Financing Sources, R&D Investment and Enterprise Risk

被引：14
|
作者：
Wang, Hong [1 ]
Liang, Pan [1 ]
Li, Huiyu [2 ]
Yang, Ruili [1 ]
机构：
[1] Sichuan Univ, Sch Business, 24 South Ring Rd, Chengdu 610064, Peoples R China
[2] Sichuan Univ, Chengdu 610064, Peoples R China
来源：
PROMOTING BUSINESS ANALYTICS AND QUANTITATIVE MANAGEMENT OF TECHNOLOGY: 4TH INTERNATIONAL CONFERENCE ON INFORMATION TECHNOLOGY AND QUANTITATIVE MANAGEMENT (ITQM 2016) | 2016年 / 91卷
关键词：
Financingsources; Investment; Enterprise risk;
D O I：
10.1016/j.procs.2016.07.049
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Research and development (R&D) investment of high-tech enterprises has an impact on enterprise risk, but the effect is different when funding sources are different. This paper aims to study the relationships among financing sources, R&D investment and enterprise risk. The empirical results suggest that the relationship between endogenous financing rate and R&D investment is significantly positive, and asset-liability ratio has a significantly negative impact on R&D investment. Furthermore, the study shows that relationship between enterprise risk and R&D investment can be described with a quadratic parabola. (C) 2016 The Authors. Published by Elsevier B.V.
引用
收藏
页码：122 / 130
页数：9
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