文章基于对兵团科技型企业的调研,从微观视角分析不同融资方式对科技型企业R&D投入的影响。实证研究表明:银行贷款和民间借贷对企业的R&D投入贡献最大,政府资助、科技创新基金和企业利润对企业发展的贡献力度仍待加强。最后针对实证结果从政策保障体系、银行信贷模式创新、民间金融服务提升等方面提出相应的政策建议。 Based on the investigation of Corps science and technology enterprises, the article analyzes the impact of different financing modes on R & D investment of science and technology enterprises from a micro perspective. Empirical studies show that bank loans and private lending contribute most to the R & D investment of enterprises, and the contribution of government subsidies, science and technology innovation funds and corporate profits to the development of enterprises still needs to be strengthened. Finally, according to the empirical results from the policy support system, bank credit model innovation, civil financial services promotion and other aspects of the corresponding policy recommendations.