An Empirical Study On The Efficiency And Influencing Factors Of China's Regional Science And Technology Finance

Science and Technology are the primary productive force,and finance is the core of the modern economy.The organic combination of technology and finance can effectively serve the real economy,accelerate innovation-driven development,and realize regional economic transformation and upgrading.The three major economic circles of Beijing-Tianjin-Hebei,Yangtze River Delta and Pearl River Delta are the areas where China's economic development and independent innovation are most active.The development modes of technology and finance are different.The difference and influencing factors of the technology and financial efficiency of the eight major provinces and cities in the circle are of great significance for optimizing the construction of China's technology and financial system and building an innovation-driven country,which will help technology and finance effectively serve technology innovation and improve the efficiency of technology and finance.Therefore,this paper selects the eight major provinces and cities of Beijing,Tianjin,Hebei,Shanghai,Jiangsu,Zhejiang,Anhui,and Guangdong among the three major economic circles to calculate and analyze their technology financial efficiency,and studies the influencing factors of technology financial efficiency.This article takes the eight provinces and cities in Beijing-Tianjin-Hebei,the Yangtze River Delta,and the Pearl River Delta as the research objects,based on the Schumpeter Innovation Theory,the New Bear Peter Innovation Theory,and the mechanism of science and technology finance 's effect on technological innovation,based on the input and output development of scientific and technological innovation.From the perspective of input and output,the provincial panel data of the three major economic circles from 2009 to 2018 is selected as the research sample,and the three major economic circles are measured using the DEA-BCC model and the DEAMalmquist index model.The technological and financial efficiency of the eight provinces and cities changed statically and dynamically,and a Logit panel data model was constructed to empirically analyze the influencing factors of technological and financial efficiency.The empirical research results show that from the static measurement results of the three major economic circles,there are obvious gaps in the technological and financial efficiency of the eight provinces.The best state of effective SE;the technological and financial efficiency of Tianjin,Shanghai,and Jiangsu has only achieved DEA effectiveness for some years,and the technological and financial resources have not yet achieved a sustained and efficient allocation;the technological and financial efficiency of Hebei and Anhui has always been non-DEA effective.Realize the rational allocation of scientific and technological financial resources.From the measurement results of the dynamic changes in the efficiency of technology and finance in the three major economic circles,the total factor productivity of technology and finance in the eight provinces and cities has shown a volatile development trend.The total factor productivity showed a rising-declining-rising development trend,while the total factor productivity of science and technology in Zhejiang showed an upward-declining trend.Looking at the factors affecting the efficiency of technology and finance in the three major economic circles,government support,human capital level,research atmosphere,high-tech industry development SE,financial development efficiency,and informatization level have a significant positive impact on science and technology and financial efficiency,and the margins The degree of influence decreases in turn,and the level of local institutionalization has a significant negative impact on the efficiency of science and technology and finance.Therefore,the provinces and cities in the three major economic circles should increase financial and technological support,increase human capital investment,strengthen scientific research institutions,enlarge and strengthen superior high-tech industries,accelerate financial innovation,deepen the integration of information technology,and strengthen local methodologies.Seven aspects,such as chemical construction,are used to optimize the allocation of science and technology financial resources and improve the efficiency of science and technology finance.