Government Venture Capital,Local Attention to Environmental Protection and Innovation of Environmental Protection Enterprises
Taking 208 environmental protection enterprises in China from 2011 to 2020 as samples,this paper empirically analyz-es the impact of government venture capital on the innovation level of environmental protection enterprises and the moderating ef-fect of local attention to environmental protection.It is found that government venture capital can significantly improve the inno-vation level of environmental protection enterprises,and local environmental protection attention has a positive moderating effect;There is stage heterogeneity in the promotion effect of government venture capital;The positive moderating effect of local atten-tion to environmental protection has regional and stage heterogeneity.Moreover,the second year after government venture capital enter the enterprises is the critical time point for its continued role.The mechanism analysis shows that government venture capi-tal can improve the innovation level of environmental protection enterprises by alleviating the financing constraints.
Government venture capitalInnovation of enterprisesEnvironmental protection enterprisesLocal attention to envi-ronmental protection
NETL
NSTL
万方数据
