科研管理

科研管理 ›› 2006, Vol. 27 ›› Issue (6): 40-46.

• 论文 • 上一篇    下一篇

环境风险、资本结构、成长性与高科技企业绩效

李延喜, 包世泽, 孔宪京   

  1. 大连理工大学管理学院,辽宁大连116024
  • 收稿日期:2005-12-12 出版日期:2006-11-24 发布日期:2011-05-16
  • 作者简介:李延喜(1970-),男,大连理工大学管理学院财务与会计研究所所长,管理学博士,教授,博士研究生导师。
    主要研究方向:会计学理论与实务、公司理财、资产定价、投融资决策与评价。
  • 基金资助:

    国家自然科学基金项目(70302008,2004.1-2006.12)和教育部博士点基金项目(20040141031,2004.1-2007.12)资助。

Environment risk, capital structure, growth and high-tech firm's performance

Li Yan-xi, Bao Shi-ze, Kong Xian-jing   

  1. School of Management, Dalian University of Technology, Dalian 116024, China
  • Received:2005-12-12 Online:2006-11-24 Published:2011-05-16

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摘要： 本文从环境变化的角度对高科技企业面临的风险进行量化,以长期债务比率作为高科技企业资本结构的代理变量,结合对高科技企业成长性的考察,就上述三个因素与高科技企业绩效的关系进行了实证研究,证实了环境风险和成长性对高科技企业绩效存在显著的影响。

关键词: 环境风险, 资本结构, 成长性, 企业绩效, 高科技企业

Abstract: The paper tried to quantify the risks that the high-tech firms faced in terms of the circumstances variance, took the long-term debt rate as the proxy of the capital structure in high-tech firms. Then, combined with the examination on the growth of high-tech firms, the paper conducted an empirical research on the relationship between environment risk, capital structure, growth and firm performance in high-tech firms. The result of the research showed that there exists a significant correlation between environment risk, growth and high-tech firms' performance.

Key words: environment risk, capital structure, growth, firm performance, high-tech firms

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