【摘要】 本文基于企业内生动力角度,从公司财务信息及高管的内部特征方面实证研究了新能源上市公司R&D融资约束的影响因素。研究发现:具有政治、金融背景的高管及良好商业信用等企业内生因素有助于缓解新能源上市公司R&D融资约束。而承担过多的社会责任会导致R&D融资约束加重。同时,高管政治、金融背景与商业信用的交互效应将有助于缓解新能源上市公司R&D融资约束。更多还原

【Abstract】 Based on the financial data and executive characteristics of Chinese new energy listed companies,this paper empirically studies the influence factors of financing constraints on R&D of new energy listed companies from the perspective of endogenous dynamics.The research finds that executives with political and financial backgrounds and good commercial credit in the internal environment are helpful to ease the financial constraints on R&D of enterprises,while undertaking excessive social responsibilities will lead to the aggravation of financing constraints on R&D of new energy listed companies.Further research shows that the interaction effect between the background of senior executives and commercial credit will also significantly affect the R&D financing constraints of enterprises,and the interaction effect between the political and financial background of senior executives and commercial credit will all help to ease the constraints of enterprise R&D financing.更多还原