摘要
提升战略性新兴企业发展的金融支持效率,促进战略性新兴企业高质量发展具有重要的战略意义。本文运用广东省战略性新兴企业上市公司数据,采用面板SFA模型估计金融支持效率。研究发现:广东省战略性新兴企业的金融支持效率仍有优化空间,与股权融资相比债权融资对企业产出影响更大;金融支持效率与利率、企业规模、研发力度、股权集中、企业的产权性质等因素显著正相关。基于此,应优化企业外部融资环境提升金融支持效率,创新金融服务满足战略性新兴产业融资需求,优化企业治理提升融资能力。
It is of great strategic significance to improve the financial support efficiency for the development of strategic emerging enterprises and promote the high-quality development of strategic emerging enterprises. This paper uses the data of listed companies of strategic emerging enterprises in Guangdong Province, and uses the panel SFA model to estimate the efficiency of financial support. The research finds that there is still room for optimizing the financial support efficiency of strategic emerging enterprises in Guangdong Province. Compared with equity financing, debt financing has a greater impact on enterprise output;The efficiency of financial support is significantly and positively related to such factors as interest rate, enterprise scale, R&D strength, equity concentration, and the nature of enterprise property rights. Based on this, we should optimize the external financing environment of enterprises to improve the efficiency of financial support, innovate financial services to meet the financing needs of strategic emerging industries, and optimize corporate governance to improve financing capacity.
出处
《价格理论与实践》
北大核心
2022年第6期91-94,193,共5页
Price:Theory & Practice
基金
广东省哲学社会科学规划项目(GD18XYJ20)
广东省普通高校特色创新项目(2020WTSCX312)
广东省普通高校青年人才项目(2020WQNCX244)
广东省教育科学规划项目(2020GXJK252)
广州市科技计划项目(202201011685)
广州城建职业学院人文社科项目(2022SKY09)。
关键词
战略性新兴企业
金融支持效率
股权融资
债权融资
SFA模型
strategic emerging enterprises
financial support efficiency
equity financing
Debt financing
SFA model
