The Interactive Dynamic Financial Support Path Of Strategic Emerging Industries In Guangdong Based On The Empirical Study Of60Listed Companies

As the core of modern economy, finance is an important engine of economicresource allocation. As Adam Smith wrote in "The Wealth of Nations"，"Prudentbanking activities can enhance a country’s industry." The optimal allocation offinancial resources, including bank credit, plays a central support role in promotingindustrial upgrading. During the Twelfth Five-Year Plan, the development of strategicemerging industries is the highlight of the industrial restructuring in Guangdong,which requires credit activity, capital market activities, policy financial activities to bealigned and coordinated with it. Thus, fostering and developing strategic emergingindustries needs financial support. For this reason, it has a strong practical implicationto promote the development of strategic emerging industries in Guangdong by theway of strengthening financial innovation and building a diversified system offinancial support.In the context of international economy，this thesis tries to build up the financialsupport mechanism with the combination of the direct and indirect financial supportbased on government guidance and market selection, and takes full account of theevolution stage of strategic emerging industries from the perspective of industry lifecycle. This is exactly the concept of the interactive dynamic financial supportmentioned in this thesis, with the purpose of building a positive interaction of industryand capital, and injecting vitality into the development of strategic emergingindustries in Guangdong eventually. By systematic review and analysis of existingdomestic and foreign literature, and with a new perspective on the evolution law ofstrategic emerging industries and other issues such as the financial support promotingstrategic emerging industry growth, this thesis tries to find the mechanism ofinteractive dynamic financial support promoting strategic emerging industry growth,in order to provide an theoretical support. Then, applying qualitative and quantitativeapproaches to study the status and problems of financial support for the currentstrategic emerging industry in Guangdong, and factor analysis for its financial supportsystem of the development, this thesis identifies the role and limitations played by thedifferent financial support factors in promoting the growth of strategic emergingindustries. Thus following conclusions can be drawn from the analysis: In the currentfinancial support system of strategic emerging industry in Guangdong, policyfinancial support plays a very limited role, while the market-oriented financial supportstates in a more important position, from the dimension of leading force in the financial resources allocation. On the other hand, compared with direct financialsupport, bank credit-based indirect financial support plays a more prominent role,from the dimension of funding sources channels. Finally, based on the aboveconclusions, this thesis puts forward several suggestions for the interactive dynamicsystem of financial support for strategic emerging industries in Guangdong.