The Efficiency Evaluation Of Scientific And Technological Finance In Anhui Province And The Analysis Of Its Influencing Factors

In October 2014,according to the new situation of economic development,China put forward the "Made in China 2025" plan to actively explore the transformation of economic development mode.The 18 th national congress of the communist party of China further emphasized the importance of innovation and placed it at the core of national development.As China's economy enters a period of slow growth,it is an inevitable choice for China to pursue high-quality and sustainable economic development to transform economic growth from the past factor drive to innovation drive.As an important part of the Yangtze river delta,Anhui province has been entrusted with the strategic mission of building an influential scitech innovation source.In 2018,the GDP of Anhui province has exceeded 3 trillion yuan,ranking 13 th in China,so its market capacity is large.Major breakthroughs have been made in scientific and technological innovation in Anhui province,with 13 projects winning the 2018 national science and technology award,according to the provincial government work report in 2019.In 2018,the R&D expenditure of Anhui province reached 56.49 billion yuan,an increase of 18.9% over that of 2017.The proportion of R&D expenditure and GDP reached 2.09%,ranking 9th in China.There are 4,710 high-tech enterprises in Anhui province,ranking the first in China in terms of innovation capacity for seven consecutive years.However,the government work report of Anhui province in 2019 also clearly pointed out that the innovation capacity and innovation transformation level of Anhui province are still limited to some extent.The quality of innovation and the level of benefits brought by innovation have not reached the predetermined target.Under such a situation,the input and output of science and technology finance in Anhui province are understood,and the actual efficiency of science and technology finance is measured.It is of great value to find out the factors that affect the efficiency of science and technology finance in Anhui province.Through the review and summary of domestic and foreign research literature on science and finance,this paper forms a description of the research status from three perspectives.Moreover,it defines the core concepts of this paper and expounds the theoretical basis of science and technology finance.Then this paper analyzes the current situation of the development of science and technology finance in Anhui province from 2010 to 2018 from four input indexes and three output indexes.On the basis of a clear understanding of the current situation of science and technology finance in Anhui province,this paper establishes a three-stage DEA model to measure the efficiency of science and technology finance in 16 cities in Anhui province in 9 years.This paper obtains the efficiency value of science and technology finance before and after the adjustment in Anhui province and analyzes the existing problems.However,there is a lack of research on how to improve the efficiency of science and technology finance in Anhui province.Therefore,based on the measurement results of the efficiency of science and technology finance in Anhui province,this paper selects five influencing factors from the perspectives of enterprises,government and financial market by referring to relevant literature and considering the reality of Anhui province.Tobit model is used to analyze the influence of each factor on the efficiency of science and technology finance.The analysis shows that the scale of high-tech industry,the efficiency of financial market and the scale of financial development have a significant positive impact on the total technical efficiency of science and technology finance in Anhui province,and the support of the government to scientific and technological innovation has a significant negative impact on the total technical efficiency of science and technology finance in Anhui province.There is no significant relationship between the intensity of R&D expenditure and the total technical efficiency of science and technology finance.On the basis of empirical research,this paper puts forward Suggestions from the government,enterprises and financial market.It is mainly to innovate the way of financial input and coordinate the balanced development among regions,so as to improve the overall efficiency level of science and technology finance in Anhui province.Promote the cluster state of high-tech enterprises in Anhui province and give play to the scale effect.We will give full play to the role of the financial market in facilitating the development of high-tech enterprises and help the development of high-tech industries.Finally,I hope this paper can provide help for Anhui province to build a source of scientific and technological innovation,and help Anhui province to build a modern five development beautiful Anhui.