's RMB common stock market during 2011 to 2019 as a sample, and empirically analyzes the role of policy-based finance in supporting enterprise technology innovation input and output. Meanwhile, this paper examines whether enterprise heterogeneity, including property right nature, enterprise size, and enterprise age, significantly impacts policy-based financial support for enterprise innovation, so as to analyze policy-based financial support for different types of enterprises.

Grantor dc:publisher

Temple University. Libraries

Year dc:date.issued

2023

Author dc:creator

• Zhang, Guoqiang

Advisor dc:contributor.advisor

• Bakshi, Gurdip

Committee members dc:contributor.committeemember

• Grace, Martin Francis, 1958-
• Gao Bakshi, Xiaohui
• Kong, Guangwen

• Finance
• Policy finance

Statement dc:rights

• IN COPYRIGHT- This Rights Statement can be used for an Item that is in copyright. Using this statement implies that the organization making this Item available has determined that the Item is in copyright and either is the rights-holder, has obtained permission from the rights-holder(s) to make their Work(s) available, or makes the Item available under an exception or limitation to copyright (including Fair Use) that entitles it to make the Item available.

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/20.500.12613/8447

OAI identifier oai:identifier

oai:scholarshare.temple.edu:20.500.12613/8447