中国渔业经济2026，Vol.44Issue(4)：42-53,12.
融资约束对涉海企业创新的影响
The impact of financing constraints on innovation in marine-related enterprises:considering the moderating effect of enterprise digital transformation
摘要
Abstract
Marine-related enterprises are the core entities in building a strong maritime nation,serving as the primary organizers and participants in marine science and technology innovation activities.Based on the realistic dilemma of"difficult and expensive financing"of ocean-related enterprises,this paper adopts the panel data of China's A-share ocean-related listed companies from 2007 to 2022 to explore the non-linear impact mechanism of financing constraints on the innovation efficiency of ocean-related enterprises,and further analyze the moderating effect of digital transformation.The results of the study show as bellows.(1)There is a significant inverted U-shape relationship between financing constraints and innovation efficiency of sea-related enterprises,and most of the inflection points are located on the right side of the inflection point.(2)Heterogeneity analysis shows that the inverted U-shaped relationship between financing constraints and innovation efficiency of sea-related enterprises is more significant in small enterprises,competitive industries and downstream enterprises of the industrial chain.(3)Digital transformation positively moderates the inverted U-shaped relationship between financing constraints and innovation efficiency of sea-related enterprises,making the inverted U-shaped curve steeper and the inflection point flattening to the right.This study aims to strengthen the main position of science and technology innovation of sea-related enterprises,provide decision-making reference for developing new quality productivity in the marine field and promoting the construction of modernized marine industrial system.关键词
涉海企业/融资约束/创新效率/企业数字化转型Key words
marine-related enterprises/financing constraints/innovation efficiency/digital transformation of enterprises分类
管理科学引用本文复制引用
黄晓凡,郭晶..融资约束对涉海企业创新的影响[J].中国渔业经济,2026,44(4):42-53,12.基金项目
本文受资助国家社科基金重大项目"构建更高水平开放型向海经济新体制研究"(25&ZD162)资助. （25&ZD162）
