高新技术企业创业能力、创新类型与融资方式关系研究  

A Study on the Relationship among Entrepreneurial Competence,Innovation Types and Financing Choices in High-tech Companies

作　　者：梅德强[1] 龙勇[1] 

机构地区：[1]重庆大学经济与工商管理学院,重庆400030

出　　处：《管理评论》2012年第1期67-74,共8页Management Review

基　　金：国家自然科学基金项目(70672012);教育部新世纪优秀人才支持计划项目(NCET-07-0906)

摘　　要：创新是企业实现竞争优势的主要方式,而企业创业能力和资本来源是实现创新的保障。本文利用我国164例中小型高新技术企业,检验创业能力、创新类型和融资方式之间的关系。结果表明,机会能力与突破性创新、风险资本融资程度呈正向关系,而运作能力与渐进性创新、债务融资程度呈正向关系,突破性创新方式与风险资本融资程度呈正向关系,与债务融资程度呈负向关系,而渐进性创新与债务融资程度呈正向关系,与风险资本融资呈负向影响关系。Entrepreneurial competence and financing source is critically important to innovation which can help firms gain sustaining competitive advantages. In this study we analyze the relationship among entrepreneurial competence, innovation types and financing choices. An empirical research is conducted with a sample of 164 high-tech companies. The results indicate that opportunity capability is associated with radical innovative and venture capital, whereas the operational capability is conducive to incremental innovation and debt. Furthermore, radical innovation leads to venture capital but has negative impact on debt; incremental innovation leads to debt but has negative impact on venture caoital.

关 键 词：创业能力 创新类型 风险资本融资 资源基础观 

分 类 号：F276.44[经济管理—企业管理] F224[经济管理—国民经济]