Research On The Financial Support For The Development Of Strategic Emerging Industry In Jiangsu Province

With the rapid development of new technologies and new industries in the world today,which have bred a new round of industrial revolutions,emerging industries are becoming an important force that leads the future economic and social development.Against this background,China has proposed to vigorously foster the strategic development of new industries,optimize and upgrade the industrial structure,improve the quality and efficiency of development to seize the commanding height of economic and technological competition in the future.As the core of modern economic development,finance is playing its role in the development of strategic emerging industries.However,the problems such as the imperfect financial system and insufficient financial support have become a major bottleneck that restricts its further development.At present,there are not many papers in the academic circles both at home and abroad to empirically study the financial support for the development of strategic emerging industries.It is very rare to study the listed companies in strategic emerging industries in Jiangsu Province.The paper studies various financial support effects in the process of the development of listed companies in strategic emerging industries in Jiangsu Province through theoretical and empirical studies,and puts forward some policy suggestions on how to optimize the financial support system and promote the development of strategic emerging industries.Based on industrial life cycle theory,financial development theory and related financing theory,the paper puts forward research hypotheses,selects panel data of 65 strategic emerging industries listed companies in Jiangsu Province from 2011 to 2016 as research samples,and uses factor analysis to calculate and analyze its comprehensive performance.Then we use the comprehensive evaluation value as explanatory variables to establish a panel data model to analyze the Impact of the Development of StrategicEmerging Industry Listed Companies by five types of financial support such as bank credit support,equity financing support,commercial credit support,internal financial support and government support.The following conclusions are drawn from empirical research:(1)There is a negative correlation between bank credit financing and the development of listed companies in strategic emerging industries in Jiangsu Province;(2)There is a positive correlation between equity financing and the development of listed companies in strategic emerging industries in Jiangsu Province;(3)There is a positive correlation between commercial credit financing and the development of listed companies in strategic emerging industries in Jiangsu Province;(4)There is a positive correlation between internal financial support and the development of listed companies in strategic emerging industries in Jiangsu Province;(5)The relationship between government support and the development of listed companies in strategic emerging industries in Jiangsu Province is not significant.