银行业结构、政府补助与企业技术创新
发布时间：2018-08-06 18:23
【摘要】：技术创新是决定国家经济增长的重要因素,是驱动经济发展的动力。从企业角度而言,技术创新不仅是企业核心竞争力聚集的动力,也是实现企业可持续发展的关键。企业研发活动是科技创新的必经过程,在企业技术创新活动过程中资金和人力资源是最为关键的两个要素,对于人力资源而言,决定这一要素的关键依然是资金,故企业技术创新最为关键的要素投入就是资金投入。企业技术创新所需要的资金支持主要依靠两个渠道,其一是从金融市场获得资金支持,其二是各国政府提供的研发补助,各个国家为加强自身企业的竞争能力,会聚焦在企业技术创新的动态活动上,并在政府层面对其所需资金予以援助。已有文献基于融资角度对银行业和政府补助对企业技术创新的影响,从理论层面和实证层面均进行了大量的研究,多角度的对其关系及影响进行了分析。从融资视角对企业技术创新进行探究,其主要资金来源为以银行业为主导的金融市场和直接影响技术创新投入环节的政府补助,两种资金的来源分别代表了企业技术创新的不同动因,在我国当前的情况下,市场和政府哪方面才是企业技术创新的内源动因?哪种资金支持对于企业技术创新效率的影响又会更为显著?本文以全面综述国内外相关研究成果为出发点,以2009-2015年的我国沪深两市A股上市公司为样本,综合运用技术创新理论、金融结构理论、利益相关者理论、软预算约束、投入产出理论、要素禀赋等相关理论,综合运用规范分析的方法与实证检验的方法,考察银行业结构和政府补助对企业技术创新投入与产出的影响,以及对企业技术创新效率的影响。研究发现银行业结构越分散,企业技术创新投入强度越大,银行业结构的集中程度对企业技术创新投入有显著的负向影响;政府补助显著提高了公司技术创新投入强度,政府补助的集中程度对企业技术创新投入有显著的正向影响;相较于银行业结构,政府补助对企业技术创新投入影响更为显著;相较于政府补助,银行业结构对企业技术创新产出影响更为显著;通过对技术创新投入、产出的前后对比,以技术创新的资金投入为切入点,可以认为企业技术创新的动因是市场选择并非政府驱动;聚集的银行业结构会降低企业的创新效率,分散的银行业结构可以促进企业的创新效率,而政府补助并不能够对企业的创新效率起到显著的促进作用。
[Abstract]:Technological innovation is an important factor to determine the national economic growth and the driving force of economic development. From the point of view of enterprise, technological innovation is not only the driving force of enterprise core competence aggregation, but also the key to realize the sustainable development of enterprise. Enterprise R & D is a necessary process of scientific and technological innovation. In the process of enterprise technological innovation, funds and human resources are the two most critical elements. For human resources, the key to determine this factor is still funds. Therefore, the most key element of enterprise technological innovation input is capital investment. The financial support needed by enterprises for technological innovation mainly depends on two channels. One is to obtain financial support from the financial market, the other is the research and development subsidies provided by various governments. In order to strengthen the competitiveness of their enterprises, Will focus on the dynamic activities of enterprise technological innovation, and at the government level to provide financial assistance to them. Based on the influence of banking and government subsidies on technological innovation of enterprises, literature has carried out a lot of research from both theoretical and empirical aspects, and has analyzed its relationship and impact from various angles. This paper probes into the technological innovation of enterprises from the perspective of financing. Its main source of funds is the financial market dominated by the banking industry and the government subsidy which directly affects the investment link of technological innovation. The two sources of funds represent the different drivers of enterprise technological innovation. Under the current situation in our country, what is the internal motivation of enterprise technological innovation in the market or the government? What kind of financial support will have a more significant impact on the efficiency of enterprise technological innovation? Based on a comprehensive review of domestic and foreign related research results, this paper takes the A-share listed companies of Shanghai and Shenzhen stock markets in China from 2009-2015 as a sample, synthetically applies technology innovation theory, financial structure theory, stakeholder theory, soft budget constraint. Input-output theory, factor endowment theory and other relevant theories, comprehensive use of normative analysis method and empirical test method, to investigate the banking structure and government subsidies on the impact of technological innovation inputs and outputs, And the impact on the efficiency of technological innovation. It is found that the more dispersed the banking structure is, the greater the investment intensity of technological innovation of enterprises is, and the degree of concentration of banking structure has a significant negative effect on the investment of technological innovation of enterprises, and the government subsidy has significantly increased the intensity of technological innovation investment of companies. The concentration of government subsidies has a significant positive impact on enterprise technological innovation investment; compared with the banking structure, government subsidies have a more significant impact on enterprise technological innovation investment; compared with government subsidies, The banking structure has a more significant impact on the technological innovation output of enterprises, and through the comparison of technological innovation input and output, the capital input of technological innovation is the starting point. It can be concluded that the motivation of technological innovation of enterprises is that market choice is not driven by government, and that the agglomeration of banking structure will reduce the innovation efficiency of enterprises, and the decentralized banking structure can promote the innovation efficiency of enterprises. And the government subsidy can not play a significant role in promoting the innovation efficiency of enterprises.
【学位授予单位】：石河子大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F273.1;F832;F812.45
本文编号：2168598
[Abstract]:Technological innovation is an important factor to determine the national economic growth and the driving force of economic development. From the point of view of enterprise, technological innovation is not only the driving force of enterprise core competence aggregation, but also the key to realize the sustainable development of enterprise. Enterprise R & D is a necessary process of scientific and technological innovation. In the process of enterprise technological innovation, funds and human resources are the two most critical elements. For human resources, the key to determine this factor is still funds. Therefore, the most key element of enterprise technological innovation input is capital investment. The financial support needed by enterprises for technological innovation mainly depends on two channels. One is to obtain financial support from the financial market, the other is the research and development subsidies provided by various governments. In order to strengthen the competitiveness of their enterprises, Will focus on the dynamic activities of enterprise technological innovation, and at the government level to provide financial assistance to them. Based on the influence of banking and government subsidies on technological innovation of enterprises, literature has carried out a lot of research from both theoretical and empirical aspects, and has analyzed its relationship and impact from various angles. This paper probes into the technological innovation of enterprises from the perspective of financing. Its main source of funds is the financial market dominated by the banking industry and the government subsidy which directly affects the investment link of technological innovation. The two sources of funds represent the different drivers of enterprise technological innovation. Under the current situation in our country, what is the internal motivation of enterprise technological innovation in the market or the government? What kind of financial support will have a more significant impact on the efficiency of enterprise technological innovation? Based on a comprehensive review of domestic and foreign related research results, this paper takes the A-share listed companies of Shanghai and Shenzhen stock markets in China from 2009-2015 as a sample, synthetically applies technology innovation theory, financial structure theory, stakeholder theory, soft budget constraint. Input-output theory, factor endowment theory and other relevant theories, comprehensive use of normative analysis method and empirical test method, to investigate the banking structure and government subsidies on the impact of technological innovation inputs and outputs, And the impact on the efficiency of technological innovation. It is found that the more dispersed the banking structure is, the greater the investment intensity of technological innovation of enterprises is, and the degree of concentration of banking structure has a significant negative effect on the investment of technological innovation of enterprises, and the government subsidy has significantly increased the intensity of technological innovation investment of companies. The concentration of government subsidies has a significant positive impact on enterprise technological innovation investment; compared with the banking structure, government subsidies have a more significant impact on enterprise technological innovation investment; compared with government subsidies, The banking structure has a more significant impact on the technological innovation output of enterprises, and through the comparison of technological innovation input and output, the capital input of technological innovation is the starting point. It can be concluded that the motivation of technological innovation of enterprises is that market choice is not driven by government, and that the agglomeration of banking structure will reduce the innovation efficiency of enterprises, and the decentralized banking structure can promote the innovation efficiency of enterprises. And the government subsidy can not play a significant role in promoting the innovation efficiency of enterprises.
【学位授予单位】：石河子大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F273.1;F832;F812.45
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