The Impact of Financial Constraint on the Decision for Comprise Technology Innovation Items Investment

Technological innovation investment has the features of high risk and asymmetry information. The enterprise cannot identify the financial constraint clearly and the external investors can decrease investment desire, which lead to more conflict between investment inclination and financial constraint. With the classi-fication of the technological innovation enterprise, using the recursion divaricated probability model, this pa-per studies the impact of financial constraint on the decision for comprise technology innovation items in-vestment. Selecting partial manufacturing industry enterprises of Xi'an Economic Development Zone as the samples, it establishes financing restrains and innovates project investment probability decision-making mod-el. Furthermore, this paper analyzes their influence factors and correlations, while it promulgates the influ-ence variables of finance aspect in the enterprise technological innovation decision-making process.