区域科技金融投入与中小企业创新能力研究——来自中小板和创业板127家上市公司数据的经验证据

发布时间：2018-02-15 10:45

本文关键词： 科技金融中小企业企业创新能力创业风险投资　出处：《技术经济与管理研究》2017年02期 　论文类型：期刊论文

【摘要】：中小企业是开展科技创新活动的"生力军"。提高中小企业创新能力,对于我国当前阶段下实施创新驱动发展战略具有至关重要的意义。在分析影响我国中小企业创新能力提升的关键要素的基础上,以2005-2015年中小板、创业板127家上市公司及其所处省市的科技金融投入均衡面板数据为例,建立动态面板系统GMM模型,实证检验不同渠道的区域科技金融投入对中小企业创新能力提升的影响。研究发现:财政科技投入和创业风险投资对中小企业创新有正向促进作用,但银行贷款和资本市场的技术创新促进效果不明显,有时甚至表现为抑制作用;此外,科技金融发展程度不同的地区,科技金融投入的创新驱动效果也存在一定差异,科技金融成熟度越高的省市,其提升企业创新能力的作用越强。
[Abstract]:Small and medium-sized enterprises are the "fresh force" to carry out scientific and technological innovation activities. It is of great significance for our country to implement the strategy of innovation-driven development in the current stage. Based on the analysis of the key factors that affect the improvement of the innovation ability of small and medium-sized enterprises in China, the small and medium-sized board of China from 2005 to 2015 is adopted. As an example, a dynamic panel system (GMM) model is established for 127 listed companies in gem and their provinces and cities. Empirical test of the different channels of regional science and technology finance investment on SMEs innovation ability. The study found that: financial investment and venture capital to SMEs innovation positive role, But the promotion effect of bank loan and capital market technology innovation is not obvious, and sometimes it even has a restraining effect. In addition, the innovation driving effect of science and technology finance investment is also different in different areas with different degree of development of science and technology finance. The higher the maturity of science and technology finance, the stronger the role of promoting the innovation ability of enterprises.
【作者单位】：河北工业大学经济管理学院;
【基金】：河北省高等学校人文社会科学研究项目(BJ2016067)
【分类号】：F832.51;F273.1

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