Abstract: With the special double role of stockholder and creditor, banks influence the investment decisions of enterprises. Taking the data of China's Shenzhen stock exchange SME board high-tech listed companies as the research object, basing on nature of property right and R&D investment heterogeneity, this paper researches the impact of bank-share holding on enterprise innovation. The results show that:(1) Bank-share holding can promote enterprises to carry out technological innovation activities; (2) Bank-share holding can promote the innovation of private enterprises, whereas for the promotion of state-owned enterprises is not significant; (3) Bank-share holding can promote enterprises to carry out exploratory innovation activities, whereas, the role of bank ownership in promoting developmental innovation is not significant.

Key words: bank-share holding, technological innovation, nature of property rights, R&D investment heterogeneity