Efficiency And Effect Of Financial Support To IOT Industry In Guangdong Province

The Internet of things(IOT)is core area of a new wave of information which has a very broad application and development prospects,followed by computer,Internet and mobile communication.Recent years IOT industry has been identified as an important developing industry.This paper mainly studies the efficiency and function of the support of the financial system for the IOT industry in Guangdong Province.Many scholars both at home and abroad had done large mount researches concerning the support for industries by financial system.Most who did the research just applied the theoretical method to elaborate the acceleration function of the financial system to the industries.Many scholars at home preliminary studied the support of financial system for strategic emerging industry in both theoretical and quantitative method.The studies whose objective is IOT took a very small proportion.The development of IOT Industry in Guangdong is well-known in the world and it has clear regional characteristics.It is significant to study the efficiency and function of the support of the financial system for the IOT industry in Guangdong Province,which will drive the rapid development of IOT industry in Guangdong Province.This article firstly analyses the situation the financial system supports industrial development and strategic emerging industry both at home and abroad.Then describes the status that financial system supports the IOT industry.This article elaborates the background and practice of the efficiency and function of the support of the financial system for the IOT industry in Guangdong Province from the macro-perspective.And then divides financial system into four segments(Government grants,commercial credit,direct financing and venture capital),selects 26 listed companies' statistics from 2011 to 2015 as samples.Using DEA and Malmquist index model,calculate the overall technical efficiency and pure technical efficiency of the listed companies supported by the financial system.Apart from this,using multivariate regression analysis to analysis the function of every segment of financial system to the IOT industry in Guangdong.From the empirical analysis,we can comes to the conclusion:the efficiency of of the support of the financial system for the IOT industry in Guangdong is favorable,but still,there is inadequate use of resources,efficiency needs to be improved.The support for IOT industry by commercial credit has a positive effect but not significant,venture capital's support for IOT industry still has a big room,the support by government grants for the development of IOT industry can be further improved.Finally on the basis of the theoretical and empirical analysis of policy finance support,this article puts some proposals from the financial support and policy-based financial support to have positive effect to the development of IOT industry in Guangdong Province.