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在现今社会,企业创新能力的提高离不开金融体系的支撑,然而金融错配所导致的金融资源分配不平衡阻碍了企业的原始性创新活动。因此,科学地对我国现阶段的金融错配程度进行评价,准确分析金融错配对企业技术创新模式选择的影响具有重要的现实指导意义。本文首先对我国现阶段的金融错配程度进行测算,从宏观和微观两个角度分析我国金融错配程度的现状。然后,通过聚类分析对企业所选择的创新模式进行归类判断,并采用二分类的logistic回归,分析金融错配程度与企业创新模式选择的关系,通过回归结果发现金融错配的存在阻碍企业选择自主创新模式。
In today’s society, the improvement of enterprise’s innovation capability can not be separated from the support of the financial system. However, the unbalanced distribution of financial resources caused by financial mismatch hinders the original innovation activities of enterprises. Therefore, it is of great practical significance to evaluate the degree of financial mismatch in our country scientifically and accurately analyze the influence of financial mismatch on the choice of technological innovation mode of enterprises. This paper first estimates the level of financial mismatch in our country and analyzes the status quo of the degree of financial mismatch in China from the macroscopic and microscopic perspectives. Then, the clustering analysis is used to classify the innovation mode selected by the enterprises, and the dichotomous logistic regression is used to analyze the relationship between the degree of financial mismatch and the choice of enterprise innovation mode. The regression results show that the existence of financial mismatch hinders the enterprise Choose independent innovation mode.