摘要
在构建地区科技金融发展体系对我国30个省(区、市)科技金融发展水平进行测算的基础上,构建面板模型对地区宏观科技金融发展水平对微观企业研发投入的作用进行实证分析。研究发现:(1)科技金融发展对企业研发投入存在正向激励作用,且主要通过科技资本市场和风险投资发生作用;(2)科技金融发展对企业研发投入的作用存在所有制差异和研发强度差异,非国有企业和高研发强度企业获得的科技金融支持作用更强。
On the basis of constructing the regional sci-tech financial development system to evaluate the sci-tech financial development level of 30 provinces(autonomous regions and cities) in China, this paper constructs several panel models to analyze the effect of the development level of regional macro sci-tech finance on the R&D investment of micro firms. The results show as follows:(1) The development of sci-tech finance has positive incentive effect on firm’s R&D investment, which mainly comes from the sci-tech capital market and venture capital investment.(2) There are ownership differences and R&D intensity differences in the effect of sci-tech financial development on firm’s R&D investment, non-state-owned firms and firms with high R&D investment intensity receive greater support from the development of sci-tech finance.
作者
陈建丽
Chen Jianli(School of Physical and Mathematical Sciences,Nanjing Tech University,Nanjing 211816,China;School of Economics&Management,Nanjing University of Science and Technology,Nanjing 210094,China)
出处
《科技管理研究》
CSSCI
北大核心
2020年第14期131-139,共9页
Science and Technology Management Research
基金
江苏省教育厅高校哲学社会科学研究项目“科技金融发展与企业研发融资约束缓解研究”(2016SJB630026)。
关键词
科技金融发展
融资约束
研发投入
development of sci-tech finance
financing constraints
R&D investment
