The Influence Of Venture Capital On Technological Innovation Of New Energy Vehicle Enterprises Under The Background Of "Dual Carbon"

In recent years,with the proposal of the "dual carbon" policy goal in China,new energy vehicles have ushered in a new round of development opportunities.Technological innovation is an important support and guarantee for enterprises to participate in global market competition,maintain their unique advantages,and improve their competitive position.In the context of the "dual carbon" policy,the new energy vehicle industry,as a representative of emerging industries,has become the future development direction of the new energy vehicle industry by promoting technological innovation,achieving low-carbon travel,and promoting the development of new energy vehicles towards intelligence,networking,and sharing.As a new type of equity financing method,venture capital is one of the most effective forms of financing to promote technological innovation in science and technology enterprises.It can provide financial support and value-added services for the technological innovation of new energy vehicle enterprises,alleviate the financing constraints of enterprise technological research and development,while bringing rich social network resources to the enterprise,and promote technological innovation in new energy vehicle enterprises.This article starts with the relevant theories of venture capital and the new energy vehicle industry,expounds the current development situation and existing problems of China’s new energy vehicle industry,analyzes the impact mechanism of venture capital on technological innovation in the new energy vehicle industry,and further analyzes it from the perspective of industrial heterogeneity.This article selects 154 new energy vehicle listed companies on the GEM from 2010 to 2021 as the research object,constructs a negative binomial regression model for empirical analysis,uses corporate financing constraints and corporate social capital as intermediary variables,and uses the stepwise regression method to test the intermediary effect of corporate financing constraints and corporate social capital in venture capital on technological innovation of new energy vehicle companies.The paper finds that venture capital can promote the technological innovation of new energy vehicle enterprises;Venture capital can significantly promote the technological innovation of enterprises in the new energy vehicle industry and parts industry,but it has no significant impact on the technological innovation of enterprises in the new energy vehicle service industry.In the analysis of intermediary mechanisms,venture capital can provide financial support to alleviate corporate financing constraints;Providing value-added services and improving corporate social capital are two intermediary ways to promote technological innovation in new energy vehicle enterprises.Finally,based on the issues and results reflected in the study,targeted recommendations are proposed for venture capital institutions,governments,and new energy vehicle companies.