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本文以科技创新型企业与跨国公司之间的技术不确定性的异质性以及获得资金难易性程度的差异为出发点,运用熵理论和科技创新型企业与跨国公司各自研发的投资策略,建立了二者的技术不确定性的计量模型和投资期权模型,并以此揭示了科技创新型企业先于跨国公司进行生物技术研发的真实原因。
Based on the heterogeneity of technological uncertainty between technology-based innovative enterprises and multinational corporations and the difference in the difficulty of obtaining funds, this paper uses the entropy theory and the investment strategies developed by each of S & T-based and multinational corporations to establish a The econometric model and the investment option model of the two technologies are used to reveal the true reasons for the innovation of science and technology enterprises in transnational corporations in biotechnology R & D.