企业融资渠道与创新研发投资 -- 上海财经大学期刊社

4 郭丽虹, 马文杰. 融资约束与企业投资——现金流量敏感度的再检验: 来自中国上市公司的证据[J]. 世界经济,2009, (2): 77-87. DOI:10.3969/j.issn.1007-1369.2009.02.013

5 过新伟, 王曦. 融资约束、现金平滑与企业R&D投资——来自中国制造业上市公司的证据[J]. 经济管理,2014, (8): 144-155. DOI:10.3969/j.issn.1671-0975.2014.08.061

6 韩鹏, 唐家海. 融资约束、现金持有与研发平滑[J]. 财经问题研究,2012, (10): 86-91. DOI:10.3969/j.issn.1000-176X.2012.10.014

7 解维敏, 方红星. 金融发展、融资约束与企业研发投入[J]. 金融研究,2011, (5): 171-183.

8 鞠晓生. 中国上市企业创新投资的融资来源与平滑机制[J]. 世界经济,2013, (4): 138-159.

9 李汇东, 唐跃军, 左晶晶. 用自己的钱还是用别人的钱创新?——基于中国上市公司融资结构与公司创新的研究[J]. 金融研究,2013, (2): 170-183.

10 卢馨, 郑阳飞, 李建明. 融资约束对企业R&D投资的影响研究——来自中国高新技术上市公司的经验证据[J]. 会计研究,2013, (5): 51-58. DOI:10.3969/j.issn.1003-2886.2013.05.007

11 马微, 惠宁. 金融结构对技术创新的影响效应及其区域差异研究[J]. 经济科学,2018, (2): 75-87.

12 聂正彦. 金融转型、技术创新与中国经济发展方式的转变[J]. 经济理论与经济管理,2012, (5): 72-79. DOI:10.3969/j.issn.1000-596X.2012.05.009

13 孙亮, 柳建华. 银行业改革、市场化与信贷资源的配置[J]. 金融研究,2011, (1): 94-109.

14 王刚刚, 谢富纪, 贾友. R&D补贴政策激励机制的重新审视——基于外部融资激励机制的考察[J]. 中国工业经济,2017, (2): 60-78.

15 王玉泽, 罗能生, 刘文彬. 什么样的杠杆率有利于企业创新[J]. 中国工业经济,2019, (3): 138-155.

16 吴淑娥, 仲伟周, 卫剑波, 等. 融资来源、现金持有与研发平滑——来自我国生物医药制造业的经验证据[J]. 经济学(季刊),2016, (2): 745-766.

17 肖兴志, 王海. 哪种融资渠道能够平滑企业创新活动?——基于国企与民企差异检验[J]. 经济管理,2015, (8): 151-160.

18 徐明, 刘金山. 何种金融结构有利于技术创新——理论解构、实践导向与启示[J]. 经济学家,2017, (10): 54-64.

19 杨芷晴, 张帆, 张友斗. 竞争性领域政府补助如何影响企业创新[J]. 财贸经济,2019, (9): 132-145. DOI:10.3969/j.issn.1002-8102.2019.09.010

20 张亚峰, 刘海波, 陈光华, 等. 专利是一个好的创新测量指标吗?[J]. 外国经济与管理,2018, (6): 3-16.

21 赵彦云, 刘思明. 中国专利对经济增长方式影响的实证研究: 1988~2008年[J]. 数量经济技术经济研究,2011, (4): 34-48, 81.

22 Andrei D, Mann W, Moyen N. Why did the q theory of investment start working?[J]. Journal of Financial Economics,2019, 133(2): 251-272. DOI:10.1016/j.jfineco.2019.03.007

23 Arqué-Castells P. Persistence in R&D performance and its implications for the granting of subsidies[J]. Review of Industrial Organization,2013, 43(3): 193-220. DOI:10.1007/s11151-013-9381-0

24 Brown J R, Petersen B C. Cash holdings and R&D smoothing[J]. Journal of Corporate Finance,2011, 17(3): 694-709. DOI:10.1016/j.jcorpfin.2010.01.003

25 Brown J R, Martinsson G, Petersen B C. Law, stock markets, and innovation[J]. The Journal of Finance,2013, 68(4): 1517-1549. DOI:10.1111/jofi.12040

26 Carree M, Piergiovanni R, Santarelli E, et al. Factors favoring innovation from a regional perspective: A comparison of patents and trademarks[J]. International Entrepreneurship and Management Journal,2015, 11(4): 793-810. DOI:10.1007/s11365-014-0313-8

27 Dixit A K, Pindyck R S. The options approach to capital investment[J]. Harvard Business Review,1995, 73(3): 105-115.

28 Erickson T, Whited T M. Measurement error and the relationship between investment and q[J]. Journal of Political Economy,2000, 108(5): 1027-1057. DOI:10.1086/317670

29 Gilchrist S, Sim J W, Zakrajšek E. Misallocation and financial market frictions: Some direct evidence from the dispersion in borrowing costs[J]. Review of Economic Dynamics,2013, 16(1): 159-176. DOI:10.1016/j.red.2012.11.001

30 Hall B H. Business and financial method patents, innovation, and policy[J]. Scottish Journal of Political Economy,2009, 56(4): 443-473. DOI:10.1111/j.1467-9485.2009.00493.x

31 Hayashi F. Tobin’s marginal q and average q: A neoclassical interpretation[J]. Econometrica,1982, 50(1): 213-224. DOI:10.2307/1912538

32 He Z Z, Ciccone S. Too much liquidity? Seemingly excess cash for innovative firms[J]. Financial Review,2020, 55(1): 121-144. DOI:10.1111/fire.12210

33 Hsu P H, Tian X, Xu Y. Financial development and innovation: Cross-country evidence[J]. Journal of Financial Economics,2014, 112(1): 116-135. DOI:10.1016/j.jfineco.2013.12.002

34 Kashyap A K, Wilcox D W, Stein J C. Monetary policy and credit conditions: Evidence from the composition of external finance[J]. American Economic Review,1993, 83(1): 78-98.

35 Khan M K, Kaleem A, Zulfiqar S, et al. Innovation investment: Behaviour of Chinese firms towards financing sources[J]. International Journal of Innovation Management,2019, 23(7): 1950070. DOI:10.1142/S1363919619500701

36 Kleer R. Government R&D subsidies as a signal for private investors[J]. Research Policy,2010, 39(10): 1361-1374. DOI:10.1016/j.respol.2010.08.001

37 Le T, Jaffe A B. The impact of R&D subsidy on innovation: Evidence from New Zealand firms[J]. Economics of Innovation and New Technology,2017, 26(5): 429-452. DOI:10.1080/10438599.2016.1213504

38 Liang Y S, Shi K, Wang L S, et al. Local government debt and firm leverage: Evidence from China[J]. Asian Economic Policy Review,2017, 12(2): 210-232. DOI:10.1111/aepr.12176

39 Lin H C M, Bo H. State-ownership and financial constraints on investment of Chinese-listed firms: New evidence[J]. The European Journal of Finance,2012, 18(6): 497-513. DOI:10.1080/1351847X.2011.611523

40 Stiglitz J E, Weiss A. Credit rationing in markets with imperfect information[J]. American Economic Review,1981, 71(3): 393-410.