Research On The Impact Of Technology And Finance On Technological Innovation In High-tech Industry

Since the twentieth century,many new theoretical studies have proved that the stronger the technological innovation capability,the faster the economic growth.In recent years,developed countries such as Europe and the United States have invested a large amount of manpower and material resources into high-tech industries in order to better upgrade their technological development level.High-tech industries are the industries with the most concentrated scientific and technological innovations.However,in the research and development activities of high-tech industries,they often face the shortage of funds caused by high investment,high risks and information asymmetry.The country's technological innovation and economic growth have adversely affected,while science and technology finance can provide financial support for scientific research activities through capital formation mechanisms,thereby enhancing China's technological innovation level.It can be seen that the factors that study the development level of technology finance affecting technology have both theoretical and practical significance.At the same time,with reference to the current scientific research results,it is concluded that although there are articles that study the role of high-tech industry technology finance in technological innovation,the regional division is relatively simple and rough.At the same time,combined with the regional division of the current statistical yearbook,this paper divides China into four regions: the eastern,central,western and northeastern regions.The results of this study will be different from the past.Therefore,based on the previous studies,this paper will re-establish the region in China.Divided to study how technology finance affects the level of technological development in high-tech industries.First of all,this paper expounds that science and technology finance promotes the level of technological innovation,describes the development of the concept of science and technology finance,summarizes the characteristics of science and technology finance,studies the development model of science and technology finance,and analyzes the unique role of science and technology finance in supporting technological innovation and development.Mechanism and conduction path,and further study of the current state of science and technology finance in the United States and Japan,at the same time,put forward some lessons.Secondly,this paper summarizes the changes in China's technological innovation level and the development of science and technology finance.It finds that China'stechnological innovation level and the development of science and technology finance have achieved remarkable results,but it still has certain drawbacks.In terms of empirical research,this paper combines the current research results and selects the indicators of technological innovation level and R&D investment indicators.Since some data are difficult to calculate,this paper excludes the basic data of three autonomous regions and selects 28 provinces(city from 2007 to 2016).Panel data of the autonomous region,and then divided the country into four different regions.Through the unit root test,cointegration test,panel data model and other methods,the empirical test between the development of China's science and technology finance and the level of technological innovation was carried out.Through empirical analysis,it can be obtained that the development of science and technology financial regions is not balanced and there are problems such as insufficient R&D investment and low level of R&D personnel in the process of technological innovation.Finally,this paper summarizes the ideas and proposes countermeasures for the existing problems.Through these countermeasures and suggestions,we hope to improve China's science and technology financial system,improve China's technological development level,and enable China's high-tech to occupy a place in the international arena.