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Our analysis also reveals that the business environment\u2019s optimization significantly influences innovation in firms that are small, non-state-owned and operating in high-tech industries. Furthermore, the business environment acts as a moderating variable in the relationship between firm innovation and firm value.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Research limitations\/implications<\/jats:title><jats:p>This study contributes to a more comprehensive understanding of institutional-level determinants of firm innovation, highlighting the nuances of the legal environment and the importance of context-specific analysis, especially in emerging markets like China.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Practical implications<\/jats:title><jats:p>Developing countries can significantly enhance firm innovation by improving the business environment, including the optimization of administrative and financial systems, reducing transaction costs and ensuring capital supply. Tailored legal frameworks and alternative institutional strategies may also be explored.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Social implications<\/jats:title><jats:p>This study explicitly emphasizes the governmental role in promoting firm innovation, shedding light on policy formulation and strategic alignment with local administrative policies.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>To the best of our knowledge, this paper is the first to explore the relationship between the business environment and firm innovation using World Bank indicators in an emerging market context, providing novel insights into the unique dynamics of legal, financial and administrative sub-environments.<\/jats:p><\/jats:sec>","DOI":"10.1108\/k-01-2023-0164","type":"journal-article","created":{"date-parts":[[2024,2,8]],"date-time":"2024-02-08T13:37:15Z","timestamp":1707399435000},"page":"3187-3216","source":"Crossref","is-referenced-by-count":5,"title":["Local business environment and firm innovation: evidence from China"],"prefix":"10.1108","volume":"54","author":[{"given":"Jiapeng","family":"Wu","sequence":"first","affiliation":[]},{"given":"Dayu","family":"Gao","sequence":"additional","affiliation":[]},{"given":"Cheng","family":"Xu","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0003-4660-6780","authenticated-orcid":false,"given":"Yanqi","family":"Sun","sequence":"additional","affiliation":[]}],"member":"140","published-online":{"date-parts":[[2024,2,9]]},"reference":[{"issue":"6","key":"key2025041114455951800_ref001","doi-asserted-by":"publisher","first-page":"1545","DOI":"10.1017\/s0022109011000378","article-title":"Firm innovation in emerging markets: the role of finance, governance, and competition","volume":"46","year":"2011","journal-title":"Journal of Financial and Quantitative Analysis"},{"key":"key2025041114455951800_ref002","doi-asserted-by":"publisher","first-page":"91","DOI":"10.1016\/J.TECHFORE.2018.05.016","article-title":"Towards a higher socio-economic impact through shared understanding of product requirements in emerging markets: the case of the Indian healthcare innovations","volume":"135","year":"2018","journal-title":"Technological Forecasting and Social Change"},{"issue":"2","key":"key2025041114455951800_ref003","doi-asserted-by":"publisher","first-page":"323","DOI":"10.2307\/2951599","article-title":"A model of growth through creative destruction","volume":"60","year":"1992","journal-title":"Econometrica"},{"issue":"8","key":"key2025041114455951800_ref004","doi-asserted-by":"publisher","first-page":"2311","DOI":"10.14505\/jarle.v8.8(30).01","article-title":"Analysis of innovation activity of firms in modern business environment","volume":"8","year":"2017","journal-title":"Journal of Advanced Research in Law and Economics (JARLE)"},{"issue":"9","key":"key2025041114455951800_ref005","doi-asserted-by":"publisher","first-page":"2548","DOI":"10.1108\/k-06-2020-0365","article-title":"Analysis of patent documents with utility mining: a case study of wind energy technology","volume":"50","year":"2021","journal-title":"Kybernetes"},{"key":"key2025041114455951800_ref006","article-title":"The bright side of political uncertainty: the case of R&D","year":"2015"},{"key":"key2025041114455951800_ref007","doi-asserted-by":"crossref","unstructured":"Aschhoff, B. 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