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在经济“新常态”下,如何运用金融媒介工具与体系促进民营企业研发创新,实现民营企业跨越性转型升级,成为当今制造业企业亟待解决的问题。文章利用2007年以来我国制造业民营上市公司面板数据分析了区域金融集聚、研发投入对民营企业成长的影响。研究发现:金融集聚度和企业研发投入的提升对企业成长均具有正向影响,但是金融集聚只能提高企业的研发投入绝对额,却会降低企业的研发投入强度,说明金融集聚影响下的金融机构贷款没有形成良性结合,缺少从金融支持转向技术创新的动力。
Under the economic “new normal ”, how to use the financial media tools and system to promote the R & D innovation of private enterprises to realize the transition and upgrading of private enterprises has become an urgent problem to be solved by today’s manufacturing enterprises. This article analyzes the influence of regional financial agglomeration and R & D investment on the growth of private-owned enterprises from the panel data of private listed companies of manufacturing industry in China since 2007. The findings are as follows: financial agglomeration and R & D investment have a positive impact on the growth of enterprises, but financial agglomeration can only increase the absolute amount of R & D investment, but will reduce the intensity of R & D investment, indicating that financial agglomeration under the influence of the financial Institutional loans did not form a good combination, lack of motivation to shift from financial support to technological innovation.