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This paper aims to answer three questions: (1) Which countries invest more capital in green firms? (2) What kind of industries do venture capitals (VCs) invest in? (3) Do VCs invest more capital in green firms?

First, the authors provide summary statistics of the key variables for green and non-green firms. Then the authors use figures to plot the growth of green firms over time. Next, the authors use descriptive data to study VC-invested firms for the top 10 countries and industries for all firms, green firms and non-green firms. Finally, the authors compare the VC investors' characteristics and investment behavior between green and non-green firms.

This study documents that venture-backed investments in clean technologies have increased dramatically in the number of deals and in the total amount of dollar volume over time. This paper provides evidence that VC firms invest more in green firms in each deal than in non-green firms. The United States and European countries play an important role in funding clean technologies across countries, and this study’s results suggest that VC investors play a considerable role in shaping the development of green finance.

This paper makes the first attempt to investigate the role of VCs in clean technologies to support carbon neutrality, providing initial evidence on venture capitalists' investment efforts towards carbon neutrality. The paper also has practical implications for start-up firms that raise capital and venture capitalists who finance green start-ups.

Au stud bump bonding technology is an effective means to realize heterogeneous integration of commercial chips in the 2.5D electronic packaging. The purpose of this paper is to study the long-term reliability of the Au stud bump treated by four different high temperature storage times (200°C for 0, 100, 200 and 300 h).

The bonding strength and the fracture behavior are investigated by chip shear test. The experiment is further studied by microstructural characterization approaches such as scanning electron microscope, energy dispersive spectrometer and so on.

It is recognized that there were mainly three typical fracture models during the chip shear test among all the Au stud bump samples treated by high temperature storage. For solder bump before aging, the fracture occurred at the interface between the Cu pad and the Au stud bump. As the aging time increased, the fracture mainly occurred inside the Au stud bump at 200°C for 100 and 200 h. When aging time increased to 300 h, it is found that the fracture transferred to the interface between the Au stud bump and the Al Pad.

In addition, the bonding strength also changed with the high temperature storage time increasing. The bonding strength does not change linearly with the high temperature storage time increasing but decreases first and then increases. The investigation shows that the formation of the intermetallic compounds because of the reaction between the Au and Al atoms plays a key role on the bonding strength and fracture behavior variation.

Whether foreign direct investment (FDI) can promote technology progress in the host country, or not, has become an issue in recent decades. The purpose of this paper is to analyze the impact of FDI on regional technological capabilities.

This paper first analyzes the spillover effects of FDI with reference to actual conditions in foreign‐funded enterprises in China, then uses correlation analysis and regression analysis to show the impact of FDI on technological capabilities. This paper compares the R&D expenditures in foreign‐funded enterprises and FDI origin countries between three typical regions – Shanghai, Jiangsu, and Guangdong – to show the influencing factors of spillovers.

The impact of FDI on regional technological capabilities is found to be weak; FDI has little use for enhancing indigenous innovation capability. The regions with higher technological capabilities will attract the higher quality of inward FDI, and the powerful technological capabilities and abundant human capitals in domestic enterprises are essential factors to stimulate the spillover effects of FDI.

The arguments could be discussed more fully if an empirical model could be established to disclose the determinants of spillover effects. How to measure the spillover effects quantitatively is a key problem for future research.

This paper discloses the mutual relationship between domestic and foreign‐funded enterprises. The findings in this paper provide some insights for both the host countries and the foreign investors.