利润目标vs.生存目标:资金限制下新创企业产品绿色投资策略及激励政策  

Profit-Seeking Versus Survival-Seeking:Green Investment of Capital-Constrained Startups and Comparisons of Incentive Policies

作　　者：夏兵 马琪 李健 XIA Bing;MA Qi;LI Jian(School of Economics and Management,Beijing University of Technology,Beijing 100124,China;School of Public Administration,Beihang University,Beijing 100191,China)

机构地区：[1]北京工业大学经济与管理学院,北京100124 [2]北京航空航天大学公共管理学院,北京100191

出　　处：《系统管理学报》2024年第6期1412-1422,共11页Journal of Systems & Management

基　　金：教育部人文社会科学研究青年基金资助项目(23YJC630194);国家自然科学基金资助项目(72374020,71932002);北京市教育委员会科研计划资助项目(SM202310005001)。

摘　　要：资金限制下新创企业的产品绿色投资(PGI)受到抑制,需要政府出台有效的支持政策。构建需求不确定下新创企业两阶段PGI模型,在传统利润目标研究的基础上,考虑新创企业在资金限制下追求生存的特点,并引入资金类支持(专项资金、研发补贴)和信息类支持(消费引导、信息提供)两类政策工具,比较新创企业在不同运营目标和不同政策支持下的PGI策略。结果显示:存在需求波动的环境中,新创企业在利润目标下会同时提高(或降低)相对于确定环境中的PGI和定价,以平衡短期生存压力和长期利润;在生存目标下亦会正向关联PGI和定价,以平衡两阶段的生存风险。在政策方面:对于利润目标下的新创企业,政府的研发补贴比专项资金支持效果更明显,消费引导可以发挥正向调节作用,而信息提供会在短期抑制企业追求PGI风险收益的动力;对于生存目标下的新创企业,政府的专项资金比研发补贴支持效果更明显,而消费引导和信息提供力度存在最优值。Product green investment(PGI)of start-ups in the post-pandemic era is inhibited and effective government support policies are required.This paper constructs a two-stage model for start-ups in demand uncertainty,and considers the characteristics that financially constrained start-ups will pursue survival under financial constraints in addition to the traditional profit-seeking objective.It introduces two types of policy tools,including financial supports(special funds,and research and development(R&D)subsidies)and information supports(consumption guidance,and information provision),to compare the PGI of start-ups under different operational objectives and supporting policies.The results show that in an environment with market volatility,start-ups under profit-seeking objective will simultaneously increase(decrease)their PGI and pricing relative to a deterministic environment to balance short-term survival pressure and long-term profits,and positively correlate PGI and pricing to balance the survival risk at each stage under profit-seeking objective.In terms of incentive policies,for profit-seeking start-ups,R&D subsidies have a more evident effect than special funds.Consumption guidance can exert a positive regulatory influence,whereas information provision might temporarily inhibit the drive of firms to pursue the risk-reward of green investment in products.For survival-seeking start-ups,special funds yield a more substantial effect than R&D subsidies,and there exists an optimal intensity for consumer guidance and information provision.

关 键 词：新创企业 产品绿色投资 利润目标 生存目标 政策激励 

分 类 号：F274[经济管理—企业管理] F224.3[经济管理—国民经济]