Impact of Commercial Credit Financing on the Quality of Enterprise Innovation

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Economic Management Journal

Economic Management Journal (EMJ) is an international open access journal, concerning about the latest research results of economic management. The goal of the journal is to provide a global forum for scholars and researchers in this field to exchange ideas and promote the theoretical and practical development of economic management.The journal receives manuscripts written in Chinese or English. As for Chinese papers, the following it... [More] Economic Management Journal (EMJ) is an international open access journal, concerning about the latest research results of economic management. The goal of the journal is to provide a global forum for scholars and researchers in this field to exchange ideas and promote the theoretical and practical development of economic management.

The journal receives manuscripts written in Chinese or English. As for Chinese papers, the following items in English are indispensible parts of the paper: paper title, author(s), author(s)'affiliation(s),abstract and keywords. If this is the first time you contribute an article to the journal, please format your manuscript as per the sample paper and then submit it into the online submission system. Accepted papers will immediately appear online followed by printed hard copies by Ivy Publisher globally. Therefore, the contributions should not be related to secret. The author takes sole responsibility for his views.

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Paper Infomation

Impact of Commercial Credit Financing on the Quality of Enterprise Innovation

Full Text(PDF, 399KB)

Author: Jie Hu

Abstract: This article uses Chinese A-share listed companies from 2012 to 2021 as research samples to empirically test the impact of commercial credit financing on corporate innovation. Research has found that the improvement of commercial credit financing level can significantly promote the improvement of enterprise innovation quality, and this conclusion is supported by various robustness test results. Further analysis of segmented samples reveals that commercial credit financing exhibits strong heterogeneity in its impact on the quality of corporate innovation, significantly promoting innovation in mature enterprises, non-state-owned enterprises, and non high-tech enterprises, while having no significant impact on innovation in growth stage enterprises, state-owned enterprises, and high-tech enterprises. This article believes that strengthening the commercial credit financing capacity of enterprises can stimulate innovation in a broader sense, providing new perspectives for relevant departments to think about how to enhance the innovation motivation of enterprises and build an innovative country.

Keywords: Commercial Credit, Enterprise Innovation

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