联系我们

论文查询结果	返回搜索

论文编号：	11889
作者编号：	2120182961
上传时间：	2020/6/23 16:06:11
中文题目：	财务弹性、高管风险偏好与高科技企业创新绩效研究
英文题目：	Financial Flexibility, Senior Executives'' Risk Preference and Innovation Performance of High-tech Enterprises
指导老师：	李莉
中文关键字：	财务弹性；高管风险偏好；创新绩效；高科技企业
英文关键字：	Financial Flexibility; Senior Executives'' Risk Preference; Innovation Performance; High-tech Enterprises
中文摘要：	国家强盛离不开科技发展，经济进步离不开科技创新，企业作为国家经济发展和创新体系建设的组成部分，如何提升企业创新实力、保持竞争优势成为企业乃至国家关注的重要问题。目前我国大部分企业尤其是高科技企业意识到创新的作用，开始积极展开创新活动，然而如何高效整合和利用企业内部资源、提高从创新投入向创新产出转化的效率，如何有效提升企业创新绩效，成为高科技企业亟需解决的难题。 基于以上研究背景，本文从创新的视角出发，首先进行了理论和文献回顾，基于高阶理论、资源基础理论、委托代理理论和企业创新理论，深入探究了财务弹性对高科技企业创新绩效的作用效果，以及高管风险偏好作为调节变量对财务弹性与创新绩效之间的关系产生的影响。本文选取上市高科技企业为研究对象，收集了2013-2017年的数据为研究样本，构建实证模型，并进行回归分析。本文得到以下结论：（1）财务弹性与高科技企业创新绩效之间呈正相关关系，财务弹性越高，创新绩效越好；（2）高管风险偏好对财务弹性与高科技企业创新绩效之间的关系存在负向调节作用；（3）非国有企业由于高管受到的制度约束和条件限制较少，相较于国有企业而言其决策权和经营自主权更大，因此其风险偏好所起到的调节作用更为显著。 本文的研究结论为高科技企业提升创新实力、增加创新成果提供了参考。高科技企业应当保持充分的财务弹性；优化内部高管选拔机制，构建合理高效的高管团队。本文的意义在于丰富了高科技企业创新绩效的相关研究，拓展了高管风险偏好的研究领域。
英文摘要：	The development of science and technology is inseparable from the country's prosperity, and the economic progress is inseparable from the innovation of science and technology. As an integral part of the national economic development and innovation system construction, how to improve the innovation strength of enterprises and maintain the competitive advantage has become an important issue of concern for enterprises and even the country. At present, most enterprises in China, especially high-tech enterprises, are aware of the role of innovation and start to actively carry out innovation activities. However, how to effectively integrate and utilize the internal resources of enterprises, improve the efficiency of transformation from innovation input to innovation output, and how to effectively improve the innovation performance of enterprises have become a problem that high-tech enterprises need to solve. Based on the above research background, from the perspective of innovation, this paper first reviews the theory and literature, based on the high-level theory, resource-based theory, principal-agent theory and enterprise innovation theory, and deeply explores the effect of financial flexibility on innovation performance of high-tech enterprises, as well as the relationship between financial flexibility and innovation performance of senior executives' risk preference as a regulating variable The impact of life. This paper selects listed high-tech enterprises as the research object, collects the data from 2013 to 2017 as the research sample, constructs the empirical model, and carries on the regression analysis. This paper draws the following conclusions: (1) there is a positive correlation between financial flexibility and innovation performance of high-tech enterprises, the higher the financial flexibility is, the better the innovation performance is; (2) there is a negative regulatory effect on the relationship between financial flexibility and innovation performance of high-tech enterprises by senior managers' risk preference; (3) non-state-owned enterprises are less constrained by institutional constraints and conditions, compared with other countries For some enterprises, their decision-making power and management autonomy are greater, so their risk preference plays a more significant regulatory role. The conclusion of this paper provides a reference for high-tech enterprises to enhance their innovation strength and increase their innovation achievements. High tech enterprises should maintain sufficient financial flexibility, optimize the internal executive selection mechanism, and build a reasonable and efficient executive team. This research design enriches the related research of innovation performance and expands the research field of senior managers' risk preference.
查看全文：	预览  下载(下载需要进行登录)