Study On The Relationship Between The Financial Structure And High-tech Industry

This thesis studies relations between different financial structures including market oriented and bank oriented financial structures and high-tech industry development. Focusing on this theme, we look back the past three industrial revolutions to find that the high-tech industry always rises in the market-oriented country while booms in the bank-oriented country and compare the financial functions of different financial structures in providing risk management and processing information to analyze the impact on high-tech industry of different financial structures. It is maintained in the thesis that financial market is more helpful for capital distribution so as to be more favorable to high-tech industry popularization because financial market has comparative advantages on risk management and different views containing when it is difficult to form an optimum decision; the bank-oriented will promote the high-tech industry because the bank medium has comparative advantages on information search and intendance when the development prospect of technology and profit ability are approved by people. According to practical experience of our country, our country belongs to the bank-oriented structure at present. Whether the high-tech industry could realize the newcome advantage still remain to be examined. But the analysis indicates the development of the capital market has remarkable facilitation to the high-tech industry.So, no matter look from the theory or from practice, the impact on high-tech industry of different financial structure is each good and bad. There is no necessary to plan financial structure on purpose. At present stage, our most important goal is to perfect and strengthen function of financial system, to cultivate and develop the financial market, to strengthen financial infrastructure construction actively. Thus the financial system maximizes advantages to serve the economic development of our country better.