Research On The Relationship Between Government Investment Fund,Technological Innovation And Growth Of Enterprises

In recent years,Chinese economic development is in the new normal period.The optimization and upgrading of industrial structure,the transformation of growth power and the adjustment of economic development direction have become the new goals of Chinese economic development.Based on this situation,governments at all levels set up government investment funds to guide the flow of capital in the capital market to provide a new way to solve the problem of “market failure” of capital investment and the difficulty of enterprise financing.However,what is the efficiency of government investment funds in guiding social resources? How efficient are the drivers of growth? These problems not only have a very important practical significance to improve the efficiency of government investment funds and promote the healthy growth of enterprises,but also have a profound impact on the theoretical research of government investment and resource allocation.This paper takes the government investment fund,enterprise technology innovation and enterprise growth as the objects,to explore the mechanism between the three,to reveal the mechanism of the impact on the invested enterprises.Using government investment funds can effectively promote the technological innovation of enterprises,improve the growth of enterprises,and provide theoretical basis and empirical support for the development of government investment funds and the healthy growth of enterprises.The use of government investment funds can effectively promote the technological innovation of enterprises,improve the growth of enterprises,and provide theoretical basis and empirical support for the development of government investment funds and the healthy growth of enterprises.In this paper,the GEM listed companies are taken as the research samples to study the relationship among government investment funds,enterprise technological innovation and enterprise growth.The paper follows the logical method of raising,analyzing and solving problems.First,according to the background and significance of the research,the paper analyzes the current research situation at home and abroad,discusses the concept and connotation of government investment fund,enterprise technology innovation and enterprise growth.Second,taking enterprise technology innovation as the starting point,it discusses the influence mechanism between government investment fund and enterprise growth Then we use OLS regression analysis to test the government investmentfund,enterprise technology innovation and enterprise growth.The results show that: the government investment fund and its characteristics are positively correlated with the growth of enterprises;the government investment fund and its characteristics are positively correlated with the technological innovation of enterprises;the technological innovation of enterprises is positively correlated with the growth of enterprises;the technological innovation of enterprises plays a part of intermediary effect in the process of the government investment fund to enhance the growth of enterprises;finally,according to the current gem in China The development situation of the market and the government investment fund puts forward corresponding suggestions,so that the government investment fund should give full play to its guiding mechanism,guide the capital market to better promote the development of technological innovation of enterprises,enhance the capability of technological innovation of enterprises,and enhance the growth of enterprises;enterprises should complete the internal management system,strengthen the research and development,and improve the level of technological innovation;the establishment of the GEM market to improve the external macro environment and other specific suggestions.