融资约束、风险承担与战略性新兴产业企业创新效率

Financing Constraints,Risk-taking and Innovation Efficiency of Strategic Emerging Enterprises

采用战略性新兴产业企业2013-2017年数据,探讨融资约束、风险承担与创新效率三者之间的关系。结果表明:融资约束与企业创新效率显著负相关;与非民营战略性新兴企业相比,民营战略性新兴企业融资约束对创新效率的负向作用更显著;风险承担缓解了两者之间的负向关系,这种缓解作用在民营战略性企业中更显著。

Using the data of strategic emerging enterprises 2013-2017,the relationship between financing constraints,risk-taking and innovation efficiency is studied.The results show that:Financing constraints have a significant negative correlation with enterprise innovation efficiency;compared with non-private strategic emerging enterprises,private strategic emerging enterprises financing constraints have a stronger negative effect on innovation efficiency;Risk-taking can alleviate the negative relationship between the two,which is more significant in private strategic enterprises.