区域金融生态系统对新创企业绩效影响的实证研究
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摘要
金融生态系统对优化区域资源配置效率、为实体经济"充血供能"起重要作用,而新创企业的成长离不开金融"血液"的持续供给。以我国283个地级市为对象,基于"态、势、流"系统理念构建区域金融生态系统评价指标体系,在资源论及战略适应论等理论的基础上构建新创企业绩效评价指标体系,研究2012—2015年金融生态系统对新创企业绩效的影响。研究发现,区域金融生态系统、企业规模、企业成立年限和政府补贴变量都与新创企业绩效显著正相关,但新创企业绩效的相关系数大于企业规模、大于企业成立年限、大于政府补贴。最后,提出针对性的对策建议。
The financial ecosystem plays an important role in optimizing the allocation efficiency of regional resources, congesting and energizing the real economy, the growth of start-up companies cannot be separated from the continuous supply of financial "blood".This article targets at 283 prefecture-level cities across China, constructs a regional financial ecosystem evaluation index system based on the system concept of "state, potential and flow",constructs a new enterprise performance evaluation index system based on the theory of resource theory and strategic adaptation theory, and studies the impact of financial ecosystems on the performance of start-ups in 2012-2015. The research finds that, regional financial ecosystems, firm size, years of establishment, and government subsidy variables are significantly positively correlated with the performance of new ventures, however, the correlation coefficient of the performance of new ventures is greater than the scale of the enterprise, the establishment period of the enterprise, and the government subsidy. Finally, the paper puts forward specific countermeasures and suggestions.
The financial ecosystem plays an important role in optimizing the allocation efficiency of regional resources, congesting and energizing the real economy, the growth of start-up companies cannot be separated from the continuous supply of financial "blood".This article targets at 283 prefecture-level cities across China, constructs a regional financial ecosystem evaluation index system based on the system concept of "state, potential and flow",constructs a new enterprise performance evaluation index system based on the theory of resource theory and strategic adaptation theory, and studies the impact of financial ecosystems on the performance of start-ups in 2012-2015. The research finds that, regional financial ecosystems, firm size, years of establishment, and government subsidy variables are significantly positively correlated with the performance of new ventures, however, the correlation coefficient of the performance of new ventures is greater than the scale of the enterprise, the establishment period of the enterprise, and the government subsidy. Finally, the paper puts forward specific countermeasures and suggestions.
引文
[1]徐诺金.金融生态论:对传统金融理念的挑战[M].北京:中国金融出版社, 2007.
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[12]鲍盛祥,陶文庆.外部社会资本对新创企业绩效的影响研究:知识获取的中介作用[J].工业技术经济, 2014(9):144-152.
[13]王业静,曾德明.组织二元性对高科技新创企业绩效的影响研究[J].管理学报,2013,10(8):1170-1178.
[14]程李梅,范珂.网络特征、资源获取对新创企业绩效影响研究[J].工业技术经济,2014(1):51-58.
[15]FORD J D, SCHELLENBERG D A. Conceptual issues of linkage in the assessment of organizational performance[J].Academy of Management Review, 1982,7(1):49-58.
[16]RUEKERT R W, WALKER O C, ROERING K J.The organization of marketing activities:a contingency theory of structure and performance[J]. Journal of Marketing, 1985, 49(1):13-25.
[17]EVANS D S, JOVANOVIC B. An estimated model of entrepreneurial choice under liquidity constraints[J].Journal of Political Economy, 1989,97(4):808-827.
[18]LUMPKIN G T, DESS G G. Clarifying the entrepreneurial orientation construct and linking it to performance[J].Academy of Management Review, 1996,21(1):135-172.
[19]ZAHRA S A, NIELSEN A P, BOGNER W C. Corporate entrepreneurship, knowledge,and competence development[J].International Journal of Manpower, 1996, 26(6):529-543.
[20]陈向东,刘志春.基于创新生态系统观点的我国科技园区发展观测[J].中国软科学,2014(11):151-161.
[21]刘靖旭,谭跃进,蔡怀平.多属性决策中的线性组合赋权方法研究[J].国防科技大学学报,2005,27(4):121-124.
[2]王秀芳.金融生态环境评价问题研究[J].金融理论与实践,2006(9):29-32.
[3]刘朝明,廖林,涂瑞.区域金融生态系统基本性状模型研究[J].金融研究,2008(5):194-202.
[4]张韶辉.政府行为与金融生态环境问题分析[J].经济纵横,2007(12):29-31.
[5]俞蕾.黑龙江省金融生态环境评估指标体系研究[J].经济研究导刊,2016(8):175-176.
[6]杨庆明,谢月华.区域金融生态系统的评价与分类:基于SFA模型的实证研究[J].金融与经济,2009(12):40-42.
[7]岳忠宪,甘敬义,齐红彦.中国欠发达区域经济发展与金融生态环境的关联性:以江西省经济与金融的发展模型为例[J].金融教育研究,2011,24(5):3-9.
[8]张军.长三角区域金融生态环境评价与优化建议[J].当代经济,2014(22):64-65.
[9]邓淇中,何俊阳,程云宇.中国金融生态系统运行效率及其影响因素的评价研究[J].湖南科技大学学报(社会科学版),2015,18(2):78-84.
[10]ROSENBUSCH N, BRINCKMANN J, BAUSCH A.Is innovation always beneficial? A meta-analysis of the relationship between innovation and performance in SMEs[J]. Journal of Business Venturing, 2011,26(4):441-457.
[11]罗兴武,项国鹏,宁鹏,等.商业模式创新如何影响新创企业绩效?:合法性及政策导向的作用[J].科学学研究,2017,35(7):1073-1084.
[12]鲍盛祥,陶文庆.外部社会资本对新创企业绩效的影响研究:知识获取的中介作用[J].工业技术经济, 2014(9):144-152.
[13]王业静,曾德明.组织二元性对高科技新创企业绩效的影响研究[J].管理学报,2013,10(8):1170-1178.
[14]程李梅,范珂.网络特征、资源获取对新创企业绩效影响研究[J].工业技术经济,2014(1):51-58.
[15]FORD J D, SCHELLENBERG D A. Conceptual issues of linkage in the assessment of organizational performance[J].Academy of Management Review, 1982,7(1):49-58.
[16]RUEKERT R W, WALKER O C, ROERING K J.The organization of marketing activities:a contingency theory of structure and performance[J]. Journal of Marketing, 1985, 49(1):13-25.
[17]EVANS D S, JOVANOVIC B. An estimated model of entrepreneurial choice under liquidity constraints[J].Journal of Political Economy, 1989,97(4):808-827.
[18]LUMPKIN G T, DESS G G. Clarifying the entrepreneurial orientation construct and linking it to performance[J].Academy of Management Review, 1996,21(1):135-172.
[19]ZAHRA S A, NIELSEN A P, BOGNER W C. Corporate entrepreneurship, knowledge,and competence development[J].International Journal of Manpower, 1996, 26(6):529-543.
[20]陈向东,刘志春.基于创新生态系统观点的我国科技园区发展观测[J].中国软科学,2014(11):151-161.
[21]刘靖旭,谭跃进,蔡怀平.多属性决策中的线性组合赋权方法研究[J].国防科技大学学报,2005,27(4):121-124.