Financial Structure Support For The Development Of Regional Innovation System: Theoretical And Empirical Research

Advancing regional innovation system (RIS) development has been becoming the core competitive strategy for a region, even a country, to own competitive advantage. Financial issue, which is the core factor of modern economy system, will bring systematic effects to RIS. The existing theory is short of systematic research in this filed. Many regions try to copy Silicon Valley pattern, but most of them cannot realize the pattern successfully. Obviously, the existing theory and practice experience cannot satisfy the individual development need of every region, especially the reform and upgrade needs of Chinese regions. As a result, using the systematic theory of financial structure to research the financial support in RIS development theoretically and empirically is urgent.Based upon financial structure theory, innovation theory, transaction cost theory and literatures review, this paper utilize deduction, induction and normative analysis methods to research how does the financial structure affect RIS, and theoretically discuss how can financial structure matching RIS in different development period. And then this thesis uses empirical study, qualitative and quantitative analysis methods to evaluate financial support efficiency in Chinese RIS development, and proposes some political advices.This thesis gets several conclusions and innovation points, they are:Financial structure is the combination of attribute and function for financial resource and system, and it is one of the input essential for RIS development. As a result, financial structure can affect RIS through innovation protagonist, organization running and institution innovation. Initial stage RIS should match bank-based financial structure. Intermediate stage RIS should match flexible and multi-level financial structure. High-level stage RIS should match market-based financial structure with big bank as assistant. Bank-based financial structure is efficient for Chinese RIS development in present stage. But there are some structure mismatch problems. China needs carry out diversity financial structure adjustments, maintain bank-based financial structure, diversify financial tools in market and advance bank reform, so as to efficiently support RIS development.