The Effect of Government Intervention on Self Innovation of Strategic Emerging Enterprises based on the Role of Financial Intermediary
Keywords:Independent Innovation; Government Intervention; Financial Support; Strategic Emerging Enterprises.
The implementation of government intervention and financial support can solve the problem of insufficient investment in independent innovation of enterprises, improve the ability of independent innovation of strategic emerging industries, and achieve the goal of high-quality economic development. However, due to the inconsistency between the government's macro-control objectives and the interest objectives of financial institutions, government intervention and financial support are uncoordinated. Under this background, this paper studies the impact of government intervention and financial support on the independent innovation of strategic emerging industry enterprises. The results show that: (1) Government intervention can stimulate enterprises to increase investment in independent innovation. (2) Government intervention and financial support affect the allocation of financial resources in enterprise innovation activities. (3) Long term bank loans inhibit enterprises' independent innovation and development, and reduce enterprises' investment in independent innovation.
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