制造业企业债务结构对企业创新投入的影响研究

Research on the Impact of Manufacturing Enterprise Debt Structure on Enterprise Innovation Investment

利用2016—2020年我国制造业上市公司的数据,运用线性回归模型,实证研究了债务结构对制造业企业创新投入的影响,研究发现:制造业企业债务结构与企业创新投入成负相关。在进行了稳定性检验后,结论依然成立。根据分析结果,企业发展中应该权衡债务风险与企业创新收入,以提高企业竞争力。

Using the data of listed manufacturing companies in China from 2016 to 2020 and using the linear regression model, this paper empirically studies the impact of debt structure on innovation investment of manufacturing enterprises. The results show that the debt financing structure of manufacturing industry is negatively correlated with innovation investment. After using the stability test, the conclusion of this paper is still valid. According to the analysis results, the following suggestions are put forward: manufacturing enterprises should pay attention to enterprise debt structure, improve enterprise capital sources, and strive to improve enterprise innovation investment in order to strengthen their competitiveness.