The Research On Mechanism And Efficiency Of Financial Support For The Development Of China's IOT Industry

Internet of things, as the highly integration and comprehensive application of a new generation in information technology, has unique features including strong permeability, wide radiation range and large potential scale. This technology is also an important component of strategic emerging industry. As a core factor of modern industry development, capital plays a fundamental role in the development of Internet of things, and is one of the key elements of its development as well. Therefore, it has the oretical and realistic significance to study financial support of IOT industry in China.Based on achievements about financial support for IOT industry from research ers at home and abroad, this paper aimed to seek for the financial support which was really suitable for the development of IOT industry. Firstly, according to life cycle theory, financing characteristics of IOT industry were analyzed. Secondly, on account of the field survey data about Wuxi IOT Industrial Park, this paper analyzed the financing situation and predicament of Chinese IOT enterprises, and provided evidence in order to put forward specific financial support policies. Thirdly, this paper did research into mechanism of financial instruments supporting IOT industry, including angel investment, risk investment, multi-level capital market and credit system, and thus constructed a financial support system for IOT industry, regarding angel investment as an incubator, risk investment as a catalyst, multi-level capital market as an exchange transfusion pool and credit system as a blood transfusion tube. Fourthly,to test the effect of financial support for Internet of things in China, this paper proposed a super-efficiency data envelopment analysis model(SE-DEA) to evaluate financing efficiency of these companies on IOT main board, SME board and GEM board under a sample of 96 IOT listed companies and used Tobit regression method to analyze influence factors on financing efficiency of these listed companies. Lastly, based on these theoretical analysis and empirical testing, this paper developed specific and feasible policy suggestions to achieve the core of completing financial support system for China's IOT industry and improving financing efficiency of Chinese IOT enterprises.