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The Spatial Effect of Venture Capital on Green Technology Innovation—Empirical Research Based on Inter-Provincial Panel Data

DOI: 10.4236/oalib.1108316, PP. 1-12

Subject Areas: Business Finance and Investment

Keywords: Venture Capital, Green Technological Innovation, Panel Model, Spatial Effect

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Abstract

Venture capital, as an active financing method, has introduced many non- capitalized services while providing funds. Green technological innovation, as an important force in promoting the green and ecologicalization of China’s industrial structure, has an impact on the relationship between the two analyses is necessary. This paper explores the relationship between green technology innovation and venture capital through panel data from various regions of China (except Hong Kong, Macao, Taiwan and Tibet) from 2001 to 2019 by constructing a common panel model and a spatial panel model. Research shows that: 1) Venture investment has a positive impact on green technology innovation, and there is a spatial effect, that is, venture capital in surrounding areas has a positive impact on green technology innovation in the region; 2) The level of technology investment, the level of opening up and the intensity of environmental regulations have all impacts on green technology innovation. It has a positive impact; 3) Considering the influence of surrounding areas, the level of government intervention has a negative impact on green technology innovation in the region. Therefore, it is necessary to continue to increase investment in the future and at the same time adopt corresponding measures in technology investment, especially government policy intervention, in order to optimize China’s green technology innovation level in multiple dimensions.

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Niu, C. , Zhou, Z. , Shui, Y. and Zhang, X. (2022). The Spatial Effect of Venture Capital on Green Technology Innovation—Empirical Research Based on Inter-Provincial Panel Data. Open Access Library Journal, 9, e8316. doi: http://dx.doi.org/10.4236/oalib.1108316.

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