企业研发投入影响因素的随机效应分析

发布时间：2018-07-04 09:51

本文选题：随机效应 + 双边随机效应模型　；参考：《成都理工大学》2017年硕士论文

【摘要】：随机效应模型广泛的应用在经济、医学、生物、心理等领域。在现实中,很多事件都会受到诸多因素的影响,这些因素根据其本身的特性可分为确定的和随机的,确定性的因素是可控的,而随机性的因素是不可控的具有随机性。随机性的因素是随机效应模型研究的重点。影响其企业研发投入的因素是随机的,是不可控的,因此研究这些因素是如何影响企业研发投入的。本文基于双边随机效应模型,研究影响企业研发投入的因素。主要分析融资约束和政府补贴这两个因素对企业研发投入的影响。由于融资约束对企业研发投入存在着负效应,而政府补贴对企业研发投入存在着正效应,这两个因素都具有单边分布的特点,同时也符合双边分布。所以选用双边随机效应模型来描述企业研发投入影响因素。通过构建双边随机效应模型,对模型采用最大似然法进行估计,用最大似然比检验对统计量进行检验。以2013年至2015年创业板高新技术上市公司为研究样本。并按照企业的规模、地区、性质分为三类不同的类型的样本来进一步的分析。研究发现:在创业板高新技术上市公司中,企业的研发投入会因为受到政府补贴而有所增加,使企业拥有更多的资金用于研发投入,产生正效应;而企业的研发投入则会受到融资约束而会有所减少,融资约束使企业研发投入受到抑制,产生负效应。政府补助虽然促进了企业研发的投入但是并不能完全消除企业研发投入面临的融资约束带来的消极影响。而且在不同样本下的企业研发投入影响因素的情况也不尽相同
[Abstract]:Stochastic effect models are widely used in economics, medicine, biology, psychology and so on. In reality, many events will be affected by many factors, these factors can be divided into certain and random according to their own characteristics, deterministic factors are controllable, and random factors are uncontrollable and stochastic. Randomness is the focus of the stochastic effect model. The factors influencing R & D investment are random and uncontrollable, so how these factors affect R & D investment is studied. Based on the bilateral stochastic effect model, this paper studies the factors that affect R & D investment. This paper mainly analyzes the influence of financing constraints and government subsidies on R & D investment. Because of the negative effect of financing constraint on enterprise R & D investment, and the positive effect of government subsidy on R D investment, these two factors have the characteristics of unilateral distribution and bilateral distribution. So two-sided stochastic effect model is used to describe the influencing factors of R & D investment. By constructing a two-sided stochastic effect model, the maximum likelihood method is used to estimate the model and the maximum likelihood ratio test is used to test the statistics. In 2013 to 2015 gem high-tech listed companies as a research sample. And according to the size, region, nature of the enterprise is divided into three different types of samples to further analysis. The study found that: in the gem high-tech listed companies, the R & D investment of enterprises will be increased because of government subsidies, so that enterprises have more funds for R & D investment, which has a positive effect; However, the R & D investment of the enterprise will be reduced by the financing constraint, which will restrain the R & D investment of the enterprise and produce the negative effect. Government subsidies can not completely eliminate the negative effects of financing constraints on enterprise R & D investment although it promotes R & D investment. Moreover, the factors affecting R & D investment in different samples are different.
【学位授予单位】：成都理工大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F273.1;F224

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