Dimensions And Mechanisms Of Open Innovation In Driving The Development Of Technology Finance

Technology finance is with organizing and applying social capital and financial capital to invest in technological enterprises as the core,with supporting the innovative activities of high-tech enterprises as the purpose and characterized by pertinence,marketability,sustainability and financing.The development degree of technology finance affects the development process of the whole industry by affecting the capital operation of the enterprise.At present,China is in the critical period of transforming the mode of economic growth by promoting industrial upgrading through technological innovation.Technology finance is different from the traditional finance because of its special demand side-high-tech industry.High-tech enterprises with the closed innovation face many problems in gaining financing support of technology finance,causing that technology finance cannot effectively play a role and can't form a good support system of technology finance.Open innovation has a huge impact on high-tech enterprise innovation models in our country,and through the intellectual property rights transactions,information service platform,business models,talent team and other aspects of innovation,it can break the financing bottleneck of high-tech enterprise,creating conditions for the efficient operation of technology finance.The development of China's technology finance is insufficient,and each province has its own development characteristics.Combined with the present development of technology finance and development paradigm of foreign technology financial,through the study of relevant factors of open innovation,the dimensions and mechanisms of open innovation in affecting the development of technology finance were deeply analyzed,which was of important theoretical and practical significance to implement the new concept of innovation,coordination,green,openness and sharing,build a modern economic system and promote technology finance to enter the mature period of efficient operation.Open innovation is the core development mode in the new scientific and technological revolution environment,and is also an important part of China's new development strategy of innovation.Open innovation provides a good market environment for the development of technology finance.In the paper,four dimensions-intellectual property transaction,information service platform,talent team construction and business model were selected to analyze the effect of open innovation on the development of technology finance.In addition,the fixed effect model was used to empirically analyze the short panel data of 30 provinces and cities from 2012 to 2015,so as to study the factors and mechanism of open innovation in driving technology finance development.The results showed that the open innovation significantly promoted the development of technology finance through the three dimensions of intellectual property transaction,business model and talent team,however,it failed to prove the promotion effect of information service platform on the development of technology finance.