Journal
CANADIAN PUBLIC POLICY-ANALYSE DE POLITIQUES
Volume 43, Issue -, Pages S122-S135Publisher
CANADIAN PUBLIC POLICY
DOI: 10.3138/cpp.2016-077
Keywords
entrepreneurial finance; innovation; firm growth; foreign.trade; Yangtze River Economic Belt
Categories
Funding
- project A Study on Accelerating the Development of Entrepreneurial Finance and Innovation Environment in the Yangtze River Economic Belt
- National and Chongqing Development and Reform Commission [2015CDJXY]
- Fundamental Research Funds for the Central Universities
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The increasingly large role of financial intermediaries in promoting firms' innovation and internationalization has led to great research interest. China has faced mounting pressure to take entrepreneurial finance and innovation seriously. Little is known about entrepreneurial financiers' activities and performance. Focusing on entrepreneurial financiers' activities in the Yangtze River Economic Belt, this study investigates how they select projects and how well they perform in China. Evidence shows that various financiers serve in the financial system to nurture innovative entrepreneurial activities; they tend to focus on technology, and the major financiers vary with stage of industrial technological development. With the support of entrepreneurial finance, the invested firms in general maintain a sound growth momentum, but the foreign trade of relevant industries has not significantly increased and has even declined. The implication for industrial and international development policy is discussed.
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