本文選題：債務(wù)結(jié)構(gòu) + 創(chuàng)新�。� 參考：《科研管理》2016年04期

【摘要】：論文嵌入中國(guó)情境,利用3SLS方法探究中國(guó)制造業(yè)國(guó)有企業(yè)債務(wù)結(jié)構(gòu)如何影響企業(yè)的創(chuàng)新投入和創(chuàng)新產(chǎn)出。由實(shí)證結(jié)果發(fā)現(xiàn),國(guó)有流動(dòng)債務(wù)負(fù)向影響創(chuàng)新投入,正向影響創(chuàng)新產(chǎn)出;然而,長(zhǎng)期債務(wù)負(fù)向影響創(chuàng)新產(chǎn)出,對(duì)創(chuàng)新投入的影響并不明顯。國(guó)有企業(yè)高投入、低效率的創(chuàng)新現(xiàn)狀表明,委托代理沖突是國(guó)有企業(yè)代理問題的主要矛盾。從創(chuàng)新效率的角度來看,適度地提高流動(dòng)債務(wù)比例、降低長(zhǎng)期債務(wù)比例,有助于降低代理成本,提高創(chuàng)新績(jī)效。
[Abstract]:It is found from the empirical results that the negative impact of state - owned liquid debt on innovation input and innovation output is not obvious . However , the current situation of high input and low efficiency of state - owned enterprises indicates that the principal contradiction between the high input and low efficiency of state - owned enterprises is that the principal contradiction between the high input and low efficiency of state - owned enterprises is that the principal contradiction between the high input and low efficiency of state - owned enterprises is that the principal contradiction between the high investment and low efficiency of state - owned enterprises is that the principal contradiction between the high investment and low efficiency of state - owned enterprises is that the principal contradiction between the high investment and low efficiency of state - owned enterprises is the main contradiction of the agency problem of state - owned enterprises . From the viewpoint of innovation efficiency , it is helpful to increase the proportion of current debt , reduce the proportion of long - term debt , and help to reduce the agency cost and improve the performance of innovation .

【作者單位】： 北京郵電大學(xué)經(jīng)濟(jì)管理學(xué)院;河南財(cái)經(jīng)政法大學(xué)工商管理學(xué)院;
【基金】：中國(guó)科學(xué)技術(shù)部國(guó)際合作司“中外創(chuàng)新對(duì)話專項(xiàng)”研究重大課題,“中美兩國(guó)貿(mào)易和外資政策及實(shí)踐對(duì)創(chuàng)新活動(dòng)的影響研究” 國(guó)家自然科學(xué)基金面上項(xiàng)目(71273035、71073087、71573023)
【分類號(hào)】：F275;F276.1

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2 陳孔軍;;論上市公司的債務(wù)結(jié)構(gòu)與公司治理的關(guān)系[J];現(xiàn)代商業(yè);2008年24期

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