导　　师： 邵希娟

学科专业： 1201

授予学位： 硕士

作　　者： ;

机构地区： 华南理工大学

摘　　要： 2007年12月广东省委十届二次全会召开，揭开了广东产业转型升级全面推行的序幕，因此以2007年12月之后定为所研究的产业转型升级期。从文献研究来看，暂时没有发现研究产业转型升级期广东企业投资行为的文献，而对该时期广东企业投资行为的研究，为检验该时期广东现行政策与措施的有效性提供了依据和参考，同时也对政府和企业从不同的角度努力来更好更快的实现广东转型升级起到一定的引导作用。因此，研究产业转型升级期广东企业投资行为具有较重要的意义。 文章首先查阅目前广东、国外及国内其他地区针对产业转型升级的相关研究文献，并对国内外企业投资行为的研究进行归纳，在此基础上明确指出本文从企业投资动机、投资方向与力度、投资决策方法三方面来研究企业投资行为。然后，针对研究内容，从当前广东企业的投资环境分析入手，结合企业投资行为的影响因素理论研究，提出广东企业投资行为的相关研究假设。接着，根据研究假设，设计调查问卷；针对问卷调查的结果，运用多种方法进行统计分析，并引入SEM模型来深入研究企业投资行为影响因素对其影响程度的定量化值。最后，根据统计分析与SEM实证结果，从政府、企业两方面提出建议以促进产业转型升级工作的开展。 根据统计分析与SEM实证结果，得到产业转型升级期广东企业投资行为主要结论如下：（1）广东企业投资行为的特点：在投资方向与力度方面，广东企业的投资方向与力度受该时期产业导向政策的影响，并与企业对政策的了解程度有关，企业对政策越了解，其投资方向与投资力度受政策的影响就越大，越倾向于投资到政策鼓励的项目中去；在投资动机方面，该时期广东企业的投资动机仍然以利润目标为主导，注重提高市场份额以及公司发展战略的实施；不同的是，该时期广东企业响应产业政策的投资动机明显，而以往的调查结果（潘明霞，2009）则表明政府推荐的项目是最不受企业重视的投资动机；在投资决策方法方面，该时期广东企业在投资决策时使用最频繁的是最不科学的会计收益率法，其次是主观判断法、静态回收期法，最科学的方法（NPV、IRR和动态回收期法）却排在最后；也发现，管理者的学历越高，使用的投资决策方法越科学；（2）在企业投资行为影响因素方面，利用SEM模型分析，得出每一种因素对企业投资行为影响程度的具体值，从数值来看广东企业投资行为受政策环境影响最大，经济环境因素和企业自身因素的影响相对较小；（3）广东绝大部分企业对政府政策有所了解，但总体而言了解的深度不够；（4）广东大部分企业已经开始意识到某些对企业发展很重要的政策的重要性，如品牌的打造、技术的研发和信息技术的应用等方面，并且都比较积极的顺应这些投资环境的需求，加大对这些方面的投资力度；（5）该时期出台的政策对企业投资有一定的帮助，并且帮助最大的方面，也是企业最需要解决的困难。 希望本文的研究结论能为广东产业转型升级更好更快的实现提供一定的借鉴。 In December2007, the10th second plenary meeting of Guangdong Province partycommittee was held, it uncovered the prelude of the full implementation of thetransformation and upgrade of Guangdong's industry, so the period after December2007isset as the transformation and upgrading of industry. From the literature research, I found noresearch literature about industry transformation and upgrading of Guangdong enterpriseinvestment behavior, but the research for Guangdong enterprise investment behavior in thisperiod can provide the basis and the reference to test the effectiveness of Guangdong currentpolicies and measures in this period,and also for the government and enterprise,it plays alead role angles to better and faster realize the transformation and upgrading of Guangdongfrom different point of view. Therefore, the research of enterprise investment behavior inthe period of industry transformation and upgrading of Guangdong has a vital significance. In the article, I first look up the research literature of current Guangdong, foreign anddomestic other areas of the transformation and upgrade for industrial, and conclude todomestic and international enterprise investment behavior research, also explicitly point outthat this article studies enterprise investment behavior from three aspects: the enterpriseinvestment motivation, investment direction and the strength, the investment decision-makingmethod. Second, according to the research content, from the current Guangdong enterpriseinvestment environment analysis, and combined with the influence factors of enterpriseinvestment behavior theory study, puts forward the Guangdong enterprise investmentbehavior of related research hypotheses. And the third, based on the research hypotheses,design a questionnaire. According to the results of the survey, using a variety of statisticalanalysis method, and introducing SEM model to research enterprise investment behaviorinfluencing factors on the influence degree of quantitative values. Finally, according to theresults of analysis, Suggestes to promote the industry transition upgrade work developmentfrom the government and the enterprise two sides. According to the results of analysis, I get the main conclusions that enterprise investmentbehavior of Guangdong in the period of industry transformation and upgrading as follows:/(1/)the characteristics of Guangdong enterprise investment behavior: in investment direction andenforcement, Guangdong enterprise investment is influenced by the industrial guidance policyin this time, and is related with the understanding levels to the policy, the more theyunderstand the enterprise to policy, the greater the influence by the policy, and more tend toinvest to encouraged project; In the investment motivation, the period Guangdong enterprise investment motivation is profit target for the leading still, pay attention to improve marketshare and the implementation of the strategy of developing the company; The difference is,this period Guangdong enterprise response industrial policy investment motives obviously,but the past results /(Pan ming xia,2009/) indicate that the government recommended projectsare the lest valued by enterprises; In the investment decision-making method, this periodGuangdong enterprise used in the investment decision-making most frequently is the scienceof accounting method yields, followed by subjective judgment method, the method of staticpayback period, most scientific method /(NPV, IRR method and dynamic capital is recovered/)but row last; Also found that the higher degree of the managers, the use of investmentdecision-making method is more scientific;/(2/) In the enterprise investment behaviorinfluencing factors, using SEM model analysis, conclude the value of each factor to theenterprise investment behavior influence degree, from these values, we can see that thebiggest influence is policy environment, economic environment factors and the influence ofthe enterprise itself influence little;/(3/) most of the enterprises understand somewhat aboutgovernment policy, but in general, the depth of understanding is not enough;/(4/) most ofGuangdong enterprises have begun to recognize some of the important policies for enterprisedevelopment is very important, such as the making of the brand, technology research anddevelopment and the application of information technology, etc, and are more positiveconform to the needs of the investment environment and increase investment in these aspectsof the investment;/(5/) the policy in the period for enterprise investment is helpful, the mosthelpful to some is also the most need to solve the difficulties of the enterprises. I hope that this research conclusion may provide certain reference for the realization ofGuangdong industry transformation and upgrading better and faster.

关 键 词： 产业转型升级期 广东企业 投资行为 投资影响因素

分 类 号： [F275.5 F224]

领　　域： [经济管理] [经济管理] [经济管理]