Research On The Financial Support Effect Of The Strategic Emerging Industry

At present,China's economic operation is in a critical period of transition.The government has been guiding in policy and supporting the development of strategic emerging industry,in order to promote the structural reform of supply side,promote industrial transformation,upgrade and revitalize the real economy.The core of strategic emerging industry development is technological innovation.The process of innovation requires a lot of money.Strategic emerging industry has a variety of financial supports,which means the effect is significant and the impact positive or negative,is really important to the development of strategic emerging industry.This paper attempted to analyze the financial support effect from two aspects of the strategic emerging industry as a whole and the sub-industry,guide the financial capital to flow to the strategic emerging industry and promote the efficient development of the strategic emerging industry.This paper first defined the connotation of strategic emerging industry and financial support,then discussed the mechanism of financial support to the development of strategic emerging industry,and expounded the current development of the China's financial support of strategic emerging industry from the perspective of overall and sub-industries.A total of 1662 effective observational data of 277 strategic emerging industries listed companies from 2010 to 2015 were selected as the research samples,and used the tool STATA12.0 to evaluate the overall effect and sub-industry effect of financial support of strategic emerging industry development through panel data model.Then this paper studied the financial support practice of foreign emerging industry,learned from its experience and integrated it into the follow-up countermeasures.Finally,from the overall and sub-industry two aspects of financial support for strategic emerging industry,this paper gave effective recommendations.The main conclusions of this paper are as follows: On the whole,the financial support of strategic emerging industry in our country is not enough.The listed companies in strategic emerging industry tend to regard the bank credit as the first choice of financing mode,then the internal financing,equity financing,bond financing.Although the proportion of credit capital is large,it does not play its due support.In terms of industry,the way of seven major industries using internal funds,bank credit,equity capital,bond capital situation is different.But overall,the support of seven major industrial funds is not comprehensive and strong enough,which has restricted the development of strategic emerging industry.From the point of upgrading,the financial support effect of enhancing the strategic emerging industry is essentially to solve the problem of capital scale and the development of strategic emerging industry.The process should adhere to government guidance and financial capital,and ultimately promote the development of strategic emerging industry.