| 融资约束对创新项目投资决策的影响研究 |
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| 引用本文： | 扈文秀,孙伟,柯峰伟.融资约束对创新项目投资决策的影响研究[J].科学学与科学技术管理,2009,30(3). |
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| 作者姓名： | 扈文秀 孙伟 柯峰伟 |
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| 作者单位： | 西安理工大学,工商管理学院,西安,710054 |
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| 基金项目： | 教育部哲学社会科学研究后期项目，陕西省教育厅专项科研计划 |
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| 摘 要： | 技术创新投资具有风险性高和信息不对称的特点,使得企业不能够对融资约束有清晰的识别,企业外部投资者也会降低投资意愿,导致创新投资倾向与融资约束的矛盾更加突出.在将技术创新企业进行分类的情形下,应用双变量递归概率方法,研究了融资约束对技术创新项目投资决策的影响.选取西安经济技术开发区部分制造业企业为样本,通过建立投资偏好概率决策模型.运用回归分析方法揭示了样本企业融资约束的影响因素及其对创新投资决策的影响程度.
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| 关 键 词： | 融资约束 技术创新 投资决策 |
The Impact of Financial Constraint on the Decision for Comprise Technology Innovation Items Investment |
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| HU Wenxiu,SUN Wei,KE Fengwei.The Impact of Financial Constraint on the Decision for Comprise Technology Innovation Items Investment[J].Science of Science and Management of S.& T.,2009,30(3). |
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| Authors: | HU Wenxiu SUN Wei KE Fengwei |
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| Institution: | School of Business and Administration;Xi'an University of Technology;Xi'an 710054;China |
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| Abstract: | Technological innovation investment has the features of high risk and asymmetry information. The enterprise cannot identify the financial constraint clearly and the external investors can decrease investment desire, which lead to more conflict between investment inclination and financial constraint. With the classi-fication of the technological innovation enterprise, using the recursion divaricated probability model, this pa-per studies the impact of financial constraint on the decision for comprise technol... |
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| Keywords: | financial constraint technology innovation investment decision |
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