统计与决策2025，Vol.41Issue(4)：132-137,6.DOI:10.13546/j.cnki.tjyjc.2025.04.023
财政补贴、金融杠杆与企业高质量发展
Financial Subsidies,Financial Leverage and High-quality Development of Enterprises
摘要
Abstract
This paper takes Shanghai and Shenzhen A-share listed companies from 2014 to 2021 as the research object,uses the entropy weight method to measure the high-quality development level of enterprises,and empirically explores the relationship between financial subsidies,financial leverage and high-quality development of enterprises.The results go as the following:The overall level of high-quality development of enterprises is on the rise.Financial subsidies are positively related to the high-quality development of enterprises,that is,the increase of financial subsidies can improve the high-quality development level of enter-prises.The impact of financial leverage on the high-quality development of enterprises shows an inverted U-shaped nonlinear fea-ture.Heterogeneity analysis shows that fiscal subsidies and financial leverage play a greater supporting role in state-owned and technology-intensive enterprises.In the central and western regions and non-provincial capital cities,financial leverage and fi-nancial subsidies can help the high-quality development of enterprises,while the promotion effect on the eastern region and pro-vincial capital cities is relatively small.关键词
财政补贴/金融杠杆/企业高质量发展/调节效应Key words
financial subsidies/financial leverage/high-quality development of enterprises/moderating effect分类
管理科学引用本文复制引用
蒋永彩..财政补贴、金融杠杆与企业高质量发展[J].统计与决策,2025,41(4):132-137,6.基金项目
国家社会科学基金重大项目(17ZDA053) （17ZDA053）
