Research On Financial Supportive System Of Independent Innovation In Small And Medium-sized Enterprises

With the continuous deepening of economic globalization and market competition, independent innovation is playing increasingly important strategic role in national competition as well as science and technology development. The practice of economic development in every nation has proved that independent innovation is a source for economic growth and an inexhaustible motive fore for the sustainable development. In China, small and medium-sized enterprise has become an important drive for national economy development. And it is commonly acknowledged that independent innovation in such enterprises has been playing significant part in improving product competitiveness and promoting a shift in the mode of economic growth. Particularly, in building innovative country, small and medium-sized enterprises are irreplaceable. In order to realize China's great goal in economical and social development, Chinese government should place great emphasis on the function of independent innovation in small and medium-sized enterprises. On the one hand, government should enlarge the amount of direct investment for technological innovation; on the other hand, government should also increase indirect investment for supporting small and medium-sized enterprises to be the main innovative force. Thus, government could help enterprise effectively overcome hindrance and difficulties in development and innovation, so as to promote the healthy and sustainable development of small and medium-sized enterprises. In addition, it also has important theoretical and realistic value for improving enterprise's independent innovation and for building an innovative country at a higher speed.This thesis includes such three parts as theoretical basis, survey analysis, and financial supportive system. To begin with, it summarizes and analyzes the characteristics and role of Chinese small and medium-sized enterprises, as well as the research backgrounds, significance and state of study at home and abroad , then a sample survey is made for some small and medium-sized enterprises in Sichuan province; next statistic analysis is made to present the current situation of innovation in small and medium-sized enterprises and the shortage of financial investment which is the main factor influencing their independent innovation; finally, on the basis of analysis of preventive factors of financial support for independent innovation, a complete financial supportive system is established for independent innovation of small and medium-sized enterprises.This thesis includes four chapters.Chapter One: introduction. This part analyzes, one by one the research backgrounds, significance, methods, thought line, and innovation in the research. It also summarizes the research state at home or abroad on both independent innovation of small and medium-sized enterprises and financial supportive system for their independent innovation. The financial supportive system is a practice-oriented proposition, which is not only supported by theories but also testified by practice. This chapter makes a general introduction of whole outline, theoretical framework and systemic structure.Chapter Two: analysis of survey on small and medium-sized enterprise innovation. This chapter analyzes the concept of small and medium-sized enterprises and their characteristics, definition of independent innovation, and its functions. After this, sample survey of current independent innovation and influencing factors is designed and made for some small and medium-sized enterprises in Sichuan province. After statistic analysis, it is concluded that shortage of financial investment and weak degree of financial support is the main factor affecting independent innovation in small and medium-sized enterprises.Chapter Three: analysis of the bottleneck in Chinese small and medium-sized enterprise innovation. This part makes a systemic analysis and description, on the basis of sample result and research theories, of the bottleneck in financial support for independent innovation in small and medium-sized enterprises. It is discovered in the research that the major affecting factors, which hinder Chinese small and medium-sized enterprise innovation, includes unitary source of funds, insufficient investment in research and exploration, not-well-developed legal system, deficient financial credit support, not-so-good guarantee system, poor social service, hash market access conditions, poor management. This part sets a theoretical basis for the financial supporting system design in Chapter Four.Chapter Four: Creation of financial supporting system for Chinese small and medium-sized enterprise innovation. In this chapter, a financial supportive system is established with comprehensive fuzzy evaluation method and the method of capital cost calculation. It mainly includes three models: model of threshold for market access for small and medium-sized enterprises, model of interim control and management of financing program for independent innovation, and model of transformation of scientific and technological achievements. Model of threshold for market access for small and medium-sized enterprises includes the following four parts: the principles of assessment system for ability of independent innovation in small and medium-sized enterprises, assessment indicator system and explanation of indicator, assess weights determined by hierarchical analysis, and fuzzy evaluation on ability of independent innovation in small and medium-sized enterprises. Model of threshold for market access for small and medium-sized enterprises can make financial support on the innovative enterprises, which can improve efficiency of financial support on small and medium-sized enterprises; model of interim control and management of financing program for independent innovation can check and verify the innovative projects of small and medium-sized enterprises so as to avoid misappropriate founds and other acts out of interim control, so that the successor of money can be rearranged and different acts of innovation in different enterprises can either be awarded or punished; model of transformation of scientific and technological achievements can make good use of governmental serving platform of innovation achievements, and serve the market-hunting of innovation achievements for the donated enterprises. This model mainly includes assessment and verification of innovation achievements, examination and approval for production of innovation achievements, and shift from production of innovation achievements to their sale and their profit distribution. Model of transformation of scientific and technological achievements is the auxiliary supportive system of financial supportive system for independent innovation in small and medium-sized enterprises, and it provides the professional and matched service for small and medium-sized enterprises, so that it can indirectly increase new impetus for their independent innovation, balance the loss and profit in the whole financial supportive system, and motive virtuous circle of internal finance in the financial supportive system for independent innovation in small and medium-sized enterprises.Finally, the basic research conclusion is achieved after summarizing the whole paper. Further, some suggestions are made on the policy of enterprise management and the shortage of current research as well as future direction of studies is pointed out in the end.