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Patient capital and the performance of strategic emerging enterprises
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DOI:10.1016/j.iref.2026.105284.png)
Abstract
En 中文
• Using the Classification Catalogue of Strategic Emerging Industries (2023) ensures accurate identification. • We use a novel patient capital dummy and rigorous robustness and endogeneity tests. • Patient capital fosters innovation and reduces operational costs as two distinct channels. • The effect is stronger in regions with higher intellectual property protection and among state-owned enterprises. • Provide clear policy implications for building a financial ecosystem conducive to innovation.
Keywords:
Patient capital
Strategic emerging industries
Enterprise performance
Technological innovation
Operating costs
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I
IF:
5.6
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509
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