摘要
基于信号传递理论探析产学研合作模式对于企业获取融资的作用机理,采用博弈论的方法分析产学研合作信号的传递过程。搜集上市公司的数据,运用双重差分、Logit模型实证检验产学研合作在企业贷款融资中的信号作用。结果发现,产学研合作模式有利于缓解企业与银行间的信息不对称,对银行产生积极信号传递功能,相比较银行长期贷款,产学研合作对于银行短期贷款的促进作用更明显,信号功能显著。
Based on the theory of signal transmission,this paper explores the mechanism of industry-university-research collaboration for enterprises to obtain financing,and analyses the signal transmission process by game theory. By collecting data from listed companies,the paper uses DID model and Logit model to empirically test the signaling role of industry-university-research cooperation in corporate loan financing. Result shows that the collaboration model of industry-university-research is helpful to alleviate the asymmetry of information between enterprises and banks,and has a positive signal transmission function to banks loan. Compared with the long-term loans of banks,the signal function is more remarkable for the short-term loans.
作者
刘家树
刘紫舒
LIU Jia-shu;LIU Zi-shu(School of Business,AnHui University of Technology,Maanshan 24300)
出处
《软科学》
CSSCI
北大核心
2018年第10期29-33,共5页
Soft Science
基金
国家社会科学基金一般项目(18BJY225)
安徽省自然科学基金一般项目(1608085MG151)
安徽高校人文社会科学研究重大项目(SK2014ZD017)
关键词
产学研合作
企业融资
信号传递
industry-university-research
enterprise financing
signal transmission
