创业板上市公司创新投入的影响因素研究

作为我国中小企业特别是高新技术企业的融资平台,创业板在自主创新国家战略和构建多层次资本市场体系中起着举足轻重的作用。通过对355家创业板上市公司的创新投入及其影响因素进行分析,结果表明公司的创新水平与净利润、资产总额、董事学历有完全的正相关关系,与资产负债率、控股股东持股比例和董事会规模之间没有显著关系。

A Study on the Influencing Factors of Innovation Input about Listed Companies On GEM

As a financing channel for China＇s small and medium-sized enterprises （ SMEs） , especially for high and new technology enterprises , Growth enterprise market （ GEM） has been playing a very important role in na-tional independent innovation strategy and building multi -level capital market system .The paper analyzes the factors influencing the innovation expenditures based on the data of 355 listed companies on GEM .Our findings show that innovation expenditures are positively related to net profits , total assets and education level of direc-tors.Innovation expenditures are unrelated to leverage , the holding rate of controlling stockholders and director board size .