Proceedings of the 2025 11th International Conference on Humanities and Social Science Research（ICHSSR 2025)

<Previous Article In Volume
Next Article In Volume>

Patient Capital, Financing Constraints and Enterprise Innovation

Authors
Zhengchao Zhang1, Anqi Yang1, *
1The College of Economics, Bohai University, Jinzhou, Liaoning, 121013, China
*Corresponding author. Email: 813640663@qq.com
Corresponding Author
Anqi Yang
Available Online 10 July 2025.
DOI
10.2991/978-2-38476-440-2_67How to use a DOI?
Keywords
Patience Capital; Enterprise Innovation; Financing Constraints
Abstract

In the current market environment, the competition between enterprises is increasingly intensified, prompting enterprises to carry out innovation activities, which needs to rely on the own financial resources of enterprises. However, the characteristics of long innovation cycle and large investment may make enterprises face different degrees of financing constraints, and patient capital can solve this problem. In order to investigate the relationship between patient capital and enterprise innovation and the intermediary effect of financing constraints in the relationship between them, the a-share listed companies from 2011-2023 are taken as the research object, and multiple regression analysis method is used for empirical analysis. The results show that patient capital has a positive impact on enterprise innovation, and financing constraint plays an intermediary role between the two.

Copyright
© 2025 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.

Download article (PDF)

<Previous Article In Volume
Next Article In Volume>
Volume Title
Proceedings of the 2025 11th International Conference on Humanities and Social Science Research（ICHSSR 2025)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
10 July 2025
ISBN
978-2-38476-440-2
ISSN
2352-5398
DOI
10.2991/978-2-38476-440-2_67How to use a DOI?
Copyright
© 2025 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  - Zhengchao Zhang
AU  - Anqi Yang
PY  - 2025
DA  - 2025/07/10
TI  - Patient Capital, Financing Constraints and Enterprise Innovation
BT  - Proceedings of the 2025 11th International Conference on Humanities and Social Science Research（ICHSSR 2025)
PB  - Atlantis Press
SP  - 595
EP  - 603
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-440-2_67
DO  - 10.2991/978-2-38476-440-2_67
ID  - Zhang2025
ER  -