Research On Financial Support For The Development Of Strategic Emerging Industries In Gansu Province

After the world financial crisis,the global economic structural imbalance has become increasingly prominent,in order to cope with the challenges brought by the financial crisis,many countries put forward the strategy of economic transformation,China also the first time proposed to vigorously develop strategic emerging industries.Gansu Province,less per capita resources,fragile ecological environment,to achieve rapid and sustainable development of the economy,and become the prime location of "Silk Road Economic Zone",the development of strategic emerging industries is very important.In recent years,Gansu province has made great efforts in the development of new industries,and actively respond to national policy,seize the opportunity to develop new industries,promote the transformation and upgrading of traditional industries,and promote regional economic growth.However,Gansu as a less developed area,the strategic emerging industries are mostly small and medium-sized enterprises,and the capital market is not perfect,and the supporting environment of financial services is not perfect.Therefore,the growth of new industries is slow,and the problems are gradually exposed.Firstly,the paper reviews and summarizes the domestic and foreign related research,thus determining the research perspective.Then,the article elaborates on the main line of the theory elaboration,the present situation analysis,the empirical research,the case analysis,the conclusion and the suggestion.In the part of theory,this paper analyzes the necessity,status and characteristics of financial support for the development of strategic emerging industries in Gansu Province.In the empirical part,mainly include efficiency evaluation and influencing factors analysis,in the efficiency evaluation part,first use principal component analysis(PCA)to select the input-output indicators;on this basis,the DEA method is used to measure the financial input-output efficiency of the emerging industries;part in influencing factors,The comprehensive technical efficiency of DEA model is taken as the explanatory variable,the financial support of several ways as independent variables,using Tobit model to evaluate the effect of independent variables on the efficiency of DEA.The following conclusions are drawn:There are some problems in the emerging industry of Gansu Province,such as low efficiency of DEA,Mainly due to the low efficiency of pure technology.From the analysis of the average efficiency of the sample period,the new energy and bio-industry is the highest,the efficiency value is about 0.9,followed by the new generation of information technology,while the efficiency of high-end equipment and new materials industry is only about 0.7.From the indicators of comprehensive efficiency decomposition,for the new generation of information technology,new materials industry,not only the low efficiency of technology is the main reason leading to low financial support efficiency,while the scale efficiency is also playing a certain role,so the two industries Not only need to improve management efficiency,but also to expand the scale of the industry.In the analysis of the influencing factors,it is found that the support of the loan funds and the support of the equity financing have a negative impact on the efficiency of the listed companies in the emerging industries of Gansu Province.The internal capital support has a positive impact on the efficiency of listed companies in Gansu Province.Finally,combined with Dunhuang seed industry as a case to analysize the financing necessity of strategic emerging industries in Gansu,and puts forward some countermeasures and suggestions : to strengthen the government's policy financial support,to improve the efficiency of commercial banks,and to accelerate the improvement of the capital market.