摘要
战略性技术创新是企业构建核心竞争力、引领行业变革、挖掘持续增长潜力的根本驱动力。耐心资本通过为企业提供长期稳定的资金支持,容忍短期发展的不确定性,专注长期投资价值,为战略性技术创新的孵化和技术突破奠定了坚实的基础。本文以2014—2024年107家制造业单项冠军企业作为研究样本,对耐心资本与战略性技术创新的关系进行了实证检验。结果表明,耐心资本促进了企业的战略性技术创新,并且存在流动性和融资约束的作用机制。区域异质性分析表明,耐心资本更有利于促进东部地区的战略性技术创新,对东北地区的战略性技术创新影响效果较为薄弱。
Strategic technological innovation serves as the fundamental driving force for enterprises to build core competitiveness,lead industry transformation,and unlock sustained growth potential.Patient capital,by providing long-term and stable financial support to enterprises while tolerating short-term development uncertainties and focusing on long-term investment value,lays a solid foundation for the incubation and breakthroughs of strategic technological innovation.This study empirically examines the relationship between patient capital and strategic technological innovation using a sample of 107 manufacturing single champion enterprises from 2014 to 2024.The results indicate that patient capital significantly influences the development of strategic technological innovation in enterprises,with liquidity and financing constraints acting as mediating mechanisms.Regional heterogeneity analysis reveals that patient capital is more conducive to promoting strategic technological innovation in the eastern region,while its impact on strategic technological innovation in the northeastern region is relatively weaker.
作者
张杨
张莉
Zhang Yang;Zhang Li(School of Management,Bohai University,Jinzhou 121013;School of Business Administration,Northeastern University,Shenyang 110819)
出处
《渤海大学学报(哲学社会科学版)》
2026年第1期65-71,共7页
Journal of Bohai University:Philosophy & Social Science Edition
基金
辽宁省科学技术协会科技创新智库项目“绿色发展背景下推动我省有色金属材料高质量发展对策研究”阶段性成果(项目编号:LNKX2024A22)。
关键词
耐心资本
战略性技术创新
单项冠军企业
融资约束
patient capital
Strategic technological innovation
Unidirectional champion enterprise
financing constraints
