高师理科学刊2024，Vol.44Issue(4)：31-39,67,10.DOI:10.3969/j.issn.1007-9831.2024.04.007
基于文本分析法经验证据的企业风险感知与投资策略选择
Enterprise risk perception and investment strategy selection based on empirical evidence from text analysis method
摘要
Abstract
Reinforcing investment in real enterprises is an important foundation for achieving high-quality economic development.Based on the annual reports of listed companies,a micro-enterprise risk perception index was constructed,and the impact and mechanism of enterprise risk perception on investment strategy selection were explored.The research found that increased risk perceptions of firms can lead to firms diverting out of the real economy.Further analysis reveals that the deepening of enterprise risk perception will promote the process of enterprise financialization through two channels:financial flexibility and cost-benefit.The moderating effect found that the application of digital technology and financing constraints significantly promoted the impact of corporate risk perception on corporate financialization,while the increase in tax incentives alleviated the inhibitory effect of corporate risk perception on physical investment.In addition,heterogeneity testing indicates that the degree of risk perception of non-state-owned enterprises is more significant in promoting corporate financial investment.Therefore,it is important to stabilize the risk expectation of enterprises and alleviate their risk perception at source,in order to revitalize the real economy and promote high-quality economic development.关键词
风险感知/投资策略/金融化Key words
risk perception/investment strategy/financialization分类
数理科学引用本文复制引用
田芷彧,张波..基于文本分析法经验证据的企业风险感知与投资策略选择[J].高师理科学刊,2024,44(4):31-39,67,10.基金项目
2023年度安徽省社会科学创新发展研究攻关项目(23CX033) （23CX033）
