企业技术开发融资与金融风险  

Firm technological innovation financing and financial risk

作　　者：孙军[1] 蔡中华[1] 邵鲁宁[1] 

机构地区：[1]北京化工大学经济管理学院,北京100029

出　　处：《北京化工大学学报（自然科学版）》2009年第B11期116-119,共4页Journal of Beijing University of Chemical Technology(Natural Science Edition)

基　　金：国家自然科学基金(70502006);北京化工大学青年科学基金(QN0630)

摘　　要：通过建立动态模型分析了企业借助金融中介进行技术开发融资时金融风险对技术进步和经济增长的影响,在引入加权金融相关比率的条件下,得出了经济系统中加权金融相关比率所必须满足的参数条件。结果表明经济系统中存在一个由技术水平、资本的产出弹性、社会储蓄率和与市场利率决定的安全上限,如果加权金融相关比率超过这一上限,则会产生较高的金融风险并导致金融危机。By established a dynamic model, this paper analyze the relationship between the financial risk and economic growth when firms using the financial intermediaries to carry out technology innovation financing. It introduces the weighted-related financial ratios under the conditions of the economy reached weighted system-related financial ratios. The results show that there has a maximum safe boundary determinted by the level of technology, capital and output flexibility, social savings rates and market interest rates, if the weighted-related financial ratios exceed the upper limit, the real economy system will have a higher financial risks and lead to financial crisis,

关 键 词：经济增长 金融风险 金融中介 技术开发融资 

分 类 号：F270[经济管理—企业管理]