At the moment,PPP is the main method of project financing.Under this model,the social capital party bears the main capital responsibility.In order to reduce the asset-liability ratio and obtain more funds,many industrial enterprises choose to participate in financial institutions.The combination of industry and finance is increasingly rich,and it can provide financial support for engineering projects through industrial funds and perpetual bonds.But what will corporate finance bring to project innovation? Innovation is a necessary condition for industrial enterprises to survive in fierce competition.However research between company financialization and innovation has not yet reached a unified opinion.This paper tests the impact of financialization on enterprise project innovation,and finds that there is a negative effect between the two.Also further research shows that the higher the degree of financing constraints,the more obvious the inhibition.This paper enriches the research on industrial enterprise financialization and project innovation.
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