Analysis Of Hebei Province's Science And Technology Finance Efficiency Based On DEA-Tobit

In 2015,the economic development of Hebei province has been entered the "new normal” and is facing a rare strategic superposition period.The major tasks and development direction are to create a new economy and build a new social environment.The economic structure turns to combine "stock adjustment" and "optimal growth",with greater emphasis on scientific and technological progress and innovation.By the end of 2019,the investment in science and technology in Hebei province has reached a new high.Whether it is the government's financial investment or the research and development expenditure of various enterprises,there is a huge growth.However,as a complex system,there is an obvious correlation between the input-output indicators of technology finance(TF).Could the output be effectively improved while the input level of sci-tech finance is improved? Could the conversion efficiency reach the optimal level then bring development impetus to the high-tech industry in Hebei province? There is no doubt that technology and finance are crucial to the development of Hebei province.Hence,how to effectively improve the efficiency of TF,so as to better promote the economic development level of Hebei province,thereby narrow the gap with other regions in the country,is undoubtedly a problem worth exploring.Therefore,this dissertation analyzes the development status of TF in Hebei province from the perspective of efficiency of TF,and empirically tests the operation efficiency of TF in Hebei province through DEA-Tobit model and analyzes the specific influencing factors.This dissertation firstly summarizes the literature on the development of TF,the concept of TF.Then,a descriptive analysis was made on the status quo of input and output of TF in Hebei province and other cities from 2012 to 2017.The gap between the level of input and output of science and technology in Hebei province and that of other provinces and cities as well as the unbalanced development of prefecture-level cities are found.After then,data envelopment analysis(DEA)was used to calculate the efficiency value of TF in 30 provinces and prefecture-level cities in the province.According to the comparative analysis of comprehensive efficiency,pure technical efficiency and scale efficiency in the model results,the efficiency of TF in Hebei province is in DEA invalid state.By using the truncated regression model(Tobit),this dissertation makes an empirical analysis on the much-reduced of TF in various cities of Hebei province in the above DEA conclusions,and finds out the specific influencing factors.Finally,in view of the problems found in the high-tech enterprises,financial institutions and the government,the three main bodies of TF,put forward high-quality development of technology enterprises,increase science and technology spending and other policy recommendations,in order to effectively promote the input-output efficiency of TF in Hebei province,so as to improve the efficiency level of TF in Hebei province.