本文選題：中小企業(yè) + 技術(shù)創(chuàng)新價值��； 參考：《燕山大學(xué)》2013年碩士論文

【摘要】：企業(yè)價值與資本結(jié)構(gòu)的研究一直是國內(nèi)外學(xué)者們重點關(guān)注之一，國外學(xué)者大多從傳統(tǒng)資本結(jié)構(gòu)和平衡理論出發(fā)研究兩者的關(guān)系，國內(nèi)學(xué)者主要依據(jù)經(jīng)典理論直接談及兩者的單調(diào)關(guān)系，進而提出優(yōu)化資本結(jié)構(gòu)方案，，促進企業(yè)價值的增長。經(jīng)典資本理論已經(jīng)相當(dāng)成熟，現(xiàn)需要尋找新的契機點談及兩者關(guān)系。 首先，闡述了本文的研究背景和研究意義，通過對國內(nèi)外技術(shù)創(chuàng)新價值以及融資與資本結(jié)構(gòu)的相關(guān)研究成果的回顧中發(fā)現(xiàn)，對中小企業(yè)技術(shù)創(chuàng)新價值理論的研究還處于初級階段，并未形成較全面審視的理論體系；國外學(xué)者較先引進戰(zhàn)略管理理論，分析技術(shù)創(chuàng)新價值與資本結(jié)構(gòu)關(guān)系，而國內(nèi)學(xué)者在此方面探討兩者關(guān)系的研究并不多，所以本文以產(chǎn)業(yè)組織和戰(zhàn)略觀的資本結(jié)構(gòu)理論為切入點，談及技術(shù)創(chuàng)新價值與資本結(jié)構(gòu)的關(guān)聯(lián)性。 其次，界定了中小企業(yè)技術(shù)創(chuàng)新價值的概念，技術(shù)創(chuàng)新價值是物質(zhì)價值與精神價值的綜合表現(xiàn)形式，分析后，認為中小企業(yè)技術(shù)創(chuàng)新價值主要通過技術(shù)創(chuàng)新的經(jīng)濟價值得以體現(xiàn)，而經(jīng)濟價值的衡量主要包括創(chuàng)新產(chǎn)出。隨后，闡述了本文的理論基礎(chǔ)，即技術(shù)創(chuàng)新價值理論和基于產(chǎn)業(yè)組織和戰(zhàn)略管理的資本結(jié)構(gòu)理論。 再次，通過構(gòu)建中小企業(yè)技術(shù)創(chuàng)新價值與資本結(jié)構(gòu)SEM模型闡述技術(shù)創(chuàng)新價值與資本結(jié)構(gòu)的相關(guān)性。通過對河北省中小企業(yè)技術(shù)創(chuàng)新問卷調(diào)查，數(shù)據(jù)整理，結(jié)合戰(zhàn)略要素，即創(chuàng)新強度、環(huán)境因素研究資本結(jié)構(gòu)與技術(shù)創(chuàng)新價值的影響。 最后，提出本文結(jié)論，發(fā)現(xiàn)在影響創(chuàng)新產(chǎn)出的因素中，創(chuàng)新資源的基礎(chǔ)性作用得到了證實，主要利用自有資金來進行技術(shù)創(chuàng)新并不能刺激技術(shù)創(chuàng)新價值增長，資本結(jié)構(gòu)通過創(chuàng)新強度間接刺激創(chuàng)新價值；自身環(huán)境的優(yōu)化力度不夠，不能刺激中小企業(yè)擴大融資渠道。針對本文研究結(jié)論，從強化中小企業(yè)自身建設(shè)，優(yōu)化中小企業(yè)技術(shù)創(chuàng)新投資結(jié)構(gòu)，建立戰(zhàn)略聯(lián)盟體系，加強企業(yè)知識產(chǎn)權(quán)管理和優(yōu)化社會環(huán)境，五個角度提出了相關(guān)建議。
[Abstract]:The study of enterprise value and capital structure has always been one of the key concerns of scholars at home and abroad. Foreign scholars mostly study the relationship between the two from the traditional capital structure and balance theory. According to the classical theory, domestic scholars directly talk about the monotonic relationship between the two, and then put forward the plan of optimizing capital structure to promote the growth of enterprise value. Classical capital theory has been quite mature, now need to find new opportunities to talk about the relationship between the two. First of all, the research background and significance of this paper are expounded, through the review of the value of technological innovation and the related research results of financing and capital structure at home and abroad, The research on the theory of technological innovation value of small and medium-sized enterprises is still in the primary stage, and has not formed a more comprehensive theoretical system, foreign scholars have introduced the strategic management theory to analyze the relationship between the value of technological innovation and the capital structure. However, there are not many researches on the relationship between the two in this aspect, so this paper takes the capital structure theory of industrial organization and strategic view as the starting point, and discusses the correlation between the value of technological innovation and the capital structure. Secondly, it defines the concept of technological innovation value of small and medium-sized enterprises, which is the comprehensive manifestation of material value and spiritual value. It is considered that the value of technological innovation of small and medium-sized enterprises is mainly reflected by the economic value of technological innovation, and the measurement of economic value mainly includes innovation output. Then, the paper expounds the theoretical basis of this paper, namely, the value theory of technological innovation and the capital structure theory based on industrial organization and strategic management. Thirdly, the relationship between technological innovation value and capital structure is explained by constructing SEM model of technological innovation value and capital structure. Based on the questionnaire survey of technological innovation of small and medium-sized enterprises in Hebei Province, the paper analyzes the influence of capital structure and value of technological innovation by combining the strategic elements, namely, innovation intensity and environmental factors. Finally, this paper concludes that among the factors affecting innovation output, the basic role of innovation resources has been confirmed, mainly using its own funds to carry out technological innovation can not stimulate the growth of technological innovation value. The capital structure indirectly stimulates the innovation value through the innovation intensity, and the optimization of its own environment is not enough to stimulate the small and medium-sized enterprises to expand the financing channels. In view of the conclusion of this paper, this paper puts forward the relevant suggestions from five aspects: strengthening the construction of small and medium-sized enterprises, optimizing the investment structure of technological innovation of small and medium-sized enterprises, establishing a strategic alliance system, strengthening the management of intellectual property rights of enterprises and optimizing the social environment.
【學(xué)位授予單位】：燕山大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F273.1;F276.3

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