Yang, K.Z.; Li, M.Y., and Suo, L.L., 2020. The impact of controlling shareholders' share pledge on enterprise's innovation investment—Evidence from listed firms in coastal region of China. In: Qiu, Y.; Zhu, H., and Fang, X. (eds.), Current Advancements in Marine and Coastal Research for Technological and Sociological Applications. Journal of Coastal Research, Special Issue No. 107, pp. 408-412. Coconut Creek (Florida), ISSN 0749-0208.

Utilizing the data of A-share listed companies in Chinese coastal areas from 2008 to 2017, this paper empirically analyses the relationship between the pledge of controlling shareholders' equity and the enterprise innovation. The results show that: (1) Controlling shareholders' share pledge will restrain innovation investment, but this negative impact will only play a role when the share pledge rate is high; (2) After subdividing the nature of property rights, it is found that the restraint of controlling shareholders' share pledge on enterprise innovation is more significant in coastal non-state-owned enterprises than in state-owned enterprises.