创业板上市公司持续创新能力研究

发布时间：2018-05-05 15:26

本文选题：创业板上市公司 + 持续创新能力　；参考：《天津商业大学》2013年硕士论文

【摘要】：从1999年证监会答复可以考虑设立创业板市场到2009年10月23日首批28家公司上市,创业板市场的启动经历了十年的风雨。创业板市场的启动对我国中小企业发展和资本市场完善都是一个福音。一直以来，我国经济体制具有特殊性和半市场性，一方面一些大型的国企在市场中占据着垄断地位，并且享受着国家的资金支持。而另外一方面，数量众多为我国国民经济做着巨大贡献的中小企业却会经常面临着资金匮乏的问题。中小企业的发展和投资都需要资金的支持，但是现状是中小企业不能在资金上受到政府的支撑，同时，由于中小企业风险大，银行贷款都存在一定的限额。一旦资金出现问题而不能及时解决，中小企业将会面临着破产的风险，这样将会带来国民经济的损失和一部分工人的失业。创业板市场的产生为具有高成长前景的中小企业提供一个融资平台，可以解决一部分中小企业融资难的问题，企业受益获得资金支持而持续发展。企业的发展将带动创业板的发展，创业板市场的投资者也会获得投资收益，从而形成创业板市场发展的良性循环。一个健全的创业板市场应该培育出一批具有创新性的企业，就像纳斯达克市场上培育出微软和谷歌，中国的创业板市场也应该朝着纳斯达克市场的方向发展。到目前为止，中国的创业板已经成立三年半的时间，在我国特殊的国情下，创业板市场出现一系列的乱像，企业刚刚上市，，公司的高管却掀起了辞职潮，一个个为了套现进行重组的准备。创业板市场超幕大量资金，却无处可用，企业存在着把超幕资金存入银行和投资房地产的现象，造成了资源严重的浪费，违背了创业板市场的初衷。透过重重乱像，本文笔者认为创业板上市公司的核心竞争力和成长力在于其持续创新能力，只有持续创新能力才是企业发展的源源不断的动力。因此本文对创业板上市公司持续创新能力进行研究。为了更好的获得研究结论，本文笔者以创业板和持续创新能力两个方面作为主线进行研究。文章首先对这两条主线进行理论研究和文献综述，在此基础利用因子分析法进行实证研究，然后利用相关分析对因子得分模型进行验证。最后笔者阐述本文的建议结论以及文章的局限性。
[Abstract]:From 1999 CSRC reply can consider setting up gem market to the first batch of 28 companies listed on October 23, 2009, the gem market has experienced ten years of wind and rain. The start of gem market is a good news for the development of small and medium enterprises and the perfection of capital market. China's economic system has always been special and semi-market, on the one hand, some large state-owned enterprises occupy a monopoly position in the market, and enjoy the state's financial support. On the other hand, the large number of small and medium-sized enterprises that have made great contributions to our national economy will often face the problem of lack of funds. The development and investment of small and medium-sized enterprises need capital support, but the present situation is that small and medium-sized enterprises can not be supported by the government on the funds, at the same time, due to the risk of small and medium-sized enterprises, there are certain limits on bank loans. Once the fund problem can not be solved in time, the small and medium-sized enterprises will face the risk of bankruptcy, which will bring the loss of national economy and the unemployment of some workers. The emergence of the gem market provides a financing platform for SMEs with high growth prospects, which can solve the financing difficulties of some SMEs, and the enterprises benefit from the financial support and continue to develop. The development of enterprises will drive the development of the gem, and the investors of the gem market will also get the investment income, thus forming the virtuous circle of the growth enterprise market development. A healthy gem market should foster a number of innovative enterprises, just like Microsoft and Google in the NASDAQ market, and the gem market in China should also develop in the direction of NASDAQ market. Up to now, the gem in China has been established for three and a half years. Under the special conditions of our country, a series of chaotic phenomena have appeared in the gem market. The companies have just listed on the stock market, but the company executives have started a wave of resignation. One by one to cash in preparation for reorganization. There are a lot of funds in the gem market, but there is no place to use them. The phenomenon of depositing the excess funds in banks and investing in real estate has caused a serious waste of resources and violated the original intention of the gem market. Through all kinds of chaos, the author thinks that the core competitiveness and growth ability of gem listed companies lie in their ability of continuous innovation, and only the ability of sustained innovation is the constant driving force of the development of enterprises. Therefore, this paper studies the sustainable innovation ability of gem listed companies. In order to get a better conclusion, the author takes the gem and the ability of continuous innovation as the main line. In this paper, the theoretical research and literature review of the two main lines are first carried out, and then the factor score model is verified by correlation analysis. Finally, the author expounds the conclusions and limitations of the article.
【学位授予单位】：天津商业大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F273.1;F276.6

【引证文献】