中国货币政策对高科技企业的影响研究  

Research of the Effect of Chinese Monetary Policies on Hi-tech Companies

作　　者：吴建环[1] 席莹[2] 

机构地区：[1]复旦大学金融研究院 [2]上海大学悉尼工商学院,上海201800

出　　处：《预测》2008年第4期16-19,共4页Forecasting

摘　　要：伯南科(Bernanke)1996年提出的金融加速器理论近年来引起了众多学者的关注。本文运用该理论和中国2002年至2007年第2季度的数据,实证分析了货币政策对不同规模高科技企业的影响,研究证实了金融加速器效应的不对称现象,发现货币政策对高科技小企业投资和净值的影响比对高科技大企业的影响更为显著。这意味着在制定促进高科技企业发展的金融政策时需要考虑金融加速器的这种效应。Bernanke put forward the Theory of Financial Accelerator in 1996, which has attracted the attention of many researchers in the world, The relevant seasonal data of China from 2002 to the second season of 2007 adopted, we have studied the Financial Accelerator Effect of Chinese monetary policies using the hi-tech listed companies of different size as sample, We prove the asymmetry of Financial Accelerator Effect, and find the effects on the investment and net worth of small companies are more significant than those of large companies. The finding implicates that the Financial Accelerator Effect should be taken into consideration when we conduct financial policies to improve the development of hi-tech companies.

关 键 词：金融加速器 高科技上市公司 投资 净值 

分 类 号：F830.9[经济管理—金融学]