风险投资对高新技术企业技术联盟策略影响——以吸收能力为中介的实证研究

科研管理 ›› 2011, Vol. 32 ›› Issue (7): 76-84.

风险投资对高新技术企业技术联盟策略影响——以吸收能力为中介的实证研究

龙勇, 梅德强, 常青华

重庆大学经济与工商管理学院, 重庆 400030

收稿日期:2008-05-12 修回日期:2010-05-06 出版日期:2011-07-27 发布日期:2011-07-14
作者简介:龙勇(1963－),男,重庆市人,教授、博士生导师,研究方向为战略联盟、风险投资等。梅德强(1975－),男,重庆市人,博士研究生,研究方向为战略联盟、创业管理及风险投资。常青华(1982-),男,陕西渭南人,硕士研究生,研究方向为风险投资。
基金资助:
教育部新世纪优秀人才支持计划项目"高新技术企业融资策略对战略模式影响",编号:NCET-07-0906;国家自然科学基金资助项目(编号:70672012)。

The impact of venture capital on high-tech firms' alliance strategy: Based on the medium role of absorptive capacity

Long Yong, Mei Deqiang, Chang Qinghua

College of Economics and Business Administration, Chongqing University, Chongqing 400030, China

Received:2008-05-12 Revised:2010-05-06 Online:2011-07-27 Published:2011-07-14

摘要/Abstract

摘要： 风险投资相对于传统的投资是一种特殊形式的投资方式,它不仅为企业发展提供资金支持,还通过多种形式的非资本增值服务提升企业价值。非资本增值服务会影响高新技术企业的发展战略,如企业联盟策略的制定。本文研究风险投资对高新技术企业联盟策略的影响,引入了吸收能力作为中介变量,通过对多个地区的高新技术企业调研数据进行实证分析验证了本文提出的相关假设,最后对研究结论和意义进行了分析和讨论。

关键词: 风险投资, 技术联盟, 吸收能力, 中介效应

Abstract: Related to others traditional investment, venture capital is a special investment. Several studies examine the hypothesis that venture capitalists play an active role in the companies which they invest in, provide mentor and strategic advice, help with bringing innovative products to the marketplace, and assist at the recruitment of top managers. Other studies hypothesize that the presence of venture capitalists is useful for certifying the value of companies to the marketplace, and venture capitalists play an important role in the governance of the companies which they invest. According to these special characteristics of venture capital, the effect of venture capital on the firms' alliance strategy is analyzed, and the relationships among venture capital, absorptive capacity and technology strategy alliance strategy are studied.

Key words: venture capital, technology alliance, absorptive capacity, medium role

中图分类号:

F270

龙勇, 梅德强, 常青华. 风险投资对高新技术企业技术联盟策略影响——以吸收能力为中介的实证研究[J]. 科研管理, 2011, 32(7): 76-84.

Long Yong, Mei Deqiang, Chang Qinghua. The impact of venture capital on high-tech firms' alliance strategy: Based on the medium role of absorptive capacity[J]. Science Research Management, 2011, 32(7): 76-84.

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