The Impact of Commercial Credit on Firm Innovation: Evidence from Chinese A-Share Listed Companies

被引：11
|
作者：
Liu, Tinghua [1 ]
Wang, Jingru [1 ]
Rathnayake, Dilesha Nawadali [1 ]
Louembe, Pierre Axel [2 ]
机构：
[1] Shandong Univ Technol, Sch Econ, Zibo 255012, Peoples R China
[2] Dongbei Univ Finance & Econ, Sch Accounting, Dalian 116025, Peoples R China
来源：
SUSTAINABILITY | 2022年 / 14卷 / 03期
关键词：
commercial credit; technological innovation; sustainable development; China; RESEARCH-AND-DEVELOPMENT; TRADE CREDIT; BANK CREDIT; ECO-INNOVATION; LIQUIDITY; SIZE; AGE;
D O I：
10.3390/su14031481
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
This paper analyses the data on Chinese A-share listed companies from 1996 to 2019, using fixed-effect regression and the double-difference method to systematically examine the impact of commercial credit on enterprise technological innovation. The study found that the acquisition and provision of commercial credit has promoted the number of enterprise technological innovations and significantly improved their quality. In particular, the innovation of highly constrained companies is promoted by financing. Our findings help to solve the obstacles enterprises face in breaking through financing constraints and improving the efficiency and quality of their innovative efforts. The financing system has a significant influence on promoting the sustainable development of innovative enterprises.
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收藏
页数：23
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