耐心资本与企业创新：文献回顾与未来展望

Patient Capital and Corporate Innovation: A Literature Review and Future Directions

摘要: 文章系统梳理了耐心资本与企业创新的相关文献。首先，明确了耐心资本的核心内涵，梳理了耐心资本影响企业创新的相关理论；其次，分析了产权性质、行业特征与宏观制度环境等因素的调节作用，并总结其在提升创新质量、驱动绿色与数字技术创新、培育新质生产力等方面的经济后果。在此基础上，评析了不同测度方法的优劣及其对结论的影响。最后，基于现状，提出了未来展望。

Abstract: This paper systematically reviews the literature on patient capital and corporate innovation. First, it clarifies the core connotation of patient capital and outlines the relevant theories on how patient capital influences corporate innovation. Second, it analyzes the moderating roles of factors such as ownership nature, industry characteristics, and the macro-institutional environment. It also summarizes the economic consequences of patient capital in terms of enhancing innovation quality, driving green and digital technology innovation, and cultivating new quality productive forces. Based on this, the paper evaluates the strengths and weaknesses of different measurement methods and their impact on the research conclusions. Finally, it offers future prospects based on the current state of research.