Study On The Relationship Among Sci-Tech Finance, Technological Innovation And Enterprise Performance

Under the circumstance of globalization, information and better knowledge, thecompetition is more fierce than ever, especially in technology enterprises. It is important tosupport technology enterprises with the financial resources for coping with fiercecompetition. However, technology enterprises are facing the financing difficulties for highinput and high risk, which affects the development of technology enterprises. Based on this,we choose the high-tech enterprises as samples and conduct the theoretical and empiricalanalysis among sci-tech finance, technological innovation and enterprise performance.In this paper, we choose the high-tech enterprises from2009to2012as the researchobject and generate121valid samples. In this paper, we use the software of SPSS19.0instatistical analysis and conclude the conclusions as follows:Firstly, on the aspect of the influence of sci-tech finance on technological innovationand enterprise performance:（1） Sci-tech finance has significant positive impact ontechnological innovation. Specifically, both the public sci-tech finance and the marketsci-tech finance have significant positive impact on technological innovation.（2）Sci-tech finance has significant positive impact on enterprise performance. Specifically,both the public sci-tech finance and the market sci-tech finance have significant positiveimpact on enterprise performance.（3） Technological innovation has significant positiveimpact on enterprise performance.（4） Technological innovation has a total mediatingeffect between sci-tech finance and enterprise performance. Specifically, technologicalinnovation has a total mediating effect between the public sci-tech finance and enterpriseperformance; technological innovation has a total mediating effect between the marketsci-tech finance and enterprise performance.Secondly, on the aspect of the influence of technological innovation and enterprise performance on sci-tech finance:（1） Technological innovation has significant positiveimpact on sci-tech finance. Specifically, technological innovation has significant positiveimpact on the public sci-tech finance and the market sci-tech finance.（2） Enterpriseperformance has significant negative impact on sci-tech finance. Specifically, enterpriseperformance has significant negative impact on the public sci-tech finance and the marketsci-tech finance.Finally, based on the conclusions and the current situation of the high-tech enterprises,the paper gives some recommendations about how to solve the problem of the financingdifficulties and improve the ability of technological innovation and the enterpriseperformance. At the same time, the paper points out the limitations of the research andproposes the future research prospects.