| 摘要: |
| 将社会资本这一社会学概念引入到金融学领域展开研究，为优化企业融资决策拓 展了新的思路。本文以2011年1月1日之前在深圳交易所创业板上市的高新技术企业为研究样 本，实证分析了社会资本对高新技术企业融资行为的影响。研究发现：社会资本能帮助企业积 累良好的声誉以及获取关键性资源，对我国高新技术企业融资行为产生了积极的影响；并且， 社会资本越高的企业，选择债务融资方式的可能性越高。 |
| 关键词: 社会资本；融资行为；资本结构；债务期限结构 |
| DOI： |
| 分类号:F830.59 |
| 基金项目:本文获西南大学研究生教改项目（项目编号： 2013JGAL002）和西南大学教学改革项目（项目编号：2017JY004）资助。 |
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| Influence of Social Capital on Financing Behavior of New and High Technology Enterprises |
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Yang Rui Yang Bin
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College of Economics and Management, Southwest University
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| Abstract: |
| The sociological concept of social capital is introduced into the field of finance, which will provide a new idea on optimizing the financing decision-making of enterprise. This paper empirically analyzes the influence of the social capital on the financing behavior of the new and high technology enterprises by taking the new and high-tech companies listed on GEM before January 1, 2011 as samples. The results show that the social capital can help enterprises accumulate good reputation and obtain key resources, which has a positive influence on the financing behavior of new and high-tech enterprises in China. Moreover, the more social capital the enterprises have, the more likely it is to choose debt financing. |
| Key words: Social Capital; Financing Behavior; Capital Structure; Debt Maturity Structure |
