Research On Pattern Choice And Safety Of Government Science And Technology Investment To Enterprise

Along with science and technology's development becoming into international competition's predominant factor,mange countries enlarge in abundance to the technical investment. But science and technology's development cannot do without the support of fund the in the enterprise. At present, our country finance scientific research funding mainly invest to all kinds of technical plans and projects that the country set up as well as other significant items. Meanwhile, the finance fund is short in the technical research and development .Therefore the government is essential to the support of enterprise's science and technology input's. The government can draw the financial method, the policy method, the administrative method and the financial method to carry the research and development (R&D) activities, the R&D achievement application as well as the science and technology servicing activities and so on. The government mainly has four kinds of patterns to enterprise's science and technology input: the free financial allocation, financial subsidy, the finance loan on favorable terms and the government investment in stock. According to rate of use, paid or free, these four ways divided into paid investment and the non-repayable investment. The free financial allocation, financial subsidy and the government investment in stock belong to the non-repayable investment. Although the government investment in stock t belongs to the non-repayable investment, but it involves the fund the withdrawal question. The finance loan on favorable terms belongs to the paid investment. Through the research of Finnish, American and Indian government's science and technology input's, we may see the Finnish Government science and technology fund disbursement aspect mainly adopt the finance's appropriate funds and the science fund arrangement. It is characters of Finland technology development that the R&D primarily aims at technology exploiture the basic research for application. Finland's innovations in the investment mechanism are the science and technology loan operation of finance, the undertaking investment fund and the female fund operation. The character of financial technology loan is using many kinds of loan patterns and the supplemental conditions loan pattern. The female investment fund is one of important innovation investment ways in all kinds of investment funds. It is very big that our country's science and technology input profits from the female investment fund. The US government adopts the dispersive management to the technical funds, until now it has not formed a functional department exercising the administrative authority to the scientific and technological development. The US government adopts the way of funds to enterprise's science and technology investment. Simultaneously, our country can profits from the funds'subsidization standard based on the achievements of US. At the same time, we also have studied the present situation of our government's science and technology investment to enterprises, mainly analysis from the science and technology investment's total quantity and the investment pattern. Consequently, we obtain the questions about our country Government's science and technology investment to the enterprises: The way is unitary of the finance funding investment; The government lacks the effective supervisement and the appraisal mechanism to science and technology investment; Science and technology venture capital can't withdrawal efficiently; The innovation is insufficiency, especially the small and medium-sized enterprises; Financial science and technology funds is waste because the technical plan master plan is insufficiency; The total quantity is insufficient of government to the enterprise science and technology investment and the structure is unreasonable. In view of the questions about our country Government's science and technology investment to the enterprises, It is the main question that how the government chooses the appropriate investment pattern and ensures the investment safety. The primary factors influencing the government investment on science and technology to the enterprise investment is that: the nature of enterprise's ownership; the enterprise's financial situation and the ability of repayments; financial funds'endurable ability; the effect of using financial funds ; National industrial policy and developmental strategy; the stage of projects ,nature and so on. The four main patterns of science and technology investment that the government uses have their good and bad points respectively; When carries on the choice to these four kind of investment patterns, the government establish some basic conditions to the enterprise applying for the technical fund, such as the conditions the enterprise and the project must meet with. The government will appraise the enterprises that meet with conditions after the preliminary filtration to the enterprises who apply for the technical fund. The appraisement adopts the way of grade by expert and carries on sorting, finally chooses the most appropriate enterprise and allocates funds by the Finance department and the science and technology Department responsible for the work. In order to weaken or eliminate the negative influence of each kind of science and technology investment pattern, the government can attempt to combine many kinds of investment patterns. Actually, the pattern choice in fourth chapter also belongs to a part of investment security. It belongs to the appraisement in anticipation of government science and technology investment security .For the guarantee of government science and technology funding investment's effective use and the security, we have conducted the research on the security of government science and technology investment. We proposed the entire stage's safety mechanism of government science and technology investment. That is the appraisal mechanism in anticipation, supervising mechanism, afterward appraisal mechanism, as well as the withdrawal mechanism afterward. As a result of the government has different investment way and the investment idea's, it causes the different supervising mechanism. To the government's free investment fund's surveillance, we propose to establish the inspection system the track-ask system, financial inspection and the evaluation system of achievements, the report and the run-responsibility system of finance science and technology funds. To government creditor's rights fund investment; we should strengthen the special management and afterward inspection of loan except the mechanism above-mentioned. Moreover, the management section of science and technology and the bank of loan should establish the coordination mechanism of loan and the supervisement mechanism of graveness risk. To the government's stockholder's rights investment, we can adopt the investment strategy by stages and the different enterprise's different surveillance pattern. The government should adopt a positive participation attitude to supervise pioneering stage's enterprise and a general attitude to supervise the enterprise whose management is perfect. The afterward appraisal mechanism of technical fund mainly aims at establishing to the appraisal mechanism to the use of technical fund gradually. The projects are divided into three types when we carry on appraisal to the use of technical funds achievements: The innovative project, the industrialization project and the technical foundation platform items of basic construction. The government directly makes the results of appraisal as the gist that financial funds enters or withdraw the enterprises next step. The technical fund's safe withdrawal mechanism mainly aims at the financial creditor's rights investment (finance loan on favorable terms) and the stockholder's investment. These two investments way involve the question of fund withdrawal. To the financial creditor's rights investment, we design the withdrawal way of paying off the principal and interest, the loan guarantee, the reorganization of debt, the introduction of strategy investor, the property mortgaged. We can also lease and auction the real asset which the non-performing loan is mortgaged. What's more, these can be used that attornment through agreement and debt transferred shares of stock. The government's stock investment can withdraw through the way of IPO in the stock market, the way of agreement sell in the property market, the stock's buy-back of corporation, the way of settlement through bankruptcy. The government should grasp the venture capital's withdrawal opportunity and choose the different withdrawal way according to enterprise's growth situation and the growth result. Finally, we propose some suggestions to our government's science and technology investment to the enterprise. That is the government continues to display the leading role of investment, but simultaneously strives for the multiplicate channel and the pattern of investment; strict scientific research's examination to project, optimize the direction that science and technology funds go to; speed up to carry on the legislation of the finance science and technology investment and the management to standard government's technical investment, advance the union of produces - study– grinds to the promote the use effect of science and technology investment .