The Effect Of Financial Support For The Development Of Agricultural High-tech Industry

Agriculture is related to the basic industry of the national economy and the 1.3 billion Chinese people’s survival. The development of agriculture determined the rate and scale of national economic the modernization of agriculture is related to the strategic goal of modernization in our country. The agricultural high-tech industry played an important role in promoting the agricultural science progress and agricultural economy development in china. The development of agricultural high and new technology industry has a huge demand for capital, now the capital investment model mainly relied on government funding. However, government funding is limited, the financial support must be proceed from the financial markets, market-oriented finance can beattractedto the field of agricultural high-tech industry as an important supplement to the governmentfunding.The government funding would be withdrawed in industry mature period.Finance is an important factor to promote economic development, and financial support has been a hot research topic in academia. This paper is based on the theory of economics and management, it tries to make analysis and answer the questions of "why the financial support must be proceed", "what is the object of financial support ", "how to carry out financial support" base on the system analysis of the existing research results and theories. This paper will study the effect of financial support on the development of agricultural high-tech industry from three aspects: the overall impact effect, the direct impact effect and the mediating impact effect. Firstly, the financial support of agricultural high-tech industry is summarized, and the intensity of financial support is used to evaluate the financial support of agricultural high-tech industries. Based on the intensity of financial support, the paper makes an empirical study on the overall impact effect of financial support on the development of agricultural high-tech industries from the perspective of scale and efficiency. The results are used to clarify the significance of financial support for agricultural high-tech industry. Secondly, the model of the six dimensions was constructed by three factors participation theory, the six dimensions included Social, technological, industrial, agroecological, finance and industry development performance. With the five dimensions of social, scientific, technological, industrial, agricultural and financial factors, the direct impact of the factors on the development of agricultural high-tech industry is studied, the potential variable factors which has a significant positive impact on the development of the industry must to be screened by the empirical results. Financial support for the implementation of the object must be clear. Thirdly, based on the empirical results of the direct impact effect, financial factor was the intermediary variables of social, technological, industrial and agroecological, the mediating effect of financial support on the development of agricultural high-tech industry was analyzed, the potential financial variable factors which has the mediating impact effect on the development of the industry must to be screened, the impact effect of social, technological, industrial and agroecological must be calculated, the implementation of financial support should be clear. Finally we could get the following conclusions:(1)According to the calculation of financial support, the financial support of agricultural high-tech industry was at a low level of development in Yangling. In the study period, the intensity of financial support for industrial development was below 0.2.The maximum value occurred at the end of 2009, it reached 0.195; the minimum value appeared in 2006, it was only 0.089.(2)Combined with the financial support intensity and the multiple regression analysis method, the paper makes an empirical study on the overall impact effect of financial support on the development of agricultural high-tech industries from the perspective of scale and efficiencyand the results were drawn, the financial support has positive effect on the scale and the efficiency of agricultural high-tech industry.On the scale of industries, the intensity of financial support increased every unit, and GDP would grow by 0.242 units.On the efficiency of industries, the intensity of financial support increased every unit, and the efficiency will grow 0.151 units.(3)Combined with the five dimensions of social, scientific, technological, industrial, agricultural and financial factors, the direct impact of the factors on the development of agricultural high-tech industry is studied. The factors of social, technological, industrial, agroecological and financial all have different degrees of positive impact on the industrial benefits and social benefits of agricultural high-tech industry, the results were drawn by the significant test. In the social dimension, location factor and infrastructure factor had a remarkable effect on the industrial benefits and social benefits. In the technological dimension, research factor and researcher factor had a remarkable effect on the industrial benefits; research factor and research policy factor and researcher factor had a remarkable effect on the social benefits.In the industry dimension, product sales factor and industry resources factor had a remarkable effect on the industrial benefits; industrial operation factor and industrial resources factor had a remarkable effect on the social benefits.In the agroecological dimension, labor factor and agricultural economy factor had a remarkable effect on the industrial benefits; agricultural policy factor and ecological environment factor had a remarkable effect on the social benefits.In the financial dimension, financial support capability, financial support efficiency, the coordination degree between financial support and industry development all had a remarkable effect on the industrial benefits and social benefits. The standardized path coefficient in the empirical results of the financial factors is generally higher than that of the four factors of social, scientific, technological, industrial and agricultural ecology.Through the direct impact of financial factors on industry development is the biggest in the process of agricultural high-tech industry development.(4)Based on the equation model of social, technological, industrial, agroecological, finance, industry development performance, the mediating effect of financial support on the development of agricultural high-tech industry was analyzed and the results were drawn. The social dimension effect of 52.8% on the industry benefit needed the financial factors to realize, the social dimension effect of 47.9% on the social benefit needed the financial factors to realize. For the industrial efficiency, the financial support activities of the regional factors and infrastructure factors should be mainly in the form of strengthening the coordination of the two sides. For the social benefits, the financial support activities for the regional factors and infrastructure factors should be carried out mainly in the form of policy delivery. The technological dimension effect of 100% on the industry benefit needed the financial factors to realize, the technological dimension effect of 41.9% on the social benefit needed the financial factors to realize. For the industrial efficiency, the financial support activities for the scientific and Technological Development and scientific research personnel should be mainly in the form of strengthening the coordination of the two sides. For the social benefits, the financial support activities for scientific and technological development, scientific research personnel and scientific and technological factors should be carried out mainly in the form of policy delivery. The industrial dimension effect of 43.3% on the industry benefit needed the financial factors to realize, the industrial dimension effect of 64.6% on the social benefit needed the financial factors to realize. For the industrial efficiency, the financial support activities for the product sales and industrial resources are mainly in three forms of capital investment, policy delivery, and the strengthening of the coordination of the two sides. For the social benefits, the financial support activities for the industrial operation and industrial resources are mainly in three forms of capital investment, policy delivery, and the strengthening of the coordination of the two sides. The agroecological dimension effect of 56.1% on the industry benefit needed the financial factors to realize,the agroecological dimension effect of 41.7% on the social benefit needed the financial factors to realize. For the industrial efficiency, the financial support activities for the labor quality and agricultural economic factors are mainly in the form of strengthening the coordination of the two sides. For the social benefits, the financial support activities of agricultural policy and ecological environment should be carried out mainly in the form of policy delivery.