| Technological innovation is the core driving force of economic development and an important factor in international competition.China’s economy has entered a new normal,and the development of innovative economy has become an inevitable trend.Report to the 20 th National Congress of the Communist Party of China emphasized that science and technology are the primary productive forces,talents are the first resource and innovation is the first driving force.As the pioneer of technological innovation in China,high-tech industry has the characteristics of high investment and high risk.Once financing is restricted,it will hit the development of high-tech industry.Therefore,the development of high-tech industry needs financial support.Technology finance integrates technology and financial resources,which can guarantee the funds needed for the development of high-tech industry at different stages,and is crucial for the innovative development of high-tech industry.Therefore,it is of practical significance to study the influence of technology finance on the innovation efficiency of high-tech industry.Based on the research on technology finance and the innovation of high-tech industry,this paper first explains the connotation of the technology finance and high-tech industry innovation,and discusses the mechanism of technology finance to support high-tech industry innovation.Secondly,it analyzes the development status of technology finance and high-tech industry in recent 10 years,and uses the entropy method and the DEA-Malmquist index method to measure the development level of technology finance and the innovation efficiency of high-tech industry in various provinces and cities in china.Then this paper chooses the spatial measurement model to explore the influence of technology finance on the technological innovation of high-tech industry.The study found that: Firstly,the development level of technology finance has been continuously improved from 2011 to 2020 in China,but there is a problem of regional imbalance.The high-level development in the eastern region is quite different from the low-level development in the central and western regions.Secondly,the innovation efficiency of high-tech industry has been improved from 2011 to 2020.By decomposing the innovation efficiency,it is found that technical efficiency is the main factor affecting innovation efficiency.Thirdly,there is a significant spatial correlation with technological innovation of high-tech industry in various regions of China,and technology finance has a significant positive external effect and space overflowing effect on technology innovation of high-tech industry.Finally,there are regional differences in the influence of technology finance on the technological innovation of high-tech industry,It is mainly manifested in the eastern region,followed by the central region,and the influence of the western region is the smallest.In the end,around the impact of technology finance on the innovation of high-tech industry,this paper puts forward some suggestions from the aspects of perfecting the investment system of technology finance,perfecting the system of multi-level capital market,vigorously cultivating scientific and technological talents and perfecting the independent innovation system of high-tech enterprises. |
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