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Research On The Effect Of Science And Technology Finance On Science And Technology Innovation

Posted on:2018-12-02Degree:MasterType:Thesis
Country:ChinaCandidate:W J LiuFull Text:PDF
GTID:2359330515985522Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
Since the 18 th National Congress of the Communist Party of China(CPC),the CPC Central Committee and the State Council have attached great importance to scientific and technological innovation and made significant decision-making arrangements for in-depth implementation of innovation-driven development strategies.The development of scientific and technological innovation and the promotion of industrial upgrading are the only way for China to turn from "Made in China" to "Createin China ".Science and technology finance is an important form of FUNDING support for real economy,especially high technology and applied industry.The innovation of science and technology has the characteristics of high risk and high yield.It is the source of the development of high-tech industry,which requires a lot of capital and resources.Therefore,the capital investment from the science and technology financial system is very important for the development of capital-intensive high-tech enterprises.At present,there are still some problems in the science and technology financial system of Guangdong Province.Financial support cannot meet the demand of funds for scientific and technological innovation.It is difficult for high-tech enterprises,especially small and medium-sized technology enterprises,to obtain sufficient financing support.To meet the rapid development of scientific and technological innovation,we need to further improve the scientific and technological financial system in Guangdong Province.Therefore,to explore the mechanism of science and technology to support scientific and technological innovation mechanism and transmission path,to build a sound scientific and technological financial service system is imperative.First of all,this paper constructs the theoretical analysis framework of science and technology finance to support the development of science and technology innovation,defines the science and technology finance and scientific and technological innovation,sums up the characteristics of scientific and technological innovation,and further analyzes the unique mechanism and path of science and technology financial support science and technology innovation development.Secondly,this paper studies the current situation of scientific and technological innovation and the development of science and technology in Guangdong Province,and finds out that Guangdong Province's scientific and technological innovation and science and technology finance have achieved remarkable results,but there are still some problems.In the aspect of empirical,this paper refers to the practice of other scholars and selects the scientific and technological innovation and science and technology financial indicators according to the principle of data availability.Then,the relationship between science and technology finance and scientific and technological innovation in Guangdong Province is verified by principal cause analysis,cointegration test,impulse response and error decomposition test.The empirical test verifies the relationship between the science and technology finance and the innovation of science and technology and the problems in the process of science and technology financial support in Guangdong province.Finally,this paper summarizes the views and puts forward targeted policy recommendations.In Guangdong Province,there are significant scientific and technological achievements,scientific and technological financial investment continues to increase,a number of indicators are in the forefront of the domestic.The empirical results show that there is a balanced and stable relationship between scientific and technological innovation indicators and science and technology financial indicators,and science and technology finance has effectively promoted the development of scientific and technological innovation.However,there are still some problems in the process of scientific and technological innovation and support of science and technology in Guangdong Province: the financial science and technology investment is not enough and the basic research investment is too low;the bank financial innovation ability and the management level are lagging behind;the loan guarantee system needs to be strengthened;the risk compensation mechanism is not in place;Technology enterprises multi-level direct financing channels;venture capital,Internet finance and other new financial institutions are still small.This paper puts forward some suggestions on how to improve the science and technology financial system of Guangdong Province.
Keywords/Search Tags:Technology Finance, Science and Technology Innovation, Science and Technology Loans, Capital Markets, Venture Capital
PDF Full Text Request
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