Research of Financial Support on Innovative Elements Concentration and High-Quality Innovative Development

Abstract

This is an open access article distributed under the CC BY-NC 4.0 license-http://creativecommons.org/licenses/by-nc/4.0/. ABSTRACT The study aims to study how financial support affects high-quality innovative development of artificial intelligence (AI) small and medium-sized enterprises (SMEs) through promoting innovative elements concentration, and takes 122 CEOs from 122 AI SMEs in Southern China as empirical studied samples. With the analysis of structural equational modelling, the research results showed that financial support including both policy-based financial support and market-based financial support had direct positive impact on innovative elements concentration and high-quality innovative development of AI SMEs. Moreover, innovative elements concentration had a direct positive impact on high-quality innovative development of AI SMEs significantly, and meanwhile mediated the relationship between policy-based financial support and high-quality innovative development of AI SMEs and the relationship between market-based financial support and high-quality innovative development of AI SMEs.