Research On The Financial Support Efficiency And Its Influencing Factors For The Development Of Biological Agriculture Industry

Biological industry is a strategic emerging industry in the world and will become the pillar industry of our country in the future,and biological agriculture will have a place in it.At present,the biological agriculture industry is in the growth stage,and a large amount of financial support is needed for its rapid development.However,there are still some defects in the current financial support system.Therefore,it is very important to evaluate the current situation of financial support efficiency of the biological agriculture industry and its influencing factors.Based on the analysis of the theoretical basis and development status of the financial support bio-agriculture industry,this paper uses the DEA-Malmquist model method to measure the financial support efficiency and its dynamic changes of the bio-agriculture industry during2012-2020.Then,Tobit model was used to select the influencing factors of financial support efficiency from the macro and micro levels as the independent variables of the model,and the influencing factors of financial support efficiency were quantitatively analyzed.Dea-malmquist model analysis found that during 2012-2020,the overall financial support efficiency of Chinese bio-agriculture industry fluctuated,but did not reach DEA effectiveness.The main reason was that the scale efficiency of financial support was low,and the financial support efficiency of Chinese bio-agriculture was on the rise,but the financial innovation was still insufficient.The regression results of Tobit model showed that the development status of financial market,ownership concentration and company age had significant positive correlation with the financial support efficiency of bio-agricultural enterprises,while the influence of firm size on the financial support efficiency was significantly negative.Finally,combined with the theoretical analysis,industrial development status and empirical results,the policy suggestions to promote the development of biological agriculture industry were put forward.