金融环境、产融结合与我国企业成长
发布时间：2019-03-15 11:47
【摘要】：企业成长是一国经济发展的重要微观基础。本文结合我国的金融环境,通过理论分析与实证研究相结合的方法,研究产融结合对我国企业成长的影响。研究表明:参股金融机构能够促进我国企业的成长,但只有持股比例达到一定程度,这一促进效应才能有效发挥。进一步的影响机制研究表明,融资约束的缓解与创新能力的增加是产融结合促进企业成长的重要渠道。最后,本文还考虑了外部金融环境的影响,研究发现虚拟经济与实体经济协调发展程度、地区金融发展水平等外部金融环境因素能够显著影响产融结合对我国企业成长的促进效应。
[Abstract]:Enterprise growth is an important micro-foundation of a country's economic development. Based on the financial environment of our country, this paper studies the influence of the combination of industry and finance on the growth of Chinese enterprises by means of the combination of theoretical analysis and empirical research. The research shows that the participating financial institutions can promote the growth of Chinese enterprises, but only when the proportion of shareholding reaches a certain extent, the promotion effect can be brought into play effectively. Further research on the impact mechanism shows that the mitigation of financing constraints and the increase of innovation ability are the important channels to promote the growth of enterprises through the combination of industry and finance. Finally, the paper also considers the influence of external financial environment, and finds that the virtual economy and the real economy develop harmoniously. The external financial environment factors, such as the level of regional financial development, can significantly affect the promoting effect of the combination of industry and finance on the growth of enterprises in China.
【作者单位】： 中国海洋大学管理学院;
【基金】：广义虚拟经济研究专项课题“广义虚拟经济视角下虚拟经济对企业投资行为的影响研究”(GX2015-1010(Y)) 教育部人文社科基金项目“金融不稳定指标体系及其对宏观经济影响的测度模型研究”(11YJA790156)
【分类号】：F832;F279.2
[Abstract]:Enterprise growth is an important micro-foundation of a country's economic development. Based on the financial environment of our country, this paper studies the influence of the combination of industry and finance on the growth of Chinese enterprises by means of the combination of theoretical analysis and empirical research. The research shows that the participating financial institutions can promote the growth of Chinese enterprises, but only when the proportion of shareholding reaches a certain extent, the promotion effect can be brought into play effectively. Further research on the impact mechanism shows that the mitigation of financing constraints and the increase of innovation ability are the important channels to promote the growth of enterprises through the combination of industry and finance. Finally, the paper also considers the influence of external financial environment, and finds that the virtual economy and the real economy develop harmoniously. The external financial environment factors, such as the level of regional financial development, can significantly affect the promoting effect of the combination of industry and finance on the growth of enterprises in China.
【作者单位】： 中国海洋大学管理学院;
【基金】：广义虚拟经济研究专项课题“广义虚拟经济视角下虚拟经济对企业投资行为的影响研究”(GX2015-1010(Y)) 教育部人文社科基金项目“金融不稳定指标体系及其对宏观经济影响的测度模型研究”(11YJA790156)
【分类号】：F832;F279.2
【参考文献】
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