Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Financialization of Enterprises and Technological Innovation of New Energy Enterprises

Authors
Yuxuan Zhang1, *
1College of Economics and Management, Beijing Technology of University, Beijing, 100124, China
*Corresponding author. Email: yuxuan_z@foxmail.com
Corresponding Author
Yuxuan Zhang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_180How to use a DOI?
Keywords
Technology innovation; Enterprise financialization; New energy enterprises; Random effect model; Return on asset
Abstract

Under the goal of “carbon peak” and “carbon neutralization”, China began to attach great importance to the transformation of energy, and new energy enterprises have become key development enterprises. Technological innovation is the key to the development of new energy enterprises, but the low economic efficiency makes them less motivated to carry out technological innovation. Instead, idle funds are used for short-term financial investment. Based on the theory above, this research attempts to explore the impact of enterprise financialization on technological innovation of new energy enterprises. According to the Wind database, this research selects Shanghai and Shenzhen A-share listed companies from 2011 to 2020 as the original sample and uses the random effect model in STATA to make an empirical analysis. The results show that enterprises financialization has a “crowding-out” effect on technological innovation of new energy enterprises, and the higher the return on asset is, the stronger the technological innovation capability is. The enterprise scale and the R&D investment ratio also have a significant indigenous impact on the technological innovation of enterprises.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_180How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yuxuan Zhang
PY  - 2022
DA  - 2022/12/31
TI  - Financialization of Enterprises and Technological Innovation of New Energy Enterprises
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1216
EP  - 1222
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_180
DO  - 10.2991/978-94-6463-036-7_180
ID  - Zhang2022
ER  -