| Under the global situation of the continuous and rapid evolution of the global information revolution and the competition among countries for the development opportunities of the information technology industry,China has listed the new generation of information technology industry as one of the strategic emerging industries.Financial support plays a key role in cultivating the new generation of information technology industry.Therefore,with limited financial resources,it is necessary to conduct research on the efficiency of financial support for the development of the new generation of information basic industry.This paper analyzes the development status of China’s new generation of information technology industry,and divides the financial support into four quadrants to investigate the financial support status in reality.In empirical aspect,this paper USES DEA method and the panel data Tobit model,based on a new generation of information technology industry in China listed companies panel data from 2013 to 2017,the empirical analysis of financial support efficiency and its influencing factors,the input index for long-term borrowing,the owner’s equity and bonds payable,government subsidies,output indicators for the return on net assets,main business revenue growth rate of net and intangible assets.The analysis results show that the efficiency of financial resource allocation in the process of supporting the development of the new generation of information technology industry is not optimal,but reflects individual differences.Among them,owners’equity and bonds payable have a significant positive correlation with the efficiency of financial support,and the number of years of listing has a significant positive correlation.Finally,based on the results,this paper puts forward Suggestions for optimizing the financial support efficiency of China’s new-generation information technology industry,including giving full play to the support function of gem,giving full play to the value-added function of venture capital,improving the operation ability of government guiding funds,and increasing the policy support in finance and taxation. |
