| Enterprise is the main body of technological innovation, which need to invest a lot of resources and face a great risk, needing a special financial system--the support of SCI-TECH finance. In recent years, from the central to local governments are actively constructing the mechanism and system of combining technology with finance, building diversified financing channels composed by SCI-TECH bank, risk investment institutions,SCI-TECH insurance, bond market and government finance basically, trying to promote the technical innovation of enterprise through SCI-TECH finance.This paper basing on the financing support of Enterprise technological innovation need and the basic characteristics of high-tech industry, taking Jiangsu Province’s SCI-TECH Finance as the research object, through evaluation on Jiangsu province’s SCI-TECH Finance Index, understand nearly ten years’ trend of Jiangsu province SCI-TECH Finance development and the key index impacting on its development. This paper then analyses each SCI-TECH Finance’s participant investment influencing factors,trying to find out the investment motivation of each participant, better for helping high-tech enterprises finance.this paper, guided by the thought of combining theory with practice, with qualitative and quantitative research methods, respectively research from the following aspects and draws the corresponding conclusion:On theory aspect, this paper firstly summarized the domestic and foreign research situation about definition, theory, system, measurement and all parties’ function of SCI-TECH Finance. Secondly, this paper analyses the development situation of Jiangsu province SCI-TECH finance on six aspects of technology bank, venture capital institutions,technology insurance, technology capital market, government policy support environment and SCI-TECH input and output. Finally, this article research on the each participant ofSCI-TECH finance function mechanism and supply and demand’s analysis of high-tech enterprises’ fiance in each stage.On empirical analysis aspect, this paper mainly contains two parts: First, based on the previous research, the loan of SCI-TECH index, venture investment index, capital market index,SCI-TECH insurance index and technology finance development and environmental index of five dimensions including 12 sub-indicators construct Jiangsu Province’s SCI-TECH financial evaluation index, and then use the Grey Target theoretical model to approaching degree and contribution degree analyses Jiangsu province SCI-TECH index of2002-2011 years.The research found that Jiangsu Province’s SCI-TECH Finance Index from 2008-2011 showed an increasing trend year by year. the overall development level of SCI-TECH Finance Index is mainly influenced by the world financial environment.Three kinds of index influencing SCI-TECH Finance Index from large to small is the guiding function of government, the distribution and investment of financial institution. Secondly,this article, respectively from bank, venture capital institutions, the government and the enterprises four aspects, that use SPASS17.0 to correlation and regression analysis on2004-2011 related variable data, trying to find out the influencing input factors of Jiangsu province’s SCI-TECH finance each participant. The research found that the bank, risk investment institutions, the government and the enterprises investment motion vary, the bank focusing on enterprise’s operating capacity and the mortgage ability; risk investment institutions paying attention to the potential for the development of enterprises; the government valuing the enterprise produces the macroscopic economic benefit and social benefit; enterprise oneself finally according to its own operation ability,the competition environment and the incentive function of government invest. |
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