Substantial innovation or strategic innovation? The impact of government venture capital guidance funds on corporate innovation

被引：0

作者：

Saci, Fateh ^{[1
]}

Ahmad, Mohamad ^{[2
]}

机构：

[1] Univ Montpellier, Montpellier Res Management, Rue Vendemiaire,CS 19519, F-34960 Montpellier 2, Occitanie, France

[2] Univ Paris Pantheon Assas, Paris, France

来源：

STRATEGIC CHANGE-BRIEFINGS IN ENTREPRENEURIAL FINANCE | 2024年 / 33卷 / 05期

关键词：

corporate innovation; fund; government guidance; patent; strategic innovation; substantial innovation; START-UPS; MODEL; ALLIANCE; MARKET; POLICY;

D O I：

10.1002/jsc.2583

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Based on a dual-differential model of the number of patent applications issued by A-share enterprises from 2014 to 2019, this article analyzes impact of Venture Capital (VC) guided by government on company's innovation and their internal mechanisms. The results show that the number of patent applications increases after enterprises are invested directly or indirectly by the government guiding fund, indicating that this kind of VC has a positive guidance on enterprise innovation. However, after further studying by subdividing patent types, it is found that enterprises pay less attention to invention patents, which hold higher technical requirements, and focus on "quantity" rather than "quality" in patent applications. This result also reflects that the investment of VC guided by government promotes the overall enterprise innovation, but the positive effect on the innovation quality is not significant. Our article not only affirms the positive influence of VC guided by government on enterprise innovation, but also puts forward some suggestions on the management of government guiding fund.

引用

页码：345 / 353

页数：9

共 50 条

[1] THE IMPACT OF GOVERNMENT SPONSORED VENTURE CAPITAL FUNDS' ON INNOVATION IN LITHUANIA
Snieska, Vytautas
Venckuviene, Vitalija
[J]. 7TH INTERNATIONAL SCIENTIFIC CONFERENCE BUSINESS AND MANAGEMENT 2012, 2012, : 1208 - 1215
[2] Can government venture capital guidance funds promote urban innovation? Evidence from China
Yang, Siying
Ma, Shunyu
Lu, Jingjing
[J]. GROWTH AND CHANGE, 2022, 53 (02) : 753 - 770
[3] Exploring the innovation strategies of young firms: Corporate venture capital and venture capital impact on alliance innovation strategy
Galloway, Tera L.
Miller, Douglas R.
Sahaym, Arvin
Arthurs, Jonathan D.
[J]. JOURNAL OF BUSINESS RESEARCH, 2017, 71 : 55 - 65
[4] Corporate venture capital and the nature of innovation
Maxin, Hannes
[J]. ECONOMICS OF INNOVATION AND NEW TECHNOLOGY, 2020, 29 (01) : 1 - 30
[5] Venture capital, internationalization strategy and corporate innovation
Zheng, Xiyue
Wang, Fusheng
Zhang, Dongchao
[J]. JOURNAL OF BUSINESS & INDUSTRIAL MARKETING, 2024,
[6] Corporate venture capital portfolios and firm innovation
Wadhwa, Anu
Phelps, Corey
Kotha, Suresh
[J]. JOURNAL OF BUSINESS VENTURING, 2016, 31 (01) : 95 - 112
[7] Corporate Venture Capital, Value Creation, and Innovation
Chemmanur, Thomas J.
Loutskina, Elena
Tian, Xuan
[J]. REVIEW OF FINANCIAL STUDIES, 2014, 27 (08): : 2434 - 2473
[8] Research on The Impact of Venture Capital on Technology Innovation Based on The Corporate Governance
Lu, Zhijian
Shen, Yiwen
[J]. 2011 INTERNATIONAL CONFERENCE ON INTELLIGENT COMPUTATION AND INDUSTRIAL APPLICATION (ICIA2011), VOL III, 2011, : 501 - 504
[9] Research on The Impact of Venture Capital on Technology Innovation Based on The Corporate Governance
Lu, Zhijian
Shen, Yiwen
[J]. 2010 SECOND INTERNATIONAL CONFERENCE ON E-LEARNING, E-BUSINESS, ENTERPRISE INFORMATION SYSTEMS, AND E-GOVERNMENT (EEEE 2010), VOL II, 2010, : 126 - 129
[10] Government innovation awards, innovation funds acquisition and enterprise innovation
Li, Yunjian
Chen, Jiawen
Li, Li
Huang, Xiaojun
[J]. ECONOMIC ANALYSIS AND POLICY, 2024, 82 : 846 - 864

← 1 2 3 4 5 →