How Does Public Capital Affect Enterprise Technological Innovation Based on Empirical Evidence from Chinese Listed Companies

Public capital is an important force for promoting industrial agglomeration and enterprise technological innovation, innovation the core element in green economic growth. To further reveal influence mechanism of public on based data A-share listed companies China from 2007 to 2020, this paper uses nonlinear moderating effect model intermediating verify transmission innovation. This discusses perspective agglomeration. The study finds that has a significant role Moreover, plays greater than social capital. Further analysis shows nonlinearly regulated by In initial stage agglomeration, higher degree weaker capital; however, advanced stronger realized affecting profits enterprises. From heterogeneity, non-state-owned enterprises but no impact state-owned enterprises; positive mid- high-end technology enterprises, while its low-end not significant. type output, invention patents utility patents. provides theoretical basis government investment decisions empirical evidence sustainable development