Research On The Impact Of Financing Methods On The Risk Of Transformation Of Scientific And Technological Achievements

The transformation of scientific and technological achievements is the key link of the close combination of science and technology and economy,and an important way for the adjustment of industrial structure and the transformation of the mode of economic development.It is a high investment,high risk,high efficiency,long cycle of activity,all units of scientific and technological achievements as the main body of technological innovation,product innovation and service innovation,does not have its own self transformation funds and effective financing channels,the lack of scientific and technological achievements into commercial development and market operation experience and ability.At present,the existing way into the financing channels can not satisfy the process of scientific and technological achievements in the demand for funds,the risk of transformation can not predict and control,eventually leading to the transformation conversion rate is low,therefore,the choice of financing mode based on the actual needs of its transformation process.Based on this,this paper studies the financing mode and transformation risk,providing reference for future financing mode of scientific and technological achievements transformation,and further complements the theoretical research of financing and transformation risk of scientific and technological achievements.This study combs the research literature on three variables,the financing model,the transformation risk and the financing stage.Then,the relationship between the three is expounded through theoretical analysis,and a theoretical model is constructed.Then,according to the relevant literature,we determine the measurement variables of the research variables,design and analyze the pre-test questionnaire,and finally confirm the formal questionnaire.This study used the Likert five level scoring method to conduct a questionnaire survey.Finally,the data of 172 valid questionnaires were collected,and the data were analyzed by SPSS23.0 statistical software.Hypothesis test was carried out by reliability validity analysis,correlation analysis and regression analysis.The empirical results show that:endogenous financing is positively related to the risk of transformation;exogenous financing is negatively correlated with the risk of transformation;the financing stage has a moderating effect on the relationship between the financing mode and the transformation risk.The results of this study can help to choose the most effective financing channels in the transformation of scientific and technological achievements to the enterprise,help to reduce the risk of transformation,the research results not only enrich the theory of the transformation of scientific and technological achievements,and provide feasible theoretical guidance for the transformation financing mode.