The Research On Enterprise Investment And Financing Based On Technology Innovation

In recent years, with the advent of knowledge economy, enterprises are exposed to increasingly fierce domestic and international competition. Therefore, technology innovation capacity, as the key to developing core competitiveness, determines sustainability of one's long-term development. Technological innovation is an organic continuous process, requiring plenty of capital input as early as from basic research to applied research and then to the commercialization of the market, for which the financial issue is a critical constraint to success of technological innovation. Investment and financing management as the basis for entire management activities, provides the'blood'for business development and sufficient financial support for technological innovation. Therefore, technological innovation relying on financial report is closely related to investment and financing activities.This paper primarily analyzes the investment and financing issues of technical innovation, beginning with detailed analysis of the importance of investment and financing in enterprises to technological innovation and its goal, which includes the connotation and function of technological innovation, the features and process of enterprise investment, the financing needs for technology innovation for each stage and the financing and investment target of enterprises based on technology innovation. Secondly, on the basis of theoretical analysis, the current situation of enterprise technology innovation and investment and financing activities in our country will be analyzed and presented through statistics and figures and the outstanding problems will also be analyzed in this area. Thirdly, influential factors critical to existing problems are analyzed, elaborating the elements affecting the financing and investing for technological innovation internally and externally; at the same time, the focus of financing and investment management for technology innovation, such as knowledge capital and research and development, is pointed out. Then based on the availability of data and analysis of influence factors, the investment and financing performance evaluation system of the enterprise executing technology innovation is constructed and the concept necessity, function, influential factors and the principle of design of performance evaluation index is expounded; furthermore, with the selection of various regional state-owned industrial enterprises as the research object, DEA method is used to analyze the investment performance empirically. The conclusion comes finally that based on the DEA the financing and investment for technology innovation is far from perfect. Therefore, there is urgent need to perfect enterprise financing system in China, and then to construct the investment and financing system based on enterprise technical innovation.