Research On Financial Support And Efficiency In Technological Innovation In Shandong Province

Technological innovation is an important source of motivation for social progress.In the context of the conversion of old and new kinetic energy,the financial service industry in the "Top Ten industries" has become an important force.Does financial support has a significant impact on technological innovation in Shandong Province?What are the main influencing factors?Does financial support have a significant impact on technological innovation in Shandong? What are the main influencing factors? Are there differences in the efficiency of financial support across regions?Based on the existing research,this paper selects data from various cities in Shandong Province from 2009 to 2018,and uses grey correlation model,PVAR model(Panel Vector Autoregression),DEA model(Data Envelopment Analysis)to empirically analyze the impact of financial support on technological innovation and efficiency measurement,and puts forward reasonable policy suggestions of financial support for technological innovation in Shandong Province.First of all,this thesis elaborates the theoretical basis through literature review.Based on this,the third chapter makes a descriptive statistical analysis of the current state of financial support and technological innovation in Shandong Province,and uses the gray correlation model to find that there is a strong correlation between the two,which can be used as a selection index for analysis.Secondly,a PVAR model is constructed for empirical analysis.The lag order is determined to be the second order after the stationarity test and the co-integration test.The impulse response function is used to analyze the impact of each disturbance term.The variance contribution analysis is used to analyze the relative contribution strength.Thirdly,the two dimensions of the static DEA-BCC model and the dynamic DEA-Malmquist model are used to measure the financial support efficiency of various cities in Shandong Province.Finally,conclusions and research prospects are put forward.The main conclusions of this paper are:(1)From the PVAR model,it can be seen that the impact of financial support on technological innovation has a positive effect,and there is a time lag effect;In the first period,the amount of patent grants,technology market contract turnover,financial scale,government support and so on present a positive response and a high degree of contribution,while the response results of funding input,financial efficiency,and financial structure were negative and positive,with a time lag effect;therefore,it is necessary to expand financial scale,toincrease investment intensity and to improve the efficiency of technology innovation allocation.(2)From the DEA model,it can be known from static DEA-BCC calculations that from 2009 to 2018,the number of valid DEA cities in Shandong Province increased from 7 to 12,according to the effective years of financial support efficiency: Type I cities such as Jinan,Qingdao and Dongying have been in effective DEA status all year round;Type II cities such as Weifang,Heze,and Weihai have increased their financial support input in recent years,making DEA effective for multiple periods;Type III cities,for example,Rizhao and Liaocheng are DEA is not effective,and it is still necessary to increase investment in financial support.Compared with the dynamic results of the DEA-Mamquist model and the static results of the DEA-BCC model,only Jinan,Qingdao,Dongying,and Yantai in Type I cities have reached equilibrium,and the remaining cities have not reached equilibrium status in the long run.Therefore,in order to realize technological innovation,it is necessary to improve the technological progress index,and increase the investment of financial funds while paying attention to the role of government financial policy support.