摘要
基于2009年到2014年间我国A股上市公司的微观数据,运用实证回归分析的方法检验了创业风险投资对我国战略性新兴产业融资的溢出作用。研究发现,风险投资的介入对于战略性新兴产业融资具有显著的正向带动作用,拥有风险投资背景的战略性新兴企业更容易获得以短期债务融资为代表的外部债务融资以及外部权益融资,而且风险投资的融资带动作用对于非国有战略性新兴企业更有效。
Based on the empirical study of specific data of listed A -share companies from 2009 to 2014, this paper verified the spillover effect of VC investment on the financing of national strategic emerging industries. The conclusions showed that there was notable positive impacl of VC investment on the national strategic emerging industries, which was proved by the fact that enterprises funded by VC capital within the strategic emerging sectors were more likely to get debt financing （ especially short - term loan） and equity financing. In addition, the driving effect of VC capital on non - state - owned enterprises was stronger than that of state - nwned enterprises.
出处
《科技管理研究》
CSSCI
北大核心
2016年第14期160-164,共5页
Science and Technology Management Research
基金
国家社会科学基金重点项目"世界产业发展新趋势与我国培育发展战略性新兴产业的跟踪研究"(12AZD046)
国家社会科学基金重点项目"新产业革命背景下我国产业转型的体制机制创新研究"(13AZD072)
关键词
战略性新兴产业
风险投资
融资渠道
溢出作用
strategic emerging industries
venture capital
financing channel
spillover effect
