创业企业是我国经济转型、可持续发展不可或缺的力量,融资对创业企业的成长具有举足轻重的影响。创业企业融资的动机是什么?融资动机通过什么途径影响创业企业的成长?相关的研究还非常缺乏。本文通过对国内外企业融资相关理论的梳理,归纳出了创业企业融资动机、融资选择、融资选择影响成长性中介变量、成长性的维度划分以及它们相互之间的关系维度,提出了创业企业融资动机与成长性传导模型,构建了一个融资动机影响创业企业成长性机理的理论分析框架。
Entrepreneur firms are indispensable power in economy transition and sustainable development of China and financing has significant influence on the development of entrepreneur firms. The researches on what financing motivation entrepreneur firms have and how financing motivation influences growth of entrepreneur firms are still rare. In this paper, based on the review of literatures domestic and foreign on the theory of firm financing, we extract the dimensions of entrepreneur firms' financing motivation, financing choice, the intermediary variables of financing choice influencing growth and growth and the relation dimensions among these dimensions, propose a construction model of entrepreneur firms' financing motivation and growth, and construct a theoretical analysis framework of the functioning mechanism of financing motivation influencing growth of entrepreneur firms.