{"id":"https://openalex.org/W4415684933","doi":"https://doi.org/10.3390/systems13110962","title":"The Scale and Innovation Effects of Sci-Tech Finance Pilot Policy from the Perspective of Sustainable Development","display_name":"The Scale and Innovation Effects of Sci-Tech Finance Pilot Policy from the Perspective of Sustainable Development","publication_year":2025,"publication_date":"2025-10-29","ids":{"openalex":"https://openalex.org/W4415684933","doi":"https://doi.org/10.3390/systems13110962"},"language":"en","primary_location":{"id":"doi:10.3390/systems13110962","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13110962","pdf_url":null,"source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.3390/systems13110962","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086602898","display_name":"Zhuoyi Li","orcid":"https://orcid.org/0000-0002-2445-2584"},"institutions":[{"id":"https://openalex.org/I4210131919","display_name":"Xi'an University of Technology","ror":"https://ror.org/038avdt50","country_code":"CN","type":"education","lineage":["https://openalex.org/I4210131919"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Zhuoyi Li","raw_affiliation_strings":["School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China","institution_ids":["https://openalex.org/I4210131919"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5110455063","display_name":"Haiqing Hu","orcid":null},"institutions":[{"id":"https://openalex.org/I4210131919","display_name":"Xi'an University of Technology","ror":"https://ror.org/038avdt50","country_code":"CN","type":"education","lineage":["https://openalex.org/I4210131919"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Haiqing Hu","raw_affiliation_strings":["School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China","institution_ids":["https://openalex.org/I4210131919"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5100549869","display_name":"Meng Xue","orcid":null},"institutions":[{"id":"https://openalex.org/I4210131919","display_name":"Xi'an University of Technology","ror":"https://ror.org/038avdt50","country_code":"CN","type":"education","lineage":["https://openalex.org/I4210131919"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Meng Xue","raw_affiliation_strings":["School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Xi\u2019an University of Technology, Xi\u2019an 710054, China","institution_ids":["https://openalex.org/I4210131919"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5086602898"],"corresponding_institution_ids":["https://openalex.org/I4210131919"],"apc_list":{"value":1600,"currency":"CHF","value_usd":1732},"apc_paid":{"value":1600,"currency":"CHF","value_usd":1732},"fwci":6.2736,"has_fulltext":false,"cited_by_count":2,"citation_normalized_percentile":{"value":0.96533192,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":"13","issue":"11","first_page":"962","last_page":"962"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12722","display_name":"Innovation Policy and R&D","score":0.435699999332428,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12722","display_name":"Innovation Policy and R&D","score":0.435699999332428,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.10029999911785126,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13867","display_name":"Economic Growth and Development","score":0.04450000077486038,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/scale","display_name":"Scale (ratio)","score":0.6852999925613403},{"id":"https://openalex.org/keywords/sustainable-development","display_name":"Sustainable development","score":0.4993000030517578},{"id":"https://openalex.org/keywords/financial-innovation","display_name":"Financial innovation","score":0.4925000071525574},{"id":"https://openalex.org/keywords/resource","display_name":"Resource (disambiguation)","score":0.44769999384880066},{"id":"https://openalex.org/keywords/perspective","display_name":"Perspective (graphical)","score":0.4203999936580658},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.39169999957084656},{"id":"https://openalex.org/keywords/sample","display_name":"Sample (material)","score":0.37929999828338623},{"id":"https://openalex.org/keywords/sustainable-growth-rate","display_name":"Sustainable growth rate","score":0.3727000057697296}],"concepts":[{"id":"https://openalex.org/C2778755073","wikidata":"https://www.wikidata.org/wiki/Q10858537","display_name":"Scale (ratio)","level":2,"score":0.6852999925613403},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5982000231742859},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5546000003814697},{"id":"https://openalex.org/C552854447","wikidata":"https://www.wikidata.org/wiki/Q131201","display_name":"Sustainable development","level":2,"score":0.4993000030517578},{"id":"https://openalex.org/C2777064627","wikidata":"https://www.wikidata.org/wiki/Q3151423","display_name":"Financial innovation","level":2,"score":0.4925000071525574},{"id":"https://openalex.org/C206345919","wikidata":"https://www.wikidata.org/wiki/Q20380951","display_name":"Resource (disambiguation)","level":2,"score":0.44769999384880066},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.42080000042915344},{"id":"https://openalex.org/C12713177","wikidata":"https://www.wikidata.org/wiki/Q1900281","display_name":"Perspective (graphical)","level":2,"score":0.4203999936580658},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.39169999957084656},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.37929999828338623},{"id":"https://openalex.org/C134632028","wikidata":"https://www.wikidata.org/wiki/Q6134482","display_name":"Sustainable growth rate","level":2,"score":0.3727000057697296},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.36730000376701355},{"id":"https://openalex.org/C2780082420","wikidata":"https://www.wikidata.org/wiki/Q4672483","display_name":"Access to finance","level":2,"score":0.36730000376701355},{"id":"https://openalex.org/C2164484","wikidata":"https://www.wikidata.org/wiki/Q5170150","display_name":"Core (optical fiber)","level":2,"score":0.3174999952316284},{"id":"https://openalex.org/C2989454216","wikidata":"https://www.wikidata.org/wiki/Q7615509","display_name":"Technology innovation","level":2,"score":0.314300000667572},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.3075000047683716},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.28850001096725464},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.2851000130176544},{"id":"https://openalex.org/C87980944","wikidata":"https://www.wikidata.org/wiki/Q664112","display_name":"Industrial policy","level":2,"score":0.28360000252723694},{"id":"https://openalex.org/C186037533","wikidata":"https://www.wikidata.org/wiki/Q794803","display_name":"Innovation management","level":2,"score":0.2802000045776367},{"id":"https://openalex.org/C2779576378","wikidata":"https://www.wikidata.org/wiki/Q7692619","display_name":"Technology policy","level":2,"score":0.2777999937534332},{"id":"https://openalex.org/C74363100","wikidata":"https://www.wikidata.org/wiki/Q273005","display_name":"Economic system","level":1,"score":0.2703999876976013},{"id":"https://openalex.org/C2777747085","wikidata":"https://www.wikidata.org/wiki/Q5449743","display_name":"Financial sector development","level":3,"score":0.25760000944137573},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.25699999928474426},{"id":"https://openalex.org/C80515813","wikidata":"https://www.wikidata.org/wiki/Q1134763","display_name":"Corporate finance","level":2,"score":0.25360000133514404}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.3390/systems13110962","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13110962","pdf_url":null,"source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:c49020f2d0e1488085681216bb4df38e","is_oa":true,"landing_page_url":"https://doaj.org/article/c49020f2d0e1488085681216bb4df38e","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Systems, Vol 13, Iss 11, p 962 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/systems13110962","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13110962","pdf_url":null,"source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":44,"referenced_works":["https://openalex.org/W2173708787","https://openalex.org/W3121786372","https://openalex.org/W3122711774","https://openalex.org/W3123197402","https://openalex.org/W3124505714","https://openalex.org/W3125354828","https://openalex.org/W3125374115","https://openalex.org/W3195702599","https://openalex.org/W4226000736","https://openalex.org/W4289328111","https://openalex.org/W4292253509","https://openalex.org/W4295599859","https://openalex.org/W4312156425","https://openalex.org/W4320169429","https://openalex.org/W4380481498","https://openalex.org/W4380929901","https://openalex.org/W4381890822","https://openalex.org/W4381953327","https://openalex.org/W4386501059","https://openalex.org/W4387125950","https://openalex.org/W4387341206","https://openalex.org/W4388020139","https://openalex.org/W4388745782","https://openalex.org/W4389216048","https://openalex.org/W4391252051","https://openalex.org/W4392241697","https://openalex.org/W4392389213","https://openalex.org/W4392542273","https://openalex.org/W4393238274","https://openalex.org/W4393250913","https://openalex.org/W4393281250","https://openalex.org/W4394590192","https://openalex.org/W4399565071","https://openalex.org/W4399800739","https://openalex.org/W4399839769","https://openalex.org/W4402858237","https://openalex.org/W4403500771","https://openalex.org/W4404412310","https://openalex.org/W4405386276","https://openalex.org/W4406010399","https://openalex.org/W4407869118","https://openalex.org/W4407876627","https://openalex.org/W4408235577","https://openalex.org/W4411251303"],"related_works":[],"abstract_inverted_index":{"To":[0],"advance":[1],"breakthroughs":[2],"in":[3,157,189],"core":[4],"technologies":[5],"and":[6,46,67,92,98,105,137,181],"foster":[7],"the":[8,16,22,57,60,82,126,130,138,144,177,191],"growth":[9],"of":[10,24,38,129,165],"technology-based":[11,39,145],"enterprises,":[12],"China":[13],"has":[14],"introduced":[15],"Sci-Tech":[17,61,83,131],"Finance":[18,62,84,132],"Pilot":[19,63,85,133],"Policy":[20,86,134],"with":[21],"aim":[23],"promoting":[25],"sci-tech":[26],"enterprise":[27,146],"development":[28,175],"through":[29,176],"optimized":[30],"financial":[31,110],"resource":[32,111],"allocation.":[33],"Based":[34],"on":[35,42],"a":[36,71,151,158],"sample":[37],"firms":[40],"listed":[41],"China\u2019s":[43],"SME":[44],"Board":[45,48],"ChiNext":[47],"from":[49],"2009":[50],"to":[51],"2023,":[52],"this":[53,166],"study":[54,167],"empirically":[55],"examines":[56],"relationships":[58],"between":[59,179],"Policy,":[64],"scale":[65,90,97,104,114,139,180],"expansion,":[66],"technological":[68,93],"innovation":[69,99,106,119,127,161],"using":[70],"multi-period":[72],"Difference-in-Differences":[73],"(DID)":[74],"model.":[75],"The":[76,163],"key":[77],"findings":[78,164],"reveal":[79],"that,":[80],"first,":[81],"simultaneously":[87],"promotes":[88,173],"corporate":[89],"expansion":[91,115],"innovation,":[94,182],"generating":[95],"both":[96],"effects;":[100],"second,":[101],"it":[102],"generates":[103],"effects":[107],"by":[108],"optimizing":[109],"allocation,":[112],"while":[113],"further":[116],"induces":[117],"additional":[118],"effects.":[120],"Third,":[121],"heterogeneity":[122],"analysis":[123],"reveals":[124],"that":[125,169],"effect":[128,140],"is":[135,141,147],"stronger,":[136],"weaker":[142],"when":[143],"privately":[148],"owned,":[149],"possesses":[150],"solid":[152],"R&amp;D":[153],"foundation,":[154],"or":[155],"operates":[156],"favorable":[159],"external":[160],"environment.":[162],"demonstrate":[168],"technology":[170],"finance":[171],"policy":[172,184],"high-quality":[174],"synergy":[178],"providing":[183],"implications":[185],"for":[186],"developing":[187],"countries":[188],"implementing":[190],"United":[192],"Nations":[193],"Sustainable":[194],"Development":[195],"Goals.":[196]},"counts_by_year":[{"year":2026,"cited_by_count":2}],"updated_date":"2026-03-29T08:15:47.926485","created_date":"2025-10-30T00:00:00"}
