| 金融化有助于企业研发投入吗 |
| |
| 引用本文： | 顾群,贾德芝,岳增艳. 金融化有助于企业研发投入吗[J]. 科技进步与对策, 2019, 36(14): 93-98. DOI: 10.6049/kjjbydc.2018110617 |
| |
| 作者姓名： | 顾群 贾德芝 岳增艳 |
| |
| 作者单位： | （1.天津财经大学 会计学院；2.天津财经大学 无形资产评价协同创新中心，天津 300222） |
| |
| 基金项目： | 国家社会科学基金项目（15BJY010）；天津市科技发展战略研究计划项目（18ZLZXZF00700、17ZLZXZF01030） |
| |
| 摘 要： | 基于我国“脱实向虚”的经济现状，以我国深圳证券交易所中小企业板上市的高新技术企业为样本，研究企业金融化对研发投入的影响。结果发现：高新技术中小企业金融化程度越高，研发投入越多；相比于国有产权、金融发展水平较高地区，民营产权、金融发展水平较低地区的高新技术中小企业金融化更加有助于其研发投入；金融化对高新技术中小企业研究阶段支出有促进作用，而对开发阶段支出有挤占效应。
|
| 关 键 词： | 企业金融化 研发投入 产权性质 金融发展 高新技术中小企业 |
| 收稿时间： | 2019-03-15 |
Does Financialization Promote the R&D Investment |
| |
| Gu Qun,Jia Dezhi,Yue Zengyan. Does Financialization Promote the R&D Investment[J]. Science & Technology Progress and Policy, 2019, 36(14): 93-98. DOI: 10.6049/kjjbydc.2018110617 |
| |
| Authors: | Gu Qun Jia Dezhi Yue Zengyan |
| |
| Affiliation: | （1.School of Accountancy, Tianjin University of Finance and Economics；2.Co-Innovation Center for Intangible Asset Evaluation，Tianjin University of Finance and Economics，Tianjin 300222, China） |
| |
| Abstract: | Now virtual economy is tending to overweigh real economy in China. Under such economic situation, this paper takes high-tech enterprises listed on the SME board in Shenzhen Stock Exchange of China as samples, and studies the impact of corporate financialization on R&D Investment. The author finds that corporate financialization improves hi-tech SMEs' R&D investment significantly. Corporate financialization has more positive impact on R&D investment in private hi-tech SMEs and firms located in areas with less financial development than state owned enterprises and firms located in areas with higher financial development level. Corporate financialization has a positive effect on spending in research stage but a crowd-out effect in development stage. |
| |
| Keywords: | Corporate Financialization R&D Investment Nature of Property Rights Financial Development Hi-tech SMEs |
|
| 点击此处可从《科技进步与对策》浏览原始摘要信息 |
|
点击此处可从《科技进步与对策》下载全文 |
