| Science and technology is an important driving force for sustained economic growth and economic restructuring,as well as an inevitable choice to enhance a country's economic competitiveness.However,the long cycle and high risk of scientific and technological innovation activities lead to the unsatisfied capital demand,which has become a stumbling block to the development of scientific and technological innovation activities.The development of science and technology finance is an important way to solve the problem.In recent years,the state has issued many policy documents to promote the deeper integration of science & technology and finance,and various regions have also carried out practical exploration activities of science and technology finance.As a large economic province in central region,it is of great significance for the sustainable economic development of Henan Province to promote the development level of science & technology and finance.This paper deals with the domestic and foreign research achievements about the sci-tech finance,simultaneously it defines the concepts of sci-tech finance and its efficiency.Secondly,this paper expounds the input status of sci-tech finance in Henan Province from the aspects of policy,construction of sci-tech finance platform,fiscal expenditure on science and technology,scientific loan,capital market and venture capital investment,and analyzes the number of scientific papers,the data of patent applications and authorization,technology market transactions and development of high-tech industry.Thirdly,the paper establish an evaluation index system for the efficiency of sci-tech finance.The paper uses the three-stage DEA method to estimate the efficiency of sci-tech finance of China's 30 provinces in 2017,compares the efficiency in Henan Province with that in other provinces,and finds that the technical efficiency of sci-tech finance is 0.490 in Henan Province in 2017,ranking the 16 th among 30 provinces in China.At the same time the paper selects the window-DEA analysis method to measure the efficiency of sci-tech finance in 18 cities in Henan Province from 2009 to 2017.The overall technical efficiency of sci-tech finance in Henan Province shows an upward trend in the fluctuation,meanwhile the technical efficiency of sci-tech finance in Henan Province varies greatly from city to city,which is reflected in the pure technical efficiency and scale efficiency.Finally,the panel Tobit regression method is used to analyze the influencing factors of the sci-tech finance efficiency in Henan Province.The study finds that the support from the government,favorable market environment and the dominant position of enterprises in innovation all play an important role in promoting the efficiency of sci-tech finance in Henan Province.In order to improve the efficiency of sci-tech finance in Henan Province,it is necessary to give full play to the leading and exemplary role of the government in sci-tech finance,perfect the market of sci-tech finance elements,consolidate the dominant position of enterprises in innovation,strengthen the construction of science and technology talents,and improve the service of sci-tech finance. |
PDF Full Text Request