The new quality productivity of enterprises is the interpretation of the Marxist theory of productivity in the new era,and it is the advanced productivity driven by innovation in the micro field of enterprises.Based on the knowledge production function and the data of non-financial listed companies from 2008 to 2021,this paper explores the impact of financial investment of non-financial enterprises on the cultivation of new productivity and analyzes the moderating effect of government subsidies and bank credit.The results show that financial investment inhibits the cultivation of new quality productivity of enterprises,while government subsidies and bank credit can positively moderate the inhibition effect of financial investment on the new quality productivity of enter-prises.The path analysis shows that financial investment affects the cultivation of new quality productivity of enterprises through three channels:innovation investment,development ability and operation ability.This paper enriches the research on the impact of financial investment of non-financial enterprises on the cultivation of new quality productivity of enterprises and provides theoretical basis and practical enlightenment for enterprises to rationally allocate investment and promote their high-quality development.
关键词
金融投资/企业新质生产力/政府补助/银行信贷/创新投入/发展能力/经营能力/企业高质量发展
Key words
financial investment/new quality productivity of enterprises/government subsidies/bank credit/innovation input/development capacity/operating capacity/high-quality enterprise development
维普
万方数据