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针对型技术创新融资过程中融资风险难以量化及融资风险评价主体的模糊性问题,建立企业举债背景下的权益资本报酬率服从正态分布N?(E,σ2)的融资风险量化与评价模型,将该模型应用于高新技术企业上市公司技术创新融资项目进行实证分析,结果显示,对融资风险量化的准确性高,且融资风险评价模型实用性强,为企业技术创新融资过程中的风险管理决策提供合理依据。
In view of the difficulty of quantifying the financing risk and the fuzziness of the subject of financing risk assessment in the process of technological innovation financing, this paper establishes the quantitative and qualitative evaluation model of financing risk with the return of equity capital under the background of corporate debt under the normal distribution N (E, σ2) The model is applied to the hi-tech enterprise listed companies technological innovation financing project empirical analysis, the results show that the quantitative accuracy of the financing risk is high, and the financing risk evaluation model is practical, for the enterprise technology innovation financing process of risk management decision-making Provide a reasonable basis.