浅析财务冗余对研发投资的影响
摘要
研发投资对于提高企业的自主创新能力来说至关重要,而研发投资本身所具有的一些特点如投入成本大,调整成本高,收益的跨期性等特点,导致研发面临着或多或少的融资压力。财务冗余作为企业未被吸收的冗余资源,是企业财务管理的重要组成部分,反映了企业以较低的风险满足资金需求的能力。文章对于财务冗余对企业研发投资的影响进行了分析探讨。
引文
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[2]Cyert Richard M,James G March.ABehavioral Theory of the Firm[M].Englewood Cliffs,NJ:Prentice-Hall.1963.
[3]Bourgeois L J.On the Measurement of Organizational Slack[J].Academy of Management Review,1981(06).
[4]Singh J V.Performance,Slack,and Risk Taking in Organizational Decision Making[J].Academy of Management Journal,1986,29(03).
[5]Sharfman M P,Wolf G,Chase R B,et al.Antecedents of organizational slack[J].Academy of Management Review,1988,13(04).
[6]陈晓红,王艳,关勇军.财务冗余、制度环境与中小企业研发投资[J].科学学研究,2012(10).
[7]Hall,B.H.,The Financing of Research and Development,Oxford Review of Economic Polocy,2002,18.
[8]Modigliani F,Miller M H.The Cost of Capital,Corporation Finance and the Theory of Investment[J].American Economic Review,1958,48(03).
[9]孔宁宁,张新民,唐杰.我国高新技术企业战略、资本结构与绩效关系研究[J].中国工业经济,2010(09).