| 机器人产业上市公司融资效率研究 |
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| 引用本文： | 程翔,曾峰,雷鹏飞,赵睿.机器人产业上市公司融资效率研究[J].科技促进发展,2018,14(9):833-839. |
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| 作者姓名： | 程翔 曾峰 雷鹏飞 赵睿 |
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| 作者单位： | 北京联合大学管理学院 |
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| 基金项目： | 教育部人文社会科学研究青年项目（18YJCZH020）“京津冀地区科技金融政策空间溢出与协同效应研究”，负责人：程翔；北京社会科学基金重大项目（18ZDA09）“动态匹配视角下人工智能对北京市就业的影响与应对研究”，负责人：何勤；北京联合大学人才强校优选-学术探究计划（BPHR2018ES01）“金融科技创新路径及其支持体系研究”，负责人：张峰；中国移动通信联合会重点课题（CMCA2018ZD01）“区块链技术在金融领域的应用研究”，负责人：程翔。 |
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| 摘 要： | 当前全球科技创新竞争日趋激烈,作为高端科技引领的机器人产业已成为衡量一个国家科技水平和经济智能化程度的重要标志。技术、资金、人才、政策的投入效率均可能对该产业的发展带来深刻影响。本文以我国机器人产业上市公司为研究对象,运用DEA-Malmquist指数方法对2011—2016年间的融资效率及其动态变化情况进行实证分析。研究表明,该产业上市公司的融资效率总体上呈现动态提高趋势,在股权融资、内部融资和债务融资3种主要融资方式中,股权融资的融资效率最高,债务融资次之,内部融资最低,但不同的融资方式对融资效率的影响效应不同。
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| 关 键 词： | 机器人产业 DEA-Malmquist 融资效率 融资方式 |
Research on Financing Efficiency of Listed Companies in Robot Industry |
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| CHENG Xiang,ZENG Feng,LEI Pengfei and ZHAO Rui.Research on Financing Efficiency of Listed Companies in Robot Industry[J].Science & Technology for Development,2018,14(9):833-839. |
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| Authors: | CHENG Xiang ZENG Feng LEI Pengfei and ZHAO Rui |
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| Affiliation: | Management College, Beijing Union University, Beijing 100101,Management College, Beijing Union University, Beijing 100101,Management College, Beijing Union University, Beijing 100101 and Management College, Beijing Union University, Beijing 100101 |
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| Abstract: | This paper will take the listed companies of robot industry in China as the research objects, and make an empirical analysis on the financing efficiency and dynamic change in 2011-2016 from the angles of both static and dynamic by using the index of DEA-Malmquist. The research illustrates that the financing efficiency of the listed companies in this industry generally shows a dynamic trend. In equity financing, internal financing and debt financing three main financing methods, equity financing is the highest in financing efficiency, followed by debt financing, and the lowest is internal financing, though different financing methods have different effect on the financing efficiency. |
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| Keywords: | robot industry DEA-Malmquist financing efficiency financing methods |
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