创新类型、融资方式与市场战略关系——基于中国高技术企业的实证研究

The relationships among types of innovation,financing choice and product-market strategy——evidence from Chinese high-tech firm'practice

风险投资通过促进高新技术企业的发展推动一国经济发展已被广泛证实。但是很少有文献研究了什么样的企业适合获得风险投资,风险投资对这些企业产生了什么样的影响。本文从高新技术企业的产品创新特性出发研究了风险投资和银行债务融资两种融资方式的选择以及不同融资方式对高新技术企业产品市场策略制定的影响,并对企业产品创新类型对企业制定市场策略的影响进行分析。通过对多个地区的高新技术企业调研所得数据进行实证分析验证了本文提出的相关假设。最后对研究结论和意义进行了分析和讨论。

Many evidences have proved that venture capital impulse the development of high -tech firm, and boost national economic development. But few papers pay more attention to which firms are more likely to obtain venture capital and how venture capital influenced these firms. According to the study of Chinese high - tech firms, this paper analysis the relationships among product＇ s innovation type,financing choice and firm＇ s product - market strategy. With a survey about Chinese High - tech firms in Shenzhen city and Chongqing city, We test the Hypotheses. The theoretical and practical implication is discussed at the end of the paper.