制度环境对新创企业创业导向的影响——基于创业板的实证研究  

The impact of institutional environments on new ventures' entrepreneurial orientation——the study based on GEM listed companies

作　　者：刘伟[1] 杨贝贝[1] 刘严严[1] 

机构地区：[1]重庆大学经济与工商管理学院,重庆400044

出　　处：《科学学研究》2014年第3期421-430,共10页Studies in Science of Science

基　　金：教育部人文社科基金项目(13YJA630058);重庆市软科学研究计划项目(cstc2012cx-rkxA0047)

摘　　要：从企业实施探索性创新活动出发,界定企业创业导向战略的并购行为,并以中国创业板上市公司为我国新创企业研究样本,将制度环境分为政府干预水平、地区投资者保护水平、金融发展水平三个维度,探讨制度环境对我国新创企业创业导向战略并购决策的影响,实证结果表明:政府干预水平对新创企业选择创业导向战略有积极作用;地区投资者保护水平与创业导向并购决策正相关;而金融市场环境对创业导向的影响并不显著。From the view of exploitative innovation activities,this research analyses the concept of entrepreneurial orientation.Then taking the companies from Chinese Growth Enterprise Market （GEM） as samples,this article selects government intervention level,the level of investor protection and financial development level to examine the relationships among institutional environment and entrepreneurial orientation.The empirical results reveal several important findings.The government intervention level has a significant positive effect on entrepreneurial orientation,and the level of investor protection has a significant impact on entrepreneurial orientation.But the financial development level＇ s influence on entrepreneurial orientation is not significant.

关 键 词：新兴经济 新创企业 制度环境 创业导向 

分 类 号：F270[经济管理—企业管理]