初创企业的投资决策研究——基于一次性决策模型的实证分析
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摘要
国内外学者大都致力于初创期中小企业发展过程中外围影响因素的探索研究,从宏观经济因素来定性看待初创企业发展面临的困境,并寻找初创中小企业发展的出路。针对初创企业投资决策问题,基于国内外学者的研究,致力于从企业本身出发,从企业决策者的角度看待初创中小企业发展问题。针对初创企业流动资金困乏,基于定量的角度,建立了最大最小收益值策略的一次性决策模型,通过实证分析得出对于处于初创期的企业来说决策者应该基于企业的实际情况,采用最大最小收益值策略模型进行投资决策。最后提出了初创企业发展建议,对初创企业的发展提供借鉴,使企业能够稳步度过初创期。
Most scholars at home and abroad are devoted to the exploration and study of peripheral influence factors in the development process of SMEs in the initial stage and treat the dilemma faced by the development of start-up enterprises qualitatively from the perspective of macroeconomic factors, and look for the way out for the development of start-up SMEs. In view of the investment decision-making of start-ups, based on the research of scholars at home and abroad, we are committed to starting from the enterprise itself and looking at the development of start-up SMEs from the perspective of corporate decision makers. In view of the lack of liquidity for start-ups, based on the quantitative perspective, a one-time decision-making model of the maximum and minimum return value strategy is established. Through empirical analysis, it is concluded that for the enterprises in the initial stage, the decision makers should adopt the maximum and minimum revenue value strategy model to make investment decisions based on the actual situation of the enterprise. Finally,it puts forward the development proposal of the start-up enterprise, and provides reference for the development of the start-up enterprise, so that the enterprise can steadily pass the initial stage.
Most scholars at home and abroad are devoted to the exploration and study of peripheral influence factors in the development process of SMEs in the initial stage and treat the dilemma faced by the development of start-up enterprises qualitatively from the perspective of macroeconomic factors, and look for the way out for the development of start-up SMEs. In view of the investment decision-making of start-ups, based on the research of scholars at home and abroad, we are committed to starting from the enterprise itself and looking at the development of start-up SMEs from the perspective of corporate decision makers. In view of the lack of liquidity for start-ups, based on the quantitative perspective, a one-time decision-making model of the maximum and minimum return value strategy is established. Through empirical analysis, it is concluded that for the enterprises in the initial stage, the decision makers should adopt the maximum and minimum revenue value strategy model to make investment decisions based on the actual situation of the enterprise. Finally,it puts forward the development proposal of the start-up enterprise, and provides reference for the development of the start-up enterprise, so that the enterprise can steadily pass the initial stage.
引文
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[3]吴杰.浅谈初创公司的资本战略[J].会计师,2018(09):24-25.
[4]王晓静,孟宪忠.企业组织健康内涵、因素与前因后果变量[J].技术经济与管理研究,2018(01):35-40.
[5]宋海林.中小企业融资难问题及其解决之道[J].企业改革与管理,2018(15):81,86.
[6]杨萍.中小企业筹资存在问题与建议[J].市场研究,2018(08):53-54.
[7]陈少华,陈菡.我国中小企业担保圈风险演化过程分析——基于博弈论研究视角[J].开发研究,2013(02):114-119.
[8]林莉莉.一次性决策理论在单周期产品问题中的应用[J].太原师范学院学报(自然科学版),2013,12(04):50-52.
[9]吴洁.初创企业生存之道探究[J].华东科技,2018(06):66-68.
[10]梁琳娜,刘楚辉.基于“智猪博弈”中小企业自主创新激励机制分析[J].中国新技术新产品,2018(16):126-127.
[11]王广生.关于管理创新过程的研究[J].技术经济与管理研究,2018(08):51-55.
[12]赵令锐,张骥骧.个体决策者有限理性的影响因素分析[J].价值工程,2012,31(35):7-9.
[13]李晓明,黄嵘,周鑫.偶然情绪对决策的影响[J].心理科学进展,2015,23(06):919-925.
[14]刘垚,田银生,周可斌.从一元决策到多元参与——广州恩宁路旧城更新案例研究[J].城市规划,2015,39(08):101-111.
[15]毛文静.试论探路者型组织发展实施者及其过程干预[J].技术经济与管理研究,2018(04):54-60.
[16]逄锦荣,张雨.大数据环境下中小企业竞争情报需求分析与实施策略研究[J].山东科技大学学报(社会科学版),2018,20(04):80-87.
[17]刘宏宇.企业社会责任沟通对品牌态度影响的实证研究[J].技术经济与管理研究,2018(05):66-70.
[18]胡希宁,贾小立.博弈论的理论精华及其现实意义[J].中共中央党校学报,2002(02):48-53.