Research On Input-Output Efficiency And Influencing Factors Of Technology Finance In Henan Province

Science and technology are the primary productive forces,and finance is the core of modern economy.The effective combination of technology and finance is an important engine to realize innovation-driven development and promote regional economic transformation and upgrading.Henan,as an underdeveloped province in central China,is in the critical period of economic transformation.Developing technology finance is the basic guarantee and inevitable choice for Henan Province to strengthen its independent innovation ability,cultivate and develop strategic emerging industries and enhance its core competitiveness.In the current context of high-quality development,it requires not only the combination of technology and finance,but also the efficient combination of technology and finance.High-efficiency technology finance can effectively promote the speed and efficiency of the transformation of scientific and technological achievements into real productive forces,which is of great significance to promote the healthy and sustainable development of the whole society and economy.Therefore,this thesis estimates the input-output efficiency of technology finance in Henan Province,and studies its influencing factors.Based on the theory of financial efficiency,financial deepening and innovation,this thesis takes 18 cities in Henan Province as the research object.Firstly,it elaborates the development status of technology finance in Henan Province from two aspects: input and output of technology finance.Secondly,it calculates 18 cities in Henan Province by using data envelopment analysis method(DEA)on the basis of constructing the evaluation system of input and output indicators of technology finance.The input-output efficiency of technology finance in a city from 2008 to 2017 is analyzed,and the changing trend of the input-output efficiency of technology finance in Henan Province and the difference of the input-output efficiency of technology finance in different cities are analyzed.Thirdly,the factors affecting the input-output efficiency of technology finance in Henan Province are selected and tested empirically through Tobit panel data model.Finally,the empirical research is carried out.Based on the results,specific suggestions are given to improve the input-output efficiency of technology finance in Henan Province from six aspects: optimizing the mode of financial investment in science and technology,innovating the products and services of technology finance,creating an efficient innovation system,increasing the input of human capital,and expanding,strengthening the superior high-tech industries and actively carrying out the pilot project of technology finance.The result of input-output efficiency calculation shows that the overall efficiency level of technology finance in Henan Province is not high,and the combination of technology and finance is not close enough.From the change trend,the technology finance in Henan Province is exploring and developing in the fluctuation,and the input-output efficiency shows a downward trend and then an upward trend;from the regional differences,there is a regional imbalance in the development of technology finance in Henan Province,and the input-output efficiency of technology finance in different cities is quite different.The prefectures with high degree of financial market development and strong ability of scientific and technological innovation have relatively good integration of technology and finance.Through empirical analysis,we find that government support,financial market development,regional science and technology innovation level,human capital,high-tech enterprise scale will have an impact on the input-output efficiency of technology finance.Government support has a negative impact on the input-output efficiency of technology finance.Financial development,regional level of technological innovation,human capital and scale of high-tech enterprises have a positive impact on the input-output efficiency of technology finance.The higher the degree of financial development and the higher the level of technological innovation,the more efficient the financial services and the stronger the agglomeration effect of financial resources.Therefore,the higher the input-output efficiency of technology finance.Therefore,increasing the degree of financial development and encouraging technological innovation are the only way to promote the effective combination of technology finance.