创业板上市企业负债特征对rd投入影响的分析-analysis on the impact of debt characteristics of gem listed companies on r d investment.docx

重庆大学硕士学位重庆大学硕士学位论文英文摘要 PAGE PAGE IVAccording to the research ， taking equity financing as the foundation ， theenterprises choose a reasonable capital structure and moderate debt, which can reduce the agency cost and capital cost，supervise and restrict the adverse selection and moral hazard behavior，and also can promote the enterprise investment, encourage enterprisesto RD inputs. We should also further optimize the corporate bond market, especially develop secondary bond market and high-tech innovative enterprises and convertible bond market, and full play the role of small financial institutions, private capital in small business lending market. Secondly, compared to the pursuit of the expansion of enterprise scale, the GEM listed companies should pay attention to cultivate the enterprise research and development ability, enhance the enterprises development quality. Listing enterprises of the GEM should maintain their ability to high growth, high performance, high efficiency, and high market development as an important guarantee of enterprise health management. Maintaining the companys RD activity, and achieving a benign interaction among a reasonable debt ratio, the enterprise technology innovation and the development of growth enterprise market.Keywords: GEM; Character of Debt; RD Investment; High-tech Innovation重庆大学硕士学位论重庆大学硕士学位论文目录目 录中文摘要I英文摘要 II1 绪论 11.1 选题背景及问题 11.2 研究意义 21.3 研究思路及研究方法 21.4 研究内容与论文框架 31.5 本文主要特色及创新 42 文献回顾及相关理论基础综述 62.1 概念界定 62.2 文献回顾 62.3 国家资本市场体系与 RD 投入关系的分析 102.4 相关理论基础综述 112.4.1 MM 理论 112.4.2 权衡理论 122.4.3 代理理论 132.4.4 信号传递理论 152.4.5 优序融资理论 152.5 小结 163 我国创业板市场现状、债务特征及 RD 投入分析 173.1 创业板市场发展现状 173.1.1 创业板与中小板市场环境对比分析 173.1.2 我国创业板与国际主要创业板市场对比分析 183.2 创业板上市的企业特点及行业分布 203.3 我国创业板上市企业负债特征分析 203.3.1 创业板市场整体负债情况及对比 203.3.2 创业板企业资产负债率分布变化 213.3.3 创业板市场长期负债分析 223.4 我国创业板市场上市企业 RD 投入状况分析 233.5 创业板市场存在的问题对企业负债选择及 RD 投入的影响 253.5.1 严重的资金超募现象及其影响 253.5.2 高管辞职现象及其影响 263.5.3 企业上市前入股的原始股东套现行为及其影响 263.5