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本文以佛山市问卷调研数据为基础,对战略性新兴企业获得的金融支持与成长阶段的关系进行实证分析。实证分析结果表明,战略性新兴企业信贷资金的可获得性和存在的外部融资约束与所处成长阶段存在相关性,越是处于早期成长阶段的企业,获得信贷资金供给的可能性越小,存在的外部融资约束越严重。经验分析所蕴涵的启示是,金融支持政策应向早期成长阶段的战略性新兴企业倾斜。
Based on the questionnaire survey data of Foshan City, this paper empirically analyzes the relationship between financial support and growth stage of strategic emerging enterprises. The empirical analysis shows that there is a correlation between the availability of credit funds and the existing external financing constraints in the strategic emerging enterprises and the stage of their growth. The more companies are in the early stage of growth, the less likely they are to have access to credit funds. The more serious the external financing constraints. The implication of empirical analysis is that financial support policies should be tilted toward strategic start-ups in the early stages of growth.