<section id="nice" data-tool="mdnice编辑器" data-website="https://www.mdnice.com" style="; color: black; padding: 0 10px; line-height: 1.6; word-spacing: 0px; letter-spacing: 0px; word-break: break-word; word-wrap: break-word; text-align: left; font-family: Optima-Regular, Optima, PingFangSC-light, PingFangTC-light, 'PingFang SC', Cambria, Cochin, Georgia, Times, 'Times New Roman', serif;"><h3 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">A股上市公司财务数据研究报告（2007-2022）</span><span class="suffix" style="display: none;"></span></h3>
<h4 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">数据概览</span><span class="suffix" style="display: none;"></span></h4>
<p data-tool="mdnice编辑器" style="; padding-top: 8px; padding-bottom: 8px; margin: 0; line-height: 26px; color: black;"><strong style="font-weight: bold; color: black;">时间跨度</strong>：2007-2022年<br>
<strong style="font-weight: bold; color: black;">覆盖范围</strong>：A股全行业（含生物医药行业专项数据）<br>
<strong style="font-weight: bold; color: black;">数据格式</strong>：面板数据<br>
<strong style="font-weight: bold; color: black;">特殊处理</strong>：已剔除金融行业，生物医药行业通过虚拟变量标识</p>
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<h4 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">核心指标说明</span><span class="suffix" style="display: none;"></span></h4>
<section class="table-container" data-tool="mdnice编辑器" style="overflow-x: auto;"><table style="display: table; text-align: left;">
<thead>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">指标类别</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">具体变量</th>
</tr>
</thead>
<tbody style="border: 0;">
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">基础信息</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">股票代码、公司简称、行业分类、上市日期</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: #F8F8F8;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">创新绩效</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">研发投入金额、专利授权数量</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">财务柔性</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">等权平均现金柔性/负债柔性、市值加权现金柔性/负债柔性（含总市值和流通市值）</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: #F8F8F8;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">融资约束</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">SA指数（衡量企业融资难度）</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">政策环境</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">EPU对数（经济政策不确定性指数）</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: #F8F8F8;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">财务健康状况</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">现金资产比率、资产负债率、营运资金、财务冗余度</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;"><strong style="font-weight: bold; color: black;">资产构成</strong></td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">货币资金、应收账款、存货、短期借款等</td>
</tr>
</tbody>
</table>
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<h4 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">数据表示例（简化）</span><span class="suffix" style="display: none;"></span></h4>
<section class="table-container" data-tool="mdnice编辑器" style="overflow-x: auto;"><table style="display: table; text-align: left;">
<thead>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: white;">
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">股票代码</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">是否生物医药</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">简称</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">研发投入(亿元)</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">专利授权数</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">SA指数</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">EPU对数</th>
<th style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; font-weight: bold; background-color: #f0f0f0; min-;">现金资产比率</th>
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</thead>
<tbody style="border: 0;">
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<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">600XXX</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">是</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">生物制药</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">2.34</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">15</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">-3.21</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">5.67</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">0.28</td>
</tr>
<tr style="border: 0; border-top: 1px solid #ccc; background-color: #F8F8F8;">
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">000XXX</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">否</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">科技股份</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">1.05</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">8</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">-2.78</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">5.72</td>
<td style="; border: 1px solid #ccc; padding: 5px 10px; text-align: left; min-;">0.15</td>
</tr>
</tbody>
</table>
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<h4 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">数据应用场景</span><span class="suffix" style="display: none;"></span></h4>
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<li><section style="margin-top: 5px; margin-bottom: 5px; line-height: 26px; text-align: left; color: rgb(1,1,1); font-weight: 500;"><strong style="font-weight: bold; color: black;">学术研究</strong>：分析财务柔性对企业创新绩效的影响</section></li><li><section style="margin-top: 5px; margin-bottom: 5px; line-height: 26px; text-align: left; color: rgb(1,1,1); font-weight: 500;"><strong style="font-weight: bold; color: black;">投资分析</strong>：评估行业政策风险与财务稳健性关联</section></li><li><section style="margin-top: 5px; margin-bottom: 5px; line-height: 26px; text-align: left; color: rgb(1,1,1); font-weight: 500;"><strong style="font-weight: bold; color: black;">战略决策</strong>：优化企业现金持有与负债结构</section></li></ol>
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<h4 data-tool="mdnice编辑器" style="margin-top: 30px; margin-bottom: 15px; padding: 0px; font-weight: bold; color: black; ;"><span class="prefix" style="display: none;"></span><span class="content">数据获取</span><span class="suffix" style="display: none;"></span></h4>
<p data-tool="mdnice编辑器" style="; padding-top: 8px; padding-bottom: 8px; margin: 0; line-height: 26px; color: black;">完整数据集包含全行业及生物医药细分数据，共16年面板数据，支持Stata/Excel格式分析。<br>
（注：原始数据文件已脱敏处理，不含交易信息）</p>
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<p data-tool="mdnice编辑器" style="; padding-top: 8px; padding-bottom: 8px; margin: 0; line-height: 26px; color: black;"><em style="font-style: italic; color: black;">数据来源：上市公司年报、国家知识产权局、EPU全球指数</em></p>
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