Study Of The Efficiency Of R&D Investment In Technological Finance Based On The Data Of High Technology Industry

The world today,with the deepening of technology and economic globalization,the combination of technology and finance has become an important mean and basic guarantee of the construction of innovation-oriented countiy.Economic development and social progress increasingly rely on technological innovation capability and efficiency of financial markets,especially the integration of technological innovation and financial markets.R&D activitie has become one of the major technological innovation activities,it is a measure of the size of country's scientific and technological activities and an important indicator of the national evaluation of technological strength and innovation ability.In R&D activities,R&D resources investment is the basic premise of technology innovation activity smoothly carries on,R&D input is the source of technological innovation and technological progress,it is the inner motive power of promoting economic growth,it is also an important factor to promote Chinese economic transformation.The research of R&D investment and efficiency has been more academic attention.Since the reform and opening,Chinese total R&D investment and strength has been greatly improved,promoted the development of Chinese technological innovation activities,laid an important foundation for the sustained and healthy development of Chinese social and economic.Deeply and systematically theoretical analysis and empirical research of the efficiency of R&D investment,is good to further improve the R&D resource allocation and strengthen the R&D investment management and improve the efficiency of R&D activities and constantly enhance our international competitiveness and accelerate Chinese economic growth mode.First of all,the paper briefly introduces the concept and scope of technological finance and R&D investment and the meaning of the efficiency of investment,and review the domestic and international literature related to the efficiency of R&D investment.Then after collecting relevant R&D statistics,the study puts the three-stage DEA model and DEA-Malmquist index into the analysis and evaluation of R&D investment efficiency,and concludes on the basis of empirical analysis:The comprehensive efficient value of R&D investment in technological finance of our country is low,and it is mainly affected by low scale efficiency,pure technical efficiency has the less affected;From 2009 to 2013,the efficiency of R&D investment in technological finance of our country has no obvious progress;the efficiency of R&D investment of the regional difference is very obvious,and it is strongly influenced by the environment variable-According to the empirical results,the paper put forward policy suggestions targeted to improve the efficiency of R&D investment in technological finance of our country.