科技产业上市公司金融支持效率及其影响因素研究

Research on efficiency and its influencing factors of Financial support forthe technology industry listed company

摘要:

科技产业是我国产能结构调整的重点,而金融支持在其中具有重要作用。本文采用DEA-Malmquist方法测度我国科技产业金融支持效率,以此为基础构建面板数据回归模型分析其影响因素。实证研究表明,科技产业金融支持效率存在较大波动,技术产出对产业支撑作用明显,而技术投入对产业的驱动则不稳定；在间接融资受阻情况下,通过直接融资促进股本流通对提升金融支持效率具有积极效果。最后本文提出了相应对策建议。

Abstract:

The technology industry has an important role in currently China"s economic sustainable development and production structure adjustment. This paper measures the efficiency of the technology industry financial support through the approach of DEA-Malmquist, and uses panel data regression model to build the basis of the analysis of its influencing factors. Empirical study shows that there is a greater volatility in the efficiency of the technology industry of financial support, including technical output is significantly and technical input is unstable in the effect of driving industrial. In the case of insufficient driving force of indirect financing through direct equity financing to promote the development of the technology industry and enhance the flow of financial support has a positive effect. Finally, this paper puts forward the corresponding countermeasures.