研发投入、股权集中度与初创企业生存能力

R&D Investment,Equity Concentration and Startups Viability

文章基于2018-2020年新三板挂牌公司的面板数据,实证检验了研发投入、股权集中度与初创企业生存能力之间的关系。研究发现:初创企业当期的研发投入与企业生存能力存在着负相关关系;股权集中度的提高能够减弱研发投入对企业生存能力的负向影响,并进一步分析了其在东中西部地区的异质性,为初创企业生存能力提升提供了相关对策建议。

Based on the panel data of NSS listed companies from 2018 to 2020,the relationship among the R&D investment,the equity concentration and the viability of startups is examined empirically.It is found that:there is a negative relationship between the R&D investment and the enterprise viability in the current period of startups;an increase in equity concentration can attenuate the negative impact of R&D investment in enterprise viability,and the further analyses of its heterogeneity in the east,central and western regions provides relevant countermeasure suggestions for startups'viability enhancement.