中文摘要：

从高新技术企业当前状态、自身发展与行业比较3方面设计4维度企业生命周期判定方法，在理论分析融资渠道及对高新技术企业创新绩效影响基础上，采用上市企业数据揭示其作用关系。结果表明：初创期政府经费与创新绩效成线性正相关关系；成长期白有资金与创新绩效成3次方关系；成熟期外部企业投资首先导致绩效显著提升，进而小幅提升；银行贷款与外部企业投资相同；衰退期银行贷款与创新绩效成二次方关系，留存收益则为显著线性正相关关系。

英文摘要：

This paper designed the four dimension high and new enterprise fife cycle stage identification method from three aspects-enterprise current situation, self-development, and industry comparison. Based on theoretical analysis of capital rai- sing approach influence method on high and new technology innovation performance, the interacting relationship is discov- ered using data of listed company. Results show that, in establishing stage, government expenditure has positive linear rela- tionship with innovation performance. In growing stage, enterprise self-owned capital has cubic formula relationship with in- novation performance. And in mature stage, with the increase of external enterprise capital input, the innovation perform- ance enhances greatly at the first stage and then down to gradual improvement. The bank advance is the same as external en- terprise capital input. In declining stage, bank advance has squarer formula relationship with innovation performance and enterprise self-owned enterprise has positive linear relationship.