【摘要】 从可持续增长视角,考察可持续增长理念对企业自由现金流量、创新投入和效率的影响,研究企业创新的体制机制问题。结果表明:现阶段可持续增长理念并未成为提升企业自由现金流并增加研发投入的有效驱动因素,企业在很大程度上存在创新投入不足、未能提升竞争力的可能性,且创新投入效率不高。最后,提出应强化公司投资决策制衡机制,严格执行项目投资和现金流使用的审批程序,提高资金使用效率,实现财务协同效应,利用企业无形资产促进长期业绩水平的提高。更多还原

【Abstract】 Based on the perspective of sustainable growth,in order to analyze the system and mechanism of enterprise innovation,it studies how the concept of sustainable impacts Enterprise free cash flow,innovation input and efficiency.The results show that currently the concept of sustainable growth does not become the efficient driving factor for improving enterprises’ free flow and increasing R&D input.To a large extent the possibility exists that innovation investment is insufficient,which failed to boost competitiveness.Furthermore,the efficiency of innovation investment is lower.It suggests that balance mechanism of the company investment decisions should be strengthened,approval of project investment and the use of cash flow should be implemented strictly,so as to increase the service efficiency of funds,to achieve financial synergies,to ensure that the intangible assets can eventually raise the level of enterprises’ long-term performance.更多还原