Research On The Measurement And Influencing Factors Of The Operation Efficiency Of Science And Technology Finance In Shandong Province

With economic development,our country has entered a new normal period of economic development.Technology and finance are infiltrating each other.The importance of technology to finance and finance to technology has become more and more prominent.It can be said that the development of the financial industry cannot be separated from technology.The continuous deepening of the influence of science and technology on social and economic development is an indispensable factor in the process of my country's economic construction.Entrepreneurship in the financial industry and technological innovation are closely related and inseparable.Only by accelerating technological research and development and promoting the transformation of technological achievements can we promote social and economic development.Shandong Province,as a large province with population and economy in China,has responded to the national call positively to develop science and technology finance,and has two pilot science and technology reforms in Jinan City and Qingdao City,but there is still the situation of unreasonable input-output structure.In this paper,first of all,through collecting and sorting out the domestic and foreign literature related to science and technology finance,we have a preliminary understanding of the development degree of science and technology finance in China.Then collect Shandong Province science and technology financial input and output related indicators,through statistics and graph analysis of the input and output structure and level,the development status of science and technology finance in this province.Then,this paper uses DEA-Tobit two-step method to conduct empirical analysis.Firstly,it establishes an objective and scientific index system,and uses data envelopment method to measure the efficiency of sci-tech finance in this province over the years.Then the horizontal comparison between the efficiency of science and technology finance in Shandong Province and other provinces in China is made to analyze the development level of science and technology finance in Shandong Province in China.Then on this basis,this paper takes the comprehensive efficiency of science and technology finance measured as the explained variable,and uses Tobit model to analyze the influencing factors of science and technology finance efficiency in Shandong Province.The research conclusions of this paper are as follows: First,the operation efficiency of science and technology finance in Shandong Province is basically high during 2000-2018,but there are still redundant science and technology input and insufficient output in many years,and the input-output structure needs to be adjusted;Second,the ratio of deposits to loans in Shandong Province,the proportion of year-end loan balance of financial institutions to GDP in Shandong Province,and the proportion of completed fixed investment to total investment in high-tech industrial agglomeration areas in Shandong Province are significantly positive correlated with the efficiency of sci-tech finance.The government's pure financial investment in science and technology will reduce the operating efficiency of science and technology finance.Based on the empirical results obtained above,this paper puts forward corresponding countermeasures and suggestions to improve the combination level of science,technology and finance in this province.The government should make a correct position to the development level of the province,optimize and perfect the investment structure and guarantee mechanism of science and technology finance;Improve the market-based financial support system;Establish a comprehensive financing mechanism;Encourage and guide science and technology enterprises to actively carry out science and technology innovation activities.