基于R&D视角的制造业专精特新“小巨人”企业价值研究——以曙光数创为例  

Research on the Value of Specialized and New "Small Giant" Enterprises in Manufacturing Industry Based on R&D Perspective——Taking Dawning Digital Creation as an Example

作　　者：陈远麟 冯金丽[1] Chen Yuanlin;Feng Jinli(School of Economics and Management,Guangxi University of Science and Technology,Liuzhou Guangxi 545006,China)

机构地区：[1]广西科技大学经济与管理学院,广西柳州545006

出　　处：《现代工业经济和信息化》2024年第12期23-28,共6页Modern Industrial Economy and Informationization

基　　金：广西哲学社会科学规划研究课题“广西融入中国-东盟区域价值链对制造业转型升级的影响与深化路径研究”(21FYJ045);广西工业高质量发展研究中心开放基金项目“产业互联网对广西制造业价值链升级的作用与对策研究”资助。

摘　　要：专精特新“小巨人”企业作为中小企业价值成长路径的重要一环以及制造业转型升级强有力的推进力量,其培育成长是政策密切关注的方向。作为驱动企业成长的重要因素,R&D活动有助于企业增强创新能力,以创新能力驱动企业专业化、精细化、特色化、新颖化发展并不断提升其价值。针对R&D创新对于专精特新“小巨人”价值成长的驱动作用,从R&D视角作为切入点,评估该类企业的价值,为相关制造业企业价值评估探索更精确的方法。在案例研究中,以制造业专精特新“小巨人”企业曙光数创为例,从企业R&D活动的视角出发,以研发费用作为抓手,评估专精特新“小巨人”企业曙光数创的修正经济增加值,并结合改进的实物期权模型得到该企业R&D视角下的评估价值,进而基于案例结论提出专精特新“小巨人”企业价值提升需要政策细化、增加R&D活动投入等相关建议。As an important part of the value growth path of small and medium-sized enterprises(SMEs) and a powerful driving force for the transformation and upgrading of the manufacturing industry,the cultivation and growth of “specialized,special and new”small giants is the direction that policy pays close attention to.As an important factor driving the growth of enterprises,R&D activities can help enterprises to enhance their innovation ability,and drive the development of enterprises' specialization,refinement,specialization and novelty with their innovation ability and continuously improve their value.To address the role of R&D innovation in driving the value growth of“specialized,special and new”small giants,we take the R&D perspective as an entry point to assess the value of this type of enterprises,and explore a more accurate method for the value assessment of related manufacturing enterprises.In the case study,we take Shuguang Numerical Creation,a “specialized,special and new”small giant enterprise in the manufacturing industry,as an example,to assess the value of“specialized,special and new”small giant enterprises from the perspective of their R&D activities,using R&D expenses as a starting point.The revised economic value added of Shuguang Numerical Creation is combined with the improved real option model to get the appraisal value of this enterprise from the perspective of R&D.Based on the conclusion of the case,it is proposed that the enhancement of the value of specialized,speciality and new small-giant enterprises requires the refinement of the policy and the increase of the investment in R&D activities.

关 键 词：专精特新 R&D视角 修正经济增加值 实物期权 

分 类 号：F276.3[经济管理—企业管理] F425[经济管理—国民经济]