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| Empirical Research on the Effect of Financing Constraints on Self-innovation of New Materials Industry in China |
| Wang Tao1,2,Liu Xueping1,Chen Zhijun1 |
1.Management School,Shandong University,Jinan 250100,China;
2.China Mobile ltd.Shandong Branch,Jinan 250001,China |
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Abstract Using the panel data from listed companies,this paper empirically tests the financing constraints on the self-innovation of new materials industry and the regulation of industrial cluster degree.Main findings and conclusions of this paper are as follows.Self-innovation activities of new materials industry are facing significant credit constraints.However,industrial cluster degree has significant positive correlation with self-innovation investment as well as effectively eases the self-innovation financing constraints.Therefore,it would be the effective measures for sustainable development of new materials industry by further strengthening policy guidance and industry management,and actively cultivating new materials industry clusters with healthy competition and a good atmosphere of cooperation.Key words:Financing constraints;Self-innovation;Industrial clusters degree;New materials industry 参考文献:[1]李准锡,王立杰.发展我国新材料产业投资基金的思路与对策[J].科技进步与对策,2004,(3):23-25
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Received: 30 December 2014
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2015, Vol. 0 
